UK fraudsters extend their reach after taking advantage of two-thirds more victims during Covid February 24, 2022 The number of UK fraud cases worth more than £100,000 jumped by two-thirds (66 per cent) between 2020 and 2021, according to new figures from KPMG’s UK Fraud Barometer. The figures show fraudsters took a splatter-gun approach to financial crime last year, in defrauding a larger number of victims for smaller sums of money than [...]
KPMG ditches golfer Mickelson over Saudi breakaway tour row February 23, 2022 KPMG has terminated its long-standing sponsorship of Phil Mickelson in the wake of the US golfer’s comments supporting a proposed Saudi-backed tour. Mickelson apologised on Tuesday for remarks in which he pushed the case for a new circuit despite acknowledging Saudi Arabia’s “horrible record on human rights”. KPMG on Mickelson’s cap has been one of [...]
Wood swallows over £73m charge on Polish anti-missile project February 22, 2022 The John Wood Group is set to swallow a $100m (£73.6m) charge on a project in Poland, which has prompted investors to duck out of the stock today. Wood’s share price plunged more than 11 per cent to 200p per share by early afternoon, making today its shakiest day of London trading in almost two [...]
The demand for renewable energy investment will survive the cost crunch February 22, 2022 Earlier this month, Ofgem announced they would raise their consumer price cap by 54 per cent as global gas prices continued to jump. Against this backdrop, it’s easy to dismiss the strength of the appetite for investment in UK renewables. The value of “green” energy projects started in 2021 and was on track to exceed [...]
January retail sales boosted as cost of living crisis looms February 18, 2022 January retail sales volumes lifted 1.9 per cent last month while retailers prepare for consumers to limit spending as bills soar. According to the latest retail data from the Office for National Statistics (ONS), sales volumes marked the largest monthly increase since April 2021 when non-essential retailing reopened. An increase came after a four per [...]
City Moves: Who’s switching jobs in the Square Mile this week? February 17, 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. Fulcrum Asset Management Fulcrum Asset Management has poached its latest responsible investment associate from EY. Samriddhi Sharma departs the Big Four firm after holding the role of senior consultant in the sustainable finance team. Reporting to partner and chair Matt Roberts, Sharma will support [...]
Canada emergency bill targets crowdfunding and crypto February 16, 2022 The Canadian government has taken aim at the fundraising efforts of protesters opposing Covid-19 restrictions with new crypto rules.
Russia to embrace crypto as Fitch downgrades El Salvador, KPMG Canada bets on BTC and ETH February 15, 2022 Data from CryptoCompare shows that the price of Bitcoin started the week at around $42,500 and moved up steadily to the $45,000 mark.
UK government to set out plans for audit watchdog overhaul imminently after years of delays February 14, 2022 UK government ministers will set out their plans to reform regulation of the UK’s auditing industry within the coming weeks, after calls for an overhaul first emerged in 2018 in response to the collapse of UK construction contractor Carillion. The proposals are currently being circulated and are set to be signed off imminently, according to [...]
EY, Deloitte, KPMG, and PwC are the biggest employers of business grads, new figures show February 14, 2022 Business school grads are more likely to go into consulting, than any other industry, according to a survey of 300,000 business grads from OnlineU. More than a fifth (21.1 per cent) of business grads surveyed worked in consultancies, the figures show. Notably, the Big Four auditors alone employed more than 12 per cent of those [...]