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  • News - EY - India ranked as most attractive investment destination by global investors - EY - Global
    Partner says The survey findings are a testament to India s growing appeal with the global investment community Over the last year the improvement in India s macroeconomic indicators accompanied with the ongoing efforts to revitalize growth have offered new hope to investors It is an encouraging start and we need to build upon it further Speaking at the launch of the report Amitabh Kant Secretary Department of Industrial Policy and Promotion Ministry of Commerce and Industry Government of India says We are determined to make India an extremely easy and simple place to do business Our first priority is to do away with the many procedures and rules followed by bringing in consistency and clarity in all our policies and tax regime and developing a world class infrastructure Reforms drive FDI inflows Among specific reforms expected to drive growth 89 of the investors said that investment in infrastructure projects and the 100 Smart Cities project would be significant while both financial inclusion including Digital India and proposed corporate tax reduction from 30 to 25 were considered significant by 83 of the respondents Implementation of Goods and Services Tax GST and legislation on land acquisition were also mentioned by investors as important for attracting FDI Gaurav Taneja Partner and National Leader Government Public Sector EY India says With the pro reform government at the center the state governments in India have also embarked on adopting policies and processes to attract investments These include reforms in labor laws single window clearances online compliance and land availability which play a very significant role in investors choice of locations Importantly there is also a perceptible shift in attitude to one of welcoming investments Robust investor confidence is also reflected in FDI inflows with the 2015 India attractiveness survey citing a sharp turnaround The report highlights data from fDi Markets data indicating that in the first six months of 2015 India has become the top FDI destination with US 30 8b of FDI inflows moving up from the fifth position in the corresponding period last year Earlier during the calendar year 2014 India reversed a two year decline with FDI inflows of US 25b registering a 32 increase over the previous year In the same period the number of FDI projects rose 37 to reach 680 contrasting with a 3 decline worldwide Manufacturing leads investment plans More than three out of five respondents said they had plans to invest in India over the next year and 62 are looking at manufacturing both to serve the Indian and global markets from India Most of these respondents prefer to expand existing operations followed by expansion through acquisitions and if necessary by joint ventures and alliances Compared to the 2014 survey the number of respondents who believe that India will be among the world s leading top three destinations for manufacturing by 2020 has increased from 24 to 35 while those who believe India will evolve as a regional and global hub for operations is up from

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-india-ranked-as-most-attractive-investment-destination-by-global-investors (2016-02-10)
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  • News - Sport is a critical lever in advancing women at all levels, according to new EY/espnW report - EY - Global
    involvement has contributed to their own career success The annual wages of former athletes are on average about 7 higher than those of non athletes C Suite leaders Athletes figure prominently among the women who have broken through the glass ceiling 94 of women in the C suite played sports 52 at a university level Executive women are more likely to have played a sport and to hire other women who also played Among corporate leaders who have a background in sport DuPont Former CEO Ellen Kullman who played basketball HP CEO Meg Whitman a squash and lacrosse player and Mondelez International CEO Irene Rosenfeld a basketball player The evidence is clear Sports matter said Laura Gentile Vice President and Founder of espnW and a US Title IX scholarship recipient Participating in sports has a deep and definitive impact on the course of a woman s life and we can see from the research that sports help to provide women with the tools we need to succeed and lead The report also includes new findings from a Peterson Institute for International Economics study commissioned by EY that tracks women s athletic participation and success at the Summer Olympic Games between Rome 1960 and London 2012 the first year in the history of the modern Games that all countries competing included women in their delegations Among the findings Whether a female athlete participates in the Games or wins a medal is a complex product of a country s socio economic environment and factors are different from those that govern men s success in sports Women who had even slightly higher education and greater participation in the labor force won more medals in Olympic events This was the case even for modestly sized delegations from small or poor countries Factors such as better education more labor force participation good health and the percentage of the population that is urbanized lead to more medals for women in Olympic events Furthermore the Peterson study notes the effect of simply witnessing more women in the arena or on the pedestal cannot be ignored Women s success at the Games can lead to what the researchers call a virtuous cycle of enhanced perceptions of women which in turn can contribute to changes in public policy London 2012 marked a historic moment in the Olympic movement with women athletes participating from every nation that sent a delegation And now for the first time in Olympic history four members of the International Olympic Committee Executive Board are women said Donna de Varona an Olympic Champion and Lead Advisor for the EY Women Athletes Business Network These athletes and leaders are transforming the Olympic landscape which we now know has a positive ripple effect in society that is much broader The EY and espnW report concluded that increasing gender parity including women s participation in sport does not lend itself to simple solutions Yet there are four steps both business and political leaders can take to support the role

