FTSE 250 fintech firm Plus500 seeks to woo investors ahead of AGM May 3, 2022 Fintech giant Plus500 has told investors it has made “substantial progress” in pursuing its strategy, as it prepares for the start of its annual general meeting (AGM) later this morning. The AGM will see Plus500 investors asked to vote on 20 separate resolutions, including on plans to launch a major share buyback scheme and boost [...]
Exclusive: Half of Londoners aged 75+ wish they were better prepared for retirement May 1, 2022 Almost half (49 per cent) of all Londoners aged 75 and older wish they had been better financially prepared for their retirement, according to new figures shared exclusively with City A.M. At the same time, 45 per cent of Londoners between the ages of 45 and 65 do not have a clear idea as to [...]
Football super-agent Mino Raiola dies aged 54 April 30, 2022 Dutch-Italian football agent Mino Raiola has died at the age of 54. The football super-agent, who shot to fame for his work with football legends including Paul Pogba and Mario Balotelli, died after suffering a period of sickness lasting several months, according to reports. Raiola’s family confirmed his death in a statement via Twitter, as [...]
London firm lets lawyers work-from-home in return for 20 per cent pay cut April 30, 2022 London law firm Stephenson Harwood has given its staff the option to work from home as often as they like, in return for a 20 per cent pay cut. The law firm’s new remote working policy says employees must come in at least three days a week, unless they are willing to see their salaries [...]
HSBC’s biggest shareholder tells bank to spin off Asian business April 30, 2022 China’s largest insurer has told HSBC it should break itself up and separate out its Asian operations. Shenzhen headquartered insurer Ping An has told HSBC’s board it believes the London and Hong Kong listed bank should split itself up, in order to free up the its Asian business. The Chinese insurance giant, which owns a [...]
Russia dodges default after paying debts in US dollars April 30, 2022 Russia has paid $649m worth of interest payments using its US currency reserves, in a bid to avoid a default. The payments come after Russia said it would only repay its debts in its own currency, as it claimed sanctions were blocking it from paying in dollars. The Russian Federation has now sent $649m in [...]
EY faces $2.5bn lawsuit over NMC Health audit April 30, 2022 Big Four accountancy firm EY faces a $2.5bn (£2bn) lawsuit over its audit of collapsed healthcare company NMC Health, after bankruptcy administrators yesterday said they had filed a claim against the auditor. The lawsuit comes after Abu Dhabi firm NMC Health went into administration in 2020, after the firm was accused of understating more than [...]
UK government drops audit reform from Queen’s Speech agenda April 30, 2022 The UK government is expected to announce further delays to its shakeup of the audit sector, after dropping a draft bill on audit reform from the Queen’s Speech. A draft bill to introduce a raft of measures aimed at reforming the UK’s audit industry, including by replacing the UK’s audit watchdog with a new more [...]
KPMG refuses to sign off Adler audit following allegations of wrongdoing April 30, 2022 Big Four accountancy firm KPMG has refused to sign off the 2021 financial results of German property group Adler, after an investigation by the auditor last week unveiled widespread issues with the property firm’s corporate governance. In a statement, the Berlin based real estate company, which owns 52,000 flats across Germany, said KPMG had “not [...]
Taxman waives fines for million Brits unwittingly caught in anti-money laundering crackdown April 29, 2022 The UK taxman has said it is waiving fines for those who unwittingly faced penalties for failing to list any trusts they own on anti-money laundering registers. Her Majesty’s Revenues & Customs’ (HMRC’s) decision to waive the penalties comes in the midst of a major anti-money laundering crackdown, which saw the introduction of new rules [...]
