Weekly news video covers news, developments and management changes relating to the world’s largest accounting firms: Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC. This week covers Ernst & Young.
New York, NY (PRWEB) February 22, 2012
Each week Big4.com covers key news, events, happenings, opinions and blogs relating to all the Big Four accounting and consulting firms. The video can be viewed on the Big4.com website and on Big4.com's channel on Youtube.
Most Asian Oil & Gas deals in 2011 are outbound
Nearly half of the world’s growth over the next three years from rapid growth markets
Four advisors to Fraud Investigation & Dispute Services practice added
Cleantech investment steady at $4.9 billion
Australian financial institutions under FATCA pressure
U.S. IPO Confidence Returns for 2012
Ernst & Young: Most Asian Oil & Gas deals in 2011 are outbound
Asian countries and Australia showed momentum for outbound investments in their attempt to provide security of energy supplies in lieu of increasing domestic energy demand in 2011. Oilfield services sector transactions continued their momentum in this highly fragmented subsector, although the magnitude of deals was relatively smaller. Selective sovereign wealth funds and private equity remained focused on further building up their service portfolios.
However, 1,322 oil and gas transactions were announced in 2011 globally, an increase of more than 5% compared to 1,258 in 2010, proving that this remains one of the most resilient global sectors for mergers and acquisitions.
Ernst & Young: Nearly half of the world’s growth over the next three years from rapid growth markets
The most recent Rapid-Growth Markets Forecast (RGMF), shows those markets will continue to contribute nearly half of the world’s growth over the next three years. There are several noteworthy benchmarks here including the fact that rising trade links will continue to support foreign direct investment (FDI) from Asia and Latin America to Africa and other RGMs, an emerging Asia with rising middle class will lead the growth for all RGMs and demand in metal from China and other Asia-Pacific economies will push prices high
Ernst & Young: Four advisors to Fraud Investigation & Dispute Services practice added
Ernst and Young’s Fraud Investigation & Dispute Services (FIDS) practice was recently expanded to meet growing demand for, and bolster its depth in, eDiscovery and fact-finding services.
Last year, Ernst & Young began expanding its focus on the eDiscovery marketplace in the US with the acquisition of Cataphora Legal, a division of Cataphora, Inc., a leader in the management and interpretation of digital communications. As a result, Cataphora Legal’s senior leadership team, including Jonathan Nystrom, Executive Vice President in Washington, DC, and Richard Oehrle, Ph.D, Chief Linguist in San Jose, CA, joined Ernst & Young LLP’s FIDS practice as an Executive Director and Senior Manager, respectively. Seventeen additional members of the Cataphora Legal team also joined Ernst & Young LLP.
Ernst & Young: Cleantech investment steady at $4.9 billion
According to an Ernst & Young LLP analysis based on data from Dow Jones VentureSource, The Energy/Electricity Generation segment led Cleantech investment in 2011 with $1.5 billion raised through a total of 71 rounds, representing a 5% decrease in dollars invested from 2010. The Solar sub-segment received the lion’s share of capital in Q4 2011 with $284.5 million, accounting for 91% of the sector’s total investment of $312.9 million. The top Solar deal for this quarter was completed by Stion Corp., a San Jose-based a manufacturer of high-efficiency, thin-film solar panels, which raised $130.0 million.
Ernst & Young: Australian financial institutions under FATCA pressure
The draft Foreign Account Tax Compliance Act (FATCA) regulations by the US Treasury and IRS will add to the burden of a raft of other regulatory changes for Australian financial institutions.
According to Ernst & Young’s Oceania Banking and Capital Markets leader, Paul Siviour, financial institutions are left with little choice even though complying with the proposed regulations will require significant levels of investment in the face of stronger economic headwinds. Siviour said that to minimise the impact of the changes, Australian financial institutions should begin preparing now to ensure they are able meet the July 2013 compliance date.
Ernst & Young: U.S. IPO Confidence Returns for 2012
The end of 3Q boasted a U.S. IPO pipeline full and primed for companies to go public in 4Q. Now, due to recent gains in the stock market, both companies and investors are feeling more confident about IPOs according to Ernst & Young’s U.S. IPO Pipeline Analysis.
In 2011, BCM IPOs were almost nonexistent, except for the offerings of Imperial Holdings and private equity backed BankUnited. However, there was a large list of new registrants who are still on file as of 4Q. These registrants are mainly consumer finance and mortgage finance companies, such as Enova International, Nationstar Mortgage, Home Loan Servicing Solutions, and Ally Financial.
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Kristy Short
Big4.com
(734) 481-0186
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