‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Calls to overhaul ‘antiquated’ trial rules grow as SFO forced to drop G4S case March 14, 2023 The UK’s Serious Fraud Office (SFO) on Friday said it would be dropping its case against three former G4S executives over claims they defrauded the UK government of tens of millions of pounds. The collapse of the SFO’s case came after G4S itself took responsibility for the fraud that saw it mislead Britain’s Ministry of Justice [...]
Charges dropped against three former G4S executives accused of defrauding taxpayers March 10, 2023 Charges have been dropped against three former executives of G4S’s electronic tagging arm who were accused of defrauding the Ministry of Justice following a 10-year investigation. G4S Care and Justice Services had provided electronic monitoring services to the government from 2005 to 2013. The subsidiary of security giant G4S was accused of misleading the MoJ [...]
SFO under fire for ‘huge mistakes’ and wasting millions of taxpayers’ cash in 10-year probe of G4S March 10, 2023 The Serious Fraud Office (SFO) has come under fire for wasting millions of pounds of taxpayers’ money and making “huge mistakes” in its 10-year investigation into G4S’s electronic tagging arm as charges against three former executives were dropped. In September 2020, former managing director Richard Morris, former commercial director Mark Preston and former finance manager [...]
Serco’s revenues surge as UK ‘immigration contracts’ offset a tumble in Covid testing work February 28, 2023 British contractor Serco said its revenues continued to grow in 2022 as surging UK government demand for its ‘immigration services’ offset a drop in Covid-related work. Serco said its overall revenues increased by £109m to £4.53bn in 2022, despite a £480m drop in income from work surrounding Covid-19. Higher revenues from Serco’s businesses running [...]
Serco wins £570m contract to run US public health insurance schemes February 23, 2023 British outsourcing giant Serco has won a $690m (£573m) contract from the US government to administer the country’s public health insurance schemes. Serco will run back-office delivery of America’s public health insurance initiatives in determining whether US citizens are eligible to buy coverage through the government-backed schemes. Serco’s renewed contract, which it first won [...]
Culture war concerns are creating new divisions for Conservatives to traverse February 20, 2023 Rishi Sunak has dug a line in the sand on culture war issues, but it's already created new ideological division which could split the Conservative Party, writes Eliot Wilson
Churchill’s grandson and Serco chief named new chair of Smith & Nephew February 17, 2023 The grandson of Sir Winston Churchill and chief executive of Serco has been unveiled as the new chair of 167-year-old medical tech firm Smith & Nephew. Rupert Soames will assume the position at the London-listed company following the retirement of Roberto Quarta, the firm announced. He will take the reins in late September, after joining [...]
Serco chief Rupert Soames to retire: ‘It is now time for me to outsource myself’ September 12, 2022 Chief of British outsourcing giant Serco Group Rupert Soames said he would “outsource myself” as he announces his retirement. Soames, 63, will step down from the role and board by the end of this year and will be succeeded by Mark Irwin, the chief of the firm’s UK & Europe division. “It has been the [...]
Serious Fraud Office to call for overhaul of disclosure regime following trial issues September 4, 2022 THE UK’s Serious Fraud Office (SFO) is pushing for the UK’s current disclosure framework to be reformed and brought into the 21st century, City A.M. has learned. The head of the fraud agency, Lisa Osofsky, is expected to use a speech in Cambridge tomorrow to call for an overhaul of the current disclosure regime, which [...]
Serco snaps up immigration services firm ORS for £39m September 1, 2022 Government outsourcing giant Serco has snapped up Swiss specialist immigration firm ORS in a £39m deal, the firm announced this morning.