The Met drops sexual assault claims against Prince Andrew after review October 11, 2021 The Metropolitan Police has decided to drop sexual assault claims against Prince Andrew after reviewing a document released as part of a US case against the Duke. The complainant, Virginia Giuffre, is seeking damages after alleging that Prince Andrew sexually assaulted her three times while she was 17, after being trafficked to the UK by [...]
FCA in hot water over £230m London Capital & Finance scandal redress October 11, 2021 The UK’s financial watchdog has come under fire by an independent commissioner for its handling of the £237m London Capital & Finance (LCF) investment scandal. The Financial Conduct Authority (FCA) is reportedly at risk of censure from the financial regulator’s complaints commissioner, which investigates complaints against institutions like the FCA, the Bank of England’s Prudential [...]
London needs some of Johnson’s ‘levelling up’ as inequality swells, says new report October 8, 2021 London is in need of some attention from Boris Johnson’s levelling up agenda, as the capital had the highest poverty rates even before Covid-19 – a pandemic which has widened existing inequalities across the board in the UK. Three in five, or 58 per cent, of people in poverty in inner London are in a [...]
Former Tory MP and security minister James Brokenshire dies aged 53 October 8, 2021 Former security minister James Brokenshire died at the age of 53 on Thursday evening after a three-year long battle with lung cancer. The prime minister Boris Johnson and former leader Theresa May both issued their condolences on Twitter. His family said in a statement today: “James was not only a brilliant Government minister as both [...]
HSBC’s £36bn pension scheme pledges to be net zero by 2050 at the latest October 8, 2021 HSBC’s pension scheme, one of the largest corporate pension schemes in the UK, has pledged to achieve net zero carbon emissions by 2050 or sooner. In the run up to COP26, an increasing number of activists have zeroed in on fossil-fuel investing pension funds and wider financial institutions like HSBC and Lloyds for carbon-heavy investments. [...]
Ireland scraps low corporation tax to fall in line with global peers October 8, 2021 Ireland is set to hike its corporate tax rate from 12.5 per cent to 15 per cent, as the country signs up to a global tax reform for minimum rate internationals. Its low tax rate had previously drawn in tech giants like Apple and Facebook, who both centre their European operations there. The reform, finalised [...]
FTSE 100 lifted slightly by travel stocks October 8, 2021 The FTSE 100 inched 0.3 per cent higher this morning, as travel stocks lifted the index after a hoard of destinations were taken off the red list. British-Airways owner ICAG, Whitbread and Ryanair gained between 0.5 per cent and 2.9 per cent. Though the FTSE 250 slipped 0.12 per cent dragged by fellow travel heavyweight TUI, which [...]
City Moves: Who’s switching jobs in the Square Mile today? October 8, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Brewin Dolphin Wealth manager Brewin Dolphin has posted a new the wealth director to its 1762 team at 8 Waterloo Place in St James’s, London. Kam Bagga joins the ‘1762’ team, which offers wealth advisory services for [...]
CMC snaps up over 500,000 share investing clients, pocketing assets of around £24bn October 7, 2021 Client assets under management remain at near record levels at online trading platform CMC, as it snaps up over 500,000 share investing clients from ANZ. The B2B platform acquired the shares in September, which brought an end to the existing white label partnership. CEO Lord Cruddas said: “We closed the first six months with a [...]
Tesco hands out £193m to investors to settle accounting scandal October 7, 2021 Tesco has handed out £193m to settle an accounting scandal from seven years ago, a larger figure than it received from the UK’s fraud watchdog. The country’s largest supermarket confirmed that it had settled claims from investors with two law firms that had brought legal proceedings against it last September. The investors include Allianz, Russell [...]