Wishes and predictions for Osborne’s budget March 17, 2014 Business and accountancy advisers BDO has drawn up a wishlist for neglected middle-market firms, looking for a tax allowance for spending on factories and a reduction in employers’ national insurance for manufacturers. BDO also believes that the chancellor could reform business rates in a revenue neutral fashion and announce a fresh review. BDO say that [...]
US judge bars Big Four China units January 23, 2014 CHINESE units of the global Big Four accounting firms should be suspended from auditing US-listed companies for six months, a judge in the United States ruled, in an escalation in a long-running dispute over regulators’ access to documents. In a harshly worded 112-page ruling, Securities and Exchange Commission administrative law Judge Cameron Elliot censured the [...]
City Moves for 04 March 2014 | Who’s switching jobs March 3, 2014 Freshfields Bruckhaus Deringer The law firm has named London-based corporate partner Martin Nelson-Jones as co-head of its infrastructure and transport sector group. He joined in 1991 and became a partner in 2001. BNY Mellon The investment management firm has announced the appointment of Frank La Salla as chief executive of its alternative investment services business. He [...]
Marks & Spencer chooses a new auditor after 87 years with PwC December 5, 2013 MARKS & Spencer has parted ways with PwC, picking a new auditor for the first time since the FTSE 100 retailer became a public company in 1926. M&S said yesterday it has appointed Deloitte as its new auditor following a competitive tender. The switch comes at a time when the close and often decades-long relationship [...]
Man Utd chief: If success-starved Liverpool can still sell shirts we don’t need to worry February 12, 2014 Mirth might be in short supply among Manchester United fans this season but that did not stop executive vice-chairman Ed Woodward making an apparent joke at Liverpool’s expense while announcing financials today. Woodward delivered the pointed quip during an investor conference call while rebutting fears that United’s dreadful recent on-field performance would affect their famous [...]
Hall & Woodhouse receives £20m loan from M&G Investments fund January 12, 2014 INDEPENDENT brewer Hall & Woodhouse has received a £20m loan from M&G Investments as part of the fund’s effort to support mid-sized UK firms. Hall & Woodhouse, a regional brewer and owner of over 200 public houses, has over 1,400 employees in the UK and is looking to use the 10-year investment to acquire and [...]
Pharma firms investing more in new products but returns wane December 2, 2013 DRUG companies spend an average of $1.3bn to bring a new product from discovery to the market, up from $1.1bn on a year ago, research out today suggests. As a string of blockbuster drugs reach the end of their life under the commercial protection of patents, pharma firms have been investing more in researching, developing [...]
Business calls for Crossrail 2 December 11, 2013 AROUND eight out of 10 business leaders in London believe the capital needs an expanded airport capacity, while seven out of 10 say that high living costs makes it difficult to attract the right workers. A survey of 150 chief execs and senior partners by Deloitte also found that 79 per cent believe better surface [...]
Physical retailers see no boon from seasonal card spending January 7, 2014 CARD spending in brick-and-mortar shops over the last year dropped, despite the onset of an early economy recovery. Data from credit and debit cards released by Visa Europe yesterday suggest that while spending at physical retail stores dropped by 1.9 per cent between December 2012 and last month, despite a 6.8 per cent bump in [...]
Humbug for high streets as Christmas goes online November 25, 2013 THE CHRISTMAS retail market will be driven by booming digital sales again this year, with the value of goods sold in physical stores falling in real terms, according to a new forecast. Internet sales are expected to rise to £5bn, up 19 per cent on last year, according to a forecast from Deloitte. But excluding [...]