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  • Eurozone in recovery mode but gap between North and South still widening - EY - Global
    forecast also highlights that the recovery will continue to be constrained by deleveraging in both the public and private sector and the lack of affordable finance Both of these issues will have a larger impact on the periphery causing further divergence from the core countries in the Eurozone Marie Diron senior economic adviser to the EY Eurozone Forecast comments For the first time in eight forecasts we are predicting modest growth for the next quarter and the next year in the Eurozone However policymakers must not be lulled into complacency Differences in financing conditions and labor market developments across the continent remain stark The relative calm in the financial markets must also be used to accelerate restructuring particularly in the banking sector Mark Otty EY Area Managing Partner for Europe Middle East India and Africa comments The longest recession in Eurozone history came to an end in the second quarter and a slow recovery is now in prospect Corporate confidence has turned a corner but businesses must be nimble and embrace the changes that the new economic environment brings This cannot be a return to business as usual Growth to focus on domestic economy to entrench recovery A stronger recovery is expected in the second half of this year thanks to external factors including a pickup in economic activity in the US and encouraging signs in the UK both key trading partners These point to a robust uptick in Eurozone export demand The forecast shows growth in demand for Eurozone exports accelerating from 3 8 this year to 5 9 in 2014 and 6 6 in 2015 A substantial weakening of the euro which is estimated to currently be overvalued by 8 should also assist Eurozone exports Given the importance of exports to the recovery EEF expects manufacturing to enjoy a turnaround in fortunes as well as business services However the outlook is weaker for other sectors particularly those exposed to the consumer and government sectors Construction is also expected to perform poorly Marie comments While strong growth in world trade and a weakening euro will assist Eurozone exporters this alone will not be enough to sustain the recovery Recent disappointing performance of emerging markets highlights the risk of relying on an export driven recovery Therefore it is important for the domestic economy to gain momentum The chances of a stronger domestic recovery have certainly increased since the authorities softened their rhetoric on fiscal austerity Current plans imply that the pace of fiscal austerity is set to fall from 0 8 of GDP this year to around 0 5 of GDP in 2014 15 This will substantially reduce the drag on growth from austerity The domestic recovery will be impacted in the short term by rising unemployment particularly in the periphery This will offset some of the benefits from lower inflation limiting the boost to real household incomes and meaning that consumer spending is expected to grow by just 0 5 in 2014 and 1 1 in 2015 Recovery constrained

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_Eurozone-in-recovery-mode-but-gap-between-North-and-South-still-widening (2016-02-10)
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  • EY #1 professional services employer – and #2 overall – in World's Most Attractive Employer ranking - EY - Global
    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 1 professional services employer and 2 overall in World s Most Attractive Employer ranking Press release EY 1 professional services employer and 2 overall in World s Most Attractive Employer ranking London 17 September 2013 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY is the world s most attractive professional services employer and second most attractive employer overall in Universum s annual World s Most Attractive Employer ranking Based on the preferences of almost 94 000 business students from the world s top academic institutions in the largest 12 economies by GDP EY is now the second most attractive employer globally and the highest ranking choice among leading professional services organizations As well as ranking as the leading professional services organization in six out of the twelve markets EY also featured as one of the top fifteen employers overall in Australia Canada France Germany India Italy Russia United Kingdom and the United States We congratulate EY for its great achievement Being seen by students as an ideal employer is something to be celebrated As a CEO I understand the value in being able to attract recruit and retain the top performers EY excels in this area and thus has a competitive talent advantage said Petter Nylander CEO of Universum We are delighted and honored to feature as the world s most attractive professional services employer and second most attractive employer overall in the Universum ranking this year says Mark Weinberger EY s Global Chairman and CEO At EY we are committed to attracting developing and inspiring great people and developing future leaders this is fundamental to our purpose of building a better working world Mike Cullen EY s Global Managing Partner Talent adds I d like to congratulate all of our 170 000 people who have helped build our reputation as the world s most attractive professional services employer Our greatest asset is our high performing teams throughout the world and we are committed to continuing to develop and strengthen our employer brand by offering exceptional experiences for all our people 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 build trust and confidence in the capital markets and in economies the world over We develop outstanding leaders who team to deliver on our promises to all of our stakeholders In so doing we play a critical role in building a better working world for our people for our clients and for our communities EY refers to the global organization and may refer

