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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| 3G firms dealt major blow in £3 billion VAT claim |
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07 September 2006 |
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Mobile phone operators, including Hutchison 3G, Orange 3G, mmO2, T-Mobile and Vodafone, have been dealt a major blow in their bid to reclaim £3 billion in VAT paid on the purchase of licences to run high speed mobile phone services - known as third-generation or 3G licenses. In a case going through the European Court of Justice (ECJ), the Advocate General has today issued an opinion stating that although the transactions (which earned the UK Government £23 billion) were ‘economic activities’, they were outside the scope of VAT because the activity concerned the issue of the licences by a “public... |
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| Summer transfer window spending hits record level |
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01 September 2006 |
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Spending by English clubs of over £300m this summer is the highest since the introduction of the current system of transfer windows according to analysis by Deloitte. Paul Rawnsley, Director in the Sports Business Group at Deloitte, commented: “Renewed financial confidence from the TV deals announced earlier this summer and the World Cup shop window effect have helped fuel the increase in transfer spending by Premiership clubs. Overall the Premiership clubs have spent over £330m in 2006, including over £260m this summer, which is up on spending in each of the previous years since the transfer windows were... |
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| Steep drop in membership of Health Clubs |
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25 August 2006 |
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UK fitness clubs had 53,500 fewer members in June 2006 compared to the previous year as the impact of rising interest rates and falling consumer confidence begins to take hold, according to the HealthClubBenchmark Survey by Deloitte. Latest data shows the number of people joining health clubs has fallen on average 8% for January to June versus the same period last year. Monthly membership subscriptions at a UK health club average £39.05 according to the survey and encouragingly these have increased 3.5% over the past 12 months. However, the fall in members has meant total revenue from subscriptions has improved on average by... |
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| Consultants climb Africa’s highest peak and watch fundraising soar |
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16 August 2006 |
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In July a 39-strong Deloitte team embarked on a climb of Africa’s highest peak Mount Kilimanjaro in Tanzania to raise money for charity. The team of consulting professionals from across the UK succeeded in raising £128,000, in a single charity fundraising event after covering their costs. This is the largest amount of money ever raised by the consulting practice for their charity partners, the British Heart Foundation and Leukaemia Research. On the mammoth trek up and the world’s tallest freestanding mountain, 39 consulting staff took the Marangu route to the summit, a five day climb which passed through... |
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| Hotel occupancy and rates rises as London airports face security delays |
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15 August 2006 |
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Following the recent security alerts at UK airports hotel operators, particularly those in the vicinity of Heathrow and Gatwick airports, have seen occupancy and rates rise as large numbers of passengers seek short-term accommodation. A review of hotel performance based on the HotelBenchmark Survey by Deloitte shows that hotel occupancy in the Heathrow and Gatwick area since Thursday has risen dramatically in the five days since the threat was uncovered. At Heathrow, occupancy jumped to 92.4% from 83.9% the week before. At Gatwick the corresponding figures were 84.6% and 79.4%. Room rate has risen significantly up to... |
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| Pimpernel International Limited (In Administration) |
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11 August 2006 |
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Ian Brown and John Reid of Deloitte were appointed as administrators of Pimpernel International Limited on 3 August and 9 August respectively due to cash flow difficulties following the re-sourcing of production in China.
Pimpernel, which is based in Consett, County Durham, produces a range of high quality tableware, place mats and associated accessories, under the Pimpernel and Cloverleaf brands, as well as producing own label products for department stores and other customers. The Company has a subsidiary in the US, Pimpernel International Inc., a sourcing office in Hong Kong and has recently completed a custom built manufacturing... |
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| Deloitte reports strong growth |
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08 August 2006 |
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Deloitte in the UK reported further strong growth for the year ended 31 May 2006. Revenues grew by 15.0% to £1559m and total profits available for allocation to partners and to cover retired partner annuities grew by 8.7% to £489.2m. John Connolly, Deloitte’s Senior Partner and Chief Executive commented: Revenues “Each of our four divisions performed well in an environment which remained reasonably buoyant and where our decision to continue investing in increased professional headcount and our unrelenting emphasis on quality was rewarded. “Our unique range of skills in depth across... |
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| Deloitte launches Technology Fast 50 Awards: Call for entries |
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07 August 2006 |
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Deloitte, the business advisory firm, today launches this year’s Technology Fast 50 Awards, an objective ranking and celebration of the UK’s fastest-growing technology companies. The programme, in its ninth year, showcases technology companies that have achieved high revenue growth over a five year period. The ranking features both private and public listed technology companies that have demonstrated innovative strategies, sound management practices and marketplace vision driving them to achieve the status of high-growth leaders. Details of how to enter the award can be found at |
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| DTI Insolvency Statistics Q2 2006 |
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04 August 2006 |
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Corporate insolvency: Retailing gloom just an illusion
Personal bankruptcy: ‘IVA boutiques’ peddle their wares
Lee Manning, Reorganisation Services Partner at Deloitte, responds to the DTI’s quarter two insolvency statistics, announced today:
Retailing: big brand insolvencies create a gloomy illusion
“While the retail insolvency figures are up 13% on last year, in absolute terms the retail outlook is stable. Only 251 retailers out of a total population of over 200,000 retailers went bust: a relative drop in the ocean. Whilst a few big name retail insolvencies in the past year, like... |
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| Not the start of a series of hikes |
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03 August 2006 |
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Today’s surprise decision by the Monetary Policy Committee to raise interest rates from 4.50% to 4.75% is unlikely to mark the start of a series of rate hikes and probably represents a one-off move that might be reversed as early as next year. The August Inflation Report, which is to be released next Wednesday, is likely to say that the Committee remains ready to raise interest rates again should economic growth accelerate further, inflation rise higher or the housing market continue to strengthen. However, I think that is it more likely the economic data will...
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