South Africa's FirstRand plans to sell its British operations, including lender Aldermore and motor finance provider MotoNovo, after Britain's compensation scheme for missold car loans forced the bank to sharply increase its expected costs.
South Africa's FirstRand plans to sell its British operations, including lender Aldermore and motor finance provider MotoNovo, after Britain's compensation scheme for missold car loans forced the bank to sharply increase its expected costs.
BDO has rejected an £80 million ($107 million) claim for negligence from a collapsed construction company which alleged that it had bungled an audit, saying the business would still have failed even if £43 million in losses had been uncovered earlier.
A London court has ordered the winding up of a financial services company that went into administration after being sued for £1.7 million ($2.3. million) by investors in failed property redevelopment schemes, ruling that the reason for administration was "tenuous."
The U.K.'s Labour government is expanding investment tax relief to unlock £100 million ($134.4 million) worth of funding for startups and early-stage businesses looking to grow, according to HM Treasury.
A trade body for European fund managers called Wednesday on lawmakers to simplify tax rules for cross border investments through funds by making some further changes to an initiative that is underway to simplify tax rules.
Trustees of defined benefit pension plans should regularly assess the strength and reliability of their sponsoring employers as geopolitical instability, inflation and higher business costs combine to threaten company finances, a consultancy warned on Wednesday.
The consumer investment group Better Finance on Wednesday urged the European Union to simplify its sustainable finance rules so that investors can more easily weigh whether products deliver tangible environmental and social benefits.
HM Revenue and Customs has assumed new powers to tackle tax fraud and evasion as key parts of new legislation take effect, including tougher rules on construction industry schemes and penalties for promoters of tax avoidance arrangements. Correction: A previous version of this article misstated which HMRC reforms took effect on April 6. The error has been corrected.
Aviva PLC said Wednesday it has completed a pension insurance deal worth £100 million ($134 million) with the Iveco Ltd. Pension Scheme, securing the retirement benefits of more than 1,350 U.K. members of the commercial vehicle maker's plan.