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_EY-number-1-professional-services-employer (2016-02-10)
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  • EY announces the acquisition of Greenwich Consulting - EY - Global
    Private Client Services Law Tax Accounting Tax Performance Advisory Tax Policy and Controversy Transaction Tax VAT GST and Other Sales Taxes Transfer Pricing and Operating Model Effectiveness 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 announces the acquisition of Greenwich Consulting Press release EY announces the acquisition of Greenwich Consulting Paris and London 16 September 2013 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share EY is pleased to announce the acquisition of Greenwich Consulting a move that will consolidate its service range worldwide notably in growth strategy marketing digital and data analysis The 130 Greenwich Consulting employees 80 of whom are located in France will now be working with EY Advisory s teams 30 000 worldwide to strengthen EY s strategy customer and innovation capabilities in helping clients transform their businesses This acquisition is part of EY s global growth strategy Jean Pierre Letartre EY Chairman in France and EY CEO in in France North Africa and Luxemburg and Eric Mouchous head of EY Advisory in France North Africa and Luxemburg are both enthusiastic about this acquisition We re proud to be associated with one of the best French consulting success stories of the last 10 years The combined operation will mean we are better equipped to meet our clients expectations and able to offer some unique capabilities in innovation market growth and business transformation David Naim Greenwich Consulting CEO comments We re very happy to become part of one of consulting s world leaders and one that has maintained a very strong entrepreneurial culture This move derives from our shared corporate ambition to accelerate our clients growth especially through judicious exploitation of data and digital tools whilst being able to rely on EY s incredible pool of expertise and international network This new acquisition will further strengthen EY Advisory s position not only in France but also worldwide as a major player in providing performance improvement risk consulting and business transformation services Ends About Greenwich Consulting Created 12 years ago Greenwich Consulting has experienced 35 growth per annum and achieved a turnover of 25 million Euro in 2012 Greenwich Consulting specializes in strategy consulting and from its 7 offices in Europe North America Africa and the Middle East has developed unique skills in the fields of marketing distribution client relationships digital transformation data analysis and growth strategies About EY EY is a global leader in

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_EY-announces-the-acquisition-of-Greenwich-Consulting (2016-02-10)
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  • French student named EY Young Tax Professional of the Year 2013 - EY - Global
    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 French student named EY Young Tax Professional of the Year 2013 French student named EY Young Tax Professional of the Year 2013 30 August 2013 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share 30 August 2013 COPENHAGEN French student Mathieu Ferré has been named EY s Young Tax Professional of the Year 2013 at an awards ceremony held in Copenhagen Denmark Mathieu who is studying for a Master in Business Law at Université Toulouse 1 Capitole was picked from among 28 country finalists each of whom had already been named as the Young Tax Professional of the Year in their home country Second and third prizes respectively were awarded to Johannes Small South Africa Master of Commerce in Taxation at University of Pretoria Charishma Motwani India Bachelor of Commerce R A Podar College of Commerce and Economics Mumbai University Stephan Kuhn EY s Europe Middle East India and Africa s Tax Leader comments The Young Tax Professional of the Year Program is about finding the tax leaders of tomorrow Created to recognize and develop outstanding young talent this worldwide competition gives participants the chance to share experiences with people from a range of backgrounds and cultures Most importantly it is an opportunity to make long lasting connections with some of the sharpest minds in the tax world as well as leading figures from global organizations learning from them along the way and understanding what the challenges are for the profession It s a unique opportunity for today s brightest talents to get their career off to a remarkable start Winning student Mathieu says While this competition confirmed that technical knowledge is the starting point of the tax professional s journey it has also shown me that talented tax professionals need to expand and diversify their knowledge as well as intercultural skills You need to understand the economic reality business impact and management issues of the tax environment I now know that a career in tax also means a career in management The three award winners were presented with the following prizes First prize a 30 day round the world business trip featuring 10 working visits to key EY tax centers in London Washington DC and Hong Kong Second prize a 10 day visit to one of EY s tax centers Third prize an invitation to participate in an EY international client conference at which the winner will have the opportunity to meet some of our tax leaders and key clients Find out more about EY s Young Tax Professional of the Year Award 2012 by visiting us at www ey com ytpy ENDS Notes to

