UK retail sales climbed in January, according to data from the British Retail Consortium and KPMG February 9, 2016 British retailers enjoyed some therapy last month as shoppers cast off the January blues and returned to the high street, according to new figures out today. UK retail sales rose by 2.6 per cent on a like-for-like basis from January 2015, when they had increased 0.2 per cent from the preceding year, according to figures from the [...]
Consulting giants, including PwC, Accenture and IBM, club together to figure out why so many women are fleeing the profession and not returning February 8, 2016 Some of the biggest names in consulting have today joined together to figure out how they can prevent high-flying women from quitting their profession. The firms – PwC, Accenture, IBM, KPMG and PA Consulting – are collaborating with the Management Consultancies Association (MCA) and She’s Back to identify why experienced women are leaving the workplace and not [...]
MPs turn up the heat on FRC over KPMG enquiry February 3, 2016 Influential MP and chairman of the Treasury select committee (TSC) Andrew Tyrie has increased the pressure on the accountancy watchdog over its supervision of big four auditor KPMG’s role in the collapse of HBOS. Last month the Financial Reporting Council said it would look into whether to open an investigation against KPMG, having previously decided not [...]
Cordant Group’s Phillip Ullmann talks to Harriet Green about looking after 52,000 workers and turning teal February 1, 2016 When I met Phillip Ullmann, head of Cordant Group and employer of over 52,000 people, he had just lost his job title. It wasn’t that someone had taken it from him – rather that he’s shed it. “Job titles are nonsense. What does it mean to be an executive chair, chief executive, managing director? Titles [...]
FCA and PRA confirm they will investigate former HBOS senior managers January 28, 2016 The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) have confirmed they will start investigations into "certain former HBOS senior managers", after the bank collapsed in 2008. The news comes just over two months after a landmark report recommended the regulators re-assess their decision not to launch criminal proceedings against former HBOS bosses, including [...]
Neil Woodford-backed RateSetter reaches the £1bn borrowed mark January 25, 2016 Ratesetter, the Neil Woodford-backed fintech company, has become the fastest UK lending marketplace to lend over £1bn, reaching the milestone in 1,933 days, or just over five years. The £1bn was raised through 207,000 loans, the majority – 59 per cent – of which went to individuals, although property developers also make up a sizeable minority of the [...]
British banks face landmark legal challenge over mis-selling of interest rate swaps January 24, 2016 Britain's biggest banks are set to face yet another legal challenge tomorrow, when a hearing relating to the mis-selling of rate swap products begins in the Royal Courts of Justice. The hearing, which is expected to last no more than three days, could have far-reaching implications for a multi-billion pound scheme to compensate victims of [...]
Venture Capital investing in the UK reaches $1.3bn in the last quarter of 2015, bucking global trends January 21, 2016 Venture Capital firms invested $1.3bn (£910m) in UK companies in the last three months of 2015, capping off a record-breaking year. In total, UK start-ups received $4.75bn in venture capital funding last year from 400 deals, according to the latest data from KPMG and venture capital database CB Insights. This bucked the global trend: there was a 30 [...]
Financial Reporting Council confirms plans to investigate KPMG over Hbos handling January 21, 2016 The Financial Reporting Council (FRC) has confirmed plans to launch an investigation into KPMG and its handling of Hbos’ accounts today. In a statement this morning, the regulator said it had asked its executive counsel to undertake preliminary enquiries under the accountancy scheme, the disciplinary scheme for members of the accounting profession. The FRC will examine [...]
Job interview questions from some of the UK’s top accountancy firms, including PwC, Deloitte, KPMG and EY January 20, 2016 If yesterday's banking interview questions left you in a tizzy, maybe accountancy is more your cup of tea. City A.M. went back on careers website Glassdoor.com to find out just what calibre of questions wannabe bean counters and spreadsheet drafters could expect from their potential employers. PwC Senior accountant: If you were to be re-incarnated as an animal, [...]