PwC acquires Edinburgh-based consultancy Praxism UK to strengthen its cyber security offering January 25, 2016 Professional services firm PwC has today announced that it is acquiring consultancy Praxism UK to strengthen its cyber security offering. The Edinburgh-based consultancy company was founded in 2008 and specialises in identity and access management. Praxism's 13 employees, along with the company's founder and director Derek Gordon, will mostly be joining PwC's Edinburgh office, although one specialist will [...]
With just one week left until self-assessment tax return deadline day, people confess they’d rather undergo a trip to the dentist’s chair than fill out their tax forms January 24, 2016 Unbelievably, there is something people dread more than a trip to the dentist's office, and you don't even get a sticker and a lollipop for good behaviour afterwards. According to a survey by Which?, 38 per cent of people loathe completing their tax return more than they do going to the dentist. Other tasks people would [...]
UK pensions: Flat rate pensions tax relief would be “fairer” and encourage people to save more for their retirement, but pensions ISA would be a bad idea, says industry body January 24, 2016 A single rate of pensions tax relief would make the system simpler, fairer and more sustainable, according to a statement made by the Association of British Insurers (ABI) over the weekend. The ABI, which has been calling for reform to higher rate pension tax relief since 2013, has urged government to consider introducing what it [...]
Job interview questions from some of the UK’s top accountancy firms, including PwC, Deloitte, KPMG and EY January 20, 2016 If yesterday's banking interview questions left you in a tizzy, maybe accountancy is more your cup of tea. City A.M. went back on careers website Glassdoor.com to find out just what calibre of questions wannabe bean counters and spreadsheet drafters could expect from their potential employers. PwC Senior accountant: If you were to be re-incarnated as an animal, [...]
Manufacturers in the south east of England see M&A boom thanks to interest from overseas buyers January 20, 2016 Manufacturers in the south east of England are attracting the attention of overseas investors, sparking a surge in M&A activity. According to figures shown exclusively to City A.M. today by law firm Irwin Mitchell, which were based on analysis of data from Experian, M&A deals in the manufacturing sector grew by five per cent in [...]
KitKat’s four-finger shape cannot be a trademark says High Court in latest step in Nestle’s intellectual property battle January 20, 2016 Confectionery company Nestle suffered yet another knock today in its ongoing intellectual property battle against Cadbury after the High Court ruled that its four-finger KitKat design could not be registered as a trademark. The High Court decision follows a ruling last September from the Court of Justice of the European Union. The European court determined that, [...]
Twitter share price breaks a new record but not in a good way, falling to a new low of under $16 within an hour of the New York market opening January 20, 2016 Just when you thought the Twitter share price couldn't fall any lower, it only goes and breaks the $16 mark. After closing on the New York Stock Exchange yesterday at an all-time low of $16.69, Twitter's shares have continued to tumble today, dipping below $16 within an hour of the market opening. Shortly after 3pm London [...]
Zurich share price plunges as it warns losses from storms Desmond, Eva and Frank will hit $275m January 20, 2016 Zurich Insurance Group today announced estimated losses from storms Desmond, Eva and Frank will hit $275m (£194m). Because of the large amount of payouts the company is expecting to make in relation to flood damage, as well as other recent natural disasters, it also warned of a fall in operating losses for its general insurance business in the fourth quarter of 2015. [...]
Swiss Market Index plummets, down 3.5 per cent mid-morning January 20, 2016 The Swiss Market Index (SMI) fell dramatically this morning, down 3.5 per cent by mid-morning to 7,938.86, from a previous close of 8,223.76. Particularly poor performers included Zurich Insurance Group, which fell 8.4 per cent, offshore drilling company Transocean, which dropped 5.4 per cent, and Credit Suisse Group, which tumbled 4.8 per cent. Zurich's announcement [...]
AA to run-off AA Law, its Alternative Business Structure run by Lyons Davidson January 20, 2016 AA has effectively placed its Alternative Business Structure (ABS) venture, AA Law, into run-off, City A.M. can confirm. The breakdown cover provider has decided that the number of customers using AA Law, which was originally set up as a joint venture with solicitors firm Lyons Davidson, does not justify running it as a standalone business. While Lyons [...]
