City watchdog fines ex-Carillion finance chiefs for market manipulation January 7, 2026 The City watchdog has fined the former finance directors of collapsed construction firm Carillion for their role in making “misleading” statements from the company. The Financial Conduct Authority (FCA) said both Richard Adam and Zafar Khan were aware of “serious financial troubles” in Carillion’s UK business but failed to reflect this in company announcements. Adam [...]
KPMG spin-out Interpath Advisory makes third loss in four years as sale revealed January 5, 2026 KPMG’s former UK restructuring division, Interpath Advisory, has fallen to its third loss since breaking away from the Big Four firm in 2021, it has been revealed. The business has reported a pre-tax loss of £11m for the 12 months to 28 March, 2025, new accounts filed with Companies House show. That comes after Interpath [...]
HSBC taps KPMG veteran Brendan Nelson to chair banking giant December 3, 2025 Europe’s biggest lender, HSBC, has named a new chair following its tumultuous recruitment programme after the departure of Sir Mark Tucker. HSBC tapped KPMG veteran Brendan Nelson, who has also served on the boards of BP and Royal Bank of Scotland, as its new chair. Nelson joined the banking giant’s board in 2023 and has served [...]
UK economy set to cool as weak consumer confidence damages spending December 1, 2025 The UK economy is expected to cool in 2026, as the softening labour market and subdued consumer confidence caused a drop in household spending. The economy is set to slow 1.0 per cent next year, down from 1.4 per cent in 2025, according to the latest economic outlook from professional services firm KPMG. Meanwhile, unemployment [...]
Retailers hit by subdued October as Budget threat looms November 11, 2025 UK retailers suffered a “subdued” October as Brits tightened their pockets ahead of what is expected to be a tax-heavy Autumn Budget. Retail sales increased 1.6 per cent year-on-year but remained below the 12-month average of 2.1 per cent, marking the weakest growth since May. The new data from the British Retail Consortium (BRC) and [...]
Challenger banks face ‘profitability trap’ at growth crossroads September 8, 2025 The UK banking sector faces a profitability roadblock that will give the industry’s challengers an “existential” turning point. Fresh data from KPMG suggests the industry’s average return on equity will fall to eight per cent come 2027 down from 13 per cent four years prior. This is set to spark an £11bn reduction in pre-tax [...]
London hiring slumps as employers suffer from rising costs September 8, 2025 London hiring has continued its steep decline as employers suffer the consequences of Reeves’ tax raid and rising costs. The latest jobs report from KPMG and the REC showed demand for workers in the capital has “continued to deteriorate” with both permanent placements and temp billings slumping further. Permanent staff places, hires with no fixed [...]
Tax: What should Reeves do in the Autumn Budget? August 27, 2025 As rumours swirl about which taxes Rachel Reeves may target this autumn, Tim Sarson lays out what the Chancellor can (and should) do.
London businesses optimistic for future economic growth, KPMG says August 18, 2025 The vast majority of private business owners in London have recorded rocketing optimism about their growth prospects, but concerns surrounding the impact of inflation remain, according to the latest KPMG private enterprise barometer survey. Following a challenging first financial half of the year, with businesses hit with tariff turmoil and ongoing geopolitical tensions, confidence in [...]
The five fintech segments to watch August 18, 2025 Global fintech funding slumped to its worst half-year in five years in the first six months of 2025. Investment reached $44bn (£32.47bn), falling from $54.2bn the year prior, whilst the number of deals fell from 2,376 to 2,216. Weak investment in the three months to June 31 2025, hurt the headline figures, with just $18.7bn [...]