KPMG UK profits decline as growth disappoints December 17, 2012 BIG four auditor KPMG witnessed a 13 per cent slump in profits last year after budgeting for a surge in economic growth that failed to materialise, results out today show. The professional services firm was forced to slash 275 senior jobs over the summer to shore up its bottom line, after it became apparent its [...]
Putting philanthropy at the top of the City’s agenda December 20, 2012 Look out your office window and you will see a “philanthroscape” – the City’s bridges, hospitals, schools, prisons, alms houses and churches we walk past everyday were built on the donations of the wealthy businessmen of yesteryear, including its most famous lord mayor Dick Whittington. The City’s rich philanthropic tradition continues today – but quietly. [...]
There are pitfalls to avoid when filing your tax return January 20, 2013 THE online tax return deadline – the paper return deadline has long since past – is at the end of this month (31 January). The process is a dreaded one, but it is important to get it right. Recently the number of people who are self-employed has been on the rise – but they’re not [...]
Comet’s star goes out as the retailer nears administration October 31, 2012 HIGH STREET stalwart Comet is preparing to bring in administrators, as increasingly tough conditions for its consumers and suppliers have made trading almost impossible. Electricals retailer Comet, which was bought by private investment firm OpCapita for just £2 earlier this year, has recently struggled to secure the credit insurance needed to buy supplies. The pre-Christmas [...]
The Capitalist needs you: Get your Mo on the Go October 31, 2012 MIRROR, mirror on the wall, who has the fairest moustache of them all? The time has come once again for the gentlemen of the City to sprout fuzzy upper lips in aid of prostate cancer awareness in this month of Movember. It is only day one but already the Real Men at Deutsche Bank, Linklaters, [...]
The Capitalist needs you: Get your Mo on the Go October 31, 2012 MIRROR, mirror on the wall, who has the fairest moustache of them all? The time has come once again for the gentlemen of the City to sprout fuzzy upper lips in aid of prostate cancer awareness in this month of Movember. It is only day one but already the Real Men at Deutsche Bank, Linklaters, [...]
Bean counters meet at old fish market for accountancy gongs November 22, 2012 FORMER Deloitte partner and ex-BAA chief financial officer Margaret Ewing picked up the outstanding industry contribution gong at the British Accountancy Awards in Billingsgate on Wednesday night. Accounting giants KPMG won global firm of the year, Johnston Carmichael won national firm of the year, while mid-tier firm of the year was Cooper Parry. KPMG’s Raylene [...]
Retail failures fell last quarter but fail to improve from 2011 September 30, 2012 THE NUMBER of UK retail failures showed no sign of abating in the first nine months of the year, as retailers continued to struggle against a tough economic backdrop and weak consumer spending. Figures from accountancy firm Deloitte show that although retail administrations fell in the third quarter – from 33 last year to just [...]
G20 risk disclosure suggestions aim to restore faith in banking October 29, 2012 A TASKFORCE set up by the G20’s regulatory arm, the Financial Stability Board (FSB), last night proposed seven recommendations to improve banking risk disclosures. The recommendations include listing risks from the bank’s business model, outlining sources of funding, how risk-weighted assets are calculated, forbearance of loans and how this affects the reported level of impaired or [...]
Fee incomes at law firms worst for six quarters September 27, 2012 THE UK’s biggest law firms are growing fee income at the slowest rate for six quarters, according to data out this morning. Though average income across the UK’s top 100 firms grew by 3.8 per cent in the three months to 31 July, the rate of growth was the worst recorded since the final quarter [...]