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KPMG has announced the appointment of Dr James Dimech DeBono as an Associate Partner in its financial risk management practice.

Joachim Schindler, head of audit for KPMG Europe LLP since 2007, has been named global head of audit for KPMG International, according to an announcement by Timothy P. Flynn, chairman, KPMG International.

KPMG has reached its fundraising target of £1million for its staff selected people charity, Alzheimer's Society over one month ahead of schedule with further events still to be held.

·        Growing polarisation between the pensions 'haves' and 'have nots' as one in three FTSE 100 companies unable to pay pension deficits from current discretionary cash flow

·        Trustees need to maintain a long-term view to support their sponsors' growth

·        £2 out of every £3 already being spent on past deficits rather than current employee benefits

Lack of formal consultation "surprising”, says KPMG

·         Extended research also highlights extent of activity between emerging economies as tomorrow's multi-nationals begin to form.

But it could inadvertently act as a catalyst for wider economic changes that may adversely affect retail spending

The latest focus study on skills, migration and off shoring in the CIPD/KPMG Labour Market Outlook report shows that demand for migrant workers has increased in line with improvements in the UK labour market during the past year.

The global hotels and restaurant sector has seen a sizeable fall in optimism about its prospects for the coming year, according to KPMG's latest Global Business Outlook survey.

Edinburgh corporate finance raise funding for tidal turbine developer Hammerfest Strøm

A new Leasing Exposure Draft released today jointly by the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) would affect nearly every entity, says KPMG.

Average like-for-like sales across leading restaurant and pub groups were up +1.9% in July. This follows 1.4% lfl growth in June

'ORSA' key to understanding between risk and solvency position for European insurers in light of Solvency II

Profitability still significantly down on pre-credit crunch era

Alan Downey, head of public sector at KPMG, comments on the Cabinet Office announcement of the Mutuals Pathfinders programme:

- as Ministry of Justice figures show 19% drop in bankruptcies -

Performance and Technology ('P&T') Advisory division has acquired Analitica, a leading Business Intelligence ('BI') and Enterprise Performance Management ('EPM') consultancy. The company will be absorbed into P&T's BI practice with immediate effect.

. UK retail sales values rose 0.5% on a like-for-like basis from July 2009, when sales had increased 1.8%. On a total basis, sales were up 2.6% against a 3.6% increase in July 2009.

. Food sales growth picked up, though the growth was flattered by a smaller gain a year ago. Clothing sales growth was boosted by clearance deals but footwear was more difficult. Homewares fell back, with big-ticket items in particular hit by consumer uncertainty over job cuts and income prospects.

. Non-food non-store sales (internet, mail-order and phone sales) slowed in July and were 11.3% higher than a year ago, the weakest growth for almost a year.

Dan Thomas, Partner and Head of Remediation at KPMG, comments on the Financial Services Authority's publication of the final rules on how financial services firms will need to review complaints of the mis-selling of payment protection insurance (PPI) and offer refunds or redress to customers where the sale was unsuitable:

The latest quarterly CIPD/KPMG Labour Market Outlook survey indicates that the employment recovery has stalled, but that the disparity between the public and private sector remains significant. But worse is to come as redundancy intentions have picked up among the 600 employers surveyed, representative of the whole economy.

- while overall administration figures are down 19% on previous year

Personal insolvencies up by 5% from last year

Creditors of Modus Properties (Wigan) Limited and Modus (Wigan) Limited vote through CVA proposal

. Technology presents new opportunities for efficiency and citizen engagement
. Report outlines four-point plan for government to leverage new technologies

KPMG welcomes today's release of proposals by the International Accounting Standards Board (IASB) for a new accounting model for insurance contracts.

Audit committee members in the UK and around the world say that they are beginning to see a return to 'normal' conditions, with their audit committee agendas becoming more like pre-credit crisis agendas again, according to a survey by KPMG's Audit Committee Institute (ACI).  Over three-quarters of audit committee respondents say that this is the case.

KPMG in the UK has recruited Paul Brenchley from the FSA as a director in its Insurance Risk team within the Risk and Compliance Advisory practice.

Commenting on the government's announcement to safeguard the electric car grant, Mike Steventon, Partner in KPMG's Automotive Group, says:

Chris Huhne, Energy and Climate Change Secretary, unveiled the Coalition's energy policy today.

KPMG in the UK has today announced the appointment of Mazyar Kotwal as director in its International Markets team

UK defence suppliers stand to benefit from an overhaul of India's armed forces, involving a major procurement programme by the Indian government.  KPMG says this offers the UK defence sector growth opportunities their home market no longer provides.