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/13-08-30---French-student-named-EY-Young-Tax-Professional-of-the-Year-2013 (2016-02-10)
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  • Renewable energy industry must adapt and innovate to fuel growth - EY - Global
    natural resources such as East Africa Asia Latin America to energize their portfolio Emerging markets stepping up large scale deployment to meet power demands Peru with its strong macro environment and investment climate has significant deployment potential while Brazil is currently experiencing an auction fever and a new regulatory framework could unlock around 21GW of demand for renewables In Asia safety concerns across South Korea s nuclear sector may create renewable energy opportunities although mixed signals from the new government have left energy policy at a crossroads The ongoing success of the South Africa Independent Power Producer SARIPP program has made it a key case study for the rollout of public private partnerships PPPs as means of setting tariffs while also driving price competition Reverse auctions have helped the South African Department of Energy procure over 2GW of its 2016 3 7GW target with further rounds underway Ben Warren EY Global Cleantech Transactions Leader comments In a world of constrained government balance sheets and a growing need to secure energy supplies PPPs are quickly becoming one of the most effective ways for policy makers to stimulate long term investment and sustainable renewable energy deployment Elsewhere in Africa healthy economic growth a rising population and huge base load energy potential from geothermal is making East Africa ripe for investment At a country level Kenya is targeting 8GW of additional renewables capacity by 2030 to meet an expected uplift in energy demand by 8 per annum while Uganda is aiming to generate 61 of total energy consumption from renewables by 2017 from just 4 in 2007 Tanzania forecasts power demand to increase almost 500 by 2031 requiring an investment of around US 8b Forer comments Significant investment by international finance institutions and state owned entities has sent a clear signal of the energy opportunities that exist in these emerging markets The need for both energy security and increased supply has created an investor appetite to make renewables the cornerstone of the energy mix of these economies Cross border agreements signal energy agenda can transcend national boundaries A number of global pacts and initiatives agreed in recent months have sent strong signals that the energy agenda can transcend national borders as well as overcome potentially harmful protectionist measures via amicable solutions July saw both the signing of a climate change pact between China and the US setting out a five point action plan and a solution that will replace the EU anti dumping tariffs on Chinese solar imports with minimum prices and quantity quotas Capital must be found in new places Adapting to austerity has prompted a rise in innovative funding solutions to identify new sources of capital Due to constrained balance sheets and a tight project finance market the sector has sought to raise capital through increased IPO activity recycling of project sponsor funds via strategic divestments and leveraging of capital markets This has been particularly prevalent within the biomass market where a lack of a free natural resource adds greater perceived

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_Renewable-energy-industry-must-adapt-and-innovate-to-fuel-growth (2016-02-10)
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  • Entrepreneurs call on G20 to stimulate job creation and growth - EY - Global
    of mechanisms and institutions that provide entrepreneurs with capital at every stage of growth alongside providing support and mentoring which is essential to enable entrepreneurs to use this capital effectively The US ranks highest overall for providing access to funding followed by UK and China with a varied mix of developed and emerging markets following in the subsequent ranking order While in the US only 15 of entrepreneurs report that it is very difficult to find funding in countries such as Italy and Argentina this figure is much higher at 45 and 40 respectively Access to early stage funding is starting to improve with the US Canada and Australia as well as Saudi Arabia and Indonesia performing well in providing funding for start ups Further innovation is required to broaden the early stage funding eco system This includes large corporates venturing sources of funding to boost their own innovation pipelines while supporting entrepreneurial business Companies would also benefit significantly from relief on indirect taxes which often serve as a fixed overhead expense Eighty three percent of entrepreneurs agree that an innovation focused tax incentive would improve entrepreneurship in their countries For example in Canada entrepreneurs can recover 50 of all their research and developments expenses regardless of profit or loss Pinelli says Given the scale of this problem in certain markets in particular governments have to be innovative Entrepreneurs are looking to their governments to incentivize new sources of funding whether it is