Death of a unicorn: Inside one of the biggest startup failures of all time – and Powa Technologies boss Dan Wagner’s surprise statement April 18, 2016 Powa Technologies, once valued at more than $1bn making it one of Britain's rare breed of so-called unicorns, collapsed into tech myth earlier this year. In fact, it was one of the most well funded startups in the world to ever fail, according to tech data gurus at CB Insights, after raising multi-millions of pounds worth [...]
City Moves for 8 April 2016 | Who’s switching jobs April 8, 2016 Acadian Asset Management Acadian Asset Management (UK) the London based subsidiary of Acadian Asset Management LLC, the specialist quantitative active global equity investor headquartered in Boston, has announced the appointment of Ian Shea as director of Middle East sales and client service. Ian will be based in Acadian’s London office, and joins Acadian from bfinance, [...]
London’s Got Talent: London storms ahead of global rivals for attracting top business talent March 2, 2016 London is the most talented city in the world, with a survey showing that there are more highly-skilled people in the UK capital than in any other global rival. It surged ahead of rivals with a 16 per cent rise in high skilled workers in the past three years. London is now "in a league [...]
Watchdog issues new rules ahead of auditor merry-go-round April 27, 2016 The accountancy watchdog has today issued its final draft of guidance for auditors ahead of a significant piece of EU legislation coming into force this summer. The final drafts of updates to the Financial Reporting Council's (FRC) UK Corporate Governance Code, Guidance on Audit Committees, and Auditing and Ethical Standards are designed to better secure the independence [...]
What you need to know about passporting June 27, 2016 Passporting, something previously little heard of by those outside the financial services industry, seems to have been a big source of panic post-Brexit vote. Sadiq Khan told City A.M. over the weekend that a loss of the provisions would be "a disaster", while London-headquartered HSBC warned back in February that it would consider moving as many as 1,000 [...]
Retailers rocked by sales shocker May 6, 2016 The high street has suffered its sharpest drop in sales since the credit crunch as retailers battle erratic weather, increasing competition from online rivals and jittery consumer confidence. Like-for-like sales fell by 6.1 per cent in April compared with the same month last year, according to BDO’s latest monthly tracker, published this morning. The accountancy [...]
Deloitte and its partner reduce fines in MG case April 13, 2015 THE FINANCIAL Reporting Council (FRC) reduced sanctions on accountancy firm Deloitte and its former partner Maghsoud Einollahi yesterday after the duo’s successful appeal regarding the collapse of MG Rover in 2005. An appeal hearing in January overturned eight of the FRC tribunal’s 13 findings of misconduct and disregarding public interest from 2013. Upon review of the appeal, [...]
Over 70m tickets sold to UK sport events in 2015 thanks to Rugby World Cup boost December 16, 2015 More than 70m tickets to sports events in the UK were sold in 2015, representing a five per cent increase on last year, according to research from Deloitte's Sports Business Group. Only in 2012, when 75m tickets were sold as London hosted the Olympic Games, has the UK recorded higher sports attendances in a calendar [...]
Japanese M&A deals in the UK hit $9.5bn last year, boosted by Nikkei’s purchase of the Financial Times February 16, 2016 Nikkei's purchase of the Financial Times helped Japanese acquisitions in the UK reach $9.5bn (£6.6bn) last year, according to new analysis from Deloitte. The figure is the highest level this century and dwarfs the $0.67bn in Japanese UK deals recorded for 2014, the accountancy firm's research shows. Nikkei, Japan's largest media company, announced last July [...]
Top 20 richest football clubs in the world: Manchester United poised to reclaim top spot but Real Madrid stay No1 for now January 21, 2016 Manchester United are poised to reclaim the title of the world’s richest club – a status enjoyed by Real Madrid for the past 11 seasons – despite their turbulent recent on-field fortunes. United have fallen one place to third in the latest Deloitte Football Money League – the annual ranking of the world’s top revenue-generating [...]