Audit resignations jump as sector faces regulatory pressure February 3, 2020 The number of audit firms to resign from jobs jumped last year as the sector comes under increasing regulatory pressure. Resignations have risen 21 per cent to 229 in 2018/19, up from 190 the previous year, according to the latest research by Thomson Reuters. The spike in resignations comes as audit companies are increasingly in [...]
UK households remain cautious on economic outlook, discretionary income and debt levels July 22, 2019 UK households remain concerned about their economic outlook, disposable incomes and debt levels, survey data out today shows. Deloitte’s consumer confidence index for the UK in the second three months to 30 June remained at a minus eight per cent – unchanged from the first quarter – but down four percentage points from the same [...]
Deloitte announces reduced UK partner promotions round June 5, 2018 Big four accountant Deloitte has announced a reduced 2018 partner promotions round with the number making the grade in the UK and north west Europe both dipping. Partner promotions in the UK fell five per cent from 57 last year to 54 in 2018. The number and percentage of new female partners in the UK [...]
Boohoo snaps up Karen Millen and Coast brands for £18m August 6, 2019 Fast fashion company Boohoo has bought the Karen Millen and Coast brands out of administration for £18.2m, putting more than 1000 jobs at risk as store closures loom. The online retailer said it made the acquisitions after Karen Millen entered administration this afternoon. Boohoo shares were up 6.65 per cent following the announcement. Read more: [...]
Links of London hoping for rescue offer as it rushes to find a buyer August 22, 2019 The future of Links of London is reportedly hanging in the balance this week as the British jewellery chain rushes to find a buyer. The embattled group’s owner is on the hunt for a rescue offer by next week, according to Sky News, with sources telling the broadcaster that it was “almost inevitable” any sale [...]
European direct lending investment on course for record year October 14, 2019 Investment by European direct – or non-bank – lenders is predicted to soar to record levels by the end of the year thanks to an increase in average loan sizes, but the number of deals struck is falling, new research has found. Direct lenders in Europe deployed €22.6bn (£20bn) in the first half of 2019, [...]
European companies could face upsurge in activist raids February 10, 2020 European companies could face an upsurge in activity from activist investors, analysis released today showed. One in 20 European companies with a market capitalisation of over $250m (£193m) have been targeted by activist investors in the past five years. This is half the rate (one in 10) for similar size companies in the US. The [...]
City Moves for 13 June – Who’s switching jobs? June 12, 2019 Today’s City Moves includes Firstport, Deloitte and EY. Firstport Residential property management company Firstport has appointed Heather Payne as chief technology officer. She will be responsible for Firstport’s digital transformation programme. Heather has spent her whole career successfully delivering digital transformation across multiple sectors. She was previously chief technology officer at Avon Cosmetics responsible for [...]
UK falls into worst recession after record 20.4 per cent GDP plunge August 12, 2020 UK GDP shrank a record 20.4 per cent in the second quarter to plunge the country into its largest recession on record as the coronavirus pandemic decimated economies around the world. According to the Office of National Statistics (ONS), the economy is now 22.1 per cent smaller than it was at the end of 2019. [...]
Manchester United shares dip as lack of Champions League football hits financials February 25, 2020 Manchester United today reported lower revenue and profit for the second quarter as its absence from the Champions League this season took its toll. Core earnings fell 31 per cent to £72m in the quarter to 31 December, compared to the same period last year. Revenue fell 19 per cent to £168m. The New York-listed [...]