CMA extends deadline to probe Facebook’s $400m Giphy deal September 10, 2021 The Competition and Markets Authority (CMA) has today extended the deadline of its investigation into Facebook’s $400m acquisition of Giphy until December 2021, according to the CMA website. The changes to the schedule of the regulator’s investigation follows criticism levelled at it by the social media giant Facebook after the CMA said it may force [...]
Mishcon de Reya partners back IPO plans as firm edges closer to listing September 10, 2021 Mishcon de Reya partners approved the law firm’s plans to go public on the London Stock Exchange, according to reports. Mishcon de Reya officials confirmed that at least three quarters of the partnership voted in favour of the planned initial public offering (IPO) of the firm, according to The Times. The law firm will be [...]
First UK LGBT business champion named September 10, 2021 Iain Anderson, the executive chairman of PR firm Cicero, has been appointed by the government to improve workplace equality in small businesses, the minister for women & equalities, Liz Truss, has announced this morning. The news follows a report earlier this year by the Chartered Institute of Personnel and Development (CIPD) which found that 40 [...]
Morrisons to cut sick pay for unvaccinated staff amid rising costs September 10, 2021 Morrisons, the fourth biggest UK supermarket, will cut sick pay for unvaccinated employees who need to self-isolate in a bid to limit the “biblical costs” of the pandemic, according to reports. The news comes as the supermarket readies itself to be auctioned off next month and after it reported a slide in interim profit before [...]
Facebook accused of gender discrimination in job adverts September 9, 2021 Campaign groups have accused Facebook of breaking UK equality laws by allegedly allowing businesses to target job ads based on gender. Campaign group Global Witness submitted complaints to the Equality and Human Rights Commission (EHRC) and Information Commissioner, after finding that posts for jobs, traditionally associated with particular genders such as mechanics or psychologists, were [...]
EY to spend $2bn on improving audits after Wirecard scandal September 9, 2021 EY will invest around $2bn (£1.4bn) over three years to improve the quality of its audits after the high-profile collapse of payments company Wirecard, according to the Financial Times who first reported the news. The funding is part of a larger, and record, $10bn investment plan, announced by EY yesterday, to finance staff training and [...]
KPMG wants nearly a third of staff to be from working class backgrounds September 9, 2021 In a first for a large business in Britain, KPMG has set a target for 29 per cent of its UK partners and directors to come from a working class background by 2030, the company said in an announcement today. Currently less than a quarter of KPMG’s partners, and a fifth of its directors, are [...]
Lloyd’s of London reports £1.4bn profit in first half of 2021 September 9, 2021 Lloyd’s of London returned to profit in the first half of 2021, with the help of a stronger underwriting performance, the insurer announced this morning. The commercial insurance market’s results indicate its recovery after it incurred significant losses during the pandemic last year. In the same period a year ago Lloyd’s suffered a total loss [...]
Funding Circle CEO to step down after over a decade September 9, 2021 Funding Circle’s CEO Samir Desai CBE will step down next year and be succeeded by managing director Lisa Jacobs, the funding platform said in an announcement today. Desai will step back as chief executive officer of the lender in January 2022, after 12 years in the position. He will transition to a new role as [...]
Deloitte global revenue rises to $50bn with surge in Covid consulting September 8, 2021 Deloitte has today reported a 5.5 per cent rise in its global revenue for 2021 up to $50.2bn as it has seen demand for its advisory services grow during the pandemic. The firm also saw its workforce grow by 3.2 per cent to over 345,000 for the fiscal year ending 31 May 2021. The big [...]
