2009 news releases

17 December 2009
Gold maintains its strong showing in 2009: PwC survey
Even the recession could not keep the price of gold from maintaining its strong showing in 2009, holding a value over US$1,000 since early October. According to the annual PricewaterhouseCoopers (PwC) Gold Price Survey, the year saw an average upwards of US$959 with prices ranging between US$812 and peaking at over US$1,200 in early December.

11 December 2009
PricewaterhouseCoopers Commemorates International Anti-Corruption Day
US Secretary of State Hillary Clinton opens PwC-sponsored Transparency International Anti-corruption Day Symposium

8 December 2009
$232 Billion Personalized Medicine Market to Grow 11 Percent Annually, says PricewaterhouseCoopers
PricewaterhouseCoopers projects that the market for a more personalized approach to health and wellness will grow to as much as $452 billion by 2015. Its estimates are based on a broad view of the market opportunity beyond drugs and devices to also include demand for high-tech storage and data-sharing as well as low-tech products and services aimed at consumers' heightened awareness of their own health risks

Aggregate Q3 09 losses of $632 million for Canadian forest and paper companies
Canadian forest and paper companies continued to face challenging business conditions in the third quarter of 2009 with sluggish demand and pricing for commodity products. Pulp prices gained upward momentum during the quarter but closed below prior year levels

1 December 2009
Pharmaceutical and life sciences companies face rising tax rates
The global financial crisis, government pressure, changing market dynamics for an industry experiencing significant change and rapidly evolving healthcare reforms are likely to drive up the effective tax rate for the pharmaceutical and life sciences industry, according to a report by PricewaterhouseCoopers (PwC) entitled Pharma 2020: Taxing times ahead - Which path will you take?.

24 November 2009
PricewaterhouseCoopers LLP announces acquisition of 90-strong consulting business
PricewaterhouseCoopers LLP (PwC) is pleased to announce the acquisition of corporate performance management business Paragon Consulting Group. The group will become part of PwC Advisory’s consulting business with immediate effect

20 November 2009
Tax reform remains on the agenda of governments despite economic downturn
Despite the economic downturn, government focus around the world has remained on tax reform, concludes a new report released today by the World Bank Group and PricewaterhouseCoopers. The report, Paying Taxes, finds that 45 economies made it easier to pay taxes, almost 25 percent more than in the previous year.

Brazil setting the world’s stage for auto industry, says PricewaterhouseCoopers
After spending more than a decade adjusting to ambitious automotive capacity investments and working to stabilise national economic fundamentals, Brazil may be preparing to embrace its long-awaited moment in the global spotlight.

19 November 2009
Economic pressures drive steep increase in business fraud
Already beset by the global recession, nearly one in three organisations around the world reported they were the victims of economic crime during the past 12 months. Of those, 43 per cent said that the incidences of fraud in their organisations had increased during the period, according to PricewaterhouseCoopers' Global Economic Crime Survey 2009.

17 November 2009
Small is the name of the game in aerospace and defence sector deals, says PricewaterhouseCoopers LLP
The global economic crisis continues to severely constrain global aerospace and defence deal activity, as the total value of deals with disclosed values of at least $50 million continued to decline on a year-on-year basis for the first three quarters of 2009, according to the PricewaterhouseCoopers LLP report, Mission control: Third-quarter 2009 global aerospace and defence industry mergers and acquisitions analysis.

12 November 2009
Governments likely to retain stakes in financial institutions for 5-7 years, according to PricewaterhouseCoopers LLP
A report released today by PricewaterhouseCoopers LLP, ‘Back to the future,’ expects that Governments around the world that have intervened to support Financial Institutions in response to the global financial crisis will need to prepare for long term involvement and ownership.

Business leaders remain cautious but are hopeful and open to change in the post-crisis economy reveals APEC-PricewaterhouseCoopers survey
This message of cautious optimism resonates from over 350 business leaders in the APEC region, based on a joint survey by PricewaterhouseCoopers and the APEC CEO Summit 2009 organising committee.

10 November 2009
PricewaterhouseCoopers ranked as global leader in crisis and recovery consulting, according to Kennedy Information report
Kennedy Information has placed PricewaterhouseCoopers as the clear market leader in the Global Crisis and Recovery Consulting market in the Kennedy Information Global Crisis and Recovery Consulting Marketplace 2009-2012 report. The report reflects Kennedy Information’s analysis of the global crisis and recovery consulting marketplace, estimated to grow by 40% from $5.4 billion in 2008 to $7.5 billion in 2009.

