Mitie Group share price drops as it reveals another FRC investigation and announces drop in profit and revenue November 20, 2017 Mitie Group has revealed the accounting watchdog has opened another investigation into the group’s financial statements, as it unveils its first half results. The figures Revenue was up four per cent in the first half of 2017, from £922.6m to £959.7m. Operating profit dropped 38.1 per cent to £14.8m from £23.9m. Basic earnings per share [...]
Editor’s Notes: Work on a trade deal has begun, even if the EU hasn’t noticed, Labour turns against the City of London Corporation and Art 4 Grenfell October 20, 2017 Another week, another round of the Brexit dance in Brussels. The Europeans are inching towards the next phase of talks, though with “sufficient progress” not yet being confirmed they’re talking about commencing internal discussions about preparing for the next round. While this slow pace is infuriating, it’s always worth looking behind the public statements to [...]
A successful industrial strategy requires letting zombie firms die October 20, 2017 As the government considers its industrial strategy white paper, due later this year, it must first break free from blinkered thinking. While doubtless well intentioned, the familiar policies under discussion so far – additional public infrastructure investment, more state-funded research, and skills enhancement, with a particular focus on management training – are not sufficient to [...]
The Square Mile has the UK’s least potholey roads, it turns out October 19, 2017 Want to drive on pothole-free roads? Then London's financial district is the place to be, council figures released today reveal. Just 123 potholes were reported in 2016, according to figures obtained under a Freedom of Information Act request, equivalent to a depth of only two metres. The City spent £174,960 fixing potholes, and, in a [...]
Which region has the most potholes? Areas most likely to have roads free of bumps revealed October 19, 2017 Want to drive on pothole-free roads? Then London’s financial district is the place to be, council figures released today reveal. Just 123 potholes were reported in 2016, according to figures obtained under a Freedom of Information Act request, equivalent to a depth of only two metres. The City spent £174,960 fixing potholes, and, in a [...]
City’s Brexit blueprint to be used as “starting point” for trade deal, as Brussels gives “very little pushback” say Mark Hoban and Rachel Kent October 18, 2017 The City’s blueprint report for regulation after Brexit is likely to become a foundational document when trade discussions are finally reached, one of the authors has today revealed. Hogan Lovells partner Rachel Kent, who published the International Regulator Strategy Group (IRSG) report alongside former City minister Mark Hoban last month, told a Lords committee this [...]
The private credit market is set to hit $1 trillion by 2020 October 4, 2017 The world’s private credit market, which focuses on providing debt to businesses, is set to hit $1 trillion (£754bn) by 2020, according to research from trade body the Alternative Credit Council (ACC). The industry currently manages around $600bn in assets, and has grown 14-fold since the turn of the millennium. Based on this growth rate, [...]
How to foster trust and create value in the investment industry September 20, 2017 The “Future State of the Investment Profession” study by CFA Institute explores evolving states of trust and their interdependence with demonstrating and creating value. To get a better understanding of what it means for investment professionals to provide value and how that relates to building trust and improving investor outcomes, we discussed these topics [...]
KPMG has been cleared of wrongdoing over its 2007 HBOS audit September 19, 2017 KPMG has been absolved of responsibility by the accounting watchdog over its auditing of HBOS in the run-up to the bank’s collapse in 2008, saying at the time there was no evidence market conditions would take such a dramatic turn. The Financial Reporting Council (FRC) said today after a detailed investigation, it had decided it [...]
Initiatives focused on ESG reporting are making progress, but there is more to do August 29, 2017 It is frequently acknowledged that investors should identify and analyse any environmental, social, and governance (ESG) factors that could impact the value creation and risk profile of companies and integrate these factors into their investment process. Evidence supporting the relevance of this type of information for investors continues to grow — see, for example, [...]