Gary Lineker still BBC’s top paid star despite pay cuts July 6, 2021 Gary Lineker is still the BBC’s highest-paid star despite taking a pay cut last year as the corporation looks to slim down its hefty wage bill. The former England footballer and Match of the Day presenter earned £1.36m, the BBC’s latest annual report showed, down from £1.75m the previous year. It comes after Lineker, who [...]
Covid-19, one year later: Capital markets entering uncharted waters July 6, 2021 CFA Institute conducted a survey of its global membership to analyse the effects of the current economic crisis caused by the Covid-19 epidemic on financial markets and the investment industry. The survey was run worldwide from 8 to 28 March 2021. Now we are releasing the survey report: COVID-19, ONE YEAR LATER. This research constitutes the second iteration [...]
Travel Perk snaps up business travel firm Click Travel July 6, 2021 Business travel firm Travel Perk has this morning snapped up Click Travel, which handles £300m worth of travel for around 2,000 clients. It is the third and largest acquisition that Travel Perk has made since the Baupost Group-backed firm was founded in 2015. It said that the deal would establish the firm as the leading [...]
ICAS urges the UK Government to improve tax administration in ten key areas July 6, 2021 ICAS has published a new report, Tomorrow’s Tax Administration, setting out its top ten priorities for UK Government action to improve tax administration. Why does tax administration matter? Good tax administration is essential, even though it may not feature at the top of many political wish lists. It has a role to play in fulfilling [...]
US tech giants could face $28bn bill from global tax reforms July 5, 2021 US tech giants such as Google and Facebook could face a $28bn (£20bn) bill as part of radical plans to overhaul global corporation tax, new research has revealed. The Organisation for Economic Cooperation and Development (OECD) last week agreed on a new tax model to ensure companies pay tax in countries where they earn revenue, [...]
FTSE 100 lifts as supermarkets drive rally July 5, 2021 London’s FTSE 100 rose on Monday afternoon, driven by a rally in supermarket shares. The capital’s premier index added 0.56 per cent to reach 7,163 in the afternoon session, paring back this morning’s losses. The gains were partly caused by shares in supermarkets rising in afternoon trading after Apollo Global Management announced it was considering [...]
EY creates independent audit board ahead of operational separation July 5, 2021 EY has appointed two independent non-executive directors to its newly created UK Audit Board, ahead of plans to operationally separate its UK audit practice from its consultancy business. Last summer the accounting watchdog asked the Big Four firms to separate their audit units from the rest of their business by 2024. Auditors have come under increased regulatory [...]
Bank of England to cut staff air travel amid green push July 5, 2021 The Bank of England is considering permanently cutting staff air travel as part of efforts to ramp up its climate change targets and “practise what we preach”. Sarah Breeden, the Bank’s executive director for financial stability and risk and lead on climate change issues, said the Bank was having an “active debate” over how to [...]
Greensill Capital: The financial scandal that just won’t go away July 5, 2021 On Friday, it was announced that Credit Suisse will pay out a further $750m to backers of its Greensill-linked supply chain finance funds. Thus far, the lender has clawed back $6.1bn of the $10bn of its funding supported by collapsed supply chain finance firm Greensill Capital, up $200m on its previous update. The news follows, [...]
New car registrations up as lockdown end nears July 5, 2021 The total number of cars registered grew in June from the same period last year, however new registrations still lag pre-pandemic figures, which raises questions about further growth in the industry. A total 186,128 new cars were registered in June, according the Society of Motor Manufacturers and Traders (SMMT), up 28 per cent on the [...]