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  • EY - European biotech incentives need to ensure economic growth - EY - Global
    launch also coincides with the European Commission s release of its 2014 Innovation Scoreboard The Scoreboard shows Europe is at risk of becoming the world s research hub while innovative products processes and the jobs and growth associated with this development will instead go to competitor regions Despite an improvement in terms of closing the innovation divide with the rest of the world the Commission s Scoreboard indicates Europe still lags behind individual countries such as Japan South Korea and the US EuropaBio Chairman André Goig who welcomes the report s findings comments National governments need to do more to ensure that RDI in the European biotech sector is universally transformed into new businesses new products and additional jobs for both large scale companies and SMEs The report as well as the new biotech industry manifesto goes some way to outlining to policy officials exactly what needs to be done to make this happen The report provides a comprehensive study of the leading 17 European biotech countries comparing their advantages and disadvantages It also surveys nine comparable markets across North America Australasia and emerging regions It analyses the tax financial and regulatory incentives these individual jurisdictions provide to investors entrepreneurs manufacturers and researchers It also weighs the financial burdens for SMEs and which benefits are likely to flow from a decision to establish a research facility or start up in a particular market Key non EU global locations for biotechnology were also profiled on the increasingly important topic of RDI incentives The report identifies substantial variations in regulatory policy for biotechnology companies across different member states The differences range from basic policies and regulations which encourage financing for start ups to the ability to attract competent managers and entrepreneurs Some governments have already recognized the importance of policies and programs that foster a strong community of SMEs in biotechnology including RDI tax credits or low corporation tax while other governments have not yet capitalized on these incentives It also details that some governments have refined their regimes governing the treatment of license boxes so that tax on intellectual property rights can be reduced In today s market biotech entrepreneurs need to strive early on in the product development cycle to develop a suite of products not just a single one so that they can increase their chances of securing backing from an investor and creating a product which reaches the market The findings show that governments need to encourage SMEs to take steps which may help them one day to become large firms in their own right In addition to the appropriate amount of regulation and incentives what is needed is for governments to foster a climate of innovation and entrepreneurship Philip Robinson EY s Global Director of Indirect Tax comments Biotechnology remains a cornerstone of Europe s economic competitiveness in terms of research and innovation A consistent tax and regulatory environment for biotech corporations and SMEs across Europe is essential if the industry is to have sustainable economic growth

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/news-european-biotech-research-development-and-innovation (2016-02-10)
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  • EY - Global IPO market has strongest first quarter since 2011 - EY - Global
    were key drivers of IPOs in the first quarter accounting for 33 of global deal numbers with the US and EMEIA reporting 72 and 26 of sponsor backed IPOs respectively Maria adds We expect that PE will continue to seize the opportunity presented by the wide open IPO window to clear out aging investments from their portfolios realize gains for investors and lock in profits for reinvestment Mainland Chinese exchanges reopen With 103 IPOs raising US 16 9b Asia was the most active region in Q1 14 Asian exchanges accounted for 43 of global IPO activity by deal number and 38 of capital raised With the reopening of mainland China s stock exchanges delivering the predicted run of new listings and a pipeline of around 700 companies ready to go public Asia will continue to see a high number of IPOs says Maria Activity was led by 44 new listings in Mainland China which raised US 5 3b Investors will continue to have an abundance of investment options in Asia in terms of location sector of investment and type of fund raising instrument Seven of the quarter s 20 biggest IPOs were in Asia including the largest the US 3 1b listing of HK Electric Investments Ltd on HKEx in January while Japanese exchanges had three listings in the top 20 Shanghai exchange saw two listings and Bursa Malaysia saw one listing Solid US performance NYSE ranked first while NASDAQ ranked fifth by global capital raised by individual exchanges in Q1 14 together they raised US 11 6b in 68 deals In 2014 so far 72 of deals and 86 of proceeds raised in the US were backed by PE and or VC firms The combination of attractive valuations and solid after market performance means that like in Europe financial sponsors are actively pushing companies to list says Maria As companies seek to ride the momentum of US capital markets the US is also continuing to attract IPOs from around the world There were 11 foreign listings which raised U 1 9b in Q1 14 accounting for 16 of US IPOs number and deal value with even higher numbers of deals to come for the remainder of 2014 A number of billion plus deals such as Alibaba and JD com are also anticipated in the months to come In terms of sectors We think health care technology and energy companies will continue to drive deal activity through 2014 says Maria As confidence has grown US investors are more willing than ever to back disruptive innovative businesses that have a higher risk profile but offer significant longer term growth potential UK leads in EMEIA The EMEIA region saw 58 IPOs raising US 14 4b in Q1 14 an increase of 9 in deal number and 108 in the capital raised compared with Q1 13 The UK main market saw 8 IPOs which raised US 4 6b while the junior market AIM had 16 IPOs which raised US 2 0b together they