KPMG also warns that the tight timescale could lead to administrative problems

The government has today issued a number of consultation documents, including a note on interim improvements to the controlled foreign companies (CFC) tax rules, which have been under review for some time and which have often been cited as an area where business is particularly unhappy with the UK tax regime.

But more open to targeted ads in return for content

The UK risks missing its carbon emission targets without early and radical reform of the electricity markets.

The government's planned contract renegotiations with its major suppliers will hit UK construction companies harder than suppliers from other sectors, given the industry's reliance on public sector money in the aftermath of the credit crunch and the ongoing lack of private investment, warns advisory firm KPMG.

At the request of the director, Howard Smith and Mark Firmin from KPMG Restructuring in Leeds have today been appointed Joint Administrators of Forge Dam Limited, the sheet metal designer and fabricator.

KPMG has announced today the appointment of Ferdia Byrne as Partner and Claire Farrelly as Associate Partner to its insurance risk and actuarial practice.

UK retail sales values rose 1.2% on a like-for-like basis from June 2009, when sales had picked up 1.4%, helped by the heatwave in the second half of the month. This June was slightly less hot, but sunny for most of the month. On a total basis, sales were up 3.4% against a 3.2% increase in June 2009.

- Most of the impact borne by those yet to retire but for 20 percent of schemes, existing pensioners likely to be hit too

- Based on this data, KPMG estimates changes will reduce private sector pension deficits by around £45 billion*

Investment banking revenues prop up huge retail impairments

-while distressed deal freeze thaws

KPMG in the UK has been awarded the Carbon Trust Standard across all 22 of its UK offices after taking action on climate change by measuring and reducing its carbon emissions by 5.5% in the year to September 2009*.

Further strong rise in permanent staff placements, albeit slowest in five months. 

Growth of temporary/contract staff billings eased to seven-month low.

Wages and salaries continued to rise.

Commenting on the Society of Motor Manufacturers and Traders (SMMT) new car registration figures, Mike Steventon, Partner in KPMG's Automotive Group, says:

Sarah McCreath, director in KPMG's audit practice has risen through the ranks to become KPMG's first auditor on Management Today's '35 Women Under 35' list, which showcases the achievements of young women in business. 

London Olympic Park, London Crossrail and Evelyn Grace Academy in Brixton are among the world's most ambitious infrastructure projects

A lack of focus on tax considerations may mean the objectives of UCITS IV (a harmonised and more efficient UCITS market across Europe) will be undermined, finds a new research report from KPMG International, Fill the glass to the brim: Analysis of the tax implications of UCITS IV and the impact for funds operating cross border.

New proposals on revenue recognition accounting published jointly yesterday by the IASB and FASB are broadly good news for the building and construction industry, according to KPMG.

-  Regulatory requirements may constrain the pursuit of alpha

 - Investor demands for simple, clear, low-risk products may inhibit innovation

CGT rise raises spectre of main residence 'flipping'.

Relatively speaking, UK plc may be breathing a sigh of relief today as the Chancellor delivered a budget which announced business tax cuts and measures to stimulate job creation.

In response to Chancellor George Osborne's announcement of a reduction in corporation tax and an increase in VAT, Nigel Harman, UK Head of Banking at KPMG, said:

"The change to corporation tax announced today is a double-edged sword for banks. On the one hand, the gradual reduction in this tax over the next four years means that the value of deferred tax assets to UK banks will reduce considerably.

The Emergency Budget today announced proposed reductions in the main two rates of Capital Allowances.  The main rate will be reduced from 20% to 18% and the special rate (for long life assets and integral features) from 10% to 8%.  These reductions are utilized to pay in part for the up coming phased reduction in the headline corporation tax rate from 28% to 24%.

Today's Budget saw no changes to inheritance tax - the nil rate band remains at £325,000 and the death rate at 40%.

"Cuts and tax rises shocking at first glance but Chancellor ought to be congratulated on a comprehensive and balanced package of measures”

Business should not be complacent as major areas will be up for consultation.

But rise could have been worse, though serial entrepreneurs left disappointed.

George Osborne delivered a carefully balanced budget leaving many SMEs feeling that they haven't done too badly as the UK attempts to address the budget deficit.

