News coverage for KPMG

KPMG Sells Blacks to JD Sports Via ‘pre-pack’ Administration

KPMG Sells Blacks to JD Sports Via ‘pre-pack’ Administration

Brian Green, Richard Fleming and David Costley-Wood of KPMG were appointed joint administrators to Blacks Leisure Group. On appointment, the administrators sold the business to JD Sports. JD Sports has acquired substantially all of the assets, including all 302 stores operating under the Blacks and Millets brands and the 3,500 staff who work there. No [...]

Global Automotive Players Unclear of the Future

Global Automotive Players Unclear of the Future

With China slated to be the world’s biggest market for auto sales and exports by 2025, and demand for electric vehicles expected to be the highest in emerging markets, global auto players should have a clearer vision of the way forward on issues critical to the industry. But it appears they don’t just yet, according [...]

New Alliances Among Auto and Technology Players on the Rise

New Alliances Among Auto and Technology Players on the Rise

Global car manufacturers and IT companies are realising the car’s potential as a gateway to the internet, according to KPMG’s 13th Global Automotive Executive Survey. The majority (59%) of global car executives say the most successful investment strategy in the future for auto players worldwide is corporate partnerships such as joint ventures (JVs) and/or strategic [...]

Gloomy 2012 Awaits Retailers Despite Olympics, Inflation Boosts

Gloomy 2012 Awaits Retailers Despite Olympics, Inflation Boosts

The New Year will fail to bring a rosier outlook for the UK’s struggling retailers, according to the KPMG/Synovate Retail Think Tank (RTT). Even the London Olympics, the Queen’s Diamond Jubilee celebrations and a falling inflation rate are unlikely to provide much respite for those hardest hit. When considering the prospects for 2012, the RTT [...]

Pub, Restaurant Groups See Continued Sales Hike

Pub, Restaurant Groups See Continued Sales Hike

Britain’s leading pub and restaurant groups saw sales continue to grow in November, while collective like-for-like sales were up 2.1% on the same month last year, with total sales, which include the effect of new openings, ahead 6.2% on November 2010. It is the sixth month running that the eating and drinking-out-of-home market has seen [...]

Social Media Rules of Engagement to Change in 2012

Social Media Rules of Engagement to Change in 2012

In the wake of research suggesting British businesses lag behind their counterparts in the emerging markets when it comes to adopting and using social media, Mark Guinibert, Customer & Channel Partner at KPMG, has outlined 3 key changes he believes UK organisations must adopt, if they are to boost performance in 2012. Focusing on the [...]

UK Tour Operators Face ‘Make or Break’ 2012, Says KPMG

UK Tour Operators Face ‘Make or Break’ 2012, Says KPMG

A number of UK travel companies and tour operators will struggle to survive in 2012 unless they radically change their business models and adapt to a fundamentally new market environment, says advisory firm KPMG. The phenomenal rise of low cost carriers, online travel booking and the challenging economic backdrop, combined with fuel and Air Passenger [...]

Businesses Warned Against ‘Friendly Caller’ This Christmas

Businesses Warned Against ‘Friendly Caller’ This Christmas

With professional criminals accounting for 74% of fraud against commercial business during the first half of 2011 according to KPMG’s Fraud Barometer, the firm advises extra vigilance and pre-emptive measures over Christmas and the New Year as skeleton staff levels can leave companies exposed to organised criminals. As businesses look to cover staff absence, many [...]

Insurers to Return to ‘Underwriting Disciplines’ Next Year – KPMG

Insurers to Return to ‘Underwriting Disciplines’ Next Year – KPMG

The coming year will see a return to underwriting disciplines for general insurers as their financial performance comes under greater scrutiny and they face increased regulatory interest, a KPMG official said. “2011 could be defined as a solid year. Non-life insurers were beset by overseas catastrophes, yet met their commitments. Elsewhere some enjoyed a gradual [...]

Point of No Return for UK Banks

Point of No Return for UK Banks

The face of banking in United Kingdom has “fundamentally changed”, paving the way for the need for them “to wake up on living wills,” according to KPMG UK. Jon Pain, UK head of financial services risk consulting at KPMG, said: “The green light has been given for the main proposals of the ICB to be [...]

