News
Deloitte facing court after former client reports it to FRC
Deloitte has been dragged into a long-running scandal after being reported to the Financial Reporting Council (FRC) by former client Elfed Thomas, co-founder of now-defunct telecoms company H20 Networks for failing to spot a £160m fraud at a collapsed telecoms firm.
Published 16 August 2019
Downgraded forecasts slash RBS share price as bailed-out bank again named UK's worst
It has been a depressing 24 hours for still 60 per cent state-owned Royal Bank of Scotland after it was again dead last in an official study ranking UK high street banks for customer service, and two key brokers lowered their forecasts for the lender’s prospects, sending its share price tumbling.
Published 16 August 2019
Scottish Government takes shipyard into public control
The Scottish Government has reached an agreement with Deloitte, administrators of the Ferguson Marine shipyard in Port Glasgow, to take the facility into public control.
Published 16 August 2019
Upper Tribunal finds former Barclays Wealth COO failed to act with integrity
Following contested proceedings, the Upper Tribunal has found that Andrew Tinney, the former Chief Operating Officer (COO) of Barclays Wealth and Investment Management (Barclays Wealth), breached his obligation as an approved person to act with integrity.
Published 16 August 2019
Construction firms warned of impending VAT rule changes, says Johnston Carmichael
Construction contractors who don’t prepare for major VAT changes could face a host of financial difficulties from cashflow problems to reduced profit.
Published 16 August 2019
Standard Life Aberdeen outlines share buyback plan
Standard Life Aberdeen has confirmed via a stock exchange announcement the timings and other details for its share buyback plan.
Published 16 August 2019
Scramble for mortgage deals before Brexit as remortgages spike
Homeowners seized on ultra-low interest rates to remortgage in June, but would-be buyers are holding back as political turmoil continues to cause uncertainty, latest data has shown.
Published 16 August 2019
Fraud reports projected to hit record high
Reports of investment fraud filed by savers in the UK have almost doubled in the first six months of 2019 to more than 8,000, official figures have revealed, putting them on course to all-time high by the end of the year.
Published 16 August 2019
And finally... Square Mile launches contactless donation points for homeless
The City of London is launching an alternative giving campaign to help the City’s homeless and rough sleeper population, by donating money through four new contactless card points.
Published 16 August 2019
Edinburgh fintech to expand workforce with RBS bail-out cash
Edinburgh-based fintech firm Modulr has revealed that it is set to create dozens of new jobs in the city, having secured £10 million from the Royal Bank of Scotland Alternative Remedies Package.
Published 15 August 2019
Peer-to-peer lender bolsters team in Scotland
Peer-to-peer lender Assetz Capital has promoted Fraser Clark to relationship director and hired Colin Mottram as senior relationship manager in Scotland.
Published 15 August 2019
Canada Life acquires Dundee Council HQ in leaseback arrangement
Canadian insurance giant Canada Life has acquired Dundee City Council’s headquarters in a £23.8 million “leaseback” deal.
Published 15 August 2019
RSM named Scotland’s most active M&A advisers
Audit, tax and consulting firm RSM has been named the most active M&A financial advisers in Scotland in the first half of 2019 – moving from fourth to first place in the last quarter.
Published 15 August 2019
Aegon outflows hit £2.6m
Aegon UK, which employs 2,2400 staff at its Edinburgh Park headquarters, including 286 in the Kames Capital-branded asset management arm, has posted half year results for the period ending June 30, 2019, revealing net outflows have hit £2.6bn suggesting advisers have been leaving the firm's platform following the issues.
Published 15 August 2019
PA who embezzled thousands of pounds from Harry Potter author made bankrupt
A former personal assistant to JK Rowling, who was found guilty of embezzling almost £19,000 from the Harry Potter author and order to pay it back, has now declared herself bankrupt.
Published 15 August 2019
