It’s a thumbs up from the City: Over half of bankers think the Senior Managers’ Regime was a good idea March 6, 2017 Bankers have given their blessing to a recently introduced set of rules designed to increase personal accountability, the next tranche of which is due to take effect tomorrow. Over half (55 per cent) of nearly 200 senior finance execs polled by Duff & Phelps think the Senior Managers' and Certification Regime, which first came into force last [...]
Aim-quoted TLA Worldwide reveals $237m home run of contract negotiations in record off-season March 6, 2017 A UK-based athlete agency has netted $237m (£193m) of baseball contracts during Major League Baseball's off-season, growing its business by more than a third. Aim-quoted firm TLA Worldwide revealed its record figures today in advance of the 1 April start to the regular season in North America. TLA represents a host of sportstars from around the world, also including [...]
More KPMG partners follow Richard Fleming to Alvarez & Marsal in a bid to break the Big Four’s stranglehold March 6, 2017 One year has passed since KPMG big-hitter Richard Fleming shocked the City by walking out on the consultancy giant. Fleming officially joins rival Alvarez & Marsal this month. The firm moved for him and two other partners in early 2016 after KPMG rejected a bid from Alvarez & Marsal for the Big Four giant’s restructuring business. Today, the [...]
Aviva and Legal General set to report profit rises March 5, 2017 Insurers Aviva and Legal & General are expected to report profit rises when they report on Wednesday and Thursday respectively next week. Analysts expect Aviva’s full-year operating profits to rise 8 per cent to £2.9bn and Legal & General is likely to advise operating profit increases of £1.6bn, an increase of 13 per cent, compared [...]
The real business rates scandal is that the government is abolishing accuracy March 3, 2017 How much income tax should you pay? The question is not about the tax rate but the accuracy of the amount. Should HMRC take from you a sum which, plus or minus a margin of error, reflects your earnings, investments and reliefs? Or should your contribution be an accurate assessment? Why settle for anything less [...]
Judge mulling whether RBS Global Restructuring Group case should get the go ahead March 2, 2017 A judge is now considering whether a closely-watched case focusing on the Royal Bank of Scotland's Global Restructuring Group (GRG) should go ahead, after a hearing debating its merits drew to a close. Neil Mitchell is seeking legal action against the bank, as well as KPMG and Cerberus, over the way Torex Retail, the software company he [...]
KPMG names new UK chairman, who reveals his people priority March 2, 2017 KPMG's new UK boss today revealed his main priority when he formally takes over later this year: to attract the best and the brightest people in order to drive the firm forward. The Big Four firm unveiled Bill Michael, previously the head of its banking audit division, as the person to succeed outgoing chairman Simon Collins. [...]
TfL tells court: Our English tests for Uber drivers might be excessive, but it’s the best we have March 2, 2017 Lawyers for Transport for London (TfL) today told a court it is aware the testing it is proposing for private hire drivers, like Uber drivers, might be considered excessive, but it doesn't have a suitable alternative. Uber is challenging the legal basis for rules proposed by TfL which would require private hire drivers to take a [...]
Capita chief executive falls on his sword as profits drop by a third March 2, 2017 Shares in troubled outsourcing giant Capita fell today after its chief executive, Andy Parker, stepped down – and profits fell by a third. Shares were down 7.9 per cent at 520.1p in late morning trading after the company, which administers the London congestion charge and TV licencing among many other things, said today Parker will step down later this year, [...]
PwC auditors involved in the Best Picture mix up unlikely to work at the Oscars again March 2, 2017 The auditors behind the Oscars Best Picture mix-up will likely never tread the red carpet again, the president of the Academy of Motion Picture Arts and Sciences has said. PWC’s Brian Cullinan and Martha Ruiz will not reprise their starring roles administering the vote, Cheryl Boone Isaacs told the Associated Press. PWC could still lose [...]