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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| Credit crunch brings private equity record year to a halt |
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05 October 2007 |
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Statistics from CMBOR, the pre-eminent provider of analysis on the UK buy-out market founded by Barclays Private Equity and Deloitte, confirm that 2007 is a record year for UK buyouts at a remarkable £38.5 billion for the first nine months, which is already 45% higher than the whole of 2006 (£26.5 billion). Quarter three deals of £14.9 billion is the second highest quarter on record surpassed only by the £19.7 billion in quarter two, no other quarter on record has exceeded £10 billion. Yet as the market commences the final quarter, it looks like this record year for buyouts might be remembered for very different reasons. The... |
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| A pre-election splash? |
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05 October 2007 |
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- Make no bones about it, this year’s Pre-Budget Report (PBR) will have one aim and one aim only – to ensure that Gordon Brown wins a general election. We expect some fairly large tax cuts purely intended to grab the headlines and shoot the Conservatives’ fox. But, in order to head off accusations of fiscal recklessness, these will be funded mostly by low-profile tax rises elsewhere.
- The PBR will include measures unashamedly aimed at taking the wind out of the Conservatives’ sails. It is possible that the Chancellor, Alistair Darling, will match exactly the Conservatives’ pledge to cut...
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| MPC will not rush into rate cuts |
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04 October 2007 |
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Today’s decision by the Monetary Policy Committee to leave interest rates on hold at 5.75% shows that the Committee is in no rush to reduce interest rates. While I would not altogether rule out an interest rate cut at next month’s meeting, it seems likely that lingering inflation concerns will mean that interest rates do not start to fall until early next year. The longer the financial market turmoil has continued, the clearer it has become that it will have some impact on the wider economy. The high level of interbank interest rates has made it more expensive for companies and...
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| Arts & Business launches online tax guide to encourage efficient giving to the arts |
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04 October 2007 |
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Arts & Business, the national charity dedicated to increasing private investment into the arts has today launched an online tax guide, explaining how to give efficiently and effectively to the arts. The online tax guide, at www.aandb.org.uk/taxguide, is for arts fundraisers, donors and wealth managers. A&B’s guide includes simple information demonstrating that, contrary to popular belief, it has never been easier to give to the arts and the tax benefits have never been greater. A&B’s tax guide, created in partnership with Deloitte, DCMS and Her Majesty’s... |
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| Motor insurance premiums rise 10% |
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03 October 2007 |
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The cost of third party motor insurance has gone up by 10% in the past 12 months, according to Deloitte’s Quarterly Motor Insurance report. The report shows the average cost of non-comprehensive (third party) motor insurance in August was £519 an increase from £473 at the same time last year. Comprehensive insurance was shown to have increased 4% to £458, up from £441 in August 2006. The data comes despite suggestions that internet comparison sites are driving down rates. While Deloitte found that more than half of new business is now from the internet and that comparison sites are taking an increasing share of internet sales, most... |
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| Deloitte’s first intake of Chinese Graduates arrives |
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02 October 2007 |
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The first intake of Chinese graduates have arrived at Deloitte in the UK, as part of an innovative recruitment campaign that was launched to recruit 20 graduates a year, a joint programme between Deloitte in the UK and China.
The Chinese graduates will receive the same training and salary as other graduate joiners, a paid trip home each year and will complete the ACA qualification. They will be working in audit, corporate tax and technology assurance and advisory.
After four years in the UK, they will have the option of returning to work for Deloitte in China.
Commenting on the programme,... |
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| Deloitte receive special award in Top 50 places women want to work |
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02 October 2007 |
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For the second consecutive year, Deloitte has been ranked as one of the Top 50 organisations Where Women Want to Work. The prestigious award by The Times and Aurora saw entries from hundreds of the UK’s leading companies. The top 50 list comprises those organisations the judges consider have created a great place for women to work. At an awards ceremony in London, Deloitte were also presented with one of only six special awards. Deloitte won the ‘connectivity’ category for the initiatives the firm has introduced to allow employees to stay linked into the organisation. They were the only professional services firm to receive... |
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| Deloitte response to Radiohead giving away their new album |
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01 October 2007 |
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James Bates a director in the Media and Entertainment division at Deloitte said “There are two possible motives that would explain the move by Radiohead to let their fans pay as much or as little as they like for their latest album. While they have enough money and popularity it could be argued that they care deeply about the creative process and this move maybe genuinely altruistic in support of their fan base. Or perhaps they expect this model will drive revenues through the sale of ancillary goods and ultimately there would be no loss in overall revenues. Whichever it is, it would appear that for Radiohead the record company model... |
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| Pension schemes gain despite market turmoil |
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27 September 2007 |
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Despite the recent turmoil in global markets, the total surplus in the pension schemes of the FTSE 100 companies has now increased to £22 billion. Pension schemes invest a significant proportion of their funds in equities and other risky investments to grow the assets faster than their liabilities in the long term. Despite the recent turbulence in markets linked to “sub-prime” mortgages and loans, the return on the UK equity market has been around 5% since the start of the year. David Robbins, a Pensions partner at Deloitte, comments: “The majority of pension schemes have little direct exposure to sub-prime loans and... |
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| STR Global to provide the definitive global lodging data benchmarks |
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27 September 2007 |
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Smith Travel Research (STR) and Deloitte have signed a letter of intent to combine their Non-North American hotel benchmarking businesses. The new entity will be known as STR Global (STRG) and, under the terms of the letter of intent, it will unite STR’s operations with Deloitte’s HotelBenchmark business to provide unprecedented and enhanced coverage of global lodging markets. Randy Smith, owner and founder of STR, and Alex Kyriakidis, Deloitte’s managing partner for real estate hospitality and leisure, announced their intentions to their global customer and client base. “As our customers look globally for new opportunities, STRG... |
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