Government’s proposal for independent insolvencies regulator draws criticism from sector December 21, 2021 Insolvency and restructuring trade body R3 have warned of a major conflict of interest issue brought by the government’s proposals to shake up the insolvencies industry with a new independent regulator. The government want to introduce a single regulator, which would sit within government agency Insolvency Service, to oversee the UK insolvency sector. The reforms [...]
As Omicron cases surge, question of ‘when, rather than if’ Covid new restrictions are coming December 21, 2021 As Covid infections surge across London and the rest of the UK, healthcare leaders have said it is now a question of “when, rather than if” new restrictions will be enforced. NHS Confederation chief executive Matthew Taylor has suggested the introduction of stricter measures is inevitable amid the rapid spread of coronavirus fuelled by the [...]
UBS appeals against French court’s money laundering ruling December 20, 2021 UBS has filed an appeal against the decision by France’s Supreme Court last week to uphold the Swiss bank’s conviction for money laundering. It comes just a week after a Paris appeals court slashed the bank’s fine for allegedly helping wealthy customers in France evade taxes to £1.5bn – down from an original penalty of [...]
Elon Musk says he will pay $11bn in taxes this year December 20, 2021 Celebrity entrepreneur Elon Musk has said he will pay $11bn in taxes this year, an amount which could constitute the biggest contribution in history.
Global M&A activity hits new record of $5 trillion in 2021 December 20, 2021 Global merger and acquisition (M&A) activity records of all time have been smashed this year, after exceeding $5 trillion for the first time. Global M&A jumped 63 per cent to $5.63tn (£4.26tn) while in Europe activity was almost 50 per cent up, to $1.26tn (£954m), driven in part by a boost of confidence among chief [...]
Microchip maker Imagination on the verge of London listing after board reshuffle December 19, 2021 Chinese-owned Imagination Technologies gets one step closer to its London listing dream as a board reshuffle stifles concerns.
City of London calls on Rishi Sunak to support businesses in the Covid-emptied Square Mile December 17, 2021 The City of London’s local authority has called on Chancellor Rishi Sunak to provide “much needed” financial support for shops, restaurants and pubs in the Square Mile after the government reintroduced its ‘work from home’ advice. In a letter to the Chancellor, The City of London Corporation policy chair Catherine McGuiness warned that small businesses [...]
Is the party over for Tesla shares after their recent losses? December 17, 2021 While the Tesla share price remains in the stratosphere, there are several concerns looming on the horizon. The Tesla (NASDAQ: TSLA) share price has been volatile over the past few weeks. On 4 November, the electric vehicle (EV) stock hit a high of $1,230, before falling to $1,013 by 15 November. Then it rose to $1,157 a [...]
Staying safe during the Christmas period December 17, 2021 Despite the fact that this year will feel more normal than last, it’s important that we remember that Covid-19 hasn’t gone away; the emergence of a new variant of the virus, Omicron, has reminded us all of the risks. But with every passing day we know more about the virus – and the best way [...]
City Moves: Who’s switching jobs in the Square Mile today? December 17, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Carzam Online used car business Carzam’s has appointed Paddy Power’s former boss as a new executive chairman. Andy McCue, who spent a decade with the gaming and betting giant, was also CEO of The Restaurant Group during [...]