Government unveils pandemic support package for struggling tech firms June 9, 2020 International trade secretary Liz Truss will on Wednesday unveil a package of measures designed to help bolster the UK’s tech community, as businesses continue to struggle during the coronavirus pandemic. Jointly supported by the Department for International Trade (DIT) and the Department for Digital, Culture, Media and Sport (DCMS), the measures are aimed at helping [...]
New concept designs for Smithfield East & West Market buildings and Rotunda unveiled January 7, 2021 The City of London Corporation has revealed the first images of new concept designs for turning these special buildings into a new food and cultural destination for all Londoners. The new images, which have been put together by architects Studio Egret West, show how the buildings could be used in the future – helping to [...]
Why high street discounts are a dangerous drug December 17, 2019 Retailers love to brag about breaking records, but one they won’t be cheering this Christmas is the prediction that price cuts could potentially top 50 per cent for the first time ever. Amid a fierce fight to woo last-minute shoppers into their stores, high street chains are once again turning to a festive sales bonanza [...]
Not as easy as 1,2,3: Seven accounting errors that rocked FTSE firms January 22, 2020 Ted Baker today experienced the dubious honour of joining a list of FTSE firms that have been shaken by accounting errors in the past year. The fashion retailer revealed an accounting error was more than twice as bad as it previously thought, knocking shares down seven per cent. But it is by no means the [...]
High street redundancies: Which retailers have cut jobs in the pandemic so far? February 13, 2021 Thousands of high street jobs have evaporated during the coronavirus pandemic, as retail chains have fallen under the pressure of lockdown restrictions on trading. The UK high street, which was already struggling before the pandemic, is set to look very different when shoppers return after lockdown following high profile collapses that have cost many retail [...]
Regulator calls for early interventions in poor audits to help stop scandals May 6, 2020 The audit regulator today called for accountancy firms to flag poor quality audits sooner to help prevent corporate scandals. The Financial Reporting Council (FRC) said tools for spotting signs of poor quality audits should be used more effectively, following a major review of their use. Last year all of the UK’s leading accounting firms failed [...]
JP Morgan moves London staff amid coronavirus outbreak March 5, 2020 JP Morgan is sending some employees to backup locations to reduce disruptions if employees are exposed to coronavirus. In a memo sent to staff, head of sales Marc Badrichani and head of trading, Troy Rohrbaugh, said the company has “started to test and implement alternative working arrangements for employees in New York and London”. “Dividing [...]
Government appoints advisers to oversee outsourcers amid fear of Carillion-style collapse February 23, 2020 The government has reportedly appointed advisers to monitor the health of important outsourcers such as engineering company Kier. The Sunday Telegraph reported that the Cabinet Office has hired accountancy firm Deloitte to assist in assessing the finances of key contractors. The move follows the collapse of outsourcer Carillion in 2018. The Cabinet Office, which employs [...]
Ted Baker lenders appoint advisers to review prospects January 8, 2020 Ted Baker’s lenders have appointed advisers to review the struggling high street retailer’s prospects. Lenders including Barclays and Royal Bank of Scotland have lined up restructuring experts FTI Consultants to lead an independent business review to explore the health of the company, Sky News reported. The review could take several weeks, and may lead to [...]
Eddie Stobart lines up administrators ahead of vital vote December 4, 2019 Troubled trucking company Eddie Stobart has reportedly lined up Deloitte to act as its administrator ahead of a shareholder meeting that will decide on its future on Friday. Shareholders are set to vote on whether to approve a £55m financing package from former owner Dbay Advisors. The Telegraph reported that if shareholders reject the deal, [...]