Latest News Releases

Richard Threlfall, head of UK transport advisory, comments on the high-speed rail plans announced by the government today:

 UK retail sales values rose 2.2% on a like-for-like basis from February 2009, when sales had dropped 1.8%, hit by snow and consumer caution. On a total basis, sales rose 4.5% against only 0.1% growth in February 2009.

The Leeds City Region has appointed KPMG to advise on its structure, remit and the delivery of investment decision-making.

Commenting at the start of the International Hotel Investment Forum (IHIF) 2010 in Berlin on the 8th-10th March, Richard Hathaway, Head of Travel, Leisure and Tourism at KPMG said:

But deal volumes out of the developed economies fall for a fourth consecutive period.

Organisations across the UK have less than 20 working days until they need to start complying with the Government's new Carbon Reduction Commitment (CRC), or face penalties that will hit their bottom line, even before carbon trading begins in 2011, warns business advisors KPMG.

Industry's own "swappage" initiative  may cushion the blow

The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs - published today - provides the most comprehensive guide to the UK labour market, drawing on original survey data provided by recruitment consultancies.

Legislation will fundamentally change the savings and investments landscape with wide-reaching implications for insurers, banks, asset managers and IFAs

Paul Flint and Brian Green from KPMG Restructuring have been appointed as joint administrators of Blackburns DMS Limited, the Leeds-based direct mail company.

KPMG predicts majority of deals will be small to medium sized and triggered by stressed and distressed situations.

India confirmed today in its annual budget that its economy has grown by 7.2 percent in the current full year (2009-10) and announced a growth target of 8.5 percent for next year (2010-11). 

KPMG takes top advisory prize at 2010 Euromoney Islamic Finance Awards

Paul Flint and Brian Green from KPMG Restructuring have been appointed as joint administrators of Metalbuild Limited, the Merseyside-based designer and manufacturer of industrial steelwork.

Paul Flint and Brian Green from KPMG Restructuring have today been appointed as joint administrators of Bobby Jones Lifestyle Limited, the Preston-based wholesaler of golf clothing and accessories.

The creditors of Speciality Retail Group Ltd (SRG), the menswear retailer, which trades as the Suits You, Racing Green and Young's brands, have voted through the company voluntary arrangement (CVA) proposal, which sets out a financial compromise between landlords and the company. 

KPMG has appointed Michelle Quest as UK Head of People, to lead the UK firm's people strategy and policy development.

Public service delivery in the UK needs to be redefined and fundamentally transformed as the country tackles the budget deficit and enters what could be a decade of austerity, a study by advisory firm KPMG recommends.

Regulation remains key driver of convergence

The CIPD and KPMG today release the migrant worker findings from their quarterly Labour Market Outlook survey, a week ahead of the ONS Migration Statistics Quarterly Report. The findings from the Labour Market Outlook survey show that the recession has not dampened employers' enthusiasm for hiring migrant workers.  Around one in five (19%) employers recruited migrant workers in the past three months, with public sector employers more likely to hire migrant workers than private sector employers (24% compared to 15%). 

Yvo De Boer, one of the world's leading authorities on climate change and sustainability, is leaving his international role with the United Nations to join KPMG, the global network of professional service firms.

Allan Graham and David Standish from KPMG Restructuring were appointed Joint Administrators of The Print Factory London (1991) Limited, DSR Group Limited, Reelform 2007 Limited on Wednesday 17 February 2010.

Commenting on the Society of Motor Manufacturers and Traders (SMMT) production figures, Mike Steventon, Partner with KPMG's automotive group said:

More redundancies and a substantial fall in employment intentions in the public sector marks a difficult quarter for the jobs market, despite the UK's emergence from recession.

Severe weather during early January took its toll on Britain's eating and drinking out market.

Retail sales in central London in January were 3.5% higher on a like-for-like basis than a year ago, when sales had risen 6.5%. This was the worst January sales growth since 2005. 

 UK retail sales values fell 0.7% on a like-for-like basis from January 2009, when sales had risen 1.1%. On a total basis, sales rose 1.2% against a 3.2% increase in January 2009.

- 25% increase on previous quarter

Mark Firmin and Howard Smith from KPMG Restructuring have been appointed joint administrators to Drivelink UK Limited, an independent automotive component re-manufacturer based in Gateshead.

