Harvey Nash sees City jobs bounce back September 30, 2010 RECRUITMENT specialist Harvey Nash said yesterday that a rise in jobs in financial services had helped the company to boost its profit. The firm saw pre-tax rise to £2.6m from £1.8m a year earlier as new life was breathed into the jobs market following the recession. An increase in regulation has seen companies recruit more [...]
Compass serves up growth September 30, 2010 COMPASS Group said it expected full-year earnings to rise by around 15 per cent after sales growth accelerated in the second half boosted by new contract wins and improved retention of existing customers. The group, which counts Chelsea Football Club, London’s O2 arena, the Bank of England and the US Senate among its clients, said [...]
Ofgem plans to halt quiet price hikes September 30, 2010 ENERGY suppliers will have to warn customers 30 days in advance before raising power and gas prices if a plan by watchdog Ofgem wins approval. Under current rules, suppliers can put up prices without notifying customers for up to 65 days afterwards. The rules will come into effect at the start of 2011, providing suppliers [...]
Blackstone’s James says capital is difficult to raise September 30, 2010 TONY James, president of US private equity business Blackstone Group, said yesterday there isn’t enough capital available from investors to fund all the opportunities he sees in the market. “In 2005 and 2006, if you put it out well, you could raise as much as you could invest,” James, 59, said at the Bloomberg Dealmakers [...]
Corporate lending in Europe, Africa and the Middle East rises to $574bn September 30, 2010 COMPANIES in Europe, the Middle East and Africa (EMEA) borrowed $574bn (£365bn) of syndicated loans in the first nine months of 2010, up 16 per cent on the same period a year ago as the loan market was boosted by a jumbo loan for BHP Billiton, according to Thomson Reuters data. Lending in the third [...]
Compass September 30, 2010 COMPASS has come a long way since Turkey-Twizzler-gate. It is now the world’s largest food business, with operations in 50 countries and annual revenues of £13bn. According to yesterday’s numbers, things are going from strength to strength. Momentum is clearly on the firm’s side. Organic sales grew 0.4 per cent in the first half, and five [...]
EX-MPC MEMBER JOINS CREDIT SUISSE September 30, 2010 FORMER Bank of England Monetary Policy Committee member Kate Barker has joined Credit Suisse as a senior adviser. Barker, who spent nine years on the MPC, was formerly a chief economic adviser at the CBI. Sir Alan Budd, who stepped down from Credit Suisse in May to spend a fleeting stint as the first chairman [...]
M&C Saatchi expects Xmas adverts boost September 30, 2010 AD AGENCY M&C Saatchi hopes a bumper Christmas for retailers will help it beat full-year expectations. The update came as Saatchi posted a 17 per cent rise for pre-tax profit to £6.3m and the same size sales rise to £58.2m, for the six months to the end of June. The news adds to hopes that [...]
Monetise joins mobile scheme September 30, 2010 UK MOBILE banking and payments group Monetise has announced a major partnership to supply software for Visa’s new contactless payment system. Last week City A.M. revealed Visa will roll out a network of payment points where users can use their mobile phone to pay in stores. Now Monetise has said it will partner DeviceFidelity to [...]
Orange JV announces 1,200 jobs will be axed September 30, 2010 EVERYTHING Everywhere, the tie-up between France Telecom’s Orange and Deutsche Telekom’s T-Mobile in the UK, said yesterday it would cut 1,200 back office and management jobs. The company said the roles were duplicated across the two businesses, which merged in July, and will affect around 7.5 per cent of its 16,000 strong workforce. Everything Everywhere [...]