Stationery chain Office Outlet falls into administration March 19, 2019 Office Outlet, the stationery retailer formerly belonging to Staples, has collapsed into administration, putting 1,000 jobs at risk. In the latest sign of industry stress on Britain's high streets, the retailer yesterday drafted in administrators from accountancy firm Deloitte, throwing the future of 1,000 jobs and 90 stores into doubt. The stationary giant approved a controversial restructuring [...]
Stop overlooking small businesses – they can be a massive force for good March 18, 2019 Small and medium-size enterprises (SMEs) make up 99 per cent of companies, and employ 60 per cent of private sector workers in the UK. And yet, they are often overlooked when we talk about responsible business. When SMEs take action on responsible business, they make a huge difference to London’s communities, to our environment, to [...]
New Deloitte legal boss says the Big Four firm can become a ‘significant player’ in the £26bn UK market March 10, 2019 The new head of Deloitte’s legal arm says he wants the Big Four firm to become a “significant player” in the UK’s £26bn legal market. Michael Castle, who joined Deloitte last month from Allen & Overy to lead its new UK legal venture, told City A.M. that the firm is poised to “transform the legal landscape”. [...]
A market cap is the quickest way to inject some competition into audit March 7, 2019 As you read this, the Kingman review, the Competition and Markets Authority review, the Brydon review, and the Business, Energy and Industrial Strategy Select Committee are all scrutinising the audit profession following a series of high-profile scandals. Failures such as Carillion, BHS, and Patisserie Valerie present very different problems, but each case rightly led to [...]
City Moves for 5 March 2019 – Who’s switching jobs at Co-op, Deloitte and Hunters? March 5, 2019 Today's City Moves cover the Co-op Group, Deloitte and Hunters. Take a look at these movers and shakers. Co-op Group Central England Co-op has welcomed its new chief executive Debbie Robinson on her first day with the society. Debbie was appointed in November last year and will oversee one of the largest independent retail co-operative [...]
Top financial PR firm cuts ties with Sir Philip Green amid conduct allegations February 27, 2019 Sir Philip Green’s financial PR firm is set to jump ship tomorrow in the latest corporate blow to the embattled mogul, just days after Baroness Karren Brady quit as chair of his retail empire. City A.M. understands that Green’s communications consultancy Maitland/AMO is ending its relations with the scandal-hit tycoon tomorrow evening amid mounting public [...]
Government departments spend more than £100m on Brexit consultant contracts February 23, 2019 The UK government has contracted outside help on Brexit in deals worth £107m since the 2016 EU referendum. The majority of that money has been spent on consultancy work, with more than £90m given to companies specialising in those services ahead of the UK’s exit from the European Union. There are six companies receiving contracts [...]
Despite Brexit uncertainty, City links across the Irish Sea continue to flourish February 11, 2019 Amid the ongoing debate about the Irish border and the Brexit backstop, it would be easy to lose sight of the City’s flourishing links across the Irish Sea. Both Northern Ireland and the Republic of Ireland share a long history with the Square Mile. These ties have grown in recent years as the City Corporation [...]
Liverpool post record revenues as pre-tax profits hit £125m February 8, 2019 Liverpool Football Club made a pre-tax profit of £125m after posting record revenues for the financial year ending 31 May 2018. The club saw revenue increase to an all-time high of £455m, with pre-tax profits growing by more than 300 per cent from £40m to £125m, according to the club's accounts. Liverpool's turnover increased by [...]
Big Four accountants push back against breakup proposals February 7, 2019 The Big Four accountancy firms have fired back at the competition regulator’s proposal to break-up their UK operations. In their responses to the Competition and Markets Authority’s (CMA) outlines for shaking up the audit market, Deloitte, EY, KPMG and PwC all resisted a suggested split. David Barnes, managing director for public policy at Deloitte UK, [...]