Value of cases referred to the pre-pack pool much higher than expected, but number much lower May 26, 2016 NULL
Inchcape chief exec drives away with pay…just, as shareholders make themselves heard at AGM May 26, 2016 Inchcape's board members faced a mini revolt at the company's AGM earlier today, as more than a third of voting shareholders refused to give their blessing to executive pay. At today's meeting, investors in the London-headquartered luxury car dealership voted 63.5 per cent in favour of the director's remuneration report, although all of the 17 other resolutions [...]
BHS inquiries have “prompted more questions than answers” May 26, 2016 The two inquiries set up to investigate the BHS fiasco have unearth more questions than they have answers, the chair of one of the committees involved said today. Frank Field, who chairs the Work and Pensions committee, has written to Goldman Sachs’ Anthony Gutman, who appeared at an evidence session on Monday, and Arcadia Group for further [...]
Panama Papers law firm Mossack Fonseca to close Jersey office May 26, 2016 Mossack Fonseca, the law firm at the heart of the Panama Paper's scandal, was reported to be closing its offices in Jersey today. The BBC reported that the office closure is officially part of a wider restructuring project, which will also involving shutting its activities in the Isle of Man and Gibraltar, rather than being directly [...]
French headquarters of McDonald’s raided by police as workers in the US form a protest ahead of shareholder meeting May 26, 2016 The French headquarters of fast food chain McDonalds were raided by police earlier this month, it has been revealed today, as workers rallied outside the US headquarters ahead of the company's shareholder meeting. It has been reported by Reuters that the search took place as part of a tax fraud investigation. A McDonald’s spokesperson said: [...]
The initiative that’s earned HM Revenue & Customs (HMRC) more than half a billion in five years May 26, 2016 The taxman revealed today that its 140 targeted taskforces have helped it to track down more than £500m in five years. Since 2011, HM Revenue & Customs (HMRC) has used taskforces to carry out focused bursts of enforcement activity, including crackdowns on the retail sector, the tobacco industry and the adult entertainment industry. The taskforces have gone from strength [...]
Pensions dashboard takes a step closer to becoming a reality, with prototype in the pipeline May 26, 2016 The long-awaited pensions dashboard took a step closer to becoming a reality today, with a potential prototype revealed as being in the pipeline. In a white paper launched today, the Association of British Insurers (ABI) and the Money Advice Service (MAS) revealed that they would be taking the next step in developing the dashboard, which aims [...]
Sophos operating loss position widens despite rising revenues, thanks to IPO costs May 26, 2016 Losses at Sophos Group widened during the year to March, the IT security company announced today. The company announced that its operating losses had grown to $32.7m (£22.2m), compared with $500,000 the year before, thanks to $41.9m of exceptional costs – including those associated with the company's recent IPO – being booked during the year. Sophos' [...]
Legal & General shareholders have lots to mull ahead of AGM vote May 26, 2016 Legal & General shareholders have a lot to think about as they head to today's AGM, after the financial services giant issued two major announcements in as many days. Yesterday, the company revealed that it had incorrectly disclosed the single figure remuneration for its chief executive in its annual report for 2015. After correcting the amount [...]
PPI still tops the list of most complained about financial products May 26, 2016 Consumers are still feeling the effects of one of banking's biggest scandals, with complaints about Payment Protection Insurance (PPI) still topping the list of woes heard by the Financial Ombudsman Service. A report released today by the Ombudsman revealed that it is still receiving up to 4,000 PPI cases each week and that half of all the [...]
