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Carillion
Carillion plc was a British multinational construction and facilities management services company headquartered in Wolverhampton in the United Kingdom, prior to its liquidation in January 2018. Carillion was created in July 1999, following a demerger from Tarmac. It grew through a series of acquisitions to become the second largest construction company in the United Kingdom, was listed on the London Stock Exchange, and in 2016 had some 43,000 employees (18,257 of them in the United Kingdom). Concerns about Carillion's debt situation were raised in 2015, and after the company experienced financial difficulties in 2017, it went into compulsory liquidation on 15 January 2018, the most drastic procedure in UK insolvency law, with liabilities of almost £7 billion. In the United Kingdom, the insolvency caused project shutdowns and delays in the UK and overseas (PFI projects in Ireland were suspended, while four of Carillion's Canadian businesses sought legal bankruptcy protection ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
KPMG
KPMG is a multinational professional services network, based in London, United Kingdom. As one of the Big Four accounting firms, along with Ernst & Young (EY), Deloitte, and PwC. KPMG is a network of firms in 145 countries with 275,288 employees, affiliated with KPMG International Limited, a private English company limited by guarantee. The name "KPMG" stands for "Klynveld Peat Marwick Goerdeler". The initialism was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in 1987. KPMG has three lines of services: financial audit, tax, and advisory. Its tax and advisory services are further divided into various service groups. In the 21st century, various parts of the firm's global network of affiliates have been involved in regulatory actions as well as lawsuits. History Early years and mergers In 1816, Robert Fletcher started working as an accountant and in 1839 the firm he worked for changed its name to Robert Fletcher & Co. William Barclay Peat join ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Howson
Richard John Howson (born August 1968) is a British businessman, and the former chief executive (CEO) of Carillion, a British multinational facilities management and construction services company that went into liquidation in January 2018. Howson's "misguided self-assurance" was said to have contributed to the company's collapse. In October 2023, Howson was disqualified from being a director of a UK company for eight years for his conduct as a director of Carillion. Early life Howson was educated at Settle College, and earned a bachelor's degree in construction management from Leeds Polytechnic. Career Early career Howson worked at Balfour Beatty, Bovis, and Tarmac before becoming operations director for the Carillion Building business in 1999. In March 2004 he was promoted to national construction director on the Carillion Building senior management team, before becoming managing director of Carillion Rail in 2006, and then managing director of Carillion's Middle East and N ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philip Nevill Green
Philip Nevill Green CBE (born 12 May 1953) is a British business executive. He was chairman of Carillion from May 2014 until Carillion entered compulsory liquidation in January 2018. Green was chairman of BakerCorp from June 2011 until December 2017. Early life Philip Green was born on 12 May 1953 in Walsall, Staffordshire. He graduated from University College of Swansea and completed an MBA at London Business School. Career From 1977 to 1980, Green was vice-president, marketing of Crayonne (USA). From 1980 to 1985, he was managing director of the home furnishing division of the Coloroll group, becoming group development director in 1985, and then managing director from 1989 to 1990. In 1994, as a trustee of the Coloroll group's pension fund, he was found guilty of a breach of trust and of maladministration of the scheme by the Pensions Ombudsman. By this time, he was working for DHL, firstly as regional director for Northern Europe (1990–1994), and then as chief operat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keith Cochrane
Keith Robertson Cochrane (born 11 February 1965) is a Scottish businessman and former chief executive (CEO) of Weir Group, Stagecoach Group and Carillion, Carillion plc (interim). In March 2019, he was appointed CEO of Schenck Process. Early life Born in Edinburgh, Cochrane was educated at Dunblane High School, Perthshire, and studied accountancy at Glasgow University. He qualified as a chartered accountant with Arthur Andersen. Career Cochrane was Group Finance Director of Stagecoach Group plc from 1996, becoming Group Chief Executive in 2000. He then joined ScottishPower plc in 2003 as Director of Group Financial Reporting, and from 2005 was Group Director of Finance. Cochrane became Honorary Treasurer of the Royal Scottish National Orchestra in September 2008. On 2 November 2009 Cochrane became Group Chief Executive of Weir Group plc, having joined Weir as Group Finance Director in July 2006. He resigned as a director of Weir Group on 30 September 2016. Cochrane said that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Reporting Council
The Financial Reporting Council (FRC) is an independent regulator in the UK and Ireland based in London Wall in the City of London, responsible for regulating auditors, accountants and actuaries, and setting the UK's Corporate Governance and Stewardship Codes. The FRC seeks to promote transparency and integrity in business by aiming its work at investors and others who rely on company reports, audits and high-quality risk management. In December 2018, an independent review of the FRC, led by Sir John Kingman, recommended its replacement by a new Audit, Reporting and Governance Authority, a recommendation that the government agreed to follow in March 2019 but later delayed. Ireland adopted the FRC's auditing framework in 2017. Structure The FRC is a company limited by guarantee, and is funded by the audit profession, who are required to contribute under the provisions of the Companies Act 2006 and by other groups subject to, or benefitting from FRC regulation. Its board of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Pensions Regulator
