The FCA says Brexit is having a 'substantial impact' on the way it works
Hungary Election Gives Orban Big Majority, and Control of Constitution Photo Voters outside a polling station in the Ujbuda district of Budapest on Sunday. Credit Marton Monus/MTI, via Associated Press BUDAPEST, Hungary — Prime Minister Viktor Orban of Hungary, who has set about transforming this former Soviet bloc member from a vibrant democracy into a semi-autocratic state under one political party’s control, appeared to have won a sweeping victory in national elections on Sunday, with 93 percent of the vote counted.
By securing two-thirds of the seats in Parliament, Mr. Orban’s party, Fidesz — along with its ally, the Christian Democrats — now has the power to change the Constitution and further bend the nation to his will.
“Hungary won a big victory,” Mr. Orban told a crowd of supporters gathered on the bank of the Danube just before midnight. He added that there was still “a big fight ahead” but that the parliamentary majority would allow him to continue to protect Hungary.
Russian currency and stocks on the Moscow Exchange dropped significantly on Monday after Washington expanded the sanctions list against Russian businessmen and companies.
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The commander of Russia’s anti-aircraft troops has called for urgent action to introduce laws regulating the sale and use of drones, saying that their widespread use could lead to serious dangers.
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Former National Secretary of Ohanaeze Ndigbo, Prof Ben Nwabueze, has said he will no longer participate in any peace talk unless the Federal Government delists the Indigenous People of Biafra (IPOB) as a terrorist group as well as de-proscribe it. He wondered why the federal government tagged IPOB a terrorist group and proscribed its activities…
Pilots, cabin crew and ground staff plan three two-day stoppages over the next two weeks
The FRC is cracking down on PwC, KPMG, EY and Deloiite for poor audit work
The world’s Big Four accounting firms will face potential fines of £10m or more for serious rule breaches from June, double the record penalty to date.
The Financial Reporting Council (FRC) said on Monday that it has accepted the findings of a study in November by former judge Christopher Clarke, which recommended much bigger fines for serious misdeeds by the world’s biggest accountants.
Larger fines are part of the FRC’s push to bolster its credibility after being heavily criticised by MPs for being too slow to take on the big accountants caught up in company scandals.
Read more PwC’s Carillion role looks like ‘massive conflict of interest’ says MP
Under the FRC’s disciplinary procedure, it sets out a case against an auditor or individual accountant at an independent tribunal before asking the tribunal to set a fine at a specific level. The record amount agreed by a tribunal so far is £5.1m for PwC ove..
French Connection said the sale may enable it to start paying dividends to shareholders again
Shares in fashion retailer French Connection jumped almost 20 per cent on Monday morning, after the group revealed plans to sell Toast for £23.3m and said the deal may allow it to start paying a dividend again.
French Connection is selling its 75 per cent holding in the brand along with Toast founders Jamie and Jessica Seaton, who are selling their 25 per cent stake, to Bestseller United, which owns a range of retailers including Jack & Jones and Vero Moda.
Read more Toast Of The Town: The artisanal lifestyle brand turns 15 The group said it expects the deal to result in net cash proceeds of £13.9m for French Connection, after the payment of management exit awards, the amounts due to the Seatons under the terms of the shareholders' agreement, and transaction costs.
The company added: “Should the disposal be achieved the company will review its ongoing dividend policy with a view ..
'We are the McStrikers, and we will not be silent, we will not be scared,' says employee Tristan Bentley
McDonald’s faces a fresh round of strikes as a union ballots members at six restaurants across the UK. The Bakers, Food and Allied Workers Union (BFAWU) has notified the fast food chain about the ballot and said industrial action will take place next year if workers vote for it.
McDonald’s employees at Crayford, Manchester, Cambridge, one central London branch and two outlets in Watford are involved.
Ian Hodson, president of the BFAWU, said on Monday that union representatives from six stores wished to be balloted on issues of pay, unequal wages for young workers, and to demand to be given a choice of fixed hours.
Read more McDonald's workers 'over the moon' about pay rise but vow to fight on “The union is committed to supporting its members and campaigning for £10 an hour, an end to zero-hour contracts, and to give McDonald’s workers a voice,” Mr ..
Business output rises to a seven month high as employers intend to hire more
UK firms’ hiring intentions are at record highs as business output hit a seven month high, new research shows.
Accountant and business advisor BDO said on Monday that its monthly Optimism Index, which measures how firms expect their order books to develop over the next six months, saw UK business output rise up to 100.05 in March from 99.78 in February.
It says the rise bucks the average long-term trend of 100, and is the highest reading since August last year.
Read more UK economy will be worst in G7 this year, City bosses warn Business optimism increased in March to 102.26, up year-on-year from 100.92.
The company’s employment index, which indicates firm’s hiring intentions, rose by over 4 points to 112.09 in March compared to the same period last year.
The BDO says this is the highest ever projection it has made for employment, and says the trend will continue as UK businesses invest more in peopl..