Wood Group Told of UK's FCA Investigation Into Company
John Wood Group Plc, the UK energy-services firm, said the country's Financial Conduct Authority began an investigation into the company spanning a 22-month period.
The Scottish firm said in a statement on Friday that the probe covers the period from Jan. 1, 2023 to Nov. 7, 2024.
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The Verge
30 minutes ago
- The Verge
Lamborghini Revuelto review: perfect harmony
With the dawning of a new era of hybridization in the automotive industry, more and more manufacturers are integrating electric propulsion into their lineups. Mild-hybrid systems are well-established, and more beneficial plug-in hybrid systems keep getting better and better. Even Lamborghini's participating in the latest wave of hybridization, which might come as a surprise to some. That's because this Italian company's outlandish supercars have never been regarded as thrifty, or ever trying to be thrifting. They've always returned old-truck-like fuel economy thanks to their ravenous 10- and 12-cylinder engines. And their innate ability to make those behind the wheel drive them as inefficiently as possible doesn't help, either. But by God, it's a reality in the 2025 Lamborghini Revuelto, the Italian brand's top V12-powered model. Its plug-in hybrid system is mainly there to up the thrills, but surprisingly, it can also return respectable fuel economy with no downsides to its ravenous driving experience. Here's how $612,858 (before costly options) worth of Lambo slots into our current golden age of hybridized high-performance. Lamborghini goes out of its way to call the Revuelto its first-ever plug-in hybrid HPEV (high-performance electric vehicle), and it truly is: a 3.8 kWh battery sends juice to two AC motors mounted on the front axle, and another attached to the transverse-mounted eight-speed dual-clutch gearbox. By default, the mighty Lambo comes to life without firing up its engine, instead sending power to the front motors for backing up (there's no reverse gear), as well as offering up to five miles of EV-only range. That may sound comically low, but considering just 30 miles of normal driving can fully top it back up, it's more useful than one might assume. If I was allowed more mileage for my press loan, I would've loved to run the battery down on the highway, firing up the engine until it was recharged, and repeating the process until the tank ran low. Its plug-in hybrid system is mainly there to up the thrills. After all, it's rated at 23 MPGe—12 combined without hybrid assistance. The latter barely beats its Aventador predecessor and means this thing carries a $4500 gas guzzler tax for not meeting minimum fuel efficiency standards. Not many PHEVs can claim that honor. That said, I was pleasantly surprised by how easy it was to come close to 23 MPGe. Over a generally traffic-free, 15-mile stretch of Los Angeles freeway with radar cruise control set to 75 mph, I was able to easily exceed 21 MPGe. Not only that, it prioritized EV propulsion for passing slower cars while the engine sat dormant at a very calm 2,000 rpm in eighth gear. Despite some significant road noise, this brutish supercar was rather relaxing on the highway. But exiting off and transitioning to twistier blacktop high up in California's San Gabriel Mountains, it quickly became anything but. As the Revuelto is Lamborghini's flagship V12 supercar, the specs are insane: its 6.5-liter naturally aspirated V12 screams to 9,500 rpm and produces 814 horsepower and 535 lb-ft of torque. The three motors contribute up to an additional 296 hp and 364 lb-ft, reaching a peak total output of 1,001 hp and 1,044 lb-ft of torque. You'd never know from behind the wheel that this thing weighs 4,290 pounds, as 0-60 mph happens in just 2.5 seconds, and 150 arrives in less than 10. If the main reason for hybridization is pure excitement, then I'm here for it. Launching off the line, you feel the motors punch down low as the V12 revs up, and once the tach needle reaches the midrange, all hell breaks loose in wonderful electron-flowing and fuel-burning harmony. The specs are insane The Revuelto doesn't hold back in its pursuit of filling the cabin, and several city blocks in either direction, with glorious V12 music. It's endlessly entertaining regardless of mode and RPM, even lightly cruising around between 3,000 and 4,500 RPM. I'd never been so content having a ringing in my ears as I did filling up its 22.5-gallon fuel tank twice in one weekend. The shove back in the seat while ripping off the line is truly something special, too. I've had the honor and privilege of driving some thrilling hardware during my tenure in automotive journalism, but this takes the cake for all-out savagery. Upshifts seamlessly continue the effort forth towards felony offenses, and once it's time to slow down, some light gearbox whine and sharp puck noises make for buttery smooth, GT3 race car-like downshifts. It's all intoxicating. The Bolognese brand didn't just make the Revuelto faster and optionally thriftier. Active aerodynamics sitting atop the rear deck to help it cut through the air 66 percent more efficiently, as well as bleed off speed. Carbon fiber and aluminum comprise its chassis and bodywork, making it 10 percent lighter and 25 percent more rigid than its predecessor. Combined with a mix of adaptive dampers and double-wishbone independent suspension, its rectangular battery pack mounted in what used to be called the transmission tunnel, all-wheel drive, plus its mid-engine layout, this thing is a monster at corners. Conveniently, switching between damper and motor settings, as well as drive modes, was quite easy as they're all done on the steering wheel. I've never been a big fan of complication here, but Lamborghini's method works great. This thing is a monster at corners The steering itself possessed decent weight under cornering and sufficient communication, tack-sharp