Henry Staunton claims request was made so government could ‘limp into’ the next general election
A former Post Office chair said he was told by a senior civil servant to stall compensation payouts to post office operators so the government could “limp into” the general election.
Henry Staunton, who was sacked by the business secretary, Kemi Badenoch, last month amid anger over the Horizon scandal, said the request came soon after he took up the role in December 2022.
Continue reading...Price Promise tariff gives discount on current cap and guarantees to be at least £1 per fuel under April one
British Gas has launched a fixed-rate gas and electricity deal that offers a 12% saving over most existing price-capped tariffs, adding a new choice to the hard-to-navigate home energy market.
For the past two winters, consumers have largely been spared having to seek out the cheapest deal, because, in almost all cases, it was their supplier’s price cap-protected standard tariff.
Continue reading...The drop in civil inquiries by fraud unit sparks criticism that the authority’s use of its powers of enforcement are waning
The number of civil investigation cases opened by a HM Revenue and Customs (HMRC) fraud unit investigating offshore, corporate and wealthy taxpayers has fallen by more than half in five years, figures reveal.
The Observer reported last month that HMRC has not charged a single company under landmark legislation to crack down on tax evasion. Campaigners warned that HMRC was undermining its own deterrents by failing to use its criminal enforcement powers.
Continue reading...Amid biting austerity and rising inflation, the al-Sisi government is off-loading assets – some to a convicted murderer with Emirati cash
As dusk fell over the verdant grounds of the Marriott Mena House hotel, the reflection of the Great Pyramid of Giza grew darker in a pool built to reflect the last of the seven wonders of the world.
A band played a smooth jazz rendition of the Eagles’ Hotel California on the grassy lawns as guests assembled for dinner, while the staff attempted to project a sense of business as usual, despite the hotel’s recent acquisition by an infamous Egyptian real estate tycoon, Hisham Talaat Moustafa, and two powerful Emirati conglomerates.
Continue reading...Silver boots, Banksy original, pinball machine and more going under hammer at Christie’s, New York
Fans of Sir Elton John’s flamboyant style will next week have the chance to splash out on his snappiest Versace looks in a huge 900-plus lot auction that includes the contents of the Rocket Man’s $7.2m (£5.7m) Atlanta apartment.
Christie’s auction house in New York’s Rockefeller Center has been transformed into a John emporium for two live – and six online – sales of the singer’s collection, including several pairs of his trademark thick rim spectacles and a vast art collection that features a Love, Lust and Devotion section dedicated to his treasure trove of male art.
Continue reading...Many best rates are easy access and notice options rather than ones that lock money away
This week’s news that inflation stayed steady at 4% in January means it is still possible to put your money in a savings account with an interest rate that beats the rising cost of living.
Returns on fixed-rate savings accounts have been falling, but, so far, variable rate deals have remained unchanged.
Continue reading...Glass Pharms hope its approach could show the way for all kinds of energy-intensive horticulture in the UK
For 26 years, Olivier Dehon worked in the corporate sector, ending up as chief financial officer for Xerox in the UK and Ireland before retiring four years ago. Last month he delivered his first consignment of high-strength cannabis.
Dehon’s dope is legal and above board, produced to supply the UK’s burgeoning market for medical cannabis on prescription. What’s more, Dehon and his colleagues believe it is the first carbon-neutral indoor weed grown anywhere in the world.
Continue reading...Former president’s business fortune risks slipping from his grasp after ruling, while he marches closer to the Republican nomination
From Trump Tower on Fifth Avenue to the Trump Building on Wall Street, the Trump World Tower by the United Nations to the Trump International overlooking Central Park, Donald Trump has stamped his name in golden letters on skyscrapers across New York City.
This real estate empire was the springboard for Trump’s ascent from tabloid fodder to reality TV stardom, and ultimately the presidency, all built on his self-projected image as America’s most famous businessman.
Continue reading...Trump also banned from running any New York corporation or entity for three years in devastating blow for ex-president
Donald Trump, his eldest sons and associates have been ordered to pay over $350m by a New York judge who found them guilty of intentionally committing financial fraud over the course of a decade.
“The frauds found here leap off the page and shock the conscience,” judge Arthur Engoron wrote in his decision. In a devastating blow for the former president who had built his reputation as a successful real estate developer, Engoron barred Trump and two other executives from serving as officers or directors of any corporation or entity in New York for three years. His sons, Eric and Donald Trump Jr, were banned for two years.
Continue reading...Company claimed its chatbot ‘was responsible for its own actions’ when giving wrong information about bereavement fare
Canada’s largest airline has been ordered to pay compensation after its chatbot gave a customer inaccurate information, misleading him into buying a full-price ticket.
