Whitehall needs stronger independent regulator, says former top civil servant November 8, 2021 The UK Civil Service is an unaccountable “closed shop” and there needs to be stronger independent regulation of Whitehall, according to a former top mandarin. Lord Nick Macpherson, former permanent secretary at the Treasury, said there needs to be a “dramatic overhaul of the appointments system” to end the era of “personal patronage” in Whitehall. [...]
How finance can help forge a cleaner future for all November 5, 2021 This article first appeared in ICAS’ CA magazine. Finance can help forge a cleaner future for all, and the contribution of accountants will prove essential, says James Alexander, CEO of the UK Sustainable Investment and Finance Association Earlier this year, the UK Sustainable Investment and Finance Association (UKSIF) celebrated its 30th birthday by publishing its policy [...]
ONS: Firms increasingly hiking prices as supply chain crisis bites November 4, 2021 Nearly two-fifths of UK firms reported higher costs across their supply chains in new official data, with many passing on the increase to consumers. New ONS data has seen a significant increase in the number of firms putting up prices, from 4 per cent at the start of the year to 15 per cent in [...]
Mark Kleinman: Will Barclays be able to explain their backing for Staley? November 4, 2021 Sky News’ Mark Kleinman is the man the City reads – and in his fortnightly column for City A.M., he shares his insight and analysis. Barclays in the headlines again What is it about Barclays and rough-Diamond bosses? In the end, the surprise was not so much that Jes Staley left the British bank mired [...]
More than half FTSE100 firms commit to ending carbon emissions by 2050 November 4, 2021 Almost two-in three FTSE100 firms are now committed to ending their carbon emissions by 2050, after a new group of companies recently signed up to a United Nations campaign. Sixty FTSE100 firms have now signed up to the UN’s Race to Zero campaign, with bluechip companies like Barclays, AstraZeneca, Coca Cola HBC and HSBC all [...]
Ex-Barclays chief Staley to receive £22m bonus windfall November 3, 2021 Former Barclays chief Jes Staley who quit this week to fight the findings of a report into his relationship with convicted sex offender Jeffrey Epstein is in line receive bonuses of up to £22m. The American banker could receive around 11m shares in the bank he headed for six years if it hits performance goals [...]
Questions for Barclays board remain even after CEO departure November 1, 2021 The board is disappointed at this outcome,” said Barclays statement to markets yesterday morning. As understatements go, it’s up there with Spike Milligan’s “I told you I was ill” epitaph. That Jes Staley has left the firm is not, necessarily, a surprise. It has been rumoured that he was ready to give up the gig [...]
Ex-Barclays banker banned for life after Euribor rigging November 1, 2021 A former Barclays banker, convicted for rigging a benchmark rate, has been handed a lifetime-ban by the Financial Conduct Authority (FCA) from working in the finance sector again. In 2019 Colin Bermingham was found guilty of manipulating the Euribor benchmark by a majority verdict of a jury, and sentenced to five years in prison. In a [...]
Jes Staley leaves Barclays: CEO exits bank after shock report on Epstein links November 1, 2021 Embattled Barclays chief Jes Staley has left his post over his ties with with late convicted sex offender Jeffrey Epstein. Staley will leave his role as chief executive of the bank with immediate effect after a probe into his links with Epstein suggested he mischaracterised the relationship to his employer and UK regulators. The bank’s [...]
London markets climb as Staley steps aside after FCA Epstein probe November 1, 2021 London markets climbed during the opening session of November as Barclays chief Jes Staley stepped down after UK regulators showed the bank preliminary findings of its investigation into his ties with disgraced financier Jeffrey Epstein. The capital’s FTSE 100 premier index advanced 0.60 per cent to hit 7,280.97 points, while the mid-cap FTSE 250 climbed [...]