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December 2012

US drives global PE-backed IPO activity in 2012
London, 20 December 2012
Global private equity-backed IPOs faced stiff headwinds in 2012, with companies raising US$20.5b through 103 IPOs in the first 11 months of this year–almost a 50% drop – compared to 2011, when US$38.6b capital was raised in 116 deals.

Global announced M&A deals rise in Q4 2012, but conversion rate continues to decline
London, 20 December 2012
Global volume and value of announced M&A rose by 4% and 25% respectively, in Q4 2012, compared to the previous quarter.

Emerging markets big winners within clean energy sector in 2012
London, 19 December 2012
With an abundance of natural resources and an increasing demand for energy; emerging markets have been the big winners within the clean energy sector during 2012 according to Ernst & Young’s quarterly global Renewable energy country attractiveness indices.

Eurozone painfully progressing to stability
Frankfurt, 13 December 2012
Despite a year of turmoil in the Eurozone the currency union will enter 2013 with a brighter outlook than 12 months ago.

Ernst & Young ranked most attractive professional services employer by European graduates
London, 12 December 2012
Ernst & Young has been ranked Europe’s top professional services organization – and the third most attractive employer overall – in Universum’s first ever European talent attraction index, Europe’s Most Attractive Employers 2012.

2012 Global M&A values half that of 2007’s boom; 2013 to see strategic, bolt-on deals
London, 12 December 2012
The slowdown in global M&A continued through 2012 as the value of deals fell by 47% to a projected US$2.25trillion from the height of the M&A boom in 2007 of US$4.3trillion and are 21% down in volume to 36,865 in 2012 from 46,701 in 2007, according to data analysis by Ernst & Young, released today.

Global IPO activity expected to pick up in second half 2013 driven by the US
London, 11 December 2012
After a slow start to 2012, momentum lifted in the second quarter, but significant macroeconomic volatility and changes in political leadership in many parts of the world, weighed on global IPO activity for the remainder of the year.

More job losses predicted by European banks as crisis refuses to fade
London, 10 December 2012
Cost cutting, in particular reduction in headcount, has moved up the priority list for both retail and investment banks in the next six months as they face up to growing concerns about the European economy and the sovereign debt crisis, according to Ernst & Young’s European Banking Barometer, released today.

Exploration and development spending fuels growth in worldwide oil and gas reserves
London, 6 December 2012
As a result of growth in Asia-Pacific gas reserves, investments in Canada’s oil sands and the dramatic increase of US shale reserves, worldwide oil and gas reserves increased in 2011. Worldwide oil reserves grew by 1% in 2011, while gas reserves rose by 4%. Oil and gas revenues experienced 27% growth in 2011.

Private capital pursuing mining and metals investments
London, 5 December 2012
Increasing interest in mining and metals from private equity funds, sovereign wealth funds and state-owned enterprises is set to be a key trend in the sector in 2013, according to Lee Downham, Ernst & Young’s Global Mining & Metals Transactions Leader.

Equity markets in emerging economies to experience significant growth in next decade
London, 5 December 2012
In under a decade, equity markets in the emerging world have flourished and become critical sources of finance for emerging markets (EM) businesses according to Ernst & Young’s Moving towards the mainstream report, produced in collaboration with the Ernst &Young /SKOLKOVO Institute for Emerging Markets Studies, released today.

Ernst & Young recognized as global knowledge leader
London, 5 December 2012
Ernst & Young is pleased to announce that it has been recognized among the world’s knowledge leaders, as a Most Admired Knowledge Enterprise (MAKE) for the 14th time. A panel of Global Fortune 500 senior executives and internationally-recognized knowledge management and intellectual capital professionals selected the 2012 Global MAKE Winners.

Cost competitiveness, project execution top priorities for miners
Sydney, 3 December 2012
The fundamental demand outlook for the mining and metals sector is strong coming into 2013, but cost competitiveness and project execution remain the focus for global mining and metals companies.

November 2012

Global renewables industry at tipping point as it seeks to reduce reliance on subsidies
London, 29 November 2012
The renewable energy industry is at a tipping point as the developed markets start to close the door on generous subsidy programs and emerging markets develop cost strategies to compete with fossil fuels according to Ernst & Young’s latest quarterly global Renewable energy country attractiveness indices report released today.

China media and entertainment industry continues to experience exponential growth
Los Angeles and Shanghai, 28 November 2012
The staggering economic growth-rate of mainland China has created unprecedented opportunities for Chinese and global media and entertainment companies, according to Spotlight on China, a report released by Ernst & Young, to coincide with its Media & Entertainment Emerging Markets Executive Forum being held in Shanghai.

Asia-Pacific’s trade flows to experience exponential growth in the next decade
London and Hong Kong, 28 November 2012
Rapid-growth markets (RGMs) in Asia-Pacific are expected to dominate world trade over the next 10 years and will account for a quarter of global consumption by 2020, according to Ernst & Young’s new report Beyond Asia: new patterns of trade.

Potential shortfall of US$51billion in global climate change funding by 2016
London, 23 November 2012
The fallout from any Eurozone break-up could potentially create a US$51b gap in climate change funding by 2016 according to a study released today by  Ernst & Young. The Bridging the gap report, based on the analysis of environmental spending in relation to climate change across 10 major economies during 2011, extrapolates public sector spending levels to forecast the impact of current austerity measures over the next five years.

Q3 global power and utility deals hit by valuation concerns
London, 15 November 2012
Following a bumper Q2 of deal-making in the global power and utilities (P&U) sector, Q3 saw mergers and acquisitions (M&A) values in the sector decline by 60% (68 compared to 77 in Q2) and volumes of activity down by 12% (US$19b compared to US$47.9b in Q2), as the growing valuation gap between buyers and sellers proves the major barrier to deal completions, together with a significant decline in European and Asia-Pacific deal activity.

Ernst & Young recognized as one of the 25 World’s Best Multinational Workplaces by Great Place to Work®
London, 14 November 2012
Ernst & Young announced today that it has been recognized as one of the World’s Best Multinational Workplaces (http://www.greatplacetowork.net/worlds-best-multinationals/the-list) by Great Place to Work^® Institute.

