New Deloitte legal boss says the Big Four firm can become a ‘significant player’ in the £26bn UK market March 10, 2019 The new head of Deloitte’s legal arm says he wants the Big Four firm to become a “significant player” in the UK’s £26bn legal market. Michael Castle, who joined Deloitte last month from Allen & Overy to lead its new UK legal venture, told City A.M. that the firm is poised to “transform the legal landscape”. [...]
More than three quarters of CFOs believe the UK will be worse off out of the EU, says Deloitte February 4, 2019 More than three-quarters of chief financial officers believe the UK will be worse off as result of leaving the EU, a new Deloitte survey has found. Approximately 80 per cent of CFOs surveyed by the big-four accountant said they expected the long-term business environment to be worse on leaving the EU. The UK is scheduled to leave [...]
Arcadia staff gear up for legal action against Philip Green’s retail empire February 9, 2021 Dozens of ex-Arcadia staff have vowed to take legal action against the retail consortium, after it became clear their jobs would not be saved when the Arcadia brands were sold. Arcadia fell into administration in December, becoming the biggest high street casualty of the Covid-19 pandemic. Earlier this week online fashion giant Boohoo announced it [...]
New Look launches restructuring plan to slash rents August 26, 2020 High street retailer New Look has asked landlords to change the way it pays rent on most of its stores in a bid to secure a £40m cash injection. The fashion chain launched a company voluntary arrangement (CVA), which involves resetting 402 stores to turnover rent to align rent payments with future performance. The turnover [...]
European Super League: Who is in it? How will it work? Why is it happening? And can it be stopped? April 19, 2021 Twelve clubs, including Real Madrid, Barcelona, Juventus and six English teams, have confirmed they are planning to launch a breakaway European Super League. If it goes ahead, the move would represent the most significant change to club football in living memory. But what will the new competition look like? Which teams will be involved? And [...]
Tracing app has sent just one alert about an outbreak in a venue October 9, 2020 The contact-tracing app for England and Wales has reportedly sent only one alert about an outbreak of coronavirus in a venue since its launch two weeks ago. The tracing app, which has been downloaded 16 million times, tells users whether or not they’ve been near someone who has tested positive for coronavirus. Its QR code [...]
Rolls Royce’s £4bn loss: A sobering reminder of how much damage the pandemic has caused March 11, 2021 Rolls Royce was already in serious difficulty even before the pandemic wind came blowing in from China a year ago, due to problems with its Trent 1000 engine that powered the Boeing 787 Dreamliner. Today’s full year results were not any better,and did not come as a surprise for CMC Markets UK chief market analyst Michael [...]
Business confidence hits record low as finance chiefs predict 20 per cent revenue drop May 4, 2020 Business confidence fell by the largest amount on record during the first quarter, according to a survey of chief financial officers published today. In the first quarter, 84 per cent of finance bosses said they are less optimistic about the prospects for their company than they were three months ago the survey from Deloitte found. [...]
UK consumer confidence plunges after deepest quarterly decline on record April 3, 2020 UK consumer confidence in the first quarter of the year fell nine percentage points as the coronavirus pandemic hit home. Confidence in job security fell 15 percentage points from the previous quarter to -20, Deloitte’s consumer tracker showed. Sentiment in the state of the economy fell to -71, with consumers signposting a further three percentage [...]
UK-Kenya trade deal in jeopardy as mood in Nairobi turns outright hostile March 5, 2021 The future of the recently signed trade agreement between the UK and Kenya seems increasingly uncertain as MPs and a group of farmers in Nairobi are threatening to shoot down the pact. Yesterday, multiple Kenyan lawmakers came out against the trade deal, saying the agreement is ‘illegal’ under Kenyan law, while a collective of farmers [...]