McKinsey wins £3m govt contract: fights off competition from EY, Bain and Boston Consulting – CityAM : CityAM August 23, 2021 McKinsey & Company has won a contract worth up to £3m to consult the government on digital, data and technology services ahead of the annual spending review, according to reports. The firm fought off competition from EY, Bain and Boston Consulting Group, according to reports, which suggest that the contract, valued at £53,571 per day, [...]
Tax and accounting bodies call for government to delay reporting reforms August 23, 2021 UK tax and accounting bodies have urged the government to delay reforms to the tax system which would affect how self-employed people and businesses report their profits. In a letter sent to Treasury financial secretary Jesse Norman, representatives from five tax and accounting bodies, including the Institute of Chartered Accountants for England and Wales and [...]
Bitcoin smashes through $50k, but Cardano steals limelight as it looks to break $3 August 23, 2021 The price of Bitcoin has shot above $50,000 for the first time in three months, as the crypto markets continue to recover after their recent malaise.
Gupta’s GFG carving out deal with White Oak to inject cash into European steel mills August 23, 2021 Sanjeev Gupta’s metals giant GFG Alliance is reportedly carving out a deal with White Oak Global Advisors for the refinancing of his European operations. The deal, which would circle GFG’s steel mills in Romania and the Czech Republic, could end months of uncertainty for thousands of steelworkers, the Financial Times first reported, citing people familiar [...]
Journey to Net Zero: Green infrastructure will be the next big thing for tech investors August 23, 2021 If we’re going to hit net zero, we need a huge change to our energy infrastructure in a very short amount of time. This is needed to help us overcome challenges like how to store renewable energy, solve grid intermittency, and electrify our heating supply. The build out of new renewable energy infrastructure is happening, [...]
Bentley Mulliner builds first examples of bespoke Bacalar and reborn Blower August 23, 2021 Bentley’s Mulliner personalisation department has hand-finished the first examples of the exclusive Bacalar and Blower models.
Global anti-money laundering fines surge as regulators dole out tougher penalties August 23, 2021 Global anti-money laundering (AML) fines at banks and financial services firms soared to $2.2bn (£1.6bn) last year, fives times higher than in 2019, as regulators have stuck to tougher lines on the industry, according to reports. In its latest review Kroll, a governance and risk consultancy, found that watchdogs levied almost $1bn of AML fines in [...]
JD.com revenue jumps as pandemic boosts online shopping August 23, 2021 Chinese retailer JD.com has beaten expectations for second-quarter sales as the pandemic continues to drive up demand for online shopping. The tech giant reported a 26 per cent rise in net revenue to 253.8bn yuan (£28.6bn) in the three months to the end of June, beating analyst consensus of 249.27bn yuan. Sales in its product [...]
Three quarters of UK professional investors to increase crypto exposure August 23, 2021 A survey has found that the UK is one of the most attractive markets for hedge fund managers focussed on crypto and digital asset funds. The research, commissioned by Europe’s largest digital asset management fund, Nickel Digital, found that 74 per cent of UK institutional investors and wealth managers plan to increase their exposure to [...]
CMA to probe S&P Global’s £33bn takeover of IHS August 23, 2021 The Competition and Markets Authority (CMA) has just announced the launch of an inquiry into S&P Global’s £33bn takeover of IHS Markit Ltd. The CMA gave notice today that it plans to investigate the anticipated merger between credit ratings giant S&P Global and IHS Markit. The deadline for its decision on whether the merger is [...]
