Further tax rises ‘a good bet’ after Chancellor’s borrowing blow Economics Borrowing in the month of December was at its third highest level since monthly records began back in 1997, excluding only the pandemic and 2009.
Rising wages hit British strawberry growers Business The British berry growing industry has warned its future is under threat despite its value rising to £2bn for the first time. According to industry body British Berry Growers, rising energy costs and wage increases will continue to create ‘challenging circumstances’ for fruit farmers in 2025. The latest warning comes after the British Berry Growers [...]
Car insurers set to return to profit following record losses Transport and infrastructure A report from accountancy giant EY estimates car insurers paid out 93p in claims and expenses for every £1 made in premiums in 2024.
Hunton Andrews Kurth raids EY for team of nearly two dozen lawyers December 10, 2024 Nearly a dozen lawyers have joined the City office of US law firm Hunton Andrews Kurth from Ernst & Young legal services arm, EY Law
Asda needs to ‘dig down into its soul’ and recover sense of purpose, say analysts December 9, 2024 Asda needs to “dig down into its soul” and reshape its pitch to customers if it wants to tackle the rising threat from the likes of Aldi and Lidl following a rollercoaster 2024, analysts have warned. The Leeds-headquartered supermarket giant has not been far from the headlines all year amid debt struggles, strikes, falling sales [...]
Big Four UK: 900 redundancies and counting over 2024 December 5, 2024 Over 900 roles were made redundant at the UK Big Four firms over 2024, as the accountancy giants lit up the headlines for a second year running
EY to cut 150 UK consultants as division head steps down December 1, 2024 Big Four accountancy firm EY is set to cut 150 roles in its UK consultancy division and replace one of its most senior executives amid a slowdown in demand. Cuts in the 4,700-strong unit are expected to impact managers, senior managers and directors, it is understood, which are the highest-paid roles below partner level. Meanwhile, [...]
Typhoo Tea: Jobs at risk as historic brand nears collapse November 15, 2024 More than 100 jobs are at risk after it emerged that Typhoo Tea is on the verge of collapsing into administration. The Bristol-headquartered business, which can trace its roots back over a century, is lining up EY to oversee the process after filing a a notice of intention to appoint administrators. In an interview with [...]
Mortgage lending growth set to double next year as inflation eases and rate cuts loom May 9, 2024 UK mortgage lending growth is set to more than double in 2025, according to a major economic forecasting group, as inflation eases and the Bank of England is expected to cut interest rates this year.
PwC and EY handed multimillion-pound fines for London Capital & Finance audits May 7, 2024 Three firms, including PwC and Ernst & Young (EY), have been handed fines by the accounting watchdog for their audits of London Capital & Finance (LCF), a minibonds firm which took money from almost 12,000 investors before collapsing in 2019.