In honour of Prince, PwC’s Andrew Sentance unearths his band Rock in the City’s 2015 cover of Purple Rain April 24, 2016 The late and great 80s icon Prince may have been famous for his hit When Doves Cry, but one former hawk tells us he's devastated to lose one of his musical inspirations. Regular readers may remember Andrew Sentance, PwC's music-loving senior adviser and an ex-hawk at the Bank of England, hung up his guitar for good last [...]
Mapped: All 34 Budgens store closures and when they will shut March 7, 2017 This morning it emerged that Budgens stores up an down the country have been closed after the operator of the stores went into administration. Accountancy firm PwC was appointed as administrators for the shops by restructuring firm Hilco Capital, but the accountancy giant could not find a buyer for the convenience stores. Read more: Budgens [...]
Fears grow for Toshiba as it delays nuclear writedown and earnings announcement February 14, 2017 Shares in Toshiba fell over eight per cent in overnight trading after the conglomerate unexpectedly pushed back an announcement on its quarterly earnings and details of a mammoth writedown of its nuclear business. Investors were waiting with bated breath for the announcement, due today at 3am GMT (12pm Japan time) with the market expecting a charge of [...]
British bosses are bold about Brexit – but worried about global growth January 16, 2017 Bosses at Britain’s largest firms are more optimistic about prospects for business expansion than their international counterparts despite sharing greater levels of concern about global growth and the fallout from Brexit, according to a new survey by PwC. The annual report, released tonight at the World Economic Forum (WEF) meeting in Davos, is based on [...]
Bank of Tokyo-Mitsubishi UFJ and MUFG Securities fined £26m by PRA for not being open February 9, 2017 Financial regulators have imposed £26m of fines on the Bank of Tokyo-Mitsubishi UFJ (BTMU) and MUFG Securities for not cooperating with investigations. The Prudential Regulation Authority (PRA) said the two companies had failed to be “open and cooperative” with the UK financial services regulator after an enforcement action by US authorities. BTMU and MUFG, which [...]
City Moves for 4 January 2017 | Who’s switching jobs January 4, 2017 Tp bennett Tp bennett has appointed Stephen Masterson as director for business development and marketing. Stephen will support the practice in consolidating its position across the sectors and in exploring new opportunities in the UK and internationally. Stephen joins from Perkins+Will, where he led the London office’s marketing and business development for over eight years. [...]
Financial services report gloomiest outlook since 2008 crisis January 23, 2017 Hiring increases in the face of falling optimism rounded off a mixed picture for the financial services sector in the quarterly survey run by the CBI and PwC. The survey of 103 firms showed declining sentiment for the fourth consecutive quarter. A drop of 35 per cent in optimism about the overall business situation was [...]
Airbnb isn’t monopolising the homestay market, it’s popularised it for a new generation of business travellers July 27, 2017 A recent report by PWC found that hotel companies and peer-to-peer home swapping platforms account for the second largest share, in terms of volume of activity, of the UK’s sharing economy. With the meteoric growth of Airbnb in particular, most people assume that traditional rental and aparthotel operators, like myself, are concerned about the impact [...]
PwC: Brexit would cost the UK one million jobs, but most are destined for immigrants March 21, 2016 A vote to leave the EU could cost the UK nearly a million jobs by 2020, a financial services giant has warned. However, the figure is mainly due to a fall in inward migration. In the report from PwC for the Confederation of British Industry (CBI), the number of people in work is expected to [...]
London’s floats market sinks on political shocks December 12, 2016 The London IPO market will end the year on a subdued note, with total proceeds expected to be down by around 60 per cent compared to this time last year. According to PwC’s latest IPO survey the London market raised £5.3bn across 60 floats throughout the year, averaging proceeds of £121m per listing. The picture [...]