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Accountancy 13-06-2018

KPMG dealt £3.2m fine for Quindell audit misconduct

The Financial Reporting Council (FRC) has hit ‘big four’ accountancy firm KPMG with a significant fine for its actions relating to their Quindell audit. The fine was originally set at £4.5 million, but was discounted to £3.2 million on settlement by the firm. Insurance software company Quindell, now renamed to Watchstone, had been the subject […]

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Business 12-06-2018

New rules force companies to justify pay gap

The government is set to announce new rules, which will force big businesses in the UK to make gap between executive and worker pay public. The laws, which will apply to companies of 250 employees or more, also means companies will need to justify the salaries given to top bosses. The move comes as a […]

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Business 12-06-2018

Scotland sees record overseas investments

EY’s latest Scotland Attractiveness Survey shows a boom in activity from overseas, with a record number of Foreign Direct Investment (FDI) projects. The report had figures for 2017 sitting 7% higher than the previous year, the third consecutive year of record growth. The figures showed FDI projects rising from 108 in 2016 to 116. Business […]

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Business 12-06-2018

Rolls-Royce planning job cuts

In an attempt to increase profits, Rolls-Royce is poised to cut over 4,000 jobs. The cuts, which reports say will be announced later this week, come as a part of simplifying the company’s middle-management and administrative structure. JP Morgan analysts estimated the cuts could save £200 million within the next three years. A Rolls-Royce spokesman […]

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Business 08-06-2018

Premier League chief Richard Scudamore to step down

After almost 20 years in charge, the Premier League’s executive chairman Richard Scudamore is to resign by the end of this year. Scudamore announced the news in front of EPL shareholders a their meeting in London. The 58 year old made a statement, saying: “It’s an absolute privilege to have been allowed to enjoy this […]

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Finance News 08-06-2018

CBI predicts economic slowdown for UK

In a recently released forecast, the Confederation of British Industry warns of a decline in growth for the UK due to its exit from the EU. The organisation gave a revised prediction for GDP growth this year, sitting at 1.4%, lower than an earlier forecast of 1.5%. They added the figure is likely to fall […]

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Business 08-06-2018

Thousands of jobs at risk as House of Fraser announce closures

In their last step to avoid administration, House of Fraser plans to shut 31 stores across the UK, over half of their 59 total. The move is likely to put 6,000 jobs in jeopardy, as part of a company voluntary arrangement (CVA), which bosses hope will save the business from going under. Under a CVA, […]

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Entertainment 08-06-2018

Amazon enters Premier League broadcasting picture

US giant Amazon has made a significant step into the sports market, landing a deal to show a number of live Premier League games on their live streaming platform. 20 games per season, starting from the 2019/20 season, will be shown on Amazon’s Prime Video streaming service, as the company looks to capitalise on a […]

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Business 08-06-2018

Northwest clubs lead record Premier League revenues

Deloitte’s Sports Business Group has released their annual review of football finance, finding positive results for the English Premier League, lead by five Northwest clubs. Manchester United, Manchester City, Liverpool, Everton and Burnley combined to earn approximately £1.7 billion in revenue for 2016/17, out of £4.5 billion total from the league’s 20 clubs. Three of […]

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Construction 08-06-2018

£150 million fallout from Carillion collapse

Construction company Carillion’s demise is set to cost taxpayers at least £148 million, according to the National Audit Office. The company went into liquidation in January, amid over £1.5 billion worth of outstanding debts. While the government has allocated £150 million for the costs of the liquidation, the NAO released a report indicating the cost […]

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