Former Barclays chair Marcus Agius tells court he was unaware of £280m agreement with Qatar February 20, 2019 Former Barclays chair Marcus Agius told a court in London today that he was unaware of an agreement by the bank to pay Qatar £280m as it embarked on an emergency fundraising at the height of the financial crisis. The Serious Fraud Office has charged former Barclays chief executive John Varley and senior bankers Richard [...]
Ex-Barclays chairman Marcus Agius testifies in Qatar fundraising fraud trial February 19, 2019 Former Barclays chairman Marcus Agius appeared as a witness at Southwark Crown Court today in the historic trial of four senior bankers accused of fraud for their actions at the height of the financial crisis. Agius is the first heavyweight banker to appear as a witness in a trial connected to the 2008 crash, more [...]
Debt rulings against corporations jumped 30 per cent last year February 18, 2019 There was an almost 30 per cent jump in county court judgments (CCJs) against corporations in 2018, according to figures released yesterday. A CCJ is a court order that can be registered against companies and individuals if they fail to repay money they owe. Read more: Looking out for the next financial crisis? Keep an [...]
Swiss Re completes 1bn Swiss franc share buyback ahead of financial results this week February 18, 2019 Swiss Re said today it had completed a 1bn Swiss franc (£771m) share buyback programme, ahead of announcing its 2018 financials this week. The Zurich-based insurer said it had bought 11.2m shares, equivalent to 3.21 per cent of its outstanding shares, at an average price of 89.17 frances per share. Read more: German insurance giant [...]
HSBC sued for £150m in relation to Disney tax avoidance scheme February 18, 2019 HSBC Private Bank is being sued for £150m by over 400 investors in connection with a film financing scheme that purported to invest money in Disney blockbusters for tax benefits. Investors, including ex-Manchester United manager Sir Alex Ferguson and ex-England managers Sven-Goran Eriksson and Glenn Hoddle, lost out after tax authorities ruled that the film [...]
Disgruntled ex-Linklaters exec agrees not to disclose information alleging Magic Circle firm’s ‘struggle’ with women February 18, 2019 An aggrieved former senior executive at Magic Circle law firm Linklaters has agreed to destroy a set of documents related to a case about the firm’s alleged “ongoing struggle" with women. Former chief marketing officer Frank Mellish had threatened to disclose information about the firm's culture and the way it dealt with three incidents internally after losing [...]
Global dividends jumped to $1.37 trillion in 2018 on strong banking and mining growth February 18, 2019 Global dividends jumped 9.3 per cent to $1.37 trillion (£1.06 trillion) in 2018, with underlying growth of 8.5 per cent, the best performance since 2015. Nine in ten companies globally increased dividends or held them steady, with underlying growth for the year outstripping the long-term trend of five to seven per cent. Banking and mining [...]
Almost 90 per cent of UK companies have divestment plans in next two years February 18, 2019 Almost 90 per cent of UK companies plan to divest some shares in the next two years, with 72 per cent intending to make a disposal in the next year. Although the disposal intentions of UK companies remain high, above the global figure of 84 per cent and up from a UK figure of 46 [...]
Private sector pay set for growth as skills shortage bites February 18, 2019 Private sector pay is set to increase 2.5 per cent as skills shortages put pressure on employers. A survey by the Chartered Institute of Personnel and Development and the Adecco Group of pay and recruitment intentions at 1,254 employers in the first quarter of 2019 showed basic pay expectations in the private sector have increased [...]
Darktrace risks being dragged into US probe into billionaire Mike Lynch February 17, 2019 UK cybersecurity darling Darktrace is at risk of being pulled into the US fraud case against tech billionaire Mike Lynch and his former Autonomy colleague Sushovan Hussain. US court documents show that Federal Bureau of Investigation agents held a voluntary interview with Darktrace’s co-chief executive Nicole Eagan, as first reported by the Sunday Telegraph. Read [...]
