EY hit with €95m claim over tax scandal advice February 4, 2020 Big Four accountancy firm EY has been targeted with a €95m (£80.5m) lawsuit for advice it gave to a collapsed bank that allegedly defrauded the German state. The administrator to Maple Bank filed the lawsuit against EY in Stuttgart. The claim relates to the so-called cum-ex scandal which led to the closure of Maple Bank [...]
Amber Rudd joins City firm Teneo to offer “strategic advice” February 4, 2020 Former home secretary Amber Rudd today announced she will be joining City PR giant Teneo Blue Rubicon, offering the firm’s clients “strategic advice”, after stepping down as a member of parliament before the December election. Rudd campaigned for ‘Stronger In’ during the EU referendum, where she worked closely with new Teneo colleague Sir Craig Oliver, [...]
New John Lewis boss makes first key hire February 4, 2020 Former Ofcom boss Sharon White has made her first key hire as she takes over as chairman of struggling department store John Lewis. Nina Bhatia has been appointed executive director of strategy and commercial development following a reshuffle of the partnership’s structure. Bhatia, who was most recently managing director at home energy management company Hive [...]
Goldman Sachs partner caught up in 1MDB scandal barred from banking industry February 4, 2020 The Goldman Sachs partner who was put on leave over the 1MDB scandal has now left the bank and has been permanently barred from the banking industry. The Federal Reserve said it is permanently barring Andrea Vella from the industry for his “role in Goldman’s financing of a defrauded Malaysian sovereign wealth fund.” “The [...]
Irish regulator launches probe into Google and Tinder February 4, 2020 The Irish data regulator has opened inquiries into the way Google and Tinder handle users’ data. The Irish Data Protection Commission (DPC) said it had received complaints relating to both companies from individuals across the European Union. Match Group, which owns the online dating platform Tinder, will be investigated for the “ongoing processing of users’ [...]
Relx splashes out $480m on fraud prevention firm Emailage February 4, 2020 Relx today said it has inked a deal to buy US startup Emailage for roughly $480m (£368m) as the publishing and analytics giant looks to boost its fraud prevention capabilities. Emailage, which uses machine learning technology to help clients spot fraud, is one of a number of businesses cashing in on a booming demand for [...]
Metro Bank in compliance probe over Iran and Cuba sanctions breaches February 4, 2020 Metro Bank is undergoing a major review of its compliance controls after the lender handled money from Iran and Cuba, breaching strict US and EU sanctions. The review is being carried out by law firm DLA Piper. Metro Bank hired the firm after receiving the funds from Iran last year. The bank previously notified US [...]
Accenture closes media auditing arm amid conflict of interest claims February 4, 2020 Accenture is set to close its media auditing division amid concerns of a conflict of interest with digital marketing business Accenture Interactive. The consulting giant runs a small division known as Accenture Media Management, which offers auditing and consulting services to brands. However, the company has come under scrutiny over a potential conflict of interest [...]
Fresh blow for Tesla short-sellers as shares fly past $900 February 4, 2020 Investors betting against Tesla were dealt a further blow this afternoon as the firm’s share price jumped more than 17 per cent in early trading. The electric car maker’s stock was up as high as $921 shortly after markets opened, before dipping to just above the $900 mark. It is the latest spike amid a [...]
Britain will regret Huawei decision, warns exiled artist Ai Weiwei February 4, 2020 The UK will regret its decision to allow Chinese tech firm Huawei to build parts of the country’s 5G networks, Ai Weiwei has warned. The artist and activist, who has been exiled from his homeland since 2015, branded the move “short-sighted profit seeking”, adding that the British would “feel sorry later”. Boris Johnson’s government last [...]