Latest news with #RichardHouston
Zawya
07-07-2025
- Business
- Zawya
UK firms lose taste for US investment, Deloitte survey shows
The attractiveness of the United States as an investment destination has plunged in the eyes of British business executives who now see opportunities closer to home, a survey showed on Monday. Deloitte's survey of chief financial officers at major British firms showed a net balance of +2% of respondents saw the U.S. as an attractive place to invest, down from +59% in late 2024 - shortly before President Donald Trump took office. The report tallied with official U.S. data last month that showed inward foreign direct investment fell sharply in early 2025, a drop that coincided with high business uncertainty over Trump's tariff plans. By contrast, Deloitte said British company executives warmed to their own market, with the balance for the UK rising to +13% from -12% - ranking top with India for investment attractiveness. The U.S. remained more attractive than the rest of developed Europe or China, both of which had negative readings in Deloitte's survey. "These results reveal a shift in sentiment with the UK now viewed as a leading global investment destination," said Richard Houston, senior partner and chief executive of Deloitte UK. "This renewed confidence, coupled with a rise in risk appetite, is welcome and underscores the considerable investment potential the UK offers." In 2023, Britain was the fourth-biggest direct investor into the United States by ultimate beneficial owner, with a position of $636 billion, according to official US data. The Deloitte survey showed British executives reported an uptick in business confidence compared with the previous survey published in April. While still subdued, the optimism index ticked up to -11% from -14% in the previous quarter. British business surveys generally point to weak economic growth - a problem for finance minister Rachel Reeves, who is likely to raise taxes again at the next budget, according to market expectations. Deloitte polled 66 chief financial officers and executives between June 16 and June 29, including 37 listed companies with a combined market value of 386 billion pounds. (Reporting by Andy Bruce; Editing by Sharon Singleton)
Times
07-07-2025
- Business
- Times
UK is now a top investment destination, Deloitte survey reveals
The UK has overtaken the United States and Japan as a more attractive country to invest in, according to executives at some of Britain's biggest businesses. Despite volatile markets and concern about the public finances, business directors have turned more bullish on the UK as a country to invest in and have a bigger appetite for risk, according to Deloitte's latest survey of chief financial officers. The closely watched quarterly survey, which canvasses opinion from the finance chiefs of 61 of Britain's biggest companies, found that executives viewed the UK and India as the most attractive destination when it came to investment, with a net balance of 13 per cent of respondents describing Britain as very or somewhat attractive. • Deloitte cuts back on bonuses, pay and promotions Increasing fondness for the UK in the second quarter is a marked improvement from the end of last year, when finance bosses saw the United States, the Middle East, emerging Europe and Japan as better countries to invest in over Britain. 'These results reveal a shift in sentiment, with the UK now viewed as a leading global investment destination', Richard Houston, senior partner and chief executive of Deloitte UK, said. 'This renewed confidence, coupled with a rise in risk appetite, is welcome and underscores the considerable investment potential the UK offers.' A net balance of 17 per cent of finance chiefs said that now was a good time to take greater risk on to their balance sheets, compared with 12 per cent in the previous quarter, amid a 'slight tilt' away from 'defensive strategies' for the first time in a year as more companies looked at expanding via new markets and products. Despite the uptick in optimism, the survey, which took place between June 16 and June 29, found that for an eighth consecutive quarter geopolitical fears remained the top risk to finance bosses. However, the percentage of finance chiefs reporting that the level of external uncertainty facing their business was high or very high dipped to 44 per cent in the second quarter from 46 per cent in the previous quarter. Ian Stewart, chief economist at Deloitte UK, said the slight slip in levels of concern about geopolitical risk 'may reflect an easing of concerns around trade in light of the UK-US trade deal announced in early May.'
Reuters
06-07-2025
- Business
- Reuters
UK firms lose taste for US investment, Deloitte survey shows
July 7 (Reuters) - The attractiveness of the United States as an investment destination has plunged in the eyes of British business executives who now see opportunities closer to home, a survey showed on Monday. Deloitte's survey of chief financial officers at major British firms showed a net balance of +2% of respondents saw the U.S. as an attractive place to invest, down from +59% in late 2024 - shortly before President Donald Trump took office. The report tallied with official U.S. data last month that showed inward foreign direct investment fell sharply in early 2025, a drop that coincided with high business uncertainty over Trump's tariff plans. By contrast, Deloitte said British company executives warmed to their own market, with the balance for the UK rising to +13% from -12% - ranking top with India for investment attractiveness. The U.S. remained more attractive than the rest of developed Europe or China, both of which had negative readings in Deloitte's survey. "These results reveal a shift in sentiment with the UK now viewed as a leading global investment destination," said Richard Houston, senior partner and chief executive of Deloitte UK. "This renewed confidence, coupled with a rise in risk appetite, is welcome and underscores the considerable investment potential the UK offers." In 2023, Britain was the fourth-biggest direct investor into the United States by ultimate beneficial owner, with a position of $636 billion, according to official US data. The Deloitte survey showed British executives reported an uptick in business confidence compared with the previous survey published in April. While still subdued, the optimism index ticked up to -11% from -14% in the previous quarter. British business surveys generally point to weak economic growth - a problem for finance minister Rachel Reeves, who is likely to raise taxes again at the next budget, according to market expectations. Deloitte polled 66 chief financial officers and executives between June 16 and June 29, including 37 listed companies with a combined market value of 386 billion pounds.