Talent management sea change needed for global growth, says survey
London, 12 November 2012
High performing organizations are much more likely to decentralize their operations to compete in a global business environment, says new Ernst & Young report.

Global technology M&A value falls 52% YOY on weakened global economy
New York, 12 November 2012
The aggregate value of technology mergers & acquisitions (M&A) fell 52% year-on-year (YOY) and 15% compared with the previous quarter to US$28.2b in the third quarter of 2012, according to Ernst & Young’s Global technology M&A update: July–September 2012 report.

Rise in foreign investment into Europe in 2012 despite volatility
London, 9 November 2012
Despite the global downturn and the uncertainties created by the ongoing Eurozone crisis, Europe continued to attract foreign direct investment (FDI) in the first half of 2012, according to interim data in Ernst & Young’s mid-year European Attractiveness Survey.

Increasing investment opportunities across Africa but challenges remain
London, 8 November 2012
Foreign direct investment (FDI) into Africa has increased significantly over the last decade and this trend is set to continue, but the decision on where to invest in this vast and diverse continent can prove challenging, according to Ernst & Young’s Africa by numbers: Assessing market attractiveness in Africa report out today.

Unprecedented demand for CFOs to serve on corporate boards
London, 6 November 2012
The demand for CFOs on corporate boards is undergoing an unprecedented rise, driven by regulation, difficult economic conditions and the CFOs’ broadening skill set, according to a new Ernst & Young study.

REIT recovery continues around the world but raising capital still a tough challenge
London and New York, 5 Novemberr 2012
Real Estate Investment Trusts (REITs) around the world continue to show signs of recovery but still face some severe challenges, especially in raising fresh capital, according to Ernst & Young’s Global perspectives: 2012 REIT report.

Perceived benefits of hedge fund regulation deteriorates among investors
New York, 5 November 2012
Despite increasing regulatory requirements for hedge funds, only 10% of investors feel that regulations effectively protect their interests, and 85% of investors do not believe these requirements will help prevent the next financial crisis, according to Ernst & Young’s sixth annual survey of the global hedge fund market, Finding Common Ground.

Oil and gas companies remain focused on fundamentals
London, 5 November 2012
Key findings of the bi-annual Oil & Gas Global Capital Confidence Barometer indicate that only 27% of oil and gas executives feel that the global economy is strongly or modestly improving, down sharply from 55% just six months ago and that the intention to sell assets is down by almost 70%. It is evident that economic recovery is taking longer than expected.

COOs have potential to shape future success for organizations
London, 1 November 2012
With the toughest job in the C-suite, Chief Operating Officers (COOs) who can combine deep operational knowledge with broad strategic insight are ideally placed to innovate and create future growth for organizations according to Ernst & Young’s DNA of the COO report released today.

October 2012

Growing role for Africa in the “Golden Age of Gas”
London and Cape Town, 30 October 2012
With open access and attractive leasing terms, Africa’s oil and natural gas resources continue to attract a broad spectrum of investors, according to a new report from Ernst & Young Natural gas in Africa – The frontiers of the Golden Age launched at Africa Oil & Gas Week.

Ernst & Young supports recommendations released by the Financial Stability Board’s Enhanced Disclosure Task Force
London, 30 October 2012
Ernst & Young supports the recommendations in the report released yesterday by the Financial Stability Board’s (FSB) private sector Enhanced Disclosure Task Force (EDTF) initiative.

Ad-hoc information security solutions no longer an option, as companies struggle to keep pace with today’s threats
London, 29 October 2012
Organizations need to fundamentally shift their approach to information security in order to meet the threats presented by existing and emerging technologies according to Ernst & Young’s Global Information Security Survey 2012 report released today.

Real estate private equity challenged by liquidity issues
London and New York, 25 October 2012
Real estate private equity fund managers around the world continue to face major challenges stemming largely from ongoing illiquidity within the capital markets.

Growth in rapid-growth markets to slow but quick rebound expected
London, 25 October 2012
Although the global economic environment has deteriorated since the start of this year — impacting on the outlook for rapid-growth markets exports and their ability to attract foreign direct investment — but this will be a temporary phenomenon, according to Ernst & Young’s quarterly Rapid-Growth Markets Forecast (RGMF) released today.

Significant increase in global mobility assignments to emerging markets creates challenges
London, 24 October 2012
Nearly half of global companies interviewed on the issue of global mobility assignments intend to increase the number of staff sent to growth markets, such as Africa and China, over the next year.

Cash is a challenge for cash-rich and cash-poor CFOs
London, 23 October 2012
Whether they are cash-rich or cash-poor, CFOs currently face significant cash management challenges according to a report released today by Ernst & Young.

Impact of regulatory and accounting changes critical to viability of bank's OTC derivatives business
London, 22 October 2012
Ernst & Young’s survey, Reflecting credit and funding adjustments in the fair value of derivatives and issued debt, captures the progress of 19 of the largest, most sophisticated dealing houses and benchmarks current practice in calculating credit and funding adjustments to fair value, as well as the impact of Basel III on this process.

43% of European insurers will not be ready for Solvency II by 2014 but 90% would be ready by 2015
London, 18 October 2012
While 57% of insurers across Europe think they are on track to comply with Solvency II by January 2014, readiness varies significantly country by country, according to the Ernst & Young European Solvency II Survey, a survey of 160 large insurance companies across Europe.

Private equity ready to do deals, but quality of transactions and economic concerns remain
London, 18 October 2012
The latest Ernst & Young Private Equity Capital Confidence Barometer has found that Global PE investors are ready and willing to do deals and 43% intend to sell more assets in the next twelve months.

Oil demand for remainder of 2012 constrained by lackluster economic environment
London, 17 October 2012
The Ernst & Young Global Oil & Gas Q4 outlook highlights that the markets for the remainder of 2012 remain uncertain with oil prices becoming somewhat disconnected from market fundamentals.

