Serious Fraud Office ends Lloyds Libor probes because of “insufficient evidence” July 4, 2018 The Serious Fraud Office (SFO) has dropped a criminal investigation into Libor manipulation at Lloyds Banking Group, removing a cloud over the lender. The SFO dropped the case because it lacked evidence, despite the Financial Conduct Authority’s previous assertion that 16 individuals at Lloyds knew about the Libor fixing. Some lines of inquiry in the [...]
RBS (Royal Bank of Scotland)’s share price jumps as it agrees to pay $4.9bn to the US Department of Justice to settle mortgage mis-selling case May 10, 2018 Royal Bank of Scotland (RBS) announced today that it has finally agreed to settle a mortgage mis-selling scandal by paying the US Department of Justice (DoJ) $4.9bn (£3.6bn). The agreement of the civil, rather than criminal, penalty will finally allow RBS to move forward and potentially resume paying a dividend for the first time since [...]
Finalist November 9, 2022 Start-up of the Year supported by World Mobile Swash Swash is reinventing data ownership through new incentivisation streams and a collaborativedevelopment framework, governed by the ethos of Web 3. It enables individuals, developers, and businesses to cultivate new realities of data ownership and value creation. It is the largest data unionin the market with over [...]
London mayor Sadiq Khan welcomes progress made on devolution to London in the Budget March 8, 2017 Chancellor Philip Hammond delivered a historic devolution agreement for Londoners today to "protect jobs and investment in the aftermath of Brexit". The devolution agreement focussed on infrastructure projects to help London mayor Sadiq Khan upgrade the capital's road, rail and Underground networks and boost its economy. It also confirmed the devolution of new powers to allow the mayor [...]
Q&A: MPs on verge of backing “historic” crackdown on offshore corporate secrecy April 30, 2018 Parliament will tomorrow debate a dramatic amendment to a bill which could force Britain’s overseas territories to open up businesses to an unprecedented level of public scrutiny. Proponents of the bill believe the UK is on the cusp of an historic step in the battle against global corruption – but authorities in jurisdictions like the [...]
Tom Hayes has launched the next stage of his Libor appeal to the CCRC January 30, 2017 Tom Hayes, the first person in the UK to be found guilty of playing a role in the Libor-rigging scandal, has submitted an appeal to the Criminal Cases Review (CCRC). Karen Todner, the former UBS and Citigroup trader's solicitor, said Hayes has been the subject of a "gross miscarriage of justice" and she's confident the CCRC will [...]
No need for disclosure of Bank of England emergency funding to Lloyds investors in HBOS deal, Sir Victor Blank tells court November 30, 2017 Investors in Lloyds bank at the time of its merger with HBOS did not need to be told about emergency funding provided by the Bank of England (BoE), former Lloyds chairman Sir Victor Blank today told the High Court. Blank was giving evidence at a £550m legal case brought by shareholders who allege they were [...]
Theresa May’s “shared society” slogan: Another excuse for more state, less Brexit January 10, 2017 I read Theresa May’s article about the “shared society” – assuming it was she who wrote it, and not her shadowy acolytes – with interest. It is always good to know what underlies our politicians’ thinking. But it is a disappointing read, a virtue-signalling undergraduate essay. It begins with the assertion, shared with most commentators, [...]
G4S wins another government tagging contract for the Ministry of Justice (MoJ) despite £109m fraud scandal and ongoing probe July 9, 2017 G4S, the security services company which appears unable to do any wrong, has won a new tagging contract despite a fraud scandal which saw it repay almost £109m to the government. Read more: G4S agrees to tagging payout as profits slide The Ministry of Justice confirmed that G4S has again been selected to supply tagging [...]
Sadiq Khan has demanded a raft of New York-style tax powers following his trip to North America September 20, 2016 Returning from a five day trip to the US, London mayor Sadiq Khan has demanded the devolution of fresh tax powers to City Hall. Khan has visited Chicago, Montreal and New York over the last few days, meeting with the mayors of all three cities to discuss extremism, housing and social integration. And he has [...]