Bestyrelser mangler kompetencer til at tackle digital disruption: Ifølge UK survey mener 53 % af bestyrelsesmedlemmerne i engelske selskaber, at den største kompetencemangel i bestyrelsen er digitale kompetencer: “Fifty three percent of non-executive directors believe their boards lack the skills to tackle digital disruption, rating it as by far the most needed skill to improve board performance. This is according to the Harvey Nash Board Report, representing the views of almost 300 non-executive directors (NEDs) and chairs. Whilst initiatives such Lord Davies’ Women on Boards report are driving boardrooms to become increasingly gender diverse, they remain stubbornly lacking in ‘functional’ diversity. Almost half (45 percent) of board members come from a finance or corporate strategy background, but only four per cent have hands-on experience in digital or technology. “The political and economic climate has led to increasing focus on corporate reporting, compliance, risk and controls. So non-executive experts in these areas have been recruited. With increasing digitisation we need to spend more time considering the customer needs and innovation, as well as creating the right culture,” lyder vurderingen.
Engelske skattemyndigheder snydes for 160 mia. kr. årligt i selskabsskat: Revisonsundersøgelse har afdækket at den engelske stat årligt går glip af 16 mia. GBP især fra multinationale selskaber. Skattemyndighederne kritiseres for især at gå efter små erhvervsvirksomheder. Gad vide om billedet er det samme herhjemme? Guardian skriver : “Tax fraud is costing the government a “staggering” £16bn every year but HM Revenue & Customs is failing to clamp down on complex tax evasion and organised criminal activity, a report by the government’s independent auditors has found. The new figure, disclosed by HMRC, makes up almost half of the total £34bn “tax gap”, which is the difference between the revenue that should be collected each year and the amount actually received. In a report released on Thursday by the National Audit Office, tax investigators are criticised for focusing their efforts on easy, low-value prosecutions for evading income tax, VAT and tobacco duty. Tax officials should instead be chasing down multinationals involved in evasion and aggressive tax avoidance schemes, critics claim. Margaret Hodge, the chair of the all-party group on responsible taxation, said the report shows that small evaders are still being pursued at the expense of large firms.
Rekordmange M&A transaktioner i 2015, men kun gevinster til det opkøbte selskab: McKinsey har opgjort, at 2015 blev et nyt rekordår med hensyn til M&A transaktioner. For det opkøbende selskab har børsværdien efter opkøb i gennemsnit været negativ, men konsulenthusets analyse viser, at værdi-ændringerne efter opkøb i gennemsnit er neutral: ”But the big story in 2015 is around big deals. Megadeals—those valued at more than $10 billion—were up by nearly 130 percent by value year on year during the first 11 months of the year. Large deals, with a value between $5 billion and $10 billion, were up 24 percent, while small deals increased by about 10 percent. Announcement effects for acquirers in large deals, which went positive in 2013 for the first time in our records, dipped only slightly in 2015 as many investors continued to welcome announcements of large deals (Exhibit 2). Traditionally, such announcement effects have been a poor indicator of a deal’s eventual value. For instance, our analysis of past deals has found no correlation between share-price movement in the days after a deal is announced and a company’s excess total return to shareholders two years after a deal, when most synergies are captured.”
UK forslag om at splitte store banker op smuldrer: Fra Reuters : Britain’s banks will not be broken up or forced to ditch free banking services to improve competition in the industry, alleviating the fears of the country’s dominant lenders.The Competition and Markets Authority (CMA) instead recommended measures to make it easier for Britons to compare the full costs of accounts, telling banks on Thursday to provide clearer information. ”Today’s findings will probably be seen positively by the larger banks as the CMA have not found evidence of excessive profits, have steered clear of proposing an end to free banking and have not suggested further divestments,” said Simon Hunt, PwC’s UK banking and capital markets leader.”
Morten W. Langer