FDI flows to the Middle East shift from developed markets to intra-regional investments
London and Doha, 17 October 2012
Launched to coincide with the Growing Beyond Summit 2012 in Qatar, Ernst & Young’s inaugural Middle East Attractiveness Survey is a detailed analysis of how foreign direct investment (FDI) into the region has evolved in the last decade.

Companies are increasingly seeking tax savings and efficiencies as part of M&A as authorities step up scrutiny of deals
London, 17 October 2012
Global tax directors at the world’s largest companies say in a new Ernst & Young survey they have increased efforts to find value through tax efficiencies as part of the of mergers and acquisitions process.

CEO Champions commit to increasing global reach, sponsorship of high-potential women, and peer engagement at the Women's Forum Global Meeting in Deauville
Deauville, 12 October 2012
The CEOs taking part in the closed-door meeting at the 8th Women’s Forum Global Meeting in Deauville, France, focused on the importance of peer pressure and role models, and the need to create “visibility with teeth” by increasing global reach, creating an online coalition, and leveraging the power of sponsorship.

New smartphone services fall short of potential as consumers are confused by data price plans and mobile functions
London, 10 October 2012
Consumers are overwhelmed by new mobile internet services and increasingly complex mobile data price plans, according to The Mobile Maze, a new survey by Ernst & Young.

Eurozone periphery’s pain to continue as retreat of banks behind national borders exacerbates recession
London, 9 October 2012
As banks retreat further behind their national borders, bank lending will fall twice as fast as it did following the peak of the global financial crisis according to the Ernst & Young Eurozone Financial Services Forecast (EEFSF).

Falling confidence and rising concerns on valuation gap to hit M&A in next 12 months
London, 8 October 2012
Global mergers and acquisitions (M&A) are set to be dealt a double blow as a faltering global economic outlook reduces the appetite for inorganic growth, while rising concerns over valuations also threaten to further undermine the immediate business case for M&A.

Bill Banks appointed Ernst & Young’s Global Infrastructure Leader
London, 5 October 2012
Ernst & Young has appointed Bill Banks as its new Global Infrastructure Leader.

Edit Osikovicz named Young Tax Professional of the Year 2012
Boston, 3 October 2012
Edit Ágnes Osikovicz, Hungary, who has completed a Master’s degree in law at Eötvös Loránd University, has been named Ernst & Young’s Young Tax Professional of the Year 2012 at an awards ceremony held in Boston. Edit was picked from among 20 country finalists, each of whom had already been named the Young Tax Professional of the Year in their home country.

CIOs risk being sidelined if they fail to change C-suite approach
London, 3 October 2012
As the business world evolves, CIOs can, and must, refresh the outdated perspectives that other executives still hold about their role in order to succeed, according to Ernst & Young’s DNA of the CIO report released today.

Global medtech industry delivering strong returns despite economic conditions
London, 2 October 2012
Publicly traded medtech companies in the US and Europe defied the dampened growth environment of the global economy and turned in another solid performance in 2011, with revenue growth outpacing 2010 rates while delivering a third consecutive year of double-digit net income growth.

Ernst & Young reports 2012 global revenues of US$24.4 billion
London, 2 October 2012
Ernst & Young today announced combined global revenues of US$24.4 billion for the financial year ended 30 June 2012, compared with US$22.9 billion in 2011.

September 2012

Ernst & Young achieves “strong positive” rating for its global enterprise risk management consulting
London, 27 September 2012
Ernst & Young is pleased to announce that it has received a "strong positive", the highest possible rating given, in Gartner's MarketScope for Global Enterprise Risk Management (ERM) Consulting Services.

A lost decade for the Eurozone?
Frankfurt, 27 September 2012
While the European Central Bank’s Outright Monetary Transactions has significantly reduced the risk of a Eurozone breakup in the near term, the broader policy response to the crisis has still fallen short of the game-changer needed to restore long-term stability, according to the autumn Ernst & Young Eurozone Forecast (EEF).

Sharp decline in global IPO deal value and volume in Q3 but recent listings suggest more deals to come in Q4 2012
London, 26 September 2012
Global IPO activity continued to drop in Q3 2013 although; recent listings suggest a market improvement in the coming months, according to Ernst & Young’s latest Global IPO update. So far this quarter, global IPOs have raised US$24.1b, down 46% by capital raised, compared to Q2 2012 (US$44.3b) and down 16% compared to Q3 2011 (US$28.6b).

M&A market prepares for the chill to set in
London, 25 September 2012
Following a year of continued macro-economic uncertainty, global M&A activity is falling with the level of completed deals reaching the lowest level since Q1 2010.

Opportunity and optimism: global media and entertainment CEOs see digital media as a significant driver of future growth
London, 12 September 2012
Global media and entertainment CEOs are optimistic about the digital future and expect digital revenue will be a rapidly increasing percentage of overall revenue for companies, according to Ernst & Young’s latest CEO study Opportunity and optimism: How CEOs are embracing digital growth released today.

Ernst & Young: Global demand for Sukuk to reach US$900bn by 2017
London, 9 September 2012
According to estimates by Ernst & Young’s Global Islamic Banking Center of Excellence, the global demand for Sukuk is forecasted to grow three-fold from US$300 billion to US$900 billion by 2017.

Hedge accounting proposals aim for clarity on risk management activities
London, 7 September 2012
The International Accounting Standards Board (IASB) today released a draft final standard with revised proposals on hedge accounting that will allow many entities better to reflect their risk management activities in the financial statements.

Largest global companies already taking strategic action to mitigate energy risks
London, 7 September 2012
The largest global corporations are already tackling potential future energy cost rises through C-suite engagement and proactive energy strategies, according to a survey of US$1b-plus global companies, for the Ernst & Young Global Annual Cleantech Insights and Trends report released today.

Positive outlook for Russian inward investment as it joins WTO
London and Moscow, 7 September 2012
Despite the global economic uncertainty investors remain positive about the long-term attractiveness of Russia as an investment destination according to Ernst & Young’s second Russia Attractiveness Survey.

