Latest news with #MichaelRoberts
The Independent
2 days ago
- Business
- The Independent
The Oyster cards affected by price increases
Transport for London (TfL) has increased the price of London 's Oyster cards for the first time in a decade, attributing the rises to increasing operational costs. The application fee for the 60+ London Oyster card has seen the largest increase, almost doubling from £20 to £35. Fees for the annual eligibility check and replacement 60+ photocards have also risen from £10 to £18, with increases also applied to various Zip photocards. From 7 September, the cost of new Oyster cards and Visitor Oyster cards will increase from £7 to £10. Michael Roberts, Chief Executive of London TravelWatch, criticised the increases, stating they are unwelcome news for Londoners facing the ongoing cost-of-living crisis.
Associated Press
2 days ago
- Business
- Associated Press
World Police Summit Panel Calls for Global Public-Private Alliance to Disrupt Modern Slavery and Human Trafficking
Dubai, United Arab Emirates, July 22, 2025 -- The 2025 World Police Summit hosted a robust panel discussion titled 'The Chains of Control: The Role of Public-Private Cooperation in Eradicating Modern Slavery and the Financial Systems that Fuel It.' With speakers from international law enforcement, finance, NGOs, and cyber investigation, the session highlighted urgent calls for faster collaboration, improved information sharing, and a rethink of existing regulatory frameworks to combat modern slavery. The session was moderated by cyber investigator Michael Roberts (Stingforce, Australia) and featured an esteemed panel: At the heart of the discussion was a shared frustration: organized crime networks move faster than those trying to stop them. Criminals benefit from their decentralized agility, while outdated protocols and siloed communication hinder law enforcement, financial institutions, and regulators. 'Law enforcement is often its own worst enemy,' said Mark Cass, advocating for unrestricted, real-time communication between investigators across borders and sectors. 'We don't need mutual legal assistance treaties just to pick up the phone.' Kevin Metcalf described the human toll of these procedural gaps. 'Every hour's delay could mean another dozen assaults,' he said, recounting how outdated systems, fear of liability, and resource shortages prevent timely rescues. Nina Vaaranen-Valkonen, drawing from a database of over 23,000 survivor responses, reinforced this, warning that online-facilitated abuse has become more harmful than offline exploitation due to scale, permanence, and access. Oonagh Van den Berg pulled back the curtain on the financial system's inefficiencies. 'We've overengineered regulation. Transaction monitoring systems are only 2–8% accurate, and the backlog can be as long as three months. By then, it's too late.' She emphasized the need for AI-driven real-time monitoring, stronger public-private trust, and the simplification of compliance processes. 'Fraud, AML, cybersecurity, and compliance are all working in silos, yet modern financial crime is a blend of all these.' A recurring theme was the need for indemnity protections for institutions that act in good faith to report suspicious activity. Cass pointed out that many banks fear lawsuits from criminal clients more than failing to report the crime itself. 'They're not protecting victims; they're protecting their liability,' he said. The panel shared stories of cross-border operations that saved victims and dismantled trafficking networks, only made possible by rapid information exchange. But they also warned of growing challenges. 'Technology has made every crime a global crime,' said Nina, urging legislation over voluntary reporting from tech platforms. Social media, encrypted messaging apps, and telecom carriers were called out as critical but absent stakeholders. 'We cannot win without Meta, WhatsApp, ISPs, and telecoms at the table,' said Roberts. Closing the session, panelists called for dismantling silos between sectors, disciplines, and jurisdictions. 'We need teams, not departments,' said Cass. 'And above all, we need communication.' The World Police Summit brings together global policing, intelligence, and investigative professionals to exchange expertise, forge collaboration, and shape the future of security and justice. Contact Info: Name: Oonagh van den Berg Email: Send Email Organization: AML Watcher Website: Release ID: 89163031 Should you identify any discrepancies, concerns, or inaccuracies in the content provided in this press release or require assistance with a press release takedown, we strongly urge you to notify us promptly by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our responsive team is committed to addressing your concerns within 8 hours by taking necessary actions to resolve identified issues diligently or guiding you through the necessary steps for removal. Our dedication lies in providing accurate and reliable information.
