MPs call for audit watchdog to reform after endorsing new chair Simon Dingemans July 22, 2019 An influential committee of MPs has called for radical reforms from Britain’s accountancy watchdog after endorsing the appointment of its proposed new chair. Parliament’s Business, Energy and Industrial Strategy Committee (Beis) has given its approval for Simon Dingemans to take over as chair of the Financial Reporting Council (FRC), but has urged the group to [...]
Tory MP Charlie Elphicke charged with three counts of sexual assault July 22, 2019 Conservative MP Charlie Elphicke has been charged with three counts of sexual assault against two women, the Crown Prosecution Service (CPS) has revealed today. Read more: Government launches review into Britain’s financial rules post-Brexit A CPS spokesperson said: “The Crown Prosecution Service has today (Monday 22 July) charged Charles Elphicke, MP for Dover, with three [...]
NIESR: One in four chance UK might already be in recession July 22, 2019 Britain might have already fallen into a technical recession, an influential think tank has warned this morning, as it forecasts growth of one per cent even if a no-deal Brexit is avoided. The National Institute of Economic and Social Research (NIESR) has said there is a one-in-four chance that the UK economy has already slipped [...]
MPs turn up the heat on Standard Chartered boss over pension pay row July 22, 2019 Standard Chartered’s under-fire boss is facing mounting pressure from politicians following a major fallout with shareholders over his controversial pay packet. Chief executive Bill Winters has come under fire today from public figures over a pension pay row that has rocked the firm’s relationship with its investors over recent weeks. Read more: Judge dismisses Credit [...]
Dividends hit record but experts warn that underlying picture is worsening July 22, 2019 A three-month period of record dividends might normally bring a smile to the face of shareholders, but a spate of huge one-off special payouts has been masking a wider market slowdown over the last quarter. Temporary boosts from a falling pound and several large special dividends pushed the total sum paid out to a record [...]
Cashplus posts revenue record as it prepares to submit final banking licence July 21, 2019 Cashplus, one of Britain’s longest-established digital challenger banks, has hailed a record year of revenues, as it gears up to submit its final banking license in the coming weeks. The digital lender has told City A.M. that revenues rose 19 per cent year-on-year to £45.6m in March, while operating profits rose for the eighth consecutive [...]
Iranian seizure of tanker ‘constitutes illegal interference’, UK tells UN July 21, 2019 The UK has told UN authorities that Iran’s seizure of a British-flagged tanker “constitutes illegal interference”, as the diplomatic crisis in the Strait of Hormuz worsens. In a letter to the United Nations Security Council, Britain’s UN mission wrote this weekend that the Stena Impero “was exercising the lawful right of transit passage in an [...]
Government launches review into Britain’s financial rules ahead of Brexit July 19, 2019 The City’s financial rules are set to be reviewed by the government ahead of Britain’s departure from the EU. While there are no plans to change the format of the current financial watchdogs, the government has launched a review into how regulation within the financial sector could be changed post-Brexit. Read more: Jeremy Hunt misses [...]
City of London pledges plastic waste cut July 19, 2019 The Square Mile’s policy-making body has vowed to cut down on its use of plastics at The Mansion House and Guildhall. New plans to eradicate “unnecessary single-use plastic waste” have been unveiled by the City of London Corporation, which is bringing in new staff procurement rules in a bid to reduce its environmental impact. Read [...]
Judge dismisses Credit Suisse claims in £239m banking bonus row July 19, 2019 A UK court has dismissed an attempt from Credit Suisse to recoup £239m that it paid as a one-off tax on bonuses, closing the curtains on a decade-long tussle that was sparked by the financial crisis. Read more: Dixons Carphone executives delay bonuses The Swiss multinational bank has lost a legal battle with HMRC over [...]