Ernst & Young launches Global Center for Entrepreneurship and Innovation
London, 6 September 2012
Ernst & Young is delighted to announce the launch of its Global Center for Entrepreneurship and Innovation, an online platform providing guidance to entrepreneurs and innovators on their growth journey as well as enabling fast growing companies to connect to each other sharing their different perspectives.

August 2012

M&A activity in the Oilfield Services industry expected to increase over next 12 to 24 months
London, 29 August 2012
A newly released report, Ernst & Young Dynamic Dealmaking in Oilfield Services, by Ernst & Young and mergermarket indicates that the vast majority of the survey respondents (84%) are expecting an increase in M&A and none expect a decrease.

Political support and clear policies prove critical for renewable energy market growth
London, 29 August 2012
Having quadrupled its solar capacity target to 50GW by 2020 and  begun an accelerated domestic installations program to tackle the oversupply of solar panels, China looks set to continue its domination of the global renewable energy market, according to Ernst & Young’s latest quarterly global Renewable energy Country Attractiveness Indices report (CAI) released today.

Ernst & Young announces partnership with The 2012 European Ryder Cup Team and The 2014 Ryder Cup
Gleneagles (Scotland), 27 August 2012
On the day the European Team for The 2012 Ryder Cup is confirmed, Ernst & Young becomes an Official Partner to The 2012 Ryder Cup Team and The 2014 Ryder Cup.

Macroeconomic uncertainty catches up with technology sector
New York, 16 August 2012
Global technology mergers and acquisitions deal value slowed to US$33.4b of aggregate deal value in the second quarter of 2012, down 43% year-over-year.

Breaking down the barriers for women on and off the sports field
London, 11 August 2012
As the Olympic Games celebrates historic achievements in gender equity, Ernst & Young launches new white paper on enhancing diversity in sports, business, society and the global economy.

Brazil’s retail and consumer products sector reports 91.9% surge in foreign direct
London, 10 August 2012
A stable economy and a burgeoning middle-class population has resulted in Brazil’s retail and consumer products (RCP) sector seeing a 91.9% increase in foreign direct investment (FDI) during 2011, compared with 2010, according to Ernst & Young’s first annual Brazilian Attractiveness Survey.

Brazil – an investment success story
London and Sao Paulo, 10 August 2012
A stable economy, a burgeoning domestic market and huge untapped reserves of natural resources have led foreign investors to become increasingly interested in Brazil as an investment destination although there are challenges to sustaining this attractiveness according to Ernst & Young's first annual Brazilian Attractiveness Survey.

Marketers pinpoint today's consumer with new web-based tool
London, 9 August 2012
To help organizations get a clearer picture of today’s consumers and their shifting needs Ernst & Young has created a new, publically available, web-based tool to map consumer habits and help marketers ensure the relevance of their offering and drive customer loyalty.

Supply outweighs demand for oil, while gas is the growth story for rest of 2012
London, 1 August 2012
The next six months should see over supply in the oil market with increased production from Libya, Iraq and US shale keeping oil prices flat according to Ernst & Young’s Quarterly Oil and Gas outlook.

July 2012

Q2 global power and utility deal value surges 84%
London, 31 July 2012
In a sign of improved deal-making conditions Q2 2012 saw global power and utility deal value increase from US$26.06b to US$47.9b (84%) and deal volume increase 20% in comparison with Q1 2012.

Return of the mega-deal drives increase in global consumer products deal values
London, 27 July 2012
While consumer products (CP) deal volumes decreased by more than a third during the first six months of 2012, compared with the same period in 2011, the value of deals jumped by 11%, buoyed by a small number of high value deals in Q2 2012, according to the latest issue of Consumer Products Deals Quarterly.

2012 M&A Maturity Index
London, 26 July 2012
The US and Singapore are the world’s most attractive markets in which to do M&A, according to 2012 M&A Maturity Index.

Global PE-backed IPO activity declined in Q2 2012
London, 24 July 2012
Global PE-backed IPO activity slowed in Q2 2012, with global sentiment reversing sharply in May, as the debt crisis re-intensified in Europe and led to renewed concerns for a global slowdown.

Mining M&A – are we seeing a shift from build to buy?
London, 23 July 2012
Rapidly escalating development costs may herald a shift in focus from build to buy in the global mining and metals sector, says Ernst & Young’s Global Mining & Metals Transaction Leader, Lee Downham.

Eighty percent of chief audit executives acknowledge room for improvement with internal audit functions
London, 18 July 2012
With risk, control and compliance becoming increasingly important in today’s global marketplace, a new global survey of 695 chief audit executives (CAEs) and C-suite executives released by Ernst & Young today reveals that 80% of organizations acknowledge that their internal audit function has room for improvement.

Slowdown in rapid-growth markets to be short-lived
London, 11 July 2012
Economic expansion in the 25 leading rapid-growth markets (RGMs) has started to slow sharply since the beginning of this year but this will only be a temporary blip according to Ernst & Young’s quarterly Rapid-Growth Markets Forecast (RGMF) released today.

Global survey reveals talent management challenges for rapid growth market multinationals
London, 10 July 2012
Emerging market multinationals are struggling to build effective international management teams as they grapple with cultural differences, conflicting internal perceptions of talent management, difficulties in balancing global and local talent, and a lack of a reliable leadership pipeline.

PE houses holding on to their assets until European markets stabilizes
London, 9 July 2012
The overall value of European buyouts totaled €9.1b in Q2 2012, a 34% decrease from €13.9b in Q1 2012 and almost 60% below the value of Q2 2011, according to the latest data published by the Centre for Management Buyout Research (CMBOR), sponsored by Ernst & Young and Equistone Partners Europe.

Resource nationalism remains number one risk for miners
Sydney, 9 July 2012
Resource nationalism remains the number one risk for mining and metals companies around the world, as ranked by Ernst & Young’s annual Business risks facing mining and metals 2012-2013 report, released today.

