London First: Give more powers to City Hall to fund TfL May 28, 2020 Business group London First has this morning called on the government to devolve further powers to the Greater London Assembly in order to secure the long-term finances of Transport for London (TfL). In a new report produced in partnership with KPMG, the group argues that unless City Hall is given access to tax revenues via [...]
Government unveils pandemic support package for struggling tech firms June 9, 2020 International trade secretary Liz Truss will on Wednesday unveil a package of measures designed to help bolster the UK’s tech community, as businesses continue to struggle during the coronavirus pandemic. Jointly supported by the Department for International Trade (DIT) and the Department for Digital, Culture, Media and Sport (DCMS), the measures are aimed at helping [...]
UK unemployment: Experts say job losses to jump as furlough ends September 15, 2020 UK unemployment has finally started rising. Months of economic hardship and the winding down of the furlough scheme meant 695,000 people lost their jobs between March and August, according to payroll data. The Office for National Statistics (ONS) said the unemployment rate rose to 4.1 per cent in the three months to July. That was [...]
Snakes and Ladders: Who is moving jobs in the City this week? November 11, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. Read more: Snakes [...]
Investors splash the cash on British fintech startups February 24, 2020 Global investors poured money into the UK’s fintech sector last year, almost doubling the amount invested here between 2018 and 2019 — despite the rest of the world suffering a slight downturn in funding. British fintech companies attracted $48.5bn (£37.4bn) of investment in 2019, up 91 per cent from $25.4bn a year earlier. Data released [...]
Grant Thornton set for scrutiny as Patisserie Valerie handed to liquidators September 5, 2019 Embattled auditor Grant Thornton is set to face renewed scrutiny as Patisserie Valerie’s liquidators prepare to pursue claims against third parties connected to a multi-million pound hole in the cafe chain’s finances. Administrators KPMG will pass the case on to FRP Advisory later this month. Read more: Patisserie Valerie appoints administrators for Grant Thornton probe [...]
Thomas Cook liquidators secure bids for valuable airport slots October 16, 2019 The liquidators of collapsed airline Thomas Cook are said to have secured bids from some of the UK’s largest carriers after kicking off an auction of dozens of UK airport slots. KPMG set a deadline of 5pm today for bids for the take-off and landing slots as part of an auction that could raise tens [...]
Jobs paying below ‘real living wage’ fall to seven-year low November 4, 2019 The proportion of jobs that pay below the so-called real living wage has fallen to a seven-year low, analysis by professional services firm KPMG showed today. Read more: Sajid Javid promises to increase national living wage to £10.50 This year, 19 per cent of UK jobs paid below the voluntary rate of £9.00 per hour [...]
Coronavirus: British companies rush to mothball results after City watchdog calls for delay March 23, 2020 British companies are rushing to delay the publication of their results following an unprecedented call from the financial regulator for results to be suspended due to the coronavirus crisis. The Financial Conduct Authority (FCA) said late on Saturday that listed firms planning to report preliminary results in the next few days should mothball them for [...]
Domestic abuse costs UK businesses £316m a year November 25, 2019 Domestic abuse against women costs UK businesses a total of £316m a year, according to a new study by KPMG for Vodafone. The new research suggests that per woman, the potential loss of earnings as a result of the negative impact domestic abuse can have on career progression could be as much as £5,800. Read [...]