D-Day for London Irish as club could miss financial deadline TODAY May 30, 2023 London Irish could today become the third Premiership rugby club within 12 months to cease being able to call themselves one of England’s top flight sides. Amid financial concerns surrounding the club – who share their home with Premier League outfit Brentford – the Rugby Football Union gave the club until today to either prove the [...]
Begbies Traynor: Jump in businesses going bust lifts firm’s profit guidance May 22, 2023 Begbies Traynor expects its annual sales and profits to trade ahead of market expectations thanks to a surge in the number of businesses going insolvent.
Insolvencies drop 15 per cent – but experts warn ‘we’re not out of the woods yet’ May 16, 2023 Corporate insolvencies dropped off in April as business confidence seemed to improve but experts warned that the drop may not signal better times ahead. According to new figures from the Insolvency Service, 1,685 companies went insolvent in April 2023, a 15 per cent fall on the same month the previous year. This was also down [...]
London Irish could lose spot in Premiership if funds cannot be proved May 15, 2023 London Irish could be kicked out of the Premiership if they cannot prove their potential new owners have the funds to keep the rugby club going. The Rugby Football Union has issued a statement confirming that the club have until 30 May to prove that a proposed takeover – led by Redstrike Group and former [...]
Fraud warning as insolvency surge sees more directors investigated for corporate misconduct May 15, 2023 The Insolvency Service last year launched 36 per cent more investigations into the alleged misconduct of directors of insolvent companies than the year before, data from international law firm RPC shows. According to RPC, the number of investigations increased from an average of 142 per month between April 2021 and March 2022 to 193 between [...]
Banking crisis: Ex-BoE’s Paul Tucker calls for regulatory overhaul to battle bank runs May 8, 2023 Banks should be required to keep enough collateral with the central bank to cover all of their short-term deposits, an ex-Bank of England wonk has said. Speaking to the Financial Times, former Bank of England Deputy Governor Paul Tucker said “it would mean that, subject to a bank being fundamentally insolvent, central banks could 100 [...]
Mark Kleinman: Vodafone’s CEO call, audit watchdog delays and a wave of insolvencies May 4, 2023 It's the column that gets the Square Mile talking, from the man who talks to everybody - Sky News' Mark Kleinman
Bailey’s plan to raise deposit guarantees mean we’re gambling on banking risks April 26, 2023 Modern banking has been subject to massive interference from governments. This needs to stop: risks should be returned to those who choose to take them, that's how the market works, writes Jamie Whyte
Worcester Warriors set to lose P Share amid sale to Atlas Consortium April 25, 2023 Troubled former Premiership rugby club Worcester Warriors are set to lose their “P Share” imminently, even if their sale is finalised next week, say administrators. The side’s future has been in doubt since entering administration in September, and preferred bidder the Atlas consortium has been told it must complete a buyout by 2 May. In [...]
P&O bosses confident of avoiding ‘fire and rehire’ fine and thought public anger would ‘recover’ April 25, 2023 Controversial cruise operator P&O is confident it will not pay for the ‘fire and rehire’ scandal last year, according to company filings shared with City A.M. The accounts, which cover the 2021 calendar year, predict that the UK’s Insolvency Service will not be able to demonstrate that any subsequent action taken was in the public [...]