UK business taxes are so bad, we’re now two places behind Macedonia November 21, 2014 It looks like entrepreneurs' complaints about the standard of the UK's business tax system are justified – a new report has found that the cost of compliance is so bad, we've now fallen behind Macedonia. The Paying Taxes report, an annual league table of 189 business tax systems compiled by PwC and the World Bank, [...]
City Moves for 12 January 2015 | Who’s switching jobs January 11, 2015 PwC Legal The professional services firm’s legal division has announced the appointment of Mick Gorrill. He is a data protection practitioner and, as assistant information commissioner at the Information Commissioner’s Office, he oversaw the introduction of data protection fines into law. RBC Wealth Management The wealth manager has announced the appointment of Antony Johnson as [...]
What does the chancellor’s Budget mean for you? From the single parent to the startup founder March 18, 2015 THE SINGLE PARENT Catherine Gannon, 51Managing partner at law firm Gannons Gannons Commercial Law continues to do well, with profits and earnings up on last year. Catherine is commercially savvy and has restructured the business from an LLP to a limited company, illustrating that she is a smart operator in a segmented legal market. [...]
City Moves for 09 January 2015 | Who’s switching jobs January 8, 2015 Savills Matt McCue has been appointed out of town retail director at the real estate services provider. He has over 17 years’ experience in the industry, and joins from CBRE. He will continue to work with both landlord and retail clients at Savills. BNY Mellon The investment company’s wealth management business has appointed Yolande Escher [...]
Cineworld finance boss Philip Bowcock on the relevance of cinema in the digital age January 14, 2015 The art of cinema and the movie business are now at a crossroads,” Martin Scorsese, the veteran filmmaker, wrote in an open letter published in the Italian magazine L’Espresso last year. “In the future, you’ll probably see less and less of what we recognise as cinema on multiplex screens and more and more of it [...]
How regulators’ focus on culture is offering banks a chance to get ahead February 9, 2015 As the acid rain of fines and litigation costs wore away profits, last year will no doubt be remembered as the year that an ethical problem for banks became a financial one. In 2014, the fines levied by the Financial Conduct Authority (FCA) hit almost £1.5bn. Against this backdrop, the role of regulators will come [...]
London Mining Marampa mine sold through pre-pack deal November 3, 2014 London Mining's Sierra Leona mine Marampa has been sold through a pre-pack structure, meaning a number of creditors will loose out. The deal, which was announced just over a week ago, sees Timis Corporation take on London Mining's assets and all staff will continue to be employed. When it entered administration last month, [...]
Tesco faces investigation by Financial Reporting Council over profit blackhole December 22, 2014 Tesco is facing an investigation by another City regulator over its auditing practices which have come under scrutiny following the revelation of a £263m profit blackhole. The Financial Reporting Council (FRC) will look at the “preparation, approval and audit” of Tesco’s financial statements for the last three financial years stretching back to 2012. The investigation will [...]
City A.M. award winners 2014 are… November 13, 2014 CITY A.M. AWARDS 2014 Congratulations to all the enterprising winners of our fifth annual awards. PERSONALITY OF THE YEAR Nigel Wilson Legal & General BUSINESS OF THE YEAR Aldi ACCOUNTANCY FIRM OF THE YEAR PwC ANALYST OF THE YEAR Ian Whittaker Liberum BANK OF THE YEAR Handelsbanken BUSINESS SERVICES FIRM OF THE YEAR Compass Group [...]
Petra Diamonds expands audit committee with new director November 11, 2014 MINING company Petra Diamonds has welcomed Octavia Matloa as a non-executive director of the firm, and appointed her to its audit committee. Matloa, 38, is a chartered accountant and has worked with PwC, as well as founding Tsidkenu Chartered Accountants and Mukundi Mining Resources. According to Petra, which owns five mines in South Africa, she [...]