London Stock Exchange bounces back to top Europe’s IPO charts December 11, 2017 The London Stock Exchange (LSE) is set to end the year atop the European podium for company floats, bouncing back from a weak 2016 at a crucial time for the exchange. Proceeds from initial public offerings (IPOs) on the London market have been 75 per cent higher than 2016, according to data from accountants PwC. [...]
Clifford Chance breaks ranks with magic circle to include partners in its gender pay gap figures March 27, 2018 Clifford Chance has included its partner pay in its gender pay gap report, the first magic circle law firm to do so. The firm revealed today that it had a mean hourly pay gap of 66.3 per cent, falling to 27.3 per cent in its partnership ranks, 27.7 per cent among its business services staff [...]
UK businesses have slashed their cyber security budgets by a third October 18, 2017 Businesses in the UK have cut the amount of cash they are spending on cyber security despite the growing threat of attacks. Budgets for security are a third of what they were this time last year, down to £3.9m on average, compared to £6.2m according to research from PwC. The cost of attacks has fallen, [...]
Carillion’s collapse – ministers hold emergency Cobra meeting January 16, 2018 The government’s emergency Cobra committee met last night to discuss “the most immediate issues” from Carillion’s spectacular collapse earlier in the day. Straining under a £1.5bn debt pile, Britain’s second-biggest contractor failed shortly before 7am on Monday morning, after eleventh-hour talks between the government and creditors ended without an agreement. Cabinet Office minister David Lidington [...]
Carillion’s car crash reminds us that the spectre of bailouts still haunts Whitehall January 15, 2018 As the farce surrounding Carillion escalates, it is worth remembering the many people who will suffer as a result of the construction and outsourcing firm’s decline. A collapse of Britain’s second-biggest contractor would have dire consequences for its 43,000 global workforce, around 20,000 of whom are employed in the UK. Then there are pensioners. A [...]
The global economy is booming, but not for everyone January 24, 2018 Optimism about the future path of the global economy is at record levels among the chief executives of the world’s largest companies, according to PricewaterhouseCoopers (PwC). Its 2018 survey of the world’s business elite found a large majority of chief executives believe global economic growth will “improve” over the next year. In fact, the number [...]
Poundland share price crash: Discount group’s owner Steinhoff slashed by more than 66 per cent as CEO quits amid accounting probe December 6, 2017 Shares in Steinhoff, Poundland’s South Africa-listed owner, have plummeted this morning as its chief executive quit amid news of an accounting probe. Markus Jooste announced his resignation with immediate effect late last night, as the company announced that “new information has come to light” relating to “accounting irregularities requiring further investigation”. Steinhoff’s board said that, [...]
Screws turn on Carillion executives as business secretary Greg Clark weighs in on misconduct probe January 17, 2018 Pressure was mounting on Carillion’s former top brass last night after the government promised a thorough investigation into the actions of the failed firm’s executives. A probe by the Official Receiver was ordered to be fast-tracked and widened by business secretary Greg Clark. “Any evidence of misconduct will be taken very seriously,” he said. Cabinet [...]
Challenger accountant CogitalGroup announces first acquisition for Blick Rothenberg December 1, 2017 Blick Rothenberg, the accountancy firm owned by CogitalGroup, has today made it first acquisition as its parent pursues plans to challenge the Big Four accountants. Shelley Stock Hutter, based in Marylebone, has been scooped up by Blick Rothenberg to strengthen its presence in the “owner-managed business” sector. With a team of more than 60 people, [...]
The City of London has elected its 690th Lord Mayor September 29, 2017 The City of London has elected its 690th Lord Mayor – a former PwC partner who will represent the City's interests during one of the most unsettled periods in its history. Charles Bowman, formerly a non-executive director of PwC's tax practice and the man who set up its audit and assurance practice looking after its [...]