Foreign direct outflows from Asian markets to hit US$400b by 2020
Hong Kong,  5 July 2012
The importance of Asia to global trade will continue to increase steadily over the next decade with foreign direct outflows reaching US$400b by 2020 for the nine rapid growth markets within East and Southeast Asia.

Bank balance sheets to shrink faster than during the financial crisis
London,  2 July 2012
The Ernst & Young Eurozone financial services forecast (EEFS) released today draws attention to the delayed impact of the current Eurozone turmoil on financial services and the role they will play in the economy during 2013.

Ernst & Young announces 548 new partners worldwide
London,  2 July 2012
Ernst & Young has today announced the admission of 548 new partners across its global organization.

Patrick Flochel appointed Ernst & Young Global Pharmaceutical Leader
London,  2 July 2012
Ernst & Young is pleased to announce Patrick Flochel has been appointed Global Pharmaceutical Leader, expanding his responsibilities from his current role as EMEIA Life Sciences Leader.

June 2012

Eurozone leaders can no longer kick the can down the road
Frankfurt, 28 June 2012
Best case scenario is mild recession in 2012, weak recovery in 2013.

M&A Tracker Q2 2012 news release
London,  27 June 2012
Global volume and value of announced deals rose by 10% and 18% respectively in the second quarter of 2012, showing some signs of recovery after a long slowdown.

Global IPO activity rose in Q2 2012
London,  27 June 2012
Global IPO activity saw an improvement in Q2 2012, according to Ernst & Young’s Global IPO update.

Power in the banking relationship shifts dramatically to the consumer
New York, NY, 25 June 2012
Consumers are taking control of their banking relationships, are increasingly likely to change banks and expect to be able to choose between a range of service levels and costs.

Foreign investment into Europe rises despite Eurozone crisis
La Baule, France, 20 June 2012
Ernst & Young’s 10th annual European Attractiveness Survey combines an analysis of international investment into Europe over the last year with a survey of more than 800 global executives on their views about how and where global investment will take place in the next decade.

Consumer products companies face declining margins
Istanbul, 20 June 2012
In an unprecedented business environment of accelerating pace of change and spiraling complexity, almost three quarters of consumer products (CP) companies say they need to make significant changes to their business in order to sustain historic margins according to Disrupt or be disrupted, a report released today by Ernst & Young.

New life sciences R&D model based on real-time learning and data-sharing needed to sustain innovation
Boston & London, 19 June 2012
The global biotechnology industry showed a second straight year of increasingly stable financial performance in 2011, according to Ernst & Young’s 26th  annual biotech report, Beyond borders: global biotechnology report 2012, with established biotech markets registering more than 10% revenue growth for the first time since the start of the global financial crisis.

Governments increase fiscal focus on oil and gas sector
London, 13 June 2012
Tax revenues from oil and gas companies continue to provide a significant proportion of income for states around the world, according to the latest Ernst & Young Oil & Gas Tax Guide. The report also confirms that many governments are working on ways to make oil and gas tax regimes more attractive to investors.

James Mwangi of Kenya's Equity Bank named Ernst & Young World Entrepreneur Of The Year 2012
Monte Carlo, 10 June 2012
Dr. James Mwangi, CEO and Managing Director of Kenya's Equity Bank Limited was tonight named the Ernst & Young World Entrepreneur Of The Year 2012 at an awards ceremony held in Monte Carlo's Salle des Etoiles. James was picked from among the 59 country finalists vying for the title across 51 countries, each of whom had already been named the Ernst & Young Entrepreneur Of The Year in their home country.

Jeffrey Owens appointed as Senior Tax Policy adviser to Ernst & Young
London, 8 June 2012
Ernst & Young is pleased to announce the appointment of Dr Jeffrey Owens as Senior Policy Adviser to its Global Vice-Chair of Tax, Dave Holtze.

Private equity drives productivity and employment across Europe
London, 8 June 2012
• Business services, health care and retail emerge as PE best performing sectors
• PE still outperforming public markets.

Despite tough economic times entrepreneurs are creating jobs and growth
Monte Carlo and London, 7 June 2012
Global job hot spots: help wanted, a survey of 400 of the world's leading entrepreneurs released today by Ernst & Young highlights that despite tough economic times, over two thirds of them also expected to hire in 2012.

May 2012

SMEs create 50% of jobs in the G20, yet only receive 6% of investment
London and Mexico City, 30 May 2012
A new white paper, Funding the Future, released by Ernst & Young to coincide with the G20 Young Entrepreneur Summit 2012 (G20 YES) in Mexico, analyses why entrepreneurs are so critical for a global economiZc recovery but continue to face challenges in accessing funding across the world.

The changing face of commercial vehicle industry: report reveals what it takes to be the new market leaders
London, 30 May 2012
Mega trends shaping the global commercial vehicle industry, a report by Ernst & Young, looks at how stakeholders across the commercial vehicle value chain are likely to be impacted by trends shaping the industry – from the operating environment, preferences relating to fleet operators and competition, to distribution channels and the supply chain.

Power and utilities M&A outlook down and appetite for divestment up
London, 29 May 2012
Persistent market volatility, austerity measures, Eurozone uncertainty and potential for slowing growth in emerging markets have continued to dampen the acquisition appetite for power and utility companies, according to Ernst & Young's latest Capital Confidence Barometer, based on interviews with 189 power and utilities senior executives in 33 countries.

Markets with strong "soft power" brands attract greater share of FDI
London, 29 May 2012
Ernst & Young today launched its Rapid Growth Market Soft Power Index, in conjunction with the Moscow-based SKOLKOVO Institute for Emerging Markets Studies which shows that countries with strong "soft power" brands attract significantly more foreign direct investment (FDI)

Grid parity key to longer-term success as clean energy faces challenging 2012
London, 28 May 2012
Following a record year in 2011, investment flows in clean energy during Q1 2012 were the weakest since 2009 according to Ernst & Young's latest quarterly global renewable energy Country Attractiveness Indices report (CAI) released today.

