The range of premium mixers produced to raise gin’s spirits October 21, 2013 Annabel Palmer talks luck, liquor and a lightbulb moment with Charles Rolls, co-founder of drinks label Fever-Tree WHILE gin may not be the most popular global spirit (that prestigious title goes to Korean rice wine brand Jinro), the world consumes 440m litres of it each year. But back in 2000, Charles Rolls, co-founder of the [...]
September profit warnings hit six-year high as targets missed October 20, 2013 PROFIT warnings from listed companies spiked to the highest level since the height of the financial crisis in September, despite warnings for the quarter falling by 17 per cent, according to an EY report. September’s spike of 26 profit warnings, the highest number of warnings in that month since 2008, clouded an otherwise improved outlook [...]
European car sales rise above two-decade low in September October 16, 2013 EUROPEAN car owners bought 5.4 per cent more vehicles in September compared to last year, taking the market slightly off the two-decade low seen over the summer. New car registrations hit 1.16m last month, marking the third monthly gain in the last two years, figures from industry body ACEA showed yesterday. Having fallen to their [...]
Accountants relieved as audit shake-up plan watered down October 15, 2013 THE COMPETITION Commission yesterday watered down its audit reforms, pleasing big accountants and their clients but putting itself at odds with tougher reforms looming from the European Union. The Competition Commission now wants FTSE 350 companies to put their book-keeping out to tender at least once a decade, to shake up a market dominated by [...]
Consumers forecast to push economy back to trend growth October 13, 2013 THE BRITISH economy will start to grow at around its long-run average level again in 2014, ending years of stagnation, according to one group’s new forecast. EY’s Item Club has hiked its predictions for economic growth today. The group now expect an expansion of 1.4 per cent this year, and 2.4 per cent next year. [...]
France and Germany to be hit by harder hedge fund rules than peers October 11, 2013 France and Germany are piling extra restrictions on overseas hedge funds on top of basic rules laid out in new EU laws, a survey out this morning has found. Both are “gold-plating” certain temporary rules curtailing the ability of non-EU funds – like US mega hedge funds – to market their products to investors, [...]
Ernst & Young UK bullish on further growth October 9, 2013 THE BRITISH arm of Ernst & Young posted a six per cent rise in revenues today, and boss Steve Varley believes the accountancy group can keep growing without the need for acquisitions. EY said three out of four of its businesses expanded in the year to the end of June, taking turnover to £1.6bn. Advisory [...]
Ernst & Young grows at fastest pace since 2008 October 8, 2013 ACCOUNTING and consultancy giant Ernst & Young posted a 7.7 per cent rise in global revenues yesterday to $25.8bn (£16bn), as it picked up more work in fraud investigations, advisory services and fast-growing countries. The firm said the pace of growth was at its fastest since 2008, with organic expansion across all of its businesses. [...]
Ice cream seller scoops prize for business savvy October 7, 2013 HEARD about the apocryphal salesman who flogged coal to Newcastle? Well it seems James Lambert has gone one better by managing to infiltrate the notoriously nationalistic Italian marketplace with his ice creams. Lambert, chairman of R&R Ice Cream – which sells brands like Fab, Skinny Cow and Kelly’s of Cornwall – scooped the top prize [...]
Advisory work lifts revenue at Grant Thornton October 6, 2013 GRANT Thornton has posted a 13 per cent surge in annual revenues to £471m as the accountancy firm picks up more advisory work from large-cap firms and mid-cap audit contracts. The firm said turnover in its advisory business rose by more than a fifth in the year to the end of June, helped by an [...]