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New accounting proposal will record almost all leases on lessee’s balance sheets
London, 16 May 2013
Today, the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) (collectively the Boards) released a revised proposal that would bring significant changes to the accounting for leases.
Mining and metals M&A: confidence up but deals lag
London, 9 May 2013
Mining and metals companies are more confident in the global economic outlook than six months ago but remain cautious when it comes to pursuing acquisitions, according to Ernst & Young’s latest six-monthly Capital Confidence Barometer – Mining & Metals, released today.
Foreign investment in Turkey doubles in last five years
London and Istanbul, 8 May 2013
Foreign investors can see the long-term growth potential Turkey can offer according to Ernst & Young’s first Turkey Attractiveness Survey.
One in five employees aware of financial manipulation in their own company
London, 7 May 2013
Findings from Ernst & Young’s 2013 Europe, Middle East, India and Africa (EMEIA) Fraud Survey, Navigating today’s complex business risks, show that one in five employees surveyed are aware of financial manipulation in their own company in the last 12 months.
Oil and gas transaction appetite down slightly as confidence in economic outlook grows
London, 7 May 2013
The bi-annual Oil & Gas Global Capital Confidence Barometer released today highlights that nearly half (44%) of the 152 oil and gas company executives surveyed believe the global economic situation is improving, up from 27% in October 2012.
Africa's share of global FDI increases over the last five years
London and Johannesburg, 6 May 2013
Africa’s share of global foreign direct investment (FDI) has grown over the past five years highlighting the growing interest from foreign investors, according to Ernst & Young’s third Africa Attractiveness Survey, released today.
His Royal Highness the Prince of Asturias to preside over inaugural session of Global Sustainability Summit 2013
London, 6 May 2013
His Royal Highness the Prince of Asturias is to attend the Second Global Sustainability Summit, organized by Ernst & Young and the Ibero-American Secretariat General (SEGIB) on 6th and 7th May in Madrid.
Multinationals failing to adopt transformative payroll techniques to compete and expand in the global marketplace
London, 30 April 2013
The majority of multinationals (85%) want improvement in their current payroll practices, yet they are skeptical about whether payroll providers can deliver a comprehensive global solution.
A long road ahead for women leaders in the G20
London, 29 April 2013
With one billion women expected to join the workforce over the next decade, women are rightly seen by many commentators as the next big emerging market.
By 2030 two-thirds of global middle class will be in Asia-Pacific
London, 25 April 2013
By 2030, two-thirds of the global middle class will be residents of the Asia-Pacific region, while Europe’s share of this population will have dropped by 14% according to Ernst & Young’s Hitting the sweet spot report, released today.
Biotech industry has “implementation gap” around demonstrating the value of products under development
Chicago, 23 April 2013
The global biotechnology industry continued on a path of recovery in 2012 as public companies in the sector achieved top- and bottom-line growth for the third straight year even while R&D spending remained under pressure at many companies.
Global executives say M&A’s will rise, yet only a moderate increase in acquisitions planned
London, 22 April 2013
A major rebound in confidence in the global economy among large corporates is not yet translating into expected capital investment and M&A activity, according to Ernst & Young’s eighth bi-annual Capital confidence barometer, based on a survey this month of 1,600 senior executives in 50 countries.
Weak global outlook forcing rapid-growth markets to trade with each other
London, 18 April 2013
Loose monetary policy and quantitative easing intended to stimulate growth in developed markets, has prompted exchange rate swings that in turn could affect export competitiveness in rapid-growth markets (RGMs) according to Ernst & Young’s quarterly Rapid-Growth Markets Forecast (RGMF) released today.
Utility companies facing ever increasing regulatory burden, look to rapid growth markets to mitigate risk
London, 18 April 2013
The traditional business model of utility companies is under threat, with a new approach needed to ensure future success according to Business Pulse: Exploring the dual perspectives of the top 10 risks and opportunities in 2013 and beyond, a new report launched today by Ernst & Young.