‘Global Banking Will Look Fundamentally Different in 12 Months’

‘Global Banking Will Look Fundamentally Different in 12 Months’

The upcoming year “will likely be remembered as a watershed moment for global banking, with banks pressured to completely overhaul their business models and structures,” according to KPMG’s banking outlook. Historic rates of return on equity have been affected by current market realities. Banks are already making radical adjustments in a bid to create value [...]

Sluggish Car Sales Mark Challenging Times for Dealers – KPMG

Sluggish Car Sales Mark Challenging Times for Dealers – KPMG

New car sales in November 2011 was 4.2 percent down on the same month a year ago, though new car registration figures remain better than the SMMT forecast at the start of the year, according to KPMG. “In the face of rising unemployment and low consumer confidence the sector has remained surprisingly resilient. That being [...]

Economic, Business Prospects Gloomy Among London Firms

Economic, Business Prospects Gloomy Among London Firms

A meagerly 13 percent of London businesses feel more optimistic about prospects for the economy over the next six months, compared with 43 percent in June, and optimism percent over the same period, according the latest CBI / KPMG London Business Survey. In the latest bi-annual survey of 262 London business leaders, just over half [...]

Manufacturing, Services Sectors Gain Confidence

Manufacturing, Services Sectors Gain Confidence

Across the manufacturing and services sectors, KPMG’s latest Business Outlook survey indicates some level of confidence, though tempered by comparisons to the business outlook six months ago. According to the data, a significant minority of manufacturers expect activity to rise over the coming year. However, the balance of positive sentiment – at 31 percent – [...]

E&Y to Probe Judgement, Accounting at Olympus

E&Y to Probe Judgement, Accounting at Olympus

Olympus auditors Ernst & Young will look into how it conducted the accounting and judgement on the &1.7 billion fraud at one of the world’s biggest camera makers. Ernst & Young ShinNihon LLC has formed a committee to determine whether there were errors when the Big Four accounting firm audited the finances of Olympus Corp. [...]

Sweeping Technological Changes Around the Globe

Sweeping Technological Changes Around the Globe

Consumers around the world are embracing new technology at a rapid pace, a fact that is changing lifestyles and the commercial landscape around the globe, according to KPMG’s latest Consumer & Convergence Report. The report entitled “The Converged Lifestyle” reveals that consumers today have more choice in devices than ever before and that this choice [...]

Spectrum Auctions Revenues May Hit €20 Billion in Western Europe – KPMG

Spectrum Auctions Revenues May Hit €20 Billion in Western Europe – KPMG

Estimates of Spectrum auction revenues across Europe could be in the region of €20 billion between 2011 and 2015, according to KPMG’s Spectrum Monitor. While next year’s spectrum auction may fall short of the revenues raised in 2000 and 2001, it raises a number of complex and strategic issues for governments, regulators and operators alike. [...]

KPMG Bags ‘Global Firm of the Year’ Award

KPMG Bags ‘Global Firm of the Year’ Award

For the second year running, KPMG has been named ‘Global Firm of the Year’ at the British Accountancy Awards (formerly Accountancy Age Awards) and also picked up three other honours – ‘Audit Award of the Year’, ‘Community Award’ and ‘Training Manager of the Year’. In awarding the ‘Global Firm of the Year’ prize, the judges [...]

UK Manufacturing Output Down

UK Manufacturing Output Down

The global export markets have depressed the UK manufacturing output, according to accounting and business consulting firm KPMG. “The manufacturing sector in the UK is starting to feel the impact of the slowdown in global markets. Data from Markit/CIPS UK manufacturing PMI shows that figures have contracted for the second successive month in November, down [...]

Weather Blamed for Poor Retail Performance

Weather Blamed for Poor Retail Performance

The poor or unexpected weather has always been the reason performance figures by UK retailers have plummeted of late, according to the latest White Paper from the KPMG/Synovate Retail Think Tank (‘RTT’). The panel of industry commentators, who meet on a quarterly basis to provide an authoritative and independent view on issues that affect the [...]

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