Time Out
4 days ago
- Business
- Time Out
The price of London's 60+, Zip and Student Oyster Cards is going up this week
We hate to be the bearers of bad news, but from tomorrow (Tuesday, July 22), the price of London's Oyster cards will go up for the first time in a decade. And the city's senior citizens are set to see the biggest increase. TfL has revealed that the price of the 60+ Oyster card will almost double from £20 to £35, while the cost of its annual eligibility check (needed if someone wants to retain their card) will increase from £10 to £18. If someone needs to replace their card, they'll also now have to pay £18 instead of the previous £10. As for the young 'uns, the Oyster Zip cards that provide half price tube travel and free bus journeys for kids, students, apprentices and care leavers, will all go up by £1. The replacement fee for those cards will also increase from £10 to £11. On top of all that, TfL has plans to increase the prices of new Oyster cards and Visitor Oyster cards from £7 to £10 in September. Freedom Passes are safe from the price hike, as they're managed by London Councils TfL said that the price hikes are necessary for helping it deal with wider financial constraints. It said that the huge hike for the 60+ card in particular is down to the fact that it has the 'biggest gap between the estimated revenue that we would receive were these journeys paid for, and the income we receive through fee'. Alex Williams, chief customer and strategy officer at TfL, said: 'We are fully committed to keeping travel in London affordable and accessible to everyone. 'Our fees for photocards haven't increased in 10 years, and these changes will mean that we can continue to provide these concessions while ensuring that the fees better reflect our costs for operating the schemes.' Of course, the news isn't going to be music to Londoners' ears. Michael Roberts, chief executive of London TravelWatch, said: 'Higher TfL photocard fees, especially for the over-60s, will be unwelcome news to Londoners who continue to feel the pinch of the ongoing cost of living crisis and some of the most expensive public transport fares in Europe. 'Annual index-linked increases might in future avoid big hikes in fees, but it's disappointing that more isn't being done to soften the blow this year for 60+ card holders on lower incomes. Londoners will be wondering what further unpleasant revenue-raising surprises TfL might have in store over the coming months.' London Oyster card price increases
The South African
01-07-2025
- Entertainment
- The South African
Hollywoodbets Durban July: Updated ODDS after key scratching
We are now just days away from the 129th edition of Africa's greatest horse race, the Hollywoodbets Durban July to be held on Saturday, 5 July. The R5 million Grade 1 race at Hollywoodbets Greyville over 2 200m will go off at 16:00. RELATED | Every previous Hollywoodbets Durban July winner since 1897 The race was rocked by a late scratching on Tuesday morning when Michael Roberts's See It Again was withdrawn due to an abnormal blood count. See It Again was the joint fifth favourite at 16/1. First reserve runner, Litigation, from the Sean Tarry yard will take the place of See It Again and will jump from gate 15. Litigation will be ridden by Grant van Niekerk. Horse Draw Odds Eight on Eighteen 11 14/10 Oriental Charm 1 7/1 Immediate Edge 10 7/1 The Real Prince 5 25/2 On My Honour 3 14/1 Selukwe 6 16/1 Gladatorian 16 16/1 Madison Valley 2 20/1 Royal Victory 17 25/1 Atticus Finch 4 33/1 Pomodoro's Jet 8 33/1 My Best Shot 9 33/1 Okavango 13 33/1 Confederate 14 33/1 Litigation 15 33/1 Purple Pitcher 12 40/1 Native Ruler 18 50/1 Rainbow Lorikeet 7 66/1 Reserve runner Son Of Raj SP Odds correct as at the time of publishing Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
Business Times
16-05-2025
- Business
- Business Times
HSBC revamps financing, advisory to help private credit push
[LONDON] HSBC Holdings is reorganising its capital markets and corporate advisory units into a new business as part of a plan aimed at helping Europe's biggest bank grab a larger share of the booming private credit industry. The London-based lender said in a statement on Friday (May 16) that it was creating a new Capital Markets and Advisory group to house all of its disparate worldwide financing and investment banking activities under a single management structure, confirming an earlier Bloomberg News report. 'This is a model for the future, where we can best serve our clients and capitalise on the growth opportunities ahead,' said Michael Roberts, chief executive of corporate and institutional banking at HSBC. HSBC is among lenders seeking to step up offerings in private credit, a US$1.6 trillion global asset class that is luring more and more players as demand rises from borrowers seeking safer options amid the chaos set off by the Trump administration's trade policies. Among attractions is higher management fees. Rival Standard Chartered said on Thursday that it would be hiring about 25 bankers for a new private markets-focused team, estimating that the sector's assets under management will reach nearly US$20 trillion by 2029. Under HSBC's new set-up, the bank's financing solutions units, which includes its debt capital markets, leveraged and acquisition finance, and private credit operations, will sit alongside its corporate finance and strategic advisory businesses. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Adam Bagshaw, global head of investment banking, will take charge of CMA with a mandate to grow the lender's private credit business, as well as consolidating its position as one of the leading finance businesses in Asia and the Middle East. The latest round of restructuring comes on the back of a sweeping overhaul announced late last year by chief executive officer Georges Elhedery shortly after he took the top role. The previous move, involving commercial and investment banking units, saw the shuttering of the lender's mergers and acquisition and equity underwriting operations in the US, UK and continental Europe and the exit of several senior executives. HSBC is looking to save about US$1.5 billion in efficiency costs from those changes. The reorganisation of the capital markets and advisory businesses marks one of the final steps in the restructuring Elhedery kicked off and sets the stage for potential hiring once things have settled down, according to a person familiar with the matter. Any hiring would likely focus on private credit, as well as the Middle East and Asia, which are set to benefit from the redeployment of people and resources in the wake of the closure of some of HSBC's operations. Ian Dorrington, global head of leveraged and acquisition finance at HSBC, will spearhead the private credit push, another person familiar with the situation said. New York-based Dorrington joined HSBC in 2023 from Deutsche Bank where he had been co-head of its US leveraged finance business. BLOOMBERG
