Blackout risk if subsidies for small diesel generators are scrapped June 2, 2016 Britain could be more vulnerable to future blackouts if Ofgem recommends scrapping subsidies for highly polluting small diesel generators. Big four accountancy firm KPMG said if this became law it would threaten the construction of these, as well as less polluting gas plants, which are already in the pipeline due to the subsidies awarded the government's "capacity market" [...]
Why leaving the EU will undermine London’s global competitiveness June 2, 2016 London is at the forefront of the huge changes buffeting our society and our economy, as we confront and cope with the realities of globalisation. India and China, and the emerging economies of Indonesia, Singapore, Vietnam, Brazil and others, are overturning Europe’s traditional dominance. In Africa, Senegal, Uganda, Tanzania, Kenya and Ethiopia all had growth [...]
Companies are failing to use technology to fight fraud, KPMG research warns June 1, 2016 Companies are failing to use technology in the fight against fraud, one of the big four accounting firms has warned. New research from KPMG has found that technology is the Achilles heel in the fight against fraud, with only three per cent of companies successfully using data analytics to detect fraud. Meanwhile, it says, a quarter of fraudsters [...]
JP Morgan Cazenove loses its long-standing lead over Bank of America Merrill Lynch in FTSE 100 stockbroking stakes May 31, 2016 JP Morgan Cazenove has lost its long-held position as the top stockbroker for FTSE 100 companies. The bank's crown has been taken by Bank of America Merrill Lynch, new figures from Adviser Rankings show. JP Morgan Cazenove has topped the FTSE 100 rankings every year since Adviser Rankings began compiling the list as part of its [...]
Tottenham chairman Daniel Levy named the highest paid director in the Premier League last season May 26, 2016 Tottenham chairman Daniel Levy has been named the highest paid director in the Premier League last season in an analysis of all 20 teams' accounts. Financial reports for the 2014/15 season have been disclosed by every team in last season's competition, revealing the 54-year-old was paid £2.6m by the club as Spurs finished fifth in [...]
Manchester United named most valuable club in the world but must win trophies with Jose Mourinho to stay at the top May 26, 2016 Manchester United have been named the joint-most valuable football club in the world, but have been warned that incoming manager Jose Mourinho will need to improve results if they want to remain top of the pile. Both United and Real Madrid are estimated to be worth £2.1bn in a report published today by accountancy giant KPMG [...]
Fraud reaching “epidemic” levels, costing the UK economy more than £6,000 per second or almost £200bn a year May 25, 2016 Fraud is costing the UK economy nearly £200bn per year – or more than £6,000 per second – with businesses being the biggest targets, a report out today has discovered. The study discovered that the private sector was losing roughly £144bn of the £193bn total lost to fraud every year. In particular, procurement fraud, such as issuing fake invoices and [...]
Brexit wouldn’t be that bad, says property boss May 24, 2016 The incoming chief executive of property firm Helical Bar has said that the idea of Brexit is not as catastrophic as some are claiming. Speaking to City AM, Gerald Kaye said: "It's causing some uncertainty in the market, but Brexit may not be quite as bad as some people suggest. "But the money is on us remaining." Property [...]
Chairman of BIS select committee unimpressed by evidence given on BHS so far May 23, 2016 As the inquiry into the collapse of BHS continues today, chairman of the Business, Innovation and Skills Select Committee has said he is "not impressed" by the people who have given evidence so far. Iain Wright, Labour chair of the committee looking into the sale and acquisition of BHS, told BBC 5live's Wake up to [...]
London companies lost £16bn in 2015 due to risks within their control – KPMG Enterprise May 23, 2016 Businesses in London lost around £16bn last year due to risks within their control, according to new research out today. Firms suffered particularly from an over-reliance on a small number of suppliers and customers, which left them vulnerable to "costly fractures in their supply chain and a loss of vital revenues", according to KPMG Enterprise. [...]