CMA chair Tyrie was ‘forced to step down’ after row with directors June 28, 2020 The chairman of the UK’s competition watchdog was forced to step down three years early after a stand-off with the firm’s chief executive, according to reports. Lord Tyrie, who last week announced he would stand down as chairman of the Competition and Markets authority (CMA) in September three years earlier than planned, had fallen out [...]
Scandal-hit NMC Health appoints heavyweight advisers for talks with lenders March 2, 2020 Scandal-ridden healthcare company NMC Health said today it had appointed a string of heavyweight advisers for talks with its lenders. NMC said it had hired investment bank Moelis & Co to act as an independent financial adviser, Big Four firm PwC to advise on operational issues and Magic Circle law firm Allen & Overy as [...]
Stress awareness month: How can we reduce stress? March 31, 2020 When was the last time you felt stressed? Probably recently. According to a 2018 YouGov study, in the previous year, 74% of people felt so stressed they have been overwhelmed or unable to cope. The latest estimates from the Labour Force Survey show that the total number of cases of work-related stress, depression or anxiety [...]
PwC offers muted support for audit market caps and increased oversight November 15, 2018 Britain’s biggest auditor has offered equivocal backing to a range of sector reforms, including a cap on market share for firms and more independent oversight of audit appointments. PricewaterhouseCoopers (PwC), the largest of Britain’s Big Four auditors, told the Competition and Markets Authority (CMA) a limit on the number of top firms any single auditor [...]
Coronavirus: Chinese data to show devastating slump April 12, 2020 Analysts are predicting that new data released this week could show China’s first-quarter GDP falling by as much as 10 per cent. With the virus originating in the country, it was the first to be hit by the widespread economic disruption that has become the norm in most developed countries. Speaking to the Sunday Times, [...]
Business heavyweights sign on to Covid-19 business pact April 2, 2020 Some of the UK’s largest companies, including BP and RBS, have signed up to a pledge to provide extra support their employees and customers through the coronavirus. Former cabinet secretary Justine Greening created the initiative, called the C-19 Business Pledge, and involves companies promising to offer things like financial security advice and mental health help [...]
Consumer optimism rises to five-year high January 28, 2020 Consumer optimism for the coming year has jumped to a five-year high due to increased political certainty, according to the latest research. More UK consumers believe they will be financially better off over the next 12 months than worse off, as net sentiment has jumped from minus seven to three for the first time in [...]
Third of UK audits fail accounting watchdog’s quality tests July 14, 2020 Britain’s accounting watchdog today said that a third of audits by the UK’s seven main accounting firms failed quality tests this year, amping up pressure for widescale reform in the sector. The Financial Reporting Council (FRC) said 29 of 88 audits carried out by Deloitte, PWC, EY, KPMG, BDO, Grant Thornton and Mazars this year [...]
Why City PR firm Cicero is getting back to the office August 19, 2020 As offices around central London prepare to welcome some staff back to work, the need for employers to instil confidence in their coronavirus safety measures is paramount. At City lobbyist firm Cicero, over 80 per cent of employees have already been back to the office at some point since lockdown restrictions began to ease in [...]
Can the government hit the targets in its 10 point climate plan? November 18, 2020 Last night Boris Johnson unveiled his much-touted 10 point plan to drive a “green industrial revolution” in the UK, creating 250,000 jobs in the process. Featuring commitments in sectors such as heating, wind power, nuclear energy, hydrogen and electric vehicles, it has been largely positively received by industry. However, some are concerned that some areas [...]