Industrial manufacturing deal activity showed improvement, chemicals and metals segments showed mixed results, in third quarter 2009, finds PricewaterhouseCoopers
The pace of mergers and acquisitions in the industrial manufacturing sector experienced increases in both deal volume and value during the third quarter of 2009 compared to the prior quarter, according to a series of quarterly M&A reports released today by PricewaterhouseCoopers LLP.

6 November 2009
PricewaterhouseCoopers named "Top Company For Working Families" by DiversityInc

5 November 2009
Nearly two-thirds of Indian CEOs "very confident" of growth in next 12 months, 34 percent say recovery now underway or will start by year's end

28 October 2009
New global leader for PricewaterhouseCoopers communications practice
PricewaterhouseCoopers (PwC) has appointed Colin Brereton as the new leader of its Global Communications Industry Group. Colin, a senior partner at PwC, has nearly 20 years experience of working with clients in the technology and telecoms sectors.

28 October 2009
PricewaterhouseCoopers is the world’s second most attractive employer for business students, says Universum
This is the first global index of employer attractiveness by employer branding company Universum, which highlights the world’s most powerful employer brands – those companies that excel in talent attraction and retention.

26 October 2009
China leaping ahead Europe in auto industry thanks to government stimulus says PricewaterhouseCoopers
China's remarkable advancement in a downturn has prompted an upward revision of PwC's AUTOFACTS global assemby topline.

6 October 2009
PricewaterhouseCoopers posts FY2009 global revenues of US$26.2 billion
PricewaterhousehouseCoopers disclosed that total gross revenues from operations for its worldwide network of member firms rose marginally at constant exchange rates for the fiscal year ended 30 June 2009, a resilient performance in consistently tough economic circumstances.

25 September 2009
Asia represents the best growth prospects for retailers and consumer-products companies
For retail and consumer-products companies, most of Asia continues to present growth opportunities, albeit at a slower rate in the short term, according to a new PricewaterhouseCoopers report, Glimmers amid the gloom

1 September 2009
Canada' forest and paper sector losses slowed in Q2 2009: PricewaterhouseCoopers
According to the PricewaterhouseCoopers quarterly net earning review, weak commodity prices and low demand throughout most of the period resulted in aggregated second quarter losses of C$660 million for the 15 countries surveyed.

27 July 2009
Growth in personalized medicine to drive alliances between diagnostic and pharmaceutical industries
The growth of personalized medicine is expected to increase the number of alliances between diagnostic and pharmaceutical business according to a new PricewaterhouseCoopers report - Diagnositcs 2009: Moving towards personalized medicine.

27 July 2009
The future's electric for auto industry but barriers may short circuit the sparks, says PricewaterhouseCoopers
The depth and speed at which electric vehicles will be able to penetrate the market will rely on several factors, but there remains little doubt that this technology will have a significant impact on the automotive industry moving forward.

16 June 2009
No place to hide from the digital revolution
Over the next five years, digital technologies will become increasingly widespread across all segments of entertainment and media according to the PricewaterhouseCoopers Global Entertainment and Media Outlook 2009-2013.

16 June 2009
PricewaterhouseCoopers firms complete acquisitions of BearingPoint assets in North America and Japan
With the completion of the transaction, PwC's U.S. Advisory practice assumed selected contracts of BearingPoint and brought on 800 client service professionals with significant business and consulting expertise across multiple industries.

12 June 2009
Revenues under pressure and operating costs continue eroding profit margins, the going is tough say PricewaterhouseCoopers report
The sixth edition of Mine, the annual report reviewing global trends in the mining industry, says that despite the impact of the downturn, the results for the year ending 31 December 2008 were strong, but operating costs continue to erode profit margins which presents a tough road ahead.

14 May 2009
PricewaterhouseCoopers named best company for global diversity by DiversityInc
PricewaterhouseCoopers has earned the top spot on DiversityInc’s 2009 “Top Companies for Global Diversity” list, a select group of ten companies chosen for their strong commitment to creating a diverse and inclusive global culture.