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-sport-is-a-critical-lever-in-advancing-women-at-all-levels-according-to-new-EY-espnw-report (2016-02-10)
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  • News - EY - Banks rethink risk management with a focus on front-office accountability - EY - Global
    risks and conduct risks among the front office desk heads and business line heads is the primary focus for most banks with 77 compared to 68 in 2014 listing it as their top initiative to strengthen risk culture The high cost of non financial risks which include regulatory conduct money laundering compliance systems and reputation among others has added pressure on banks Sixty nine percent of global systemically important banks G SIBs surveyed reported losses from non financial risks including regulatory fines and penalties of more than US 1b during the past three years Eighty nine percent of this year s survey respondents have placed an increased focus on non financial risks Patricia Jackson EY Head of Financial Regulatory Advice for EMEIA Financial Services says Banks are under considerable pressure from investors to improve return on equity and reduce costs The first wave of change we saw from banks in light of conduct losses was appointing thousands more compliance staff but the second wave has turned the spotlight on the risks intrinsic to different bank activities Having a strong firmwide risk culture is one of the key components of successful risk management Banks recognize this but both regulators and boards are demanding more robust governance structures and controls to improve risk behavior Making risk everyone s business from the top ranks to the front line staff is a significant shift in mindset and policies and requires long term commitment and investment Defined roles and responsibilities strengthens culture Clearly articulating to employees that bad behavior will be penalized and enforcing the rules of risk management are the two key elements of risk accountability throughout the organization Eighty five percent report that a breach in risk conduct is immediately elevated to the risk department an increase from 76 in 2014 while 69 report business line or desk leaders handle a breach Most banks report that severe breaches in risk policies result in disciplinary actions 94 yet less than half 44 say individual behavior is significantly reflected in career progression Banks shift focus to proactively managing non financial risks Fifty seven percent of banks are developing more forward looking risk assessments instead of waiting to conduct post risk event reviews Other proactive steps banks are taking include more detailed loss reporting and forensic investigations after an event has occurred 72 conducting in depth reviews of individual operational processes 70 and evaluating near miss events 64 Boards also are paying close attention to the impact of rising litigation costs steep fines and reputational damage as well as the pressures from investors to improve returns the survey finds Fifty seven percent of respondents list compliance risks as the top area of increased focus for boards over the past 12 months and 50 compared to 40 in 2014 report making changes to the board to increase risk expertise Basel III adds pressure to business models In addition banks are evaluating their business models to address investor demands for better return on equity which has come under

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-banks-rethink-risk-management-with-a-focus-on-front-office-accountability (2016-02-10)
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  • News - EY adds more analytics and big data capabilities through Bluestone Consulting acquisition - EY - Global
    releases PR contacts PR activities Analyst relations Fact and figures Share Acquisition to enhance cutting edge analytics capabilities across Europe Middle East India and Africa EY announces that its member firm based in France Ernst Young Advisory has acquired Bluestone Consulting a leading analytics and big data consultancy based in France This is the third acquisition that this member firm has made in France in the last two years and increases its number of data scientists in France to 130 more than any other firm in the country The move also is part of EY s continued investment in global analytics and big data capabilities Established in 1996 Bluestone Consulting provides data visualization and statistical engineering techniques and expertise to businesses operations in the marketing finance and risk domains With this acquisition EY firms will bring cutting edge analytics tools to clients across Europe the Middle East India and Africa EMEIA to transform complex business data into actionable insights and drive competitive advantage With the addition of Bluestone Consulting s people and assets EY can offer clients data analytics applications to uncover opportunities address challenges improve financial and business performance optimize production facilities and anticipate and manage risks EY will also be able to support public sector clients with health care system transformations smart city advancement and public policy development The new resources will also be used across wider EY Assurance Advisory Tax and law services practices providing best in class analytics Andrew Embury EY Advisory Leader EMEIA says The acquisition of Bluestone Consulting comes at a crucial time as today s organizations are becoming increasingly data driven and are looking to harness data and analytics to make better decisions and accelerate their business performance By combining our strengths EY will be in a stronger position to help our clients address their big complex business issues Today s acquisition follows others by EY firms in related areas including the acquisitions of C3 Business Solutions an advanced analytics firm in Australia Entegreat Inc a manufacturing intelligence consultancy with proven expertise in data analytics in North America and Europe and Seren a leading digital transformation consultancy in the UK Former Bluestone Consulting leaders Arnaud Laroche Xavier de Boissieu and Pierre Capelle have joined EY in France and will lead the new combined team along with EY s Karim Ben Djemiaa Laroche former Bluestone Consulting CEO says This deal is the result of a joint ambition to accelerate growth and improve business performance through world class analytics combining the effective application of data science with the international and multidisciplinary network of EY We ve spent the last 15 years developing unique tools tailored to our clients needs and by joining EY we have the opportunity to do this on a much bigger stage The acquisition closed on 1 October The terms of the deal were not disclosed Ends Notes to Editors About EY EY is a global leader in assurance tax transaction and advisory services The insights and quality services we deliver help

