Financial investment fraud cases jumped 74 per cent in 2018 April 29, 2019 Reported fraud cases related to financial investments rose 74 per cent to 6,890 last year, up from 3,950 in 2017. The most commonly reported cases were related to share and bond sales which saw an increase to 860 last year, up from 200 in 2017, and pyramid or Ponzi schemes, which saw an increase to [...]
UK economy’s strong start to year likely a ‘false dawn’, forecaster says April 29, 2019 UK economic growth will slow in the second half of the year after a strong start, according to economists at EY Item Club, as prolonged Brexit uncertainty and a global economic slowdown continue to bite. Read more: Prolonged Brexit process hurting UK economy, Goldman Sachs warns The economy is now predicted to grow at just [...]
Big Four could force judicial review into competition watchdog audit reforms April 28, 2019 Several of the Big Four accountancy firms could attempt to force a judicial review of the competition regulator’s proposals to shake up the sector. Earlier this month the Competition and Markets Authority (CMA) called for the introduction of joint audits, meaning companies would have to appoint one of PwC, EY, Deloitte or KPMG, alongside a so-called [...]
London Capital & Finance investors rage against the FCA, EY and PwC in stormy meeting April 24, 2019 Angry bondholders of collapsed lender London Capital & Finance railed against the Financial Conduct Authority (FCA) and accountants PWC and EY today at a packed meeting in City Temple church. Furious investors raged against the FCA, blaming it for failing to intervene in the regulated firm sooner. “We’ve been sold down the river!” One investor [...]
UK government public borrowing falls to 17-year low but misses Hammond’s spring statement target April 24, 2019 Public borrowing fell to its lowest level for 17 years in 2017-18 but was still higher than predicted, according to data published today. Borrowing hit £24.7bn between April 2018 and March 2019, the Office for National Statistics (ONS) revealed today, £17.2bn less than the previous financial year. Read more: Government borrowing falls to 17-year low [...]
Business lobby groups slam competition watchdog’s calls for radical audit reform April 18, 2019 Business lobby group the CBI said reforms to the audit sector proposed today by the competition watchdog could “undermine confidence in corporate Britain”. The Competition and Markets Authority (CMA) today called for the Big Four accountancy firm’s audit arms to be split from their non-audit arms with separate profit pool and management in a major [...]
UK house prices: Growth hits seven-year low as London house prices plunge amid Brexit uncertainty April 17, 2019 UK house prices grew at their slowest rate in seven years early in 2019 as London house prices plunged, according to data published today. Read more: London house prices: How Brexit has hit prices in your borough UK properties only grew by 0.6 per cent in February compared to the same month last year, the [...]
UK inflation rate holds steady at 1.9 per cent sending Britons’ real wages higher April 17, 2019 The UK’s headline annual inflation rate remained unchanged in March, staying at 1.9 per cent, meaning Britons’ real wages are increasing as pay growth outstrips price rises. Read more: London house price plunge drags down UK-wide growth rate Meanwhile the inflation rate including housing costs and council tax stayed at 1.8 per cent, where it [...]
Travelex-owner Finablr to raise $200m in London listing April 16, 2019 The owner of foreign exchange company Travelex today announced its intention to raise $200m (£153m) in a float on the London Stock Exchange. United Arab Emirates-headquartered payments and foreign exchange business Finablr said it expects to raise $200m with plans for a free float of at least 25 per cent of the company. The company’s brands [...]
UK tops global ranking for top investment destinations for first time April 15, 2019 The UK has been ranked as the top investment destination in the world, knocking the US off the top spot. It is the first time the UK has taken the top spot in the rankings by professional services firm EY in the survey’s 10-year history. In 2018 the UK accounted for 10 per cent of [...]