Insurers could speed up rewriting policies to reduce exposure to claims following crypto crash July 15, 2022 The drastic crash in the crypto market could lead to insurers speed up rewriting policies to reduce exposure to claims. Following the crypto rout, which has seen prices of major cryptocurrencies plummeting and wiped out billions of dollars from the market, insurers will likely review or amend policy wordings to avoid indirectly insuring losses from [...]
Lloyd’s of London warns major cyber attack on payments could cost world $3.5 trillion October 18, 2023 A major cyber attack on a financial services payments system could cost trillions, Lloyd's has found, as demand for cyber insurance booms.
Taxman ramps up asset confiscation amid Covid-19 fraud boom April 18, 2022 HMRC has confiscated assets worth £39m in around a year – a more than 700 per cent increase from 2020. The confiscations, made via account forfeiture orders over the past 11 months, dwarf that of the £4.8m the taxman snagged a year prior, according to law firm RPC. It comes as HMRC ramps up its [...]
City watchdog vows to pursue retrial in collapsed insider trading case June 22, 2022 The UK’s financial watchdog has said it will seek a retrial against two men accused of insider trading, after a jury was unable to reach a verdict last month. The UK’s Financial Conduct Authority (FCA) said it will pursue a retrial against plastics company exec Stuart Bayes and his friend Jonathan Swann. The FCA accused [...]
Tsunami of takeovers in sports swells deal values by record 433 per cent with private equity leading the pack October 11, 2022 The value of M&A and major stake-building in the sports industry has increased 433 per cent in the last year, rising from £1.8bn last year to £9.6bn this year, according to fresh data shared with City A.M. this morning. As more private equity, sovereign wealth funds and other institutional investors pursue deals in the sports [...]
UK ransomware attacks double in past year March 28, 2022 New data has revealed that the number of ransomware attacks reported to the Information Commissioner’s Office has increased 100 per cent from 326 in 2020 to 654 in 2021.
Mini budget drama: UK banks face wave of ‘exotic’ forex derivatives claims after collapse of Pound December 15, 2022 Legal disputes between banks and their business customers are expected following the collapse in the value of sterling against the U.S. Dollar and the volatility of other currencies. The dramatic volatility of currencies over the last few months will have led to many businesses facing substantial losses from complex Forex derivatives contracts they had entered [...]
Court told that Matt Hancock’s tweet did not name Andrew Bridgen in ongoing libel battle March 1, 2024 Andrew Bridgen’s claim of libel from a tweet issued by Matt Hancock “fails to set out” any evidence that the tweet was about him, a court was told. The expelled former Tory MP Andrew Bridgen launched legal action against the ex-health minister and current independent MP, Matt Hancock last year. Bridgen had the whip removed [...]
Centrica vs HMRC: What does Supreme Court ruling on tax deduction mean for businesses? July 26, 2024 Just last week Centrica lost an appeal against HMRC over the treatment of professional services fees.
Sun, sea and Slack: As many Brits plan to work from abroad – what are the actual rules? July 13, 2024 Millions of British workers will be planning to 'work from the beach' this Summer. But what are the rules around working from outside of the UK