PwC announces separation of Russian firm in first Big Four exit March 6, 2022 Pricewaterhousecoopers (PwC) will no longer have a member firm in Russia, with the multinational due to announce its decision tomorrow to separate its Russian company from the rest of its global network in the wake of Putin’s invasion of Ukraine. The move by the Big Four giant will affect 3,700 partners and staff in Russia, [...]
City Moves: Who’s switching jobs in the Square Mile this week? March 4, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. MCA The Management Consultancies Association (MCA), a trade association, has announced that an EY veteran will be its next president. Yunus Ozler, EY UK&I energy and resources consulting leader and partner, who currently sits on the MCA [...]
Real estate developer Firethorn sells logistics assets to Cain for £550m March 2, 2022 Real estate developer Firethorn Trust has inked a deal to sell its UK logistics portfolio to investment firm Cain International for £550m. The portfolio includes seven sites in the UK, totalling 3.25m sq ft across 22 assets, including two newly built developments. The sale also includes five consented land sites that are on set for [...]
Sanctions will force consultancies to drop Russian clients, consultancy trade body says March 2, 2022 The trade body for management consultancies has said the UK government’s sanctions on Russia and Belarus will “inevitably” mean some consultancies will be forced to cut links with some of their clients. In a statement, Tamzen Isacsson, Chief Executive of the Management Consultancies Association (MCA), said: “Our firms are strictly abiding by the updated changes [...]
Big Four auditors KPMG, EY, and PwC seek to distance themselves from Russia March 1, 2022 The Big Four auditors have sought to distance themselves from Russia, after the UK government told City of London companies not to work on behalf of the Putin regime. In a post on Linkedin, Jon Holt, chief executive of KPMG’s UK division, said KPMG will be “ending” some of its client relationships in order to [...]
University education can’t deliver the skills we need for the economy of the future March 1, 2022 TOO many jobs, wage inflation, and an abundance of flexible working opportunities. Compared to the threat of mass unemployment when the pandemic began two years ago, these feel like better problems to have. But labour market figures released last month revealed one serious problem: an exodus of older workers. Since March 2020, the number of [...]
Reforming fiscal regime is no taxing issue March 1, 2022 Amid the surplus of analysis devoted to improving the UK tax system, debate over whether the government’s current and future level of spending sometimes slips by. With interest rates expected to climb as the Bank of England leans even further into hawkish policy and inflation already hitting near 30-year highs, the cost of borrowing will [...]
Irish accountancy watchdogs raises concerns over Deloitte and EY audits February 28, 2022 Ireland’s audit watchdog has said flagged issues with audits carried out by Big Four accountancy firms Deloitte and EY, after carrying out its annual review of auditors. The Irish Auditing & Accountancy Supervisory Authority (IAASA) said audits completed by Deloitte and EY required improvements, after sampling six sample audits carried out by the firms. By [...]
Is it time a decentralised world created a scoring system for accurate information? February 26, 2022 Dr Chris Kacher examines how our industry can help to purify accuracy in the freedom of expression we crave.
Worst January since 2009 for UK automotive production February 25, 2022 Last month was the worst January since 2009 for the UK automotive production, figures from the Society of Motor Manufacturers and Traders (SMMT) showed. Car production fell 20.1 per cent to 68,790 units – 17,262 vehicles down compared with the same time last year. Domestic and overseas production slumped to 30.8 and 17.5 per cent, [...]