EY faces investigation over audit of Made.com before firm collapsed April 20, 2023 The UK’s audit watchdog has launched an investigation into EY’s audit of Made.com before the firm collapsed late last year. The online furniture business went into administration in November after rescue talks to find a buyer failed. The Financial Reporting Council announced today that it will start investigating EY’s audit of the firm’s accounts for [...]
SNP leader Humza Yousaf denies party close to bankruptcy April 16, 2023 Humza Yousaf has denied the Scottish National Party (SNP) faces bankruptcy as he confirmed forensic auditors could be appointed to investigate its finances. The first minister said a governance and transparency review would be carried out as he insisted the SNP is “solvent”. Yousaf, speaking shortly after the SNP’s National Executive Council (NEC) met, said: [...]
Hunt mulls pension reform amid concern older Brits not getting ‘returns they could expect’ April 14, 2023 The Chancellor has suggested the pension system needs reform to ensure people receive higher returns. Jeremy Hunt said he is concerned that pensioners are not getting “the returns that they could expect”, according to the Daily Telegraph. The Chancellor was speaking in Washington where he is attending the spring meeting of the International Monetary Fund [...]
“A dramatic tragedy”: Swiss parliament split on UBS takeover of Credit Suisse April 11, 2023 Swiss authorities defended the state-brokered merger of the country’s two largest banks, UBS and Credit Suisse, in an emergency parliamentary session called to scrutinise the decision. The Swiss President, Alain Berset, argued “the Federal Council was obliged to intervene to maintain stability both in Switzerland and internationally and to protect the economy.” “A failure of [...]
Crypto market stays flat as Binance faces legal trouble and Citi predicts tokenisation boom April 3, 2023 CryptoCompare's Francisco Memoria looks over the past seven days in the crypto calendar to decipher what narratives have moved the market.
The new audit regulator’s boss should be based in London, not Birmingham April 3, 2023 Will the arrival of just shy of 200 regulatory staff in Birmingham, relocated from London, make a tremendous difference to the West Midlands economy? Probably not. Will putting half the staff of the new audit regulator in Birmingham risk making the body less effective? That ones easier: yes. The plan for the CEO of the new [...]
New audit watchdog: FRC set to confirm CEO will move from London to Birmingham March 31, 2023 The CEO of the newly former audit watchdog will be based in Birmingham - a more than hour long train journey away from the country’s auditors, City A.M. understands.
Ed Warner: Is China about to bring Russia and its athletes in from the sporting cold? March 30, 2023 The war in Ukraine doesn’t look like ending any time soon. Just as Russia is recalibrating its geopolitical and industrial relations, so the prospect of a conflict stretching years into the future will necessitate a realignment of its place in the sporting world. Asia’s warmth towards the Kremlin points a way back into the international [...]
Exclusive: Home REIT’s biggest tenant dished out £1.2m to bosses before bankruptcy March 27, 2023 The three bosses of Home REIT’s now-bankrupt biggest tenant pocketed over £1.2m last year even as the firm struggled to pay rent and slumped to a multi-million-pound loss, City A.M. can reveal. Gurpaal Judge, the chief of Wolverhampton-based social housing provider Lotus Housing, hiked his own and two directors’ pay to £1.2m in 2022 – [...]
UK hosts crunch talks on Putin ‘war crimes’ investigation March 20, 2023 International justice ministers are meeting in London to discuss support for the investigation into war crimes in Ukraine. The International Criminal Court (ICC) has issued a warrant for Russian leader Vladimir Putin’s arrest, accusing him of bearing personal responsibility for the abduction of children. It is the first arrest warrant to be issued against a [...]