Bank of England expects to internal report on audio feed misuse in April March 3, 2020 The Bank of England expects an internal report into misuse of its audio feeds to go the bank’s directors in April, after it emerged that hedge funds were able to access a market-sensitive feed ahead of its official broadcast. Outgoing governor Mark Carney told the Treasury committee today that he expected the BoE’s court — [...]
DVLA says excuses for not paying car tax include too many chickens and looming jail time March 3, 2020 The Driver and Vehicle Licensing Agency (DVLA) said today that excuses it has received for not paying vehicle tax included their van being full of chickens. The agency said that inventive excuses it had received for nonpayment included: “I’m about to start a prison sentence, so is there any way you could hang on to [...]
Coronavirus: Mark Carney warns of ‘large economic shock’ March 3, 2020 Bank of England governor Mark Carney has said the economic shock from coronavirus “could prove large” but sought to reassure the public that it will “ultimately be temporary”. The outgoing governor told parliament today that the central banks and governments around the world are working on a “powerful” response to the crisis that will likely [...]
How does the stock market perform when the VIX fear gauge surges? March 3, 2020 The spread of the coronavirus has sent shock waves through global stock markets. Alongside plummeting share prices, the VIX index, the market’s so-called fear gauge, has shot up. At the time of writing, on 28 February, it stands at over 40. This is very high compared to long-term norms. Since 1990, it has averaged 19 [...]
EY strengthens tax controversy and risk management team with five key appointments March 3, 2020 EY has announced the arrival of five key appointments to its tax controversy and risk management team, expanding its tax litigation and corporate crime service offerings to clients. The new arrivals are all practicing solicitors. James Wilson, EY Partner and head of the Tax Controversy and Risk Management team comments: “We’re delighted to welcome these [...]
“Diversity drives better investor outcomes” says Margaret Franklin, CFA March 3, 2020 Investors are bracing for a bear market sometime in the future. And when it comes, it will be more critical than ever for firms to embrace diversity on their investment teams and in their senior ranks if they want to deliver better outcomes for clients. That’s the reality and the challenge that Margaret “Marg” Franklin, [...]
Sky confirms Disney Plus deal as it ramps up streaming war chest March 3, 2020 Sky today confirmed it has signed a multi-year deal with Disney Plus to make the nascent streaming service available to its pay-TV customers. The deal means Disney Plus will be fully-integrated on Sky Q, while Now TV subscribers will be able to access the service in the coming months. Disney Plus, which launches in the [...]
UK coronavirus battle plan: Businesses warned that a fifth of workforce could be absent March 3, 2020 Up to a fifth of the UK’s workforce could be made absent by coronavirus during its peak weeks, the government warned as part of its action plan published today. Downing Street is bracing itself for a reasonable worst-case scenario, warning that it is “more likely than not that the UK will be significantly affected”. Up [...]
G7 ‘will not call for fiscal or monetary support’ in coronavirus statement March 3, 2020 The G7 nations will voice their determination to combat the economic impact of the coronavirus outbreak, but reportedly will not directly call for new government spending or coordinated interest rate cuts. Finance ministers and central bank governors from the G7 are due to issue a statement following a conference call on the epidemic at midday, [...]
British Steel future secure as Jingye set to complete £50m purchase March 3, 2020 British Steel’s survival has finally been confirmed this morning as Chinese conglomerate Jingye announced that it would complete the acquisition of the troubled steelmaker next week. The deal, which will be signed on 9 March, will preserve 3,200 of the firm’s jobs in Scunthorpe and Teeside, with 100 moving over to Barrett Steel after the [...]
