SMEs confident about recovery but frustrated by lack of financial backing July 22, 2021 Owners of small and medium-sized enterprises are feeling more optimistic than last month but are struggling to get financial backing, according to figures from the Association of Chartered Certified Accountants (ACCA UK) and the Corporate Finance Network (CFN), shared with City A.M. today. The survey shows that 89 per cent of SME owners are trading [...]
Small businesses will drive recovery if they can access the right finance July 22, 2021 Having reached ‘Freedom Day’ this week, it would be gratifying to think that the small businesses that power our economies in the UK are on the path to a sound trading recovery. Economic indicators, including our own Global Economic Conditions Survey for the last three months, are reporting a strong rebound in the UK economy [...]
Ashurst’s equity profit bounces back to £1m per partner July 21, 2021 London-based law firm Ashurst has seen their equity per partner profit total to more than £1m in the previous 12 months from April 30. After five consecutive years of revenue growth the company has seen a 15 per cent growth in their partner profit over the year. Revenue for the company was also up 10per [...]
“DO sweat the small stuff”: how ESG missteps impact future performance July 21, 2021 We’ve written extensively on our concept of “corporate karma” – the idea that what goes around, comes around with regard to how companies treat their stakeholders. Since the start of the pandemic, we’ve written about our belief that a new social contract is emerging, particularly in relation to how employers treat their employees, and we’ve shown how it’s [...]
Should the regulator have the power to establish a standardised Code of Ethics for all the chartered accountancy bodies July 21, 2021 Loree Gourley, Chair of the ICAS Ethics Board, considers the BEIS consultation proposal for the regulator to have the power to establish and enforce a standardised Code of Ethics for all the chartered accountancy bodies. The BEIS consultation ‘Restoring trust in audit and corporate governance’ was published on 18 March 2021, with responses being due [...]
Barclays names new investment bank heads July 20, 2021 Barclays has promoted JF Astier and John Miller to lead its investment banking business, as part of a new management team to oversee the business that mainly advises on big corporate deals such as mergers and stock market listings. The bank said the team, which will also include the heads of divisions such as human resources, [...]
Exclusive: Sharp drop in fines against finance directors as HMRC has ‘bigger fish to fry’ July 20, 2021 The number of penalties issued personally to finance directors at large businesses by HMRC has dropped from 148 to just 20 in a year, according to new data, shared with City A.M. today. Law firm Pinsent Masons said that much of the fall in the number of fines against finance directors is due to HMRC [...]
Clifford Chance report record revenue and profits in sixth consecutive year of growth July 20, 2021 Law firm Clifford Chance announces its sixth consecutive year of profit and revenue growth despite the pandemic. For the year ended 30 April Clifford Chance saw its revenue rise to £1.8bn, though by a marginal rate of one per cent compared to the previous financial year. Its profit per equity partner increased by nine per [...]
The City of London’s Al Fresco dining is here to stay for one more year July 20, 2021 The City of London Corporation has agreed to ease the weight on the hospitality industry by offering free pavement licences for one more year. Amid table number and household restrictions, the UK’s hospitality sector has been making use of pavements for extra Al Fresco seating. “We expect the buzz of the City will swiftly return [...]
Fair regulation would prove to be a bullish thing for cryptocurrency July 20, 2021 Whether inside or outside the Metaverse, when you steal from the rich and give to the poor, the economy collapses, argues Dr Chris Kacher.