KPMG and ex-partner accused of misconduct in FRC’s investigation into Carillion audit September 1, 2021 KPMG, ex-partner Peter Meehan and current and former staff at the Big Four accountant are alleged to provided false and misleading information to a City watchdog investigating its audit of collapsed construction giant Carillion. The allegations are part of a Formal Complaint issued this morning by the Financial Reporting Council (FRC) in connection with the [...]
Chinese hedge fund offers £218k starting salary to rival big banks September 1, 2021 Ubiquant, a China-based fund managing $8bn (£5.8bn) of assets, has bumped up starting salaries in a bid to compete with big banks. JP Morgan, Barclays and Citigroup all upped starting salaries to $100k amid rising market wealth and complaints from new starters about working 100-hour weeks during the pandemic. Amid growing competition Goldman Sachs and [...]
Breaking: Extinction Rebellion activists smash JP Morgan windows : CityAM September 1, 2021 Green activists have vandalised the JP Morgan headquarters in Embankment using chisels and hammers to smash two windows. At around 7am this morning eight women representing Extinction Rebellion arrived at the building wearing all black and used hammers adorned with the words ‘live,’ ‘laugh’ and ‘love’ to break the glass. Activists added the words ‘in [...]
Biden doubles down on decision to withdraw US troops from Afghanistan September 1, 2021 US president Joe Biden has doubled down on his decision to withdraw American soldiers from Afghanistan. In a speech delivered from the White House last night, Biden reiterated that staying in the country beyond the 31 August deadline was not an option. In an address to the nation, Biden said 5,500 Americans had been evacuated [...]
North Sea oil investment drops to lowest level in 50 years September 1, 2021 Investment into the North Sea oil industry fell to its lowest level in almost 50 years as the coronavirus pandemic and subsequent collapse in oil prices spooked the sector. Oil and Gas UK’s (OGUK) annual economic report found that just £3.7bn was invested into the continental shelf in 2020, the lowest in real terms since [...]
National Grid’s £7.8bn power deal gets green light from competition watchdog September 1, 2021 The UK’s competition watchdog has today given the green light to National Grid’s whopping £7.8bn deal to buy Western Power Distribution (WPD). Based on the information currently available, the Competition and Markets Authority (CMA) said it had decided not to refer the merger to a phase 2 investigation. Back in March National Grid announced that [...]
Chinese hedge fund offers £218k starting salary to rival big banks : CityAM September 1, 2021 Ubiquant, a China-based fund managing $8bn (£5.8bn) of assets, has bumped up starting salaries in a bid to compete with big banks. JP Morgan, Barclays and Citigroup all upped starting salaries to $100k amid rising market wealth and complaints from new starters about working 100-hour weeks during the pandemic. Amid growing competition Goldman Sachs and [...]
Travel restrictions dampen WH Smith’s annual results September 1, 2021 WH Smith has reported that its annual results fall far short of pre-pandemic levels as Covid-19 travel restrictions continue to bite. In a preview of the group’s annual financials, it revealed that total revenue for the second half of 2021 was at 65 per cent of pre-covid levels, climbing to 71 per cent in the [...]
UK’s Blue Prism sees shares surge 39 per cent amid takeover discussions September 1, 2021 Blue Prism has been lured into takeover discussions with two US private equity firms sending its share price soaring. Yesterday shares jumped by as much as 38.6 per cent, from lows of GBX837.0 to highs of GBX1,160.0, after the company announced it is in talks with TPG Capital and Vista Equity Partners about possible offers. [...]
UK house prices jump unexpectedly in August September 1, 2021 UK house prices jumped unexpectedly in August driven by strong demand for homes in the lower segment of the market, according to new figures released today. Data from Nationwide shows house prices rose 11 per cent annually in August, up from July’s 10.5 per cent increase. The shock rise is likely being driven by the [...]
