Do you know the many forms of money laundering? March 31, 2020 In financial circles there is much discussion around money laundering, but the forms which money laundering can take are very rarely explained. So, what is money laundering? It’s the process of making illegally gained money, often known as dirty money, appear to be legal. Money laundering usually involves three steps; surreptitiously getting the illegitimate money [...]
Stress awareness month: How can we reduce stress? March 31, 2020 When was the last time you felt stressed? Probably recently. According to a 2018 YouGov study, in the previous year, 74% of people felt so stressed they have been overwhelmed or unable to cope. The latest estimates from the Labour Force Survey show that the total number of cases of work-related stress, depression or anxiety [...]
Coronavirus: Ratings agencies see demand surge as firms try for BoE cash March 31, 2020 Ratings agencies have reported a surge in demand from UK companies as firms try to secure credit ratings that would let them access the Bank of England’s coronavirus bond-buying scheme. However, a significant number of firms expressing interest do not qualify for the money, agencies said. S&P Global Ratings said it has received around 30 [...]
Where do markets go from here? March 31, 2020 One thing’s for sure: as the Prime Minister has already said, the Covid-19 outbreak is going to get worse before it gets better. But with Asia showing that social distancing can work and with recent lockdown measures put in place in the UK, the question becomes: what next? Where’s the floor? For our part, we [...]
City Moves for 31 March – Who’s switching jobs at Quantuma, Medica and FRP? March 31, 2020 Today’s City Moves includes Quantuma, Medica and FRP Quantuma Business advisory firm Quantuma has announced the appointment of Philippa Robinson as a director in its corporate finance team. Philippa joins Quantuma after qualifying with KPMG to become a fellow of the Institute of Chartered Accountants in England and Wales. In her role at KPMG, she [...]
Coronavirus: UK business confidence falls to lowest level since October March 31, 2020 Overall UK business confidence fell to its lowest level since October amid the coronavirus crisis, reflecting a drop in both trading prospects and economic optimism. The Lloyds Bank Business Barometer shows a 17 percentage point drop to six per cent last month. Economic optimism dropped from 23 per cent, its highest level for 17 months, [...]
Co-ordinated stimulus package recognises the critical role of banking to support the economy March 30, 2020 A consistent message from financial regulators post 2008 was that the next financial crisis would look different. Few would have predicted a global health pandemic, coupled with an oil price war, would dramatically curtail economic activity. Yet while banking was not the cause of this crisis, regulators, politicians and the industry itself have quickly moved [...]
How small businesses can do big things for sustainability March 30, 2020 With the green agenda more important than ever, businesses are under pressure to ensure they are both environmentally and economically sustainable. The 26th UN Climate Change Conference (COP26) is on the horizon and attention is focused on how businesses will play their part to tackle climate change. Many big corporations have big budgets for green [...]
Tax reforms for digital and multinational companies of 137 countries March 30, 2020 At the Organisation for Economic Co-operation and Development’s (OECD) headquarters in Paris, negotiations are underway between 137 countries, on major reforms to the way digital companies and other multinational companies (MNCs) are taxed. The negotiations have two elements. The first, ‘Pillar One’, reallocates where some profits can be taxed, from ‘producer’ countries to ‘consumer’ countries. [...]
Tax needs to keep pace with global developments March 30, 2020 Designing a modern-day tax system takes co-ordination on a global scale, with many players all having a part. The business of tax faces challenges in the 21st century: its role as a force for good, and the way tax systems are designed and implemented Adapt to survive In a fast-changing world, tax systems have to [...]