Auditor independence rules prompt PwC to sell data software to private equity house November 16, 2020 Big four auditor PwC has sold its in-house data capture software to private equity house Souter Investments as auditor independent rules mean the firm cannot effectively grow the business. The software enables PwC to digitalise and search large volumes of complex legal derivative contracts for clients. It takes contracts from clients and converts them into [...]
Nissan reportedly planning to sell stake in Mitsubishi Motors November 16, 2020 Nissan is reportedly mulling plans to sell all or part of its stake in fellow Japanese car giant Mitsubishi, in a move that would shake up the global car market. Two years on from the scandalous arrest of former chief exec Carlos Ghosn, the move would radically alter the global alliance between the two and [...]
Brexit sovereignty is on the horizon, if the government would only seize it November 16, 2020 With just 45 days to go until the Brexit transition period expires, negotiations between Brussels and London are heading into a final frenzy. At the same time, the political battle is heating up. Last week, the government’s proposed Internal Market Bill, designed to correct the most pernicious aspects of the Brexit withdrawal agreement signed last [...]
Locking down care homes risks the very lives we are trying to protect November 16, 2020 An overwhelming number of the UK’s elderly population are at risk — not just from Covid-19, but from our response to it. The recent news that Pfizer has developed an effective vaccine has been a source of optimism for millions, but mass immunisation is still a long way off. Many of our most elderly, especially [...]
Sunak says Boris Johnson will press on with policy reset in self-isolation November 16, 2020 Rishi Sunak has insisted this morning that Boris Johnson will push ahead with his planned two weeks of policy announcements despite being in self-isolation. Number 10 announced yesterday that he Prime Minister was due to unveil a string of new policies in the coming days in an attempt to reset his government after the tumultuous [...]
Business interruption case heads to the Supreme Court November 16, 2020 A landmark legal battle between the City regulator and leading insurers over business interruption payouts heads to the Supreme Court today. Hundreds of thousands businesses that were forced to close or faced significant losses amid the pandemic made claims on their business interruption insurance. But leading insurers disputed the claims arguing their policies did not [...]
Staying and Beyond November 16, 2020 Softer Touch Bitcoin traded a touch softer over the weekend but well within the recent highs and the price action early doors Monday pointed to another attempt to test higher levels. Similarly, Ethereum also dipped over the weekend just ahead of the key $500 mark, with the $477 zone showing some resistance. As noted recently, [...]
Regulators urge more clearing scrutiny but push back buffer decision November 16, 2020 Global regulators have recommended increased scrutiny on clearing houses but have held back from saying the key financial institutions should themselves take on more of the burden of potential losses. The Financial Stability Board (FSB), which coordinates rules for the G20 group of rich countries, said it would “consider during the course of 2021” whether [...]
Capita finance chief steps down November 16, 2020 Capita finance chief Patrick Butcher has today resigned after almost two years at the FTSE 250 outsourcer. The firm said that Gordon Boyd would step in as interim chief financial officer and executive director from 16 November. It added that Boyd has more than 30 years of experience working in business, and has been finance [...]
Vodafone hails ‘resilient’ first half despite Covid challenges November 16, 2020 Mobile giant Vodafone this morning hailed a “resilient” performance in the first half, saying that it had “increased confidence” in its full year outlook. Group revenue at the world’s second biggest mobile firm declined by 2.3 per cent to €21.4bn, with the acquisition of Liberty Global’s assets in Germany and Central Europe offset by lower [...]
