HSBC glitch led to thousands of small business loans in the wrong name
A technical glitch has meant thousands of government-backed small business loan offers to HSBC customers were sent under the wrong name.
Customer Cesar Basanta told the BBC he's had to wait weeks to receive a crucial £50,000 bounce back loan.
For more than two weeks, an error meant the offer was made in his name, rather than his company's.
HSBC said it is fixing the problem an...Continue reading
Rishi Sunak's summer statement: Five things he may do
Strawberries and cream, maybe even a glass of rosé: the "summer update" has a whiff of end-of term festivities. But the chancellor's summer statement on Wednesday may impact millions of livelihoods - and his own reputation.
The grants, subsidies and loans deployed to shield the British economy from the shock of lockdown didn't manage to preserve all jobs. However, they ensured that lay-o...Continue reading
Cass: Famous business school in name-change over slavery
The prestigious Cass Business School, in London, is changing its name because of its associations with Sir John Cass, a 17th Century merchant and proponent of slavery.
The school, part of City, University of London, was named after the figure in 2002, after a donation from the foundation that bears his name.
The foundation will also change its name as it is "no longer appropriate"....Continue reading
EU threatens escalation in tariff fight over Boeing and Airbus subsidies
The EU says it will act "decisively" if the US goes ahead with a threat to put new tariffs on its goods.
It is latest twist in a long-running row with Washington over subsidies granted to the planemaker Airbus.
For more than a decade, the EU and US have accused each other of propping up their home aviation markets with tax breaks, research grants and other aid.
Last month, the...Continue reading
Accountancy giants face revamp amid criticism
The UK's biggest accountancy firms have been told to ring-fence their audit arms from their consultancy units by 2024 in a major shake-up of the sector.
The Financial Reporting Council (FRC) has told the "Big Four" they must submit separation plans by October.
It follows the collapse of several high-profile companies that had been approved by auditors, such as government contractor ...Continue reading