At its February meeting, the Monetary Policy Committee (MPC)  voted not to extend its asset purchase programme this month. Andrew Smith, KPMG Chief Economist commented:

Speciality Retail Group Ltd (SRG), the menswear retailer, which trades as the Suits You, Racing Green and Young's brands, has announced today a company voluntary arrangement (CVA) proposal.  SRG runs 71 stores across the UK and employs approximately 300 people.  There will be no immediate store closures or redundancies.

Commenting on the Society of Motor Manufacturers and Traders (SMMT) new car registration figures, Mike Steventon, Partner with KPMG's automotive group said:

KPMG have hired Jacky Ross as Partner, Sheila Pringle as Associate Partner and Joy Voyle as a Director to lead the firm's financial management team which will focus on the infrastructure, government and health sectors.

KPMG in the UK has appointed tax partner, Anneli Collins, to the role of head of tax policy in the UK. 

The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs - published today - provides the most comprehensive guide to the UK labour market, drawing on original survey data provided by recruitment consultancies.

Whilst the UK has recently exited recession it appears that football may just be entering it, according to KPMG's Football Transfer Monitor.

KPMG in the UK has lent its support to the Accounting Standards Board's (ASB's) proposal of further convergence between UK and international financial reporting standards, in its response to the ASB's latest consultation on the future of UK Generally Accepted Accounting Practice (UK GAAP).

The scheme payment percentage for Sovereign Marine & General Insurance Company Limited ("Sovereign") has been increased from 65% to 80% with effect from 1st February 2010.

The majority of public sector executives in the UK think that lack of funding and government effectiveness are the top challenges to delivering infrastructure projects, according to a survey commissioned by KPMG

British companies are the most bullish in Europe about their prospects for future growth, with 83% of chief executives claiming that the outlook for their business in 2010 is either good or very good, according to new research from KPMG International.

- Businesses reluctant to review executive long-term incentive plans when business performance is static or worse

- 2010 likely to see a sharp uplift in number of new and amendments to existing executive long-term incentive plans if economy picks up

Commenting on the FSA's announcement today on how it will translate the Walker Review into tangible rule changes, Marcus Sephton, head of regulatory services at KPMG said:

- Innovation key to staying ahead of increased competition from Middle East and China

- Joint Ventures and strategic alliances set to increase

Commenting in advance of the UK GDP figure announcement tomorrow, Simon Collins, Head of Corporate Finance at KPMG said:

Alan Downey, Head of Public Sector at KPMG comments on the fact that the UK economy has come out of recession:

The 2000s were a decade of fraud, according to KPMG Forensic's Fraud Barometer, reaching a peak in 2009 when a record £1.3bn of cases came to court.

Difficult decisions to be made and one "slip" could trigger a disproportionately large tax bill, according to KPMG in the UK

KPMG's quarterly review and predictions for management buyout (MBO) activity has shown that, following the cliff drop post-Lehman, deal values are starting to hold up, suggesting a slow but assured increase in private equity activity in 2010.

More businesses fail coming out of a recession - automotive industry still on thin ice, says KPMG

Following its January sitting, the KPMG/Synovate Retail Think Tank (RTT) revealed the following:

MEF's fourth Business Confidence Index (BCI), compiled by KPMG, points to signs of recovery and a clear trajectory of revenue growth of 28% for the coming year.

Like-for-like sales across Britain's leading pub and restaurant groups grew 2.9% in December, compared to the same month in 2008

"Audit committee members know they have a sizeable task in 2010 as they confront high shareholder expectations, new regulations and legislative reforms, and a tenuous economic recovery," said Timothy Copnell, director of KPMG's UK Audit Committee Institute (ACI) and an Associate Partner at KPMG."

December sales:"Stronger than we dared hope"

Commenting on today's announcement by Gordon Brown on the construction of nine offshore wind farms, Andy Cox, Energy Partner at KPMG said:

KPMG's 2010 survey of the global automotive industry is predicting that - despite a year of business failures and closures - much of the expected restructuring in the sector is yet to come.

Gautam Dalal, KPMG's UK Head of Diversified Industrials, offers his 2010 predictions for the manufacturing sector:

Mike Morrison and Charles Thresh of KPMG Advisory Ltd in Bermuda and Michael Walker of KPMG LLP in the UK were appointed joint provisional liquidators of ESG Reinsurance (Bermuda) Ltd ("ESG") on 24th December 2009 by Order of the Supreme Court of Bermuda.