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ATO Alleges Adgemis Companies Claimed $1B in Fake Expenses, Pocketed $78M in GST Refunds
ATO alleges Adgemis-linked JAGA Group Constructions claimed $1.05 billion in fake expenses and received $78 million in GST refunds. His CFO has accused him of knowingly using dodgy tax claims.
ATO Alleges Adgemis Companies Claimed $1B in Fake Expenses, Pocketed $78M in GST Refunds
ATO alleges Jon Adgemis’ JAGA Group Constructions claimed $1.05 billion in fake expenses and received $78 million in GST refunds between March 2021 and July 2024 during Federal Court examination.
Goodwin Mulls Sale of Defence Engineering Division Supplying Submarine and Warship Components
On August 7, 2026, British engineering company Goodwin confirmed it is reviewing options for its defence engineering division, including the possible sale of a substantial part of the business. The division supplies critical components for UK and U.S. submarines and warships, making the announcement one of the most closely watched developments in the defence sector….
Holidays Disrupted as 11 UK Travel Companies Collapse in Recent Months
UK travel firms have collapsed at an alarming rate in 2026. Since January, 11 operators have entered liquidation or ceased trading, according to industry reports. The wave spans coach tours, cruise specialists, and flight-and-hotel package providers. Thousands of holidaymakers now face cancelled trips and refund battles, while the sector confronts its sharpest instability in years….
Formula 1 Returns to Malaysia: Sepang to Host Bahrain Grand Prix Oct 2-4, 2026
Formula 1 returns to Malaysia after 9 years. Sepang will host the 2026 Bahrain Grand Prix Oct 2-4. Bahrain covers USD 70-80M hosting fee; Malaysia spends RM40M on upgrades. Hotels and tourism expected to benefit.
Chiikawa Artiverse Sparks Hong Kong Summer With LED Octopus Cards, Light Rail Train
Chiikawa Artiverse exhibition launches August 1 in Hong Kong with LED Octopus cards at HK$158, themed Light Rail train, and McDonald’s tie-up. Preorders open July 28.
HSBC (LSE: HSBA) to Sell Singapore Insurance Unit for £1.6B, Signs 15-Year Allianz Partnership
HSBC agreed to sell its Singapore life and health insurance business to Allianz on July 24, 2026. The deal values HSBC Life Singapore at S$2.7 billion, or roughly £1.6 billion. It will also enter a 15-year exclusive bancassurance partnership with the German insurer. The transaction generates a pre-tax gain of $1.8 billion and lifts HSBC’s…
Barclays Plc Trading Chief Pushes Team to Close Gap With Wall Street
Wall Street banks continue to widen their lead in global trading, increasing the pressure on European competitors. On July 24, 2026, reports said Barclays Plc’s trading chief asked staff to narrow the performance gap with major U.S. banks after another strong quarter for the industry. Higher market volatility, steady deal activity, and strong client demand…
UK to Cut Business Rates by 20% for Pubs, Clubs, and Music Venues From April 2027
The UK will cut business rates by 20% for pubs, clubs, and live music venues starting April 2027. Downing Street confirmed the policy on July 23, 2026, under Prime Minister Andy Burnham. Nearly 32,000 hospitality businesses across England will benefit from the discount. A typical pub is expected to save approximately £1,100 in the first…