SOX or no SOX? The focus on internal control is here to stay May 7, 2021 The UK Government is considering whether to introduce something along the lines of SOX. Regardless of where we end up following the current consultation process, it will almost certainly not be the end of the debate on internal control. More than twenty years have passed since the corporate collapse of Enron. The response of the [...]
The French fishermen blockade in Jersey was a political spectacle – but we’re all sour on the Brexit deal May 7, 2021 Brexit provided a bright spotlight for ports and shipping. The latest dramatic escalation of tensions as French fisherman turned up, armed with flares, at the Jersey port of St Helier, has once again thrown fishing onto centre stage. Jersey is an easy target. They rely on an undersea cable, connected to France, for their electricity. [...]
Exclusive: Business group urges government to launch Covid bonds in ‘war-style’ recovery plan May 7, 2021 The government should issue Covid recovery bonds to finance the UK’s “war-style” post-pandemic recovery, according to family business organisation the Independent Business Network. The business group, which represents family owned or run firms across the country, said the government should abandon inflationary Quantitative Easing and introduce the bonds instead. In a letter to the Prime [...]
Taxman chasing Gary Lineker for £5m over IR35 dispute May 6, 2021 The taxman is pursuing Match of the Day presenter Gary Lineker over a tax bill of £4.9m, linked with IR35 legislation. Lineker, who is self-employed, set up a partnership with his former wife in 2012, which he used to channel his earnings from BT Spot and the BBC. According to tax tribunal documents, published last [...]
‘Super Thursday’ UK elections: What time will the winners be announced? May 6, 2021 Elections have been conducted across the UK today in the biggest electoral test since 2019, with results set to be announced over the next few days. The results will tell us a lot more about the mood of the country, including how much cut through Sir Keir Starmer has had with the UK electorate since [...]
G7 nations urged to boost climate funding for poor nations as Merkel says Germany made ‘fair contribution’ May 6, 2021 Germany and Britain are piling pressure on other G7 nations to boost the funding they provide for climate action in developing countries this decade. Ahead of this week’s Petersberg Climate Dialogue, climate and development experts and former U.N. chief Ban Ki-moon had urged Germany to commit to doubling its public climate finance by 2025 to [...]
SPAC frenzy holds valuable lessons for the UK May 6, 2021 The explosive growth in Special Acquisition Purpose Company (SPAC) listings – shell companies listed on the stock exchange with the purpose of ‘reversing-in’ to another company and taking it public by the backdoor, has so far been a purely US phenomenon. However, other markets are now catching on. The value of listings by SPACs grew [...]
Owner of ailing Liberty Steel in talks for £200m lifeline May 6, 2021 The owner of Liberty Steel is reportedly in talks about a £200m loan facility from California-based investment firm White Oak Global Advisors. The BBC first reported the arrangement is in its early stages, however a skeleton agreement has been drafted. Any agreement would need to be approved owner Gupta Family Group’s creditors which include Credit [...]
Early London mayor election in-person turnout just 12 per cent of 2016 May 6, 2021 Internal Labour polling numbers are showing in-person turnout as of noon in today’s London mayor election was just 11.6 per cent of the total 2016 turnout, raising fears among Sadiq Khan’s camp about a surprise defeat. It is expected there will be many more postal votes this year, due to Covid-19, however it is unknown [...]
HMRC’s fraud hotline inundated with 91,000 calls in first nine months of pandemic May 6, 2021 HMRC’s fraud hotline received more than 91,000 calls during the first nine months of the pandemic, with concerns about furlough fraud likely to be behind many of the calls. On average 10,000 calls per month were made to HMRC’s hotline from April to December 2020, according to HMRC figures, an increase of around 1,000 calls [...]