Ernst & Young welcomes the International Integrated Reporting Council’s efforts and consideration of next steps with the issuance of the Draft Framework
London, 17 April 2013
Ernst & Young welcomes the issuance yesterday of the International Integrated Reporting Council’s (IIRC) Consultation Draft of the International Reporting (IR) Framework as the next step in the development of integrated reporting.
Oil prices under pressure from slow growth
London, 17 April 2013
The latest Ernst & Young Global Oil & Gas quarterly outlook released today highlights that the uncertainty over oil demand combined with some strong non-OPEC supply growth is putting downward pressure on oil prices, which could impact investment decisions in the short-term.
Could Europe be next major destination for investors in non-performing loans?
New York, 15 April 2013
Although the US non-performing loan (NPL) market remained active in 2012 and the focus of many global investors, according to Flocking to Europe: Ernst & Young 2013 non-performing loan report, Europe is emerging as an NPL market in its own right, with an estimated €1 trillion of NPLs now on the balance sheets of the region’s banks.
Indirect tax systems becoming more efficient, but tax authorities increasing focus on compliance and enforcement
London, 10 April 2013
The economic crisis has led to more countries than ever before to rely on indirect taxes as a sustainable method to rebalance their budgets and stimulate growth, according to a new Ernst & Young report, Indirect Tax in 2013: With change comes complexity.
Ernst & Young opens new office in South Sudan
London, 9 April 2013
Ernst & Young, a global leader in assurance, tax, transaction and advisory services, has announced the opening of its new offices in Juba, South Sudan.
Ernst & Young announces new member firm in Myanmar
Hong Kong, 9 April 2013
Leading professional services organization, Ernst & Young, today announced the opening of a new member firm in Myanmar.
Global Venture Capital funds may turn the corner in 2013
London, 4 April 2013
Widespread economic uncertainty and a tough exit environment saw venture capital (VC) investment fall 20% to $US41.5b and the number of rounds decline 8% to 4,970 in 2012, according to Ernst & Young’s Tenth annual venture capital insights and trends report.
Cyprus has been challenging but the Eurozone financial services industry still on track to start to turn the corner
London, 2 April 2013
The Cypriot debt crisis is a timely reminder that the problems in the Eurozone are not over and that economic recovery for the region is on a fragile, uneven trajectory, but the Eurozone Financial Services Forecast predicts that, while localized problems can’t be ruled out, the collective pain for the financial services sector in the Eurozone is almost over.
Q1 13 European PE buyout
London, 1 April 2013
The overall value of European buyouts totaled €11.1b in Q1 2013, a 17% decrease from €13.3b in Q4 2012 and 21% below the value for the same period last year (€14.1b), according to the latest data published by the Centre for Management Buyout Research at Imperial College (CMBOR), sponsored by Ernst & Young and Equistone Partners Europe.
Stronger global markets and macroeconomic conditions drive an improved IPO outlook for 2013
London, 20 March 2013
Global IPO activity is up 1% by capital raised and down 42% by deal volume so far in Q1’13 (118 IPOs, raising US$18.2b in proceeds), compared to Q1 2012 (204 IPOs raising US$18.0b in proceeds) according to Ernst & Young’s Global IPO update.
Diverse new supply of LNG could challenge pricing status quo
London and Houston, 19 March 2013
A new report released today by Ernst & Young, looks at the evolving market dynamics for global LNG.
A fragile return to confidence in the eurozone
Frankfurt, 14 March 2013
With the risk of an imminent eurozone breakup now reduced, economic growth is expected to resume from mid-2013.
Global corporates question the stability of their core banking teams
London, 13 March 2013
Despite 63% of corporate executives stating that they are highly satisfied with the service they get from their core banking partners, corporate customers are questioning banks’ ability to meet expectations on 11 of 16 key performance criteria.
