Listed litigation funders scramble to avoid Burford contagion August 8, 2019 Listed litigation funders have distanced themselves from Burford Capital today, after a short seller attack yesterday sent Burford’s shares on a rollercoaster ride. Manolete Partners and Litigation Capital Management (LCM) today pointed out how their models differ to Burford’s after their shares fell steeply yesterday in reaction to the short-seller attack on Burford. Activist Muddy [...]
City grandee Bob Wigley sued over collapse of Yellow Pages-owner Hibu August 7, 2019 City grandee Bob Wigley has been named in a multi-million dollar lawsuit relating to his time as chairman of Yellow Pages-owner Hibu and the company’s collapse in 2013. The lawsuit, which was filed last week in the US, accuses Wigley and other directors and officers of the former FTSE 100 firm of deliberately crashing the [...]
Disgraced former Labour MP Fiona Onasanya struck off as a solicitor August 6, 2019 Disgraced former Labour MP Fiona Onasanya was struck off as a solicitor today after a hearing in London. Read more: Former Labour whip found guilty of perverting the course of justice The ex-Labour whip was found guilty of perverting the course of justice in December after lying to police to avoid a speeding fine. The [...]
Lawyer who played key role in Brexit case set for disciplinary tribunal over dishonesty claims August 5, 2019 The vice-president of the Law Society is set to face a disciplinary tribunal later this month over claims of dishonesty. David Greene, who acted for a claimant on the Article 50 litigation in 2016, is set to appear before the Solicitors Disciplinary Tribunal (SDT) on 13 August. The claim centres around £7,000 in unpaid fees [...]
Watchdog says ‘bad apples’ still able to find new jobs in financial services August 5, 2019 Financial services employees with poor conduct records are still able to move to new companies, despite efforts by the regulator to improve conduct in the sector. A review by the Financial Conduct Authority (FCA) found that “rolling bad apples” continued to be an issue in the sector, despite the introduction of new tougher regulations. The [...]
Dialight woes continue with ‘disappointing’ results and chairman exit August 5, 2019 Dialight shares have fallen today on the release of its “disappointing” half-year results and the appointment of a new chairman. The LED lighting company posted a £1.6m loss for the first half of 2019, down from a profit of £2m for the same period the previous year. Revenue fell two per cent to £76.1m compared [...]
UK public companies post worst performance in three years in second quarter August 5, 2019 UK companies posted the weakest set of results in three years in the second quarter of 2019. Analysis from the Share Centre shows revenues for UK public companies increased 1.6 per cent in the second quarter. Profits rose 3.1 per cent, driven by the top 40 multinationals which performed strongly. Read more: FTSE 100 sinks [...]
Ashtead slashes pension entitlements for top execs August 4, 2019 FTSE 100 plant hire firm Ashtead has axed pension entitlements worth up to 40 per cent of salary for its senior executives as pressure grows on UK public companies to cut excessive pension packages. Ashtead has cut pension perks for its senior staff from up to 40 per cent of salary to a maximum 15 [...]
At least 30 people killed in separate US mass shooting incidents August 4, 2019 At least 30 people have been killed and many more wounded in two separate mass shootings in Ohio and Texas this weekend. A gunman killed nine people and wounded at least 26 others in a shooting in Dayton, Ohio, early on Sunday, according to local police. The suspected gunman was shot dead by police on [...]
Andrew Bailey warns government to keep hands off the Bank of England August 4, 2019 A frontrunner in the race to become the next governor of the Bank of England has warned politicians not to meddle with its independence. Financial Conduct Authority (FCA) chair Andrew Bailey said the Bank’s independence was a “core underpinning” of economic stability, the Sunday Times reported. Bailey is among the favourites to take over in [...]