Santander and Barclays face lawsuits over film financing schemes April 8, 2019 Santander and Barclays are facing lawsuits from investors in failed film financing schemes. Santander could be sued for the role of legacy bank Alliance & Leicester’s role in part-funding the Imagine film financing scheme while Barclays is beng targeted over a similar scheme known as Timeless Releasing. Read more: HSBC sued for £150m in relation [...]
Jury discharged in trial of senior Barclays executives accused of financial crisis fraud April 8, 2019 The jury in the trial of four former senior Barclays executive accused of fraud for their part in a financial crisis-era emergency fundraising was discharged today. The high-profile case marks the first time senior bankers have faced court in a case related to the 2008-09 financial crash. In October the High Court quashed an attempt by [...]
KPMG examining audit spin-off in wake of damning report from MPs April 8, 2019 Big Four accounting firm KPMG is reportedly planning an overhaul of its UK business in the wake of political pressure and a wave of scandals. KPMG could split its UK audit practice from its wider UK business, The Times reported. Read more: MPs call for full breakup of audit’s Big Four in wake of scandals [...]
Funding Circle shares fall as it plans to wind down SME fund April 5, 2019 Funding Circle's shares dived today as it revealed plans to wind down its small and medium enterprises fund and return capital to shareholders. Funding Circle SME Income Fund (FCIF) said that after a consultation with shareholders accounting for over two thirds of the register, it had concluded investors did not want to put more money into [...]
Tom Watson calls for second referendum to be included in any Labour-Tory Brexit agreement April 5, 2019 A second referendum on a final Brexit deal could “solve the national crisis” in the UK, Labour’s deputy leader Tom Watson said. Watson told the BBC he was a "reluctant convert" to a confirmatory vote but said it could be a way out of the current parliamentary impasse. Read more: Goldman Sachs cuts the probability [...]
Game over? Competition watchdog to probe console video gaming autorenewals April 5, 2019 The Competition and Markets Authority (CMA) today launched a consumer law investigation into the console gaming sector. The watchdog said the investigation would focus on the auto-renewal practice of Nintendo Switch, Playstation and Xbox. Read more: Astro Bot Rescue Mission is the PlayStation VR's killer app It said it was “concerned about whether some of [...]
Remain-supporting Labour candidate wins by-election in leave-voting Newport West April 5, 2019 A pro-European Labour candidate was today announced as the winner of a by-election in Newport West, which voted leave in the 2016 EU referendum. Labour candidate Ruth Jones won the seat with 9,308 votes (39.5 per cent) in an election that was triggered by the death of the incumbent Labour MP Paul Flynn in February. [...]
Goldman Sachs cuts the probability of a no-deal Brexit April 5, 2019 Goldman Sachs said today that the UK is less likely to leave the EU without a deal as cross-party talks continue. Economists at Goldman Sachs have said that they think the likelihood of the UK leaving the EU without a deal has fallen. Goldman Sachs’ number crunchers upped the chances of a modified version of [...]
Ladbrokes-owner GVC increases gambling revenue in first quarter April 5, 2019 GVC said today that it had increased gambling revenue in the first quarter by eight per cent. In a trading update, the Ladbrokes-owner said online net-gaming revenue (NGR) increased 17 per cent, which it said included strong volume growth in all territories. Read more: GVC shares plunge as bosses offload majority of their holdings UK [...]
Co-op boosts revenue and profit following Nisa deal April 5, 2019 Co-op has increased its revenue and profit strongly in the wake of its acquisition of retail chain Nisa in May. Looking forward the group warned of potential uncertainty over Brexit and said it was planning for various scenarios as best as it can. The numbers Revenue rose 14 per cent to £10.2bn and profit before [...]
