Jenny Watson: New chair of UK accounting regulatory board wants to be a driver of change October 11, 2021 Jenny Watson CBE, newly appointed as the chair to the regulatory board of the UK body of chartered accountants, the Institute of Chartered Accountants in England and Wales (ICAEW), is a woman on a mission: the former chair of the Electoral Commission wants to be a driver of change. “We already know that there is much [...]
KKR founders Henry Kravis and George Roberts step down from the throne October 11, 2021 Private equity grandees Henry Kravis and George Roberts, who founded KKR in 1976, are stepping down as co-chief executives of their eponymous buyout firm. Succeeding them, Joe Bae and Scott Nuttall, who have both served as co-presidents for four years, have taken the helm. Both Kravis and Roberts will remain actively involved in the private [...]
What is Decentralised Finance (DeFi)? October 11, 2021 The blockchain-based form of finance everyone’s talking about “Decentralised Finance (DeFi) is a movement that aims to bypass traditional financial intermediaries by putting financial services on the blockchain.” DeFi supporters believe that smart contracts will form the nuts and bolts of future financial infrastructure, on the premise that banks, brokers and other financial institutions will [...]
Two years on the EU and the UK need to find a way to work together on finance October 11, 2021 It has been almost two years since the UK left the European Union. In that time, political relations across the Channel have been turbulent, to put it mildly. As with any divorce, we have all been taking time to adjust to the new relationship. Over this period it has also become clearer than ever that [...]
Letters: No sympathy for Boris or business October 11, 2021 [Re: Business leaders bash Boris, 7th October] I write further to your newspaper’s article regarding the criticism of the Prime Minister’s alleged “economic illiteracy” by various business people, including the Federation of Small Businesses. I suspect that Boris Johnson’s critics will attract little sympathy from the general public This is especially true given that [...]
Queen’s Platinum Jubilee pageant will be bigger and bolder than Victoria’s in 1897 October 9, 2021 About 6,500 performers will turn the Queen’s Platinum Jubilee pageant into the “largest ever put on”, an organiser has revealed. V&A chairman Nicholas Coleridge, who is co-chairing the pageant, said the event on the final day of jubilee celebrations will top those held in 1897 for Queen Victoria. He added that the BBC predicts the [...]
Breakthrough week for historic corporate tax deal: 140 nations including Ireland are on board October 9, 2021 The international community is moving towards sweeping changes to how big multinational companies are taxed to prevent them from stashing profits in offshore havens where they pay little or no tax after 140 countries have agreed to sign the deal. Under the agreement, countries would enact a global minimum corporate tax of 15 per cent [...]
Nick Clegg says Facebook is ‘pleased’ with historic tax deal, even if it means paying more October 9, 2021 Nick Clegg, Facebook’s vice president for global affairs, said today the social media giant welcomes the corporate tax agreement that 140 countries around the world agreed this week. “We are pleased to see an emerging international consensus,” Clegg said in a statement sent to City A.M. this afternoon. Under the agreement, countries would enact a [...]
BREAKING: Total power outage in Lebanon with entire country down, may last for several days – CityAM : CityAM October 9, 2021 The electricity grid in Lebanon has reportedly cut off electricity in the entire country as the two main power stations ran out of fuel. The blackout in the country of almost six million is expected to last for several days, a government source told various regional media. The al Zahrani and the Deir Ammar power [...]
‘FCA claimed a big scalp’: NatWest’s £320m money laundering fine sends message to the entire City October 8, 2021 NatWest is this morning staring at the prospect of a fine of up to £320m following the bank’s admission of guilt yesterday in relation to three charges of money laundering. The banking giant admitted it had failed to properly monitor £365m when it was deposited into a customer’s account. The case is widely seen as [...]