Arsenal, Chelsea, Tottenham and West Ham make London home to more big clubs than all of Spain or Germany January 19, 2017 London’s claim to being football’s leading city has been lent further weight after four its clubs – more than in all of Spain or Germany – ranked among the 20 richest in the world. Arsenal, Chelsea, Tottenham Hotspur and West Ham United all feature in Deloitte’s Football Money League, which is published today and orders [...]
China’s European spending spree undeterred by UK’s Brexit vote November 22, 2016 Chinese deal activity in the UK has not been slowed by the Brexit vote and the appetite for European takeovers in general is likely to increase, according to a new report. So far this year, China and Hong Kong-based dealmakers have completed 170 acquisitions in Europe, according to a Deloitte analysis. Meanwhile, in the opposite direction, there have [...]
Plans for £4bn restoration of parliament need further challenging and testing before green light is given, says Treasury Committee March 17, 2017 It would be "imprudent" for MPs to commit to the restoration of parliament that could cost up to £4bn, without more work being carried out into "the hugely expensive project", the Treasury Select Committee warned today. The Committee has launched an inquiry into the project which will cost between £3.5bn and £4bn, if carried out over [...]
Behind the deal: Biggest IPO of 2017 so far is another triumph for boutique investment bank Zeus February 14, 2017 Actuarial and consulting firm Xafinity today announced plans for the biggest UK float of 2017 so far. Weighing in at £190m, the first premium main market listing of the year marks another triumph for boutique investment bank Zeus Capital, which acted as financial adviser, bookrunner and sole broker. Skiing, mountain biking and initial public offerings Read [...]
Ditched auditor brought back to investigate Tesco Bank hack January 11, 2017 Tesco has turned to its former auditor, which it axed after more than 30 years in the wake of a profit blackhole, to investigate a cyber attack on its bank. PwC was brought in by Tesco Bank to investigate an attack in November which forced it to repay £2.5m to customers who had been targeted by [...]
Fintech unicorn Powa Technologies calls in administrators as Deloitte formally appointed February 19, 2016 Powa Technologies, one of the UK's only $1bn-plus technology "unicorns", has appointed Deloitte to oversee its potential administration. Hundreds of jobs would be threatened as the company sinks into administration, which could take place as early as this afternoon, City A.M. understands. While Deloitte has been formally appointed, it does remain possible Powa could make a last-ditch rescue attempt. Powa, based [...]
EMBARGOED UNTIL MIDNIGHT: Deloitte European CFO Survey: Politics dominates business worries, 68% of European CFOs say there is a high level of financial and economic uncertainty facing their business May 10, 2016 NULL
Sadiq Khan announces business representatives for 40,000 job Royal Docks development December 22, 2016 Mayor of London Sadiq Khan has unveiled the strategy leaders for a major business enterprise zone in east London’s Royal Docks. Business representatives will include executives from Deloitte and Land Securities in the Royal Docks Enterprise Zone as part of the London Economic Action Partnership (LEAP). The development is planned to create 40,000 jobs and [...]
Growth in revenues is good but it’s even better if you look more carefully, says KPMG boss December 16, 2016 KPMG said its annual results proved it had moved beyond simply being a Big Four beancounter as it joined competitors in smashing through the £2bn revenue barrier. The UK arm, based in Canary Wharf, is the last to announce its annual return, reporting performance for the 12 months to the end of September. EY's UK business reported revenues [...]
Manchester United finances: Plunge in value of pound post-Brexit sees club’s debt hit record levels February 9, 2017 Manchester United blamed the post-Brexit weak pound for a large increase in the club's debt, revealed in the club's second quarter accounts. The richest club in the world's net debt increased by £87.2m last year – just shy of the £89m the club paid for midfielder Paul Pogba in the summer – to £409.3m by [...]