The inside story of the Barclays trial

February 28, 2020@5:39 AM TFP Editor 0

Image copyright Reuters The acquittal of three former Barclays executives is the only time a jury has ruled on criminal allegations against senior bankers for events in the 2008 crisis. The senior executives in this trial, which began in October – Roger Jenkins, 64, Tom Kalaris, 64 and Richard Boath, 61 – were not the top bosses of Barclays. Instead, they were between one and four ranks down from the board of directors in the bank’s hierarchical structure. The allegations centred on a giant fundraising [Read More]

Former Barclays executives cleared of fraud charges

February 28, 2020@5:16 AM TFP Editor 0

Image copyright Getty Images Three former top Barclays executives have been cleared of fraud charges linked to how the bank raised billions from Qatar in the financial crisis. The Serious Fraud Office had alleged the bank had given Qatar secret fees that helped it to survive without a UK government bailout in 2008. Roger Jenkins, Tom Kalaris, and Richard Boath were found not guilty on all charges by the jury in under six hours. Former Barclays chief executive John Varley was acquitted in June. Read [Read More]

Leasehold property buyers ‘misled by developers’

February 28, 2020@3:43 AM TFP Editor 0

Image copyright PA Media An investigation into the leasehold property market has found “worrying evidence” that buyers are being treated unfairly and charged unreasonable fees. The Competition and Markets Authority (CMA) said many homeowners found themselves in “serious traps” after being misled by housing developers. It said it would take action against firms, calling for a change in the law and for refunds to be paid. But it has not disclosed any names so far as it continues to investigate. The CMA found some buyers [Read More]

British Airways owner IAG warns of coronavirus hit

February 28, 2020@1:51 AM TFP Editor 0

Image copyright AFP British Airways owner IAG has warned that its profits in 2020 will be hit by the effects of coronavirus. The airline group said flight suspensions to China and cancellations on Italian routes would affect how many passengers it would carry this year. Due to uncertainty about the impact and duration of the current outbreak, it was not possible to say how much profits would be hit, it said. Rival EasyJet has said it is cancelling some flights due to the virus. The [Read More]

Downfall: BP refinery worker sacked over Hitler parody wins job back

February 28, 2020@12:46 AM TFP Editor 0

Image copyright Downfall Image caption Bruno Ganz’s depiction of Adolf Hitler in Downfall has spawned countless parodies A BP refinery worker in Australia has successfully won back his job after being sacked for parodying the company in a well-known Hitler meme. Scott Tracey used the popular meme, from the 2004 film Downfall, to portray scenes from company wage negotiations, posting it on a closed Facebook group. He later lost an unfair dismissal case which ruled the video was offensive. But an appeal judgement on Friday [Read More]

Parents in Japan and Hong Kong struggle as schools shut

February 27, 2020@11:28 PM TFP Editor 0

Image copyright Getty Images Image caption A child plays in a playground of a public housing estate win Hong Kong while wearing a mask as a precautionary measure against the spread of the coronavirus Costs are growing for parents in Japan and Hong Kong with schools shut until April because of the coronavirus. Schools are facing pressure to refund fees as children are forced to stay at home. On Thursday, Japan joined Hong Kong in shutting schools in a stepped-up effort to stem the spread [Read More]

Coronavirus: Shares face worst week since global financial crisis

February 27, 2020@8:14 PM TFP Editor 0

Image copyright Getty Images Stock markets across the globe are suffering their worst week since the global financial crisis of 2008. Asian markets have reacted badly as the coronavirus outbreak spreads across Europe and unsettles investors. On Wall Street, the Dow Jones index fell almost 1,200 points yesterday – its biggest daily points-drop in history. This rattled investors across Asia on Friday – with big drops on Japanese, Australian, Korean and Chinese markets. In Japan, the Nikkei 225 index fell 3% in early trading on [Read More]

Gambling industry ‘needs tougher regulation’

February 27, 2020@6:20 PM TFP Editor 0

Image copyright Getty Images More should be done to limit problem gambling, including toughening up oversight of the £11bn industry, the National Audit Office (NAO) has said. The body, which scrutinises public spending on behalf of parliament, called for better protection for “at risk” gamblers. It said the government should look at the way the regulator, the Gambling Commission, is funded. The Commission said it agreed that more needed to be done. Licensed gambling has grown by 57% over the last decade boosted by online [Read More]

Road schemes may face Heathrow-style court action

February 27, 2020@6:19 PM TFP Editor 0

Image copyright Getty Images Image caption Road building in previous decades was subject to less stringent environmental criteria Plans for a £28.8bn roads programme could be challenged in the courts for breaching the UK’s laws on climate change. The plans, due to be published next month, don’t take into account commitments on reducing emissions, the BBC has learned. They are likely to face legal challenges from environmentalists. On Thursday a court ruled that plans to expand Heathrow had failed to take climate policies into account. [Read More]

New ‘east-west divide’ splitting north start-up economy

February 27, 2020@6:04 PM TFP Editor 0

Image copyright Getty Images Image caption While western areas including Manchester are thriving, regions east of the Pennines are lagging behind, the study says An “east-west divide” has opened up in the number of start-ups created across the north of England, research reveals. Data suggests a larger number of start-up firms are thriving on the west side of the Pennines, with significantly fewer to the east. This runs contrary to the government’s Northern Powerhouse ambition to “level up” the North, the study said. The Department [Read More]