Commenting on today's Budget announcement, Fiona McDermott, Head of Building & Construction at KPMG:

• 2011 Blow to retailers as VAT increase confirmed
• UK drops from 3rd lowest to joint 12th highest VAT rates in EU

Commenting on today's Budget announcement, Jonathan Thompson, Global Head of Real Estate, said:

Dr. Ashley Steel, KPMG's Global Chair for Infrastructure and Transport comments on the Chancellor's plans for the sale of government assets:

"Government should set up 'redeployment' scheme for public sector employees”

Commenting on today's Emergency Budget, KPMG chief economist Andrew Smith said:

Andrew Cawley, UK Head of Pensions at KPMG commented:

 "If the Government's intention was to spread the burden of restricting pension tax relief, then the annual allowance approach announced today, achieves this.  Rather than affecting 2 percent of pension savers, it could now impact many more higher rate tax payers - around 10 percent of all pension savers. 

 Ian Hopkinson, UK Head of People services KPMG comments:

 "The employment measures announced today leave higher earners largely unaffected, but provide some measure of relief for employers and basic rate tax payers. 

Door open for some construction programmes to be disinvested in favour of others.

In response to Chancellor George Osborne's announcement of a levy on bank balance sheets, Nigel Harman, UK Head of Banking at KPMG:

VAT implementation most acutely felt by SMEs. Richard Fleming, UK Head of Restructuring at KPMG, comments on the impact of today's Emergency Budget on businesses in distress.

Dr. Ashley Steel, KPMG's Global Chair for Infrastructure and Transport comments on the Chancellor's plans for regional transport projects:

Dr. Ashley Steel, KPMG's Global Chair for Infrastructure and Transport comments on the Chancellor's capital spending plans:

"Silence is golden” so far as the UK's non-dom community is concerned, according to David Kilshaw, Head of Private Client at KPMG.

The administrators of Pilkington's Group, the leading manufacturer and distributer of wall and floor tiles, have confirmed today that 204 staff have been made redundant at the Swinton site.

Jane Moriarty and Allan Graham at KPMG, were appointed joint administrators to the Eton Group Ltd, Academy Town House Hotel Ltd, Colonnade Town House Hotel Ltd, Threadneedle Town House Hotel Ltd, Quebec Town House Hotel Ltd and The Glasshouse Hotel Ltd, ("the companies”) on 16 June 2010.

The administrators of Pilkington's Group, the leading manufacturer and distributer of wall and floor tiles, have confirmed today that production of tiles at the Poole factory in Dorset will not be recommenced.  The closure has resulted in the redundancy of 37 employees today.  The remaining 8 employees at the Poole site will be retained in the short term to maintain the site and despatch existing orders

The joint administrators of Warrington based Touchline (UK) Limited, Paul Flint and Brian Green from KPMG Restructuring, have sold the business to DFN Embroidery Limited, a new company backed by the management.

Paul Flint and Brian Green from KPMG Restructuring in Manchester have been appointed as joint administrators of Pilkington's Group plc, the leading manufacturer and distributer of wall and floor tiles.

- Like-for-likes slip -1.2% in May, after April gain

- Later school half-term holiday affects business

.   Retail sales in central London in May were 11.6% higher on a like-for-like basis than a year ago, when sales had risen only 1.7%. Stronger consumer confidence in London helped boost sales.

.   Retail footfall in May picked up to just above its year-earlier level, after a year-on-year decline in April. Special sales events and discounts helped attract shoppers into the capital.

.   Sterling's weakness continued to attract overseas visitors, especially from western Europe, China and the Middle East. Tourists began to return to the UK after the volcanic ash disruption eased.

.    Food sales strengthened again after Easter distortions had depressed sales in April. Non-food similarly picked up. Clothing, footwear and outdoor leisure were boosted by sunny weather.

KPMG Partner, Dr Timothy Stone has been awarded a CBE for services to the Energy Industry.

-  CPPR report looks at the degree to which higher spend in Scotland may be warranted by causal factors.

-  KPMG says health service in Scotland may need to demonstrate further efficiencies in response to this year's Spending Review.

Retail sales values rose 0.8% on a like-for-like basis from May 2009, when sales had fallen 0.8%. On a total basis, sales were up 3.0% against a 0.8% increase in May 2009.

New report finds that demands from institutional investors are transforming the alternative investment industry

And wins four 'Big Ticks' in BITC's Awards for Excellence.

At the request of the directors, Paul Flint and Brian Green from KPMG Restructuring have been appointed as joint administrators of Touchline (UK) Limited.

Other key findings:

US is top renewable energy investment destination, followed by India and China

Blair Nimmo and Gary Fraser of KPMG were appointed joint administrators of Peter Scott & Company Ltd late yesterday (27th May 2010), at the request of the company directors. 

Tudor Aw, Head of Technology, KPMG comments following the launch of the Apple iPad:

"The excitement around today's iPad launch clearly shows that Apple have once again been successful in delivering the form factor their customers want and with other tablets due for release in the coming months this sector will no doubt grow exponentially over the coming twelve months from a consumer perspective. 

