No official US approach to question Prince Andrew over Epstein, says PM July 3, 2020 US authorities have not made an official approach to the government for permission to speak to Prince Andrew about his connection to Jeffrey Epstein, according to the Prime Minister. Prosecutors in the States want to question Andrew over his contacts with the disgraced financier, who was awaiting trial on charges of trafficking minors when he [...]
Boris Johnson: UK through the worst of it but ‘let’s not blow it now’ July 3, 2020 Boris Johnson has said the UK is through the worst of the coronavirus pandemic but said: “Let’s not blow it now, folks”. The Prime Minister spoke ahead of the easing of lockdown restrictions in England, and urged Brits to “enjoy summer sensibly”. Pubs, bars and restaurants will open their doors for the first time in [...]
Eurozone PMI reaches four-month high in June but coronavirus still weighs on activity July 3, 2020 The eurozone economic downturn has slowed for the second successive month, but the pandemic continues to weigh on wider economic activity. IHS Markit’s Eurozone purchasing managers’ index (PMI) rose to 48.5, up nearly 17 points from May’s 31.9. It is the index’s best level in fourth months and is higher than the earlier flash reading [...]
CMC Markets forecasts strong 2021 earnings on robust trading July 3, 2020 Online trading platform CMC Markets has predicted 2021 earnings to exceed the upper end of market consensus, as client trading remains strong through the pandemic. CMC has had a strong year so far as the coronavirus selloff in March helped bolster its income by 93 per cent to £252m in the first quarter. “In first [...]
Head of German regulator calls Wirecard fraud a ‘massive criminal act’ July 2, 2020 The head of Germany’s financial watchdog has called the accounting scandal at Wirecard a “massive criminal act”. The German payments processing firm filed for insolvency after an accounting scandal which saw €1.9bn missing from its balance sheet. Former chief executive Markus Braun was last week arrested on suspicion of fraud and market manipulation. “It is [...]
Head of audit review calls for urgent reform after Wirecard scandal July 2, 2020 The head of the review into the auditing industry has called on the government to press on with an overhaul of the sector, after a Big Four firm failed to uncover fraud at Wirecard. After a series of allegations against Wirecard, EY, which has been the firm’s auditor since 2009, said it was unable to [...]
Crispin Odey to sue German regulator over Wirecard short-selling ban July 2, 2020 Crispin Odey is planning to sue the German financial regulator for millions of pounds after it banned short-selling on Wirecard last year. Wirecard filed for insolvency after an accounting scandal which saw €1.9bn missing from its balance sheet. Former chief executive Markus Braun was last week arrested on suspicion of fraud and market manipulation. Yesterday [...]
Regulator told about Wirecard ‘link to laundering’ last year July 2, 2020 The financial watchdog was reportedly warned last year that Wirecard had alleged links to a scheme that used bogus online stores to conceal the processing of high-risk payments. The Financial Conduct Authority (FCA) was given details of an operation where allegedly fake sites were used as a front for channeling gambling proceeds through the payments [...]
Brexit: UK to reopen temporary market access regime for EU financial firms July 2, 2020 Britain is set to reopen its temporary market access regime for EU financial firms in September to help companies through the Brexit divorce period. Britain left the European Union at the end of January, and the transition period will end in December. There is currently a “temporary permissions regime” in place for EU-based financial firms. [...]
DS Smith profit strengthened by e-commerce demand during lockdown July 2, 2020 Packaging supplier DS Smith has said a strong demand in ecommerce, as well as a growing environmental awareness, helped full year-profit inch up five per cent. The figures DS Smith reported full-year revenues of £6.04bn, down from £6.17bn in the year before. The coronavirus crisis has dented revenues by approximately £15m in the final two [...]
