Record £14m fine for KPMG over Carillion and Regenersis audits with partner Peter Meehan banned from ICAEW July 25, 2022 The UK’s accounting watchdog has fined KPMG £14.4m and told it to pay £3.95m in costs for providing false and misleading information during its audits of Carillion and Regenersis. The UK’s Financial Reporting Council (FRC) also fined four of KPMG’s former auditors, banned them from the accounting sector’s professional membership body, and severely reprimanded another [...]
UK supercar ownership hits record high due to crypto boom: ‘You only live once’ culture drives Lamborghinis sales July 25, 2022 Supercar ownership in the UK has jumped by nearly a fifth, from 15,229 vehicles in 2020 to a record 18,186 in 2021, according to new research shared with City A.M. this morning. Many wealthy individuals have adopted a ‘you only live once’ mindset and have been more keen to spend on luxury items like supercars, [...]
Travel update: Dover authorities clear port backlog following weekend from hell July 25, 2022 Dover authorities have cleared the port’s weekend backlog, announcing that traffic was running normally as of 9.30am this morning and that there was “minimal dwell time.” “There is no Port of Dover traffic being held in Brock on the M20, the Dover TAP system on the A20 is not currently required and all traffic is [...]
Gatwick exploits Heathrow’s woes by luring major airlines to shift global flights to its Sussex hub July 25, 2022 It seems Gatwick Airport is increasingly taking advantage of the ongoing travel chaos at Britain’s largest airport, Heathrow, to lure major airlines to shift intercontinental and other major flights to its hub. The most prominent airline to do so, so far, has become Emirates, as the Emirati aviation giant confirmed on Friday it will increase [...]
Haringey in shock as young Londoner is shot outside packed Wood Green station in broad daylight July 25, 2022 There is widespread shock and disbelief in North London this morning as a young Londoner, believed to be in his 20s, was shot just outside Wood Green station. The incident happened around 9.28pm, when it was still light and the station was full of evening travellers and commuters. Emergency services were reportedly called to Wood [...]
Wealthy Londoners wake up to find their SUVs deflated in affluent Crouch End following overnight raid in Highgate July 25, 2022 Close to 100 SUVs were deflated across the affluent North London area of Crouch End last night. Activists called the Tyre Extinguishers informed City A.M. this morning that they “disarmed” nearly 100 SUVs in Crouch End in order to protest against the government’s climate policies. They primarily targeted cars in and around Southwood Lane, Shepherds [...]
Tonight at 9pm: Liz Truss and Rishi Sunak will go head to head on live TV in BBC debate July 25, 2022 Tory leadership hopefuls Rishi Sunak and Liz Truss will go head-to-head in a TV debate after the battle to become the next prime minister became toxic with the two rival camps clashing over immigration, China and the economy. The BBC debate at 9pm comes after a weekend that saw allies of the two Tory leadership [...]
‘For f*** sake!’: Liz Truss-supporting Nadine Dorries mocks Rishi Sunak over expensive £3,500 Herbert suit and Prada shoes July 25, 2022 Former Chancellor and Tory leadership frontrunner Rishi Sunak was today mocked over his expensive taste in clothing. The sneer came from Culture Secretary Nadine Dorries. Dorries, a supporter of Sunak’s leadership rival Liz Truss, pointed to reports that the millionaire former chancellor has been pictured wearing a £3,500 suit and £490 Prada shoes. She said [...]
Investment in London’s commercial property market drags as economic woes deepen July 25, 2022 London’s commercial property market took a hit in the second quarter of 2022 as investment declined amid a weakening economic outlook, according to data by BNP Paribas. Central London properties experienced an eight per cent investment drop at £4.5bn compared to Q2 last year, with the number of office deals transacting at less than half [...]
Zelensky: Russia cannot be trusted to hold up grain deal after ‘barbaric’ Odessa strike July 25, 2022 Ukraine’s president condemned Russia’s “barbarism” following a strike on Odessa, as he said the Kremlin cannot be trusted to observe a grain exportation deal. President Volodymyr Zelenskiy hit out after Saturday’s attack by Moscow, in wake of an agreement facilitated by Turkey for Kyiv to resume exports from Black Sea ports like Odessa. The deal [...]