Page 38 - Treasury Select News Today

Tuesday 11 May 2021 1:35 pm Can I give you lunch? David Cameron sent more than 40 messages to ministers and officials to lobby for Greensill David Camerons lobbying of government ministers for Greensill Capital is being scrutinised by multiple inquiries, including one by Boris Johnson and one by the Treasury Select Committee. (Getty Images) David Cameron complained that a decision to exclude failed Greensill Capital from a government bailout programme was “bonkers” ...

ITV News Political Correspondent Carl Dinnen explains how damaging the lobbying texts could be for David Cameron The boss of Greensill Capital apologised for the failure of the finance firm saying he takes "complete responsibility" as the City watchdog launched a probe into the firm. Greensill was placed into administration in March, threatening thousands of UK jobs at Liberty Steel which was dependent on its finance. Giving evidence to the inquiry on Tuesday, Lex Greensill told the Commons Tre...

Lex Greensill apologises for Greensill Capital collapse as he faces fraudster allegations Speaking to a Westminster committee today, Lex Greensill said that "I bear complete responsibility for the collapse of Greensill Capital" and apologised to its clients. (Parliament TV) Lex Greensill has apologised for the collapse of Greensill Capital and has blamed it on the firm’s insurance provider Tokio Marine pulling its coverage in March this year. Speaking to a Westminster commit...

Britain’s Financial Regulator Opens Investigation Into Greensill Collapse Britain’s Financial Conduct Authority said on Tuesday it was formally investigating the UK operations of collapsed supply chain finance company Greensill as part of global probes. “We are also cooperating with counterparts in other UK enforcement and regulatory agencies, as well as authorities in a number of overseas jurisdictions,” FCA CEO Nikhil Rathi said in a letter to parliament’s Treasury Select Committee....

One could ask the question: how did the financial system got us into such a mess? First one has to look at the value of anything and nothing… On average:

Former West Dunbartonshire MP named new Lord Speaker John McFall served as a local Labour politician in the area for 23 years. (Image: Daily Record) Join thousands of others in getting the stories that matter to you sent straight to your inbox.Invalid EmailSomething went wrong, please try again later. Subscribe When you subscribe we will use the information you provide to send you these newsletters. Your information will be used in accordance with ourPrivacy Notice. Thank you for subscribingWe...

Most of the European bankers affected by the rule work in London. The BoE at the time objected, saying it could lead to banks ramping up fixed pay to get round the cap and there were other ways to curb excessive payouts, such as deferring a portion of the bonus over a long period. Its departure from the EU’s full orbit in December means Britain can ditch or change the rule. “In the post-Brexit agenda at the moment we have other issues that we are prioritizing,” Victoria Saporta, executive...

Firm linked to lawyer leading Greensill lobbying inquiry given £7m in government contracts Alan McGuinness, political reporter A firm linked to the lawyer tasked by the prime minister with looking into the Greensill Capital lobbying scandal has been given £7m in government contracts over the last year. © Other The review will examine how government contracts were secured by Lex Greensills (right) firm, as well as the actions of ex-PM David Cameron (left) Boris Johnson has a...

Thousands of homeowners chained to toxic equity release mortgages could finally be set free, saving each of them thousands of pounds. Soaring numbers of older homeowners use the loans as a way to borrow money against the value of their properties. In contrast to conventional mortgages, the debt and interest is not repaid until the owner dies or moves into a care home. Hope: Age Partnership has pledged to look at all existing equity release loans to see whether borrowers can be switched to a bet...

National Audit Office launches investigation into Greensills involvement in Covid loan schemes FILE PHOTO: Logo of Greensill Bank is pictured in downtown Bremen The National Audit Office (NAO) has launched a probe into supply chain finance firm Greensill Capital following its collapse. Last month the supply chain finance firm appointed Grant Thornton as its administrators, warning it is in “severe financial distress” as its practices came under severe scrutiny. Now the NA...