7 May 2009
Utility companies face balancing act as they look to a world beyond recession says PricewaterhouseCoopers report
Utility companies face a difficult challenge as they balance the constraints of the downturn with the investment required to meet future energy demand, security of supply, and climate change concerns. PricewaterhouseCoopers’ 2009 Utilities Global Survey, A World beyond Recession, highlights the dilemmas of steering through the downturn while remaining focused on the long-term. The annual survey goes to the heart of boardroom thinking of 65 leading power companies in 39 different countries around the world.

5 May 2009
PricewaterhouseCoopers Tops List for Outsourcing Consultants
The International Association of Outsourcing Professionals, the global standard setting organization and advocate for the outsourcing profession, has ranked PricewaterhouseCoopers first on its list of the "World's Best Outsourcing Advisors".

30 April 2009
PricewaterhouseCoopers wins prestigious Global Award for its gender diversity work and achievements
The award, which recognises an outstanding diversity programme that extends across at least three countries, is in acknowledgement of the work and achievements of PwC’s global Gender Advisory Council, an international group of 14 senior male and female leaders from around the world who actively work to improve the representation of PwC women in the workplace.

30 April 2009
Challenging times require bold moves if pharma companies are to survive the immediate storm
Even the largest pharmaceutical companies will soon need to step outside their sector and collaborate with other organisations, according to new research by PricewaterhouseCoopers. Recently announced activity such as GSK and Pfizer’s new HIV-focused venture confirms that pharmaceutical companies are exploring new ways to collaborate.

27 April 2009
PricewaterhouseCoopers recognized as a leader in information security and IT risk consulting
PricewaterhouseCoopers LLP has been named a leader in the March, 2009 "The Forrester Wave™: Information Security And IT Risk Consulting, Q1 2009" report by Forrester Research. PricewaterhouseCoopers was among the select organizations that Forrester invited to participate in the report, which provides an independent assessment of the IT security and risk management services marketplace.

31 March 2009
G20 leaders must sow the seeds of recovery in a low carbon economy, not create the next bubble
As G20 leaders gather for the London Summit, the World Economic Forum’s Taskforce on Low Carbon Economic Prosperity launched today warned that world leaders “must not sow the seeds of the next bubble as we recover from the last.” There was agreement that coordination of a green recovery will not only make the fiscal boost more effective, it will also accelerate carbon reduction.

17 March 2009
Dennis M. Nally Selected As Global Chairman of PricewaterhouseCoopers
Dennis M. Nally has been elected Chairman of the PricewaterhouseCoopers International Network for a four year term beginning on July, 1, 2009. Mr. Nally has served as the Chairman and Senior Partner of PricewaterhouseCoopers LLP, the PwC United States member firm, since 2002 and is a member of the global PwC Network Leadership Team and Chair of PwC's Network Strategy Council. Mr Nally’s successor as chairman of PwC US will be announced later this year following an election proces.

10 March 2009
Aerospace and defence deals take a nose dive in 2008 according to PricewaterhouseCoopers report
Aerospace and defence (A&D) deal-making stalled in 2008 as companies and investors faced new market realities according to ‘Aerospace & Defence Deals* 2008’ the annual review of merger and acquisition activity in the global aerospace and defence industry, by PricewaterhouseCoopers. Total deal value in the sector more than halved from US$32.9bn to US$14.3bn.

5 March 2009
PricewaterhouseCoopers ranked as global leader in Business Advisory Services and Management Consulting, according to Kennedy
This latest report and ranking confirms PwC’s strong market position as a leading provider of Business Advisory Services and Management Consulting. With over 25,000 Advisory professionals around the world, PwC works collaboratively with over 80 percent of the world’s Fortune 500 companies.

2 March 2009
The year of the ‘no deal’ in mining sector says PricewaterhouseCoopers report
Following two years of record M&A activity, 2008 has turned out to be a year of extremes, according to Mining Deals* 2008, the annual review by PricewaterhouseCoopers of mining sector M&A activity. The earlier part of the year followed the previous year’s buoyant pattern before plunging in a sudden dizzying vortex in the final months.

25 February 2009
Smaller, refocused salesforce will enable pharma companies to create greater value for patients
The current role of the pharmaceutical industry’s sales and marketing workforce will be replaced by a new model over the next ten years as the industry shifts from a mass-market to a target-market approach to increase revenue, according to a new report published by PricewaterhouseCoopers.

