Metro Bank signals lending progress after slow start to the year April 28, 2021 Metro Bank said it is starting to see growth in consumer lending again, after a lockdown-led sluggish start to the year. Metro Bank saw a 17 per cent plunge in lending for the first quarter, with the company’s total net loans falling to £12.05bn for the first three months of 2020, versus £14.51bn a year earlier. [...]
Prince Andrew sets up company with disgraced financier accused of sexual harassment April 27, 2021 Prince Andrew has set up a company with a disgraced former Coutts banker who quit after being accused of sexual harassment. The Duke of York has gone into business with Harry Keogh, a former banker at Coutts who resigned in March 2018 following a slew of sexual harassment claims, including that he inappropriately touched young [...]
EY quits as auditor of P2P lender Kuflink over governance concerns April 27, 2021 EY has resigned as auditor of peer-to-peer lender Kuflink after finding a litany of problems at the group, including worries about its general oversight. The Big Four firm stepped down as auditor on 16 February, according to a letter on Companies House, which said Kuflink had “significant work” to do on multiple aspects of its [...]
Big Four and challengers ask for leeway on difficult audits to avoid public criticism April 27, 2021 The Big Four and the challenger audit firms have asked the accountancy watchdog for more leniency when it comes to more difficult audit jobs, for fear of public criticism if they make a mistake. Audit firms have asked the Financial Reporting Council (FRC) to pause quality inspections of their work for a year if they [...]
Government task force to examine hybrid working post-pandemic April 27, 2021 Ministers have formed a task force to draw up advice on flexible working, as Covid-19 restrictions ease and attention turns to the role of the office post-pandemic. Twenty business groups and trade unions will meet today to begin a review of hybrid working, the Times first reported. The group will be asked to consider how [...]
Law firm Irwin Mitchell tells staff to work when and where they like April 27, 2021 Staff at Irwin Mitchell will be able to choose where and when they work in the future, after an employee and client survey suggested most wanted a hybrid approach post-pandemic. The law firm, which is rumoured to be gearing up to float on the London Stock Exchange, told its 3,000 employees that, subject to their [...]
Gina Miller calls for FCA chair’s resignation following ‘anti-consumer behaviour’ April 27, 2021 Campaigners have called on FCA chair Charles Randell to step down following concerns that the regulator’s compensation scheme could leave consumers unable to claim monetary compensation if the FCA itself is at fault. Gina and Alan Miller claimed the City regulator was potentially behaving in an unlawful and anti-consumer way. They said that while the [...]
UBS takes unexpected $774m Archegos hit April 27, 2021 UBS reported a surprise $774m hit following the collapse of U.S. investment fund Archegos, taking the shine off a forecast-beating 14 per cent rise in quarterly net profit. The news comes as losses from Archegos are still rippling across the global banking industry, with Japan’s Nomura posting on Tuesday its biggest quarterly loss in over a [...]
Rio Tinto exec to leave after just two months in expanded role April 27, 2021 Barbara Levi, chief legal officer & external affairs at Rio Tinto, has accepted a group general counsel position at UBS and will leave the mining company by the end of October. Levi joined Rio Tinto in January 2020 as group general counsel, and then in March 2021 her role was expanded to include legal [...]
Ryan Giggs charged with assaulting two women April 23, 2021 Former Manchester United footballer Ryan Giggs has been charged with assault and coercive control of his ex-girlfriend Kate Greville, as well as a separate charge of assault of another woman. The Wales football manager in due in court next week after a six-month investigation by Manchester police. Police were called to Giggs’ home in Greater [...]
