LSBF Blog - Global Matters
The Competition and Markets Authority has called on accountants to make sure their clients comply with competition law.
The non-ministerial government department has made a 60-second video summary that gives an introduction to competition law in the hope of keeping the issue fresh in the minds of advisors.Read more >>
Big Four firm E&Y (Ernst & Young) has appointed a new partner in its financial services transaction advisory practice.
Ajay Rawal is joining the leading UK accountancy sector company from Alvarez & Marsal, where he held the position of partner in the European financial industry advisory services group.Read more >>
According to new data from the Office for National Statistics (ONS), the number of workers in the UK who are on so called zero-hours contracts has gone up.
In the April to June period this year, 744,000 people were employed under the terms, which means that a 2.4% of the total number of people in work were affected. The number represents an increase of 0.4% on the same period from 2014.Read more >>
Although the issue of tax evasion by non-domiciled persons was a feature of the last election in the UK, the amount of tax revenue collected from them actually rose by 7%, according to city-based law firm Pinsent Masons.
In the firm's report, 2013/14 saw non-doms contribute £6.6bn in tax, an increase from £6.18bn on the previous year.Read more >>
The head of the International Monetary Fund Christine Lagarde thinks that the shockwaves from China's economic problems will cause other countries in the region to lose momentum.
The International Monetary Fund (IMF) boss warned that global growth will be weaker than forecasts have predicted as China’s manufacturing shrinks at its fastest rate since 2012.Read more >>
The UK economy is set to perform well over the coming autumn, according to a new report from the Confederation of British Industry.
A strong end to the year will come after the economy picked up over the spring and summer, with growth having increased from 0.4% in the first quarter to 0.7% in the second.Read more >>
Consumers in the UK can now make transactions of up to £30 by using contactless payment methods.
Replacing the previous limit of £20, card providers expect the change to see a sharp increase in the number of purchases using the system.Read more >>
After only two years in the job, Virgin Money's Chief Financial Officer Lee Rochford is leaving the company.
Rochford, who joined Virgin Money in October 2013, will serve out his notice period, although he is effectively standing down as CFO and executive director with immediate effect.Read more >>
China’s economy is not the only thing that is worrying Stateside investors, as a potential US rate rise is also looming.
The result has been the worst August in three years for US stock markets, with the Dow off 114 points, S&P 500 down 16 and Nasdaq falling 52 all in the same day.Read more >>
Researchers at the Norwegian University of Science and Technology have announced the results of a study that suggests hay fever can negatively affect exam performance.
According to the new research, school pupils who suffer from the condition, which is a common allergy reaction that mainly occurs around exam time months, do worse in their exams and may be less likely to attend a top university.
Read more >>
The Bank of England’s (BoE) agenda still includes a likely rate rise in spite of China's economic meltdown, Governor Mark Carney has said.
A decisive Monetary Policy Committee meeting at the end of the year will still go ahead in the face of global stock markets being hit hard by the movements of the Shanghai share index, with Carney claiming “recent events” wouldn't force a change in strategy.Read more >>
Eurostat has reported that the Eurozone inflation rate held steady at 0.2% in July.
The figure, which is well below the target of the European Central Bank (ECB), represented a big disappointment for backers of the monetary stimulus approach, which promised a swift answer to slow growth across the continent.Read more >>
Production has been approved for the Culzean gas field, the largest new oil and gas field to have been discovered in the North Sea in 10 years.
The UK Oil & Gas Authority has given Maersk Oil the go-ahead to start production, which is expected to meet 5% of the UK's entire gas needs when it hits its peak.Read more >>
Total, the French firm that is one of the biggest energy operators in the North Sea, has sold$900m (£585m) of its UK gas assets.
Two pipelines and the St Fergus terminal in Scotland are included in the sell-off, which has been blamed on the worldwide collapse of oil prices.
Read more >>
A new survey from Lloyds Bank suggests that cash may soon become extinct as more Britons switch to alternate methods of making payments.
The increasing popularity of contactless payments and the continuing rise in debit and credit card use means that a quarter of Britons think they will not be using notes and coins within only five years.Read more >>
A report by ACCA has found that there is a clear correlation for high-growth businesses with finance functions, extending beyond pure funding functions to being a strategic business partner.
Rather than playing an auxiliary role, the report found the finance function "played a central role" in the business planning of most of these successful SMEs.Read more >>
Individual long-term investors in mid-sized businesses need to be encouraged by more tax incentives, according to a new report from the Confederation of British Industry & BDO.
The report, jointly authored by BDO and the CBI says that additional tax incentives would enable more of the country's medium-sized businesses to achieve their full potential.Read more >>
Telecom giant Ericsson has been hosting special ‘unconscious bias’ training courses for line managers to help achieve the target of having a 30% female work force by 2020.
The face-to-face sessions for thousands of employees are part of a mentoring programme for high-performing female employees to help them move forward in their careers.Read more >>
Although China's central bank has cut its key lending rate it has not halted further stock market falls.
The new rate cut by the central bank of 0.25 percentage points meant its key lending rate now stands at 4.6%, however this has failed to calm the nerves of stock markets.Read more >>
The Chartered Management Institute (CMI) has published research that reveals that female bosses in the UK work for almost two hours a day unpaid.
The findings come to light when salaries are compared to their male counterparts and adds up to 57 days every year.Read more >>
The chairman of KPMG has weighed in on the future of the mature audit business by claiming that the UK's largest auditors have a public interest commitment to retain them.
In the face of more lucrative growth prospects and changing industry demands and regulations, Simon Collins, KPMG's UK chairman, told the Financial Times he felt the profession "can't afford" to reduce client choice.Read more >>
One of Britain’s Big 4 firms, Deloitte, has a profit pool of £593m to be shared out amongst partners.
The money is the result of a surge in revenues from its consultancy business, and means that 721 partners will receive an average of £822,000.Read more >>
The Russian currency has fallen in value in the wake of decreasing oil prices and the panic sweeping through global markets.
Setting its rate for August 25 at 70,74 roubles to the dollar, the Russian central bank saw its currency value at the weakest it has been since 1998.Read more >>
The Office for National Statistics (ONS) has released figures for 'employed human capital' in the UK, which is the total estimated future earnings of everyone in jobs in the country.
The data shows that the value of employed human capital increased in 2014 to reach £18.22tn.
Read more >>
The Confederation of British Industry (CBI) has claimed that increases in productivity, household spending, and business investment means UK GDP will see stronger growth than previously anticipated.
This has led the business lobby group to upgrade its forecast to 2.6% for the year.Read more >>