Amazon’s decision to freeze funds over VAT verification leads to legal threats.The move has affected hundreds of sellers, who now face financial distress.The frozen amounts could total tens of millions, according to legal representatives.Criticism has been directed at both Amazon and HMRC over the handling of the situation.Amazon is taking steps to address the issue, with most sellers already verified.Amazon’s recent action to freeze funds of sellers unable to prove their VAT status is leading to potential legal repercussions. Hundreds of sellers feel financially trapped following the online marketplace’s stringent verification processes.The legal firm Rosenblatt is building a case alleging…
Author: Dave Antrobus
Frasers Group has made a significant move by acquiring more shares in Mulberry shortly after its takeover offer was turned down.The group subscribed for 4 million shares at 100p each, asserting their interest despite setbacks.Frasers previously held 22.1 million shares, representing just under a 37% stake in Mulberry.The rejected £83m takeover bid was seen as undervaluing Mulberry’s future potential.Mulberry plans to maintain its £10m fundraising strategy despite Frasers’ increased investment.Frasers Group has strategically expanded its stake in Mulberry, acquiring an additional 4 million shares shortly after its initial takeover proposal was rejected by the luxury fashion retailer. This decisive acquisition,…
A woman from Gravesend, Kent, has been handed an 18-month suspended sentence for her involvement in a conveyancing fraud scheme that led to the fraudulent transfer of £70,500 from a home buyer.Kimberley Abdul, aged 36, was convicted of concealing, transferring, or removing criminal property in connection with a conveyancing fraud. Despite her conviction, the primary perpetrators behind the fraud remain unidentified.In April 2021, a home buyer in Hertfordshire was deceived into transferring £70,500 to a fraudulent bank account. The victim received an email, allegedly from their conveyancing solicitor’s office, requesting the funds be sent to a new account. Although the…
Tate & Lyle’s acquisition of CP Kelco bypasses a shareholder vote, driven by new FCA rules. The decision marks a strategic move amid evolving regulations.The £1.4bn deal completed without shareholder input complies with recent Financial Conduct Authority guidance.Tate & Lyle CEO highlights strategic growth and alignment with CP Kelco’s capabilities.The acquisition enhances platforms in sweetening, mouthfeel, and fortification, offering expanded solutions.The move avoids delays from shareholder consultations, focusing on operational synergies and market competitiveness.Tate & Lyle’s decision to bypass a shareholder vote for the acquisition of CP Kelco aligns with new Financial Conduct Authority regulations. This £1.4bn transaction moves forward…
New Look has announced significant progress in its sustainability strategy initiated in 2022, reducing its carbon and water footprints substantially.The retailer achieved a 22% reduction in direct and indirect emissions in scopes 1 and 2 since 2022, aligning with the 1.5°C pathway.Carbon emissions were reduced by 12% overall, with significant progress across scope 3 emissions, achieving an 11% reduction.New Look’s focus extends beyond environmental efforts to social responsibility, establishing partnerships and initiatives to boost community and worker welfare.Looking forward, New Look remains committed to enhancing sustainability and social responsibility, setting an exemplary standard in the fashion industry.New Look has provided…
An ongoing inquiry into the Post Office has surfaced allegations against its chair, Henry Staunton, involving misconduct and undue pressure on senior staff.Key revelations were highlighted during the inquiry, including claims made by Ben Foat, the organisation’s general counsel, concerning Staunton’s aggressive behaviour.Staunton allegedly attempted to derail an internal misconduct investigation by intimidating Foat, who faced significant stress as a result.The allegations initially arose from reports by Jane Davies, former chief people officer, prompting a thorough examination by barrister Marianne Tutin.These events have raised serious concerns regarding the organisational culture and practices within the Post Office.The inquiry into the Post…
Ryanair has unveiled new flight paths from Bristol Airport while urging the UK government to remove the Air Passenger Duty (APD).The airline’s winter schedule from Bristol includes five new destinations, raising the total to 30.Ryanair criticises the APD as an impediment to UK tourism, affecting regional growth.The airline promises expanded UK operations if the APD is abolished, including more jobs and aircraft investments.A slump in profit has highlighted the challenges Ryanair faces amid stringent taxes.Ryanair has announced five new routes from Bristol Airport as part of its winter schedule, bringing its total number of destinations from this hub to 30.…
British Land has made a significant move by acquiring seven retail parks in the UK for £441m.The acquisition increases British Land’s retail portfolio to 32% of its total holdings.Notable sites include Central Retail Park in Falkirk and Cleveland Retail Park in Middlesbrough.Marks & Spencer anchors six out of the seven newly acquired parks.The acquisition was funded through a £300m equity placing and existing resources.British Land has strategically acquired a portfolio of seven retail parks from Brookfield, a Canadian investor, for a total of £441 million. This acquisition is part of a broader strategy to enhance their retail holdings, now making…
The Criminal Bar Association (CBA) presents evidence regarding bullying and harassment to an independent review led by Harriet Harman.Reports highlight a culture where high standards lead to behaviours dismissing alternative viewpoints.The association identifies problems such as harassment and inappropriate conduct justified by the pursuit of a higher purpose.CBA recommends mandatory training for barristers on bullying, harassment, and inclusion.Proposals include independent mechanisms in chambers for complaints and appointing an ombudsman.The Criminal Bar Association (CBA) has presented substantial evidence to an independent review led by Harriet Harman, addressing bullying and harassment within the legal profession. The submission highlights a pervasive culture where…
A significant legal battle has begun in the High Court regarding aircraft stranded in Russia.Aercap Ireland Limited is pursuing compensation from insurers over jets stuck amidst Ukraine conflict sanctions.Over 400 aircraft worth nearly $10 billion remain in Russia due to sanctions imposed by the West.Insurers contest payouts, questioning the physical loss of aircraft and impact of Western sanctions.The trial could set critical precedents in the application of war-risk versus all-risk insurance policies.A major judicial confrontation has commenced in London’s High Court concerning aircraft belonging to Aercap Ireland Limited, which have remained in Russia following sanctions due to the Ukraine conflict.…