PwC fined £15m by FCA after London Capital & Finance fraud failure August 16, 2024 PwC has been fined £15m by the Financial Conduct Authority after it failed to alert the regulator that London Capital & Finance (LCF) might be involved in fraudulent activity. In the first ever fine issued by the FCA to an audit firm, the watchdog said that PwC had encountered “significant issues” throughout their 2016 audit [...]
UK retail sales tick up in July after summer discounts and Euros boost August 16, 2024 Friday's data is among a raft of economic figures released this week that will provide key indicators for Bank of England policymakers as they decide whether to cut interest rates in September.
Litigation funding brought the Post Office to justice – now it’s time to take it to water companies August 16, 2024 Without litigation funding, the Post Office may have never seen justice. Now it’s time to use it against polluting water companies, writes environment consultant Carolyn Roberts Ofwat recently announced hefty fines for three water companies dumping sewage in our waterways. Alongside regulatory pressure, collective opt-out legal action like the one I’m leading can play a [...]
Tata Steel: Ministers pledge £13.5m to protect jobs as ‘all options on the table’ August 15, 2024 The government has pledged £13.5m to help workers amid Tata Steel job losses, as a minister vowed “all options are on the table”. Funding will go to supporting supply chain businesses and workers affected by job losses in connection with the Indian-owned manufacturer changing its production systems. Tata is switching to a greener form of [...]
The Capitalist: Why has Baillie Gifford’s support for Edinburgh Fringe not bothered Nish Kumar? August 15, 2024 Edinburgh Fringe's Baillie Gifford backing goes unnoticed, the OWO battles PR woes and HSBC turns queasy: catch up on the latest City gossip in this week's edition of The Capitalist.
Met Police ‘inadequate’ at managing risk of sex offenders August 15, 2024 The Met Police is not managing the risks posed by registered sex offenders and online child abusers “effectively”, a report from the police inspectorate has found. It also found the force’s crime investigations also suffer from “inconsistent decision-making” and arguments, with inexperienced officers trying to manage more than 25 crimes at once. His Majesty’s Inspectorate [...]
City of London Festival set to return this autumn with stellar line-up August 15, 2024 The City of London Festival is set to return this autumn for the first time since 2015, bringing some of the world’s hottest classical, jazz and choral musicians to the Square Mile. The festival celebrates the unique architecture and environment of London’s most historic district through a series of innovative musical events. The newly rebranded [...]
Croydon is a brutalist playground and a photographer’s dream August 15, 2024 I stand killing time on the platform of one of Croydon’s many decrepit railway stations. Like me, it’s seen better days, and again like me, its makeover has been on the cards for years. I do a lot of waiting and thinking here, mostly enforced. Norwood Junction: even the name sounds like a line from [...]
UK economy grows 0.6 per cent in second quarter, in line with expectations August 15, 2024 The UK economy grew in line with expectations in the second quarter of 2024, as it continued to bounce back from a shallow recession.
Citi removes EU-imposed bonus cap for top London bankers August 14, 2024 Citigroup has become the latest Wall Street bank to scrap an EU-imposed bonus cap, paving the way for it to award bigger payouts to some of its top London staff.