The Pensions Regulator (TPR) is a non-departmental public body In the United Kingdom, non-departmental public body (NDPB) is a classification applied by the Cabinet Office, Treasury, the Scottish Government, and the Northern Ireland Executive to public sector organisations that have a role in the process o ... which regulates work-based pension schemes in the United Kingdom. Created under the Pensions Act 2004, the regulator replaced the Occupational Pensions Regulatory Authority (OPRA) from 6 April 2005 and has wider powers and a new proactive and risk-based approach to regulation. The Occupational Pensions Regulatory Authority was established by the Pensions Act 1995 and came into full operation on 6 April 1997. It replaced the Occupational Pensions Board as the regulator of occupational pensions in the UK. The Pensions Regulator has a clear set of objectives: * to protect members’ benefits * to reduce the risk of calls on the Pension Protection Fund (PPF) * to prom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Four Accounting Firms
The Big Four are the four largest professional services networks in the world: Deloitte, Ernst & Young, EY, KPMG, and PwC. They are the four largest global accounting networks as measured by revenue. The four are often grouped because they are comparable in size relative to the rest of the market, both in terms of revenue and workforce; they are considered equal in their ability to provide a wide scope of professional services to their clients; and, among those looking to start a career in professional services, particularly accounting, they are considered equally attractive networks to work in, because of the frequency with which these firms engage with Fortune 500, ''Fortune'' 500 companies. The Big Four all offer audit, assurance services, assurance, taxation, management consulting, Valuation (finance), valuation, market research, actuarial, corporate finance, and legal services to their clients. A significant majority of the audits of Public company, public companies, as w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tarmac Group
Tarmac Group Limited was a British building materials company headquartered in Wolverhampton, United Kingdom. It produced road surface, road surfacing and heavy building materials including Construction aggregate, aggregates, concrete, cement and lime (material), lime, as well as operating as a road construction and road#Maintenance, maintenance subcontractor. The company was formerly listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index. The company was founded in 1903 by Edgar Purnell Hooley two years after he patented the road surfacing material Tarmacadam, tarmac. The company grew quickly, first being Listing (finance), listed on the Birmingham Stock Exchange in 1913 and on the London Stock Exchange in 1922. Despite intense competition and other challenging factors, Tarmac expanded both geographically and in its range of services, particularly as a consequence of intense demands of the Second World War. By 1953, Tarmac was processing over two ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Finance Initiative
The private finance initiative (PFI) was a United Kingdom government procurement policy aimed at creating "public–private partnerships" (PPPs) where private firms are contracted to complete and manage public projects. Initially launched in 1992 by Prime Minister John Major, and expanded considerably by the Blair government, PFI is part of the wider programme of privatisation and macroeconomic public policy, and presented as a means for increasing accountability and efficiency for public spending. PFI is controversial in the UK. In 2003, the National Audit Office felt that it provided good value for money overall; according to critics, PFI has been used simply to place a great amount of debt "off-balance-sheet". In 2011, the parliamentary Treasury Select Committee recommended: In October 2018, the Chancellor Philip Hammond announced that the UK government would no longer use PFI for new infrastructure projects; however, PFI projects would continue to operate for some time ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wolverhampton
Wolverhampton ( ) is a city and metropolitan borough in the West Midlands (county), West Midlands of England. Located around 12 miles (20 km) north of Birmingham, it forms the northwestern part of the West Midlands conurbation, with the towns of Walsall to the east and Dudley to the south. The population in 2021 was 263,700, making it the third largest city in the West Midlands after Birmingham and Coventry. Historic counties of England, Historically in Staffordshire, Wolverhampton grew as a market town specialising in the wool trade. During the Industrial Revolution, it became a major centre for coal mining, steel production, lock making, and automotive manufacturing; the economy of the city is still based on engineering, including a large aerospace industry, as well as the Tertiary sector of the economy, service sector. The city is also home to the University of Wolverhampton. A town for most of its history, it gained city status in the United Kingdom, city status in 2000. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Limited Company
A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and Republic of Ireland, Ireland. It is a limited liability company whose shares may be freely sold and traded to the public (although a PLC may also be privately held, often by another PLC), with a minimum share capital of £50,000 and usually with the letters PLC after its name. Similar companies in the United States are called Public company, ''publicly traded companies''. A PLC can be either an unlisted or listed company on the stock exchanges. In the United Kingdom, a public limited company usually must include the words "public limited company" or the abbreviation "PLC" or "plc" at the end and as part of the legal company name. Welsh companies may instead choose to end their names with , an abbreviation for '. However, some public limited companies (mostly nationalization, nationalised concer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pensions In The United Kingdom
Pensions in the United Kingdom, whereby United Kingdom tax payers have some of their wages deducted to save for retirement, can be categorised into three major divisions – state, occupational and personal pensions. The state pension is based on years worked, with a full 35-year work history yielding a pension of £203.85 per week. It is linked to the Consumer Prices Index (CPI) rate. Most employees are also enrolled by their employers in either defined contribution or defined benefit pensions which supplement this basic state-provided pension. It's also possible to have a Self-invested personal pension (SIPP). Historically, the "Old Age Pension" was introduced in 1909 in the United Kingdom (which included all of Ireland at that time). Following the passage of the ''Old Age Pensions Act 1908'' a pension of 5/— per week (£, equivalent, using the Consumer Price Index, to £ in ), or 7/6 per week (£, equivalent to £/week in ) for a married couple, was payable to persons with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