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-Global-IPO-market-has-strongest-first-quarter-since-2011 (2016-02-10)
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  • EY - Corporates underestimating costs of post-merger integration - EY - Global
    they are not spending enough on their integration budget Over a fifth of those surveyed stated that in retrospect they would have increased the size of their integration budget Of the respondents who had a budget of 10 of deal value 38 said they would have increased their budget by up to 5 in hindsight Meanwhile companies may also be underestimating staffing requirements with only 4 using 16 or more staff on their integration team and 46 using fewer than 10 people Max Habeck EY s Global Operational Transaction Services Leader says Whether the reasons for a deal were geographic growth diversification or market share companies need to strike the right balance between budget time and team size This is even more important as the right sequence of a transaction process is a mystery to many companies If the integration process is done well it can help businesses grow and succeed However if it s done badly it can result in significant loss of value Talent the phony war Just 21 of executives identified acquiring skills and talent as a factor for undertaking their last major transaction None of the respondents ranked it as the most important reason for a deal The low priority placed on bringing in key people through M A stands in contrast to the notion that in order to remain competitive and successful businesses need to win the war for talent Respondents see bringing in new talented staff as an added bonus of a deal rather than an underlying strategic driver Habeck comments Operating in a new market may require skills and local knowledge that the acquiring company lacks Companies may need to place more emphasis on the talent that they are acquiring and in particular put in place the resources to secure the commitment of individuals that are essential to the organization s future success Without the right skills in place a company could struggle to achieve its primary M A goals whether these are growth geographic expansion or R D Back office on the backburner Sales and marketing integration was the function identified by most executives as the key consideration for their last major deal with 29 saying it was their integration priority followed by operations 27 and R D 24 However back office functions such as finance 9 human resources 7 and information technology 6 were ranked in the bottom three positions Habeck says Executives are more interested in growth and less interested in cutting costs and synergies It is important however to recognize that organizations typically expect finance HR and IT to be integrated as a matter of course The successful integration of sales and marketing which is linked to upside growth is less certain and therefore more likely to be at the forefront of an executive s mind However a failure to integrate back office functions can make it impossible to achieve other integration goals Despite its operational importance IT ranks as the top integration priority for just a handful of

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-Corporates-underestimating-costs-of-post-merger-integration (2016-02-10)
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  • EY - Despite cautious optimism Eurozone to lag rest of the world - EY - Global
    the peripheral countries have surprised on the upside deflation and unemployment will remain ongoing concerns Mark Otty EY Area Managing Partner for Europe Middle East India and Africa comments Although the overall outlook remains patchy there is finally some more positive news to report in this forecast particularly in the peripheral countries in the Eurozone As their economies continue to rebalance and their labor forces become more competitive businesses from the rest of the Eurozone and other parts of the world could gain a competitive advantage by expanding or moving operations into these countries Divergence extending to core countries The forecast predicts a variable pace of recovery across different member states Divergence is nothing new but the divide is no longer simply between the core and peripheral countries Some of the peripheral countries that have implemented painful reforms in recent years notably Spain and Ireland are benefiting as world trade picks up EEF now expects Irish GDP growth of 1 8 this year while Spain is set to return to growth of 0 8 The fastest growth in the Eurozone is expected to be seen in the newest member Latvia which is projected to grow by over 4 followed by Estonia at 2 5 By contrast GDP growth in France is forecast at only 0 7 below the Eurozone average Other core countries including Belgium the Netherlands and Finland are also set to experience very subdued growth adding to concerns about their medium term prospects Deflation still a threat to growth Tom comments As a result of the ongoing deflationary threat the need for the ECB to be prepared to loosen monetary policy further remains high Latest inflation data show that the danger of deflation is very real and even assuming a steady recovery unfolds we expect inflation to remain well below the ECB s target for some time EEF forecasts Eurozone inflation of just 1 1 on average in 2014 with a modest uptick to 1 5 in 2015 But with an output gap estimated at around 4 of GDP in 2014 the risks to EEF s inflation projections are on the downside Deflation would increase the real value of the debt stock while at the same time depressing the tax revenues that service it As a result deleveraging would need to happen via further austerity and in a worst case scenario debt restructuring Upside risks One source of upside risk to growth is on the government side With less pressure from financial markets and the European Commission governments may allow some easing of fiscal targets particularly if accompanied by further reform efforts that improve longer term debt sustainability The possibility of higher spending could mean that the drag on growth from fiscal austerity will be lower than we currently expect In turn this would enable stronger private sector demand to emerge resulting in a virtuous circle As well as the possibility of less fiscal austerity than currently expected it seems likely that the Eurozone s monetary stance will

