Begbies Traynor makes fourth acquisition this year May 10, 2021 Begbies Traynor has bought Midlands-based finance broker MAF Property, marking its fourth acquisition of the year as the group continues to focus on growth. The London-listed professional services firm will pay a maximum of £11.75m for MAF Property, with an initial cash payment of £3m, followed by the potential for an additional £8.75m subject to [...]
UK downgrades Covid-19 threat level May 10, 2021 Chief medical officers have lowered the UK’s Covid threat level from four to three, meaning the virus is in general circulation but not rising exponentially. In a joint statement, the chief medical officers said it was thanks to the efforts of the general public with social distancing, and the impact of the vaccination programme, that [...]
Square Mile’s largest employers embrace hybrid working, the details May 8, 2021 The majority of the largest employers in the City of London have vowed to continue with some sort of hybrid approach to working, after pandemic-led restrictions forced the biggest home working experiment in history. With Covid-19 cases falling and millions of people successfully vaccinated, staff are trickling back into London’s offices, and companies are turning [...]
Ministers to start searching for new audit watchdog chair May 7, 2021 The Department for Business, Energy and Industrial Strategy (BEIS) will shortly kick off the search for the new chair of the Financial Reporting Council (FRC). BEIS will advertise for the role in the coming weeks, Sky News first reported. The FRC’s current interim chair Keith Skeoch has reportedly had his contract extended in recent weeks [...]
KPMG UK puts a woman back in charge of its audit division May 7, 2021 Catherine Burnet has been made KPMG UK’s new head of audit, taking over from Jon Holt, who recently became chief executive at the Big Four firm. Burnet’s career with KPMG spans more than 25 years and has seen her as regional chair for Scotland, Edinburgh office senior partner and a lead partner on a number [...]
BoE does not expect wave of bankruptcies when Covid support measures end May 7, 2021 A tide of bankruptcies among UK firms is not expected when the government pulls its emergency Covid support measures like the furlough scheme later this year, BoE Chief Economist Andy Haldane has said. Many debts racked up recently by companies are spread over long durations “which increases the chances of them being able to be [...]
Activist investor sells stake in Barclays May 7, 2021 Activist investor Edward Bramson has sold his firm’s 6 per cent stake in Barclays, ending a three-year campaign against the bank. Since 2018, Bramson’s fund, Sherborne Investors, pressured Barclays CEO Jes Staley to scale back investment banking, and demanded his removal over his links to US financier and registered sex offender Jeffrey Epstein, but Bramson struggled [...]
Vacancies explode at fastest rate in 23 years as easing of lockdown restrictions boosts confidence May 7, 2021 Hiring activity rose sharply for both temporary and permanent staff in April, as the UK began to emerge from its third national lockdown and more parts of the economy reopened. Overall vacancies expanded at the fastest at the quickest rate for 23 years, according to data compiled by KPMG and REC. Demand for permanent staff [...]
Taxman chasing Gary Lineker for £5m over IR35 dispute May 6, 2021 The taxman is pursuing Match of the Day presenter Gary Lineker over a tax bill of £4.9m, linked with IR35 legislation. Lineker, who is self-employed, set up a partnership with his former wife in 2012, which he used to channel his earnings from BT Spot and the BBC. According to tax tribunal documents, published last [...]
G7 nations urged to boost climate funding for poor nations as Merkel says Germany made ‘fair contribution’ May 6, 2021 Germany and Britain are piling pressure on other G7 nations to boost the funding they provide for climate action in developing countries this decade. Ahead of this week’s Petersberg Climate Dialogue, climate and development experts and former U.N. chief Ban Ki-moon had urged Germany to commit to doubling its public climate finance by 2025 to [...]