Yahoo
06-07-2025
- Business
- Yahoo
UK firms lose taste for US investment, Deloitte survey shows
By Andy Bruce (Reuters) -The attractiveness of the United States as an investment destination has plunged in the eyes of British business executives who now see opportunities closer to home, a survey showed on Monday. Deloitte's survey of chief financial officers at major British firms showed a net balance of +2% of respondents saw the U.S. as an attractive place to invest, down from +59% in late 2024 - shortly before President Donald Trump took office. The report tallied with official U.S. data last month that showed inward foreign direct investment fell sharply in early 2025, a drop that coincided with high business uncertainty over Trump's tariff plans. By contrast, Deloitte said British company executives warmed to their own market, with the balance for the UK rising to +13% from -12% - ranking top with India for investment attractiveness. The U.S. remained more attractive than the rest of developed Europe or China, both of which had negative readings in Deloitte's survey. "These results reveal a shift in sentiment with the UK now viewed as a leading global investment destination," said Richard Houston, senior partner and chief executive of Deloitte UK. "This renewed confidence, coupled with a rise in risk appetite, is welcome and underscores the considerable investment potential the UK offers." In 2023, Britain was the fourth-biggest direct investor into the United States by ultimate beneficial owner, with a position of $636 billion, according to official US data. The Deloitte survey showed British executives reported an uptick in business confidence compared with the previous survey published in April. While still subdued, the optimism index ticked up to -11% from -14% in the previous quarter. British business surveys generally point to weak economic growth - a problem for finance minister Rachel Reeves, who is likely to raise taxes again at the next budget, according to market expectations. Deloitte polled 66 chief financial officers and executives between June 16 and June 29, including 37 listed companies with a combined market value of 386 billion pounds. Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
Deloitte to slash bonuses and scale back hiring as profits slump
Deloitte has warned staff that it will slash bonuses and scale back hiring in response to a slowdown in profits this year. The accountancy giant unveiled the cost-cutting plan in an email to UK staff on Tuesday, as bosses said they were responding to an underwhelming performance across its audit and consulting business. Richard Houston, senior partner at Deloitte's UK business, told staff that the firm's consulting arm had 'faced a particularly challenging year', which led to a 'worse-than-expected' performance. Staff in Deloitte's consulting business will see their bonuses cut by 20pc after the unit 'fell materially short of its performance goals,' Mr Houston's email said. He also confirmed that Deloitte will limit promotions to 5,500 this year, with the firm having previously handed out 6,800 promotions in 2024 and 7,000 the year prior. Deloitte's partners, who took away payouts worth more than £1m in 2024, will also see their pay affected. Mr Houston said: 'At the start of FY25, we expected greater economic stability and a gradual return of growth opportunities. But an early election, geopolitical complexity and unexpected economic headwinds – like changes in trade policies – have continued to cause market uncertainty.' In addition to slashing its consultants' bonuses, Deloitte's cost-saving measures will see the firm limit pay rises for all UK employees to 2.9pc in 2025, compared to the 5pc increases handed out last year. Mr Houston added that Deloitte's UK firm will be overhauling its bonus structure to pay out higher bonuses to employees in more profitable segments 'to reflect the variations in performance across our businesses'. Meanwhile, employees in Deloitte's tax and legal business will be paid full bonuses after a better-than-expected financial performance. The cuts come as other 'big four' accountancy firms have struggled to navigate a recent slump in activity post-Covid, which has led to layoffs across the industry. A Deloitte spokesman said: 'Amid ongoing market uncertainty, we are pleased to be able recognise our people for their hard work with salary increases, bonuses and promotions this year. 'This is alongside other benefits such as fully funded private medical insurance, recently enhanced family policies, and our commitment to offering flexibility and choice in our ways of working.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
