Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Ted Baker expected to boost revenues despite high street worries September 30, 2018 Retailer Ted Baker is expected to show it has raised revenues in results released this week, despite tough high-street conditions. Analysts suggest the clothing company’s half-year revenue will be shown to have gone up around 4.5 per cent when it announces results this Thursday, as luxury goods continue to escape the bloodbath at the lower [...]
Labour mulls break-up of Big Four accountancy firms September 21, 2018 The Labour party is weighing up radical plans to break up the Big Four accountancy firms, amid mounting pressure on the UK’s scandal-hit auditors. Shadow chancellor John McDonnell vowed to end what he described as a “cartel” among the country’s largest bean counters in the run-up to his party conference this weekend. “They have demonstrated [...]
Labour mulls break-up of Big Four accountancy firms September 21, 2018 The Labour party is weighing up radical plans to break up the Big Four accountancy firms, amid mounting pressure on the UK’s scandal-hit auditors. Shadow chancellor John McDonnell vowed to end what he described as a “cartel” among the country’s largest bean counters in the run-up to his party conference this weekend. “They have demonstrated [...]
A summer to forget: KPMG reputation dealt another blow after admitting to compliance report misconduct September 19, 2018 Scandal-hit KPMG has admitted to misconduct over compliance reports made for a unit of the Bank of New York (BNY) Mellon Group in another fresh embarrassment for one of the Big Four accountancy firms. The UK’s accountancy watchdog said today that KPMG and one of its partners Richard Hinton accepted they had fallen short of standards [...]
A summer to forget: KPMG reputation dealt another blow after admitting to compliance report misconduct September 19, 2018 Scandal-hit KPMG has admitted to misconduct over compliance reports made for a unit of the Bank of New York (BNY) Mellon Group in another fresh embarrassment for one of the Big Four accountancy firms. The UK’s accountancy watchdog said today that KPMG and one of its partners Richard Hinton accepted they had fallen short of standards [...]
City watchdog chair Charles Randell says Big Four needs to improve audit quality ‘as a matter of urgency’ September 6, 2018 City watchdog chairman Charles Randell launched a withering attack on the Big Four accountancy firms today, calling for the profession to address audit quality "as a matter of urgency". In a speech marking 10 years since the start of the financial crisis, Randell said it was “very disappointing” to see that the Financial Reporting Council’s audit [...]
Grant Thornton hit with £3m fine for Vimto audit failures August 29, 2018 Accountancy firm Grant Thornton has been fined £3m for misconduct in the auditing of the owner of soft drink Vimto and the University of Salford. Regulator the Financial Reporting Council (FRC) fined Grant Thornton and four of its senior auditors for what it said were “widespread and serious inadequacies”. The fines relate to the audits of [...]
KPMG hit with £2.1m fine for misconduct on Ted Baker audit August 20, 2018 KPMG has been fined £2.1m by the accountancy watchdog over its audit of fashion retailer Ted Baker. The Financial Reporting Council (FRC) has fined and “severely reprimanded” the accountancy giant following its admission of misconduct in relation to the audits between January 2013 and January 2014. Senior statutory auditor Michael Barradell has also been fined [...]
Interior design marketplace Eporta lands $8m funding from venture capital and angel investors including Guy Hands | City A.M. April 10, 2018 Interior design startup Eporta has nabbed $8m (£5.7m) in funding from an impressive list of venture capital firms and angel investors. London-based Eporta, which acts as a business-to-business marketplace where interior designers and offices can buy furniture from manufacturers directly, pulled in the cash in a series A round led by US firm Canvas Ventures. [...]
Last week in the City March 23, 2018 This week, China warned the US that it is not afraid of engaging in a trade war, the Federal Reserve hiked interest rates again, and Facebook shares plummeted after allegations that millions of users' profile data had been harvested. The FTSE 100 was down 3.5% over the course of the week by mid-session on Friday. [...]