EY carve-up decision delayed as partners mull plans August 7, 2022 The planned break-up of ‘Big Four’ firm EY has been pushed back to the end of the year as bosses mull the practicalities of proposals to carve up its consultancy and audit practices, according to reports.
FRC fines hit record highs as watchdog sends ‘clear message’ to UK’s audit sector November 14, 2022 The UK’s Financial Reporting Council (FRC) fined auditors a record £33.3m in the year running up to 30 September 2022, new figures from Thomson Reuters Confirmation shows. The record high sum marks a 77 per cent increase on the £18.7m fines – after discounts and adjustments – handed out in the previous year. The [...]
FTSE 100: What’s moving markets today? November 8, 2023 Moving markets today: U.S. stocks rise, oil prices plummet to 3-month lows, all eyes on Powell and Bailey's speeches
Lloyds, HSBC, Barclays and Natwest post record £44bn profits from global interest rate hikes February 22, 2024 The UK's biggest banks notched their highest combined annual profits ever last year as interest rate hikes around the world gave lenders gaping margins.
Analysis: Audit watchdog faces catch-22 in hunt for new chief February 15, 2023 Britain’s audit watchdog is on the hunt for a new chief executive who can face down the Big Four accounting firms after Jon Thompson announced last week he would leave the post to lead the grossly delayed HS2 project. But in choosing a new boss, the newly-merged Department for Business and Trade has a difficult [...]
Soaring inflation and recession fears trigger UK dealmaking slowdown June 6, 2023 Mergers and acquisitions in the UK tumbled sharply in the first three months of the year as recession fears and rapid rate hikes spooked dealmakers, official figures have revealed today.
Rail travel: Government halving the cost of single LNER fares in a move that will ‘unleash more competition, innovation and growth’ February 7, 2023 The government is set to halve the cost of single rail fares across the wider LNER rail network, as part of its plan to reform the UK’s railways. Transport secretary Mark Harper will announce an extension of single-leg pricing beyond the few LNER services that have trialled the ticketing system since 2020. The move will [...]
Retail experts warn of ‘challenging’ months ahead as sales growth slows February 7, 2023 Senior retail figures have warned that the coming months will be “challenging” for the sector, after sales slowed over January, falling below the three-month average growth of 5.2 per cent to 4.2 per cent Helen Dickinson OBE, chief executive at British Retail Consortium (BRC), said consumer confidence remains “stubbornly low” and looming rises in household [...]
Bain & Co to challenge UK government’s ban via judicial review September 4, 2022 Bain & Co is set to challenge the Cabinet Office’s decision to ban it from competing for government contracts, via a judicial review. The US consultancy has applied for a judicial review of the Cabinet Office’s decision last month to ban the firm from tendering for UK government work, the Financial Times reported. The UK [...]
City Moves: Who’s moving where in the Square Mile and beyond January 18, 2024 A new year brings a wealth of new opportunities. Our weekly round-up of new appointments and who’s moving where keeps you up to date with the latest in the British business transfer window. Liontrust appoints Head of Global Growth Equities Liontrust has recruited Mark Hawtin as Head of Global Growth Equities in a move enabling [...]