Recovery in consultancies as fee income hits pre-crisis high May 13, 2012 BRITAIN’S management consultants made as much money in 2011 as they did in the peak years before the financial crisis, industry data showed today. The industry’s fee income grew by just under five per cent in 2011 and the number of fee-earning consultants increased by 10 per cent according to a report from the Management [...]
Britain avoids global prime property slip May 13, 2012 THE VALUE of prime property in the world’s major cities dropped in the first three months of 2012, industry figures revealed today – the first time prices have fallen since 2009. Knight Frank’s prime global cities index registered a 0.4 per cent fall, led by Tel Aviv’s 6.6 per cent drop, Kiev’s fall of 6.4 [...]
Ally Financial’s ResCap is filing for bankruptcy May 13, 2012 ALLY Financial’s Residential Capital unit is nearing a bankruptcy filing, sources familiar with the situation said yesterday, in a move that could help the US taxpayer-owned car lender shed its troubled mortgage business but also spur drawn-out legal fights. The board of ResCap was set to meet late yesterday and a pre-arranged bankruptcy filing, where [...]
Deloitte offers tech advice in new digi-arm May 13, 2012 BIG FOUR accountancy firm Deloitte has joined the digital revolution and will today launch a new division to cater for clients seeking tech advice. Deloitte Digital, a practice of over 800 employees globally with 100 staff based in the UK, will provide strategy, creative and implementation advice across the areas of mobile, web, social and [...]
OVERSEAS BIG SPENDERS LURED TO EDINBURGH May 13, 2012 EDINBURGH enjoyed a surge in tourist spend over the past year, thanks to international shoppers flocking to the Scottish capital, particularly from China, Russia and Brazil. Tax-free shopping specialist Global Blue said tourist spending soared by 75 per cent in the twelve months to March, thanks in part to increased investment in the city centre.
CITY MOVES WHO’S SWITCHING JOBS May 13, 2012 Rule Financial Pauline Parker has joined the provider of business and IT services to investment banks as head of its application managed services division. She joins Rule Financial from Temenos, the banking software solutions firm, where she served as a business consultant. Parker has also previously held the posts of Midas solutions director at Misys [...]
BEST of the BROKERS May 13, 2012 DAILY MAIL & GENERAL TRUST Peel Hunt has upgraded the media group from “sell” to “hold” and has raised its target price slightly, from 409p to 412p. The broker thinks DMGT could raise cash by selling or floating its Risk Management Solutions business, which it values at between £518m and £605m. While Peel Hunt still [...]
WALL STREET WEEK AHEAD May 13, 2012 MORE volatility could be in store for US stocks this week as investors grapple with less certainty about the US economic outlook and a new blow to the financial sector after JP Morgan Chase’s trading loss. Europe is expected to keep investors jumpy as well, with inconclusive results from the recent Greek election and the [...]
LONDON REPORT May 13, 2012 THIS week will see a string of stormy annual meetings, which will be closely watched for signs that the “shareholder spring” is taking hold. The market is also due to digest some key earnings reports on Thursday and Facebook’s long-awaited US float on Friday. However, today looks set to be relatively quiet on the corporate [...]
Ex-slickers cooking up a storm May 13, 2012 Poncho 8 FOUNDERS Nick Troen (formerly a consultant at KPMG); Frank Yeung (formerly a trader at Goldman Sachs); Nick Birkett (formerly an investment analyst at BlackRock). BUSINESS The first Poncho 8 in Spitalfields opened in September 2009 with the aim of being the first of a fast-casual Mexican chain. www.poncho8.com WHY DID YOU LEAVE THE [...]
