Ukip leader Nigel Farage confirms former deputy leader Suzanne Evans suspended from the party March 23, 2016 Ukip leader Nigel Farage has sacked former Ukip deputy leader Suzanne Evans – again. Farage told the BBC today that Evans been suspended from the eurosceptic party for six months. "Sometimes people fall out with their own party and sometimes say and do things that perhaps they shouldn't," Farage said. In a statement on her Facebook page this afternoon, [...]
Flash crash trader: Judge rules Navinder Singh Sarao can be extradited to the US to face trial March 23, 2016 A judge has ruled that Navinder Singh Sarao, the so-called hound of Hounslow, can be extradited to the US to face charges carrying a maximum sentence of 380 years. Sarao plans to appeal the verdict and has been released on bail. The US Secretary of State must now make an order for the extradition to the Home Office within the next [...]
EasyJet owner Sir Stelios Haji-Ioannou threatens Fastjet with legal action over licence breaches March 22, 2016 Sir Stelios Haji-Ioannou, owner of the Easy group of brands – which includes Easyjet, has contacted the board of African budget airline Fastjet over a number of licence breaches. EasyGroup is the brand owner and licensor of Fastjet. In a letter to Fastjet chair Colin Child, Haji-Ioannou outlined a number of concerns, including the fact that since the [...]
Lloyds bondholders head to the courts over bank’s attempts to buy back bonds at face value March 21, 2016 Lloyds bondholders head to the Supreme Court today, as they attempt to stop the bank from compulsorily purchasing bonds back at face value. The bondholders, who won the right to have their appeal one day before the repurchase was due to take place in February, argue that the bank should pay a premium for the bonds [...]
Turkey’s Putin mini-me has revealed the truth about the EU: It’s dead March 21, 2016 The geopolitical sharks are moving in for the kill. It is now apparent to all but the most gormless that the European Union – never having economically bounced back from the euro crisis, or mastered its refugee crisis – is dead in the water. The logical follow-on from such a realisation is for the world’s [...]
Sandwich chain Eat foots £3.6m VAT bill after toasties get grilled in pasty tax battle March 20, 2016 High street sandwich chain Eat found itself picking up a rather expensive VAT bill last year after toasties lost out in the long-running pasty tax row. In 2014, franchisees of rival chain Subway lost a Court of Appeal battle with the Treasury to force it to drop the 20 per cent VAT rate on toasted [...]
Navinder Singh Sarao, who has been accused of contributing to the Flash Crash, to discover whether he has been successful in avoiding extradition to the US on Wednesday March 20, 2016 Navinder Singh Sarao, the British trader accused of contributing to 2010's flash crash, will find out on Wednesday whether or not he has won his battle to avoid being extradited to the US. Sarao appeared in Westminster Magistrates' Court last month for the extradition hearing, where lawyers representing the US government argued that he was allegedly heavily engaged in [...]
How the courts are punishing corporate offenders for fraud, bribery and corruption offences March 20, 2016 We have seen a spike in legal activity relating to bribery and corruption offences in recent months, with a bank, printing business and a large international property company all being subjected to fines and other penalties thanks to allegations of this kind. One long-standing problem with assessing such cases has been in identifying the role [...]
The UK legal sector is vital to the City’s international success March 17, 2016 The City of London’s position as a world leader in finance and business is widely acknowledged. I know this only too well from my own work, both as an international commercial barrister and as the current chairman of the Bar of England and Wales. But the City is being challenged by other financial centres in [...]
Libor scandal: Serious Fraud Office (SFO) tells Tom Hayes to hand it all over as prosecution demands convicted former UBS and Citigroup trader’s assets, including wedding rings and Surrey house March 15, 2016 Fraud squad prosecutors issued Tom Hayes with a stark ultimatum on Tuesday – that he must hand over nearly everything he owns or face more time in jail. At a hearing in the Old Bailey, the prosecution alleged that Hayes, a former UBS and Citigroup trader, was only paid as handsomely as he was because he secured [...]