EU migration to the UK falls to lowest since 2013 | City A.M. July 16, 2018 Net EU migration into the UK fell to its lowest point since 2013 at the end of last year, continuing the marked decline in the numbers of EU immigrants which started at the time of the Brexit vote. Some 240,000 EU citizens came to the UK in 2017, according to the Office for National Statistics [...]
Mmusi Maimane means business: Why South Africa’s Democratic Alliance opposition leader wants to cut the Rainbow Nation’s red tape | City A.M. July 16, 2018 In his first state of the nation address in February, South Africa’s President Cyril Ramaphosa was adamant when he pledged that “a new dawn” was upon the country. There was reason to be hopeful; the former deputy president in the African National Congress (ANC)-led government had run on an anti-corruption platform and smoothly taken the [...]
The UK tops the charts for venture capital funding in Europe after a bumper second quarter July 12, 2018 The UK has regained its title as the top spot in Europe for venture capital investment in the second quarter of 2018. A total of £1.55bn of venture capital money was invested into UK businesses in the second quarter, spanning across 244 deals with artificial intelligence, fintech, cybersecurity and biotech as the most popular sectors [...]
Brexit: UK’s services sector pleads for mutual recognition deal in letter to Prime Minister July 3, 2018 Some of the biggest firms in the UK's services sector have written to the Prime Minister, urging her to secure a future trade deal that puts mutual recognition at its heart. The letter, coordinated by the Professional and Business Services Council and signed by the likes of KPMG and Deloitte, Allen & Overy and Clifford [...]
Hbos Reading: Treasury Select Committee joins calls for further transparency over ‘shocking’ fraud case June 27, 2018 A second group of MPs have weighed into the Hbos Reading fraud case, following last week's explosive report, demanding "maximum transparency" over what took place. The Treasury Committee chair Nicky Morgan has written to Dame Linda Dobbs, who is currently carrying out an independent review of the case, saying the Committee expects to receive the [...]
KPMG says audits for scandal-hit Malaysian 1MDB fund not ‘true and fair’ assessment June 26, 2018 Big four accountant KPMG has told under-fire Malaysian state fund 1MDB that its audits for three years do not provide an accurate picture and should not be relied upon. The fund is at the centre of a massive political and financial scandal and currently faces money laundering investigations in six countries including the US. It [...]
House of Fraser CVA approved June 22, 2018 House of Fraser's creditors are have agreed to a rescue plan which will result in 31 store closures. Creditors including landlords and suppliers met to vote on the company voluntary arrangement (CVA) today, and have passed the proposal with no amendments. “The approval of the CVAs is a seminal moment in House of Fraser’s history," [...]
House of Fraser CVA approved June 22, 2018 House of Fraser’s creditors are have agreed to a rescue plan which will result in 31 store closures. Creditors including landlords and suppliers met to vote on the company voluntary arrangement (CVA) today, and have passed the proposal with no amendments. “The approval of the CVAs is a seminal moment in House of Fraser’s history,” [...]
House of Fraser CVA approved June 22, 2018 House of Fraser's creditors are have agreed to a rescue plan which will result in 31 store closures. Creditors including landlords and suppliers met to vote on the company voluntary arrangement (CVA) today, and have passed the proposal with no amendments. “The approval of the CVAs is a seminal moment in House of Fraser’s history," [...]
Draft Project Lord Turnbull Report: MPs call on Serious Fraud Office and National Crime Agency to investigate Lloyd’s-Hbos fraud further June 22, 2018 MPs are calling for an investigation into potential criminality regarding the handling by Lloyds Banking Group of a fraud at its Hbos Reading unit more than a decade ago and into the role of auditor KPMG. The All Party Parliamentary Group on Fair Business Banking, which is chaired by Kevin Hollinrake MP, has urged the [...]