Out-of-court settlement in Malaysia: KPMG coughs up $80m to end global 1MDB scandal January 13, 2022 KPMG has paid $80m to the Malaysian government, in the form of an out-of-court settlement, after Malaysia sued the Big Four firm over the 1MDB scandal, which saw billions stolen from Malaysia’s state-backed 1MDB investment fund. The 1Malaysia Development Berhad (1MDB) scandal saw at least $4.5 bn channelled out of Malaysia’s 1MDB investment fund, by [...]
Omi-gone: Brits flock back to pubs, bars and restaurants as social spending climbs January 13, 2022 The damaging drag the re-imposition of Covid-19 curbs had on Brits’ confidence is easing, reveal official figures released today. Britons rushed back to pubs, bars and restaurants in the immediate aftermath of Christmas and New Years in a sign that plan B’s blow to the UK services economy will disappear into the ether. Consumers have [...]
Starling Bank tops customer experience ranking as demand for digital banking booms January 13, 2022 Starling Bank has topped a list of the UK’s best customer experience companies.
Demand for staff swelling: Frantic recruitment efforts as vacancies climb but job candidates dry up January 13, 2022 Demand for staff is growing across the country amid a continued fall in the number of candidates for jobs, new research suggests. Recruiters warned this morning they are placing record numbers of permanent and temporary workers into jobs as demand for staff continues to grow across the country. Meanwhile, the number of available job candidates [...]
Asos shares jump after posting ex-Paddy Power boss to board January 13, 2022 Asos has posted the former boss of Paddy Power to its board today, in a move which helped pushed the retailer’s share price up over 10 per cent. The online retailer also announced this morning that it would be shifting to London’s main market, after two decades on the junior AIM index. Patrick Kennedy, who [...]
In an age of Netflix, Britain’s public broadcasters must step up to the challenge January 13, 2022 The BBC has become a lightning rod for debate over the role of public service broadcasting and its role in our society. As the broadcaster prepares for its mid-term charter review and Channel 4 faces down the challenge of privatisation, we must re-evaluate how we look at the notion of maximum possible benefit to the [...]
Lord Michael Hastings on improving corporate citizenship January 13, 2022 This article first appeared in ICAS’ CA magazine. Lord Michael Hastings tells Laurence Eastham how far business has come in recognising its responsibilities to society – but why the journey has really only just begun Business has incorporated a new language. It’s one that gives values and purpose equal rank alongside revenue and profit. And it’s a shift that reflects [...]
Employers still bumping pay despite labour squeeze cooling January 13, 2022 Employers in London and across the UK are still having to offer attractive pay packets to lure workers despite the labour squeeze easing, reveal fresh figures released today. The rate of decrease in the pool of available candidates slowed at the tail end of last year, boosting labour supply, according to research carried out by [...]
IFS: Poorest Brits to shoulder worst cost of living shock January 12, 2022 The poorest households in the UK are set to shoulder a harder hit from the cost of living crisis, reveals new analysis released yesterday. The rising cost of energy will erode a greater proportion of poorer households’ income compared to wealthier Brits, according to the Institute for Fiscal Studies (IFS). Less wealthy Brits tend to [...]
Carillion hearing: KPMG partner says he was let down by junior colleagues January 12, 2022 A former KPMG partner, who signed off an audit giving debt-laden Carillion a clean bill of health, blamed junior staff at an FRC hearing.