Impairment proposals will likely result in earlier recognition of credit losses and may increase credit loss provisions
London, 7 March 2013
The International Accounting Standards Board (IASB) today issued a proposal as part of its IFRS 9 financial instruments project that would require entities to apply an expected credit loss model on their loans, debt securities, trade receivables, lease receivables, loan commitments and financial guarantee contracts.
Report reveals key priorities on the global automotive C-suite agenda
London, 4 March 2013
Five strategic themes will dominate automotive companies’ performance and capital agenda in 2013 and must be addressed for success, according to Changing lanes: the automotive C-suite’s agenda for 2013-14, a new report by Ernst & Young’s Global Automotive Center.
Pricing pressure and cost cutting: top risks for business in 2013
London, 27 February 2013
As the global economic outlook remains uncertain, companies have shifted their thinking away from waiting for an upturn and are concentrating on optimizing their business by cutting costs and increasing efficiency, according to a report released today by Ernst & Young.
Policy-makers deploy new tactics to create green growth globally
London, 26 February 2013
As governments seek to better manage their fiscal budgets, by taking control of their future renewable energy purchases, capacity auctions are becoming an increasingly preferred policy mechanism according to Ernst & Young's latest quarterly global Renewable energy country attractiveness indices report, released today.
Global telecoms operators risk losing investors' confidence unless they overhaul their performance metrics
London and Barcelona, 26 February 2013
The fast-changing changing nature of the telecommunications sector is driving the need for substantive changes in the ways operators measure and report their operational and financial performance according to Metrics transformation in telecommunications, a new report by Ernst & Young to coincide with the World Mobile Congress.
Ernst & Young launches annual 2013 Young Tax Professional of the Year Award
London, 20 February 2013
Ernst & Young is delighted to announce the launch of its third consecutive international competition “Young Tax Professional of the Year.”
Institutional investors feeling positive about 2013 IPO market
London, 19 February 2013
A new Ernst & Young survey shows that institutional investors are increasingly positive about the IPO market. According to the more than 300 institutional investors surveyed in December, a vast majority - 82% - have invested in pre-IPO and IPO stocks in 2012 compared to only 18% in either 2010 or 2011.
State-backed and financial investors to drive 2013 mining deals
London, 18 February 2013
Mining and metals M&A is expected to pick up in 2013, following a slow and patchy year for deals in 2012, according to Ernst & Young.
54% of entrepreneurs to increase their workforce in 2013
London, 14 February 2013
According to our latest report, Global job creation, a survey of the worlds most dynamic entrepreneurs, more than half of the 600 plus entrepreneurs surveyed said they expect to increase their workforce in 2013—with the numbers showing remarkable similarity in all areas of the world (Americas; Asia-Pacific; and Europe, Middle East, India and Africa).
Global technology M&A value declines 35% in 2012 but only 4% in fourth quarter
London, 12 February 2013
The aggregate value of technology mergers and acquisitions declined 35% worldwide in 2012, to US$114.1b from US$175.7b in 2011, according to Ernst & Young's Global technology M&A update: October- December 2012 and year in review.
Ernst & Young cited as a leader with "exceptional strategy" in information security consulting services
London, 11 February 2013
Ernst & Young has been cited as a "leader" by Forrester Research, Inc. for information security consulting services in the February, 2013 report, "The Forrester Wave™: Information Security Consulting Services, Q1 2013".
Ernst & Young recognized for its sustainability services within global brands survey
London, 7 February 2013
Seventy-six percent of sustainability leaders have reported that they have information on Ernst & Young’s global sustainability consulting capabilities, representing the highest brand awareness of the nine global professional services firms in the Global sustainability leaders survey: brands, by the independent analyst firm Verdantix.
Ernst & Young Germany acquires J&M Management Consulting AG
Stuttgart, 6 February 2013
The professional services firm Ernst & Young GmBH Wirtschaftsprüfungsgesellschaft (Ernst & Young Germany) has announced the acquisition of Mannheim-based J&M Management Consulting AG, an international consultancy specializing in supply chain management and the optimization of supply chains and operational processes.
