Stelios accuses Easyjet of ‘voting fraud’ after failing to oust management May 22, 2020 Easyjet founder Sir Stelios Haji-Ioannou accused the airline of “voting fraud” today after his attempt to oust key management figures was defeated. Haji-Ioannou launched the attempt to remove the management team after a row over Easyjet’s continuation of a deal to buy 107 Airbus planes for £4.5bn which Haji-Ioannou says puts the future of the [...]
Report into audit sector commissioned by John McDonnell calls for break-up of Big Four December 14, 2018 A report into the audit sector commissioned by shadow chancellor John McDonnell has called for the break-up of the Big Four audit firms. The report, published today, recommended that the audit business of accounting firms must be legally separate from everything else and says it should be a criminal offence for auditors to perform non-audit [...]
Viagogo forced to overhaul ticket-selling practice by competition watchdog November 27, 2018 Ticket reseller Viagogo was today forced to “overhaul” the way it does business by the UK’s competition watchdog. In a landmark legal victory the Competition and Markets Authority (CMA) has secured a court order that will force Viagogo to tell customers the specific seat that they will get and whether there is a risk of [...]
Real Estate: COVID-19 may permanently quarantine inflexible leases May 5, 2020 Real estate leases have long represented a point of disagreement between accountants and financial analysts. This disagreement was the primary reason why the London-headquartered International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) went separate ways in finalising lease accounting standards. Figure 1. Lease Accounting Survey Report (October 2013) For a [...]
East African states strive for single capital market as Mauritius diversifies February 25, 2020 CFA Institute has examined Africa’s 10 largest capital markets in a major report compiled by Heidi Raubenheimer, CFA, our senior director for journal publications. Here we highlight key developments across East Africa and also take a look at island nation Mauritius. East Africa: Kenya leads way as tech platform links markets The East African Community (EAC) [...]
Sainsbury’s shares crash as Asda merger torpedoed February 27, 2019 A strongly worded report from the regulator appears to have torpedoed this supermarket mega merger. What a difference a day makes. Until this morning, Sainsbury's (LSE:SBRY) was the best-performing supermarket stock over the past 12 months by some margin. Now, after the regulator's report on its proposed merger with Asda, it's the worst! After months [...]
Four fintech forums growing in importance to women investors May 14, 2020 Based on my 10 years of research, I know that financial independence – being able to pay one’s way without having to work or rely on others – is a critical theme for women. In my recent global survey, when women were asked the most important reason why they invest, the second most popular answer [...]
Sainsbury’s and Asda merger could cut hole in shoppers’ pockets, Waitrose warns November 8, 2018 The proposed merger of Asda and Sainsbury’s will cause substantial harm to customers, rival chain Waitrose warned today. It said the merger could force independent retailers to close in the face of competition from the new giant, leaving shoppers with fewer alternatives, while prices could rise. In comments to the Competition and Markets Authority (CMA), which [...]
Audit must reclaim its Victorian roots to win back public trust January 15, 2019 Today marks the first anniversary of the collapse of Carillion. It is also the first day that the Business, Energy and Industrial Strategy select committee takes evidence in its inquiry into the audit market. Carillion’s downfall brought the role of audit in business and society into the spotlight, and was a watershed moment for the [...]
Sports Direct calls for probe into Nike and Adidas October 14, 2019 Sports Direct called this evening for a competition probe into the market dominance of sportswear brands such as Nike and Adidas. In a statement, the company said top brands “use their market power to implement market-wide practices aimed at controlling the supply and, ultimately, the pricing of their products”. Read more: Corbyn kicks up fresh [...]