Communicate better or risk being labelled as robbers and plunderers forever.
This is the warning that the CBI has sounded to the private equity industry,
which has faced heated criticism from Unions and politicians over the past few
Richard Lambert, the director-general of the CBI, said the industry needed to
let the public know that it had created more jobs than listed companies,
‘They should be leading the discussion about appropriate disclosure
structures, not leaving it to others to explain their real value to business and
the economy more generally,’ said Lambert.
The firms have been labelled as asset-strippers after
bought out the AA and
promptly sacked 3,400 workers. Pressure has also been mounting to reform tax
structures on interest relief which benefit private equity firms greatly.
Despite this pressure, the FT reports that UK has been ranked as the
best location in Europe for venture capital deals. Research by Library House
showed that €1,784bn (£1.19bn) was invested in the UK in 2006.
The nearest competitor was France where €875m was invested. Spain was third
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.