Clifford Chance appoints new executive partner and general counsel January 8, 2021 Clifford Chance has made Robin Abraham its next executive partner and general counsel after a 16 year career at the law firm. Abraham will succeed Chris Perrin, who has been in the position since 2003. Abraham will formally take up his new role at the magic circle firm on 1 May, and is already working [...]
Grant Thornton sued whopping £200m for Patisserie Valerie accounting failures January 8, 2021 Grant Thornton is being sued for £200m by the liquidators of Patisserie Valerie after the cake shop chain collapsed following suspected fraud. Liquidators FRP Advisory said Grant Thornton was negligent in the preparation and conduct of 2014 to 2017 financial statements. As a result the liquidator is suing the mid-tier audit firm for damages of [...]
Mirror publisher Reach stock jumps on digital good news January 8, 2021 Reach stock jumped this morning on the news the business had seen impressive digital growth in Q4 2020. The Mirror publisher’s stock jumped 25 per cent this morning on the news the publisher was doing better than expected. The publisher, which owns brands including the Express and the Daily Star saw digital revenue in [...]
Top finance bosses expect home working and taxes to increase following Covid-19 January 8, 2021 Top chief financial officers expect flexible and home working to increase post-pandemic – with a five-fold increase in home working expected by 2025, according to a survey by Deloitte. More than three-quarters (78%) of top CFOs expected Covid-19 restrictions on movement and activity to continue through the first half of 2021, but more than half [...]
Elon Musk overtakes Jeff Bezos to become world’s richest person January 7, 2021 Tesla's share price has driven Elon Musk's net worth even higher to topple Amazon boss Jeff Bezos from the top spot of world's richest person
Shopify joins Facebook and Instagram Trump ban January 7, 2021 Donald Trump has been banned from Facebook and Instagram until the presidential transition is completed, Mark Zuckerberg has confirmed – and the ban could go on for longer. Zuckerberg, the founder and CEO of Facebook, which owns Instagram, confirmed the current US President would be banned from posting on the platforms for the remaining days [...]
Debenhams shuts Irish website as Brexit ‘rule of origin’ clause leaves businesses blindsided January 7, 2021 Debenhams has shut its online business in Ireland as it is unable to send orders to the Republic of Ireland due to new Brexit trade rules. The business, which is in administration, said the website was “temporarily closed” but gave no details on if and when it would be back online. The website apologised to [...]
HMRC issues record £28.3m fine for money laundering breaches January 7, 2021 HMRC has issued a record £28.3m fine to Luton-based business MT Global, a money transfer company. The fine is the largest ever issued by HMRC and relates to “significant” breaches of money laundering regulations between 2017 and 2019. The company was penalised for failures in carrying out risk assessments, its policies, controls and procedures, due [...]
American Carnage: Woman shot as Trump rioters storm building January 6, 2021 Supporters of Donald Trump have descended on Washington DC’s Capitol Hill, with some having breached the doors of the Capitol building. Congress was forced to pause the voter certification process taking place today because of the protests. Trump addressed supporters outside the White House earlier today, where he told protestors to “fight” for him. Since [...]
Private equity bidders eye KPMG’s restructuring arm January 6, 2021 Private equity firms are eyeing up KPMG’s restructuring arm, as the Big Four firm prepares to offload its restructuring operations in the UK. Intermediate Capital Group and Towerbrook Capital Partners are preparing to submit initial bids for the business ahead of a deadline later this month, Sky News reported. The division is rumoured to be [...]
