Solvency II reforms will not be a ‘free lunch’ for insurance sector, Bank of England says July 8, 2022 The Bank of England (BoE) has said its post-Brexit shakeup of the rules that govern the UK’s insurance industry will not be a “free lunch” for the sector, that puts policyholders at risk. In a speech on Friday, Sam Woods, chief executive of the BoE’s Prudential Regulation Authority (PRA) said policyholders must be protected as [...]
Tesco and Heinz resolve pricing war with products set to return to shelves July 8, 2022 Tesco and Heinz announced they had resolved a pricing war today and said “lorries full of Heinz products” will “hit the road shortly”, after the grocer pulled the firm's products from shelves at the end of last month.
Met Police names Commissioner to replace Dame Cressida Dick while force is in special measures July 8, 2022 Former counter-terrorism chief Sir Mark Rowley has been appointed as the new Metropolitan Police Chief. The move comes after the resignation of former top officer Dame Cressida Dick, and the force being put into special measures over its failings. The Met was in particular criticised over the death of Sarah Everard, who was kidnapped raped [...]
Mining giant BHP fails in bid to throw record £5bn collapsed dam lawsuit out of court July 8, 2022 The UK’s Court of Appeals has said a £5bn claim against mining giant BHP over the 2015 collapse of the Fundao dam in Brazil should proceed in England’s courts. The claim, brought forward by more than 200,000 Brazilian citizens, hundreds of businesses, and 25 local municipalities, comes after the BHP and its joint-venture partner Vale’s [...]
Race to replace Johnson: Two candidates confirm bids, as Mordaunt, Hunt, Zahawi, Javid, Sunak, Truss, Baker and Wallace consider chances July 8, 2022 Two candidates have confirmed they are running in the Conservative leadership election, while at least five others are tipped to enter the contest. So far, only attorney general Suella Braverman and Foreign Affairs Select Committee chair Tom Tugendhat have issued their intention to run. 24-hours after Johnson announced he would step aside, a YouGuv poll [...]
Theranos president Sunny Balwani convicted on 12 counts for role at collapsed health tech firm July 8, 2022 The former president of Theranos has been convicted on all 12 counts brought against him over his role at the now discredited health technology firm. Sunny Balwani’s conviction marks the end of years of legal troubles for the exec after Theranos collapsed in 2016. Following a 13-week long trial, the 57-year year executive was convicted [...]
Keir Starmer and Angela Rayner will not be fined over ‘beergate’ gathering July 8, 2022 Labour leader Sir Keir Starmer and deputy Angela Rayner will not be fined by Durham police, the force has announced in a statement. Durham Constabulary said it had concluded its investigation into the so-called ‘beergate’ incident, at which Starmer, deputy leader Angela Rayner and up to 30 staffers were accused of having an illegal gathering [...]
Royal ruling: Judge finds Mail on Sunday story about Prince Harry’s claim against Home Office is defamatory July 8, 2022 Parts of an article in The Mail on Sunday over the Duke of Sussex’s legal claim against the Home Office were defamatory, a High Court judge has ruled. Harry is suing Associated Newspapers Limited (ANL) after the paper ran a story following the first hearing in the duke’s separate High Court claim over his security [...]
CMS hikes pay for newly qualified lawyers to £100,000 a year July 8, 2022 CMS has upped pay for its newly-qualified (NQ) lawyers for second time in a year, after raising their salaries to sums of £100,000 a year. The £5,000 pay rise for CMS’ freshly trained lawyers comes just a few months after the firm upped pay for its NQs to £95,000 a year in December 2021, according [...]
Boris and Carrie Johnson cancel plans to hold wedding party at Chequers July 8, 2022 Boris and Carrie Johnson are no longer planning to host a wedding party at Chequers, which was reportedly to be held at the property despite the Prime Minister entering his final days in office as caretaker leader. The pair married in a low-key, private ceremony at Westminster Cathedral last year. A small group of family [...]