LSBF Blog - Global Matters
The chairman of the International Accounting Standards Board, Hans Hoogervorst, has said the new IFRS 9 standard will give investors better insight on loan loss risks.
The IASB is the independent standard-setting body of the IFRS Foundation, which works with investors, analysts, regulators and others in the global accountancy sector.Read more >>
Ben van Beurden, chief executive of Royal Dutch Shell, has admitted that he hasn't a clue what will happen to oil prices in the coming months.
When posed the question by the BBC, Van Beurden replied: "The honest answer to that is I don't know."Read more >>
New statistics show that the public sector of the UK now only has 5.4 million workers, meaning it is at the lowest levels since records began in 1999.
The Department for Work and Pensions said the labour market figures saw a decrease of 16,000 in the second quarter, and overall public sector employment was down 59,000 over the last 12 months.Read more >>
Ernst & Young (E&Y) has released figures that reveal the best growth for the company since 2008.
With a strong performance across the width of its business and on a global scale, the UK's Big 4 accountancy giant saw revenues grow by 11.6% to a total of £18.6bn.Read more >>
With a Bank of England target of around 2% once again being missed, the latest figures show that the UK economy's inflation level has fallen back down to zero.
Sharp falls in both petrol and diesel prices played a major role, although they were not the only significant factors.Read more >>
A new survey conducted over the summer found that UK financial directors are more worried about the negative effects of a skill shortage than anything else.
China's economic slowdown and the possible of a 'Brexit' from the EU were seen as less of a threat to growth than the condition of the UK talent pool.Read more >>
Big 4 firm PwC has highlighted the contribution it makes to the UK economy in the company's annual report.
The professional services firm has claimed a £4.2bn input to the wider economy alongside £1.1bn in payments it made directly to the exchequer last year.Read more >>
SMEs and sole traders look likely to benefit from proposals to introduce a threshold for compliance with VAT Mini One Stop Shop (VATMOSS) regulations.
Small businesses trading e-services across the EU are currently obliged to charge VAT at the native rates of their customers living in the 28-strong membership, which has meant added workloads operating with several different rates.Read more >>
According to the latest government statistics, the number of UK SMEs that claim tax relief for research and development (R&D) has risen by almost a quarter.
The amount claimed has gone up from £1.4bn last year to £1.75bn as approximately 20,000 small businesses claim the relief, an increase from 16,000 previously.Read more >>
A new conference aimed at CFOs brought together some of Britain’s top financial and business personalities at the Royal Society of Arts.
The first CFO Agenda saw a panel of top players in the UK economy analyse issues facing the financial sector and beyond.
The event was aimed at chief financial officers, finance directors, and their finance teams, with the panel of guest speakers including eminent economists.Read more >>
KPMG has won the £8m contract as external auditor for global information services giant Experian from rivals PwC.
PwC have held the position for the last decade, but Big 4 competitors KPMG will take over for the financial year ending 31 March 2017.Read more >>
According to The International Energy Agency (IEA), next year US oil production will experience its biggest fall since 1992.
Low oil prices that have seen prices cut by half in the past year are blamed, together with overall slower economic growth.Read more >>
Workers in the UK are likely to enjoy wage increases in real terms this year after suffering long periods of below inflation increases.
The latest Salary Budget Planning Study from Towers Watson UK workers will see the first real wage rise since 2007 this year, and only Germany will rival the UK level.Read more >>
A new study of accounting, finance and business professionals has warned that too much regulation is holding back business growth.
The IFAC's survey found that two-thirds of the 300 respondents regarded the problem as a global issue that had a significant or very significant impact.Read more >>
The £25m takeover of Morrisons M Local shops is headed by Mike Greene, who previously starred in Channel 4’s The Secret Millionaire.
Best-known for investing in the Comet chain and now backed by Greybull Capital, Greene is leading the buyout of 140 of the convenience stores from the struggling supermarket retailer.Read more >>
In excess of 320,000 British businesses have lost a total of £6.4bn in the last year due to receiving poor advice, says a new report.
Research conducted by Direct Line for Business revealed that the average SME loses more than £20,000 a year.Read more >>
Members of the Association of Chartered Certified Accountants (ACCA) have been urged to make sure they are working in the public interest, as stated in a speech by their President at a members' recognition ceremony in Toronto.
In his keynote address, Anthony Harbinson asked his members to continue to promote responsible and ethical business practises with a wider aim of achieving sustainable global economic performance.Read more >>
Although FTSE 100 companies have earmarked £1.66bn for tax litigation purposes this year, it is actually down 31% from last year according to Thomson Reuters.
In 2014, £2.39bn was set aside for tax disputes, but this year's move by some of the biggest firms in the UK economy is a strong signal that the tax authorities' corporate tax evasion and avoidance policies are working.Read more >>
Young graduates in Britain have witnessed a year-on-year average wage increase of £1,000, a growth of 4.2 per cent.
The wage growth increase for British employees has brought the nominal median salaries of young graduates up to £25,000. As a comparison, the figure for non-graduates in the same age range was £18,000.Read more >>
Confidence in the UK economy continues to be positive from the country's finance directors, although their expectations are more modest than last year.
According to a survey of more than 100 FDs and CFOs, 58% of those occupying some of the UK's top financial roles expect to see growth of 1%-2.5% over the next 12 months.Read more >>
Conviviality Retail confirmed it is buying wholesaler Matthew Clark from Punch Taverns and Hertford Cellars for £200m.
The company's share price leapt after the announcement about the reverse takeover being struck via Conviviality's subsidiary Conviviality Brands, with Zeus Capital and Investec Bank acting on their behalf.Read more >>
New YouGov BrandIndex data has revealed that memorable ad campaigns really work when it comes to companies operating in the price comparison sector of the UK.
The study found that ad campaigns that built momentum and become part of popular culture have distinct effects on the success of a business.Read more >>
This question emerges from a recent ComRes survey which showed that four in ten students felt that their university course had not been worth the fee that they had paid, as reported by BBC Radio 5 Live.
This is in comparison to the last national student survey, which indicated 86% student satisfaction. So what are the factors that could affect these answers?Read more >>
Homeplus, Tesco's South Korean business, has been sold for £4.2bn, the UK's biggest supermarket chain and world's third largest retailer has announced.
With continued aggressive competition in the UK supermarket sector, the sale is aimed at paying down debt and shoring up the balance sheet.Read more >>
The 'Northern Powerhouse' could be the most substantial growth opportunity for England's Northern regions since Victorian times, according to a leading research institute.
The Institute for Public Policy Research (IPPR) is the UK's leading progressive think tank, and IPPR North is its dedicated arm dealing with the north of England, with bases in both Manchester and Newcastle.Read more >>