Accountancy body accused of ‘injustice’ after pocketing £13m in KPMG fines February 5, 2022 The UK’s professional body for accountants has been accused of “rank injustice” for pocketing the £13m in fines against KPMG over the Silentnight pension scandal. The Institute of Chartered Accountants in England and Wales (ICAEW) will keep all the money, despite accusations it is benefiting from the misbehaviour of those within its profession, The [...]
Tech stocks in a valley February 4, 2022 Just when Silicon Valley thought things couldn’t get any worse, they did. Meta tanked over 25 per cent on Wall Street yesterday, losing around $200bn (£147bn) in value, dragging the tech-heavy Nasdaq down along with it.
MPs call on government to deliver new motoring tax to avoid £35bn hole February 4, 2022 The UK Government could find itself with a £35bn financial hole if it doesn’t introduce an alternative motoring tax before 2030, according to a new transport committee report. MPs have argued that by banning the sale of new petrol and diesel vehicles from 2030, the Treasury could lose two sources of income, fuel duty and [...]
Brits should brace for further rate hikes from Bank of England, City economists warn February 3, 2022 Households should brace for further rate hikes from the Bank of England this year as it steps “up its fight against inflation”. The Bank will rapidly pivot policy toward getting on top of Britain’s cost of living crunch, City economists are betting after today’s decision to raise rates at back-to-back meetings for the first time [...]
Looking at a metaversal bear market February 3, 2022 Going short, going long, and trying not to catch falling knives around the metaverse, with Dr Chris Kacher.
KPMG sued for £1.3bn over audit of Carillion February 3, 2022 The court appointed officer in charge of liquidating collapsed construction giant Carillion is suing KPMG for £1.3bn, for its role in auditing the building contractor. The £1.3bn claim – filed by the High Court appointed Official Receiver (OR) – alleges that KPMG failed its duties as an auditor to spot misstatements in Carillion’s accounts. The [...]
Private equity market soars as dealmakers shrug off uncertainty February 3, 2022 Private equity dealmaking in the UK soared to record levels last year as dealmakers shrugged off pandemic and Brexit uncertainty, new data has revealed today.
Interview: Zoom beyond lockdown February 3, 2022 Zoom CIO Harry Moseley talks to Leah Montebello about the firm beyond Covid-19
Carillion’s liquidator seeks more than £1bn from KPMG over collapsed construction giant’s audit February 2, 2022 KPMG may be forced to pay more than £1bn in damages for its role in auditing collapsed construction giant Carillion. The Big Four firm has received a legal claim from the Official Receiver (OR) – a UK government officer responsible for managing Carillion’s liquidation – requesting the firm pays damages in excess of £1bn, Sky [...]
KPMG dishes out record pay to partners and £100m bonuses to staff February 1, 2022 Partners at KPMG have voted to invest £300m into a “once-in-a-generation” transformation of KPMG’s business, after handing out £100m in bonuses on the back of a “resilient” performance last year. The professional services firm said it would be handing out £100m in bonuses to its 14,700 staff, as it said KPMG partners were handed their [...]