News Tag: report
March 19, 2010
The National Audit Office (NAO) has warned the student loans and grants system is at "substantial" risk of being hit by delays again in 2010.
Last year, almost a quarter of a million students were left without cash prior to the start of term, as a new system resulted in delays.
The student loans system plunged into crisis after the Student ...
Student Loans Company provided “unacceptable” service, say NAO
by Kay Murchie
March 17, 2010
A report has found benefit claimants owe a staggering £1.85 billion in overpayments but less than £300 million a year is being recouped.
As a result, the public accounts committee is calling for the Department for Work and Pensions (DWP) to step up its efforts to recovery the monies.
According to the report, over 30,000 people owe around £10,000, while ...
DWP urged to improve efforts to recover benefit overpayments
by Kay Murchie
Mortgage fraud threat as economy recovers
by Gill Montia
March 16, 2010
A report due to be released later this week by the European Commission is expected reveal the Government’s plans for reducing the budget deficit are not ambitious enough.
A draft document, which has been seen by the Reuters news agency, warns Britain is not on target to trim its deficit in accordance with EU rules of below ...
EU report calls for more action in reducing UK budget deficit
by Kay Murchie
March 15, 2010
Moody's Investors Services has today announced the credit ratings of the world’s four largest AAA-rated nations are viewed as safe.
According to Moody’s, the world's four largest AAA-rated sovereign nations, which include Germany, France, the UK and the US are currently "well positioned despite their stretched finances".
In its quarterly report assessing the prospects of the triple A-rated countries, Moody’s said ...
UK and US credit ratings safe for now
by Kay Murchie
March 12, 2010
Accountancy firm Ernst & Young (E&Y) has been criticised in a 2,200-page report over the collapse of Lehman Brothers, and could face legal action as a result.
The report has accused E&Y of negligence, while senior management at the bank were said to be involved in “lazy accounting gimmicks” to conceal the fact that the bank was insolvent.
However, E&Y said ...
Report reveals “accounting gimmicks” used at Lehman
by Kay Murchie
March 4, 2010
A report by the Recruitment and Employment Confederation (REC) and KPMG has revealed February was the seventh consecutive month in which permanent places rose.
According to the report, more full-time jobs were added in February than at any time since July 2007.
The index, which is produced by Markit for the REC and KPMG, grew from 60.5 to 63.2 in February - any ...
Report reveals improvement in jobs market
by Kay Murchie
March 2, 2010
The Rics European Housing Review 2010 has revealed a mixed bag for European house prices.
The Royal Institution of Chartered Surveyors (Rics) found that only five countries reported growth in house prices - with the UK being one of them - rising by 1% in 2009.
Norway led the way with a 12% gain during 2009, while Finland, Sweden and ...
Handful of countries see house price growth in 2009
by Kay Murchie
February 25, 2010
In its second six-monthly set of complaints data relating to individual financial firms, the Financial Ombudsman Service (FOS) has today said complaints rose by 18% in the second half of 2009.
According to the FOS, it received 82,136 complaints between 1 July and 31 December 2009 - a rise of 12,295 compared with the first half of the year.
Meanwhile, in the second ...
Ombudsman complaints continue to rise
by Kay Murchie
February 23, 2010
A report from accountants PricewaterhouseCoopers (PwC) has revealed more disappointment in the jobs market despite the UK emerging from recession in the fourth quarter of 2009.
The report, which is based on interviews with bosses of 70 of the country's largest companies, found that 28% of bosses are planning redundancies over the next year.
The findings will undoubtedly cause concern to private sector ...
PwC report reveals more job woes
by Kay Murchie
February 22, 2010
UK businesses are being warned to accept the fact that it will not be “business as usual” for some time to come.
The warnings came from leading business groups including the CBI, the Institute of Directors and the Institute for Public Policy Research. They are contained in a new report by BDO, the accountants, and think ...
Report warns UK businesses to face up to reality after recession
by Kay Murchie
February 21, 2010
Royal Bank of Scotland (RBS) chief executive, Stephen Hester, has decided not to take his £1.6 million bonus, according to the BBC.