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News--Despite-cautious-optimism-Eurozone-to-lag-rest-of-the-world (2016-02-10)
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  • EY - Companies are missing opportunities to mine data to reduce risk - EY - Global
    mining tools The survey also finds that 87 of respondents indicate that regulatory requirements including anti corruption laws and recent enforcement trends are a driving force behind the design and use of FDA with almost half indicating that these regulatory developments are a top five factor Bribery and corruption is reported as the top perceived risk at 65 which aligns well with the finding that 74 report using FDA to combat bribery and corruption Other perceived significant fraud risk areas such as asset misappropriation and financial misstatement are also priority areas for FDA attention David Stulb EY s Global Leader of Fraud Investigation Dispute Services FIDS says With regulators and law enforcement agencies intensifying their cross border cooperation resulting in significant corporate fines and jail sentences for executives boards should encourage management to leverage forensic data analytics in their ongoing compliance efforts FDA enhances the risk assessment process and improves fraud detection A key benefit of FDA according to 89 of respondents is the ability to detect potential misconduct that we couldn t detect before The sentiment is shared by many respondents regardless of their function in the organization David Remnitz FIDS Global Forensic Technology Discovery Services Leader remarks Our survey findings suggest that while companies may be doing some forms of FDA many could be missing important opportunities to improve their anti fraud and anti bribery efforts By combining multiple data sources and leveraging advanced FDA tools companies are now able to gain new and important insights from their business data Missed opportunities to turn data into information Despite the overall positive sentiment regarding the effectiveness of FDA the research suggests that the vast majority of companies are not working with sufficient data volumes given the size of their corporate revenues Only 18 of internal audit professionals polled are working with data volumes in excess of one million records Among financial services respondents only 21 report working with data volumes nearing and over one million records which is still low for such a data intensive industry Overall 71 of companies with over US 1b in revenues are working with data sets under one million records The use of smaller than expected data volumes relative to corporate revenues raises the question that many companies may be missing important fraud prevention and detection opportunities by not mining larger datasets Advanced FDA tools like statistical analysis and data mining technologies are used by only 11 of respondents It is not surprising that the biggest challenge with respect to FDA is getting the right tools or expertise Building support within the company for more intensive FDA efforts appears to be a key priority for our respondents with 62 of those polled indicating the need to improve management s awareness of the benefits of FDA Interestingly cost does not appear to be a major obstacle with just 10 of interviewees indicating that FDA is prohibitively expensive Bigger data better insights Traditional spreadsheet and database applications can struggle with the increasing volumes velocities and varieties

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-Companies-are-missing-opportunities-to-mine-big-data (2016-02-10)
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  • EY - EY proud to be member of United Nations Global Compact - EY - Global
    Strategic Growth Markets How we 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 proud to be member of United Nations Global Compact Press release EY proud to be member of United Nations Global Compact London 11 March 2014 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY is proud of its membership of the United Nations Global Compact UNGC and today shares its communication of progress report for 2013 Our vision values and impact The report provides examples of how EY is upholding the UNGC principles of labor human rights environment and anti corruption and fulfilling its purpose of building a better working world Mark Weinberger EY Global Chairman and CEO says We know that building a better working world is an ambitious objective and we know that we can t do it on our own We also understand our obligation to look beyond our self interest and engage with our stakeholders investors clients regulators and other governmental bodies and not for profit organizations to collaborate to create positive change The report details how EY supports its people its client its profession and the marketplaces in which it operates Nicky Major EY Global Corporate Sustainability Leader adds As part of this commitment to building a better working world we are proud to be members of the United Nations Global Compact UNGC The 10 principles outlined by the UNGC align closely with our own purpose and values and we share a desire to build a sustainable and inclusive global economy that delivers lasting benefits to people communities and markets To read more on how EY is upholding the UNGC principles and to download the report visit www ey com UNGC Ends Notes to editors UN Global Compact The UN Global Compact is a strategic policy initiative for businesses that are committed to aligning their operations and strategies with ten universally accepted principles in the areas of human rights labour environment and anti corruption By doing so business as a primary driver of globalization can help ensure that markets commerce technology and finance advance in ways that benefit economies and societies everywhere As social political and economic challenges and opportunities whether occurring at home or in other regions affect business more than ever before many companies recognize the need to collaborate and partner with governments civil society labour and the United Nations This ever increasing understanding is reflected in the Global Compact s

