Cryptoexchange Coinbase confidentially files for IPO December 17, 2020 Coinbase, one of the world’s largest cryptocurrency exchanges, has said it has submitted the necessary paperwork to officially go public in an IPO. The company said it had “confidentially submitted our draft registration (Form S1) with the Securities and Exchange Commission.” There had been rumblings of a float over the summer according to Reuters reports. [...]
FCA cancels £205,000 of bonuses after LCF scandal report December 17, 2020 The Financial Conduct Authority (FCA) has cancelled £205,000 worth of executive bonuses after a damning report found the watchdog had failed to properly regulate a collapsed firm. But FCA employees implicated in the report are now facing calls to pay back bonuses for previous years after an investigation found “significant gaps and weaknesses” in the [...]
Nightclub operator Deltic rescued by Danish bar group, saving 1,300 jobs December 17, 2020 Nightclub operator Deltic, which owns the Pryzm and Atik chains, has been bought out of administration by Danish group Rekom, in a deal that is expected to save more than 1,300 jobs. Around 10 Deltic venues are expected to close, while 42 will reopen when restrictions on nightlife are lifted. Peter Marks, the current chief [...]
Revolution Bars Group blames UK government’s ‘scandalous’ and ‘inept’ decisions for £31.7m losses December 17, 2020 Revolution Bars Group recorded pre-tax losses of £31.7m for their preliminary yearly results, following a tough year for the hospitality industry. However, the company laid scathing criticisms for its losses on the door-step of the government. ”The UK government’s actions towards wet-led bars and late-night hospitality are nothing short of scandalous. It has little evidence [...]
Break: Government freezes quarantine list for Christmas period but US Virgin Islands fall foul December 17, 2020 The Government has added Uruguay, Namibia and the US Virgin Islands to the list of countries returning passengers must quarantine after visiting. But Transport Secretary Grant Shapps has said there will be more changes to the quarantine list until January 7th, mitigating the chance of travel chaos over Christmas, unless it is an “emergency.” No [...]
Oh Ambassador, you’re buying us? Ferrero add Eat Natural to portfolio December 17, 2020 Italian confectionary giant, Ferrero will acquire Eat Natural, expanding into the healthy snacking market for the first time.
Sacked PwC accountant avoids strike-off after drunkenly groping sleeping woman on plane December 17, 2020 Ex-PwC accountant James Phipps has avoided being struck off by a disciplinary body, despite serving time in jail in the US for assaulting a sleeping woman on a plane. Phipps was on a transatlantic British Airways flight in 2018 when he groped a sleeping woman’s breasts and then threw a book at her when she [...]
Robinhood pays $65m to settle SEC charges December 17, 2020 Stock trading app Robinhood has agreed to pay $65m in charges to settle claims it had misled customers about payments it received for handling their trades. Between 2015 and late 2018, Robinhood made “misleading statements and omissions in customer communications… about its largest revenue source when describing how it made money,” according to the Securities [...]
FCA failed to properly regulate London Capital & Finance, inquiry finds December 17, 2020 The UK’s financial watchdog did not effectively supervise and regulate mini-bond scandal company London Capital & Finance (LCF) before it collapsed last year, an independent investigation has found. The inquiry singles out Andrew Bailey, who was the Financial Conduct Authority’s boss at the time, and who is now Governor of the Bank of England. LCF [...]
Google AI unit reports huge losses December 17, 2020 DeepMind, Google's artificial intelligence unit, reported pre-tax losses of £460.9m in 2019.
