Deloitte and EY partners push gender pay gaps wider March 7, 2018 Deloitte and EY today updated their gender pay gap data to include partners’ salaries for the first time, in figures which shed light on a bigger difference in earnings between men and women than previously thought. Both of the “Big Four” accountants have bigger gaps when partners’ earnings are factored in, reflecting the greater number [...]
Former KPMG UK chair heads up LSE probe into boardroom showdown which led to Xavier Rolet departure March 3, 2018 An independent review of last year’s boardroom crisis at the London Stock Exchange Group is underway, led by a City heavyweight. The LSE has turned to Simon Collins, a former UK chairman of KPMG, to head up the probe, according to Sky News. LSE chair Donad Brydon has written to its 20 largest shareholders to [...]
Editor’s Notes: MPs should summon the hedge funds if they want to understand Carillion, Carney’s catty comment and RBS’s robot February 23, 2018 In their quest to find out what happened to doomed outsourcing giantCarillion, MPs are asking the right questions but they’re not necessarily addressing them to the right people. This week the committee investigating Carillion’s collapse grilled accountancy firms KPMG andDeloitte, but while the beancounters can provide valuable insight into the final hours of Carillion’s life, [...]
KPMG says Carillion bosses were wrong to pin blame for collapse on Qataris February 22, 2018 The pensions watchdog today told MPs that it must be “tougher” as it considers action against individuals involved in the collapse of Carillion. Giving evidence to the parliamentary inquiry into Carillion, Lesley Titcomb, chief executive of the Pensions Regulator said that with hindsight the regulator would have used its powers more quickly to ensure the [...]
City of London investors chronicle efforts to reform Carillion as it headed to liquidation | City A.M. February 19, 2018 Carillion executives are under fire again today with the publication of correspondence detailing how City investors tried to change the direction of the failing firm. As part of the parliamentary inquiry into Carillion’s collapse, investors told MPs of the various corporate strategies they adopted during the contractor’s demise, with some holding onto their stakes and [...]
Making a meal of it: EAT could close portion of 100-strong portfolio as competition bites February 6, 2018 High street sandwich shop EAT has become the latest food chain to consider closing a raft of stores. The 100-strong chain is looking at restructuring ts portfolio, with a possible company voluntary arrangement (CVA) on the table, according to Sky News. It follows the likes of Byron and Jamie’s Italian, which have both been forced [...]
Capita shares sink as government insists contractor is not another Carillion January 31, 2018 More than £1.1bn was wiped off Capita’s stock market valuation today after the FTSE 100 firm ditched its dividend amid profit fears. Capita announced a major operational shake-up and has plans in place for a mammoth £700m rights issue. Shares plummeted almost 50 per cent, with Carillon’s failure fresh in investors’ memories. A Cabinet Office [...]
Carillion collapse poses big questions for investors, Jes Staley’s FCA delay goes on and The Range floats chairs January 26, 2018 When in doubt, blame the accountants: a mantra which has gathered momentum after virtually every big corporate collapse since the financial crisis. Carillion is no exception. It seems obvious to ask now why KPMG signed off the construction group’s accounts in March without the merest hint of anxiety. Hindsight being a wonderful thing, the wafer-thin [...]
London ranked among top cities “fully open for business” on LGBT+ inclusivity and competitiveness January 24, 2018 London has been ranked among the top cities crowned “fully open for business” in a new study assessing which places across the globe demonstrate the highest levels of inclusion and economic competitiveness. A coalition of 25 global firms, including Deutsche Bank, KPMG and Accenture, released the Open for Business report today to reflect that LGBT+ [...]
MPs haul Carillion directors in for grilling over firm’s collapse January 24, 2018 Two of the Commons’ most powerful committees have ordered former Carillion directors – including ex-chairman Philip Green – to give evidence as part of a joint inquiry into the construction giant’s collapse. The Work and Pensions Committee, headed by Labour’s Frank Field, and the BEIS Committee, headed by his colleague Rachel Reeves, have launched a [...]