Why pursuing my side hustle as a rally car driver helped me get promoted November 13, 2019 I expected my professional career to stall when I became a part-time rally car driver — but in fact, the opposite occurred. I have now worked at EY for a decade, and have been a rally car co-driver for nearly 17 years, managing a dual career with competing priorities. Shortly into my role as a [...]
Four charts that explain the UK economy’s latest slowdown November 11, 2019 Annual growth in the UK economy fell to its slowest pace in nine years in the third quarter, data showed today, although the country avoided slipping into a recession. Read more: UK avoids recession but annual growth hits slowest pace in a decade “This slowdown follows not only Brexit uncertainty at home, but a weaker [...]
Salaries for UK financial services workers jump amid competition for talent November 11, 2019 The average salary for UK financial services workers jumped to £53,000 in the second quarter amid competition for talent. Data released today by recruitment software provider Broadbean showed the average salary for financial workers in the first quarter rose to £48,500 before climbing to £53,000 in the second quarter. The increase in salaries comes despite [...]
Watchdog says accountancy firms failing to challenge management of firms they audit November 5, 2019 Audit watchdog the Financial Reporting Council (FRC) today warned that the top firms were failing to be robust enough in challenging management of the companies they audit. The audit sector is in the political and regulatory spotlight following company failures such as the collapse of travel agent Thomas Cook and outsourcer Carillion. The FRC today [...]
New car sales continue downward slide as consumer confidence remains fragile November 5, 2019 New car registrations fell 6.7 per cent in October, figures released today showed. Private demand plunged 13.2 per cent, while fleet demand remained stable, according to data from the Society of Motor Manufacturers and Traders (SMMT). The SMMT said 10,348 fewer cars were registered than in October last year, which it said reflected a tough [...]
Thomas Cook collapse: MPs slam government inaction and lack of audit reform November 4, 2019 Business secretary Andrea Leadsom has come under fire from MPs for “the extraordinary lack of interest” she showed in Thomas Cook in the run-up to its collapse, amid growing calls for wide-ranging regulatory reform. In a scathing conclusion to the business select committee’s (BEIS) review into the travel giant’s liquidation, MPs expressed their frustration that [...]
UK economy to hit decade-low even with Brexit deal, report warns November 4, 2019 Boris Johnson’s Brexit deal will fail to boost the slowing UK economy in 2020, a new report has warned, with weak global growth and continued uncertainty about Britain’s trading relationships set to outweigh any benefits from the agreement. Read more: Nigel Farage: Brexit party will run in every seat if Boris Johnson rejects olive branch [...]
EU mulls new anti-money laundering body following scandals October 31, 2019 The EU is set to explore the creation of a new central authority to tackle money laundering after a series of high-profile scandals highlighted the bloc’s weakness in preventing dirty cash flowing through its banks. Finance ministers from EU countries are expected to mandate the European Commission to recommend a new “independent” enforcement body with [...]
Mortgage approvals boosted as buyers rush ahead of Brexit October 29, 2019 Mortgage approvals were boosted last month as prospective buyers rushed to complete home purchases ahead of the 31 October Brexit deadline date. The latest figures from the Bank of England (BoE) showed mortgage approvals for house purchases reached 65,919 in September after falling to a three-month low of 65,681 the previous month. Read more: New [...]
Government faces calls for reform as data shows dominance of Big Four audit firms October 29, 2019 Data published yesterday by the audit watchdog showed that the Big Four accounting firms increased their market share of the UK audit market in 2018. The lack of competition in the sector has come under the microscope following scandals such as the failures of outsourcer Carillion and department store BHS which both received clean bills [...]