Wimbledon star Boris Becker jailed for two-and-a-half years for hiding £2.5m in assets and loans April 29, 2022 Tennis legend and three-time Wimbledon champion Boris Becker has been jailed for two-and-a-half years for hiding £2.5 million worth of assets and loans to avoid paying his debts. The former world number one, 54, was declared bankrupt on June 21 2017, owing creditors almost £50m, over an unpaid loan of more than £3m on his [...]
UK fraud investigators serve notice on companies linked to mining magnate Sanjeev Gupta April 27, 2022 UK fraud investigators yesterday served notices at multiple addresses linked to mining magnate Sanjeev Gupta, just a day after French police raided Paris offices linked to the embattled steel tycoon. The UK’s Serious Fraud Office (SFO) yesterday issued Section 2 notices to trading addresses linked to the Gupta’s Liberty House Group of companies, requesting financial [...]
Exclusive: More than two firms remain interested in Bulb Energy’s customers April 25, 2022 At least one other energy firm is still open to taking on customers from Bulb Energy, but has ruled out a full takeover bid of the collapsed supplier.
FCA uses emergency powers to stop British Steel Pension scandal advisers selling assets April 25, 2022 The UK’s financial watchdog is using emergency powers to stop the firms who advised British Steel Pension Scheme (BSPS) victims from selling off assets to avoid paying compensation. The Financial Conduct Authority (FCA) has launched the emergency asset restriction rules without consultation, in a bid to stop firms from wiggling out of victims’ hard-won redress. [...]
MPs say UK’s Covid restrictions on air travel were ‘disproportionate’ April 25, 2022 The UK government’s restrictions on air travel during Covid-19 were “disproportionate to the risks to public health” and led to a severe shock to the aviation sector, according to a Westminster committee. A new report from MPs on the Transport Committee also said the restrictions regime for international travel was “not transparent or consistent, nor [...]
Insolvencies more than double as rampant inflation and rising interest rates hit firms April 22, 2022 Company insolvencies more than doubled last month as soaring inflation and rising borrowing costs pushed firms over the edge.
New law to protect family savings set to be unveiled this week April 18, 2022 New laws to protect shoppers’ money in savings clubs are to be announced by the government this week. Savings clubs allow shoppers to pay for goods and services in instalments throughout the year, instead of in one go. These savings are currently not protected as they would be in a bank account by the Financial Services Compensation Scheme. However, [...]
The City View: Victoria Scholar on rising prices, unemployment and retail sales data; and XR cause Lloyd’s of London HQ shutdown April 12, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through some of the week’s economics data on GDP, unemployment, retail sales, and talk trading updates. They discuss the latest from ASOS, Deliveroo, and EasyJet: ASOS is facing a raft of headwinds, as investors lose confidence in the online retailer; [...]
Cost of living grip tightens as wages trail rampant inflation April 12, 2022 The cost of living crunch is tightening its grip on Britons’ living standards in a further sign that the UK economy is hurtling towards a period of slow growth. Fresh figures published by the Office for National Statistics (ONS) today reveal pay is lagging far behind inflation, meaning households are unable to buy the same [...]
Waitrose left with £4m hole in pocket after brief deal with online partner April 12, 2022 Supermarket Waitrose is owed some £4m after a four-month partnership with an insolvent venture launched by an Ocado founder. According to a report in The Times newspaper, Waitrose is the second-largest trade creditor of online grocery business Today Development Partners, which collapsed last month. This was laid out in a progress report by administrators at [...]