KPMG has today announced the appointment of Andrew Cawley as UK Head of Pensions with effect from 1st July 2010.

KPMG partners and staff are aiming to raise over £100,000 for Alzheimer's Society in a 1,500 mile nationwide relay bike ride which sets off at the end of May and concludes in London on 9 June.

David Costley-Wood and Michael Walker, restructuring partners at KPMG, were appointed joint administrators of FirstCity Insurance Group Limited and its subsidiary company, FirstCity Partnership Limited (together "FirstCity”), on 20 May 2010 by the companies' directors.

Hospitals operated under the terms of PFI (Private Finance Initiative) are self-assessed as having better patient environments than conventionally procured hospitals. PFI hospitals are also self-assessed as being cleaner, according to new research published by KPMG in collaboration with the University College London (UCL).

17 May, 2010: Predictions that trading will remain tight in 2010 are being borne out by the latest industry sales data from the Coffer Peach Business Tracker. The 15 major pub and restaurant operators participating in the Tracker survey collectively saw April like-for-like sales ahead just 0.7% on the same month last year. Total sales were up 2.0% on April 2009.

KPMG's UK private client advisory practice was a double winner at the 2010 Citywealth Magic Circle Awards last night.

Kathryn Britten has joined KPMG as a Partner, and Chair of its rapidly growing Forensic practice. She joins from BDO where she was the national head of their Forensic Accounting and Dispute Resolution team since 2007.

Mark Orton and Allan Graham were appointed Joint Administrators of Octavian International Limited (the "Company”) on Friday 7 May 2010.

UK retail sales values fell 2.3% on a like-for-like basis from April 2009, when sales had picked up 4.6%.

566 formal insolvency procedures per day

KPMG in the UK announces that Alastair McLeish will become UK Head of Tax and Pensions with effect from 1 July 2010.

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.

Jeremy Anderson is the new Chairman of KPMG's Global Financial Services practice.

KPMG has won the Award for 'Business Strategy' for its work at Royal Bank of Scotland ('RBS'), at the Management Consultancies Association's ('MCA') Management Awards held in London last night.

Today the IASB announced a change to the way that pension costs are recorded in profits which will hit UK businesses' earnings by around £10 billion, with an impact of over £50 million per annum on the employers with the largest pension schemes, according to KPMG in the UK.

The latest quarterly CIPD/KPMG Labour Market Outlook survey of almost 800 employers signals that the UK's emergence out of recession is now leading to better job prospects. Yet it also reveals a stark difference between job prospects in the private and public sectors: while private sector employers are more optimistic about creating jobs in the second quarter of 2010, public sector employers are radically more pessimistic about employment intentions compared with three months ago.

KPMG announces the appointment of David Vallery as a Director in its Remediation Practice, which works with financial services clients to quickly and fairly resolve concerns related to customer advice, records or transactions.

KPMG is increasing its planned UK intake of graduates, school leavers and interns from 900 to over 1,000 for September 2010.

Commenting on the Society of Motor Manufacturers and Traders (SMMT) production figures, Marc Summers, Director in KPMG's Automotive Group, says:

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

Legislation requires new levels of training and encourages an assessment of recruitment, induction, training and retention policies and procedures

KPMG has expanded the economics and regulation team within its communications practice with the appointment of a new Director, Benoit Reillier.

Consumer are spending less on traditional and digital media than six months ago, but consuming more, according to the latest KPMG Media and Entertainment Barometer, published today.

 KPMG helping Trustee undertake a strategy review with the objective of reducing risk

Brian Green and Paul Flint from KPMG's Restructuring practice in Manchester have been appointed joint administrators to Bethell Rail Limited.

Cash strapped Governments around the world may consider relaxing current online gaming  rules and restrictions in order to provide a much needed boost to tax revenues according to a new KPMG report: 'Online Gaming: A Gamble or a Sure Bet?' 

 UK retail sales values rose 4.4% on a like-for-like basis from March 2009, when sales had dropped 1.2%. Good Friday and Easter Saturday falling in the March trading period this year but in April 2009 boosted the year-on-year comparison. On a total basis, sales rose 6.6% against only 0.6% growth in March 2009.

New Bribery Bill - perfect opportunity for boards to review overall risk framework

Commenting on the Society of Motor Manufacturers and Traders (SMMT) new car registration figures, John Leech, Partner in KPMG's Automotive Group, says:

Over sixty percent of company directors believe that auditors have become more cautious in the last two years, according to a survey by KPMG.  At the same time, over forty percent say that their relationship with their auditor has improved while forty percent say it has stayed the same.

