Deliveroo pays workers to settle gig economy employment case June 28, 2018 Takeaway delivery firm Deliveroo has settled a legal claim by 50 of its couriers for a reported six-figure sum, in another legal battle involving employment rights in the gig economy. The claim revolved around the alleged failure of Deliveroo to give its couriers legal employment rights, such as the minimum wage and paid holiday. Multiple [...]
Paddy Power Betfair confirms it is in talks to buy FanDuel after US ruling lifting ban on sports betting May 16, 2018 Paddy Power Betfair this morning confirmed it was in talks with FanDuel over a potential merger “to target the prospective US sports betting market”. The betting giant said it was responding to media speculation after reports the bookmaker was in talks to acquire the fantasy sports site. “Discussions are ongoing and there is no certainty [...]
Lehman Brothers creditors should share extra £5bn in interest payments, Supreme Court rules May 17, 2017 The UK’s highest court today ruled that claimants against the main European arm of Lehman Brothers should receive at least £5bn in interest payments. All original claims, totalling around £36bn, have been paid out by Lehman Brothers administrator PwC. The Supreme Court today said that the creditors, largely made up of hedge funds, should receive [...]
Stocks care about policy, not personalities August 6, 2018 Chaos in the Trump White House! First, Gary Cohn resigned as Director of the National Economic Council. A couple days later, President Trump fired Foreign Minister Rex Tillerson. Then we saw Scott Pruitt also step down. Some claimed these losses would cause markets to lose confidence in the administration. Hogwash! These are examples of some [...]
Government loses Supreme Court Article 50 case January 25, 2017 The Supreme Court has dismissed the government's appeal in its long-awaited judgment in the Article 50 case later this morning. The court voted by a majority of eight to three to dismiss the case, meaning MPs must be given a vote before the Brexit process can begin. However, it also said it had unanimously decided [...]
Supreme Court president Lord Neuberger says judges will keep listening to European Court of Justice decisions post-Brexit March 29, 2017 The president of the Supreme Court today said he and his peers will likely carry on listening to the European Court of Justice’s decisions following Brexit. Lord Neuberger told the House of Lords Constitution Committee: “It would be quite inappropriate for us to be bound in any way by decisions of the Court of Justice [...]
Attorney general “disappointed” with the Supreme Court’s Article 50 verdict January 24, 2017 The attorney general has confirmed the government will bring forward a bill to trigger Article 50 following today's Supreme Court ruling. The UK's highest court ruled today that MPs must be given a vote on the launch of Brexit talks. However, it also said the government did not have to gain the approval of the [...]
FCA’s guidelines are undervaluing consumers’ PPI claims by billions of pounds, barristers allege | City A.M. April 27, 2018 Barristers from St John’s Buildings are claiming that consumers could be underpaid by billions of pounds if banks follow the financial regulator’s guidance on Payment Protection Insurance (PPI) payouts. The Financial Conduct Authority (FCA) is ignoring legal cases which mean consumers may be owed around £14bn more than under its own guidelines, the barristers have [...]
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 [...]