Financial Ombudsman Service branded ‘unfit for purpose’ March 31, 2021 The Financial Ombudsman Service (FOS) is “unfit for purpose” and needs “major reform”, according to a damning new report published by think tank the Institute of Economic Affairs (IEA). The IEA said the FOS is “failing to delivery on its primary objectives of ‘providing fair and reasonable resolution of disputes at speed’”, the think tank [...]
Linklaters becomes second magic circle law firm to offer Covid bonus March 30, 2021 Linklaters has become the second magic circle law firm to offer a five per cent ‘thank you’ bonus to non-partners for their work during the Covid-19 pandemic. The five per cent bonus is that of a person’s annual salary, and is pro-rated where Linklaters deems to it to be appropriate. The bonus will be paid [...]
Pandemic leads people to stay unemployed for longer March 30, 2021 The number of people unemployed rose during the second half of 2020, despite government measures like the furlough scheme intended to curb job losses. Between April and September in 2020 the number of people of working age out of work increased by 212,000 to 2.1 million. Of those, just 24 per cent had returned to [...]
Panic over: Brits made 117m fewer trips to the supermarket this March March 30, 2021 Brits made 117m fewer trips to supermarkets this month than in March 2020, which was a month that saw supermarket shelves stripped bare as consumers started panic buying ahead of the UK’s first national lockdown. Grocery sales fell three per cent in the four weeks to 21 March 2021, while during the same period last [...]
PensionBee confirms intention to float on LSE March 30, 2021 PensionBee has today confirmed its intention to float on the High Growth segment of the London Stock Exchange, where it hopes to raise some £55m. The fintech company said it will issue shares worth approximately £55m, and existing shares worth up to £5m will be sold by existing minority shareholders. The IPO will comprise an [...]
Profit and revenue turn flat at Irn Bru owner AG Barr following rollercoaster year March 30, 2021 AG Barr saw profits and revenue fell in 2020 relative to the previous year, following a volatile and unpredictable year. Revenue at the firm, which owns brands Irn Bru and Rubicon, stood at £227m for its 2021 financial year, down 11 per cent from 2020, where revenue stood at £255.7m. The firm’s profit before [...]
Capgemini to make 1,500 UK hires in 2021 March 29, 2021 Capgemini plans to hire 1,500 new team members across the UK in the next year, adding to its existing 8,800-strong workforce. A third of the new recruits are expected to be sourced through the professional services firm’s long-running graduate and apprentice programmes, now in their 10th and 12th years respectively. The grad and apprentice programmes [...]
Surrey adviser deemed unsafe by the City regulator over sexual grooming offence March 29, 2021 The City regulator has moved to ban Surrey-based financial adviser Jon Frensham from carrying out any regulated activity, after he was convicted of sexually grooming a child. In March 2017 Frensham, formally known as Jonathan James Hunt, was convicted of attempting to meet a child following sexual grooming. Frensham, 41, was sentenced to 22 months’ [...]
EY drops $11m case against whistleblower who alleged gold smuggling cover-up March 29, 2021 EY UK has dropped its appeal against a High Court case that saw a former partner awarded $10.8m in compensation. The Big Four firm was due to begin an appeal this year against a High Court ruling in favour of Amjad Rihan, who said he was forced to flee Dubai after alleging EY helped cover [...]
Grant Thornton defends audit of troubled Liverpool Council March 29, 2021 Grant Thornton has defended its audit work on Liverpool Council after a government report found the council was not providing best value for money to council taxpayers. A recent report into Liverpool Council found a litany of failures, including around a “rotten culture” of dubious contracts and backroom bullying. Official records of the council were [...]
