Deloitte’s bid to overturn MG Rover collapse tribunal findings succeeds January 30, 2015 Deloitte looks certain to reduce a record £14m fine after succeeding in its appeal to overturn several findings of a tribunal by the accounting watchdog over its role in the collapse of MG Rover. An independent tribunal for the Financial Reporting Council (FRC) today overturned eight of the 13 findings from the original tribunal which took [...]
Finance executives feel UK business outlook is bleak, and confidence is low across Europe in general November 16, 2015 More than a quarter (29 per cent) of UK chief financial officers (CFOs) feel less optimistic about the financial prospects of their business than they did three months ago, according to a Deloitte report released today. Of the UK CFOs questioned for Deloitte’s latest European CFO Survey, which surveyed a total of 1,298 CFOs across [...]
What to expect from Sir Philip Green’s appearance before MPs tomorrow June 14, 2016 The day is almost here… Sir Philip Green himself will (probably) make his appearance in front of MPs tomorrow to explain his part in the sale of BHS. So far there have been allegations of death threats, tantrums, and dramatic confrontations in hotel lobbies. As David Buik, market commentator for Panmure Gordan & Company, put it: "Wednesday’s testimony [...]
Business confidence dips as the City braces itself for a challenging 2016 January 4, 2016 The City is bracing itself for a tough 2016, with data out today showing that business confidence has taken a knock and finance chiefs are approaching the new year with caution. Lloyds Bank’s business confidence index – a gauge of expected sales, orders and profits – declined to a score of 38 per cent this [...]
General Election 2015: Deloitte chief executive David Sproul wants a pro-business leader who will invest in infrastructure May 6, 2015 Election countdown: 1 day to go Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party. David Sproul, senior partner and chief executive, Deloitte UK Business has led the recovery in recent years, but this cannot be [...]
One in five Brits has fallen victim to cybercrime in the last year, with a similar proportion having had their bank details stolen and used to make purchases November 23, 2015 One in five (22 per cent) Brits has fallen victim to cybercrime in the last year, according to a survey released today by security software company Norton by Symantec. The survey of more than 1,000 UK consumers also found that 44 per cent of people had suffered a cybersecurity incident at some point in their life. “We no [...]
City Moves for 10 December 2015 | Who’s switching jobs December 9, 2015 DELOITTE Business advisory firm Deloitte has appointed Andy Lees as a partner in its financial services team. He joins from Capgemini, the French management consulting corporation, where he was UK chief executive of its financial services business. Prior to this, Andy worked for Atos Consulting as a managing partner, after spending many years at KPMG [...]
Deloitte fine over MG Rover case reduced to £3m after appeal tribunal April 13, 2015 Deloitte has been fined £3m by a City watchdog over failures in the lead-up to the collapse of MG Rover a decade ago. The penalty is a significant reduction on an initial fine imposed last year, following an appeal by Deloitte and former partner at the firm Maghsoud Einollahi, the advisers who worked on MG Rover's sale [...]
UK manufacturing rounds off a poor 2015 with end-of-year stagnation February 10, 2016 The UK's manufacturing sector ended its decline toward the end of last year, but contracted over 2015 as a whole. Factory output was the same in the final three months of 2015 compared with the three months to September, the Office for National Statistics said this morning. The stagnation rounded off a poor year for the [...]
London risks taking its global status for granted if housing crisis carries on unabated and cost of living continues to rise March 2, 2016 It's awards season, and from the Oscars to the Grammys gongs are being handed out left, right and centre. It’s an opportune time, therefore, to reflect on the accolades bestowed recently on our capital city. London cleaned up last year, taking the top spot in a clutch of surveys including EY’s European Attractiveness Survey, MasterCard’s [...]