Law firm Baker McKenzie confirms death of global chair Paul Rawlinson April 15, 2019 The global chair of Baker McKenzie has passed away, the law firm has confirmed. Read more: Over here: City's legal elite under pressure from expansion of US entrants Paul Rawlinson died unexpectedly on Friday, Baker McKenzie said. He had stepped back from his role temporarily last October due to exhaustion. “It is with great sadness that [...]
Major companies could be exempt from joint audit rules in competition watchdog report April 14, 2019 The UK’s competition watchdog reportedly could exclude some major companies from a new rule that would require many business to appoint joint auditors. Sky News reported that the Competition and Markets Authority (CMA) is set to publish its long awaited report into the audit sector this week. According to the report, the CMA has been [...]
LK Bennett to close 15 stores and shed 110 employees after Chinese partner buys retailer April 12, 2019 LK Bennett is set to close 15 of its 36 stores throughout the UK and Ireland, making more than 100 employees redundant in the process, after the womenswear retailer was bought by its Chinese partner. Read more: Bonmarche fights back against Philip Day's £5.7m takeover bid The sale of the company was completed late on [...]
Network International valued at £2.2bn in London’s largest listing of 2019 April 10, 2019 Dubai-based payments company Network International listed on the London Stock Exchange today with a valuation of £2.2bn, the largest float of the year so far. It priced its shares at 435p per share, giving its a market capitalisation of £2,175m at the time of admission. Read more: String of banks appointed as Travelex-owner Finablr weighs [...]
UK inflation expectations remain at five-year high April 8, 2019 The British public’s expectations of inflation for 2019 stayed at their highest level in five years, new Bank of England data revealed today. Read more: Inflation edges up from two-year low as food and alcohol prices rise Britons expect the inflation rate – the speed at which prices increase over time – to be at 3.2 per [...]
KPMG examining audit spin-off in wake of damning report from MPs April 8, 2019 Big Four accounting firm KPMG is reportedly planning an overhaul of its UK business in the wake of political pressure and a wave of scandals. KPMG could split its UK audit practice from its wider UK business, The Times reported. Read more: MPs call for full breakup of audit’s Big Four in wake of scandals [...]
Professional services firm BDO plots out break-up plan April 7, 2019 Accountancy and professional services firm BDO is plotting out how it will carve off its auditing arm from the rest of its UK business, following a withering report from MPs on the embattled sector. BDO's head of audit Scott Knight said the firm had run through a range of scenarios in response to the report from the [...]
UK productivity falls for second consecutive quarter April 5, 2019 Labour productivity in Britain fell in the final three months of 2018 compared to a year earlier, continuing the country’s decade-long productivity slump, it was revealed today. Read more: UK services sector shrinks for first time in over two year For 2018 as a whole, labour productivity grew by just 0.5 per cent, well below [...]
UK house prices drop in March amid Brexit uncertainty after shock rise, says Halifax April 5, 2019 UK house prices grew 2.6 per cent year on year in March, but fell compared to the month before, according to data released today. The value of the average UK home hit £233,181 last month, after growing 1.6 per cent between January to March compared to the three months to the end of December. Read [...]
New car sales fall in crucial month for Britain’s car industry as Brexit uncertainty lingers April 4, 2019 New car registrations dropped by 3.4 per cent last month as political and economic uncertainty continues to hit demand. Demand slipped in both private and business sectors as sales hit their lowest March level since 2013, according to new figures from the Society of Motor Manufacturers and Traders (SMMT). Read more: Cost of meeting emissions [...]