PwC pays largest ever uncontested fine to Financial Reporting Council over Cattles audit sign-off August 31, 2016 The Financial Reporting Council (FRC) today fined PwC £2.3m in relation to the 2007 audit of failed sub-prime lender Cattles. The fines are the highest ever imposed by the FRC for an uncontested disciplinary hearing and only surpassed by the £3m of penalties accepted on appeal by Deloitte in connection with the failure of MG Rover. Total fines of £3.5m were reduced [...]
Fewer FTSE 250 executives took a pay rise this year but bonuses are still 120 per cent of salary according to Deloitte report November 13, 2015 FTSE 250 “are once again demonstrating restraint” in their salary awards, in response to investor pressure. This year 38 per cent of chief executives and 29 per cent of executive directors received no pay rise, up from last year when 30 per cent and 27 per cent respectively had no salary increase, according to a Deloittereport, [...]
City law firm brought in to look into former BHS directors August 11, 2016 City law firm Jones Day has been appointed to look into the conduct of the former directors of BHS. According to Sky News, the firm has been hired by FRP Advisory – the second administrator drafted in to handle BHS. Read more: Here's how much Sir Philip Green's BHS pension bill has risen due to Brexit [...]
M&A activity into the UK fell by 42 per cent at the start of the year, but was up over 100 per cent for the rest of Europe June 13, 2016 The first quarter of 2016 was pretty bad for inbound UK merger and acquisition (M&A) activity. Deal values decreased by 42 per cent from $51.4bn (£36.1bn) in the first three months of 2015 to $30bn in the same period this year, according to analysis from Deloitte. During the same period in the rest of Europe, M&A investment increased from $35.6bn [...]
Sir Philip Green is now the fourth richest man in the UK after the death of the Duke of Westminster August 10, 2016 Sir Philip Green is now the fourth richest person in the UK after the death of billionaire landowner Gerald Cavendish Grosvenor, the former Duke of Westminster. The duke was the UK's third richest person until he died last night at the age of 64. His fortune was estimated at £8.3bn by Forbes magazine. Read more: Holiday like [...]
How to get a job at Deloitte: It doesn’t care which university you went to September 30, 2015 If you're a school leaver who missed out on getting a place at Oxbridge, worry not – for accountancy giant Deloitte has become the latest City institution to say that as long as your qualifications are ok, it doesn't care which university you went to. The company said it wants to rid its halls of [...]
How UK media companies are surviving digital disruption June 7, 2016 The UK’s media and entertainment sector is in “rude health”, with revenues up 21 per cent since 2011, despite digital disruption. Deloitte’s Media Metrics 2016 report looked at the 100 largest UK companies in the area, finding a total turnover of £87bn in the firms’ latest accounts. Deloitte predicts this number, based on 2014 or [...]
How M&A buyers are taking a “watch and wait” approach to UK acquisitions ahead of EU referendum May 17, 2016 Another day, another M&A report, another conclusion relating to the EU referendum. Buyers are taking a “watch and wait” approach to UK acquisitions before the EU referendum next month, according to Deloitte. Global M&A activity has slumped so far in 2016 following a record-breaking 2015, in which more than $5 trillion worth of deals were announced. [...]
Deloitte helps graduates on its scheme with East Village flats in London September 10, 2015 Deloitte, one of the Big Four accountancy firms, is helping its new graduate intake navigate London's housing crisis by reserving more than 40 flats in the former Olympic Athletes’ Village. The firm has joined forces with Get Living London, owner and manager of privately rented homes at what's now the trendy East Village, to help junior staff [...]
City Moves for 4 October 2016 | Who’s switching jobs October 4, 2016 Edison Edison, an investor relations and investment research company, has hired Elliott Berstock to the role of account manager in the investor relations team. Elliott brings to Edison more than 10 years’ capital markets experience in the investment industry, joining from Capital Access Group, where he held the positions of associate director of investor relations and [...]