PwC Financial News

05.05 / 19:19

Action PwC Deloitte country Courts rights Investigations Big 4's dominance: Local companies call for level playing field

In recent Institute of Chartered Accountants of India (ICAI) investigations into the affiliates of multinational professional services firms EY, Deloitte, PwC, and KPMG, the firms have managed to get court stays against disciplinary proceedings by ICAI's disciplinary committee after years of investigation, their domestic rivals said. In a case against EY affiliate firms SV Ghatalia and SR Batliboi, which began in 2013, the ICAI disciplinary committee issued an order on April 26 that barred and fined the two partners and directed them to sever all associations with the global entity, EY Global. The partners in question had retired a few years prior.

13.04 / 00:57

markets Provident security PwC Trade information reports Quantum MF cries foul on ICICI Securities delisting, complains to Sebi

MUMBAI : In a rare instance of investor activism by an asset management company, Quantum Mutual Fund has written to the markets regulator objecting to the delisting of ICICI Securities Ltd on grounds of unfair valuation for the brokerage’s minority shareholders. The asset management company, in a letter to the Securities and Exchange Board of India (Sebi), also objected to employees of ICICI Bank Ltd allegedly reaching out to ICICI Securities shareholders urging them to vote in favour of the delisting, which sailed through despite opposition from some investors. ICICI Securities last month held a shareholder vote on the proposal to delist the company from the bourses and make it a 100% subsidiary of parent ICICI Bank.

03.04 / 06:43

markets Blockchain UPS Ethereum Digital PwC Bitcoin How far are we from paying taxes in cryptocurrencies in Europe?

Either you adapt or you die - that’s the sentiment across the globe when it comes to the adoption of digital assets, including cryptocurrencies, by traditional banks.

29.03 / 01:01

UPS Digital PwC Deloitte War reports EY to PwC, KPMG to Deloitte, consultancy firms are witnessing a war for talent

MUMBAI : Top consulting companies are poaching from rival firms for newer skills and experienced hands, even as they lose some of their own bright minds to competitors. At a time of rising opportunities in artificial intelligence to business transformation and risk to digital advisory, a number of global consulting bluechips in India have seen top partners switch jobs and take up new roles.

13.03 / 10:55

markets Digital PwC Diversity show exclusive reports Cybersecurity, tech skills key in India Inc's checklist for independent directors: Survey

tech, cybersecurity and risk is becoming a key attribute that companies are looking for in non-executive independent directors, as India Inc takes proactive steps to remain agile and prepare for any potential disruption, a survey has revealed. Independent directors with specialised knowledge contribute valuable insights, ask critical questions and also offer guidance on complex matters. Hence companies are expected to witness higher representation from such sectors in the next two years on their boards, according to the India Board Report 2023-24, brought out by executive search firm Hunt Partners, in association with law firm AZB & Partners and consulting firm PwC.

11.03 / 15:47

UPS CEO JPMorgan Fallout PwC Election reports Morning Coffee: What if Goldman Sachs, JPMorgan & Morgan Stanley chose CEOs like this? Private equity's pain

When chief executives are selected in investment banks, it tends to be a closed door affair. The outgoing leader chooses the next, and there is often some fallout. David Solomon's ascension at Goldman Sachs resulted in his unsuccessful opponent, Harvey Schwartz,joining Carlyle Group. Jamie Dimon's succession machinations at JPMorgan seem to have been partly responsible for Vis Raghavan's exit to Citigroup. Only Ted Pick at Morgan Stanley was chosen by James Gorman in a peculiarly bloodless baton-handing, although it remains to be seen whetherAndy Saperstein and Dan Simkowitz will stay long as number twos.

29.02 / 10:21

Citi Provident Sustainability PwC Metro reports Videos From ‘checking discounts to YouTube reviews', here's how Indians shop online

Online retailers must minimize wares being returned According to Somick Goswami, Partner, and Business Transformation Leader, PwC India, the next phase of growth in e-commerce will be driven by consumers from tier 2, 3, and 4 cities because “online shopping provides a gateway for more brand choices as compared to physical stores". Flipkart to start same-day delivery in several Indian cities soon The PwC also pointed out that online shoppers largely rely on YouTube while buying a product because of the platfrom's content that comprises unboxing videos, usage experience, etc.

29.02 / 07:15

UPS Williams Compilation PwC Deloitte reports testing audit Audit Deficiencies by Accounting Giants Grew in Latest Inspections, U.S. Regulator Says

Several U.S. accounting giants had greater deficiencies in their audits of public companies’ 2021 financial statements compared to the previous year, according to annual inspection reports released Wednesday by the Public Company Accounting Oversight Board. The regulator, which compiles its findings with a lag, inspected 215 audits conducted by the Big Four accounting firms in the U.S.—Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers—down from 220 a year earlier.

