There’s €1.1 trillion locked up in companies worldwide August 18, 2016 Businesses could pad out their cash position if they could unlock some of their easier to access assets, research out today has found. In a study of more than 13,000 businesses, PwC discovered companies across the world have €1.1 trillion (£950bn) in working capital, such as unpaid invoices and unsold inventory, which could potentially be better used. [...]
London police swoop on Sage employee amid fraud investigation August 17, 2016 The City of London Police arrested a Sage employee today at Heathrow airport on charges of conspiring to defraud the accountancy software maker. The woman was arrested in connection with an alleged fraud against the firm. She has since been bailed, the statement said. Read more: Sage Group transformation leads to revenue boost Over the weekend, [...]
Experts fight back against government’s tax avoidance proposals August 17, 2016 Accountants and lawyers have today pushed back against new tax avoidance proposals from the Treasury, arguing they risk punishing people for merely trying to do right by their clients. Earlier today, the Treasury laid out plans which would penalise advisers for offering information on how to sidestep tax, while a consultation run by HM Revenue [...]
Why spreadsheet skills alone won’t make the finance chiefs of the future August 17, 2016 For those looking to climb to the top of the finance career ladder, a good command of pivot tables on its own is no longer going to cut it, research out today shows. A survey of more than 500 finance directors, chief finance officers and senior partners by the Institute of Chartered Accountants in England [...]
Deutsche Bank head of retail calls for executive bonuses to be waived for second year running if results stay poor August 17, 2016 One of Deutsche Bank's key management members has urged that the executive team's bonuses be waived if the German lender continues to perform poorly. Retail bank head Christian Sewing has suggested the bank must place its investors concerns first, even if it means the upper-most management forgoing an annual sweetener for the second year running. [...]
Treasury committee chair Andrew Tyrie calls for prompt review on RBS share sale August 17, 2016 The chair of the Treasury Select Committee has today written to the National Audit Office (NAO), seeking a swift review on previous advice given on the government's sale of RBS shares. Andrew Tyrie has sent a letter to Sir Amyas Morse, comptroller and auditor general at the NAO, asking for the Morse's department to take a closer [...]
How Brexit chilled the jobs market this summer, as employers freeze up on professional hires August 16, 2016 For those who were hoping to polish off their CV during the summer holidays and find happiness in professional pastures new come autumn, recent statistics have been unwelcome. A study released this week by the Chartered Institute of Personnel and Development (CIPD) and Adecco discovered the proportion of employers expecting to increase their staffing numbers over [...]
Santander UK braces itself for bumpy road post-Brexit vote, as it considers what to do in a world of lower for longer interest rates August 16, 2016 The chief exec of the UK division of banking giant Santander has warned the UK economy slowed noticeably in the run up to June's Brexit vote, and it was unlikely to get rolling again any time soon. In the company's half yearly report, Nathan Bostock wrote that the slowdown in the UK economy was expected to continue [...]
