Deloitte & Touche announced a record 21% growth in fee income today, overshadowing the double-digit growth revealed by Andersen Worldwide and Ernst & Young over the last week, writes Alex Miller. Deloittes' UK fee income leapt from £563m last year to £684m for the 12 months to 30 September. Senior partner and CEO, John Connolly, said: 'We have performed strongly throughout the firm and have taken advantage of very good market conditions for our services.' Meanwhile, Ernst & Young posted UK fee income growth of 13% from £633m to £713m for the year to 25 June. The average profit generated by partners at the firm increased by 17% on last year to £359,000. Andersen Worldwide tried to put aside the dispute between Arthur Andersen and Andersen Consulting as it also revealed revenues for the year to August grew by 17% over the previous 12 months to a record global figure of $16.3bn (£10.1bn). Consulting recorded revenues of $9bn, up 16% on the previous year while Arthur Andersen posted revenues of $7.3bn, a rise of 19%. The results came as the battle between the two intensified after it was revealed Worldwide had filed a $14.6bn counterclaim against Consulting, which is trying to leave the umbrella organisation. The counter-claim reiterated that if Consulting wants to leave the parent, it must return its brand name, plus the technology it uses to run its business. Previously, the parent had filed an unspecified claim amount, which accountants had expected to be in the region of $10bn. But Consulting officials said they were not obligated to pay anything because the agreements state a break-up fee is only required if the consultants were quitting the firm, which they say they are not doing.
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