John O'Grady appointed representative to IFRS Interpretations Committee
London, 24 May 2012
Ernst & Young is pleased to announce John O'Grady has been appointed by the International Financial Reporting Standards (IFRS) Foundation Trustees as a representative on the IFRS Interpretations Committee, effective 1 July  2012.

Drive for revenue growth ignores risk of prosecution for senior executives
London, 23 May 2012
Ernst & Young's 2012 Global Fraud Survey, Growing Beyond: a place for integrity, shows fifteen percent of senior executives polled at leading companies around the world are willing to make cash payments to win or retain business, up from 9% in 2010.

Power and utilities mergers and acquisitions decline 30% in Q1 2012
New York, 17 May 2012
The re-emergence of natural gas as the preferred fuel source for power generation is having a significant knock-on effect for power and utilities M&A activity according to the Ernst & Young Power Transactions and Trends report, released today.

Private Equity Firms Focused on a Growth-Driven Partnership Model Deliver Strong Returns In Latin America
Washington, D.C., 16 May 2012
Private equity firms' hands-on approach and focus on partnership is resonating with entrepreneurs and leading to successful exits in Latin American markets, according to a study conducted by the Emerging Markets Private Equity Association (EMPEA) and Ernst & Young LLP.

Technology mergers and acquisitions off to a mixed start in 2012
London, 15 May 2012
Aggregate deal value of global technology mergers and acquisitions (M&A) fell 12% year-on-year (YOY) to US$25.1b in the first quarter of 2012. 

Private equity executives remain confident in the number of deal opportunities over the next 12 months
London, 10 May 2012
Senior executives of private equity (PE) firms are maintaining a cautious but optimistic outlook on the state of the economy, both locally and globally, according to the results of the latest Ernst & Young Capital Confidence Barometer. 

Conservatism drives oil and gas M&A outlook down and appetite for divestment up
London, 9 May 2012
The sixth Ernst & Young Global Capital Confidence Barometer has found that despite higher oil prices, improving access to capital, increasing economic optimism and a generally more favorable deal environment, oil and gas executives are still cautious about engaging in M&A.

Appetite for mining deals remains strong, despite volatility
London, 8 May 2012
Continued volatility is impacting the level of mining and metals sector M&A activity but a strong pipeline indicates miners are showing an appetite to do deals, according to Ernst & Young's Global Mining & Metals Transaction Leader, Lee Downham.

Business and EU innovation policy not working effectively to produce economic benefits
London, 8 May 2012
Few business leaders across Europe are aware of the European Union's investment in innovation according to a study launched by Ernst & Young and the Centre for European Policy Studies.

FDI into Africa accelerates as investor perceptions begin to shift
London, 3 May 2012
Growing optimism and confidence among international and African investors has lead to significant inward investment into Africa over the last decade according to Ernst & Young's second African Attractiveness Survey.

April 2012

Treasurers worldwide need to change their operating model to sustain business growth
London, 25 April 2012
Corporate treasurers need to make faster and more fundamental changes to their operating models to achieve business unit and firm-wide goals according to a report by Ernst & Young, Reflecting on the future.

Large corporates have the means but lack motivation for M&A
London, 23 April 2012
A more favorable deal making environment is not yet convincing large corporates to engage in M&A, according to Ernst & Young's latest Capital confidence barometer, based on a survey last month of more than 1,500 senior executives in 50 countries around the world.

Political risks keep oil prices high, despite rising non-OPEC crude supply
London, 19 April 2012
Increased oil production in non-OPEC countries, which more than offsets increases in global demand, is keeping pressure on OPEC to limit crude output according to Ernst & Young's latest oil & gas quarterly outlook.

New alliance between Ernst & Young and CIPFA aims to increase transparency and comparability of public sector finances
London, 17 April 2012
Ernst & Young and the Chartered Institute of Public Finance and Accountancy (CIPFA) have announced an alliance to help organizations and governments around the world to improve their public financial management (PFM) systems and arrangements.

David Holtze appointed Ernst & Young's new Global Tax leader
London, 10 April 2012
Ernst & Young is delighted to announce the appointment of David Holtze as its new Global Vice Chair for Tax, leading 29,000 Ernst & Young tax professionals worldwide. In addition, he will become a member of Ernst & Young's Global Executive, the organization's highest management body, with both appointments taking effect immediately.

Q1 2012: Europe saw the largest PE-backed IPO in 18 months
London, 06 April 2012
Private equity-backed IPOs represented well over 1/3 of total IPO value globally with US$6.1b out of US$16.4b and 36 deals out of 181 IPOs.

Consumption a panacea to weak world outlook in rapid-growth markets
London, 02 April 2012 
While the global economy is still in an uncertain state and trade flows remain subdued, rapid-growth markets (RGMs) around the world are proving resilient. RGMs are expected to grow collectively at 5.3% this year, bouncing back to 6.3 % in 2013, according to Ernst & Young's quarterly Rapid Growth Markets Forecast (RGMF) released today.

March 2012

Tax authorities worldwide view indirect tax as a major source of revenue to balance books
London, 29 March 2012 
As governments across the world try to plug an increasing gap between tax and spending without stifling economic growth indirect tax is becoming more and more central to their tax planning and revenue raising. Whether it is higher VAT rates or the extension of the VAT base to include items that were formerly exempt or a general increase in excise duties authorities are becoming far more innovative in the ways they look at indirect taxes. Businesses too are becoming nervous of what additional indirect taxes will be levied on them in the future

Global IPO activity falls to lowest level since Q2 09
London, 29 March 2012
Global IPO activity has fallen sharply in Q1 2012, according to Ernst & Young's Global IPO update. So far this quarter, a total of 157 deals has raised only US$14.3b, down by 69% by capital raised (US$46.6b in 296 deals), compared to the same period last year. This is the lowest quarter on record since Q2 2009 when there were 82 IPOs worth US$10.4b.

Ernst & Young/EuropaBio report highlights need for European governments to ensure that R&D is converted into new businesses, new products and additional jobs
Brussels, 27 March 2012
National governments in Europe need to do more to ensure that R&D innovation in the biotech industry is translated into new businesses, new products and additional jobs according to a new report launched today by Ernst & Young and EuropaBio, "What Europe has to offer biotechnology companies: unraveling the tax, financial and regulatory framework".