front-end response, and above all, the perfect ratio for high-performance driving. It was so nice being far tilted back in the Lambo's sport seat (this was very necessary, as headroom is at a high premium for tall folks), hands at nine and three, and getting into a daze-like rhythm of carving corners at breathtaking speed. While power delivery was merciless, it was quite easy to tame with smooth inputs and thoughtful downshifts, which weren't as frequent as other exotic fare thanks to the engine's sky-high redline. The end result was reaching well-traveled mountain top landmarks in a shockingly short amount of time. All while experiencing an immensely good ride quality in either its stiffer or softer damper mode, too—a testament to how much engineering went into this beast's chassis dynamics. The 2025 Lamborghini Revuelto is unlike anything I'd ever driven before. I may not have fit very well inside, the seat back may have been designed for someone a foot shorter than me, but goddamn was it totally worth it. Not only was the sensation of a screaming, 6.5-liter V12 behind me something beautifully unique, but behind all the drama was a chassis tremendously potent in its grip and athleticism. Then, its unparalleled mix of 12-cylinder ferocity plus hybridization created a harmoniously hilarious good time. It even returned admirable fuel economy numbers for a supercar, if I wanted… but I mostly didn't, as its consumption proved to be one of the wisest financial investments ever. Photography by Peter Nelson / The Verge
New York Times
44 minutes ago
- New York Times
Sunderland set to sign Strasbourg's Habib Diarra in club-record transfer
Sunderland are set to sign midfielder Habib Diarra from Strasbourg in a club-record transfer. Sources, speaking on the basis of anonymity to protect relationships, say the fee will represent a record incoming for Sunderland and a club-high sale for Strasbourg. The 21-year-old has spent the entirety of his professional career at the Ligue 1 club, with whom he scored 10 goals across 99 first-team appearances. Advertisement The Senegal international, who scored in his nation's 3-1 friendly win over England earlier this month, is set to become Sunderland's most expensive ever signing after the £20m (€23.4m) arrival of Enzo Le Fee from Roma earlier this summer following a successful loan spell. The midfielder had also attracted from Sunderland's fellow newly-promoted rivals Leeds United, who The Athletic reported had lodged a bid of a bid of €26m (£22m) earlier in June. Diarra's arrival comes after Sunderland sold midfielder Jobe Bellingham to Borussia Dortmund in a deal worth up to €38m (£32m). Sunderland are back in the Premier League for the first time since 2017 having defeated Sheffield United in the promotion play-off final. (Sathire Kelpa/Eurasia)
Yahoo
an hour ago
- Yahoo
ICAEW four principles for evolution of reporting accountant role
The Institute of Chartered Accountants in England and Wales (ICAEW) has proposed four guiding principles for the future development of the reporting accountant's role. The chartered accountancy body released a new paper focusing on the evolving role of reporting accountants in initial public offerings (IPOs) and capital market transactions in the UK. It addresses the need for reporting accountant's independent assurance work to adapt to support economic growth and enhance the competitiveness of UK capital markets. The paper arrives amidst a shifting regulatory environment, which includes amendments to UK listing rules and prospectus requirements, as well as recent updates to the UK Corporate Governance Code and Financial Conduct Authority (FCA) guidance. These modifications aim to facilitate a smoother path for a broader range of high-growth potential companies to enter the public market, aligning with the government's ambition to make London a more 'attractive' listing destination. ICAEW chief policy and communications officer Iain Wright said: 'Independent assurance of company information is a cornerstone of trust in our capital markets. Reporting accountants play a fundamental role in maintaining investor confidence during IPOs and ensuring companies can meet their public obligations.' 'Now, more than ever, investors need reliable information to make informed decisions but as the capital markets landscape evolves so must the role of our members. We hope this paper will spark constructive discussions with our stakeholders so we can agree a proportionate approach.' 'Growth and economic stability are both built on foundations of investor confidence and changes must not erode this. Robust independent assurance and transparent reporting will remain a critical underpinning of this confidence and of the credibility of the UK markets overall.' The four guiding principles proposed for the future development of the reporting accountant's role are designed to ensure a holistic view of reporting accountants' work, establish a commitment to proportionate assurance processes, enhance consistency in pre- and post-IPO requirements, and improve the understanding of assurance and diligence during IPOs. The institute emphasises the importance of balancing risk appetite with due diligence, assurance, and other safeguards, advocating for a more adaptable and proportionate approach. However, the paper also cautions against diminishing the level of independent scrutiny, which could result in companies not being adequately prepared for the stringent reporting obligations of public entities. This unpreparedness could potentially lead to an increased likelihood of financial restatements and profit warnings post-IPO. Earlier in June 2025, ICAEW highlighted five significant alterations for taxpayers completing their Income Tax Self-Assessment (ITSA) for the tax year 2024/25. "ICAEW four principles for evolution of reporting accountant role" was originally created and published by The Accountant, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
