Increasing prices will hurt the retail sector in 2018, according to this think tank December 28, 2017 The retail sector will “flatline at best” next year, according to predictions issued by the KPMG/Ipsos Retail Think Tank (RTT). The group made its lacklustre forecast based on a combination of “continued headwinds in the form of geopolitical and macroeconomic obstacles; an increased number of regulatory compliance issues and ongoing structural change within the industry”. [...]
Revealed: Behind the scenes of Carillion’s annus horribilis December 21, 2017 Troubled construction giant Carillion hit the headlines again yesterday after it announced its interim chief executive Keith Cochrane will be replaced almost three months earlier than planned. When Andrew Davies, who was set to take over on 2 April 2018, starts on 22 January, he will become the company’s third chief executive in six months. [...]
Carillion share price: Behind the scenes of the construction giant’s annus horribilis December 21, 2017 Troubled construction giant Carillion hit the headlines again yesterday after it announced its interim chief executive Keith Cochrane will be replaced almost three months earlier than planned. When Andrew Davies, who was set to take over on 2 April 2018, starts on 22 January, he will become the company’s third chief executive in six months. [...]
“Shorter, sharper” corporate governance code welcomed as step to restore public’s trust in business December 5, 2017 The UK’s top accounting regulator today publishes a “shorter, sharper” corporate governance code that aligns the pay of top execs and workers. Proposals by the Financial Reporting Council (FRC) were welcomed by leading HR and governance bodies. The code includes requirements for UK firms to ensure board appointments are “based on merit” rather than “group [...]
Challenger accountant CogitalGroup announces first acquisition for Blick Rothenberg December 1, 2017 Blick Rothenberg, the accountancy firm owned by CogitalGroup, has today made it first acquisition as its parent pursues plans to challenge the Big Four accountants. Shelley Stock Hutter, based in Marylebone, has been scooped up by Blick Rothenberg to strengthen its presence in the “owner-managed business” sector. With a team of more than 60 people, [...]
No need for disclosure of Bank of England emergency funding to Lloyds investors in HBOS deal, Sir Victor Blank tells court November 30, 2017 Investors in Lloyds bank at the time of its merger with HBOS did not need to be told about emergency funding provided by the Bank of England (BoE), former Lloyds chairman Sir Victor Blank today told the High Court. Blank was giving evidence at a £550m legal case brought by shareholders who allege they were [...]
UK’s top accounting watchdog wants more powers from parliament following KPMG-HBOS probe November 30, 2017 The top accounting watchdog in the UK has called for accountants to be held to higher standards when auditing companies, after a probe into KMPG’s audits of HBOS in the run-up to the lender’s collapse failed to find the accountant guilty of misconduct. Read more: KPMG has been cleared of wrongdoing over its 2007 HBOS [...]
Mind the skills gap: A plan to future-proof the UK workforce November 30, 2017 How do we close the skills gap in this country? At the recent World Skills competition and conference in Abu Dhabi, I learnt that this is not just a UK problem, but also one faced by countries across the world. Addressing this imbalance sits front and centre of everything this government is trying to achieve [...]
Oil and gas contractors are the most confident they’ve been in four years November 30, 2017 For the first time since 2013, nearly half of oil and gas contractors in the UK Continental Shelf (UKCS) are confident about their prospects, a report to be published today suggests. Of the contractors surveyed, 49 per cent were more optimistic about their activities in the current year, up from 38 per cent in the [...]
Wizz Air eyes bigger expansion in London as it secures collapsed airline Monarch’s Luton Airport slots November 29, 2017 Hungarian airline Wizz Air has secured a number of take-off and landing slots at Luton from collapsed airline Monarch. It announced today it will add two aircraft to its fleet at London Luton, taking its total at the airport to seven, saying more routes will be unveiled in due course. Read more: British Airways owner [...]