Samsung tycoon’s family to sell off art as it faces $11bn inheritance tax bill April 28, 2021 The family of Samsung’s late chairman Lee Kun-hee will donate a vast art collection as it faces a $10.8bn (£7.7bn) inheritance tax bill on his estate following his death last year. Lee, who is credited with transforming the South Korean company into the world’s largest smartphone and memory chip maker, died in October at the [...]
The Super League might be dead, but a global consolidation of elite teams is inevitable April 28, 2021 The frantic furore over the European Super League killed off the proposal before it had a chance to get off the ground. But this is likely little more than a pause while the football community regroups and puts together a better PR strategy. Some form of consolidation around elite teams is inevitable. Professional football clubs [...]
Labour says Boris Johnson had his ‘Kevin Keegan moment’ in PMQs April 28, 2021 Labour has called Boris Johnson’s angry performance in Prime Minister’s Questions (PMQs) today his “Kevin Keegan moment” in an allusion to the former football manager’s famous 1996 rant. Johnson was furious when answering the last of Labour leader Sir Keir Starmer’s six questions in PMQs today, with the Prime Minister shouting so loudly that his [...]
GSK profit drops sharply due to pandemic but beats forecasts April 28, 2021 Pharma giant GSK saw its profit and turnover slip in the first quarter due to the impact of the coronavirus pandemic, but came in ahead of analyst expectations. The FTSE 100 firm said that adjusted operating profit fell 30 per cent in the period, down to £1.9bn. Turnover slid 18 per cent to £7.4bn, it [...]
HMRC set to crack down on tax evaders’ crypto assets April 28, 2021 The recent surge in interest and value in cryptocurrencies is likely to lead to increased scrutiny on its links to organised crime, according to a top accountancy firm. The organised crime ecosystem is becoming increasingly digital and now there are concerns it is being used by tax evaders. HMRC is set to demand data on [...]
London used as ‘money-laundering base’, mafia trial prosecutor says April 28, 2021 In Italy’s largest mafia trial in three decades, the UK’s capital has been roped in as a potential hotspot for organised crime, particularly post-Brexit. The trial will see around 900 witnesses testify against more than 350 ’Ndrangheta defendants, including politicians and officials charged with being members of Italy’s most powerful criminal group. Defendants are set [...]
New: Mishcon de Reya plot IPO by end of the year April 28, 2021 Law firm Mishcon de Reya is set to float on the London Stock Exchange later this year after the firm’s partners voted to explore an IPO today. The IPO would see every member of staff become a shareholder in the listed business, the London-HQed outfit confirmed. Read more: Sign up to three daily City A.M. [...]
Spotify hits subscriber targets as pandemic party continues April 28, 2021 Spotify today reported subscriber growth at the top end of its targets for the first quarter as strong momentum from a pandemic-induced boom in trading continued into 2021. The music streaming giant posted 21 per cent year on year growth in premium subscribers to 158m after it added 4m in the first three months of [...]
Compensation scheme that cost £23m to set up has yet to pay any redress April 28, 2021 A compensation scheme for victims of banking scandals that cost millions of pounds to establish is yet to pay out even a penny in redress. The Business Banking Resolution Service (BBRS), which was formed in 2019 and cost £23m to set up, has run up huge bills for staff and third-party advisers, but is yet [...]
Gridserve: we visit London’s electric filling station of the future April 28, 2021 Described as the ‘world’s first electric forecourt’, Gridserve is an EV charging hub powered by sustainable energy. We discover how it works.
