Reeves urged to cut bank tax as UK competitiveness lags Banking Rachel Reeves is facing renewed calls to cut tax on the banking sector after new bombshell research laid bare the competitive disadvantage UK lenders are battling against. The Chancellor spared banks from a highly-anticipated fresh tax raid in the Autumn Budget but a new report – penned by the Association for Financial Markets (AFME) and [...]
Big Four consulting giants pivot to ‘high-growth verticals’ amid AI disruption Big Four Following news of Deloitte’s latest expansion, experts predict a wave of restructuring and a “high-growth vertical” focus across the Big Four giants. On Monday, Deloitte revealed its plans to launch a Europe, Middle East, and Africa (EMEA) firm, aiming to build a regional powerhouse that keeps pace with rapid technological change. The new firm will [...]
KPMG partner fined for using AI to cheat on internal training Big Four A partner at the Big Four firm KPMG has been fined $10,000 (£7,200) for using AI to cheat in an internal training course meant to test knowledge of the technology. KPMG Australia has forced an unnamed audit partner to redo a test after they uploaded training materials to an AI platform to help answer AI-related [...]
Mark Kleinman: South East Water’s excuses have run dry February 5, 2026 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his weekly City AM column South East Water’s excuses have run dry How the water industry could do with the raising of a Mervyn King eyebrow. While governor of the Bank of England in 2012, Lord King defenestrated Bob Diamond as [...]
KPMG posts strong revenue growth in first UK-Swiss results January 28, 2026 Big Four giant KPMG has reported revenue of £3.6bn for its year ended 30 September 2025, in its first year of results since the combination of its UK and Swiss businesses. These are the firm’s first results following the merger of the UK and Swiss businesses on 1 October 2024, which showed revenue rose to [...]
Bill Thomas’ successor: KPMG top job up for grabs amidst sector transformation January 27, 2026 The Big Four giant KPMG’s election for the next global chair and CEO is currently underway, as big names across the firm vie to succeed Bill Thomas. Thomas has held the leadership position since October 2017, but his term is expected to conclude on 30 September. KPMG International is now launching a process to elect [...]
AI-enhanced deception: The audit industry’s next big test January 19, 2026 The audit industry has been under the microscope over the past few years following a number of high-profile corporate collapses, prompting stricter measures to restore public trust. And with the rise of AI-driven fraud, auditors will be under more pressure than ever to adapt to an evolving risk environment. The Financial Reporting Council (FRC), the [...]
Jobseeker numbers rise ‘sharply’ in labour market setback January 12, 2026 The number of jobseekers rose “sharply” in December alongside a slump in demand for new hires, analysis has shown, posing a threat to the future of the UK labour market. Analysis of S&P Global’s purchasing managers’ index (PMI) indicated the jobs market weakened further at the end of last year, undermining hopes of a recovery [...]
City watchdog fines ex-Carillion finance chiefs for market manipulation January 7, 2026 The City watchdog has fined the former finance directors of collapsed construction firm Carillion for their role in making “misleading” statements from the company. The Financial Conduct Authority (FCA) said both Richard Adam and Zafar Khan were aware of “serious financial troubles” in Carillion’s UK business but failed to reflect this in company announcements. Adam [...]
EY extends global HQ stay on Thames January 6, 2026 Big Four giant EY has renewed the lease on its global headquarters until 2040. The firm’s UK and global HQ is at 1 More London Place, whose lease was set to expire in 2028 before the firm greenlit a contract renewal. The ten-storey building on the south bank of the River Thames, with 35,000 sq [...]