Private equity firms eye up challenger accountancy firm Cogital July 28, 2019 Several private equity groups are reportedly preparing bids on UK-based accounting firm Cogital, in a deal that could value the company at £1bn. European firms BC Partners, Permira, and PAI are preparing final bids alongside US-based Hellman & Freidman, according to the Financial Times Cogital was set up in 2016 by former Deloitte partner John [...]
UK mortgage approvals rise in June July 24, 2019 The number of mortgages approved in the UK reached one of it’s highest levels in the past two years in June. Last month the number of mortgages given the go-ahead for house purchases rose to 42,653 up from 42,407 in May and close to April’s two-year high of 42,792, according to data from UK Finance. [...]
Eurozone relapses as manufacturing downturn deepens July 24, 2019 Economic woes have deepened in the Eurozone as the manufacturing downturn hit a three-month low for July, according to a closely-followed measure of the industry’s health. Manufacturing output relapsed to fall to a score of 51.5 this month after two months of growth, IHS Markit’s Flash Eurozone Purchasing Managers’ Index (PMI) found today. Read more: [...]
‘Clouds gather’ for manufacturers as output hits lowest point since financial crisis July 23, 2019 British manufacturing output shrank at the fastest pace since the financial crisis over the last three months, according to research. Nineteen per cent of manufacturers reported that output rose while 30 per cent said it fell. This gave output a minus 11 per cent balance for the three months to mid-July. The Confederation of British [...]
Big four firm EY boosts diversity with new partner intake July 22, 2019 EY today announced that 57 people are to become equity partners at the professional services firm in the UK, of whom 34 per cent are women and 22 per cent are from black and minority ethnic (BME) backgrounds. Read more: EY continues expansion into law Earlier this year EY’s UK business set itself the target [...]
City Moves for 22 July – Who’s switching jobs at Kin + Carta, Liontrust and Public Sector Plc? July 22, 2019 Today’s City Moves includes Kin + Carta, Liontrust and Public Sector Plc. Kin + Carta Kin + Carta, the international digital transformation business, has announced that following a global recruitment process, it has appointed John Kerr as non-executive chairman designate. John will become chairman at the company’s annual general meeting in November, succeeding Richard Stillwell, [...]
Sterling suffers as public sector debt more than doubles to £7.2bn July 19, 2019 Sterling sank this morning as official data revealed public sector borrowing more than doubled to £7.2bn last month, blasting past economists’ forecasts to record the highest June total since 2015. The net borrowing figure is more than double the £3.3bn recorded this time last year, the Office for National Statistics (ONS) warned, and smashed a [...]
Voyager Air grounds plans for London Stock Exchange listing July 18, 2019 An aircraft leasing firm has stalled its planned initial public offering (IPO), becoming the second major company in a fortnight to put off its float in London. Voyager Air has halted its ambition to raise $200m ($160m) through an IPO on the London Stock Exchange, blaming “currently unfavourable” market conditions for the move. Read more: [...]
Will the Bank of England raise or cut interest rates after UK inflation data? July 17, 2019 UK inflation has grown at an annual rate of two per cent for the second month in a row, official statistics confirmed today. Read more: UK inflation stays at Bank of England two per cent target The consumer price index (CPI) figure is bang on the Bank of England’s target. It thinks two per cent [...]
London house prices suffer worst plunge in 10 years July 17, 2019 London house prices suffered a staggering 4.4 per cent annual drop in May, their worst annual drop since the financial crisis, public data revealed today. While UK house prices rose 1.2 per cent compared to May 2018, London house prices sank, the Office for National Statistics (ONS) revealed. Read more: UK house prices slip for [...]