GameStop rises on Wall St open as FCA issues trading warning January 29, 2021 GameStop stock was up more than 100 per cent as US markets opened today, as popular trading platform Robinhood eased restrictions on buying into the stock. The army of small investors behind this week’s dramatic squeeze on Wall Street hedge funds returned to drive shares in GameStop and other hot companies higher on Friday as online broker [...]
Liz Truss makes de-escalating trade disputes with US a top priority January 29, 2021 Trade minister Liz Truss has said she will make it her top priority to de-escalate trade disputes over steel and aircraft subsidies with the United States. Speaking at this year’s virtual Davos summit, Truss said countries must “resist protectionism”, and that there should not be tariffs between the UK, the EU and the US. “On [...]
Challenger audit firms prep for forced audit separation January 29, 2021 Challenger audit firms are readying themselves for audit separation, a requirement not yet expected of them, but one they see as inevitable in the future. Last summer audit regulator the Financial Reporting Council (FRC) ordered the Big Four firms – Deloitte, KPMG, PwC and EY – to separate their audit units from the rest of their [...]
Novavax Covid-19 vaccine shows 89 per cent efficacy in UK trials January 29, 2021 The Novavax Covid-19 vaccine has shown an 89.3 per cent efficacy in phase three of a clinical trial conducted in the UK. The UK has ordered 60m doses of the vaccine, which will have to be approved by the Medicines and Healthcare products Regulatory Agency before being distributed to the public. So far, more than [...]
Billionaire Coates family of Bet365 stump up half a billion in tax January 29, 2021 Gambling family Denise, John and Peter Coates of Bet365 have paid more than half a billion pounds (£573m) in tax this year, making them the top taxpayers in the UK. Denise Coates founded Bet365 in 2000, and the tax paid by the family and the business is equal to the price of paying for 62,725 [...]
Taxing time for Ed Sheeran as singer pays £28m to HMRC January 29, 2021 Singer Ed Sheeran paid a whopping £28m in taxes this year, making him one of the UK’s biggest taxpayers. Ed Sheeran was named along with 49 others as part of the Sunday Times Tax List, which lists the taxes paid by the wealthiest in the country. Sheeran was by far the most high-profile new entry [...]
Confidence in London business creeps up in January January 29, 2021 Business confidence in London rose five points during January to three per cent, according to the latest Business Barometer from Lloyds Bank. The rise marks the first positive reading on the barometer since the Covid-19 outbreak began. The business barometer quizzes 1,200 businesses monthly. This month companies in the capital reported higher confidence in their [...]
Elon Musk brands shorting stock a ‘scam’ following GameStop trading restrictions January 28, 2021 Redditors: We'll 'burn Robinhood to the ground' after Gamestop trading restricted
World’s first ‘flying car’ and drone airport to open in Coventry January 28, 2021 A pop-up urban airport that will showcase so-called “flying cars” and drones will be opened in Coventry later this year. The airport, called Air One, is scheduled to open in November and will be located close to the Ricoh Arena in the north of the City, Sky News reported. The project has received a [...]
BEIS audit reform proposals coming ‘in next couple of weeks’ January 28, 2021 The BEIS consultation on reforms to the audit sector is understood to be coming out “in the next couple of weeks”, and is expected to be extensive. The consultation will contain detail on the minimum standards for audit committees, among other things that “UK PLC will gasp at”, Scott Knight, head of audit and assurance [...]
