Ex-HSBC chair tipped to lead Standard Life Aberdeen October 7, 2018 The ex-chair of HSBC is in the running to become board leader at the £610bn fund manager Standard Life Aberdeen, the Sunday Times reported. Sir Douglas Flint, who left HSBC in September last year after 22 years at the firm, is among two or three candidates under consideration to replace Sir Gerry Grimstone. Read more: Phoenix [...]
Lloyds to put £13bn wealth unit into joint venture with Schroders October 7, 2018 Lloyds, Britain’s biggest high street lender, plans to merge its £13bn wealth-management wing into a a new joint venture with investment giant Schroders, according to a report. Details of the arrangement – which would transform the UK’s wealth-management sector by bringing Schroders’ services closer to a more wider group than its current, affluent cliente – [...]
PwC faces Guernsey probe over audit of failed claims funder October 7, 2018 PricewaterhouseCoopers (PwC) is being investigated following a shareholder complaint over an audit it conducted into an investment body based in Guernsey, the Sunday Times reported. The accountancy giant was approached by the the Institute of Chartered Accountants in England and Wales (ICAEW), the paper said, over concerns raised about an audit conducted for Juridica Investments, an [...]
Head of EBRD faces calls for investigation over director dossier October 7, 2018 The representatives of several member states have called for the president of the European Bank for Reconstruction and Development to face investigation, over claims the international lender broke rules by gathering information on some of its own directors. Several members of the EBRD’s board complained about president Suma Chakrabarti’s conduct to its chief compliance officer [...]
Turkish authorities believe Saudi critic was murdered in Istanbul consulate October 7, 2018 Turkish police believe that a Jamal Khashoggi, a Saudi journalist who had been critical of his country’s ruling regime, was killed by a ‘murder squad’ during a visit to the Saudi Arabian consulate in Istanbul last week. Multiple reports say that Khashoggi, who has been missing for six days, was targeted in a deliberate killing [...]
Moore Stephens partner says it is ready to take on FTSE audits as revenues grow for third year October 5, 2018 The managing partner of Moore Stephens, the UK’s ninth-biggest accountancy firm, has said the company is “well-positioned” to pick up FTSE-listed clients, as it announced revenue growth for the third consecutive year. The professional services firm’s UK operation posted revenue of £137.5m in the year to April, a 13 per cent rise on the year [...]
Hipsters rejoice! ‘Bold’ Brewdog beer buyers can bring Bitcoin to buy beverages by banks October 4, 2018 Beer- and Bitcoin-lovers who dedicate themselves to “breaking the status quo” have reason to celebrate, after hipster-friendly beer-makers Brewdog announced their new Canary Wharf branch will accept Bitcoin. Brewdog Canary Wharf, which opens later this month, will accept the cryptocurrency. The first 100 keen IPA fans through the door at noon on 19 October will [...]
Power powder Huel gets £20m fuel boost to keep up growth October 4, 2018 Huel, the ‘nutritionally complete’ food that aims to replace a regular diet with an all-in-one powdered meal, has raised £20m in investment to continue its rapid growth. In UK-based Huel’s first external investment since its launch in 2015, tech investor Highland Europe gave the money to power the powder’s international advance. Read more: No-deal Brexit [...]
EU regulator calls for access to UK deal insurers in event of hard Brexit October 4, 2018 The chair of the European Securities and Markets Authority (ESMA) has called for measures which would allow EU firms to access clearing houses based in the UK in the event of a no-deal Brexit. Clearing houses (CCPs), which have becoming an increasingly integral part of dealmaking, are insurers which balance risk between the sellers and [...]
When the banter stops: Viral publisher Unilad braced to enter administration October 4, 2018 The company behind Unilad, an internet news site known for its viral content, is set to go into administration – putting hundreds of jobs at risk. A judge recommended the move after a court heard that the website’s parent, Bentley Harrington, had debts running up to £6m. Alex Partridge, Unilad’s co-founder, echoed the call. Patridge [...]