Sam Bankman-Fried: Founder of Crypto platform FTX on trial accused of ‘massive fraud’ October 5, 2023 A US prosecutor has told jurors that FTX founder Sam Bankman-Fried was on top of the world a year ago before his historic fraud was exposed, leaving customers and investors without at least 10 billion dollars (£8.23bn) they thought was secure. Assistant US attorney Nathan Rehn repeatedly pointed at Bankman-Fried, sitting with his lawyers in [...]
Carillion: Former boss banned from UK boards for eight years October 5, 2023 The former boss of failed outsourcer Carillion has been banned by the Insolvency Service from leading a business for the next eight years. Richard Howson will not be able to be a director of a UK company after the authority said he ought to have known that the way some contracts were reported “concealed the [...]
Sunak faces backlash from Johnson and Cameron over HS2 axing – as he’s reported to the police in Scotland October 5, 2023 Rishi Sunak has faced criticism from his predecessors in Number 10 for losing a “once-in-a-generation opportunity” by cancelling the northern leg of HS2. The Prime Minister defied senior Tories and business leaders to scrap HS2 from Birmingham to Manchester saying “the facts have changed” and the cost of the high-speed rail scheme had “more than [...]
Six high-street banks including Santander, Barclays, HSBC, NatWest and Lloyds given ‘red’ warning over eco policies October 5, 2023 Six of the UK’s biggest high-street banks have been placed in a “red” warning category by consumer champion Which? over their fossil fuel investments and commitments to tackling climate change. JP Morgan Chase, Santander, Barclays, HSBC, NatWest Group and Lloyds Banking Group were exposed for having too weak green credentials. Just three of the UK’s [...]
Just Stop Oil protesters disrupt West End performance of Les Miserables October 5, 2023 Just Stop Oil protesters disrupted a performance of Les Miserables at the Sondheim Theatre in London’s West End on Wednesday night. The protesters entered the stage during a performance of Do You Hear The People Sing? Just Stop Oil said that four protesters then locked themselves to the stage using flexible bicycle locks at around [...]
FCA exec: We’ve got to talk about London’s appetite for risk October 5, 2023 A senior figure at the City watchdog has said the UK needs a debate over its “appetite to risk” if London’s stock exchanges are to bounce back from a miserable twelve months. The capital has seen a dearth of IPOs over recent months, with plans in place to reform listing regimes and the research environment [...]
John Lewis needs a retail chief to take charge and steer it back on track October 5, 2023 Sharon White's successor at John Lewis faces a difficult decision, writes George MacDonald, and must choose whether to follow her strategy or forge their own to bring the British retailer success again
Metro Bank drafts in investment bankers to explore capital raise October 4, 2023 Metro Bank has reportedly drafted in a top team of investment bankers to explore ways to boost its capital position.
Sunak strips HS2 bosses of London Euston responsibility: ‘There must be accountability for mistakes made’ October 4, 2023 HS2 Ltd has been stripped of responsibility for Euston station as there “must be some accountability for the mistakes made”, Prime Minister Rishi Sunak said. Rishi Sunak used his speech at the Conservative Party conference to confirm that the high-speed railway will reach the central London station after developing a plan that will generate cost [...]
BAT, Imperial Brands shares slide after Sunak reveals smoking crackdown October 4, 2023 The share prices of major tobacco companies slid today after Prime Minister Rishi Sunak announced new proposals to crack down on smoking.