The decision by the 49-year-old comes just a week after Barclays chief executive John Varley and president Bob Diamond both agreed to sacrifice bonuses for the second year in a row, in light of the “intense public interest and ...
RBS CEO decides to waive £1.6m bonus
by Kay Murchie
February 17, 2010
The Office for National Statistics (ONS) has today revealed that UK unemployment fell slightly in the three months to December to 2.46 million.
However, the unemployment rate remains the same at 7.8%, according to the ONS.
In the meantime, the number of Britons claiming jobseeker’s allowance (JSA) rose by 23,500 in January to 1.64 million - the largest increase since July 2009.
Meanwhile, youth unemployment ...
UK unemployment continues to slow
by Kay Murchie
February 16, 2010
Shell has again been criticised for its poor environmental record in the Niger Delta. A new report, published this week, slams Shell's failure to take responsibility for limiting the environmental impact of its activities in the region. The, published by the Ecumenical Council for Corporate Responsibility (ECCR), examines five case studies carried out by NGOs operating in Nigeria. "The case studies reveal a consistent thread of concerns," the report says. "These include a continuing ...
Shell slammed for pollution in Niger Delta
by David MastersShell has again been criticised for its poor environmental record in the Niger Delta. A new report, published this week, slams Shell's failure to take responsibility for limiting the environmental impact of its activities in the region. The, published by the Ecumenical Council for Corporate Responsibility (ECCR), examines five case studies carried out by NGOs operating in Nigeria. "The case studies reveal a consistent thread of concerns," the report says. "These include a continuing ...
February 10, 2010
The UK's official rate of inflation increased to 2.9% in December 2009, up from just 1.1% three months earlier.
The rise was driven by higher petrol costs and the effects of the reduction in the standard rate of VAT a year earlier dropping out of the twelve-month comparison.
In it quarterly inflation report, the Bank of England is predicting further rises in the ...
Official rate of inflation hits 2.9%
by Gill Montia
January 22, 2010
The National Fraud Authority (NFA) has revealed the extent to which fraud is having on the UK economy.
According to the NFA’s figures, fraud (including scams, online theft, insurance cheats and tax fraud) is costing the economy £30 billion a year - the equivalent of £621 per adult in the UK.
The figures have resulted in City watchdog, the Financial Services Authority, to ...
Fraud costs higher than expected
by Kay Murchie
January 18, 2010
A report by the Institute of Practitioners in Advertising (IPA) and accountants BDO said advertisers continued to reduce their budgets in the fourth quarter of 2009, but the rate of decline was at its slowest in almost two years.
As they economy recovers, the report suggests that budgets will rise in 2010 and comes after a severe slump in advertising ...
Advertising spend to pick up as economy recovers
by Kay Murchie
January 12, 2010
Supermarket giant, Tesco, has announced a sharp rise in Christmas sales and follows strong sales from other major retailers, boosting hopes that the economy has finally emerged from recession.
Tesco, which is the UK's largest retailer, said it experienced its best Christmas in the UK for three years with total UK sales in the six weeks to January 9 growing by ...
Tesco experiences ’strongest Christmas for three years’
by Kay Murchie
January 4, 2010
Fears over the future of final salary pension schemes has reared its ugly head again after a report from the Association of Consulting Actuaries (ACA) revealed that nine out of 10 such schemes are now closed to new members.
The ACA, which questioned over 300 companies, found that employers continue to shy away from these high cost schemes with 87% of workplace final ...
Report reveals more pension woes
by Kay Murchie
December 4, 2009
According to a review by the National Audit Office (NAO), the cost of propping up the UK’s failing banks was ‘justified’.
The report by the NAO found that the cost of bailing out UK banks has hit £850 billion but the report concluded that the end result of protecting customers' money and restoring financial stability had been achieved.
Amyas Morse, head of the ...
Report finds bank bailouts were ‘justified’
by Kay Murchie
