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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| Retailers prepare to offer bargains as Bank Holiday weekends approach |
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02 May 2008 |
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Tarlok Teji, head of retail at Deloitte, comments on the added significance of this year's May Bank Holidays to UK retailers. "May is traditionally a good month for retail. The two Bank Holiday weekends provide additional dates when consumers can head for the high street and certain sectors, particularly DIY, Homeware and Gardening tend to fare well. However, UK retailers have cause to be slightly nervous as we head into the first of the Holiday weekends.” The economic outlook is uncertain and a number of pressures are exerting themselves on consumers spending power. Food prices have been increasing for the last 12 months or... |
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| Developing a high performance culture within T-mobile earns Deloitte a MCA Management Award |
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02 May 2008 |
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Deloitte, the business advisory firm, has won the top award in the human resources category at the 2008 Management Consultancies Association (MCA) Management Awards for its work in helping T-Mobile build a high performance leadership team, and culture. Deloitte was also a finalist in the innovation category for an extensive project undertaken for Cornwall County Council to transform and radically improve the services it provides to children. David Owen, head of consulting at Deloitte said: “We’re very proud of the results we achieved on these projects and grateful to the hard work of all of our staff to ensure they were successful.... |
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| Championship clubs chase £60 million prize |
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02 May 2008 |
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The Football League Championship Play-Off Final on 24 May will again represent the biggest financial prize in world football, worth around £60m. Given there are eight Championship clubs (in addition to West Bromwich Albion) still chasing promotion, the final fixtures on Sunday promise drama and tension on the pitch, on the terraces and in the boardroom. Paul Rawnsley, Director of the Sports Business Group at Deloitte, commented: “The financial prize for promotion to the Premier League will provide each promoted club with at least £35m of additional revenue in 2008/09. In addition, even if a club is relegated after one year at the top... |
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| Deloitte voted Professional Services Firm of the Year by BVCA and Real Deals Private Equity Awards 2008 |
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01 May 2008 |
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Deloitte, the business advisory firm, has been voted ‘Professional Services Firm of the Year’ by the British Venture Capital Association (BVCA) and Real Deals Private Equity Awards. Deloitte was voted for this prestigious award by peers in the industry, which noted Deloitte’s growth record, innovative service offering and the quality of its deal record. Timothy Mahapatra, Head of UK Transaction Services at Deloitte, commented: “In Europe we have enjoyed sustained private equity growth, both in revenue and resource, averaging 40% per annum over the past 4 years. Revenue from our largest 10 clients has grown... |
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| Sound Control Group appoints adminstrators |
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30 April 2008 |
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John Reid and Bill Dawson of Deloitte, the business advisory firm, have been appointed Administrators of Sound Control Holdings Limited (“Holdings”) and certain of its subsidiaries (“the Group”) following applications to the courts by the Group’s Directors. The Group operates from 26 stores across the UK, under the brand names Sound Control, Media Tools, Turnkey and Soho Sound House, and is the largest musical instrument retailer in the UK. It has a turnover of £50m and 338 employees nationwide. The Group has been impacted by increased competition from the internet and the directors had been pursuing a strategy to sell the... |
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| Deloitte analysis of long-term care markets |
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29 April 2008 |
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- Findings contrast with expectation that care provision for older people is a public service
- Long term care now almost entirely provided through private and third sector suppliers and increasingly funded through private means
Deloitte is today publishing an analysis, undertaken for the Resolution Foundation (1), of England’s long term care markets. Mapping Care of Older People makes the case for defining long-term care in England as a ‘mixed market’ (made up of a combination of public and private funding and supply) and not solely a public service (2) . Mapping Care of Older... |
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| One month to go until launch of Faster Payments |
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28 April 2008 |
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There is less than one month to go (27th May) until banks start offering Faster Payments (FP), allowing customers to make near real-time payments 24 hours a day 365 days a year. The Faster Payments scheme, which includes standing orders, is the banking industry’s response to Government concern that the UK did not have a low cost, quick and efficient electronic payment mechanism. This is a big step forward and will be welcomed by the consumer, yet presents a combination of opportunities, challenges and risks for the banks. Ian Foottit, payments strategy director at Deloitte, said: “On the plus side, Faster Payments... |
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| Cut-price UK assets to attract increased foreign interest |
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28 April 2008 |
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Recent analysis by Deloitte, the business advisory firm, has shown that the weakened pound looks set to increase the appeal of UK M&A and investment from overseas investors. Andrew Curwen, Head of European M&A at Deloitte, commented: “With the UK’s open door policy, international interest in UK deals has been steadily growing. Ten years ago, little more than 20% of acquisitions of UK companies involved foreign acquirers but by 2007 this had increased to almost 30%. We have seen the weakened dollar increase the attractiveness of the US for foreign investors and expect the same effect in the UK as the euro / pound rate hovers around... |
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| Fundraising dries up on AIM |
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24 April 2008 |
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Quarterly analysis of the AIM market by Deloitte, the business advisory firm, has shown that the market has hit the lowest level of activity in three years. John Hammond, capital markets partner at Deloitte, commented: “The worst of the downturn was expected to hit AIM in the second half of 2007, but a flow of IPOs in the pipeline kept the overall numbers afloat. Figures for 2008 show, however, that the trickle has dried up with a 60% drop in new fundraising. Indeed January was the lowest month since 2004. The slump in activity on AIM demonstrates just how sensitive alternative investments are to an economic downturn. The AIM index... |
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| Deloitte comments on the FSA’s report on Data Security in Financial Services |
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24 April 2008 |
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Mike Maddison, UK Head of Security and Privacy services at Deloitte commented:
"We welcome this report. Following the significant number of well-publicised security breaches over the past year, both the Financial Services Authority and Information Commissioner’s Office have clearly increased their focus on the protection of consumers’ personal data. They expect this to be a board level issue and ignorance is no excuse.
"The Financial Services industry has for some time sought clearer guidance on regulators’ expectations for the protection of consumers’ personal data. The report addresses this by providing concrete... |
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