Jonathan Thompson, Global Head of Real Estate at KPMG comments on the government's announcement to get better value out of its property value:

Alan Downey, UK Head of Public Sector comments on budget announcement:

Commenting on how Budget announcements will affect entrepreneurs and private equity, Anneli Collins, Head of M&A Tax at KPMG, said:

"The Budget is generally good news for entrepreneurs and private equity.  Both will be pleased to have the confirmation that there is to be no increase in the capital gains tax (CGT) rate and entrepreneurs (including the management of private equity portfolio companies) will be pleased to see the £1m increase in the life time limit for the 10% rate under the CGT enterprise relief.

The wealthy aside, there were few tax rises in today's Budget.  However, the Chancellor has confirmed the freezing of personal allowances for all.

The Joint Administrators of The Print Factory (London) 1991 Limited (TPF) are pleased to announce a sale of the remaining print manufacturing business to a team led by the former management of TPF, Andrew Parker and Mike Kingsman.   The new business will continue to operate from the premises in Northampton.

In response to the Chancellor's announcement extending HMRC's 'Time to pay' scheme, which supports companies in distress struggling to pay their tax bills, Richard Fleming, UK Head of Restructuring, commented:

Chris Morgan, head of the EU law group, at KPMG in the UK, commented:

"Charities in Europe and Scandinavia received a budget bonus today as the government announced the extension of charitable tax reliefs to certain bodies operating in these territories as a result of a European Court Ruling.

- But affordability and mortgage availability remain key problems

- Measure comes with tight restrictions

The Chancellor announced today that the IHT nil rate band will be frozen at £325,000 until 2014/15.

Government Support Paramount to Auto Future says KPMG

- UK lags Continental Europe in offshore wind manufacturing

- 'Green bank' funding will give energy industry 'small nudge' rather than 'big shove'

Budget is missed opportunity to prepare public sector for a radical programmed of large scale transformation

Paul Harrison, UK head of tax investigations, KPMG said:

"The changes announced today will provide future governments with a big stick for dealing with off-shore tax evasion.

Anneli Collins, head of tax policy, at KPMG in the UK, commented:

"It's unfortunate that today's budget contained no radical thinking as regards the taxation of corporate sector.  This is disappointing given that the Chancellor recognised that one key element in repaying the country's debt will be growth of the economy and business is, after all, the engine of that growth.

-  Bank accounts for everyone

- Agreed lending obligations to business of £94bn over the next year

- Lending complaints special commission

- FSA will speed up new licensing to encourage competition

- Calls for the G20 to implement an international systemic risk tax

£2bn capital sum proposed offers only a fraction of £400bn UK needs in infrastructure investment over the next ten years

Andrew Smith, KPMG Chief Economist, said:

The bottom line is that the crisis is thought to have permanently shrunk the economy by 5%.

Alan Downey, UK Head of Public Sector comments on the announcement that progress is being made towards the sale of assets such as the Tote, the Student Loans Portfolio and the Dartford Crossing:

  - Some encouraging measures but speed is of the essence

The Chancellor today set out a range of measures that will hit the more wealthy hard, according to KPMG.

Amanda Tickel, Telecoms KPMG Tax Partner comments:

"This Budget saw the Government introduce another new tax - this time on the owners of fixed and broadband networks, coined the 50p broadband tax.  Levying specific taxes on the Communications sector is a rising trend across Europe - France and Greece introduced specific Telecoms taxes on top of VAT in the last year.  The key difference here is that the Government is committing to ring fence the £175m per year in tax it expects to raise and use it to help fund Next Generation Access - usually taxes are collected into a general pot.

Chancellor gives with one hand and takes away with the other

David Kilshaw, partner at KPMG, commented:

"Concerns that the CGT rate would rise proved ill-founded. But the key question is whether the rate change has just been postponed.

KPMG experience shows two thirds of participating organisations risk financial penalties

Nick Chism, Head of KPMG's Global Infrastructure practice comments on the government's plans for a green technology fund:

Alan Downey, KPMG's UK Head of Public Sector comments on the need for a "strategic transformation” of the public sector in order to tackle the budget deficit:

- Retail banking should begin a slow climb to growth, assuming economic recovery

- Questions hang over the sustainability of investment banking performance

The UK eating and drinking-out market moved back into positive territory in February - or at least the country's leading restaurant and pub operators did.

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.

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

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:

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

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.

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

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

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). 

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:

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. 

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

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.

 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

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.

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:

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

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.

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.

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.

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

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).

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.

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

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.

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:

- 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

- 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:

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.

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.

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.

Scottish practice scoops Best Large Firm and Team to Watch at Scottish Accountancy Awards