Corporate Finance Accounting

  • Two of them were based in London. In the document, prosecutors name Luis Alvarez and Richard Cameron, respectively former chief executive and former chief financial officer of BT Global Services- one of the biggest divisions of BT Group- and Corrado Sciolla, formerly BT's head of continental Europe, among an expanded list of 23 suspects. Alvarez and Cameron were...

  • LONDON, Feb 5- British online supermarket and technology group Ocado said its pursuit of more partnership deals would hit short term profits as it reported a 21 percent fall in full-year earnings, held back by investment and new accounting standards. Though Ocado has a 1 percent share of Britain's grocery market its 6.9 billion pound stock market valuation has...

  • LONDON, Feb 1- British broadband provider TalkTalk said attracting more customers and changing its accounting standard would cost it up to 15 million pounds this financial year, resulting in earnings falling short of analysts' expectations. The company said underlying earnings would be in the range 245 million to 250 million pounds, below an analysts'...

  • LONDON, Jan 31- Some of London's biggest hedge funds are betting on even tougher times ahead for Britain's Metro Bank even after the embattled lender halved in value following an accounting error. City grandee Crispin Odey and hedge fund Marshall Wace have the biggest short positions against the bank, data from Britain's Financial Conduct Authority showed,...

  • LONDON, Jan 31- A senior British lawmaker leading a review of the world's top accounting firms said on Thursday there is cross-party consensus for change, calling the approach of the "Big Four" complacent. Business minister Greg Clark was supportive and Andrew Tyrie, a former lawmaker behind banking reforms who now chairs the CMA, also wants to push through change,...

  • Jan 23- Vertex Pharmaceuticals Inc said on Wednesday it had terminated the employment of its chief operating officer and interim chief financial officer, Ian Smith, citing "personal behavior" that violated its code of conduct. Paul Silva, the company's corporate controller and chief accounting officer since 2008, has been appointed interim CFO, while the...

  • Xero is a company that offers accounting software to small businesses that can make cash management more effective, according to the start-up's CEO Steve Vamos.

  • SANTIAGO, Jan 15- Chile's nuclear watchdog CCHEN is considering an investigation into potential fraud after an audit found that the agency for decades failed to properly record exports of the ultralight battery metal, documents obtained by Reuters show. The internal review found "significant errors" in CCHEN's accounting of the sales of the world's top...

  • Dec 18- U.S. package delivery company FedEx Corp on Tuesday lowered its 2019 forecast, citing weakness in Europe and signs that global trade is faltering, sending its shares down 5.1 percent in after-hours trade. Memphis- based FedEx cut its fiscal 2019 earnings forecast to $15.50 to $16.60 per share, before year-end mark-to-market retirement plan accounting...

  • Dec 18- U.S. package delivery company FedEx Corp lowered its 2019 forecast, citing weakness in Europe, sending shares down 4.6 percent in after-market trading. Memphis- based FedEx cut its fiscal 2019 earnings forecast to $15.50 to $16.60 per share, before year-end mark-to-market retirement plan accounting adjustments and excluding TNT express integration...

  • LONDON, Dec 18- Britain's "Big Four" accounting firms face a radical shake-up from proposals to reduce their hold on the market for auditing companies' books, which would also force them to separate their audit and advisory businesses. The plans, published on Tuesday in two government-requested reports, mark the most ambitious attempt yet to reform the...

  • LONDON, Dec 18- Britain needs a new watchdog to shake up the country's "Big Four" accounting firms and reduce their dominance of the market for auditing companies' books, two government-requested reports said on Tuesday. The reports' proposals mark the most radical attempt yet to reform a sector in which the Big Four firms- EY, Deloitte, KPMG and PwC- check the accounts...

  • LONDON, Dec 18- Britain needs a new watchdog to shake up the country's "Big Four" accounting firms and reduce their dominance of the market for auditing companies' books, two government-requested reports said on Tuesday. The reports' proposals mark the most radical attempt yet to reform a sector in which the Big Four firms- EY, Deloitte, KPMG and PwC- check the accounts...

  • JOHANNESBURG, Dec 6- A probe into accounting irregularities at Steinhoff International and the release of the retailer's restated results have been delayed, it said on Thursday, sending its shares down as much as 21 percent. The company, engulfed in one of South Africa's biggest corporate scandals, said it had been forced to abandon plans to publish both its 2017...

  • *Has been critical of Christians and Muslims in India. NEW DELHI, Nov 30- To his supporters, new Reserve Bank of India board member Swaminathan Gurumurthy is a philosopher who will set India on a path of self-reliance. A chartered accountant and commentator who has long had the ear of leaders of the ruling Bharatiya Janata Party, Gurumurthy is a leading figure in the...

  • JOHANNESBURG, Nov 23- KPMG South Africa has reported a former partner to the police over his alleged role in a corruption scandal in which almost 2 billion rand was stolen from VBS bank, two KPMG employees familiar with the matter said. The KPMG employees said the accounting firm had sent an internal email to staff on Friday that said its board had "assessed...

  • SINGAPORE AUTHORITIES SAY ALSO PROBING POTENTIAL NON-COMPLIANCE WITH ACCOUNTING STANDARDS BY NOBLE GROUP'S WHOLLY-OWNED SUBSIDIARY, NOBLE RESOURCES INTERNATIONAL.

  • DUBAI, Nov 14- Oman's securities regulator said on Wednesday it has suspended audit firm KPMG from doing new work for a year after finding major financial and accounting irregularities at some listed companies. The Capital Market Authority took corrective steps at those companies to protect investors, it said in a statement without naming the firms or giving...

  • *Appointment follows Tesla's settlement with SEC. Nov 8- Tesla Inc has ended weeks of speculation by promoting one of the electric carmaker's independent directors, Australian accountant Robyn Denholm, to replace Elon Musk as chairman. The change in structure at the Silicon Valley firm, agreed to by Musk in a September court settlement with regulators, is...

  • LONDON, Nov 8- KPMG will phase out advisory work for its British accounting clients, marking a first for the "Big Four" firms trying to head off a possible break-up. The Big Four check the books of nearly all of Britain's top 350 listed companies, while at the same time earning millions of pounds in fees for non-audit work. Bill Michael, head of KPMG in Britain, told...