The Loan Market Association (LMA) and The UK’s Association of Corporate Treasurers (ACT) have issued a joint statement to their members highlighting the possible impact on existing loan documentation arising as a result of the adoption of International Financial Reporting Standards (IFRS) within the European Union. As of January 2005, the consolidated financial statements for most publicly traded companies governed by the law of an EU member state must conform to IFRS, and the associations recommend that both borrowers and lenders examine the formulation of existing financial covenants and other clauses in facility agreements which rely on calculations derived from the obligor’s financial statements, and address the need for possible changes.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.