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City watchdog opens probe into tax affairs of Wise founder Kristo Käärmann
THE trouble facing Kristo Käärmann, the billionaire co-founder of Wise, grew today when the City watchdog opened an investigation into his tax affairs.The financial entrepreneur has been on the list of HMRC’s so-called “deliberate defaulters” since September 2021. He failed to pay a £720,000 bill for 2017-18 and was hit with a fine of £366,000.Today …
Business
Sky News
Russia in first foreign debt default in over a century, bondholders claim
Russia has reportedly missed a deadline to pay investors of its international bonds, a scenario that would place it in default for the first time since the 1917 Bolshevik Revolution.According to the Reuters news agency, some Taiwanese holders of Russian Eurobonds had not received interest due when a grace period expired on Sunday. Moscow was …
Business
Sky News
HSBC executive Haire in surprise move to run the Skipton
One of HSBC’s top UK executives is quitting in a surprise move to run the Skipton Building Society, one of Britain’s biggest financial mutuals.Sky News has learnt that Stuart Haire, group general manager and chief executive of the London-listed banking giant’s UK personal and private banking businesses, is to become the new CEO of the …
Business
Business Live
Welsh food and drink sector reports record exports
Welsh food and drink exports hit a record high in 2021 of £641m. Wales also had the largest percentage increase in the value of food and drink exports out of the four UK nations between 2020 and 2021 rising by £89m, a growth of 16.1%. The highest value export category for Welsh food and drink …
Business
Business Live
‘Private equity can be a force for good’: Investment boss on industry’s role in backing Manchester entrepreneurs
A Manchester investment boss has insisted that private equity “can be a force for good” and that opportunities will continue to pop up to back ambitious entrepreneurs despite the current economic woes. Chris Wright, the head of Inflexion’s office in the city, added that while there are a “range of views” around the role of …
Business
Business Live
Stop in-fighting and help economy recover, CBI boss warns Government
The UK economy is heading into a “critical quarter” and needs the Government to put its internal divisions on hold to avoid the country tipping into recession, the head of the country’s largest business organisation has warned. CBI director-general Tony Danker has used an interview with The Journal to warn that inflation, staff shortages and …
Business
Sky News
Hearn duo eye £150m windfall from sale of Matchroom Sport stake
The father-and-son duo who have built Matchroom Sport into a global sports promotion empire are plotting a deal that will cement their status among Britain’s super-rich.Sky News can reveal that Barry and Eddie Hearn are in detailed talks with at least three private equity firms about the sale of a substantial minority stake in Matchroom, …
Business
Sky News
Rail union ‘won’t hesitate’ to take further strike action as third walkout causes weekend disruption
Rail union boss Mick Lynch has warned his members will not hesitate to take further strike action as he said the disruptive dispute had “a long way to go yet”.But he insisted the Rail, Maritime and Transport (RMT) union would engage in a “constructive dialogue” and work with Network Rail and the train firms to …
Business
Sky News
It once cost £1 to get into Glastonbury – but now fans are feeling the effects of spending squeeze
A cheap festival should not be an oxymoron but many people at Glastonbury this year are in a very different place financially to where they were when they booked their tickets before the coronavirus pandemic.Festival goer Harriet Wheeler, 32, from Brighton, said people she usually goes to watch music with are not forking out this …
Business
Sky News
KPMG chief takes swipe at rival EY’s $80bn break-up plan
The global chairman of KPMG has taken a swipe at the $80bn break-up being hatched by rival EY, implying that such a radical restructuring would be akin to an act of corporate vandalism.Sky News has obtained part of a memo sent by Bill Thomas to partners at the firm, reiterating KPMG’s commitment to retaining the …
Business
Business Live
Tyneside’s NTG Precision Engineers announces expansion into bigger production base
NTG Precision Engineering has announced plans to boost its manufacturing capabilities with a move to a new facility in the North East. The company will move to new premises close to its existing factory in Team Valley, Gateshead, this summer, serving up additional capacity for the precision engineering and assembly of components. At 45,000sq ft, …
Business
Business Live
Do we get the bosses we deserve?
Do we get the bosses we deserve? Certainly, many of those leading organisations have views of their achievements that are poles apart to that of their employees For example, a recent report from Deloitte showed a massive difference between those executives who felt they had done a good job supporting their staff during the last …

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