Landlords approve Clarks CVA clearing path for £100m private equity deal November 20, 2020 Clarks creditors have approved the footwear retailer’s restructuring plan, clearing the path for a £100m private equity deal that will take the 195-year-old firm out of family ownership for the first time. Clarks announced this afternoon that its Company Voluntary Arrangement proposal, which was launched earlier this month, has been approved by more than 90 [...]
UK directors to face fines in major overhaul of audit rules February 5, 2021 UK directors will reportedly face fines for accounting failures at their companies as part of a major overhaul of the audit sector. Long-awaited reforms, set to be published as early as next week, will place a tough new burden on bosses in an effort to improve audit standards. Directors, rather than boards, will be held [...]
In the wake of Greensill: alternative finance has been tainted by the scandal and needs to claw back legitimacy July 22, 2021 The dust may be slowly settling on the Greensill scandal itself, but its ramifications are rumbling on for the alternative finance sector. Post launch, Greensill was feted in the community, receiving large investments as it grew and racking up numerous plaudits for transforming how business financing can evolve to better suit the payments exchange between [...]
Telegraph profit jumps as pandemic boosts subscriber numbers April 27, 2021 The Telegraph has booked a sharp rise in profit for the year as continued growth in subscriber numbers helped to offset a wider downturn in newspaper revenue during the pandemic. Telegraph Media Group (TMG), which publishes the Daily Telegraph, Sunday Telegraph and Telegraph website, posted operating profit of £28.3m in 2020 — up 76 per [...]
Founders Spotlight: a conversation with Amy Kalnoki of Bitwave July 15, 2024 I had the opportunity to interview Amy Kalnoki, the Co-Founder and COO of Bitwave, the number one digital asset finance platform for enterprises.
Consumer confidence edges up after hitting record low July 27, 2020 Consumers in the UK are emerging from the last three months in a slightly more positive mood, a closely-watched industry gauge showed today, with plans to start spending again. Consumer confidence at the end of the second quarter climbed just one percentage point to minus 17 per cent, up from a record low in the [...]
Lookers shares boom as stock finally readmitted to trading January 29, 2021 Shares in long-troubled car dealership Lookers rose 90 per cent today as the firm’s stock was finally readmitted to trading. The FCA suspended shares in the auto firm back in July after failing to publish its full year results for 2019. The discovery of a £19m hole in its figures threw the firm into disarray [...]
Business chiefs urge Boris Johnson to speed up return to office review March 5, 2021 The bosses of some of London’s top businesses have urged Boris Johnson to accelerate a review that will determine when people can return to the office. The government is set to carry out a review of Covid safety measures such as one-metre social distancing and mask-wearing that will pave the way for a return to [...]
UK consultants paid £100m to advise government on coronavirus August 31, 2020 Some of the UK’s largest consulting firms have reportedly been paid more than £100m to advise the government on its response to coronavirus. Delayed disclosures reveal a total of 106 contracts worth £109m have been agreed between various government departments and consulting firms such as PwC, Deloitte and McKinsey since the pandemic took hold in [...]
Deloitte fined in connection with 1MDB corruption scandal January 30, 2019 Big Four accountancy firm Deloitte has today been hit with a 2.2m Ringitt (£409,559) fine by Malaysian regulators for failures in its audit of a firm linked to the scandal-hit 1MDB fund. The Securities Commission Malaysia issued a reprimand and fine for four breaches connected to the 2.4bn Ringitt Sukuk Murabahah Programme, an Islamic bond issued [...]