US job openings still high despite falling to 10.4m in August October 12, 2021 Although job openings in the US fell in August, they were still significantly high compared to previous years, against a backdrop of worker shortages. In the first time this year the number of new jobs available fell by 659,000 to 10.4m by the end of August, according to figures released by the US Labor Department [...]
Audit reform: FRC asks for power to cap Big Four’s audit clients October 12, 2021 The chief executive of the UK’s accounting watchdog has asked ministers for the authority to enforce a cap on the number of large companies that any one accountancy firm can audit, in an attempt to break up the dominance of the Big Four firms. Sir Jon Thompson went on to question the likelihood of the [...]
GSK waves goodbye to West London as breakup begins with new £120m HQ October 11, 2021 GlaxoSmithKline will move its global headquarters to a new £120m site, as the pharmaceutical giant prepares to split up its empire into two separate businesses. The company today announced plans for a shiny new £120m headquarters in Weybridge for its new independent consumer healthcare company. Remaining pharmaceuticals and vaccine staff will also relocate from the [...]
Jenny Watson: New chair of UK accounting regulatory board wants to be a driver of change October 11, 2021 Jenny Watson CBE, newly appointed as the chair to the regulatory board of the UK body of chartered accountants, the Institute of Chartered Accountants in England and Wales (ICAEW), is a woman on a mission: the former chair of the Electoral Commission wants to be a driver of change. “We already know that there is much [...]
UK business output falls to lowest level since lockdown October 10, 2021 Business output has shrunk to its lowest level of growth since the reopening of the economy as staff shortages and supply chain disruptions battered productivity last month. The closely-watched BDO Output Index suggests a slowdown across both manufacturing and services, falling more than five index points month-on-month to 100.69, effectively indicating average trend growth just [...]
Consumer confidence slips to pre-Covid levels as shoppers see supplies squeezed October 10, 2021 Consumer confidence has dipped to its lowest level this year, as inflation, the energy crisis and HGV driver shortages take their toll on the outlook to Christmas, according to a new report by PwC. Following record highs earlier in the year, consumer confidence saw a decline in almost every age, region and demographic category, and [...]
Mike Lynch extradition decision over $5bn fraud trial delayed October 10, 2021 The decision to extradite British entrepreneur Mike Lynch has been pushed to the end of the year after a judge delayed his decision in the separate $5bn (£3.7bn) case against Lynch by Hewlett-Packard. A draft decision, spanning over 1,000 pages, had been expected to be distributed to both Hewlett-Packard and Lynch by 24 September, according [...]
WeWork losses cast shadow over $9bn listing October 10, 2021 WeWork is set to report a loss of $1.5bn (£1.1bn) for this year, weeks before the company’s planned $9bn listing on the New York Stock Exchange, according to reports. City A.M. understands that the flexible office-space provider first made investors aware of its expected losses in an earnings report in August and again in an [...]
Burger King UK prepares for whopper £600m London listing October 10, 2021 Fast-food chain Burger King is preparing to float on the London Stock Exchange for around £600m, according to reports. Burger King UK is understood to be in advanced discussions with potential advisers, including Investec and Numis bankers, as the company readies itself to list next year, according to The Times, which first reported the news. [...]
Former Eversheds trainee solicitor stands trial for raping law student at house party October 8, 2021 A trial into alleged sexual assault by a former Eversheds Sutherland trainee solicitor has started. Tom Hagyard is being accused of raping a law student before sexually assaulting another female, while attending a house party – within weeks of joining law firm Eversheds Sutherland on a training contract in 2017, according to The Mail Online, [...]
