IT consultant ordered to pay £50,000 after being accused of stealing Soho House members’ personal details
HSBC and Santander must repay over £8m in overdraft fees November 29, 2019 HSBC and Santander must refund customers to the tune of millions of pounds after failing to text customers who fell into unarranged overdrafts. HSBC twice broke a legal requirement to text customers before charging them for falling into an overdraft and is refunding £8m to 115,754 customers. Read more: TSB branch closures: Which will close [...]
Finance chief becomes latest executive to leave Deliveroo November 28, 2019 Deliveroo’s chief financial officer has become the latest executive to leave the fast-growing food delivery company. Raif Jacobs, who joined Deliveroo in 2018, left the company in early October, according to a spokesperson. Read more: Deliveroo losses deepen in expansion drive Deliveroo has been hit by a string of executive departures this year following an [...]
Ebay to sell Stubhub to Viagogo for $4bn November 25, 2019 Ebay has agreed to sell its ticket sales platform Stubhub to Viagogo in a deal worth $4.05bn, following pressure from activist investors to offload parts of its business. The auction site bought Stubhub for $310m in 2007, but in March this year it launched a strategic review of its assets following pressure from activist investors [...]
General Election 2019: Conservative Party to ditch central tenet of Big Four audit reform plans November 25, 2019 The Conservatives will throw out a proposal to impose mandatory joint auditors on large companies if they win the General Election. Officials at the Department for Business, Energy and Industrial Strategy (Beis) have in recent weeks indicated that the system is unlikely to be introduced as part of wider reform of the auditing sector, Sky [...]
What is microfinance and why does it matter for investors? November 25, 2019 Exclusion from the financial system is widely regarded as a major obstacle to people’s efforts to grow out of poverty. In 2017, 1.7 billion adults across the globe had no access to a bank account, with the vast majority of them living in emerging and frontier markets. 56 per cent of these were women, and [...]
KPMG to slash partner bonuses by up to 40 per cent November 24, 2019 Partners at KPMG are facing steep cuts to their bonuses as the accounting giant cuts costs in a bid to prepare for tighter regulation of its audit work. Partners’ bonuses – which can reach hundreds of thousands of pounds – are set to fall by as much as 40 per cent this year, according to [...]
Huawei: The fake choice between US and China will weaken the world economy November 22, 2019 Over the last year, the UK and its European partners have been asked to make a false choice between the US and China. What started with a series of false claims about Huawei’s role in telecoms infrastructure has broadened into a wider campaign that places the very concept of globalisation and the global economy at [...]
John McDonnell says Labour will break up Big Four ‘cartel’ November 19, 2019 Shadow chancellor John McDonnell today promised to break up the “cartel” of the Big Four accounting firms if Labour wins the upcoming election. “Under Labour the Big Four companies will not be allowed to continue to act like a cartel,” McDonnell told a Westminster audience during a speech on Labour’s plans for the economy. The [...]
Pub operator Ei Group reports earnings drop ahead of Stonegate deal November 19, 2019 Ei Group, the pub operator being bought by Slug and Lettuce owner Stonegate, reported that earnings dropped this year after the disposal of 354 venues. The figures Revenue was up 4.17 per cent from £695m to £724m, in the 12 months to 30 September. Read more: Competition watchdog to examine £1.3bn tie-up between Stonegate and [...]
Why passionate innovators make for better investors November 19, 2019 What does it take to succeed in business and investing? Differentiation is among the key ingredients. You need to offer a product that differs from the competition in a way that clients recognise as added value. If you want to beat the market as an investor, the first thing you need to do is something [...]