Global mergers and acquisitions at lowest levels since Q1 2010
London, 26 March 2012
International M&A volumes decreased by 24% in the first quarter of 2012 compared to Q4 2011 and were down 26% compared to the same period last year (Q1 2011) according to the Ernst & Young M&A Tracker, released today. Globally deal values were down 13% quarter on quarter (q-on-q).

Bruising short-term outlook for Eurozone financial services and business balanced by moderate long-term prospects
London, 26 March 2012
The Ernst & Young Eurozone financial services forecast (EEFS) released today highlights that while the Greek restructuring and the European Central Bank's Longer-Term Refinancing Operation (LTRO) have calmed the markets at least temporarily the weakening economy will continue to put pressure on financial services companies across Europe and beyond.

Private Equity deal-making continues despite slower overall M&A environment
London, 20 March 2012
PE-backed M&A exits reached US$20.4b in the first two months of 2012, up nearly 15% from last September and October's market lows.

Ernst & Young statement on the Financial Stability Board (FSB) announcement
London, 16 March 2012
Ernst & Young welcomes the announcement by the FSB on its new audit program. We look forward to participating with other key stakeholders in ensuring that the lessons learnt from the financial crisis are incorporated into discussions around promoting financial stability and more meaningful financial transparency. 

A tough 2012 but is there light at the end of the tunnel for the Eurozone?
Frankfurt, 15 March 2012
Although the Eurozone faces a challenging year with large amounts of public and private sector debt yet to be refinanced, tight credit conditions, further fiscal austerity and more job losses, Ernst & Young's Eurozone Spring Forecast (EEF) is predicting a slow return to growth in 2013.

Uschi Schreiber appointed to lead Global Government and Public Sector Center at Ernst & Young
London, 14 March 2012
Ernst & Young has appointed Uschi Schreiber as the new Global Leader for its Government and Public Sector Center, which provides innovative solutions to clients around the world including national, state, and regional governments, international institutions, as well as cities, and large non-profits.

No respite for distress: more banks expected to sell non-performing loans in 2012
New York, 12 March 2012
According to the latest Ernst & Young US nonperforming loan (NPL) survey, At the crossroads: Ernst & Young 2012 real estate nonperforming loan investor survey, investors could also see more opportunities to acquire commercial real estate debt instruments in the year ahead.

EY Tracer technology for smart phones helps globetrotting workers avoid tax surprises
New York, 12 March 2012
Ernst & Young has released a new smart phone application that helps business travelers and their employers avoid global tax traps and immigration violations. This technology helps companies to manage the increasing risks associated with employees crossing borders, the conflicts they create and, in extreme cases, keeping executives out of jail.

Disruptive innovations and unsustainable costs propel life sciences companies into the behavioral change business
New York, 12 March 2012
With chronic diseases now accounting for three quarters of all health care spending in developed countries, life sciences companies will face increasing pressure to demonstrate that they are helping patients adopt healthier behaviors and manage their diseases more effectively.

Majority of organizations struggling to adapt business models to capitalize on new generation of 'co-creating'consumers
London, 7 March 2012
Consumers are now harder to define, understand, and please than ever before; and the majority of companies are struggling to take advantage of the opportunities available to them according to a survey released by Ernst & Young today.

February 2012

Global renewable energy market faces challenging times, with significant consolidation forecast 
London, 28 February 2012
While 2011 saw record levels of new investment into clean energy, especially solar technologies, the outlook for 2012 is far less certain, particularly in developed markets.

Credit squeeze to intensify across Europe as rising defaults force banks on a diet
London, 27 February 2012
According to Ernst & Young's European Banking Barometer, which is released today, banks are avoiding big restructuring and business development projects and instead are focusing on housekeeping as pressures from the wider economy deepen and new regulation further hits balance sheets.

Insurers are left playing catch up globally as consumer expectations soar
London, 20 February 2012
Ernst & Young's Global Insurance Customer Survey released today highlights how a combination of increased expectations and accessible technology mean that the insurance industry is now facing a far more demanding customer and that those suppliers who fail to make a rapid move to a more consumer-friendly business model risk being left behind.

Four former regulators  join Ernst & Young's regulatory network
New York, 16 February 2012
Stefan Walter, former Secretary General of the Basel Committee on Banking Supervision, is the latest regulatory appointment at Ernst & Young

Risk investment levels closely linked to financial performance
London, 16 February 2012
Over the last decade companies around the world have made substantial investments in personnel, processes and technology to help mitigate and control business risk. Historically, these risk investments have focused primarily on financial controls and regulatory compliance, however new evidence suggests that can they can also play a strategic role within the enterprise financially.

Failure to move away from a defensive business strategy is the top business risk for telecoms operators in 2012
New York, 15 February 2012
Questions over new business models, levels of capital expenditure and regulatory uncertainty represent the biggest threats and opportunities in a rapidly transforming telecommunications sector, according to a new report by Ernst & Young.

Technology mergers and acquisitions surge in 2011
New York, 14 February 2012
Aggregate deal value of global technology mergers and acquisitions (M&A) surged 41% in 2011, even as the value of global M&A in all industries fell slightly amid economic uncertainty.

Moment of truth for electric vehicle industry
London, 10 February 2012
Following comprehensive stakeholder discussions in Bonn, Detroit and Beijing, Ernst & Young has today launched an in-depth report highlighting the global challenges and opportunities facing today's electric vehicle (EV) market.

Miners returning to M&A 
Cape Town, 6 February 2012
Robust demand fundamentals, strong balance sheets and an appetite for growth will drive a step-up in M&A in the global mining and metals sector in 2012, says Ernst & Young's Global Mining & Metals Transaction Leader, Lee Downham.

