Brexit trade talks: Michel Barnier cites ‘serious differences’ between EU and UK stances March 5, 2020 The EU’s chief negotiator has warned of “very serious divergence” between Britain and Brussels over the future relationship, following the first round of post-Brexit trade talks. Michel Barnier said he was confident a deal could be struck between the two sides, saying “an agreement is possible, even if it is difficult”. But he warned there [...]
EY strengthens tax controversy and risk management team with five key appointments March 3, 2020 EY has announced the arrival of five key appointments to its tax controversy and risk management team, expanding its tax litigation and corporate crime service offerings to clients. The new arrivals are all practicing solicitors. James Wilson, EY Partner and head of the Tax Controversy and Risk Management team comments: “We’re delighted to welcome these [...]
How to resolve contract disputes during the Covid-19 pandemic March 26, 2020 The impact of Covid-19 on businesses is unprecedented and profound. Government restrictions and guidelines, the impact on supply chains and the unavailability of staff are all affecting businesses’ ability to comply with contractual obligations. Stewarts has received many requests for advice from companies whose manufacturing plants are being shut down, or whose supply chains are [...]
Global airlines get nearly £100bn in state aid and bailout funding October 13, 2020 Easyjet last week became the latest airline to indicate that it may need more money from the state to deal with the financial hammering it has taken at the hands of coronavirus. Around the world, governments have already splashed out a whopping £98.7bn on airlines, a figure that could jump by another $25bn (£19.3bn) if [...]
Vodafone will spend €200m to rip Huawei from core networks February 5, 2020 Vodafone said the government’s decision to leave Huawei out of the core of the UK’s 5G network would cost the operator €200m (£169m) as it revealed third quarter results today. The mobile operator welcomed Boris Johnson’s “facts-based” decision to keep Huawei at arm’s length and vowed to remove it from its own core. Chief executive [...]
KPMG hit with £2.1m fine for misconduct on Ted Baker audit August 20, 2018 KPMG has been fined £2.1m by the accountancy watchdog over its audit of fashion retailer Ted Baker. The Financial Reporting Council (FRC) has fined and “severely reprimanded” the accountancy giant following its admission of misconduct in relation to the audits between January 2013 and January 2014. Senior statutory auditor Michael Barradell has also been fined [...]
The future of post-covid drinking, from the mega beer garden to drone deliveries August 1, 2020 With the baking summer heat threatening to melt my laptop, the idea of al fresco eating and drinking seems like a no-brainer. But Britain, with its unpredictable climate, traffic-clogged streets and plethora of excellent, dingy pubs, has proven resistant to the kind of outdoor cafe culture beloved of our European neighbours. Until covid, that is. [...]
Flybe infected by aviation sector’s malaise March 6, 2020 As ministerial tweets go, the mid-January proclamation by the business and transport secretaries that Flybe’s future had been salvaged will surely endure as among the most ill-judged of Boris Johnson’s government. Barely 54 days later, Flybe has become just another corporate carcass, joining Monarch and Thomas Cook among the airlines which failed to cope with [...]
Property of the Week: A Wapping warehouse where WWI soldiers’ toothpaste was made January 24, 2020 Located halfway between Bank and Canary Wharf, Wapping’s waterside is a favourite location for the swanky riverside apartments of young financial services types. But dial back the clock a hundred years and it was a far grittier affair, the landscape dominated by bustling docks and factory chimneys. This penthouse that has just come on the [...]
ING profit tumbles as bad loans and regulatory costs weigh February 6, 2020 ING has reported a significant decline in net profit following a “challenging” end to the year for the Netherlands’ largest bank. The lender reported a 29 per cent drop in year-on-year net profit, which fell to €1.2bn (£1bn) amid a sharp increase in bad loans during the fourth quarter, due in part to a fraud [...]