KPMG plans to hikes fees by up to 20 per cent due to higher cost of staffing May 19, 2022 Big Four accountancy firm KPMG has warned clients it is planning to substantially increase its audit fees, in order to pay for higher salaries. The auditor told its clients it plans to increase fees by between 5 per cent and 20 per cent due to facing higher costs linked to new industry rules and the [...]
Big institutions still investing heavily in cryptocurrency May 17, 2022 Massive financial institutions remain unmoved in their plans to plough billions into investing in cryptocurrency.
KPMG hires CryptoUK exec to boost digital assets and Web3 offerings May 17, 2022 KPMG has hired CryptoUK exec Ian Taylor to lead the Big Four accountancy firm’s crypto and digital assets team, in line with plans to strengthen its crypto offering. The firm said the former executive director of the UK’s crypto industry trade body will continue to have an advisory role at CryptoUK alongside his new position [...]
Investment group backed by ex-Tesco boss probed over allegations of £2m Covid loan misuse May 11, 2022 We Are Nova, a start-up investment group with support from ex-Tesco chief Sir Terry Leahy, is being probed over claims it misused Covid loans. According to The Times newspaper, companies associated with We Are Nova netted almost £2m through the government’s bounce back loan scheme. However, the firms did not seem to be eligible for [...]
Only transparency about emissions will stop the angry shouts of climate protesters May 10, 2022 What do ABBA, top hats and champagne all have in common? For starters, they all made an appearance at HSBC’s recent annual general meeting of shareholders. A vocal group of climate activists upended the global bank’s proceedings when they descended on Southbank’s Queen Elizabeth Hall wearing top hats, sipping from champagne flutes and even breaking [...]
Barclays leverages Luxembourg deal to avoid nearly £2bn in tax May 9, 2022 British lender Barclays has avoided almost £2bn in tax by booking profits through tax haven Luxembourg for more than a decade, according to reports.
Inside Barclays chaotic shareholder meeting: AGM halted as security chase and drag out dozens of climate activists May 4, 2022 Barclays’ annual shareholder meeting was disrupted by a small army of climate change protesters who had to be forcibly removed by security. The banking giant’s AGM in Manchester got off to a chaotic start after a series of disruptions from green activists in the audience. Chairman Nigel Higgins was forced to pause the meeting while [...]
The City View: Victoria Scholar on Q1 and surprise negative GDP growth in US April 28, 2022 Today Andy Silvester hosts Victoria Scholar, Head of Investment at Interactive Investor. They go through Q1 results, where there’s been unexpected negative GDP growth in the US, strong results for Standard Chartered, and a mixed bag for Barclays and Meta; and talk China’s firm zero-Covid stance and its potential inability to backtrack.
Barclays kicks shareholder goodies into long grass again after $15bn trading blunder April 28, 2022 British banking giant Barclays has kicked its share buyback programme into the long grass for the second time after it booked huge costs to draw a line under an unprecedented trading blunder, it announced today. The lender last month said it had sold more than $15bn (£12bn) of financial products than it was allowed to, [...]
London-listed banks boost the City as earnings season rumbles on April 28, 2022 London-listed banks continued to boost the City this morning as lenders’ earnings season presses on full-steam ahead. The capital’s premier FTSE 100 index climbed 0.88 per cent to 7,491.03 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.95 per cent to 20,631.69 points. [...]