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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| Rates likely to fall early next year |
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10 November 2005 |
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The decision by the Monetary Policy Committee to leave interest rates on hold at 4.5% in November, which just a month ago looked like the most likely time for the next rate cut, does not mean that interest rates have already hit a trough. I think that the next cut will come soon after the New Year, with interest rates ending 2006 at just 3.5%. The future path of interest rates depends crucially on whether the rise in inflation over the last year feeds through into “second round” effects, such as higher wages growth and inflation expectations. The Committee is quite right to be concerned...
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| Digital convergence: the trillion dollar challenge |
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09 November 2005 |
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Deloitte, the business advisory firm, has today forecast that convergence will have a substantial financial impact on the technology, media and telecoms (TMT) sector, generating over a trillion dollars in revenues between now and the end of the decade. Details of this are revealed in a report launched today.
Jolyon Barker, head of technology, media and telecoms at Deloitte, comments: “The first wave of convergence in the 1990s didn’t deliver, due to distraction with what technology could deliver tomorrow, at the expense of understanding or respecting what customers actually want today. However there are clear indications that... |
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| Racecourse revenue breaks £250 million barrier fuelled by booming attendances |
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08 November 2005 |
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Latest research by the Sports Business Group at Deloitte has shown that racing’s record, modern era attendances have fuelled revenue to over £250 million in 2004. Deloitte predicts that the ongoing success horseracing is enjoying will push revenue beyond £300 million in 2008 as the benefits from racecourse development investments come through. Alan Switzer, Consultant in the Sports Business Group, commented: “Horseracing’s recent significant attendance growth has cemented its position as the UK’s clear second best-attended sport after football. Racing’s six million attendance in 2004... |
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| Deloitte launches Academy for UK plc Directors |
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08 November 2005 |
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An Academy for UK public company board directors has been launched by Deloitte today. The Academy, which is a response to the increasing demands on directors of UK public companies, will provide access to a comprehensive programme of technical training, support and guidance across a wide range of management and governance issues relevant to business leaders. The Deloitte Academy provides a curriculum which is customised to the specific needs of directors based on their role and company profile, delivered in a dedicated purpose-built facility. Martin Eadon, Deloitte’s Chief Operating Officer, commenting on the... |
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| Can a healthy corporate sector offset the consumer slowdown? |
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06 November 2005 |
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In the latest issue of the Deloitte Economic Review, our Economic Adviser, Roger Bootle, looks at whether companies are ready to take over as the economy’s next big spenders, now that consumers and the government are no longer able to bear the burden of driving economic growth. His main points are as follows:The corporate sector will not be able to offset the continued weakness of the consumer sector for four main reasons. History is not supportive - the corporate sector has never provided much of an offset to a weaker...
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| Deloitte response to company law reform bill |
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04 November 2005 |
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Deloitte, the Business advisory firm, welcomes the Company Law Reform Bill put before parliament today as a move to enhance the competitiveness of the UK. Commenting on the Bill, Martyn Jones, Deloitte audit partner said: “We particularly support the Bill’s deregulatory measures and moves to create a more modern business environment that fosters entrepreneurship. The UK economy will be enhanced if Britain becomes a more attractive place to incorporate.
“By including a reform power to update and amend company law faster, but with rigorous consultation and Parliamentary scrutiny, we can expect greater flexibility in... |
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| Deloitte boosts International Social Security team |
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01 November 2005 |
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Deloitte, the business advisory firm, has today announced plans to expand its International Social Security team.
Robert Hodkinson, tax partner at Deloitte, comments: “The expansion of the EU in May last year and the continued growth in the number of internationally mobile employees has led to an increased demand from businesses seeking advice on managing the compliance obligations businesses have with these employees.
“To reflect increased demand in this area, we have appointed the head of the International Section at Longbenton, Roy Toogood. Roy is an extremely well respected and high profile figure in... |
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| Deloitte sells Prophet™ actuarial software |
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25 October 2005 |
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Deloitte (Deloitte & Touche LLP UK) has today announced the sale of the Prophet™ system to SunGard. Prophet™ is an integrated suite of actuarial systems providing a range of advanced facilities for profit testing, valuation and model office work. It is used by over 500 insurance companies worldwide.
Commenting on the sale Jan Kamieniecki, head of Deloitte’s actuarial and insurance practice said: “"We are very pleased to have found a good home for Prophet in SunGard and are confident that they will continue to enhance the solution and meet the growing needs of its global client base. This transaction, whilst primarily driven by... |
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| Companies are still not making the risk disclosures, soon to become mandatory in the OFR - Deloitte survey finds |
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24 October 2005 |
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A study by Deloitte of 100 listed companies has found that less than half (45%) are currently disclosing the principal risks facing the business, even though this will become a mandatory requirement in the next reporting period. All UK quoted companies must include an Operating and Financial Review (OFR) in their annual reports for periods beginning on or after 1 April 2005, requiring a raft of new information and disclosures.
In its analysis of the most recent annual reports of 100 listed companies Deloitte found wide... |
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| Acordis UK Limited sold |
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24 October 2005 |
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The Joint Administrators of Acordis UK Limited are pleased to confirm the sale of the business, namely the carbon fibre production facility and the power station owned by the company to The Humber Group of companies. The sale was completed on Monday 24 October 2005 and will secure on-going employment for all of the remaining workforce. Ian Brown, Joint Administrator said, “Negotiations for this extremely complex sale have been protracted and completion was only achieved due to the considerable efforts of the Deloitte team and all parties. This is without doubt the best outcome for the remaining 235 employees, suppliers and customers... |
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