Deloitte's Global Press Releases page contains links to news and information about the firm's activities around the world. Press releases in this area of the site date back approximately 18 months, with the most recent appearing at the top of the page.
For press releases at the country level, please select the relevant national practice from the Global Site Selector at the top of this page, then proceed to the appropriate press or news-related area of the site.
New York – Jim Quigley, CEO Deloitte Touche Tohmatsu, today commended the U.S. Securities and Exchange Commission (SEC) for taking the next step toward the adoption of International Financial Reporting Standards (IFRS) within the U.S., and the ultimate development and adoption of a single set of globally accepted, high-quality financial reporting standards.
"The decision by the SEC to provide a comment period on a road map for the eventual adoption of IFRS by U.S. companies is essential to ensuring an orderly transition to a global system of financial reporting. An appropriate roadmap has been a critical enabler for...
Deloitte study: Global hotel performance remains in positive territory despite economic uncertainties
The global hotel market got off to a good start in 2008, driven by strong average room rate growth. Analysis by Deloitte Touche Tohmatsu shows that for the...
Hotels in Asia Pacific continued their good fortune during the first six months of 2008, with revenue per available room (revPAR) up 13.2%, outperforming the 12% growth achieved in 2007. Analysis by Deloitte, the business advisory firm, shows that revPAR broke the US$100 milestone to reach US$103. Improvements were driven by double-digit increases in average room rates, which now stand at US$151.
Three of the four sub-regions - South-East Asia, South Asia and Oceania – all reported double-digit revPAR growth. Average room rates continue to drive performance while occupancy either grew marginally or declined. North-East Asia followed...
New York – Deloitte Touche Tohmatsu ("Deloitte") today announced that fiscal year 2008 aggregate member firm revenue increased by 18.6 percent in U.S. dollars, and 13.0 percent in local currencies, to US$27.4 billion. This marks Deloitte’s sixth consecutive year of U.S. dollar double-digit revenue growth from continuing operations. Every service line and every geographic region delivered strong growth. Deloitte aggregate revenues were US$23.1 billion in FY2007.
When announcing the results, Deloitte Global CEO Jim Quigley said, "Our people's continued focus on excellence and their demonstrated ability to work together across...
Analysts at Deloitte, the business advisory firm, have observed a slow down in UK hotel performance in the first half of 2008. Since January, revenue per available room (revPAR) increased by 3.5%, over three percentage points lower than the 6.7% achieved in 2007, reflecting the economic downturn and a drop in consumer confidence.
However, while occupancy levels have seen marginal declines, growth in average room rates is pushing revPAR growth into positive territory. Regional UK results saw occupancy fall 1.4%, while average room rates increased 1.8% to £71 resulting in revPAR growth of 0.4%. Meanwhile, occupancy in London remained...
New York – Charles Heeter, Managing Principal, Global Public Policy, Deloitte Touche Tohmatsu, has been re-elected to a two-year term as Chairman of the Business and Industry Advisory Committee (BIAC) executive board by the BIAC general assembly.
BIAC advises the working committees of the 30 member governments of the Organization for Economic Cooperation and Development (OECD), aiming to bring a business perspective to their deliberations. Last year, more than 2,300...
New York – Forty-eight percent of public officials around the world believe that their organizations lack adequate financial management capabilities, according to a new Deloitte study, "Mastering Finance in Government: Transforming the Government Enterprise through Better Financial Management," one of the largest global surveys ever conducted of government finance officials. Despite progress in streamlining transactional efficiency over the past decade, significant financial management constraints continue to face governments around the world.
London, June 16, 2008 – Year-to-April results from the STR Global HotelBenchmark™ Survey show that European hotels got off to a slow start in 2008, with revenue per available room (revPAR) up only 1.1% to €68. Analysis by Deloitte, the business advisory firm, shows that even though hotel performance in general is static there are still several success stories across the continent.
Hotels in Russia continue to perform well, with Moscow achieving some of the highest revPAR results in Europe at US$255, despite limited occupancy growth. In U.S. currency this amounted to revPAR growth of 28.1%. St. Petersburg saw strong growth during the...
New York – Deloitte Touche Tohmatsu commends the European Commission (EC) for its intensive consideration of the complex issue of limiting civil liability for statutory auditors and audit firms. According to the Commission’s statement, the recommendation aims to encourage new entrants into the audit market and to protect European capital markets by ensuring that audit firms remain viable in an environment where there is an increasing trend towards litigation and a lack of sufficient insurance cover in the sector.
This recommendation also proposes principles to be followed by member states when adopting the recommendation, including...
New York, June 6, 2008 – Many Deloitte Touche Tohmatsu member firms kicked off their annual day of community service today. IMPACT Day, when member firms around the world designate a day of service in their communities where they live and work, is an annual celebration of volunteerism and commitment to community involvement.
“IMPACT Day is an opportunity for tens of thousands of our Deloitte people to step away from conference calls and emails for one day, and contribute their time and professional skills to a variety of causes that help develop local communities,” explains Deloitte Global CEO Jim...
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