Prince Andrew’s name removed from Pitch@Palace website February 9, 2020 Prince Andrew’s Pitch@Palace initiative has launched a rebrand as it attempts to distance itself from the royal due to his connections to the Jeffery Epstein scandal. The Duke of York’s name has been removed from the initiative’s website, which has announced it will unveil its rebrand in spring. The refresh, which was first reported by [...]
Permanent job numbers increased for first time in over a year following general election February 7, 2020 Improved market confidence has led to the first back-to-back increase in permanent jobs for over a year. According to KPMG and REC’s new jobs report, recruiters signalled a further rise in permanent staff appointments in January following the general election. The appointments rose in the North and South of England but fell in London and [...]
Financial Reporting Council unveils plans to beef up enforcement in audit cases February 5, 2020 Audit watchdog the Financial Reporting Council (FRC) today announced plans to create a “more forceful regulator”. The FRC has been heavily criticised for the slow pace of its investigations into matters such as the audit of Hbos shortly before its collapse. It has also been criticised for its perceived toothlessness and its cosy relationship with [...]
City Moves for 5 February – Who’s switching jobs at Dechert, Just Group and Clearcourse? February 5, 2020 Today’s City Moves includes Dechert, Just Group and Clearcourse Dechert Global law firm Dechert has announced that Solomon J. Noh has joined the company’s financial restructuring practice as a partner based in London. Solomon represents sophisticated investment managers in financial restructurings, financings, and mergers and acquisitions. Recently, he represented a consortium of hedge funds in [...]
Audit resignations jump as sector faces regulatory pressure February 3, 2020 The number of audit firms to resign from jobs jumped last year as the sector comes under increasing regulatory pressure. Resignations have risen 21 per cent to 229 in 2018/19, up from 190 the previous year, according to the latest research by Thomson Reuters. The spike in resignations comes as audit companies are increasingly in [...]
Boxpark’s profits jump as pop-up venue targets UK expansion February 3, 2020 Boxpark reported a jump in profit last year as the pop-up shipping container venue sets its sights on expansion outside of London. The food and retail operator – which launched in Shoreditch in 2011 – said net profit was up 22 per cent to £1.6m and turnover soared 58 per cent to £12.5m in the [...]
Bank of England avoids interest rate cut as Mark Carney bows out January 30, 2020 The Bank of England has held off from an interest rate cut despite a surge in expectations that it would reduce rates for the first time in four years. Today’s decision came even as the Bank slashed its long-term growth forecasts for the UK economy to account for Brexit disruption and Britain’s productivity crisis. Read [...]
City Moves for 30 January – Who’s switching jobs at Digital UK, Aspen and Optilan? January 30, 2020 Today’s City Moves includes Digital UK, Aspen and Optilan Digital UK Freeview platform operator, Digital UK has appointed Sarah Milton as chief operating officer. Her remit will incorporate the day-to-day running of the Freeview service as well as customer support and experience. Sarah spent 15 years at Channel 4, where she was at the forefront [...]
Law firms lead Stonewall’s top LGBT-inclusive employers January 30, 2020 City law firms are some of this year’s most inclusive employers for the LGBT community, with 15 topping Stonewall’s employers of the year. Legal organisations were the second most inclusive sector, with fifteen firms on the list. Last year’s winners Pinsent Masons topped the private sector employers at fourth place. Mayer Brown and the Solicitors Regulation [...]
Exclusive: Beales auditor faces scrutiny after collapse of department store chain January 28, 2020 The firm responsible for auditing Beales department store’s financial accounts is expected to face scrutiny after it emerged that the retailer collapsed just over four months after being given a clean bill of health. City A.M. understands that the Institute of Chartered Accountants in England and Wales (ICAEW) has made early-stage enquiries into Nexia Smith [...]