Listed below are our UK press releases, providing an overview of our activities and opinions over the last 18 months. Our most recent press releases can be found at the top of the page.
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| Clubs spend record £150 million in January transfer window |
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01 February 2008 |
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Player transfer spending by Premier League clubs was around £150m in the January transfer window, more than double the amount spent in previous January transfer windows, according to analysis by the business advisory firm Deloitte. Paul Rawnsley, Director in the Sports Business Group at Deloitte, commented: “The record January figure comes as no surprise. Premier League clubs are investing some of the additional £300m broadcast revenue received in 2007/08 to strengthen their playing squads as they seek to challenge for the top spot, secure qualification for European club competitions or retain Premier League status. Whilst gross... |
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| Taking Stock: Consumer Business Security Survey |
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31 January 2008 |
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Deloitte, the business advisory firm, has today announced details of a survey looking at security in the consumer business industry. Key findings from the survey reveal 80% of companies do not have an information security strategy formally defined and 86% have never performed an inventory to understand where their data is stored and how it is transmitted.
Andy Morris, consumer business partner, comments:
“Retail companies are holding greater and greater amounts of customer data – from purchasing patterns recorded on customer... |
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| Manufacturers can lead the way in meeting UK’s climate targets |
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30 January 2008 |
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By 2020, the UK must source 15% of its energy from renewable sources and cut CO2 emissions by 16% in response to challenging targets set by the European Commission. This will create significant challenges for industry in terms of its competitiveness. However, a new report from EEF, the manufacturers’ organisation and Deloitte, the business advisory firm says that UK manufacturers are well placed to take advantage of the major commercial opportunities offered by the drive towards a low carbon economy. Martin Temple, EEF Chairman, said: “Moving to a low carbon economy will create significant business opportunities and UK industry... |
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| Three quarters of retailers report positive Christmas sales |
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30 January 2008 |
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As we reach the end of what most commentators have described as a difficult holiday season, it is interesting to look at what the retailers have reported. In fact, nearly three quarters of UK store retailers (73%) have reported positive like for like sales for the Christmas period. Analysis of 48 UK retailers’ Christmas performance by the business advisory firm Deloitte reveals like for like sales increased in all categories except home and electricals (excluding games). Average like for like sales increased by 2.8%. Online retailers were the big winners of Christmas 2007 with average sales up over 50% (52.8%). Richard Lloyd-Owen,... |
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| Deloitte expands Environmental, Health and Safety team |
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29 January 2008 |
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Deloitte, the business advisory firm, has announced today the appointment of James Holley to its Environment team as a due diligence specialist. James will advise clients on the environmental, health and safety (EHS) risks associated with merger and acquisition transactions. Charles Gooderham, head of the Environment team at Deloitte, commented: "James’ technical and legal experience enables him to advise clients on the commercial and financial implications of EHS issues. Also, his ability to work with other due diligence advisors ensures that EHS issues are fully considered as part of the valuation process. He will be a valuable team... |
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| A fundamental adjustment, not a pause for breath |
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28 January 2008 |
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In the latest issue of the Deloitte Economic Review, our Economic Adviser, Roger Bootle, considers the outlook for the UK economy over the next few years. His main points are as follows:- The UK economy is about to enter its weakest period of growth since the Exchange Rate Mechanism crisis of 15 years ago. There is a risk that the economy will slip in into a full-blown recession.
- The increasing vulnerability of the housing market is at the heart of the downturn. Admittedly, the UK economy escaped a major economic downturn in 2004/05, when the housing market experienced its first ever “soft” landing. But...
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| Deloitte response to the launch of Qtrax – a free, legal, online music download library of 25 million songs that is funded by advertising |
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25 January 2008 |
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James Bates, a director in Deloitte’s media and entertainment division said: “We will have to wait and see exactly how the market responds to Qtrax but it would appear that it has crossed the first hurdle for any new entrant into the global music download market: a large library with quality content and the support of the four major record labels. “Qtrax will face other challenges: ease of use is important – it will need to be a pleasurable and seamless experience. “Advertising will appear every time a song is played and that may prove too intrusive for many consumers. There is also a growing antipathy to online advertising... |
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| Insurers unprepared for Solvency II |
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24 January 2008 |
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UK insurers appear complacent about the introduction of Solvency II, the new capital adequacy directive for European insurers, according to Deloitte, the business advisory firm. Deloitte surveyed insurers covering both London and company markets on the expected impact of the new regulations and found that more than two-thirds (70%) do not yet have a Solvency II programme in place. A similar number (69%) of insurers feel that Solvency II is just another regulatory burden and nearly half (43%) the respondents said the cost and disruption of complying with Solvency II will outweigh any benefit that may be derived. Another 21% believe the... |
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| House of Lords upholds claims for VAT on business costs |
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23 January 2008 |
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The House of Lords has today upheld a ruling by the Court of Appeal that the UK Government’s introduction of a three year time limit on filing claims for overpaid VAT is defective without transitional provisions. The dismissal of an appeal brought by HM Revenue & Customs against VAT claims made by Condé Nast Publications Ltd (CNP) and Michael Fleming means that businesses can now claim back under-recovered VAT which they failed to file before the Government introduced a new and much shorter time limit for reclaiming overpaid VAT in late 1996. Tony McClenaghan, head of indirect tax at Deloitte, which acted for CNP, said: “Our... |
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| Deloitte analyses top trends for the telecommunications industry for 2008 |
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22 January 2008 |
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The Technology, Media and Telecommunications (TMT) practice at Deloitte today announced its predictions for the telecommunications sector for 2008, forecasting that digital communications will become more voluminous, varied, and vital to the way we live than ever before. Tony Cooper, telecommunications partner at Deloitte, comments:
“The outlook for the telecommunications sector in 2008 is varied. This year’s Predictions cover the impact of a possible economic downturn on the sector; the growing viability of a machine-to-machine market, catalyzed by the imminent arrival of the $10 mobile phone; the rise of the emerging market... |
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