Londoner on the run: Convicted money launderer who smuggled millions out of the UK wanted by the NCA December 22, 2021 The National Crime Agency is appealing for information on the whereabouts of a convicted money launderer who talked of moving up to £50m out of the UK every month. Abdul Fahad, 41, of Meads Lane, Ilford, was arrested by NCA officers in 2018 after bundles of cash totalling more than £100,000 were found in his car. He was charged [...]
Christmas in Canary Wharf: UK’s largest banks face £8.5bn HMRC bill with £35.8bn of tax under consideration December 22, 2021 Large banks face a potential £8.5bn tax liability from the UK tax authority, according to new figures obtained by Freedom of Information (FOI). The FOI to HM Revenue and Customs (HMRC), carried out by City law firm DLA Piper, showed that, at the end of March 2021, additional tax liability under investigation had increased by [...]
Brexit shift: UK short exposure in Europe declines by a third this year to lowest in five years while France and Italy take over December 22, 2021 The UK’s relative short exposure compared to the rest of Europe has steadily declined by a third to the end of November, its lowest level in over five years. Meanwhile, France and Italy are gaining ground, according to new data shared with City A.M. this morning. The change marks a dramatic shift in the short [...]
Average house price of £29m: Here are 2021’s most expensive UK streets (and they are all in London) December 22, 2021 If you have a spare £29m in the bank, you may be able to buy yourself a property in the most expensive street in England and Wales, or London rather, as the five most pricy streets in the country are all in the capital. Nestled by the River Thames, Tite Street in the Borough of [...]
Created adult content giant OnlyFans from his brother’s kitchen: Tim Stokely steps down as CEO to find ‘my next challenge’ December 22, 2021 The man behind the successful adult content platform OnlyFans has said he is leaving the hugely popular website as he is seeking a new challenge. Created in 2016 by Tim Stokely, the subscription content platform allows users to earn money from subscribers on a monthly basis and is popular with sex workers. The service experienced [...]
UK economic growth: Sharp pullback as GDP climbs by just over 1 per cent and contraction expected this month December 22, 2021 The UK economy grew at a slower pace than first thought between July and September, at 1.1 per cent, compared with the 1.3 per cent initial estimate, the Office for National Statistics said this morning. This was before the impact of the new Omicron variant of coronavirus. This marks a sharp pullback on growth in [...]
City fine: Bank of England tells Metro Bank to pay millions for reporting and governance failures that went on for years December 22, 2021 Metro Bank was told this morning by the Bank of England to pay close to £5.4m for failures with regards to the quality of its reporting and governance. The central bank’s Prudential Regulation Authority (PRA) watchdog confirmed it imposed the penalty on the challenger bank over failings between May 2016 and January 2019. On January [...]
Victory for Lord Rothermere: End of an era as Daily Mail group exits London Stock Exchange after listing nine decades ago in 1932 December 22, 2021 The Daily Mail’s biggest shareholder – Lord Rothermere – is heading for victory in his bid to take the Daily Mail group private as the company will be delisted from the London Stock Exchange after almost 90 years. The newspaper tycoon made a “final” offer to investors in Daily Mail & General Trust (DMGT) earlier [...]
As Omicron cases surge, question of ‘when, rather than if’ Covid new restrictions are coming December 21, 2021 As Covid infections surge across London and the rest of the UK, healthcare leaders have said it is now a question of “when, rather than if” new restrictions will be enforced. NHS Confederation chief executive Matthew Taylor has suggested the introduction of stricter measures is inevitable amid the rapid spread of coronavirus fuelled by the [...]
Not happening: Sadiq Khan cancels New Year’s Eve events in central London as Omicron cases surge December 21, 2021 As cases of the Omicron Covid variant in the capital surge, London’s New Year’s Eve celebration event in Trafalgar Square will not take place this year, it was announced this evening. London mayor Sadiq Khan has said the event, which was set to be open to around 6,500 key workers and members of the public, [...]
