Former FSA boss Sants in talks to take up a post at Deloitte December 4, 2012 FORMER financial watchdog boss Hector Sants is in talks to take a new job with professional services giant Deloitte, a source said yesterday. Sants, who is on gardening leave after quitting the top job at the Financial Services Authority in June, is in discussions to join the firm next year. However, his job description remains [...]
UK regulator to boost audit market competition July 22, 2013 BRITAIN’S top companies will have to put their accounting business out to tender every five years to encourage competition between audit firms, the Competition Commission proposed today. The regulator outlined its plans to break the stranglehold of the ‘big four’ accounting firms: Deloitte, KPMG, PricewaterhouseCoopers and Ernst & Young, ahead of its final report this [...]
Autumn Statement: How it may affect your finances December 3, 2013 With interest rates already at record lows, the chancellor may have more bad news in store for savers Coverage of the chancellor’s Autumn Statement tomorrow will no doubt focus on the predictable headline-grabbers – fuel duty freezes, corporation tax changes, and heavily-trailed action on energy bills are all candidates. But for savers and investors, some [...]
City Moves for 16 August 2013 | Who’s switching jobs August 15, 2013 PwC The professional services firm has announced the appointment of Patrick Figgis as global health industries leader. Figgis is a chartered accountant and has spent his career at PwC advising global and local organisations. Coutts Mark Esner has joined the bank’s Manchester office as wealth manager. Esner has over 15 years’ experience in the financial services [...]
Another rise in new car sales as industry thrives August 6, 2013 THE AUTOMOTIVE industry registered another expansion in July, with 162,228 new cars registered in the UK, the 17th monthly rise in a row. The announcement, made by the Society of Motor Manufacturers and Traders (SMMT), caused the industry body to raise its forecast for new registrations in 2013 to 2.216m units. This means the SMMT’s [...]
Britain’s ability to attract so much foreign capital has saved us September 25, 2013 IF you want to understand why it is so vital for the UK to remain an open economy, look no further than our front page story on who now owns British firms. For the first time, more than half of all the shares in UK-listed companies – 53.2 per cent, to be precise – are [...]
Firms still falling short on charges six months after commission ban July 25, 2013 FINANCIAL advisory firms are still flouting recommendations designed to clarify how much people pay for advice, the City regulator has said. New guidelines under the retail distribution review (RDR) introduced six months ago were meant to clean up opaque charging structures for retail punters. The Financial Conduct Authority yesterday said some firms were ignoring guidelines [...]
UK economy heats up July 21, 2013 THE UK ECONOMY looks set to finally record robust growth this week, after a bundle of positive indicators from consumers and firms this morning all point to an expanding economy. All five of the latest surveys are positive, continuing a run of steadily strengthening data over the past few months and bolstering hopes that Thursday’s [...]
The Nominations: A very warm welcome to the shortlists for the City A.M. awards 2013 September 8, 2013 TODAY we kick off the countdown to this year’s City A.M. Awards with the first of the shortlists for an event that has rapidly established itself as a highpoint in the annual calendar. Our awards, now in their fourth year, celebrate all of the City’s main sectors and the people that make sure London remains [...]
Compulsory audit tenders could cost consumers quality, money and competition July 22, 2013 The Competition Commission (CC) has shied away from compulsory auditor switching, instead pushing for mandatory tenders every five years, in an attempt to break up the big four (PwC, Deloitte, Ernst & Young, KPMG). FTSE 350 companies should put their statutory audit engagement out to tender at least every five years. Companies may defer this [...]