Coutts CEO: When time is money, why we spent it on becoming a certified B Corporation bank September 21, 2021 Coutts recently became the largest UK private bank and wealth manager to become a B Corp. It has taken a lot of people and a lot of work over the last two years to get through the stringent scrutiny and analysis by B Lab UK required for certification. But time is often equated with money [...]
City minister pledges ‘competitive tax rates’ for UK financial services sector ahead of Budget September 20, 2021 John Glen has promised that the UK’s financial services sector will benefit from “competitive tax rates,” ahead of the next Budget on 27 October, according to reports. “To be competitive, we have to have competitive tax rates and that’s what’s on the chancellor’s mind at the moment,” the City minister told the Financial Times, which first reported the [...]
A net zero future depends on open trade of green goods and services September 20, 2021 In the future when historians look back at 2021 they could well see it as a turning point. A time when after witnessing unprecedented wildfires, flash flooding and extreme winds, the world finally took notice and came together to tackle climate change. Or they could see it as a time when the world squandered this [...]
Exclusive: UK ‘tax gap’ for large businesses climbs as HMRC is owed £6.1bn in underpaid tax September 17, 2021 The UK’s estimate for underpaid and evaded tax by large businesses has jumped 15 per cent, according to new research shared with City A.M. today. The ‘tax gap’ for large businesses reached £6.1bn in the past year, ending 31 March 2020, up from £5.3bn the previous year, according to Square Mile-based law firm Pinsent Masons. [...]
Big Tobacco’s takeover of Vectura shows the holes on our Companies Act September 17, 2021 There’s little dispute that companies ought to aim to return money to shareholders. Dividends sustain our pension pots and are vital to keep our economy growing. But when this pursuit becomes single minded it fails even by its own logic. PMI’s takeover of Vectura will generate the greatest shareholder value in the short term, but [...]
The CAs seeking justice in forensic accountancy September 17, 2021 As crime increasingly moves from street to balance sheet, more and more CAs are finding themselves playing a part in the fight against fraud. Karam Filfilan speaks to forensic accountants about the growth of the specialism. This article first appeared in ICAS’ CA magazine. When people hear the word “forensic”, their imaginations are transported to a [...]
Ex-Goldman Sachs Dogecoin millionaire joins UK healthcare company September 16, 2021 A Goldman Sachs manager who quit after making millions from the meme-based, crypto currency Dogecoin has reemerged as the Executive Chairman of a UK healthcare company. Aziz McMahon will join SpectrumX as Executive Chairman, focussing on investor relations, corporate governance, and the formulation of the company’s new ESG policy. McMahon was formerly the head of [...]
Cardano Alonzo upgrade sees 100 smart contracts in first 24 hours September 16, 2021 Cardano's Alonzo upgrade has seen more than 100 'smart contracts' processed within its first 24 hours.
Dowden defends Channel 4 privatisation push as ‘needed’ to fend off streaming giants September 15, 2021 UK culture secretary Oliver Dowden has restated his view that changing Channel 4’s ownership is the best path for the channel, in the latest sign that the government intends to push forward with plans to privatise the state-owned broadcaster. Speaking publicly for the first time since the government launched a consultation on the future of [...]
JP Morgan takes charge of Channel 4’s road to privatisation September 15, 2021 The government has appointed banking giant JP Morgan to provide advice on Channel 4’s future following a consultation into the possible privatisation of the public broadcaster. Culture Secretary Oliver Dowden is understood to have approved the American investment bank to provide corporate finance advice on the broadcaster’s remit, ownership and obligations. The appointment has not [...]