unlocking bank lending to entrepreneurs providing public funds crowdsourcing or microfinance Being creative can be a demonstrable success nearly half of the entrepreneurs who are aware of crowd funding agree that it has improved their country Call to action for governments Alongside financial improvements there is a clear message from entrepreneurs from G20 nations for cultural change in order to remove the stigma of failure champion entrepreneurship promote united thinking in policy and business environments and co ordinate support across private public and voluntary sectors US entrepreneurs have a relatively low fear of failure In fact 43 of US entrepreneurs surveyed see business failure as a learning opportunity which compares to the G20 average of 23 Relatively low insolvency implications also support US entrepreneurs in trying new ventures In order to better understand the challenges ahead the report also advises governments to conduct a self assessment of their own entrepreneurial landscape to ensure that the correct funding strategies and policy levers are in place Schreiber concludes The message is clear governments entrepreneurs and corporates have to work together to spur growth across the G20 For governments there is a clear call to action to both improve financial and regulatory environments to better support entrepreneurship but also to do more to encourage an entrepreneurial culture As well as directly boosting access to funding public policy also needs to consider a more long term holistic approach to innovation and enterprise Ends The EY G20 Entrepreneurship Barometer overall results Click here to view the table For the EY guide to funding entrepreneurial businesses see page 17 of the G20 Entrepreneurship Barometer 2013 About EY EY is a global leader in assurance tax transaction and advisory services The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over We develop outstanding leaders who team to deliver on our promises to all of our stakeholders In so doing we play a critical role in building a better working world for our people for our clients and for our communities EY refers to the global organization and may refer to one or more of the member firms of Ernst Young Global Limited each of which is a separate legal entity Ernst Young Global Limited a UK company limited by guarantee does not provide services to clients For more information about our organization please visit ey com This news release has been issued by EYGM Limited a member of the global EY organization that also does not provide any services to clients Rankings and scores pillars Ranking Access to funding Score Entrepreneurship Culture Score Tax and regulation Score Education and training Score Coordinated support Score 1 United States 7 12 United States 7 67 Saudi Arabia 6 40 France 6 58 Russia 6 23 2 United Kingdom 6 86 South Korea 7 53 Canada 6 34 Australia 6 53 Mexico 5 89 3 China 6 75 Canada 7 45 South Korea 6 34 United States 6 50 Brazil 5 87 4 Canada 6 62 Japan 7 28 United Kingdom 6 19 South Korea 6 40 Indonesia 5 84 5 Australia 6 48 Australia 7 18 South Africa 6 10 EU 6 25 India 5 76 6 South Africa 5 95 United Kingdom 7 00 Japan 6 07 United Kingdom 5 98 China 5 75 7 Japan 5 81 Germany 6 88 Germany 5 84 Germany 5 89 Turkey 5 66 8 South Korea 5 75 EU 6 07 Australia 5 75 Argentina 5 85 South Africa 5 65 9 Brazil 5 67 France 5 68 Russia 5 65 Canada 5 81 Argentina 5 64 10 Indonesia 5 53 Russia 5 05 EU 5 48 Brazil 5 78 Germany 5 53 11 India 5 48 India 4 95 Turkey 5 45 South Africa 5 67 France 5 41 12 EU 5 41 Brazil 4 88 Indonesia 5 38 Saudi Arabia 5 66 Saudi Arabia 5 39 13 Saudi Arabia 5 25 Italy 4 67 United States 5 33 Italy 5 47 EU 5 37 14 Germany 5 23 South Africa 4 33 Mexico 5 21 Russia 5 46 South Korea 5 36 15 Russia 5 04 Turkey 4 30 France 5 12 Mexico 5 32 Australia 5 31 16 France 4 74 Argentina 4 06 China 5 07 Japan 4 72 Canada 5 29 17 Turkey 4 57 Mexico 3 96 Brazil 4 83 Turkey 4 39 United Kingdom 5 19 18 Mexico 4 42 China 3 88 Italy 4 76 China 4 35

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_Entrepreneurs-call-on-G20-to-stimulate-job-creation-and-growth (2016-02-10)
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  • Winner of Young Tax Professional of the Year Award 2013 to be announced at IFA Congress - EY - Global
    Professional of the Year Award 2013 to be announced at IFA Congress London 20 August 2013 Newsroom News releases PR contacts PR activities Analyst relations Fact and figures Share Austria Andreas Mitterlehner Vienna University of Economics and Business Belgium Annelies Renier Université Libre de Bruxelles Brazil Patricia Martinuzzo Universidade de São Paulo Denmark Steffen Strande Olsen Copenhagen Business School Egypt Sondos El Kady The American University in Cairo Finland Tuomas Kiviranta University of Helsinki and Aalto University School of Business France Mathieu Ferré Université Toulouse 1 Capitole Germany Jil Fritz Wirtschaftswissenschaftliche Fakultät Ingolstadt WFI Ingolstadt School of Management Hong Kong Yuhao Zhou The Hong Kong Polytechnic University Hungary Péter Barta Corvinus University Budapest India Charishma Motwani R A Podar College of Commerce and Economics Mumbai Italy Daiana Buono Federico II University Naples Kazakhstan Marzhan Surabaldinova KIMEP University Almaty Malaysia Joel Wong HELP University Kuala Lumpur Norway Daniel Nygaard Nyberg University of Oslo Poland Jędrzej Figurski University of Warsaw Portugal Raquel Sofia Zé Senhor Mesquita Catholic University of Lisbon Romania Mihalache Bogdan Academy of Economic Studies Bucharest Russia Karina Morozova Saint Petersburg State University of Economics South