Mark Kleinman: Vodafone’s CEO call, audit watchdog delays and a wave of insolvencies May 4, 2023 It's the column that gets the Square Mile talking, from the man who talks to everybody - Sky News' Mark Kleinman
Sir Win Bischoff ‘was a giant of our industry’ JP Morgan chief Jamie Dimon says after City grandee dies aged 81 April 26, 2023 Heartfelt tributes have been paid to City grandee Sir Win Bischoff who has died at the age of 81 following a short illness. The German-born banking boss who had top roles at Schroders, chair of Lloyds Banking Group and Citigroup, as well as JP Morgan, enjoyed a 50-year career in both the City and Wall [...]
British American Tobacco to pay over £512m in North Korea sanctions case April 25, 2023 British American Tobacco has agreed to pay more than $635m (£512m) to US authorities after a subsidiary pleaded guilty to charges that it conspired to violate US sanctions by selling tobacco products to North Korea and commit bank fraud, a US court filing and the company said on Tuesday. The tobacco sales at the heart [...]
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.