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-EY-proud-to-be-member-of-United-Nations-Global-Compact (2016-02-10)
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  • EY - Strong Q4 drives growth for global venture capital investment - EY - Global
    and evolving global venture capital insights and trends 2014 Global VC investment in 2013 up 2 to US 48 5b Global number of deals up 0 2 to 5 753 Significant growth in VC activity in Europe Israel and Canada Continued US IPO activity points to further growth in 2014 Commenting on the research Bryan Pearce EY s Global VC Leader says Improving economic conditions and growing levels of liquidity combined with higher investor confidence and a more positive exit environment were the primary drivers underpinning solid global VC activity in 2013 Growth towards the end of 2013 in the US economy which accounts for 68 of global VC activity augurs well for 2014 as do the substantial rebounds in VC activity Key trends reveal a global venture funding ecosystem becoming more robust Start up entrepreneurs in particular are benefitting from additional sources of funding New technology has enabled crowdsourcing making it easier for seed and start up businesses to access projects debt and equity funding Angel and incubator investors are becoming more significant and better organized Since 2007 angel incubator participation at the startup stage in US businesses has quadrupled and in Europe it s risen over 500 Angels and incubators are a real bright spot in the funding ecosystem particularly in the US Europe Canada and India said Bryan Given their importance to entrepreneurs we really hope they will start to feature more strongly in Israel and China in 2014 The research also suggests that corporate investors are pioneering new ways to collaborate with fast growth businesses and with VCs And importantly governments in many countries are also taking the steps that encourage and enable much needed funding for their entrepreneurial businesses to thrive Exit environment buoyed by US IPOs in 2013 The exit environment in 2013 was mixed with the volume and value of exits by IPO both down on a global basis compared with 2012 yet with a substantial growth in US IPOs offset by a precipitous drop in Chinese IPOs due to the closure of their domestic stock exchanges M A exits for VC backed companies was flat or down in all markets except China where M A was the only exit option available other than a foreign listing However on a more positive note M A pre money valuations in many markets were at recent highs US The US continued to be the most active market for VC backed IPOs in 2013 the number of deals rose nearly 50 to 74 with biopharmaceuticals the leading sector for new listings in terms of both volume and value However the amount raised fell back by 27 to US 8 2b The open IPO window has created a strong tailwind for 2014 and we hope the improving economic picture will improve the number of M A exits said Jeff Grabow US EY s West Region VC Leader China The continued closure of China s domestic exchanges resulted in stronger Chinese companies listing on foreign exchanges and those

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News-Strong-Q4-drives-growth-for-global-VC-investment (2016-02-10)
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  • News- EY Women Athletes Business Network hosts webcast - EY - Global
    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 Women Athletes Business Network hosts webcast offering lessons and advice from female champions in sport and business Media advisory EY Women Athletes Business Network hosts webcast offering lessons and advice from female champions in sport and business London New York and Rio de Janeiro 6 March 2014 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share Global Roster of All Star Leaders include Martina Navratilova Summer Sanders Helena Morrissey Fabiola Molina and Kelly Holmes Webcast Overview Did you know that nine out of 10 women who are senior managers and executives played sports growing up The skills they honed on the playing field leadership perseverance discipline and grit are often the very same that propelled them to the top of their game in business In celebration of International Women s Day EY s Women Athletes Business Network WABN invites you to join a webcast with some of the greatest female champions of sport and business as they share their lessons of success and failure on the field and in the workplace including leadership qualities critical to success overcoming obstacles and adversity the greatest challenges women still face making mentorship work Speakers Martina Navratilova Tennis Legend and Author Summer Sanders Olympic Gold Medalist and Television Host Kelly Holmes Double Olympic Champion and Founder and Chair of the DKH Legacy Trust Helena Morrissey CEO of Newton Investment Management and founder of the 30 Club Fabiola Molina Brazilian Olympian and Co Founder and Co CEO Fabiola Molina Swimwear

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News--EY-Women-Athletes-Business-Network-hosts-webcast (2016-02-10)
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