Time to ditch the tech bros? Women-led fintechs are better investments, says KPMG May 4, 2019 A new report from KPMG has found that fintechs founded by women are more likely to be successful when compared with the industry average. The study, which looked at 91 fintech companies across the UK, found those that were founded or co-founded by a female achieved 113 per cent higher returns for investors. Read more: Banking [...]
Tech sector activity gets a boost despite falling optimism April 30, 2019 Business activity growth in the UK technology sector has recovered to its fastest pace since the second quarter of 2018, while optimism fell to a 10-year low. The strength of business activity rose to 54.4 in the first three months of 2019, up from 52.3 at the end of last year, according to data from [...]
Tech sector activity gets a boost despite falling optimism April 30, 2019 Business activity growth in the UK technology sector has recovered to its fastest pace since the second quarter of 2018, while optimism fell to a 10-year low. The strength of business activity rose to 54.4 in the first three months of 2019, up from 52.3 at the end of last year, according to data from [...]
Business secretary Greg Clark set to announce £100m funding for British Steel April 30, 2019 Business secretary Greg Clark is set to announce a £100m funding package for British Steel. Sky News reported that Clark will announce the pledge in the House of Commons tomorrow after the UK’s second-biggest steelmaker made the request for emergency funding to pay an EU climate levy. According to the report, government funding has been [...]
What women want? Fairness and flexibility at work April 30, 2019 Gender inequality across UK businesses remains rife. According to a recent KPMG survey, more working women than men primarily choose their jobs due to locality and flexibility of working hours. In an age of tech-enabled agile working, there is no justifiable rationale for these factors to be more of a concern for women than men. [...]
Why FinTechs are barking up the wrong tree April 30, 2019 While fintechs wave the flag of disruption and chant ‘financial inclusion for all’, the knights that promise to save the masses from the vagaries of traditional financial services have a more pressing agenda – profit. Both nascent and established players in consumer-facing financial service industries are searching for the holy grail that delivers droves of [...]
Watchdog slaps KPMG with £6m fine over insurance audit April 30, 2019 A financial watchdog has stung KPMG with a £6m fine and “severely reprimanded” the auditor after finding fault with how an insurance audit was conducted. Read more: KPMG examining audit spin-off in wake of damning report from MPs KPMG must also carry out an internal review following the Financial Reporting Council’s (FRC) findings, which relate [...]
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 [...]
Debenhams to close 22 stores in 2020 as lenders warn of 1,200 job losses April 26, 2019 Debenhams revealed its store closure plan this morning, with up to 22 stores expected to be shuttered in 2020. Around 1,200 jobs are at risk due to the two Company Voluntary Arrangements (CVAs), one for property and one for retail, the company said today. Read more: Debenhams owners to outline plans to shut 20 stores The [...]
DEBATE: Is Sadiq Khan ultimately responsible for the ongoing delays to Crossrail? April 24, 2019 Is Sadiq Khan ultimately responsible for the ongoing delays to Crossrail Keith Prince, GLA Conservatives’ transport spokesman, says YES. Londoners are all too familiar with this mayor’s penchant for passing the buck and blaming others for his mistakes. But when it comes to the Crossrail project, Sadiq Khan’s attempt to dodge accountability simply won’t wash. [...]