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 [...]
Gym firm backed by Rishi Sunak’s wife to call in administrators February 10, 2022 Administrators are to be called in for the gym chain backed by Rishi Sunak’s wife. Digme Fitness was hammered by Covid measures, which saw gym goers turn away from the business’s London sites. Digme Fitness, which was founded by a former City lawyer, has eight gyms, including those dotted around the Square Mile, including near [...]
Explainer-in-brief: Peloton to ride high again February 10, 2022 They were the darling of the pandemic, and then they flopped. The American exercise bike company Peloton was a 15-minute story of fame for the ages. Its fortunes soared as the likes of Rishi Sunak and Miley Cyrus bragged about their secret spinning habit, but after gyms reopened, they floundered. Even more so after they [...]
Consumer price cap: Is the safety net fit for purpose? February 9, 2022 Ofgem remain committed to the price cap, but how much of a role has it played in the ensuing energy crisis?
Britain must finally decide on the fate of the Northern Ireland Brexit border February 9, 2022 Pity Liz Truss. Sharp-suited Chancellor Rishi Sunak fired the starting gun on the Tory leadership race last week with his put down of party-king Boris Johnson. He’s immediately seen as the favourite. Liz? Well, fresh from a bout of Covid, the Foreign Secretary has the small matter of trying to catch the Chancellor while sorting [...]
Starmer attacks PM and ‘loan shark chancellor’ over Covid fraud February 9, 2022 Sir Keir Starmer has hit out at the government over the billions of pounds lost to Covid fraud, accusing Boris Johnson and Rishi Sunak of “turning a blind eye to scammers”. The Labour leader also labelled Sunak today as the “loan shark chancellor” over his recently unveiled package of measures aimed to reduce household energy [...]
UK’s post-Covid small business support programme sees slow take-up February 9, 2022 Rishi Sunak’s post-Covid scheme to boost productivity among small British businesses has seen it reach just a tenth of its target in its first six months. The Help to Grow scheme, launched in August last year, is intended to support 30,000 small and medium sized enterprises (SMEs) by offering business training in areas like marketing [...]
City access to the Chancellor: 80 per cent of Rishi Sunak’s meetings are with banks and financial services firms February 8, 2022 As the government is looking to ease rules and regulations for the City of London, it has been revealed that Chancellor Rishi Sunak met with dozens of financial firms, banks, consultancy firms, hedge funds and lobby groups in recent months. According to new analysis, published by the Independent, around 80 per cent of all businesses [...]
BP brushes off calls for windfall tax amid deepening energy crisis February 8, 2022 BP chief executive Bernard Looney has rejected growing calls from the Labour Party for a windfall tax on North Sea fossil fuel operators.
Explainer-in-brief: Gloria Gaynor and the other new aides of No10 February 8, 2022 After a slew of aides at No10 quit last week amongst the turmoil of the Sue Gray report, Downing Street has spun the resignations as Boris Johnson “taking charge” of staffing problems. Steve Barclay will take the vacant role of chief of staff. He’s an old ally of Rishi Sunak and looks ready to steady [...]