What the other papers say this morning – 20 January 2014 January 20, 2014 FINANCIAL TIMES David Cameron faces EU isolation David Cameron risks “damaging Europe” with his anti-immigration stance, according to some of Britain’s allies, leaving the prime minister looking isolated in his attempts to restrict free movement in the EU. Ministers and officials from several EU powers told the Financial Times they would resist Mr Cameron’s attempts [...]
Serco awarded extension to run Boris Bikes January 9, 2014 SERCO, the beleaguered outsourcing firm under investigation by the Serious Fraud Office (SFO), yesterday said it has won a £38m two-year contract extension with Transport for London (TfL) to manage and operate the Barclays Cycle Hire Scheme. The original contract to design, build and operate the service – commonly known as Boris Bikes, named after [...]
G4S in second Serious Fraud Office probe December 19, 2013 CONTRACTOR G4S will be referred to the Serious Fraud Office (SFO) for a second time after a Ministry of Justice (MoJ) audit found problems with two further contracts for facilities management in British courts. The issues surround the invoicing, delivery and performance of these contracts and G4S has been asked to implement a corporate renewal [...]
Serco to repay government £68.5m for tagging scandal December 19, 2013 Serco has agreed to repay the government £68.5m for overcharging for its tagging of criminals, Justice secretary Chris Grayling has confirmed. Both Serco and rival G4S have been found to have overcharged on contracts dating back to 2005, in a review prompted by allegations surrounding the two firms. The Serious Fraud Office (SFO) opened a [...]
Libor trio plead not guilty to trying to manipulate the rate December 17, 2013 THE FIRST three men to face trial in connection with a global investigation into Libor-rigging pleaded not guilty at Southwark Crown Court yesterday. Tom Hayes, a former UBS and Citigroup trader, has been charged with eight counts of conspiring with staff from at least 10 major banks and brokerages to manipulate the London Interbank Offered [...]
Capita wins tag contracts from G4S and Serco December 12, 2013 OUTSOURCING firm Capita has been chosen to take over the prisoner tagging contracts currently held by G4S and Serco, the Ministry of Justice (MoJ) said yesterday. G4S and Serco are under investigation by the Serious Fraud Office (SFO) in relation to the contracts, on allegations that they charged for tagging criminals who were either dead, [...]
Red faces at the fraud squad as anti-corruption case collapses December 10, 2013 THE SERIOUS Fraud Office (SFO) suffered a major embarrassment yesterday when it was forced to drop an anti-corruption case after one witness changed his evidence and two others refused to attend trial in the UK. The SFO had earlier gone to court against Victor Dahdaleh, an international businessman and donor to the Labour Party, accusing [...]
RBS boss says bank did not profit from troubled firms November 27, 2013 THE CHIEF executive of RBS jumped to his bank’s defence yesterday, saying he did not believe that it had made a “systematic” effort to profit from its troubled business customers. Responding to two reports that have criticised lending practices at the under-fire bank, Ross McEwan said the accusations had damaged RBS’ reputation. “The most serious [...]
RBS could face criminal probe in wake of SME allegations November 27, 2013 Embattled RBS could face a criminal investigation, as news comes that the Serious Fraud Office (SFO) may be planning one, following government adviser Lawrence Tomlinson's claim that the bank forced small and medium-sized businesses into difficulties in order to make a profit from stripped assets. According to five unnamed sources cited by the FT, the [...]
What the other papers say this morning – 27 November 2013 November 26, 2013 FINANCIAL TIMES RBS faces possible criminal probe The Serious Fraud Office is considering a criminal investigation into allegations Royal Bank of Scotland defrauded companies by forcing them out of business, amid growing pressure on the bank over its treatment of SMEs. The SFO has conducted interviews with former executives of UK firms affected by RBS’s [...]