Background The Economic Crime and Corporate Transparency Act (2023) (the Act) introduces the most significant changes to Companies House since corporate registrations were established in 1844. It is a new UK law that aims to tackle economic crime, improve transparency of companies and other registered entities, reform the role of UK Companies House, and strengthen...
Category: Bussiness
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EG Group Completes Sale of U.K. Forecourt Business, Plans to Repay Debt
Photograph courtesy of EG Group EG Group Ltd. has completed the sale of its remaining U.K. forecourt business and other standalone foodservice locations to co-founder and previous CEO Zuber Issa, the brother of CEO Mohsin Issa, the company said in its third-quarter trading report. Mohsin Issa is now the sole CEO. Blackburn, U.K.-based EG Group,...
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Expansion of RM Williams in the United Kingdom
Australian brand RM Williams is expanding its presence in the UK, opening a new store and partnering with department stores. A new RM Williams store has been launched in Marlow, Buckinghamshire, marking its first store outside Australia since 2017. The iconic brand will now be available in Harrods, Liberty, and Selfridges, expanding its UK footprint....
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New Jersey kicks off United Kingdom economic mission
Listen to this article A delegation led by Gov. Phil Murphy is on the ground in the United Kingdom for an economic mission that was organized by Choose New Jersey. Officials say the aim of the trip is to strengthen economic relations between the state and the United Kingdom – with a focus on life...
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U.K. Government Introduces AI Self-Assessment Tool
The U.K. government has launched a free self-assessment tool to help businesses responsibly manage their use of artificial intelligence. The questionnaire is intended for use by any organisation that develops, provides, or uses services that use AI as part of its standard operations, but it’s primarily intended for smaller companies or start-ups. The results will...
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UK launches platform to help businesses manage AI risks, build trust
For businesses, the new platform can provide a streamlined method for addressing AI risks and ensuring compliance. “By establishing clear regulatory frameworks, the UK’s AI assurance platform can foster trust and accountability, which are critical for compliance with laws such as GDPR and sector-specific regulations,” said Prabhu Ram, VP of Industry Intelligence Group at CyberMedia...
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UK interest rates cut to 4.75% but Bank hints fewer falls to come
Getty Images UK interest rates could take longer to fall further after the Bank of England forecast that inflation will creep higher after last week’s Budget. The Bank cut interest rates to 4.75% from 5% in a move that had been widely expected. But it indicated that while the extra spending outlined in the Budget...
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Ensuring trust in AI to unlock £6.5 billion over next decade
UK’s AI assurance market set to grow six-fold by 2035 unlocking more than £6.5 billion New support for businesses unveiled to help develop and use trustworthy AI products and services UK AI Safety Institute signs new agreement with Singapore, deepening international AI safety collaboration The UK’s market for ensuring the trustworthiness of AI systems is...
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UK orders Chinese owners to relinquish control of Scottish semiconductor business
The British government on Wednesday ordered a Chinese-owned holding company to sell its shares in a Scottish semiconductor business following a national security assessment. Under the United Kingdom’s National Security and Investment Act 2021, the government can “scrutinise and intervene in business transactions, such as takeovers, to protect national security” in 17 sensitive areas of...
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Trump tariffs would halve UK growth and push up prices, says thinktank
UK growth is likely to be halved by Donald Trump’s victory in the US presidential race if goes on to impose the swingeing new tariffs he has threatened, a leading thinktank has warned. The National Institute of Economic and Social Research (NIESR) said the protectionist measures planned by the Republican challenger for the White House...
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Heimdal and COOLSPIRiT Team Up to Strengthen UK Business Cybersecurity
LONDON, United Kingdom, 6th November 2024 – Heimdal, a leading provider of advanced cybersecurity solutions, and COOLSPIRiT, a UK-based expert in data management and IT infrastructure, are pleased to announce a strategic partnership to deliver cutting-edge security technologies to businesses across the UK. Today’s organizations face sophisticated cyber threats...
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Oliver Wyman boosts actuarial business with London launch
The actuarial branch of Oliver Wyman has strengthened its property and casualty capability in Europe by setting up a London-based presence. To spearhead the effort, Matthew Facey has joined the firm as a partner based in London. Oliver Wyman Actuarial is a specialist business of global management consultancy Oliver Wyman. Providing actuarial services to insurers,...