RBG Holdings shares plummet after professional services firm fires chief executive January 31, 2023 Shares in RBG Holdings today plummeted by more than nine per cent after the troubled professional services group said it had fired its chief executive. The AIM-listed professional services conglomerate said in a statement that its board has “lost confidence” in chief executive Nicola Foulston as it stated her “employment contract has been terminated with [...]
KPMG UK revenues soar to £2.72bn as chief rules out split January 31, 2023 KPMG’s UK business today posted double digit revenue growth for the second year in a row on the back of fast-paced expansion in its consulting and M&A deals advisory divisions. In an interview with City A.M., KPMG UK’s chief executive said the “very strong financial performance” signalled the strength of KPMG’s “multidisciplinary” model, as he [...]
UK unemployment figures could be three times higher than official figures with an ‘army of missing workers’ not accounted for – report January 31, 2023 The UK’s unemployment rate could be three times higher than government figures show due to widespread “hidden unemployment,” a report has warned. Official figures published by the UK’s Office for National Statistics (ONS) show there are just 1.2m unemployed people in Britain, leading to an unemployment rate of 3.7 per cent. However, the Centre for [...]
Law firm Ince’s shares to remain suspended after further results delay January 31, 2023 The listed law firm Ince announced this morning it has further pushed back the publication of its results for the last financial year. Ince told markets this morning that auditors BDO have “informed the company that they require additional time to conclude their audit procedures.” That means the publication of the firm’s annual report for [...]
UK receives lowest ever score on corruption index as Britain’s reputation suffers after a string of political scandals January 31, 2023 Britain has received its lowest ever score and ranking on Transparency International’s annual Corruption Perceptions Index (CPI). The drop “is a powerful indictment” in the decline in public standards, campaigners say, which have been dragged down by a series of recent government scandals around the procurement of PPE during pandemic and multiple ministerial breaches. The [...]
Howden’s revenues jump 60 per cent as insurance broker looks to capitalise on ‘very turbulent’ market January 30, 2023 Insurance broker Howden today posted “record” results for 2022, reporting a 60 per cent increase in revenue, with its chief executive adding that the firm was primed to further profit from the economic uncertainty heading into 2023. The insurance broker’s chief executive David Howden told City A.M. has said the London firm is primed to [...]
Is this the end of law firm IPOs? January 30, 2023 British law firms have traditionally stayed away from public markets. Yet following a series of IPOs over the past eight years, there are now six UK law firms listed on the stock exchange. Gateley became the first UK law firm to launch an IPO in 2015 after floating on London’s alternative investment market (AIM). In [...]
Direct Line boss James quits as another insurance firm counts the cost of the deep freeze January 27, 2023 Direct Line said it was seeking a new chief executive following the resignation of Penny James. James, who was also a director of the FTSE 250 company, will be leaving with immediate effect. Jon Greenwood, who was Direct Line’s chief commercial officer, will step in as acting chief executive officer until a permanent replacement is [...]
EY Germany likely to slash hundreds of jobs as Wirecard scandal fall out casts shadow over future profits January 26, 2023 EY’s German arm is planning to cut 40 partners and 380 staff as it attempts to boost profitability in the wake of the Wirecard scandal. The Big Four accounting firm’s German business is in talks to ditch hundreds of jobs after top audit clients including Commerzbank, DWS, and KfW pulled away from the firm following [...]
Serious Fraud Office: Osofsky backs government’s plan for new ‘failure to prevent’ fraud offence January 25, 2023 The director of the UK’s Serious Fraud Office (SFO) has backed plans for a new ‘failure to prevent’ fraud offence, after government ministers today confirmed the offence would make its way on the statute books. SFO chief Lisa Osofsky said government plans to introduce a failure to prevent offence for fraud has the “potential to [...]