UK firms ready to invest as US and UK surge ahead September 29, 2014 THE UK’s largest firms are readying themselves for a new era of innovation and investment as a survey of bosses says the willingness to take on risk has risen due to surging US and UK economies and easier credit availability. Of the 118 chief financial officers of major UK companies surveyed by accountancy firm Deloitte, [...]
Tesco suspends Kevin Grace: Fifth executive leaves over £250m profit miss October 7, 2014 Tesco has suspended a fifth director over a shock discovery last month of an error in its accounts which meant first half profits were overstated by £250m. Kevin Grace, Tesco’s group commercial director, was asked on Monday to step aside as Deloitte and Freshfields carry out their investigation into what went wrong in Tesco’s accounts. [...]
Christmas quiz: Test your knowledge December 22, 2014 Deloitte’s chief economist, poses some of the trickiest questions of the year. How many can you get right? Answers are at the bottom. 1 The Louvre is the world’s most popular art gallery, with 9.3m visits in 2013. How many visits did people make to Disney’s Magic Kingdom in Florida in the same year? a) [...]
500 jobs at risk as Rileys Sports Bars enters administration September 15, 2014 Sports bar chain Rileys has entered administration, putting more than 500 jobs at risk across the UK. This is the second time in two years the pool hall business has entered administration, and comes two months after parent company Greybull Capital put it up for sale. Rileys was founded in 1878. Rob Harding [...]
Real Madrid trump Barcelona with the highest revenue for a football club ever September 5, 2014 Real Madrid have announced total revenue of €603.9m (£479.7m) for the 2013/14 season, a new record for a football club, beating the record set by Barcelona earlier this summer. The club has recorded a 10.9 per cent increase in revenue on the previous season's €521m, and has trumped the €530m reported by arch-rivals Barcelona in [...]
Tesco share price falls again: Chairman Sir Richard Broadbent steps down as profit overstatement is bigger than thought October 23, 2014 Shares in Tesco closed down 6.6 per cent in early afternoon trading, after the supermarket posted first-half results showing statutory profit before tax, which includes one-off items, collapsed by 91.9 per cent to £122m in the 26 weeks ended 23 August 2014. Sir Richard Broadbent, Tesco's chairman, announced he will step down, while the embattled [...]
Deloitte can appeal part of its Rover fine November 20, 2013 DELOITTE has been given permission to appeal part of the record £14m punishment imposed for its work with the ill-fated car company MG Rover. The accounting firm is allowed to contest six of the 13 findings against it, the Financial Reporting Council said yesterday. Deloitte and one of its former partners were penalised in September [...]
UK’s ad market to overtake Germany June 16, 2014 BRITAIN’S advertising market is set to overtake Germany’s to become the world’s fourth largest, as the UK’s economy continues to recover. Advertising revenue is on track to jump by £1bn, or 7.4 per cent, this year led by the boom in mobile advertising, according to research from Zenith Optimedia. Meanwhile digital recruitment advertising is also [...]
City Moves for 23 September 2014 | Who’s switching jobs September 22, 2014 Baker & McKenzie Gillian Coyle has been appointed London HR director at the law firm. She joined in 2010 as the head of the HR business partner team, and previously spent 12 years at Deloitte. Coyle will also serve on Baker & McKenzie’s London Management Committee. Deutsche Asset & Wealth Management Astrid Manroth has been appointed [...]
Bundesliga chief suggests Premier League has “too much money”, says a game abroad wouldn’t be fair to fans October 8, 2014 The chief executive of the Bundesliga, Christian Seifert, has suggested the Premier League has “too much money” and this is preventing it from long-term development in players and infrastructure. In explaining the links between the Bundesliga’s growth and the triumph of the Germany national team at the World Cup, Seifert pointed to the league's [...]