Scandal-hit Toshiba chairman ousted by shareholders in rare investor victory June 25, 2021 Investors at scandal-ridden Toshiba today voted out its chairman, Osamu Nagayama, after the company was found to have colluded with the government to suppress the interests of foreign investors. The move marks a milestone for corporate governance in Japan after Toshiba shareholders successfully secured a probe into the allegations of pressure on overseas investors. One [...]
Biden turns on the investment taps with $1.2 trillion bill agreement June 25, 2021 The US Senate has finally agreed on a $1.2 trillion infrastructure bill, which was watered down some $1.1 trillion from Biden’s original pitch. The deal, worth an eyewatering £860bn, accompanies an eight-year plan to fund roads, bridges, the power grid, public transport and the internet. However, left-wing Democrats have called the deal ‘paltry’ after Biden [...]
Investors should have a duty to investigate links to modern slavery June 25, 2021 While slavery might sound like an egregious crime of the past it is still commonplace in modern society. It is a crime that exploits and dehumanises individuals and sees them as property to be bought, sold or traded. While it is prevalent, it is not public, and across the world acts of modern slavery take [...]
Systemiq CFO, Andrew Morrow CA, on why accountants play a crucial role in tackling the planet’s most urgent challenges June 25, 2021 From rainforest economies in Brazil to tackling plastic pollution in Indonesia, systems change company Systemiq confronts some of the planet’s most urgent challenges. CFO Andrew Morrow CA explains why accountants play a crucial role. This article first appeared in ICAS’ CA magazine. Back in 2018, systems change company Systemiq took representatives of two multinational food [...]
Bank expects inflation to breach target and shoot above three per cent June 24, 2021 Bank of England expects inflation to breach target and shoot above three per cent
Banking’s got talent? Digital disrupts the City’s skills requirements June 24, 2021 The world of financial services is changing fast, with the trend towards digital provision accelerated by the Covid-19 pandemic. From the growing use of mobile banking to the surging interest in fields such as artificial intelligence (AI), technology’s transformative impact has all sorts of consequences. One of those is on the evolving mix of skills [...]
Ground breaking scheme rating COVID-19 safety expanded to all City businesses June 24, 2021 A pioneering scheme assessing business’ COVID-19 safety measures has been expanded to cover all City companies. The accreditation scheme, which was set up in September last year as a pilot, was the first of its kind launched by a UK governing body. Following its initial success, it was relaunched in April, to promote public confidence in [...]
Impact investing is increasingly a buzzword in the City as millennial investors take over June 24, 2021 Impact investing, the strategy to make financial profits but create a long-standing, positive impact on our world, in the process, is becoming increasingly ‘a thing’ in the City and other financial hubs around the world. Many investors are hyper-aware of what is happening around them, with factors such as corporate social responsibility (CSR) making a [...]
Liverpool shareholders RedBird Capital set to buy stake in Indian Premier League franchise Rajasthan Royals June 24, 2021 RedBird Capital Partners, a shareholder in Liverpool owners Fenway Sports Group, is buying a stake in Indian Premier League (IPL) cricket franchise Rajasthan Royals, according to reports. New York-based RedBird is buying 15 per cent of the Royals in a deal that values the team at $250m, says the FT. The transaction continues the trends [...]
Banks need to stand up for human rights abuses in Hong Kong and hit China where it hurts – their wallet June 24, 2021 Since the introduction of the National Security Law last year, Hong Kong has seen a shift in its population. Specifically, that its citizens are leaving. Hong Kongers in their droves are taking stock of this new draconian normal and choosing to say no to further human rights abuses. More than 34,000 have fled to the [...]