George Osborne’s great government sell-off: Taxpayers risk getting burnt as sun may yet shine on RBS June 10, 2015 So after almost seven years, the moment has arrived. The symbolic importance of George Osborne’s announcement last night that the Treasury is to begin selling Royal Bank of Scotland (RBS) shares at a loss is hard to overstate. “I’m not interested in what is easy – I’m interested in what is right,” he told [...]
Retailers’ relationships with suppliers go under the microscope in wake of Tesco profit overstatement May 29, 2015 The relationship between grocers and their suppliers will go under the microscope next year, as regulators attempt to stamp out the sort of behaviour that led to Tesco overstating its profits by £263m. The Financial Reporting Council, which monitors auditing and accountancy in the UK, said it would spend next year paying particular attention [...]
The A-Z of the 2015 General Election night: What time do polling stations open, how to find your nearest one, and when results come out May 7, 2015 If you're wondering what time the polling stations open, to how you can you find out which one they need to go to, to how long you'll have to stay up if you want to watch the results as they come out. From absentee ballots to voters who choose "zero", here's our quick A-Z guide of [...]
London’s General Election: Isle of political dog fights – battle for Poplar and Limehouse at the edge of the City April 30, 2015 A council estate in the East End is not exactly what you envisage as a typical Tory heartland. But on the Isle of Dogs, in the shadow of the financial district, Conservative General Election candidate Chris Wilford is leading an insurgency he hopes one day will make it so. His is a rebellion triggered by [...]
General Election 2015: Better Capital founder Jon Moulton wants simplified legislation and free trade with Europe April 14, 2015 ELECTION COUNTDOWN: 22 DAYS TO GO Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party. JON MOULTON: FOUNDER OF BETTER CAPITAL This is to the party of my upbringing and closest to my beliefs [...]
Deloitte and its partner reduce fines in MG case April 13, 2015 THE FINANCIAL Reporting Council (FRC) reduced sanctions on accountancy firm Deloitte and its former partner Maghsoud Einollahi yesterday after the duo’s successful appeal regarding the collapse of MG Rover in 2005. An appeal hearing in January overturned eight of the FRC tribunal’s 13 findings of misconduct and disregarding public interest from 2013. Upon review of the appeal, [...]
Deloitte fine over MG Rover case reduced to £3m after appeal tribunal April 13, 2015 Deloitte has been fined £3m by a City watchdog over failures in the lead-up to the collapse of MG Rover a decade ago. The penalty is a significant reduction on an initial fine imposed last year, following an appeal by Deloitte and former partner at the firm Maghsoud Einollahi, the advisers who worked on MG Rover's sale [...]
City Moves for 31 March 2015 | Who’s switching jobs March 30, 2015 Allianz Global Corporate & Specialty Rishi Baviskar has been appointed cyber risk consultant in Allianz’s corporate and specialty insurance business’s global risk consulting team. He has over 15 years’ experience working in IT for oil, gas, car, and pharmaceutical companies. Financial Reporting Council Jennifer Walmsley has been appointed director of investor engagement at the Financial [...]
Budget 2015: Here are George Osborne’s best quotes plus his Budget speech in full March 18, 2015 George Osborne's final Budget during this parliament had few surprises but plenty of great quips, including – to the dismay of bookies everywhere – a quip about Ed Miliband's now-infamous second kitchen. Here's a selection of our favourites from today's big speech. (Source: Getty/City A.M.) (Source: Getty/City A.M) (Source: Getty/City A.M.) [...]
Open Europe reveals 100 EU regulations that cost Britain £33bn March 16, 2015 The EU's 100 most draconian regulations are costing Britain over £33bn a year, according new analysis from the think-tank Open Europe. Adding insult to injury, the report reveals the accompanying impact assessment found the costs of a quarter of these regulations outweighed the estimated benefits, but were signed off by the British government all the [...]