Africa Johannes Willem Small University of Pretoria Spain Beatriz De La Red Universidad de Navarra Madrid Sweden Eleonora Strandh Uppsala University Switzerland Valentin Schneebeli University of Zurich and University of Maastricht The Netherlands Janko Nikolić Leiden University Turkey Alaz Dağlar Keyvanklıoğlu Dokuz Eylül University and University of Reading Uganda Robert Mbaziira Makerere University Kampala Ukraine Borys Ulanenko Donetsk National University United Kingdom Natasha South University of Bristol The countdown has started with less than a week to go until the winner of EY s Young Tax Professional of the Year Award 2013 is announced at the 67 th International Fiscal Association IFA Congress in Copenhagen Denmark Stephan Kuhn EMEIA Tax Leader at EY comments 28 young finalists have been selected from more than thousand students from all over the world and challenged both on their technical tax abilities and wider commercial strengths This year s entrants represented more than 200 universities and we are extremely pleased that so many tertiary institutions in so many countries are supportive of this initiative The successful finalists will have the opportunity to work closely with a diverse range of tax professionals who will be assisting in preparing the candidates to meet with the final judging panel The finalists will be challenged over a four day period with international taxation case studies They will face interviews before expert judges who will be looking for evidence of creative and analytical strengths as well as practical skills inclusive leadership behavior and personality The judging panel will then confirm the three winners of the EY Young Tax Professional of the Year Award 2013 The panel includes leading members of governments and tax administrations distinguished professors tax directors of some of the world s largest multinational companies and partners from EY s Tax practice The three finalists for the Young Tax Professional of the Year Award 2013 will be announced at a prestigious

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_Winner-of-Young-Tax-Professional-of-the-Year-Award-2013-to-be-announced-at-IFA-Congress (2016-02-10)
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  • PE deal making soars while corporate activity slides for Q2 2013 technology M&A - EY - Global
    US 19 5b and at 570 deals corporate volume hit its lowest quarterly level since 2009 when every quarter had fewer deals Cross border CB deal volume declined 24 YOY to 195 deals and deal value fell 63 YOY to US 6 4b Yet the value of strategic technologies was on prominent display in Q2 2013 as innovation around the five megatrends mobile social cloud big data analytics and accelerated technology adaptation drove most of the top 10 deals for the quarter The report also notes many small deals around three emerging categories of megatrend enablers application programming interfaces APIs devops and mobile back end as a service MBaaS Joe Steger EY s Global Technology Industry Transaction Advisory Services Leader says Given the deal driving force of the five transformative technology megatrends of mobile social cloud big data analytics and accelerated technology adaptation it might seem surprising that global technology M A levels of activity aren t higher But there are a set of counterbalancing forces holding down the expected levels of activity These include macroeconomic and geopolitical uncertainty unresolved regulatory fiscal and tax issues and valuation gaps Collectively these forces may be causing M A to reset to lower levels of activity across all industries That said I expect the strength of the five megatrends to prevail in technology resulting in slow steady M A growth The report identifies the following key trends and deal drivers Megatrends marketing and security technologies drive big ticket deals innovation around strategic technologies drove many top 10 deals for the quarter especially around mobile social cloud and big data analytics technologies Also in Q2 2013 there was the highest value deal targeting advertising and marketing technology since 2007 and information security returned as a top 10 target for the first time since Q4 2011 Enabling trends emerge among the hundreds of small and non disclosed value deals EY saw a few megatrend enabler categories emerging such as application programming interfaces APIs devops and mobile back end as a service MBaaS PE skyrocketing PE s strength appears to come from a combination of factors some technology targets have been weakened by not keeping up with innovation from the five megatrends enabling activist shareholders to take positions in the stock favorable credit availability at low interest rates and the pursuit of value creation opportunities through operational improvements that corporate buyers may not see or may ignore in favor of deals that focus more on strategic technology opportunities Looking ahead Although big ticket deals drove Q2 2013 aggregate value to match last year s second quarter a 5 sequential decline in global technology transaction volume suggests that corporate technology buyers may want to do more deals but caution may be keeping many on the sidelines EY predicts gradual growth for technology M A volume and value for the rest of 2013 based on PE strength and that Q2 2013 volume is too low to sustain According to the report technology may be running counter to the

    Original URL path: http://www.ey.com/GL/en/Newsroom/News-releases/News_PE-deal-making-soars-while-corporate-activity-slides-for-Q2-2013-technology-MA (2016-02-10)
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