European insurers face ongoing capital challenges as they struggle to deliver top-line growth in 2012
London, 3 February 2012
European life and non-life insurers face significant strategic decisions and difficult choices in 2012 with the recent European sovereign downgrades adding to capital pressures, according to Ernst & Young's new European Insurance Industry Outlook.

Events of 2011 will continue to shape the Oil and Gas industry in 2012
London, 2 February 2012
Key events and trends in 2011 frame Ernst & Young's Oil & Gas expectations for 2012. Issues such as geopolitical upheaval, the Fukushima nuclear power plant disaster, high oil prices, as well as environmental and safety concerns have all provided real challenges in the period under review.

Ernst & Young ranked number one for "Financial Services Consulting Provider globally for financial consulting revenue"
London, 2 February 2012
Ernst & Young is pleased to announce that it has been ranked number one "Financial Services Consulting Provider globally for financial consulting revenue in 2010," by Kennedy Consulting Research & Advisory in its Financial Services Consulting Marketplace Report 2011.

Ernst & Young announces Carolyn Buck Luce Named 2012 Woman Of The Year by The Healthcare Businesswomen's Association
New York, 1 February 2012
Ernst & Young is pleased to announce that the The Healthcare Businesswomen's Association (HBA) has named Carolyn Buck Luce, Global Pharmaceutical Leader at Ernst & Young, its 2012 Woman of the Year. Ms. Buck Luce is being recognized for her decades-long leadership in healthcare and life sciences as well as her tireless efforts focused on the advancement of women in the industry.

January 2012

Views on direction for global accounting standards in 2012-2015
London, 31 January 2012
Following the conclusion of the International Accounting Standards Board's (IASB) consultation in November 2011 for its future direction and agenda over the next three years, and to coincide with the launch of the International GAAP® 2012, Ernst & Young provides some views on the role the IASB could play in setting relevant and useful standards for global financial reporting.

FDI in India up 25% in 2011
London, 30 January 2012 
Foreign investors see India as an attractive investment option, notwithstanding the uncertain global economic climate, according to Ready for the transition, Ernst & Young's 2012 Indian Attractiveness Survey.

Dutch multinationals start Dutch Sustainable Growth Coalition
Davos, 27 January 2012
A group of Dutch multinationals has launched the Dutch Sustainable Growth Coalition (DSGC) to jointly drive and promote sustainable growth business models.

Over 300 global leaders attend inaugural Global Sustainability Summit
Madrid, 26 January 2012
The first annual Global Sustainability Summit has drawn to a close, with governments, businesses and academics agreeing that the development of any future economic models must be based around solid sustainable policy, if long-term growth is to be achieved.

Hospitality sector recovery likely to continue in 2012, despite ongoing global economic uncertainty 
New York and London, 23 January 2012
Hospitality market fundamentals look set to continue the recovery which started in 2011 in spite of continuing uncertainty and the prospect of further upheaval in the global and regional economies according to Ernst & Young's latest Global Hospitality Insights report published today.

Globalization continues to advance despite uncertain economic outlook
London And Davos, 23 January 2012
Despite faltering prospects for the world economy, globalization is still increasing among a majority of the world's 60 leading economies as they so far avoid descent into protectionism.

European buyout market defies Eurozone fears
London, 23 January 2012
The overall value of all European buyouts totaled €59b in 2011, a 6.5% increase from €55.3 billion in 2010, according to the latest data published by the Centre for Management Buyout Research (CMBOR), sponsored by Ernst & Young and Equistone Partners Europe (previously Barclays Private Equity).

Oil and Gas M&A in 2011– volume up, values down
London, 19 January 2012
1322 oil and gas transactions were announced in 2011, an increase of more than 5% when compared to 2010 proving that this remains one of the most resilient global sectors for mergers and acquisitions.

Resilient rapid-growth markets to fend off strain of Eurozone crisis
London, 19 January 2012
Slackening demand, turbulent and volatile markets and credit liquidity problems in Europe are beginning to squeeze rapid-growth markets (RGMs) but not to the extent of derailing robust economic performance.

Steelmaking over-capacity pressures profitability
London, 19 January 2012
Significant rationalization in the global steel sector is required if many operators are to remain profitable, according to Ernst & Young's Global Mining & Metals Leader Mike Elliott.

Ernst & Young tops 2011 European M&A league tables
London, 18 January 2012
This week the 2011 mergermarket European M&A league tables confirmed Ernst & Young as the number one provider of accountancy advice on M&A transactions across Europe during 2011.

Mark Weinberger elected next Global Chairman and CEO of Ernst & Young
London, 17 January 2012
Ernst & Young is delighted to announce that Mark Weinberger has today been named its next Global Chairman and CEO. Weinberger will succeed current Global Chairman and CEO Jim Turley, who announced recently that he will retire on 30 June 2013, having led Ernst & Young since 2001.

Ernst & Young a leader among financial management consulting services providers
London, 12 January 2012
Ernst & Young is pleased to announce that it is positioned in the Leaders Quadrant of Gartner's inaugural Magic Quadrant for Financial Management Consulting Services (FMC). The 2011 Magic Quadrant presents the vendor landscape for ten global consulting firms, where vendors are evaluated against the Gartner criteria of "ability to execute" and "completeness of vision."

Ernst & Young brings together global leaders from academia, business and politics for inaugural Global Sustainability Summit
London, 12 January 2012
Top policy makers, business leaders and academics from around the world are to convene at the first annual Global Sustainability Summit in Madrid on 19-20 January 2012 to discuss the key economic issues facing businesses today in regard to sustainability.

Global CFOs face tough balancing act investing across both developed and rapid-growth markets
London, 10 January 2012
Few CFOs think their company is effective at managing investments across markets with significantly different growth rates according to a new Ernst & Young report launched today.

Funding squeeze to continue for European financial services in 2012
London, 9 January 2012
Eurozone Financial Services forecast predicts that EU public finances could face €116b hole as a result of the Financial Transactions Tax.

Global automotive industry to experience modest growth in 2012
London, 6 January 2012
The key themes shaping the automotive industry over the next year are highlighted by Ernst & Young's 2012 global automotive outlook.