Economists: Iran faces barriers to strong growth January 18, 2016 The lifting of sanctions against Iran has not erased pessimism over the future of its economic growth. Iran’s economic growth plummeted after sanctions relating to its nuclear programme were put in place. Yet some are warning the removal of restrictions may not mark a return to high levels of pre-sanctions growth for a sustained period. “Given [...]
Accounting watchdog meeting to decide on KPMG investigation into the auditor’s role over HBOS collapse January 18, 2016 The accountancy watchdog could decide as soon as tomorrow whether to launch a formal investigation into the role of big four accountancy giant KPMG in the collapse of HBOS in 2008. The Financial Reporting Council’s (FRC) conduct committee is set to meet tomorrow to make its decision, Sky News has reported. The conduct committee will [...]
2016 already looking positive for financial services jobs as top consultants net salaries of £97,000 January 18, 2016 The new year may have only just begun but there are already signs of 2016 being a strong year for financial sector jobs. According to findings released today by recruiter Morgan McKinley, many employers have already kicked off their 2016 hiring. “Despite a rude awakening to the start of the year from financial markets, we’ve actually [...]
Panmure storms into the top five London advisors January 18, 2016 Small cap specialist broker Panmure Gordon has broken into the top five City advisers chart this morning as financial data publisher Adviser Rankings unveiled its tenth annual corporate advisers rankings for 2015. The firm soared five places up the table, jumping from tenth in 2014. Panmure also managed to hold onto its third place position [...]
Banks warned of sharp rise in ransomware attacks as one in four firms are prepared to pay a ransom to hackers to avoid cyber attacks January 13, 2016 One in four firms is prepared to pay a ransom to hackers to avoid a cyber attack, just as banks are warned of ransomware attacks against them rising sharply. With cybercrime a growing threat and strict new EU legislation imposing steep sanctions on firms that fail to protect themselves, it’s no surprise that cybersecurity has [...]
New accounting standard will change the way companies treat leases on their balance sheets, but could influence a shift away from sale and leaseback January 13, 2016 A new accounting standard will change the way companies recognise leases on their balance sheets, and could see businesses alter the way they approach property. International Financial Reporting Standard (IFRS) 16 Leases, which was published today by the International Accounting Standards Board (IASB), is due to come into effect from 1 January 2019 and will [...]
Skyscanner is the UK’s first unicorn of 2016 after raising $192m new investment January 12, 2016 The UK's first unicorn of 2016 has been conjured as flight search app Skyscanner landed new funding which reportedly values the Edinburgh-based startup at $1.6bn (£1.1bn). The gallop into unicorn territory (a valuation of more than $1bn) is the result of $192m new investment by five investors, the FT first reported, UK fund manager Artemis, Ballie Gifford, the [...]
Virgin Money announces two new appointments to senior executive team, with Peter Bole to join as chief financial officer and Hugh Chater to take on the role of chief commercial officer January 12, 2016 Challenger bank Virgin Money has appointed former Tesco Bank finance chief Peter Bole as its new chief financial officer. In a statement today, the bank said he will join in 2017. Read more: Virgin Money replaces KPMG with PwC as auditors Glen Moreno, chairman of Virgin Money, said Bole is "an accomplished professional with first-class strategic financial management experience. "I [...]
UK retail sales: Christmas brings little cheer to retailers January 12, 2016 Christmas brought little cheer to UK retailers in December as hopes of a boost to sales from higher consumer confidence fell flat. The British Retail Consortium (BRC) and KPMG’s latest monthly index shows like-for-like retail sales rose by 0.1 per cent from December 2014, when they had decreased 0.4 per cent. Total sales were up one [...]
Pay growth falls to two-year low despite jobs rise January 8, 2016 Pay growth has slowed to its lowest rate in over two years, new survey figures show this morning. The slowdown comes despite an increase in job vacancies in December, according to the data compiled by the Recruitment and Employment Confederation (REC) and financial services firm KPMG. The survey’s pay gauge slid to a score of 58.7 [...]