Ollie Phillips: All to play for at the halfway point of a tight and unpredictable Premiership season January 3, 2019 Saracens and Exeter may be streets ahead at the top of the Premiership, but at the halfway stage of the season every other position is up for grabs. Although I’m backing last year’s finalists to repeat the trick, there’s plenty of intrigue elsewhere to keep us guessing until May. There is very little consistency in [...]
Bank of England downgrades UK second quarter growth to zero as Brexit looms August 1, 2019 The Bank of England said UK growth ground to a standstill in the second quarter of the year due to the unwinding of Brexit stockpiling and car plant shutdowns as it chose to leave interest rates unchanged at 0.75 per cent today. In its latest gauge of the economy, released today, Threadneedle Street downgraded its [...]
Ollie Phillips: Scrapping relegation could help Premiership balance the books after CVC Capital Partners’ investment January 10, 2019 Debate about the possible scrapping of relegation from the Premiership is not new, but following the recent investment into the division it has been given new impetus. Private equity firm CVC Capital Partners’ deal last month to inject £200m for around 27 per cent of Premiership Rugby is significant because it changes the league’s objectives. [...]
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 [...]
High-profile failures have eroded trust in audit sector, says watchdog October 8, 2018 The UK’s audit watchdog has announced a new strategic plan to address “falling trust in business and the effectiveness of audit”, after a series of scandals in the sector. The Financial Reporting Council (FRC) released its ‘Developments in Audit’ report today, raising concerns over public trust in the profession, and constricted competition at the top [...]
Auditors face fresh headache as shareholder adviser eyes industry October 18, 2018 The world’s largest adviser to shareholders is to ramp up its scrutiny of auditors, in a move that will pile further pressure on the UK’s embattled beancounters amid a series of industry controversies. Auditors will be facing another headache at their shareholder meetings next year after the Institutional Shareholder Services (ISS) today unveiled plans to [...]
Eurozone growth falls to slowest pace in four years as Italy’s economy stalls October 30, 2018 Eurozone growth rose by just 0.2 per cent in the third quarter – its slowest pace in more than four years hampered by Italy's economy stalling. Italy's GDP growth fell to zero and the bloc rose by 0.2 per cent compared with the previous quarter despite forecasts it would jump 0.4 per cent. The slow growth [...]
Audit sector faces huge shake-up as new reports make radical recommendations December 18, 2018 The stage has been set for a radical shake-up of the UK’s audit sector, following the release of two highly-anticipated reports. Britain’s audit watchdog, the Financial Reporting Council (FRC), should be scrapped and replaced with a new statutory body, Sir John Kingman’s review of the Financial Reporting Council (FRC) has said. Meanwhile, the Competition and Markets [...]
London developer Galliard invests £500m in new Birmingham homes October 15, 2018 London property developer Galliard has embarked on a £500m joint venture project in Birmingham amid efforts to expand beyond the capital’s subdued housing market. In its first Midlands project, Galliard has purchased a portfolio of new developments in partnership with regional developer Apsley House Capital, in a bid to tap into Birmingham’s growing popularity among young couples and first-time buyers. [...]
Bank of England’s monetary policy committee keeps interest rates unchanged November 1, 2018 The Bank of England's monetary policy committee has decided to keep interest rates unchanged as expected. The rate-setting committee, which raised rates to 0.75 per cent in August, unanimously voted to hold its monetary policy following a meeting on Thursday, meeting the predictions of economists. The MPC signalled that an "ongoing tightening of monetary policy" may be [...]