24 February 2009
Exposures reveal supplier distress for auto industry says PricewaterhouseCoopers
Having just emerged from a period of inflated commodity prices, the supply sector is now facing declining volumes, difficulties obtaining credit, the risk of business failures of their own suppliers and liquidity concerns of their largest customers.

23 February 2009
Investment performance tops insurance risks
With over 400 responses from 39 countries, the new Insurance Banana Skins survey, conducted by the CSFI in association with PricewaterhouseCoopers, shows how respondents rank the risks facing the industry. High on the list is the macro-economic outlook and its impact on the insurance industry. Lower business volumes are expected to put strains on profitability and capital in many parts of the world.

20 February 2009
Oil and gas deals follow oil price over the cliff says PricewaterhouseCoopers report
Deal value reduced progressively throughout 2008 before following the oil price over the cliff in the final quarter as the financial crisis intensified and economic conditions deteriorated. Companies slammed on the breaks in the final quarter with total oil and gas deal value down 59% on 2007 levels and 72% compared with the final quarter high of 2006.

5 February 2009
Wind and solar powering renewables M&A activity says PricewaterhouseCoopers report
Strong M&A growth in wind and solar power sector is adding to renewable energy deal momentum, according to a new analysis of deal making in the industry published by PricewaterhouseCoopers today. Renewables Deals*, the first edition of an annual review by PwC. Solar overtook hydro as the second largest renewables deal category after wind, accounting for 20% of total renewables deals.

3 February 2009
Despite 'no big deal' 2009 promises more media M&A activity
Following the dizzy heights of 2007 M&A activity, last year the European media sector experienced a dearth of mega-deals, as the aggregate value of transactions fell 66% to €17bn from €50bn in 2007—PricewaterhouseCoopers LLP (PwC) reveals today.

29 January 2009
Biomedical industry becomes increasingly vital to state’s economic stability, finds California Healthcare Institute and PricewaterhouseCoopers
In the midst of financial upheaval, the biomedical industry stands out as a bright prospect for stability and growth and one that can play a key role in state and national economic recovery efforts, according to a report released today by the California Healthcare Institute (CHI) and PricewaterhouseCoopers LLP (PwC). The 2009 Report on California’s Biomedical Industry provides an overview of employment trends, wages, product development pipeline, opportunities and challenges for the industry in California, home to the largest concentration of biomedical companies in the world

27 January 2009
CEO Confidence Plummets to New Low - Most Top Executives Expect Slow Turnaround
Battered by recession, CEOs' confidence about future prospects for business has plummeted and executives expect a slow, gradual recovery over the next three years, PricewaterhouseCoopers 12th Annual Global CEO Survey has found.

21 January 2009
M&A power deal numbers surge while values slump says PricewaterhouseCoopers
The latest edition of Power Deals, the annual review by PricewaterhouseCoopers of power sector M&A, shows a 24% increase year on year in worldwide 2008 power deal numbers, up to 954 from 768 in 2007, but a 41% plunge in total deal value, down to US$205.6bn from its record level of US$372.5bn in 2007.

19 January 2009
Global technology deals - down but not out with the UK showing great resilience
Overall value of domestic technology transactions increased nearly ten per cent in 2008 despite the desolate economic backdrop that has rendered other industries destitute, a PricewaterhouseCoopers LLP report reveals today. In fact, in a year where global volumes declined by a fifth to 570 completions, from a post bubble peak of 713 in 2007, UK-inspired deals formed a third of all worldwide transactions.

5 January 2009
Tumultuous path ahead for auto industry in 2009 says PricewaterhouseCoopers
Following a dispiriting end to 2008, many markets and car producers are expected to continue enduring a tough path in 2009.

5 January 2009
Emerging economies now being hit hard by the global recession, but their share of world GDP could still be over 50% by 2014
While all of the major advanced economies are projected to shrink in 2009 and recover only gradually thereafter, the large emerging economies (particularly China and India) are expected to experience only a slowdown not a contraction in 2009 and generally retain much better medium term prospects than the advanced economies.

5 January 2009
IPO funds raised in 2009 to reach HK$70 billion
PricewaterhouseCoopers predicted that funds raised through new IPOs will be HK$70 billion in 2009, slightly above the figure in 2008 of HK$66 billion. With the fiscal stimulus programmes in place, the firm believes that the China and Hong Kong economies may be stabilised in the second half of 2009.