Sam Bankman-Fried extradited to the US December 21, 2022 Sam Bankman-Fried will be extradited to the US to face criminal charges for the demise of cryptocurrency exchange FTX after a judge in the Bahamas approved his transfer. In a hearing on Wednesday morning, Bankman-Fried’s legal team told the court that the former crypto executive agreed to extradition to the US, waiving his right to [...]
Tech wins: UK sector retains No1 spot in Europe December 21, 2022 Despite a rough year on all financial fronts, UK’s tech sector retained the top spot in Europe. The country’s tech sector showed resilience with the fast-growing UK tech companies raising funds at near-record levels (£24b),which was substantially more than France (£11.8 b) and Germany (£9.1 b) combined. UK’s tech sector has raised nearly £100b over [...]
Justin Bieber brands H&M collection ‘trash’ forcing retailer to remove items December 21, 2022 Justin Bieber forced low-cost fashion retailer to remove a line of clothing with his name plastered on it, after the global superstar called it “trash”. The Canadian musician took to Instagram to call out H&M on Tuesday, saying he “didn’t approve it”. “Don’t buy it” he said. “The H&M Merch they made out of me [...]
London’s unicorns: City’s tech start-ups are bringing in the big bucks December 21, 2022 London’s tech start-ups have had a turbulent 2022. But while some of the original tech players in the city have struggled with rising costs and depleting revenues, newer unicorns are making moves. Here are the five London start-ups that made their mark this year, and are to be watched out for in 2023. OakNorth Valued [...]
UK’s audit watchdog calls on top accounting firms to boost measures against exam cheating December 21, 2022 The UK’s accounting watchdog has called on Britain’s seven largest auditors to improve the measures they have in place to prevent cheating on exams, following a series of international cheating scandals involving the world’s biggest audit firms. In a letter seen by City A.M., the UK’s Financial Reporting Council (FRC) called on the country’s top [...]
Sunak looks East: The PM’s China strategy has become clear December 21, 2022 It took Rishi Sunak less than a week into his Tory leadership battle with Liz Truss to dramatically swerve to the right. Amid the flurry of policies designed to win over the grassroots included a promise to be more belligerent toward China than Boris Johnson. Sunak promised to label the country as an official “threat”, [...]
Disruption averted as Eurostar security staff calls off tomorrow’s strike December 21, 2022 Disruption at Eurostar’s London St Pancras terminal has been avoided as security staff contracted by facility manager Mitie have called off a strike planned for tomorrow. Over 100 members of the union RMT have cancelled their walkout following an improved pay offer of over 10 per cent, which will lead to a 30 per cent [...]
Londoners warned about busier buses as drivers go on month strike December 21, 2022 Londoners have been warned that buses will be “busier than usual” in the next few weeks, as drivers working in south and west London are set to go on strike. Members of the union Unite working for operator Abellio will down tools for 11 days between 24 December and 26 January as part of a [...]
Border Force calls on airlines to adjust schedules and keep passengers flowing amid strikes December 21, 2022 Border Force has called on airlines to make changes to their schedules to guarantee a smoother flow of passengers amid the upcoming strikes. “We will expect operators to make any adaptations which could lead to some changes in schedules just to ensure a smooth flow of operations,” said chief operating officer Steve Dann. The government [...]
European Commission clears Germany’s Uniper bailout December 21, 2022 The European Commission said on Tuesday it had approved Germany's €34.5bn plan to recapitalise German natural gas trader Uniper.
