FTSE boards do not understand the threat of cyber attacks, government warns March 4, 2019 Boards at some of the UK’s largest companies still do not fully understand the potential impact of a cyber attack, the government has warned. A report into FTSE 350 companies published today shows that while almost all firms have a cyber security strategy in place, just 16 per cent of boards have a comprehensive understand [...]
DS Smith profit strengthened by e-commerce demand during lockdown July 2, 2020 Packaging supplier DS Smith has said a strong demand in ecommerce, as well as a growing environmental awareness, helped full year-profit inch up five per cent. The figures DS Smith reported full-year revenues of £6.04bn, down from £6.17bn in the year before. The coronavirus crisis has dented revenues by approximately £15m in the final two [...]
The six big ideas that could fix auditing November 13, 2018 With nearly all the major expected responses to the Competition and Markets Authority’s (CMA) probe into the audit sector released or leaked, consensus on how to fix the scandal-hit sector is scattered – and there’s no silver bullet. Here are six suggestions the CMA has been sent by auditors, industry bodies, stakeholder groups and academics [...]
ii winter portfolios extend outperformance in March April 17, 2019 There are fewer star performers in this year's Aggressive Winter Portfolio – that was until March when no less than three of the five constituents each gained around 8%. Ignore Mark Twain and Benjamin Disraeli, statistics demonstrate that some stocks do far better during the winter months than others. And the stats are backed up [...]
Watchdog plans for audit sector shake-up set to draw backlash from businesses January 6, 2019 Finance bosses at some of Britain’s largest FTSE companies are set to hit out at new proposals put forward by the UK’s competition regulator, it emerged this evening. Plans by the Competition and Markets Authority (CMA) to make publicly listed firms appoint two sets of auditors are expected to receive a harsh backlash from a [...]
Let’s take a closer look at Neil Woodford’s dubious investment decisions October 23, 2019 The man with the Midas touch. That was how people saw Neil Woodford only a few short years ago. But things didn’t work out that well for King Midas in the end, and the same can be said for the former star manager, whose reputation is in tatters and whose investment empire now set to [...]
Big Four accountants face Australian competition probe February 13, 2019 The Big Four accountancy firms face fresh global pressure as an Australian probe investigates whether they have operated as a cartel in the country. The Australian Competition and Consumer Commission (ACCC) contacted Deloitte, EY, KPMG and PwC late last year to request information, in order to determine whether a full inquiry is needed, the Australian [...]
BDO and Moore Stephens merger will create Britain’s fifth-largest accountancy firm November 25, 2018 BDO is preparing to merge with smaller accountancy rival Moore Stephens, in a move that will create a new fifth-largest auditor in the UK, bumping Grant Thornton off the spot. Partners at BDO, which currently holds the number six position, has approved a merger with Moore Stephens, currently the ninth-largest professional services firm in Britain, [...]
Vale takes £1bn hit as it sacrifices output for safety after mining disaster January 30, 2019 Brazilian miner Vale said today it will take a £1bn financial hit to improve safety at its operations after the most deadly labour accident in Brazil’s history. Chief executive Fabio Schvartsman said his company will take around 10 per cent of its output offline as it decommissions 10 dams similar to the one that burst [...]
FTSE risers and fallers: Exporters rise after pound weakens January 30, 2019 A weaker pound boosted Britain’s biggest listed companies today after MPs voted against an extension to Article 50 , and supported the Prime Minister’s plan B for Brexit. The FTSE 100 rose 1.58 per cent to 6,941.63 as its many exporters saw an increase in investor confidence. Read more: Vale takes £1bn hit as it sacrifices output [...]