26.02 / 07:07

markets UPS PwC country reports International M&A deals in India drop 10% to 793 in 2023: PwC report

Disney, Reliance sign binding pact to merge media operations in India: Report "In 2023, India resiliently navigated global headwinds, solidifying its appeal to international investors. The economic fundamentals stay strong reflecting investors' enthusiasm for the country's expanding economic opportunities.

24.02 / 05:07

markets Manufacturing economy PwC track electronic reports India on track to surpass US as second-largest economy by 2040: Report

Emphasising an ecosystem approach for value chain resilience, the report highlights India's ascendancy in the global electronics market, particularly in mobile phones, consumer electronics, IT hardware, and electronic components, which account for over 70% of the nation’s domestic manufacturing output. Sanjeev Krishan, Chairperson, PwC in India said,As the global landscape evolves, India stands at a pivotal juncture to redefine its role in the global electronics supply chain. Through strategic collaboration, innovation, and conducive policy environment that focuses on inclusive growth, India can seize the immense opportunities ahead to become a resilient and competitive electronics manufacturing powerhouse."

21.02 / 00:29

Career CEO Assurant security PwC President Finra names new members to its board

Finra has named three seasoned industry veterans to join its board of governors.

19.02 / 08:07

markets Career Strategy PwC Deloitte students Schools IIM Calcutta completes final placements; 464 students get 529 offers from 194 companies

The consulting sector emerged as the top recruiter, with 167 students (31.6%) bagging offers, the institute said in a statement on Monday.

17.02 / 00:43

Provident Career Platform Strategy PwC cover Profiles Former Northwestern Mutual advisor launches own RIA

After more than a decade in the broker-dealer space, one advisor is making a break for independence by opening his own firm. David Eisenhauer has officially launched Greykasell Wealth Strategies Inc., an RIA that aims to address the complex financial needs of high-net-worth individuals, families, and business owners.

13.02 / 07:57

markets Reuters Williams Boeing PwC show country UK labour market cools again but BoE likely to remain on alert

By William Schomberg and Suban Abdulla

27.01 / 01:27

UPS Citizens PwC wellness Experts Department Schools Govt seeks ideas to push AI-driven e-governance

AI-backed face authentication across its offices and deepen penetration of e-services delivery to citizens, it is closely looking at how AI can be deployed in future models of e-governance with experts proposing a range of solutions from diagnosis of cataracts to crop diseases besides an Aadhar 2.0 and treating the family as a governance unit. The Department of Administrative Reforms and Public Grievances (DARPG) recently brainstormed with nearly 15 domain experts from EY to PwC to stay in step with sweeping technology shifts and plan future public service delivery models using AI.

22.01 / 06:01

UPS Strategy PwC Deloitte President NOT Consulting firms to roll out 100% bonus for year that was “good”, not the “best”

Arvind Laddha, president at Mercer India. “As a result of this, companies have had to rethink their talent strategy so they can attract and retain employees with these skills while also redesigning their organization to reflect new ways of working." Variable payouts are expected to be higher for executives at the Big Four—KPMG, PwC, EY, Deloitte.

21.01 / 17:53

UPS Digital PwC Experts country Schools Budget 2024: 175 big MNCs' units gear up for new global minimum taxes, review rules

As per a PwC study, around 175 arms of multinationals operating in India qualify for consideration under Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) 2.0 Pillar Two regulations.

16.01 / 04:09

UPS CEO economy PwC Nov show Schools More CEOs fear their companies won't survive 10 years as AI and climate challenges grow, survey says

companies will survive the coming decade without a major overhaul because of pressure from climate change and technology like artificial intelligence, according to a new survey of CEOs by one of the world's largest consulting firms, PwC. The survey of more than 4,700 CEOs worldwide was released Monday as business elites, political leaders and activists descended on the World Economic Forum's annual meeting in Davos, Switzerland, and it showed a mixed picture of the coming years.

15.01 / 18:37

markets Reuters CEO PwC show country reports CEOs fear for their firms in pre-Davos survey as AI, climate risks rise

By Divya Chowdhury and Anisha Sircar

15.01 / 18:19

UPS CEO economy PwC Nov show gatherings More CEOs fear their companies won't survive as AI and climate challenges grow

More executives are feeling better about the global economy

11.01 / 01:05

Provident Cooper security PwC Healthcare reports Proxy advisor against Aster DM Healthcare's gulf deal

Aster DM Healthcare's resolutions seeking shareholder approval for the $1 billion deal involving the sale of its business in the GCC (Gulf Cooperation Council) region to Alpha GCC Holdings, an entity partly held by promoters. Aster DM has proposed two resolutions — the sale of its GCC business to Alpha GCC, a related party transaction, and the sale of subsidiary Affinity Holdings to Alpha GCC. The e-voting, which began on December 24, will end on January 24. Aster DM Healthcare has put forth a proposal to segregate its India and GCC segments through the divestment of ownership in its subsidiary, Affinity Holdings, responsible for operations in the GCC region.

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