Schroders promotes former PwC executive to top job as Harrison steps down September 10, 2024 Schroders has confirmed the promotion of its finance chief to the top job today as long-time boss Peter Harrison prepares to step down in November. In a statement to the market, the FTSE 100 asset manager said Richard Oldfield, who has served as chief financial officer since last year, will take over the reins from [...]
PwC UK orders staff to spend more time in office and meet clients in person September 5, 2024 PwC UK has ordered staff to spend more time in the office and meet clients in person, as the accounting giant becomes the latest firm to adopt tighter rules on working from home. The Big Four firm told its employees and partners on Thursday that its new hybrid working policy would require them to spend [...]
PwC China to be hit with ban over audit of collapsed property developer Evergrande August 22, 2024 PwC's Chinese entity is expected to be hit with a six-month business ban over its audit of collapsed Chinese real estate property developer Evergrande
PwC fined £15m by FCA after London Capital & Finance fraud failure August 16, 2024 PwC has been fined £15m by the Financial Conduct Authority after it failed to alert the regulator that London Capital & Finance (LCF) might be involved in fraudulent activity. In the first ever fine issued by the FCA to an audit firm, the watchdog said that PwC had encountered “significant issues” throughout their 2016 audit [...]
PwC faces lawsuit from property developer over ‘negligent’ tax advice August 16, 2024 PwC is facing a lawsuit from Revelan, a UK commercial property developer, alleging that the firm provided “negligent” tax advice that caused Revelan to face a £3m tax bill. Revelan, which was previously backed by US investment manager Ares, is seeking £6.6m from PwC, according to reports from the Financial Times. The company claimed that [...]
Carpetright owed almost £350m when it collapsed into administration August 14, 2024 Carpetright owed almost £350m when it collapsed into administration with the loss of more than 1,500 jobs before being rescued, it has been revealed. The Essex-headquartered carpet and tiling retailer was acquired by rival Tapi in July in a move that saved the jobs of more than 300 people and 54 stores. At the time [...]
PwC: UK media market set to overtake Germany as largest in Europe August 14, 2024 The UK is on track to dethrone Germany as Europe’s largest entertainment and media market next year, driven by a surge in internet advertising and a resurgence in cinema and live music, according to new PwC data. Despite a sluggish recovery from a flat 2023, the UK’s entertainment and media sector is forecast to exceed [...]
UK deal value skyrockets to £68bn as buyers pounce on bigger targets July 25, 2024 UK M&A value skyrocketed in the first half of 2024, rising by two thirds, despite the number of deals actually decreasing.
City accountancy firms KMPG, PwC, EY and Forvis Mazars react to audit watchdog overhaul July 17, 2024 All "welcomes" from the sector that it set to see its audit watchdog overhauled and reformed into a new regulator, which will have additional powers at its realm
UK gets another upgrade but Labour’s growth target looks ‘unlikely’, PwC says July 17, 2024 New forecasts from PwC suggest the UK will grow around one per cent this year, up from the 0.5 per cent projected by the firm at the end of last year.