KPMG boss confident in Carillion audit despite partner suspension January 30, 2019 KPMG’s UK boss said the firm remains confident in the quality of its audit work for collapsed construction firm Carillion, despite suspending a partner over concerns related to falsified documents. Earlier this month, the Big Four audit confirmed it had suspended the top audit partner Carillion, Peter Menshan, along with three other non-partner members of [...]
Westminster City Council to spend £28m tackling traffic and air pollution along the Strand January 30, 2019 Westminster City Council has pledged £28m to tackle the traffic jams and air pollution plaguing the Strand and transform the area into a “world-class cultural and learning quarter”. The local authority plans to address the “poor public spaces and safety” and traffic congestion around the Strand Aldwych, seeking feedback from the public as it develops its [...]
Metro Bank shares plunge after warning on UK operating environment January 30, 2019 Shares in Metro Bank fell more than 10 per cent this morning after the challenger bank felt the ripple effect of Banco Santander’s cautionary comments on the UK market. In its full-year results this morning Banco Santander said the UK’s operating environment is “competitive and uncertain”, dragging down the share price of Metro Bank which [...]
Venezuela braced for more protests as Maduro rules out snap election January 30, 2019 Venezuelan president Nicolas Maduro today said he is ready to negotiate with the country’s opposition but dismissed calls for a snap election. The socialist leader said calls for early elections amounted to blackmail and insisted a vote will not take place until 2025, RIA Novosti reported. Read more: Labour leadership accused of 'weasel words' over Venezuela [...]
EY and PwC ban consultancy for audit clients as MPs blast Big Four bosses January 30, 2019 EY and PwC said they will follow KPMG by phasing out selling non-essential extra services to their FTSE 350 audit clients. The chief executives of the two accountancy giants, half of the sector’s Big Four, informed MPs of their decision at a parliamentary hearing today, following months of intense criticism of Britain’s biggest bean counters. [...]
Santander UK profits slump 14 per cent in “uncertain” environment for banks January 30, 2019 Santander UK profits slumped 14 per cent last year as the bank struggled with cost pressures and an “uncertain operating environment.” The UK arm of the Spanish-owned bank cited competitive incomes pressures and higher regulatory costs for the year-on-year downturn. Profits fell by £247m to £1.57bn in 2018 and the bank’s “loyal retail customers” stood [...]
Institute of Directors’ chief leaves in wake of racism scandal surrounding ex-chair January 30, 2019 The director general of business lobby group the Institute of Directors has today said he will step down early, months on from a racism and bullying scandal that saw the resignation of the organisation’s chair. Stephen Martin, who had led the IoD since February 2017, is stepping down with a year to run in his [...]
Staffline startles investors with results delay, shares plummet January 30, 2019 Recruitment support services company Staffline spooked investors into a mass sell-off today by delaying the publication of its full-year results without giving a reason. The AIM listed firm announced this morning it would provide a further update as soon as possible, sending shares into a nosedive. Staffline’s stock was 32 per cent down this afternoon. [...]
More customers leave TSB than any other bank, data shows January 30, 2019 More customers abandoned TSB in the third quarter of last year than any other bank, according to the latest data, while Nationwide gained the most new accounts. TSB, which suffered two major IT outages in 2018, saw net losses of 16,142, followed by Natwest which lost 12,514 accounts overall. A total of 40, 656 customers moved their [...]
Lending to consumers slows as credit card borrowing falls amid Brexit uncertainty January 30, 2019 Lending to British consumers grew at its slowest rate in four years in December, as credit card borrowing fell sharply in the run up to Brexit. Annual consumer credit growth slowed to 6.6 per cent, the Bank of England said. Credit card borrowing was “particularly weak”, the bank said, and households put more money into [...]