Financial services firms should treat operational resilience as ‘commercial imperative’, report says June 5, 2019 Financial services firms need to treat operational resilience as a “commercial imperative”, according to a report published today. The industry has to face threats ranging from climate change, cybercrime and complex supply chains to technological innovation and ageing legacy systems, the report said. The report from lobby group City UK and audit firm PwC said [...]
Audit firm BDO promotes 14 partners in the UK June 5, 2019 Accountancy firm BDO is promoting 14 new partners across the firm, it said today. BDO said it was adding the partners across its audit, tax, and advisory teams. Nearly 36 per cent of the new partners are women. The firm has added three new partners in its audit practice: Tracey Keeble, Laura Pingree and Steven [...]
Government must do more to protect UK from cyber attacks, MPs warn June 5, 2019 The government has not done enough to protect the UK from the growing risk of cyber attacks, MPs have warned. The influential Public Accounts Committee (PAC) today published a report criticising the government for not making sufficient progress in its cybersecurity strategy. Read more: Less than one per cent of cyber crimes lead to prosecution [...]
PwC invests £30m in audit quality but stops short of CMA report recommendations June 5, 2019 Big Four firm PwC said today it plans to invest an extra £30m in its audit practice as part of a package of measures intended to boost quality. PwC’s move comes amid intense scrutiny on the sector which has been rocked by scandals such as the collapse of outsourcer Carillion and the accounting scandal at [...]
Economy faces ‘upheaval and uncertainty’, says trade secretary Fox June 4, 2019 International trade secretary Liam Fox will tomorrow warn the world is facing a period of upheaval and economic slowdown. Speaking at the 100th anniversary of the UK Export Finance (UKEF), he will launch new initiatives aimed at backing small British exporters. Read more: Fox backs foreign secretary Hunt in bid for Tory leadership They will [...]
Non-Standard Finance abandons offer for Provident Financial June 4, 2019 Non-Standard Finance (NSF) will abandon its offer for Provident Financial, it said today, after regulators stamped out any hope of the deal going through. The Prudential Regulation Authority (PRA) told the company the enlarged group would not have enough capitalisation at current levels of shareholder acceptance. “Accordingly, NSF has decided, with the consent of the [...]
Government backs Cornwall space programme with £20m cash injection June 4, 2019 The government plans to throw £20m at Richard Branson’s space programme and a project for a spaceport in Cornwall. The project will bring 150 jobs and help the UK tap into a £3.9bn small satellite market by 2030. Cornwall Council said it will provide £12m, with nearly £8m coming from the UK Space Agency. While [...]
How Holland bounced back from World Cup and Euro qualification misery with the aid of their football talent factory June 4, 2019 Every so often a Dutch player capable of setting the world alight announces themselves on the international stage. And even more rarely a crop of them come through the ranks at the same time.
Airtel Africa to raise $750m in London listing June 4, 2019 Africa’s second-largest mobile operator Airtel Africa said today it intends to raise $750m (£591m) in a float on the London Stock Exchange. The telecoms group said it will pursue a premium listing on the main market of the stock exchange, meaning it will float at least 25 per cent of its shares. The group is [...]
Corbyn is a ‘negative force’, says Trump June 4, 2019 Donald Trump revealed he turned down a meeting with Jeremy Corbyn, describing the Labour leader as a “negative force”. The US president confirmed Corbyn had requested a meeting while Trump was in the UK on a state visit. Read more: NHS up for grabs in UK-US free trade deal, Trump says The Labour leader boycotted [...]