UK advertising exports hit £6.9bn in 2017 as global standing grows March 19, 2019 International trade in UK advertising services reached £6.9bn in 2017 as the sector’s global standing continues to grow, a new report has revealed. Advertising exports increased 18 per cent compared to 2016 and outpaced overall UK service exports, which grew seven per cent, according to figures from the Advertising Association. Read more: UK digital advertising [...]
Tory MP Johnny Mercer dismisses alleged ties to London Capital & Finance as ‘smear’ by rivals April 24, 2019 Tory MP Johnny Mercer has hit back at allegations he was involved in collapsed firm London Capital and Finance (LCF), claiming they are part of a "co-ordinated attempt" to go after him. Mercer, who is thought to want to run for Tory leader, has been under scrutiny for his non-executive director role at the Crucial Academy, for [...]
Competition watchdog launches review of audit sector October 9, 2018 The competition watchdog today confirmed it has launched a probe into the UK's audit sector, ending weeks of speculation. The Competition and Markets Authority (CMA) said it will review whether the sector is competitive and resilient enough to maintain high standards. Calls to review the sector and possibly break up the "Big Four" of PwC, KPMG, Deloitte and EY [...]
Ban auditors from immediately selling new services to outgoing clients, says sector body November 6, 2018 Accountancy firms should be banned from immediately selling other services to lapsing audit clients, an industry body has said. The Association of Chartered Certified Accountants (ACCA) has told regulators they should consider introducing a “cooling off” period of two years, in which auditors are banned from the lucrative practice of selling additional products to firms [...]
No gas boilers in new British homes after 2025, chancellor pledges March 13, 2019 New British homes will soon be built without gas boilers as the government tries to tackle emissions. The new future homes standard will ban fossil fuel heating systems in all new houses from 2025, the chancellor said today. Read more: Spring Statement: UK slashes 2019 growth forecast The measure will help homes reach “world-leading levels [...]
Competition watchdog investigates British Airways’ transatlantic flight agreement October 11, 2018 An investigation into British Airways’ revenue-sharing partnership on transatlantic flights is underway, a watchdog announced today. The decade-old Atlantic Joint Business Agreement sees BA, American Airlines, Iberia and Finnair split revenue on all passenger routes between Europe and the US. Read more: Moody's: BA and Easyjet among airlines 'most exposed to a no-deal Brexit' The European [...]
Audit watchdog should be scrapped ‘as swiftly as possible’ says Legal & General chair January 23, 2019 The government should act “as swiftly as possible” to abolish and replace the UK’s audit watchdog, MPs were told today. Sir John Kingman, who chaired a review into the operation of the Financial Reporting Council (FRC), said the regulator’s senior leadership should be overhauled in the meantime. “I would like to see the government get [...]
Celebrity marketing fees fall by two-thirds in two years amid shift to micro-influencers February 20, 2019 The amount of money marketers are willing to splurge on high-profile celebrity influencers has plunged by two-thirds over the last two years, a new survey has revealed. Data published by Rakuten Marketing shows UK marketers are willing to fork out £25,000 for a single post by a Facebook influencer, down from £75,000 in 2017. Read [...]
Rupert Murdoch’s 21st Century Fox takeover of Sky would be against the public interest, says Competition and Markets Authority (CMA) January 23, 2018 An initial report from the competition watchdog has found the merger of Fox and Sky in its current form would result in the Murdoch family and too much influence over public opinion and news providers in the UK. Rupert Murdoch’s 21st Century Fox plans to take control of the 61 per cent of shares it [...]
Grant Thornton breaks ranks with call for independent audit appointment body, as BDO backs market caps November 13, 2018 Grant Thornton, the UK’s fifth-largest audit firm, has broken ranks with other mid-tier accountants by calling for the introduction of an independent body to appoint auditors to top listed firms. The firm told the competition watchdog that caps on market share would not work, putting it at odds with close competitors such as BDO, which [...]