Government halves insolvency payouts to workers in 2021 February 21, 2022 The government halved pay outs to workers whose employers went bust last year, as Covid-19 support measures helped stave off insolvencies.
City Moves: Who’s switching jobs in the Square Mile this week? February 17, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Fulcrum Asset Management Fulcrum Asset Management has poached its latest responsible investment associate from EY. Samriddhi Sharma departs the Big Four firm after holding the role of senior consultant in the sustainable finance team. Reporting to partner and chair Matt Roberts, Sharma will support [...]
Ofgem challenged by administrators over suppliers’ billions February 16, 2022 Ofgem is under pressure from a trio of administrators that are challenging its status as a creditor in multiple energy firms.
UK travel bankruptcies on the rise as Omicron and staycations scupper sector’s recovery February 14, 2022 The UK’s travel sector is still suffering from the impacts of Covid, according to new figures from accountancy company Mazars, which show that travel sector insolvencies are on the rise. In January, 15 travel companies went into insolvency, up from nine in December, Mazars’ figures show. The recent rise in the number of insolvencies comes [...]
HMRC hits under pressure Liberty Steel boss with winding up petition February 10, 2022 Her Majesty's Revenue and Customs is attempting to force a division of Sanjeev Gupta's steel empire into insolvency.
UK watchdog probes audit of Sanjeev Gupta’s Liberty Commodities, in wake of Greensill scandal February 10, 2022 The UK’s audit watchdog has launched an investigation into HW Fisher’s audit of Sanjeev Gupta’s metals trading company Liberty Commodities, after eight companies linked to the steel magnate borrowed up to £400m from collapsed firm Greensill Capital. The Financial Reporting Council (FRC) said it has launched a probe into London accountant HW Fisher’s audit of [...]
Scandal ridden Credit Suisse sees £1.6bn loss in latest quarter February 10, 2022 Credit Suisse's latest financial results were dragged by legal woes and a slowdown at the bank's investment and wealth management arms.
Treasury’s £4.3bn fraud write-off likely to be eclipsed by £20bn Covid loan defaults as CBILs and BBLs are not repaid February 8, 2022 The £4.3bn of Covid loans that may have to be written-off by The Treasury due to fraud and highlighted by the recent resignation of Lord Agnew, could be eclipsed by businesses failing to repay their CBILs and BBLs Covid support loans, an industry expert warns. £73.8bn has been loaned under the above schemes to around [...]
Regional publisher Newsquest in exclusive takeover talks with rival Archant February 7, 2022 The publisher of newspapers The Herald and Northern Echo has entered exclusive takeover talks with its rival Archant as it looks to begin a consolidation of the UK’s regional news market.
Exclusive: Building suppliers issued the most petitions during the pandemic February 2, 2022 Building suppliers dished out the most winding-up petitions to companies owing them cash during Covid, exclusive data has revealed. Audit, tax and advisory firm Mazars said building suppliers made up 28 per cent of all winding-up petitions filed since February 2020. During the pandemic, troubled construction firms often failed to pay owed cash to merchants. [...]