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-adds-more-analytics-and-big-data-capabilities-through-bluestone-consulting-acquisition (2016-02-10)
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  • News - EY - The global medtech industry struggles to sustain growth putting future innovation at risk - EY - Global
    the disparity between the haves and the have nots in the medtech sector has grown increasingly stark Even in this buoyant fundraising and deal making environment there remains a persistent gap in the type of early stage venture capital funding required to support an innovative medtech ecosystem This lack of funding is partially attributed to an increasingly uncertain reimbursement climate exacerbated by the repetitive nature of medtech innovation and the resulting pressure for companies to find new ways to demonstrate the value of their products Storm clouds emerge Over the 12 month period that ended 30 June 2015 the industry saw a climate that was far from uniform and presented many challenges Revenue and net income remain flat Revenue for public medtech companies in the US and Europe totaled US 341 8b in 2014 a modest 2 increase from the prior year Net income rose 4 to US 16 9b Venture funding falls Total venture funding from July 2014 to June 2015 totaled US 4 7b a drop of approximately 2 4 year on year For the fifth year in a row medtech s share of US venture dollars declined reaching a decade long low in 2014 of only 5 9 Early stage funding eroding During the 12 months to 30 June 2015 only 29 of venture investment went to companies raising their seed first or second rounds as opposed to 37 in the prior 12 month period Investment in early stage companies also dropped in absolute terms to less than US 1 3b from nearly US 1 6b in the prior period Innovation capital drops Despite a positive climate for IPOs innovation capital the money raised by companies with less than US 500m in annual revenue fell by nearly 12 to US 13b in the 12 months to 30 June 2015 Innovation capital s share of total funding in the sector dropped to a record low of less than 26 This was partly due to a spike in debt financing of US 40 8b which represented more than 80 of the total financing dollars raised in 2014 15 Reasons for optimism Despite these difficult finance obstacles the industry also delivered several strong and sometimes record breaking performances highlighting the opportunities that exist for innovative companies in the sector Smaller medtechs deliver strong performance US based medtechs with less than US 500m in annual revenues outperformed the broader medtech industry in 2014 15 delivering revenue and net income growth of 6 and 16 respectively Steady and healthy M A market While the most recent 12 month period saw fewer total M A deals than any of the previous four year periods average deal size for non megadeals deals worth less than US 10b reached a four year high Notably from July 2014 to June 2015 the medtech industry announced 16 deals worth at least US 1b New financing high driven by debt and IPOs Medtechs raised nearly US 50b between July 2014 and June 2015 the second largest total in

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-the-global-medtech-industry-struggles-to-sustain-growth-putting-future-innovation-at-risk (2016-02-10)
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  • News - EY statement in response to the OECD reports concerning the BEPS project - EY - Global
    help Entrepreneurship EY SGM Initial public offering Venture capital Family business services Transactions About Transaction Advisory Services Corporate Development Divestiture Advisory Services Lead Advisory Operational Transaction Services Restructuring Strategy Services Transaction Support Transaction Tax Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom EY statement in response to the Organization for Economic Co operation and Development OECD reports concerning the base erosion and profit shifting BEPS project EY statement in response to the Organization for Economic Co operation and Development OECD reports concerning the base erosion and profit shifting BEPS project London 5 October 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY releases a statement from its Global Vice Chair Tax Jay Nibbe in response to the OECD s announcement about the BEPS project The final reports released today relating to the G20 and OECD project on base erosion and profit shifting BEPS include recommendations for potentially dramatic changes in international tax laws and treaties Attention will now turn to the response by countries to these recommendations As the global focus on BEPS enters this next phase it is more important than ever for the OECD governments and the business community to work together constructively on implementation of the BEPS recommendations and on development of the infrastructure that will be needed for administration and compliance with respect to any new tax rules We believe that clarity in the new rules and consistency in application will

