Streamline tax rules to stop Paris ‘biting’ the City’s heels, Deutsche Bank’s UK head warns June 29, 2023 The UK should reconsider the high rate of tax it charges on banks and financial services firms to boost London’s standing, Deutsche Bank’s UK head said. Speaking at The City UK’s annual conference, Tiina Lee, who has been in the role for nearly five years, said “the one area to highlight” in regards to the [...]
Thames Water: City grandee and crisis specialist Sir Adrian Montague lined up as new chair June 29, 2023 Thames Water has lined up long-standing city grandee and crisis specialist Sir Adrian Montague as it new chair.
What we were able to change with the Financial Services and Markets Bill – part three June 29, 2023 Part three: Lord Holmes addresses his proposals on artificial intelligence that were not accepted by the Government.
Divergence forming between Bitcoin and Ethereum June 29, 2023 Bitcoin continues moving to a metronomic beat as it starts the morning around $30,400, as it’s done for much of the week.
Mortgages: Number of people securing a home shot up weeks before BoE hiked rates June 29, 2023 Mortgage approvals continued to show signs of improvement in May, rising to 55,500 for the month as a whole up across the UK – up from 49,000 for the month of April, new data shows. The data provided by the Bank of England (Boe) is a fresh kick in the teeth for prospective buyers, who [...]
Bank of England chief economist Huw Pill admits forecasts have struggled to explain inflation shock June 29, 2023 Any central banker would have struggled to accurately forecast the impact of the series of shocks that have hit the UK economy, the Bank of England’s chief economist claimed today. Huw Pill, a former Goldman Sachs banker, in response to a letter from the Treasury select committee today hit back at critics who have slammed [...]
Dorries and Rees-Mogg ‘waged campaign to undermine’ privileges committee probe into Johnson June 29, 2023 Boris Johnson allies Nadine Dorries and Jacob Rees-Mogg were among MPs who attempted to undermine the privileges committee’s investigation into the ex-prime minister. Eight current and former MPs – Dorries, Rees-Mogg, Lord Zac Goldsmith, Mark Jenkinson, Michael Fabricant, Brendan Clarke-Smith, Andrea Jenkyns, and Priti Patel – were involved in a “campaign waged outside Parliament… to [...]
KPMG and PwC slapped with fines of almost £3m for botched Eddie Stobart audits June 29, 2023 Big four accountancy firms PwC and KPMG have been fined a total of nearly £3m over botched audits of logistics giant Eddie Stobart in 2017 and 2018. The Financial Reporting Council (FRC) said this morning it would fine PwC £1.99m and partner Philip Storer £51,000, with both receiving a “severe reprimand.” KPMG received a fine [...]
Moonpig sales boosted by higher prices despite pre-tax profit dip after Royal Mail strikes June 29, 2023 Moonpig Group has revealed a jump in sales as it upped the prices of its greetings cards, but said consumers were buying fewer cards and sending cheaper gifts. The online greetings cards and gifts giant saw its profits decline as it notched up higher costs. It reported a 5.2 per cent increase in its group [...]
Uhoh: Oxford study shows AI really can pick funds better than humans June 29, 2023 An Oxford University study suggests that artificial intelligence and machine learning can pick private equity funds that deliver above-average returns
