Hospitality firms are bracing for the return of inflation hospitality October’s inflation figure has worried hospitality firms. While it is not too far above target – 2.3 per cent versus the sweet spot of two per cent – and one month does not constitute a trend, it has exacerbated concerns companies already had about the future of their industry. There are two reasons hospitality is [...]
Typhoo Tea: Jobs at risk as historic brand nears collapse Retail More than 100 jobs are at risk after it emerged that Typhoo Tea is on the verge of collapsing into administration. The Bristol-headquartered business, which can trace its roots back over a century, is lining up EY to oversee the process after filing a a notice of intention to appoint administrators. In an interview with [...]
How the accounting watchdog is looking to unleash the City News As Richard Moriarty gripped the sides of a podium and spoke freely from a sheet of bullet points at the London Stock Exchange in September, a warmth was stirring among certain City executives in the room. The tie-less career regulator, boss of the audit watchdog, the Financial Reporting Council, laid out his plans to shake [...]
FCA could spend £20m on car loan probe after shock court ruling November 7, 2024 The Financial Conduct Authority (FCA) could splash £20m on the first stage of its review into car loan commissions, City AM can reveal, reflecting the scale of a scandal that may see lenders forced to pay billions of pounds in compensation.
Calls for audit reform grow after ISG found to owe £1bn November 3, 2024 Construction giant ISG collapsed with debts over a billion pounds, newly published filings have shown, prompting fresh calls for audit reform. ISG, which specialised in delivering government contracts projects like London’s velodrome, went bust in September after attempts to secure a rescue deal failed. The demise of ISG was the largest and most significant collapse [...]
Business will be looking at where taxes are going, not just where they are October 29, 2024 Tomorrow’s Budget announcements will capture immediate attention, but it’s the tax roadmap that could have the most enduring impact, says Chris Sanger The government’s decision to publish a corporate tax roadmap in this week’s Budget is intended to strengthen the UK’s economic foundations and attractiveness as a destination for capital. This move comes at a [...]
Why businesses are nervous ahead of the Budget October 28, 2024 Businesses are wary as Chancellor Rachel Reeves puts the final touches to her first Budget.
EY right: Is multitasking really unethical? October 28, 2024 Firing staff for watching multiple training videos at the same time raises questions about the accountancy firm’s corporate culture, says Eliot Wilson Internal disciplinary procedures in the US arm of one of the “Big Four” accounting firms may not seem like headline news. Last week, however, The Financial Times reported that Ernst and Young (now [...]
A mixed bag for EY UK: Revenue growth meets flat fee income and declining profits October 25, 2024 EY UK net revenues grew by single-digit percentage over 2024, while fee income remained flat, due to a reduction in large cross border transactions
The Capitalist: Paddington Bear’s politics, buildings with phallic names and RIP the pumpkin spice latte October 24, 2024 Corporate echo chambers, controversial buildings with phallic names, Paddington Bear’s true political persuasions and the end of the pumpkin spice latte? Catch up on the latest City gossip in this week’s edition of The Capitalist WORKING SMARTER NOT HARDER We’ve all been there; you’ve got work to do but two hours of your diary are booked [...]