Consumer spending growth slows and retail sales fall on Brexit fears March 4, 2019 Consumer spending growth and retail sales fell last month as households cut back on non-essential items amid fears over Brexit and the UK’s economic prospects. Clothing, department store and hotel spending all contracted in February, according to the latest monthly spend data from Barclaycard. Read more: Retail investors are sitting tight amid Brexit uncertainty Spending [...]
‘Chicken king’ Boparan to close a third of Giraffe and Ed’s Diner restaurants March 4, 2019 Giraffe and Ed’s Diner have become the latest casualties in the struggling casual dining sector after the restaurant chains’ owner said it will close a third of their branches. The Boparan Restaurant Group (BRG), which is owned by ‘chicken king’ Ranjit Singh Boparan, is widely reported to have entered a company voluntary arrangement (CVA) that will [...]
UK construction activity falls for first time in 11 months March 4, 2019 UK construction activity declined in February for the first time in eleven months led by a drop in commercial building work. Civil engineering work also fell but residential construction continued to grow for the 13th consecutive month, according to the IHS Markit / CIPS Construction purchasing managers’ index (PMI). The survey of businesses also found [...]
City Moves for 4 March – who’s switching jobs at Impact Healthcare, Stobart Group and Arrow Capital Partners? March 4, 2019 Today's City Moves cover Impact Healthcare Reit, Stobart Group and Arrow Capital Partners. Take a look at these movers and shakers. Impact Healthcare Reit Healthcare real estate investment trust Impact Healthcare Reit has announced the appointment of Amanda Aldridge as a non-executive director of the company with immediate effect. Amanda will join the audit, remuneration and [...]
PwC back with a vengeance at top of audit client rankings March 3, 2019 Accountancy giant PwC has become the leading auditor of listed UK clients for the first time since 2013, retaking its FTSE 100 client crown in the process. PwC, Britain’s biggest professional services firm by revenues, leapfrogged fourth-placed KPMG to take pole position. The smaller firm lost 12 clients between November last year and February, while [...]
Fintech firms to face increased scrutiny as regulators fear pace of change, KPMG warns March 3, 2019 Regulators are becoming increasingly concerned that the scale and pace of fintech development could harm consumers and threatened the financial system, according to a KPMG report. The report warned that regulators and risk experts were struggling to keep up with the pace of technological change and predicted a fresh wave of regulatory scrutiny in 2019. [...]
London offers a magic potion for startup success, but we can up our game February 28, 2019 The formula for a successful business is impossible to define. Just having the best product isn’t enough (Betamax’s loss to VHS back in the eighties can tell you that). Great branding and brilliant management are both necessary, obviously, but neither is a silver bullet. Luck is probably part of it. Hard work too. But whatever [...]
Financial Reporting Council extends probe into Carillion’s accounts February 26, 2019 Britain’s accounting watchdog will look even further into the past in its investigation of the audit of failed outsourcing giant Carillion. For the first time the Financial Reporting Council’s (FRC) probe will stretch to work done in 2013 – but a spokesperson declined to say why this was. Read more: KPMG boss confident in Carillion [...]
City Moves for 22 February – Who’s switching jobs at ICG, Duff & Phelps and M3 Consulting? February 22, 2019 Today's City Moves cover International Capital Group, Duff & Phelps and M3 Consulting. Take a look at these movers and shakers. Intermediate Capital Group Intermediate Capital Group (ICG) has announced the appointment of Jamie Rivers as a managing director in the UK equity and mezzanine team. He has joined from BC Partners, where he worked [...]
Theresa May issues last-minute Brexit plea to Tory MPs ahead of Brussels visit February 17, 2019 Theresa May has appealed to her warring MPs to set aside their "personal differences" on Brexit and unite behind her deal, as she faces another strained week of negotiations with Brussels. The PM wrote all Conservative MPs urging them to "move beyond what divides us" and warning that "history will judge us". May's latest plea [...]