KPMG drops embattled property firm Adler as client following allegations of wrongdoing May 18, 2022 KPMG has dropped German property firm Adler as an audit client after refusing to sign off on its accounts last month. In a letter to investors, Adler chairman Stefan Kirsten said KPMG’s decision had come as a “great surprise” to the firm, as he said the firm is now searching for a new auditor. Kirsten [...]
Starmer calls windfall tax ‘inevitable’ as Tories show signs of wobbling over the levy May 18, 2022 Internal government polling has found support for a windfall tax on the profits of energy firms is “wildly” popular..
Experian posts ‘very good year’ with revenue and profits booming for credit reporting firm May 18, 2022 Credit reporting firm Experian reported a strong full year this morning with revenue up 17 per cent at $6.3bn.
The City View: Michael Hewson on problematic consumer spending growth May 17, 2022 Today Andy Silvester talks to Michael Hewson, Chief Market Analyst at CMC Markets. They unpick the latest wage and labour figures, analyse Bank of England governor Andrew Bailey’s comments at the Treasury select committee, go through inflation predictions for 2022, and discuss why current consumer spending growth in the US and UK will be problematic [...]
Sunak warns energy companies ‘no option is off the table’ amid calls for a windfall tax May 17, 2022 Domestic energy companies could still face a windfall tax this year, if they fail to invest in the UK's energy sector, warned Chancellor Rishi Sunak.
Anglo Asian Mining profits drop as it begins business revamp May 17, 2022 Profits at gold and copper producer Anglo Asian Mining have plummeted as the miner looks to expand its business across Azerbaijan.
New international development plan focuses on bilateral aid and challenging ‘dependency on malign actors’ May 16, 2022 Britain has launched a new international development programme with a focus on challenging “dependency on malign actors”. Liz Truss made the announcement with a written statement on Monday, saying the new vision would try to address “increasing global challenges”. The plan, launched as Britain continues to oppose Russia’s war in Ukraine, also looks to “provide [...]
Grand opening: Sadiq Khan cuts the ribbon of Northern line’s Bank branch May 16, 2022 London mayor Sadiq Khan has reopened the Northern line’s Bank following a 17-week closure. The line was closed between Moorgate and Kennington on 15 January to allow for upgrades including a new system of tunnels and a more spacious southbound platform at Bank station. “Today marks the first in a series of transport milestones for [...]
Ex-Dechert solicitor leaked ENRC’s confidential documents to media, London judge rules May 16, 2022 A London judge has said a senior partner at corporate law firm Dechert LLP breached his duties to Kazakhstani mining conglomerate ENRC by leaking information about the company to three British newspapers and the UK’s Serious Fraud Office (SFO). High Court judge Mr Justice Waksman said Neil Gerrard, the former head of white-collar crime at [...]
Closing down: McDonald’s starts removing golden arches across Russia as its 850 restaurants are up for sale May 16, 2022 McDonald’s has become the latest major western corporation to exit Russia since it invaded Ukraine in February, as the burger chain confirmed this morning it has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people. The fast food giant pointed to the humanitarian crisis caused by the war, [...]