Spike in PwC partners taking early retirement amid Big Four slowdown Big Four A larger-than-usual number of partners at PwC are choosing to step down at the end of this year, as the Big Four accountant looks to boost its performance amid slowing growth. The financial services giant’s 1,030 partners learned earlier this week that several dozen of their colleagues would be taking early retirement, after new UK [...]
Investment bank Cavendish to open Manchester office after signing Gary Neville deal Banking Investment bank Cavendish, which was formed through the £43m merger of Cenkos and Finncap last September, has revealed plans to expand into Manchester for the first time. The City of London investment bank has appointed Oliver Tebbutt as partner to lead the office. Tebbutt was previously a partner at Deloitte’s corporate finance team in Manchester. Cavendish will [...]
Deloitte to cut more UK advisory roles after slashing hundreds last month Big Four Big Four firm Deloitte is set to cut even more job roles across its UK advisory divisions, less than a month after it axed 250 roles in the same department
Huge debts revealed at firm backed by Money Saving Expert’s Martin Lewis November 13, 2024 A company backed by Money Saving Expert’s Martin Lewis has crashed into liquidation owing almost £8m. Documents filed with Companies House have confirmed that London-based Magway recently appointed Gateway as its voluntary liquidator. According to the statement of affairs document, the firm had an estimated total deficiency to its members of over £7.7m. Among its [...]
How the accounting watchdog is looking to unleash the City November 11, 2024 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 [...]
Wood Group shares slump as it launches write-offs review November 7, 2024 Wood Group shares nosedived 55 per cent today after the engineering firm unveiled a Deloitte-led review of its operations, sparking investor concern. The review, launched in response to recent large-scale project write-offs, will assess the firm’s contract accounting and governance. It may also potentially lead to financial restatements. The review was announced alongside a trading [...]
Employers wake up! Your staff are already using AI in the office November 4, 2024 Employees are outpacing their own employers when it comes to using AI. It's time for companies to catch up, writes Lorraine Barnes.
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
Deloitte cuts 250 underperforming staff in UK October 23, 2024 Big Four firm Deloitte has cut 250 members of staff in the UK, as the firm embarks on yet another round of redundancies amidst profits stalling
Government pledge to make UK “top destination for women’s sport investment” October 23, 2024 The government has today pledged to make the United Kingdom a “top destination for women’s sport investment”. Investment minister Poppy Gustafsson, formerly of Darktrace, has launched the Women’s Sport Investment Accelerator scheme to bring together 20 leagues and teams with investors to boost commercial activity in women’s sport. The participating sports include football, cricket, rugby, [...]