Global TV market set to channel over $300bn revenues by 2020 September 28, 2016 The global television market will be worth $325bn (£250bn) in revenues by 2020, PwC and the Institute of Chartered Accountants have forecast. A reported found the UK is regarded as a TV world leader and an exporter of content and technical and creative talent. According to the research, the UK’s success is driven by the [...]
Financial sector’s tax contribution hits a record £71.4bn December 6, 2016 The tax take from Britain's financial sector has hit record levels, underscoring its economic importance as talks between the government and the City enter a new phase in the run up to Brexit. Fifty financial services firms, largely UK-listed and including the Square Mile's banking titans, paid £71.4bn into HM Treasury's coffers for the year [...]
KPMG boss Simon Collins won’t be seeking re-election after five year tenure December 1, 2016 KPMG's UK boss will step down in March after five years at the helm of the accountancy giant. Simon Collins told fellow partners of his plans on Thursday and is expected to put his hat in the ring to step up and lead the global network of the firm, according to reports by Sky News. Read more: [...]
Calls for banks to be protected in Brexit as sector’s total tax bill rises to £34.2bn November 9, 2016 The amount of taxes generated by the UK’s banking sector has risen to £34.2bn in the year to March, underscoring the importance of financial services to the wider economy. The figures, revealed today, have generated fresh calls to defend the City during upcoming Brexit negotiations. A study published today by professional services firm PwC on behalf [...]
Wall Street banks lead bonus charge as European lenders set to row back on mega payouts January 4, 2017 Top dealmakers at Wall Street’s banking titans are expected to take home the lion’s share of this year’s payouts as the split between bonus season winners and losers becomes more pronounced. Next week, the bonus season will kick off in earnest when Wall Street heavyweights JP Morgan and Bank of America report full-year results. “US banks [...]
A crackdown on VAT fraud could turn business leaders into “pariahs” October 31, 2016 Business leaders could be held personally responsible for employees going behind their back and undertaking fraudulent actions if government proposals are taken forward. An HM Revenue & Customs (HMRC) consultation on VAT reform closes for comments next week and experts are staggered that the plans heighten the bar of the level of detail company directors need to know. Businesses and [...]
City Moves for 29 September 2016 | Who’s switching jobs September 29, 2016 Smith & Williamson Jim Clark and Philip Marsden, both of Marsden Clark Corporate Finance, have joined Smith & Williamson's corporate finance team. Jim is appointed as a director and Philip Marsden as a consultant, based at Smith & Williamson’s Moorgate office in London. Jim and Philip have over 50 years of transaction experience between them. [...]
Growth in revenues is good but it’s even better if you look more carefully, says KPMG boss December 16, 2016 KPMG said its annual results proved it had moved beyond simply being a Big Four beancounter as it joined competitors in smashing through the £2bn revenue barrier. The UK arm, based in Canary Wharf, is the last to announce its annual return, reporting performance for the 12 months to the end of September. EY's UK business reported revenues [...]
Bank Junction: All vehicles except buses and bikes to be banned from notorious collision spot in trial scheme from April December 15, 2016 Cars, taxis and all other vehicles except buses and bikes will be banned during weekdays at Bank Junction in an experimental scheme from next April. From Monday to Friday between 7am and 7pm only cyclists, pedestrians and buses will be able to move through the junction, which has become one of central London's most notorious [...]
Cabbies furious about possible exclusion from Bank junction December 1, 2016 Taxi drivers are up in arms about proposals to stop them driving through Bank junction. The City of London Corporation has proposed that taxis and other vehicles should be excluded from the junction between 7am and 7pm on weekdays. Buses and bicycles, however, would be allowed through. Read more: Plan to stop traffic moving through Bank junction set [...]