FRC watchdog probes EY audit of Thomas Cook accounts October 1, 2019 The UK’s financial watchdog has launched an investigation into EY’s audit of Thomas Cook’s last set of financial results. The Financial Reporting Council (FRC) has started its probe into EY’s audit of the collapsed tour operator’s financial year ending 30 September 2018. Read more: DEBATE: Is Thomas Cook’s boss right to defend his high pay? [...]
UK consumer credit growth slows to five-year low September 30, 2019 British customers increased their borrowing at the slowest rate since 2014 in August, official statistics showed today, in a sign that Brexit uncertainty is weighing on consumer confidence. Read more: Pound staggers as Bank of England hints at interest rate cut The annual growth rate of lending to British consumers continued to slow in August, [...]
More heat than light in Thomas Cook debate September 29, 2019 One Thomas Cook was bailed out last week. Thanks to the generosity of friends, family and the Linden Princess Hotel in Rhodes, Thomas Cook’s wedding to Amelia Binch went ahead last Friday. The couple feared all was lost after the travel operator, with whom they had booked a wedding package, collapsed in spectacular style. More [...]
Thomas Cook: MPs launch inquiry into ‘corporate greed’ at collapsed holiday giant September 26, 2019 Thomas Cook bigwigs will be hauled in front of MPs in the coming months and forced to explain the firm’s catastrophic collapse, which left 150,000 Brits stranded abroad and forced the biggest peacetime repatriation in history by the British government. After meeting this afternoon, the Commons’ business select committee agreed to launch a wide-ranging inquiry [...]
Thomas Cook collapse: Regulators and business groups clamour for answers September 24, 2019 Regulators and business groups today lined up to demand answers over the collapse of holiday giant Thomas Cook. Accounting watchdog the Financial Reporting Council said it is mulling a full-scale probe into whether it breached accounting standards. A spokesman said it is considering the case “as a matter of urgency”. Read more: Thomas Cook collapse [...]
Thomas Cook: Watchdog mulls whether to probe collapsed airline’s accounts September 24, 2019 Britain’s accounting watchdog is looking into investigating whether Thomas Cook breached accounting standards, after the travel giant collapsed yesterday. Nearly 15,000 people returned to Britain yesterday on specially-chartered flights after the firm collapsed under the weight of a £1.7bn debt pile. Read more: Was the collapse of Thomas Cook inevitable? The Financial Reporting Council said [...]
UK fintechs attracting rising investment despite Brexit uncertainty September 23, 2019 UK fintechs are raising increased levels of investment despite domestic and global uncertainty, but the sector is still struggling with recruitment of talent and a significant gender imbalance, new research has found. The total average investment raised so far this year by fintech firms grew a third compared to the same period two years ago, [...]
Helena Morrissey among candidates in running for Bank of England governor job September 22, 2019 Prominent City veteran Dame Helena Morrissey is in the race for the top job as Bank of England governor. The high-flying financier could become Threadneedle Street’s first female boss after making it into a shortlist of candidates being considered to replace Mark Carney next year. Read more: Big banks shift just 1,000 jobs since Brexit [...]
Big banks shift just 1,000 jobs since Brexit vote, EY reports September 20, 2019 Just 1,000 jobs within the big banks have left the City since Brexit, a new report from EY has found. According to the accountancy giant, among the large investment banks monitored in its tracker under 1,000 jobs have already relocated to the continent. Read more: Worldwide climate strikes set to start The figure represents 15 [...]
Sterling falls on lower inflation and Brexit concerns September 18, 2019 Sterling has fallen against the dollar this morning after UK inflation undershot expectations and traders’ nerves grew over Brexit. Read more: Falling computer game prices drag UK inflation to lowest rate in three years The pound was 0.4 per cent lower against the dollar by 10.45am UK time to buy $1.245. Yet the fall was [...]