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Bosses have lashed out at a government plan to impose fines and bans on directors for inaccuracies in their companies’ accounts, claiming it will add an unwanted burden to strained firms and deter qualified candidates from joining boards. Business Secretary Kwasi Kwarteng is preparing to publish long-awaited proposals to clean up the audit industry and improve the quality of company accounts following scandals at the likes of Carillion and Patisserie Valerie . A swathe of prominent business figures questioned whether the changes would place an unreasonable burden on directors and protect auditors from being held accountable. Sir Martin Sorrell, founder of advertising firm S4 Capital, said it did not make sense to “strangle initiative” at companies trying to survive the pandemic. Charlie Mullins, chairman and founder of Pimlico Plumbers, said: “What’s the point of having auditors to sign off accounts if they’re going to make directors do porridge or pay huge fines when … [Read more...] about Bosses hit out at plans to fine and ban directors for accounting errors

Joe Biden won the US presidential election – with running mate Kamala Harris – after receiving  the most votes of any US candidate in history. It is widely expected that Biden will roll the clock back as much as possible to January 2017, when he and Barack Obama left office. Biden wasted no time signing executive orders , with his official schedule for January 20 showing he set aside 30 minutes in the afternoon to begin that process. Biden signed 17 orders and actions just hours after being sworn in as US leader to break from policies of departing President Donald Trump and set new paths on immigration, the environment, fighting Covid-19 and the economy. In first-day moves, he ended Trump’s much-assailed ban on visitors from several majority-Muslim countries and halted construction of the wall that Trump ordered on the US-Mexico border to stem illegal immigration. He also set a mask mandate on federal properties to stem the spread of Covid-19; restored protections of … [Read more...] about Joe Biden’s policies: The President’s views on Covid-19, immigration and the environment

Announcement of the results from BT Group strike ballots Sign up for FREE for the biggest new releases, reviews and tech hacks SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info According to reports, around 25,000 members of the Communication Workers Union (CWU) at BT and Openreach and 9,000 BT call centre workers were balloted and overwhelmingly backed industrial action, the (CWU) recently said. BT employees have voted overwhelmingly in favour of holding a national strike for the first time in 35 years, sparking the latest industrial action dispute over wages. Related articles Where is the safest place in the UK during nuclear war? Top 20 areas Trade unions and Labour could split as 'summer of discontent' looms … [Read more...] about BT national strike threatens to severely hamper broadband as employees set to walk out

BBC BREAKFAST'S Naga Munchetty slammed Charlie Stayt for goading a guest with an 'unsafe' demand. Naga , 47, and co-star Charlie , 60, interviewed a group of lads from a boxing club, which has helped keep hundreds of kids away from crime. Unfortunately the gym could be faced with closure as its running costs soar. Jav Khaliq, who won the IBO welterweight title back in 2000, offers classes to around 100 people a week. The hosts were joined by Jav along with Mohammed, Dwayne and Fidel from Nottingham. Naga praised Jav for giving youngsters an alternative to being on the streets. READ MORE ON BBC BREAKFAST 'SUPERSTAR' BBC Breakfast's Carol Kirkwood pays touching tribute to co-star ahead of exit LOOSE LIPS BBC Breakfast's Naga Munchetty brands co-stars her 'rivals' - & regrets it Jav explained the difficulties the club is facing, he said: "A couple of months ago we received an email that our rent … [Read more...] about BBC Breakfast’s Naga Munchetty scolds Charlie Stayt for goading guest with ‘unsafe’ demand

Scottish firms put up their prices at a record rate last month amid “unprecedented inflationary pressures”, new analysis has shown, as rising costs continue to bite. Business activity north of the boarder rose at the fastest pace for three months in February, according to the Royal Bank of Scotland’s latest Business Activity Index, but continued to lag the UK trend. The index, where anything above 50 shows growth, saw the measure of combined manufacturing and service sector output climbing to 55.5 last month, up from 53.7 in January. Malcolm Buchanan, chairman of the Scotland Board at the Edinburgh-based bank, said business activity rose as demand strengthened and Covid-19 rules were scaled back. Recommended Over £130m handed to housing providers named and shamed by regulator “That said, the stronger performance was dampened slightly by unprecedented inflationary pressures in February,” he said. “Firms continued to face surging energy, fuel, … [Read more...] about Scottish firms put prices at record rates as rising costs bite

If Donald Trump returns to power in 2025, he will find a world starkly different from the one he tried to construct while president. All hopes of normalizing relations with Russia have been obliterated in the slaughter of Ukraine. China is more powerful than ever. Iran is closer to acquiring nuclear weapons. And Kim Jong Un is still behaving like Kim Jong Un. But, in a narrow yet important sense, the world has become more Trumpian since he left office. After NATO met in Madrid this past week to agree on a new strategy to defend the West, the great irony is that it has started to resemble the kind of organization Trump and his wing of the Republican Party said they always wanted. NATO’s European members are paying more for their own defense, the alliance is more Eastern European in its outlook and positioning, and, for the first time, it is explicitly focused on America’s great-power rivalry with China. Trump is not primarily responsible for these changes—for that he can thank … [Read more...] about The Accidental Trumpification of NATO

Britain’s competition regulator, the Competition and Markets Authority (CMA), has not had a good 2020. The Government ignored its recommendations made last year for a new regulator for the audit industry , and has not acted on the agency’s calls for stronger consumer protection powers. Its warnings to businesses against raising prices during Covid were criticised by economists for potentially leading to shortages of things like food and PPE . And the CMA’s chairman, ex-MP Andrew Tyrie, was ousted last month in a coup by board members unhappy with Tyrie’s political, attention-seeking style. This week it released the final report in its study of the digital advertising market . In it, the CMA concluded that the digital advertising market was uncompetitively dominated by Google and Facebook – Facebook via its social media apps, and Google via the popularity of Youtube, Google Search, and the company’s network of advertising on third party websites. The report is … [Read more...] about The UK has badly missed the mark on how to regulate Big Tech

TV ad breaks could become longer and more frequent, under new plans mooted by the government's tv regulator. Ofcom said the number of ad breaks on TV could increase and commercials may include more product placements. The regulator is considering changes to the rules as traditional broadcasters try to keep pace with streaming services such as Netflix and Amazon Prime . In a report to the Secretary of State on Wednesday, Ofcom said it was looking at the rules around making commercials longer. It added "initial discussions with stakeholders" had taken place and plans to outline next steps would happen later this summer. In the report, Ofcom said the presence of added competition had "put pressure on broadcasters, squeezing revenues". Read more in Money What a toothache Shoppers fuming as Sainsbury’s refuses to honour price glitch ISA ISA BABY I lost £1,000 due to Isa loophole - how you can avoid it An … [Read more...] about Major change could be coming to TV under new advertising rules