Air Canada came under further criticism for later attempting to distance itself from the error by claiming that the bot was “responsible for its own actions”.
Continue reading...RedBird IMI, which is majority-owned by the UAE vice-president, has invested in five media firms since its launch a year ago
The Abu Dhabi-backed company that is trying to take over the Telegraph newspapers has announced a £1.15bn deal to buy the production company behind Fleabag and the Traitors.
Under the deal, RedBird IMI, which is headed by the former CNN president Jeff Zucker, will take over London-based All3Media with the agreement of its owners Warner Bros, Discovery and Liberty Global.
Continue reading...UK economy shrank by 0.3% in October-December, worse than expected, putting UK in a technical recession in a blow to the PM
Net trade, household spending and government consumption all contracted in the final quarter of last year, helping to push the UK economy into a technical recession.
Household expenditure fell by 0.1% in real terms (adjusted for inflation) in Q4 2023, following a downwardly revised fall of 0.9% in Q3, as consumers cut back in the cost of living squeeze.
Continue reading...Governments try to generate a feelgood factor before an election. The UK has the opposite: a feel-bad factor
In the end it wasn’t really that close. The UK economy is now technically in recession after contracting by 0.3% in the final three months of 2023.
The official data brings to an end a miserable year for the UK. Growth in 2023 as a whole was just 0.1% – the weakest performance outside the Covid pandemic year of 2020 since 2009.
Continue reading...Web of orange on tube map revamped to celebrate city’s unique local history and culture, says mayor
The London Overground is to be rebranded into six lines with names inspired by the capital’s and the country’s diverse modern history, from Windrush to the Lionesses.
The web of orange on the tube map will be replaced by six colours and routes in August to help make the capital’s public transport network easier to navigate.
Continue reading...Heavy rainfall is expected to hit the Gulf of Carpentaria coast with a risk of a possible tropical cyclone from Thursday. This blog is now closed
Not everyone voted to bring Julian Assange back to Australia
Looking at the Hansard, it seems there were 11 MPs who abstained from voting on the Assange motion:
Continue reading...Andrew Bailey says cost of living had been higher than expected in December despite ‘encouraging’ inflation news
The Bank of England governor has doused hopes that better-than-expected inflation news last month will accelerate cuts in interest rates, stressing the need for further evidence of wage moderation before Threadneedle Street moves.
Appearing before the House of Lords economics committee on Wednesday, Andrew Bailey said it was “encouraging” that inflation had remained unchanged at 4% in January but the previous month’s figure for the cost of living had been higher than predicted.
Continue reading...Latest financial results show CBA now targeting savers over mortgage holders, amid concerns over weakening competition among major lenders
Australia’s biggest lender, Commonwealth Bank, is losing market share in its home loan book through a deliberate strategy of not competing for less lucrative mortgage customers.
The bank’s tactics feed into concerns there are few signs of healthy price competition between Australia’s major lenders operating in one of the most concentrated sectors among comparable economies.
Continue reading...British Retail Consortium says criminals ‘being given a free pass’, with thefts more than doubling to 16.7m incidents last year
UK shop workers are facing 1,300 incidents of violence and abuse a day and a battle to control “brazen” acts of shoplifting, as pressure mounts on ministers to intervene to protect retail employees.
Retailers saw the number of incidents of racial abuse, sexual harassment, physical assaults and threats with weapons rise 50% last year, while thefts more than doubled to 16.7m incidents, according to the British Retail Consortium (BRC), the trade body which represents most major retailers.
Continue reading...The company had predicted it would grow by 5% in 2024, but later said that the real increase would be a factor of 10 lower
Lyft beat estimates for fourth-quarter profits on Tuesday as the ride-share platform reaps the benefits of growth in rides to stadiums and airports as well as heavy cost-cutting.
Company shares surged more than 60% in extended trading but erased most of those gains after Lyft’s chief financial officer corrected a major mistake in the earnings report. The company had predicted it would grow by 500 basis points (5%) in 2024, but later said that the real increase would be a factor of 10 lower – 50 basis points (0.5%). In 2023, the stock gained about 36%.
Continue reading...More than 98% of shareholders in Europe’s biggest travel operator vote to delist in favour of Germany
Tui, Europe’s biggest travel company, is abandoning the London Stock Exchange in favour of listing its shares solely in Germany.
A vote on Tuesday resulted in 98.35% of shareholders backing a company proposal to drop its UK listing, in what will be seen as the latest blow to London’s standing in international finance.
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