Home ownership becomes increasingly out of reach for young adults as average prices rocket 173 per cent in two decades October 8, 2018 The dream of home ownership is becoming increasingly out of reach for young people, as average house price increases have massively outpaced wage growth, a new study out today has found. Research by the Institute for Fiscal Studies (IFS) found average house prices in England have risen 173 per cent since 1997, while wages went up [...]
BDO reveals profit boost as it raises concerns over Brexit and audit break-up October 8, 2018 One of Britain’s largest professional services firms has warned that business leaders need clarity to prepare for Brexit and sounded a cautious note over reforms to the audit sector as it revealed rising profit and revenues. BDO posted an underlying revenue of £464.1m in its 2017/18 annual results, released today, an increase of 8.5 per [...]
High-profile failures have eroded trust in audit sector, says watchdog October 8, 2018 The UK’s audit watchdog has announced a new strategic plan to address “falling trust in business and the effectiveness of audit”, after a series of scandals in the sector. The Financial Reporting Council (FRC) released its ‘Developments in Audit’ report today, raising concerns over public trust in the profession, and constricted competition at the top [...]
Missing Interpol head Meng Hongwei resigns as China investigates possible law breaches October 7, 2018 China has confirmed it is holding the missing head of Interpol, Meng Hongwei, while its anti-corruption body investigates him for unspecified breaches of the law. The BBC reported last night that China's National Supervision Commission, which investigates cases of corruption involving public servants, confirmed on its website that it had detained Meng. Meng was reported [...]
Ex-HSBC chair tipped to lead Standard Life Aberdeen October 7, 2018 The ex-chair of HSBC is in the running to become board leader at the £610bn fund manager Standard Life Aberdeen, the Sunday Times reported. Sir Douglas Flint, who left HSBC in September last year after 22 years at the firm, is among two or three candidates under consideration to replace Sir Gerry Grimstone. Read more: Phoenix [...]
Fulham 1-5 Arsenal: Gunners’ rampant attack helps optimism return under Unai Emery October 7, 2018 “We’ve got our Arsenal back.” That was the chant coming from the away end at Craven Cottage after Aaron Ramsey flicked in his side’s third goal in a 5-1 rout of Fulham. Ramsey’s improvised finish at the end of a flowing team move was the apex of a heady second half in which the Gunners [...]
Fraudster-linked action group that took on RBS accused of overcharging investors October 7, 2018 Investors who signed up to an action group in a bid to sue RBS over its 2008 rights issue have been told they were collectively charged £8m through subscription payments, many of which should not have been made. The RBoS Shareholders Action Group company (AGC) brought together RBS shareholders who claimed the bank hid the true state of [...]
Uber revenue driven up but company warns over driver employments rights court battle October 7, 2018 Uber drove its revenue up by 61 per cent last year but warned an ongoing court battle over the employment status of its drivers could hurt its future finances. The private hire firm, which claims its drivers are self-employed, is fighting against an Employment Appeal Tribunal decision that drivers should be classed as workers with [...]
PwC faces Guernsey probe over audit of failed claims funder October 7, 2018 PricewaterhouseCoopers (PwC) is being investigated following a shareholder complaint over an audit it conducted into an investment body based in Guernsey, the Sunday Times reported. The accountancy giant was approached by the the Institute of Chartered Accountants in England and Wales (ICAEW), the paper said, over concerns raised about an audit conducted for Juridica Investments, an [...]
Head of EBRD faces calls for investigation over director dossier October 7, 2018 The representatives of several member states have called for the president of the European Bank for Reconstruction and Development to face investigation, over claims the international lender broke rules by gathering information on some of its own directors. Several members of the EBRD’s board complained about president Suma Chakrabarti’s conduct to its chief compliance officer [...]