Asset manager vindicated in mammoth £1bn Guernsey court case
US-based The Carlyle Group has won a civil case against claims it was in breach of its duties in the management of a Guernsey fund leading to total investment losses in the 2008 global financial crash.
Investment | 5 Sep 17
Rising carbon prices threaten dramatic profits drop: Schroders
Carbon prices will have to increase exponentially over the coming decades if we are to meet the Paris climate goals, says Schroders. This will result in a dramatic drop in many companies’ profits.
IoM court hands liquidator more powers after Eco Fund failure
In a significant departure from its historic position, an Isle of Man court has given liquidators greater scope than simply winding up a company’s affairs and enabled them to consider whether restructuring or refinancing proposals are worth pursuing.
Best Practice | 5 Sep 17
Complaints against SJP up but Sesame worst advice offender
The UK’s Financial Ombudsman Service (FOS) received 22% more new complaints against St James’s Place in 1H17 compared with 2H16 and, despite a drop in the number of complaints against Sesame, the network remained the most complained about advice provider.
Tax avoidance ‘cost UK £12.8bn’ over five years
Tax avoidance cost the country at least £12.8bn (€13.9bn, $16.6bn) between 2010 and 2015, according to new figures and analysis by the House of Commons Library.