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Former Barclays boss denies he ‘deceived’ board

A former Barclays boss has rejected a suggestion he ‘deceived’ the board during the 2008 crisis. John Varley was giving evidence at a High Court trial on Monday where businesswoman Amanda Staveley is suing the bank for £1.6billion over claims it misled her while she helped secure deal that saved …

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Big Four face revolution in the audit industry

Britain’s Big Four auditors have just three months to outline how they will break up their businesses after a string of scandals.  The accounting watchdog has told EY, PwC, KPMG and Deloitte they must submit plans by October on how they will split their audit arms from their consulting businesses.  …

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Struggling car industry stages tentative recovery

The struggling car industry staged a tentative recovery last month as showrooms across England reopened.  Industry figures revealed 145,377 new cars were sold in June, up from 20,247 in May, when some mothballed factories were reopened. Just 4,321 were sold in April, the first full month of lockdown. This was …

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MARKET REPORT: Stamp duty hopes give builders £1.7bn boost

More than £1.7billion was added to the value of Britain’s biggest housebuilders on hopes the Chancellor will cut stamp duty.  Rishi Sunak is expected to propose raising the levy’s threshold so that it would only apply to properties valued at £500,000 or more, instead of the current £125,000.  The changes …

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Aviva appoints its first-ever female chief executive

Aviva has appointed its first-ever female chief executive after Maurice Tulloch surprisingly resigned.  Industry veteran Amanda Blanc took the reins yesterday, as the insurer revealed Tulloch had quit due to a serious family illness.  She becomes only the sixth female chief executive in the FTSE100 – joining the bosses of …

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Three months of falling UK petrol prices ended in June

Motorists received a ‘shock to the system’ in June after three months of falling fuel prices came to a halt – just as traffic volumes started to rise again following lockdown.  The average cost of petrol increased by almost 4p per litre from the start to the end of last …

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Boohoo’s business model must change, City expert says

Over the last few years, Boohoo has emerged as a stock market darling, offering investors decent returns and online shoppers the cheap, fast-fashion they crave. But the fast-paced fashion retailer has seen its share price slump over a quarter today after the group announced it had launched an investigation into …

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