EY appoints audit chief to run UK and Ireland business March 12, 2020 EY has picked its audit chief to run its UK business, continuing the Big Four’s woeful record of senior female leadership. Hywel Ball, who has been with the firm for 35 years, was today appointed as UK and Ireland managing partner from 1 July, succeeding Steve Varley. Ball’s selection over potential female candidates continues the [...]
Savills profit jumps after UK post-election bounce March 12, 2020 Property advisor Savills reported a jump in full-year profit as a surge in UK business after the general election helped to offset Brexit uncertainty and disruption in Hong Kong. The figures Group revenue increased ten per cent to £1.93bn driven by a strong performance and profit before tax increase six per cent to £115.6m, compared [...]
The government should keep calm, focus on facts, and commit to a Covid-19 strategy March 12, 2020 If ever there were a case of Man proposes but God disposes, the Covid-19 outbreak would fit the bill. A subject that was not even in the popular lexicon at the turn of the year has become our only topic du jour. If this continues for much longer, we may soon be dividing time into [...]
2020 Budget live: City reacts to Rishi Sunak’s spending plans March 11, 2020 Welcome to City A.M.’s 2020 Budget Day live blog. Please refresh your browser for live updates. Chancellor Rishi Sunak is expected to address fears over the economic impact of coronavirus, and announce waves of new infrastructure spending and changes on taxation in his 2020 Budget. It comes after Bank of England governor Mark Carney earlier [...]
Kin and Carta loss widens as acquisition costs weigh March 11, 2020 Digital transformation firm Kin and Carta today reported a wider loss as acquisition and restructuring costs weighed on growth. The London-based firm posted a pre-tax loss of £5.9m in the six months to the end of January, compared to a £1.6m loss the year before. Like-for-like revenue also slipped 0.5 per cent to £89.6m over [...]
Budget 2020: Stamp duty hiked for overseas buyers March 11, 2020 The government will go ahead with plans to increase stamp duty for overseas buyers, chancellor Rishi Sunak announced today. He said the government will introduce a new stamp duty surcharge of two per cent for foreign buyers to make it easier for domestic buyers as part of a range of measures to tackle the housing [...]
Puma scraps coronavirus guidance as outbreak spreads March 11, 2020 German sportswear giant Puma scrapped previous coronavirus guidance this morning, saying that its business will not return to normal in the short term. Puma had previously said it expected sales and profits to decline in the first quarter after it was forced to temporarily close stores in China, where the outbreak began. However, today the [...]
Michael Gove: Coronavirus might derail Brexit trade talks with EU March 11, 2020 Michael Gove has admitted coronavirus could derail the next round of trade talks with the EU amid “specific public health concerns”. Asked what impact the outbreak of the disease, which has led to the whole of Italy being put into lockdown, would have on the Brexit talks, the Cabinet Office minister told MPs it was [...]
Businesses urge Chancellor to introduce tax incentives to address trade challenges in a post-Brexit world March 11, 2020 Ahead of the Budget, the views of over 500 finance professionals from across the UK were canvassed to find out what policy initiatives the Chancellor should announce to provide an economic boost to a post-Brexit Britain, and to understand the biggest threats to the country’s tax competitiveness. The survey, conducted by EY, reveals that one-third [...]
Budget 2020: How Rishi Sunak will tackle coronavirus and hike spending March 11, 2020 Chancellor Rishi Sunak is set to unveil the 2020 Budget today after the Bank of England’s shock move to slash UK interest rates. Just four weeks into the job, Sunak has spent the last 27 days planning to hike public spending. Record investment would see the government mark the end of austerity. But he is [...]