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-statement-in-response-to-the-oecd-reports-concerning-the-beps-project (2016-02-10)
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  • News - EY launches integrated people advisory services practice to better serve multibillion dollar people services market - EY - Global
    Valuation Business Modelling Specialty Services Climate Change and Sustainability Services CertifyPoint China Overseas Investment Network Family Business Services French Business Network Global Business Network Japan Business Services Careers Students The EY difference Your role here Your development Life at EY Joining EY Global Delivery Network Experienced Advisory Assurance Tax Transactions Industries The EY difference Your development Life at EY Joining EY Global Delivery Network Alumni Home Newsroom EY launches integrated People Advisory Services practice to better serve multibillion dollar people services market Press release EY launches integrated People Advisory Services practice to better serve multibillion dollar people services market London 1 October 2015 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share People Advisory Services PAS to combine experience from Tax and Advisory practices 10 000 EY practitioners to operate in 76 countries globally with a view to achieving US 3b in revenue by 2020 Chris Price appointed as Global PAS Leader EY today announces the launch of People Advisory Services PAS an integrated practice combining 10 000 practitioners from Tax and Advisory to deliver insight and innovation on people organizational and compliance issues As a leading global professional services organization EY understands the scale and complexity of how and where people work Through People Advisory Services it will offer enhanced end to end approaches to help solve organizations most pertinent people related business challenges Operating in 76 countries People Advisory Services aspires to double revenues to US 3b by 2020 as it grows its workforce and capabilities Chris Price former leader of EY s Financial Services business in the UK and the firm s Financial Services Tax business in EMEIA has been appointed Global PAS Leader Price says The market is experiencing significant developments and trends in workforce globalization organizational demographics technology innovation and increased

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-launches-integrated-people-advisory-services-practice-to-better-serve-multibillion-dollar-people-services-market (2016-02-10)
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  • News - EY - Eurozone enjoying a “sweet spot” in the second half of 2015 - EY - Global
    in 2016 boosting GDP growth from 1 6 this year to 1 8 in 2016 Consumer demand remains a key driver of the Eurozone recovery in H2 2015 Weakness in oil prices continues to provide a boost to household incomes while household views of labor market prospects are improving tentatively The EEF expects consumer spending growth of 1 7 in 2015 the strongest since 2007 However with energy prices recovering the pace of spending is expected to ease to 1 4 in 2016 and 1 3 on average in 2017 19 The systemic risks facing the Eurozone widespread fiscal crisis and deflation are fading while the recent agreement between the Eurozone and Greece suggests renewed appetite to compromise on both sides Tom Rogers Senior Economic Adviser to the EY Eurozone Economic Forecast says Internal and external factors have aligned for a stronger Eurozone recovery in 2015 16 The slowdown in emerging markets is a worry but is countered by strengthening export markets in the US and UK Meanwhile consumers are increasingly hopeful about their labor market prospects and with the worst of austerity over fiscal policy will drag less on growth Mark Otty EY Area Managing Partner for Europe Middle East India and Africa says After the summer s uncertainty the Eurozone is settling into slow but steady growth A stable overall recovery may have set in and this will mean on average and over time that conditions get better for everyone in the Eurozone However in the next few years unemployment will remain a major issue We expect the jobless rate to fall steadily as the recovery becomes more established but it will not fall below 10 until 2019 Businesses working in Europe should acclimatize themselves to this new normal of slow but steady growth across the Eurozone Weaker euro a welcome relief for Eurozone firms Eurozone exports posted the strongest year on year growth rate for four years in Q2 2015 benefiting from both the weaker euro and faster growth in the US and UK The EEF expects that exports will grow by 4 8 this year before easing to 4 in 2016 and then 3 6 in 2017 and 3 4 on average in 2017 19 as growth in the advanced economies slows In addition forecasts for export growth are subject to greater risk than they have been for some time in the light of mounting uncertainty about the slowdown in China and associated recent financial market turbulence Capital spending to play an increasing role in recovery As a result of firmer consumer and export demand profitability is improving for Eurozone firms with signs that this is feeding through to capital spending The EEF expects total capital investment to grow by 2 4 in 2016 significantly faster than this year before picking up further to 2 8 in 2017 and then averaging 2 6 in 2017 19 Fiscal restraint is here to stay With the Eurozone economy now in recovery mode more of the work in closing

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-eurozone-enjoying-a-sweet-spot-in-the-second-half-of-2015 (2016-02-10)
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