3rd October 2017
The UK’s National Audit Office (NAO) has launched an investigation into the funding of Learndirect, the country’s largest adult training provider, following complaints about its performance and handling by the Department of Education. The probe will include a March 2017 inspection by education watchdog the Office for Standards in Education,… Read More
2nd October 2017
The US central bank on Friday fined HSBC $175 million for its ‘unsafe and unsound’ practices in its foreign exchange (FX) trading business. The fine was issued “for deficiencies in HSBC’s oversight of, and internal controls over, FX traders” who deal US dollars and foreign currencies for the firm’s own… Read More
2nd October 2017
By Sankalp Phartiyal, REUTERS India’s ambitions to become a smartphone-making powerhouse are foundering over a lack of skilled labour and part suppliers along with a complex tax regime, industry executives say. Prime Minister Narendra Modi has championed a manufacturing drive, under the slogan ‘Make in India’, to boost the sluggish… Read More
2nd October 2017
Uber top UK boss Jo Bertram is leaving the firm for an undisclosed venture amidst the embattled company’s legal woes with British authorities. The ride-hailing app was stripped of its licence last month surrounding its approach to serious crimes and background checks on drivers. The employment status of its drivers… Read More
2nd October 2017
DEUTSCHE WELLE – Ex-German chancellor Gerhard Schröder has been voted head of the board of Rosneft, as the oil giant seeks to boost its business in Germany. Other Russian firms are also investing in the country, despite the sanctions. After working for Russia’s Gazprom for many years, ex-chancellor Gerhard… Read More
29th September 2017
Reuters – Three former Tesco executives abused their positions of trust to encourage the manipulation of profit figures, lied to auditors and misled the stock market, prosecutors told a London court on Friday. The senior executives were “cooking the books” to secure huge compensation packages, and bullying subordinates into compliance,… Read More
29th September 2017
The Securities and Exchange Commission is to grant regulatory relief to publicly traded and investment companies, accountants and others affected by the recent Hurricanes Harvey, Irma and Maria, it said. The agency has issued an order which conditionally exempts affected persons from certain requirements of the federal securities laws… Read More
29th September 2017
In line with efforts to step up compliance and boost opportunities for its fintech industry, Hong Kong has entered into its third cooperation agreement with British regulator the Financial Conduct Authority (FCA). The latest agreement is between the FCA and the Hong Kong Insurance Authority, and will see the two… Read More
29th September 2017
China has ordered North Korean-owned companies to close, as it implements UN sanctions imposed over the reclusive state’s nuclear programme. The businesses in its territory will have to close within 120 days of the passing of the UN Security Council’s 11 September resolution of the sanctions. The move will… Read More
28th September 2017
Most jihadist terrorist attacks carried out in Europe since 2015 have been funded using “legitimate” sources such as savings accounts and loans, according to a leading academic in the field. Professor Peter Neumann, director of the International Centre for the Study of Radicalisation, told the Financial Times’ Combating Illicit Trade… Read More