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The Latest Breaking News from EY

Impending UK recession could be twice as bad as anticipated, say analysts

Contrary to other recent economic analysis the business consultancy EY forecasts 0.7% drop in GDP this year

The Guardian - UK

Recession to be worse than previously thought, experts say

EY said that while the recession might cut deeper than it thought earlier, it will not necessarily last longer than the previous forecast.

The Independent UK

Britishvolt: how Britain’s bright battery future fell flat

Startup that hoped to transform UK car production was once valued at more than £800m, but collapsed worth a tiny fraction of that

The Guardian - UK

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$30m-plus on a transition to... what?

Questions are raised over fundamental work not done by the health transition unit

Newsroom.co.nz

Plans for £200m Britishvolt factory over as warehouse goes back on market

Prologis UK confirms it is on the hunt for new tenants for its Hams Hall site following collapse of manufacturer which would have created 150 new jobs in the West Midlands

Birmingham Post

Battery startup Britishvolt enters administration as rescue talks fail

Staff told majority of firm’s 300 employees would be immediately made redundant on Tuesday morning

The Guardian - UK

Hundreds of jobs go at electric car battery company Britishvolt as it falls into administration

It had been trying to raise the cash to keep going, but to no avail

Wales Online

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Hundreds to lose jobs as electric car battery maker Britishvolt collapses

The move comes as a blow for the UK’s ambitions to gain a foothold in the global EV battery market

Evening Standard

Survey: The US economy has a 64% chance of entering a recession this year

More likely than not, the U.S. economy will enter a recession this year, Bankrate’s Fourth-Quarter Economic Indicator poll found.

Tribune News Service

Wolseley acquires Glasgow-based Kooltech

Deal will see the company retain its name and sign a 10-year lease at its headquarters

Insider UK

Why the environmentalist critics of data centers are wrong

There is no path to lower carbon output that doesn’t depend heavily on adding more information technology to our infrastructure, writes EY's blockchain leader Paul Brody.

Fortune

EY to establish fintech research and technology hub in Bristol

The aim of the hub is to help "ramp up" capabilities in financial services design, data analytics and engineering

Birmingham Post

A 32-hour workweek with 40-hour pay? It's happening at some companies

Video game makers in Kentucky are cranking four days a week on a new title based on the classic slasher movie "The Texas Chainsaw Massacre."

Los Angeles Times

On The Breadline: Generosity of readers swells our appeal by £100,000 in four weeks

Donations take our total raised to more than £3.6 million

Evening Standard

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Fortune

Crypto is riddled with accounting scandals. Could the Big Four solve that?

Few crypto companies rely on the services of major accounting firms. Maybe that should change.

Insider UK

Scottish eco-packaging pioneer named country's top entrepreneur

EY awards name Glasgow-based businessman its 2022 UK Transformational Leader

Fortune

Companies are pouring millions into the metaverse workplace. Here's what you should know before joining them

There’s a place for the metaverse in return-to-office plans. Just don’t expect it to solve real-world workplace issues like harassment, racism, and sexism.

Fortune

90% of tech companies are prioritizing remote work for this reason

While the debate over working from home rages on, a recession may force employers' hands.

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Fortune

Tech’s latest gold rush is selling influencers the tools they need to influence you

Providing social media influencers with tech tools and services is a hot industry. Can it survive the cooling economy?

Axios

What are all those "chief metaverse officers" actually doing?

Metaverse execs are working on strategy, evangelizing and more.

The Conversation

Why businesses, banks and society still need more women in executive roles

Only nine in the UK’s top 100 companies have a woman CEO, a recent report has revealed – part of an “appalling” picture of British business which even in 2022 remains remarkably male dominated. The report, from accountancy giant EY and Cranfield University, goes on to reveal that only around…

Fortune

Here’s how to survive the VC winter, according to EY’s U.S. venture capital leader

Despite all the bad news, 2022 has been another record year for VC investment, according to EY's analysis.

The Independent UK

Bank surcharge slashed but ‘so-called cut’ means 1% tax rise for sector

Lloyds Banking Group and NatWest saw shares rise by about 1.5% after the Treasury confirmed that the tax on banks’ profits would be cut from April.

Wales Online

22 great Welsh start-up firms to watch

There are businesses featured from across Wales and a wide range of sectors

ABC News

'Isolated and traumatised' workers subject to racist slurs call for employers to do more to stamp out bullying and harassment

When a woman of Muslim faith in the public sector was asked by a colleague, "What are your cousins in the Taliban going to do next?" she was traumatised but decided to remain silent to avoid further discrimination. Here are just a few confronting examples of workplace racism allegations spanning…

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