Screws turn on Carillion executives as business secretary Greg Clark weighs in on misconduct probe January 17, 2018 Pressure was mounting on Carillion’s former top brass last night after the government promised a thorough investigation into the actions of the failed firm’s executives. A probe by the Official Receiver was ordered to be fast-tracked and widened by business secretary Greg Clark. “Any evidence of misconduct will be taken very seriously,” he said. Cabinet [...]
Carillion’s car crash reminds us that the spectre of bailouts still haunts Whitehall January 15, 2018 As the farce surrounding Carillion escalates, it is worth remembering the many people who will suffer as a result of the construction and outsourcing firm’s decline. A collapse of Britain’s second-biggest contractor would have dire consequences for its 43,000 global workforce, around 20,000 of whom are employed in the UK. Then there are pensioners. A [...]
Carillion could crash into administration as early as Monday if the government doesn’t back a rescue plan January 13, 2018 Troubled construction firm Carillion could fall into administration as soon as Monday if the government does not back a rescue plan, according to reports. Government officials are set to hold crunch talks on the firm’s fate on Sunday, Sky News reported, quoting a source that called it a “make-or-break weekend”. “Without that commitment of support [...]
Carillion: Trade credit insurers pull cover as Carillion “hangs by a thread” January 13, 2018 Euler Hermes and other trade credit insurers have stopped writing new coverage for suppliers to embattled contractor Carillion, sending a signal the company is at risk of collapse, according to reports. Tokio Marine HCC and MGA Nexus also said they would not insure deliveries to the firm, Insurance Insider reported. Trade credit insurance protects firms [...]
Day of the Mifids: Controversial EU Mifid II regulations for the asset management industry finally kick in January 3, 2018 A long-awaited regulatory shake-up, touted as the biggest to hit financial markets since the 1986 “big bang”, has finally rippled through the City and across Europe today. The second Markets in Financial Instruments Directive (known as Mifid II) has already cost top global banks and asset managers $2.1bn (£1.5bn), a study from the Boston Consulting [...]
Revealed: Behind the scenes of Carillion’s annus horribilis December 21, 2017 Troubled construction giant Carillion hit the headlines again yesterday after it announced its interim chief executive Keith Cochrane will be replaced almost three months earlier than planned. When Andrew Davies, who was set to take over on 2 April 2018, starts on 22 January, he will become the company’s third chief executive in six months. [...]
Carillion share price: Behind the scenes of the construction giant’s annus horribilis December 21, 2017 Troubled construction giant Carillion hit the headlines again yesterday after it announced its interim chief executive Keith Cochrane will be replaced almost three months earlier than planned. When Andrew Davies, who was set to take over on 2 April 2018, starts on 22 January, he will become the company’s third chief executive in six months. [...]
Tax reform “just days away” says President Donald Trump as Congress scrambles to bring bill before Christmas December 17, 2017 Businesses in the US and abroad are bracing for a major upheaval in the tax system as President Donald Trump tries to rush through a vote on $1.5 trillion in tax cuts before Christmas. Trump today said Congress is “just days away” from delivering on its campaign promise. The President said he would deliver to [...]
London Overground Night Tube service arrives today: Here’s what you need to know about the new 24-hour service, including route map and timings | City A.M. December 15, 2017 You may have heard the Night Tube is expanding once more, and branching out to the London Overground this week. From tonight, new 24 hour services will get underway each Friday and Saturday between Dalston Junction and New Cross Gate. Here’s what you need to know about the rollout, including whether more Night Tube services [...]
Should you hold Bitcoin as part of a diversified portfolio? December 13, 2017 Amid the hoopla over the recent meteoric Bitcoin price rise – from $968 at the end of 2016 to over $16,500 on 11 December 2017 – some are now questioning whether the cryptocurrency should be taken more seriously. While we don’t agree that you should hold Bitcoin as part of a diversified portfolio, we believe [...]