Theresa May defends due diligence into scrapped contract ferry firm Seaborne February 13, 2019 Theresa May has claimed proper due diligence was carried out in the government’s aborted ferry contract with Seaborne Freight despite consultants saying they could not assess its finances. Pressed by Labour leader Jeremy Corbyn at prime minister’s questions today, May insisted “proper due diligence was carried out” in the procurement of a contract for ferrying [...]
Big Four accountants face Australian competition probe February 13, 2019 The Big Four accountancy firms face fresh global pressure as an Australian probe investigates whether they have operated as a cartel in the country. The Australian Competition and Consumer Commission (ACCC) contacted Deloitte, EY, KPMG and PwC late last year to request information, in order to determine whether a full inquiry is needed, the Australian [...]
Brexit minister denies that delaying Article 50 is government’s strategy February 13, 2019 Brexit secretary Stephen Barclay has pushed back against claims that the UK faces a choice between Theresa May's withdrawal agreement or a delay to Brexit. Last night, ITV reported that the Prime Minister’s chief negotiator, Olly Robbins, said MPs would be forced into a last-minute choice between May’s deal or a delay to Article 50, in [...]
City Moves for 13 February – who’s switching jobs at Spotahome, Improbable and DAC Beachcroft? February 13, 2019 Who’s on the move today? Spotahome Spotahome has appointed Cleo Sham, who helped grow Uber’s presence in China to become the ridesharing app’s largest market and led the EMEA operations for the American company, as chief operating officer (COO) to oversee the Madrid-based property technology company's global operations functions to spearhead fast-growth.Sham started up at [...]
The mood music is encouraging at HMV after it is saved by Sunrise February 12, 2019 Following in the footsteps of other beloved, well-known high street brands, HMV entered administration in 2018 ending decades of dominance over the UK music market. However, HMV was rescued from being consigned to history after being sold to Canadian retailer Sunrise Records last week (at least for now – HMV also went bust in 2013). [...]
City Moves for 12 February – who’s switching jobs at CMR Surgical, The Ozone Project and Deloitte? February 11, 2019 Who’s on the move today? CMR Surgical CMR Surgical, the British company developing a next-generation surgical robot, has announced the appointment of Ingeborg Øie as chief financial officer and member of the Board of Directors, effective from 25 February 2019. Ingeborg joins CMR Surgical from Smith & Nephew, the FTSE 100 global medical technology business, [...]
Utilitywise speaking to buyers as it looks for way out of financial woes February 11, 2019 Utilitywise’s 1,000 staff are waiting with bated breath as it speaks to investors over a potential £10m sale, which could keep the struggling company afloat. After failing to clinch the investment it needed from shareholders, the company put itself up for sale at the end of last month. Now it has confirmed that it is [...]
HSBC chair Mark Tucker set to head up influential City lobbyists TheCityUK February 11, 2019 The chairman of HSBC Holdings has emerged as the frontrunner to head the board at one of the City’s main lobby groups replacing fellow banker John McFarlane. Mark Tucker is set to be announced for the role at TheCityUK in the coming days as outgoing Barclays chairman McFarlane steps down in the spring, Sky News [...]
Bidders circle as Perenco looks to sell its southern North Sea oil fields February 11, 2019 Anglo-French oil company Perenco is considering a sale of parts of its UK portfolio in what would be one of the biggest deals in the North Sea for years. The company said it is reviewing its options in the southern North Sea, 16 years after first entering the basin. Read more: Private equity to snap [...]
Gupta accountants feel growing pains as company expands too quick for bookkeepers February 11, 2019 A string of companies owned by industrialist Sanjeev Gupta have delayed publication of their accounts as the tycoon is growing his business too fast for bookmakers to keep up. Almost two dozen subsidiaries linked to Gupta have used clever accounting to give them more time to file the information which they are required to supply [...]
