PwC UK chairman resists calls for Big Four breakup as firm posts record revenues September 17, 2018 The chairman of PricewaterhouseCoopers UK said the Big Four accountant has learnt from its mistakes and improved processes, after it raised revenues despite settling two regulatory investigations in the past year. Kevin Ellis, PwC’s UK chairman and senior partner, told City A.M. he stands by the company’s opposition to breaking up the Big Four accountancy firms, [...]
PwC UK chairman resists calls for Big Four breakup as firm posts record revenues September 17, 2018 The chairman of PricewaterhouseCoopers UK said the Big Four accountant has learnt from its mistakes and improved processes, after it raised revenues despite settling two regulatory investigations in the past year. Kevin Ellis, PwC’s UK chairman and senior partner, told City A.M. he stands by the company’s opposition to breaking up the Big Four accountancy firms, [...]
EY boss hits back at calls to break up Big Four September 13, 2018 The global chief executive of EY has hit back at criticism of the Big Four financial services firms, which have been slammed for the lack of competition in the audit market following high-profile corporate collapses. The company, which today announced boosted global revenue of $34.8bn in the financial year to the end of June, came under [...]
EY boss hits back at calls to break up Big Four September 13, 2018 The global chief executive of EY has hit back at criticism of the Big Four financial services firms, which have been slammed for the lack of competition in the audit market following high-profile corporate collapses. The company, which today announced boosted global revenue of $34.8bn in the financial year to the end of June, came under [...]
Debenhams chair lashes out at firm’s ‘nosy neighbours’ September 11, 2018 The chairman of troubled department store Debenhams today sought to justify the firm's decision to rush a trading update out yesterday as an attempt to stop "nosy neighbours" speculating about its future. Debenhams' shares plunged 17 per cent yesterday after reports over the weekend revealed it had brought in KPMG to advise on a number of restructuring [...]
Look to the green belt: Paper calls for radical changes to land near train stations in bid to solve housing crisis September 10, 2018 Freeing up green belt land near train stations could pave the way for the construction of 1.5m new houses, according to a report which seeks to tackle London’s chronic shortage of affordable housing. Radical proposals that call on the government to loosen development restrictions around green belt areas within a half-mile radius of train stations have been [...]
Debenhams rushes out surprise update after its shares plunge to record low September 10, 2018 Debenhams looked to quell investor concern about the company's financial situation by rushing out a surprise trading update today which showed profits were slightly below expectations. The firm shocked the market by releasing its results a month early, saying it expected profits to be within the market range of £31m to £36m, falling just short of its expected [...]
Debenhams share price tumbles as firm mulls over rescue plan September 10, 2018 Shares in high street retailer Debenhams crashed 17 per cent this morning after it emerged the firm had brought in KPMG to advise on a number of options to save the struggling company. Debenhams has had a gruelling year, announcing three profit warnings so far alongside a raft of job cuts, causing its share price to tank [...]
London house prices set to hit lowest growth levels since financial crash September 10, 2018 London house prices are set to drop 0.7 per cent next year, marking the lowest annual rate of growth in the UK’s property market since the 2008 financial crisis. Big Four accountancy firm KPMG has projected that property prices in the capital will continue to fall until 2021 in a report out today that suggests [...]
Debenhams calls in top auditors to weigh up potential insolvency September 9, 2018 Embattled department store chain Debenhams has called in Big Four accountancy firm KPMG to help carry out desperate restructuring measures which could include a controversial insolvency process. Among the contingency options currently being weighed up by KPMG is a company voluntary arrangement (CVA), which is an insolvency option that can be used to close stores [...]