Staff cuts in crime agencies would ‘completely undermine’ UK’s fight against oligarchs, campaigners warn July 26, 2022 Campaigners have called on the UK government to rule out plans to slash headcounts in the enforcement agencies tasked with fighting economic crime, after warning any cuts would “completely undermine” Britain’s bid to crack down on the kleptocrats, criminals, and oligarchs that seek to launder dirty money in the UK. UK government plans to cut [...]
Alibaba eyes Hong Kong primary listing as US audit row continues July 26, 2022 Alibaba is seeking a primary listing in Hong Kong as the e-commerce giant attempts to lure in more mainland Chinese investors.
Tesla’s Bitcoin holdings lead to £141.5m impairment charge and £53.3m profit July 26, 2022 Tesla had an impairment charge of $170m (£141.5m) on the carrying value of its Bitcoin holdings, while making a $64m (£53.3m) profit from selling the cryptocurrency in the first half of 2022, the company reported. In a filing with the Securities and Exchange Commission on Monday, the electric automaker said that it must recognise impairment [...]
Exclusive: Second Home dodges bankruptcy and eyes US expansion with fresh funding July 26, 2022 Shared office space firm Second Home has scooped a £7.5m funding package to dodge bankruptcy and is now eyeing up expansion in the US, City A.M. can reveal.
Environment agency says ‘no plans for water restrictions’ but people urged to be frugal July 26, 2022 There will be “no plans for restrictions on essential water use” in the immediate future despite hot weather drying up river beds and leaving parks parched. With the prospect of hosepipe bans and other measures to save H20, the National Drought Group (NDG) was convened by the Environment Agency today, in a meeting attended by [...]
Octopus enjoys $550m investment boost as energy giant looks to ramp up renewable plans July 26, 2022 Octopus Energy Group has closed its latest funding round, securing $550m from both existing shareholders and a North American pension group.
Tory leadership debate: Members back Truss over Sunak in latest poll July 26, 2022 A new poll of Tory party members has found a majority believe Liz Truss convincingly beat Sunak in last night’s BBC debate in another setback for the ex-chancellor’s chances of becoming Prime Minister. A YouGov poll today found 50 per cent of members thought Truss won and 39 per cent though Sunak won the fiery [...]
Macfarlanes’ partner pay outstrips Magic Circle’s in surging to highs of almost £2.5m July 26, 2022 Partners at ‘Silver Circle’ law firm Macfarlanes are set to receive payouts worth almost £2.5m this year, after profits at the City firm surged. The bumper payouts mean partners at Macfarlanes will be handed sums worth significantly more than those paid out to top lawyers at London’s elite Magic Circle firms. Partners at the City [...]
UBS profits drop below expectations July 26, 2022 A sharp fall in profits at UBS’s investment banking division caused by charges to deal with the fall out of the collapse of Bill Hwang’s Archegos Capital and tumbling global stock markets has raided the Swiss lender’s bottom line. UBS profits sank around $100m (£83m) over the last year to $2.1bn (£1.7bn), it announced today, [...]
SEC investigates Coinbase over crypto listings and securities concerns July 26, 2022 The SEC is investigating Coinbase over whether it allowed the trading of crypto assets that should have been registered as securities, Bloomberg reported. Coinbase maintains that it does not list securities on its platform, with the crypto exchange’s Chief Legal Officer Paul Grewal tweeting last week, “We 100% disagree with the SEC’s assertion that any [...]