Mark Beischel appointed to lead Global Consumer Products at Ernst & Young
London, 31 January 2013
Ernst & Young has announced the appointment of Mark Beischel as the new Global Sector Leader for Consumer Products.
Increase in trade and demand for commodities boost rapid-growth markets
London, 31 January 2013
An increase in intra-regional trade, easing of monetary and fiscal policy, and higher demand for commodities will lead to an improvement in the economic outlook for the rapid-growth markets (RGMs) in 2013, according to Ernst & Young's quarterly Rapid-Growth Markets Forecast (RGMF) released today.
The Mittelstand is feeling nervous as serious concerns remain on the future of the Eurozone
Stuttgart, Germany, 30 January 2013
Despite recent indications of improved economic stability in the Eurozone the German Mittelstand increasingly feels the negative effects of the crisis in Southern Europe: 45% of the German Mittelstand or small to medium size enterprises (SMEs) are reporting declining revenues because of the Eurocrisis, compared to 30% in August 2012.
Robust outlook for 2013 power and utility deals after a decline in 2012
London, 30 January 2013
Mergers and acquisitions (M&A) values within the power and utility (P&U) sector during 2012 declined by 16.8% (US$120.4b, compared with US$144.7b in 2011), according to Ernst & Young's quarterly Power Transactions and Trends report, released today.
Record year for global oil and gas transactions in 2012
London, 24 January 2013
According to Ernst & Young's Global oil and gas transactions review, oil and gas transactions recorded a staggering US$402b in 2012, representing a 19% increase compared to 2011 (US$337b).
Early access to financial data from acquisition targets critical for greater transparency and investor confidence in post-deal reporting
London, 21 January 2013
Companies undergoing acquisitions need to provide the right financial information as early as possible to their acquirer during the M&A process to avoid problems occurring with integrating finance and accounting integration according to a new report by Ernst & Young, Aligned for growth – Reporting on post-deal success.
Better times on horizon for steelmakers who survive 2013
Sydney, 21 January 2013
Steelmakers will need to focus on restoring and maintaining value to survive 2013 and position for growth in the future, according to a new Ernst & Young report, Global steel: A new world, a new strategy.
BRICs face competition as globalization creates new emerging players
London and Davos, 21 January 2013
Despite weak growth in 2012 and an uncertain economic outlook in many markets for 2013, globalization is still increasing among a majority of the world's 60 leading economies according to the Ernst & Young's annual globalization report, Looking beyond the obvious: globalization and new opportunities for growth.
Access to funding the biggest hindrance for oil and gas investments in 2013
London, 18 January 2013
The Ernst & Young Global Oil & Gas quarterly outlook shows that many of the factors that shaped the corporate agenda in 2012 will continue into 2013.
Short-term "fast cash" more of a priority for sellers than longer term strategic priorities
London, 16 January 2013
Nearly 50% of divestments in the past two years were driven by a need for a quick cash injection rather than to achieve a longer term strategic objective, according to a new report from Ernst & Young.
New Year boost for Europe's real estate markets
London, 15 January 2013
Across Europe, confidence among real investors has risen as they look forward to the next 12 months according to Ernst & Young's Real Estate Investments Indicator 2013 out today.
Ernst & Young launches Africa Global Tax Desk in Beijing
London, 14 January 2013
Ernst & Young today announced the launch of its Africa Global Tax Desk in Beijing.
Big pharma under pressure for M&A to close US$100b growth gap
San Francisco, CA, 7 January 2013
Top pharmaceutical companies are facing a widening "growth gap" that will increase pressure to drive growth through M&A.
Bad loans and regulation will squeeze Eurozone banks in 2013
London, 7 January 2013
While the economic forecast for the Eurozone in 2013 shows painful progress towards stability, Eurozone banks and insurers will face another difficult year.