Guy Dawson joins up with Red Knights March 8, 2010 CITY stalwart Guy Dawson will advise a string of wealthy backers on their bid to wrest control of Manchester United. The Nomura banker, who sold his Tricorn Partners advisory firm to the Japanese bank and now works there, will advise a group of United fans who plan to buy the club for £1.25bn. Dawson advised [...]
Taxes to rise, says top Tory adviser March 8, 2010 A Conservative government would be under pressure to raise the general level of taxation to tackle Britain’s record deficit, one of its key advisers said yesterday. Alan Budd, who would lead the Conservative’s fiscal policy watchdog, suggested the budget deficit, set to top 12 per cent of gross domestic product this year, could not be [...]
Kroll eyed for possible sale March 8, 2010 INSURANCE broker Marsh & McLennan is believed to be putting corporate investigations company Kroll up for sale. Kroll declined to comment on the sale, but reports suggest it will be given a $1.3bn (£864m) price tag. It is understood that Carlyle Group, Apax Partners and General Atlantic have all bid for the company, while BC [...]
Bair calls for tighter reforms March 8, 2010 SHEILA Bair, chairwoman of the Federal Deposit Insurance Corporation in the US, called for large financial institutions to pay for the costs of their failure in an address to the National Association for Business Economics yesterday. Bair said a “pre-funded resolution mechanism” was needed alongside a “clear mandate” that can be applied to large institutions [...]
Prudential to fast track its Hong Kong listing March 8, 2010 PRUDENTIAL will rush through its Hong Kong listing in a bid to underpin its record breaking £14bn rights issue. The insurer hopes the announcement yesterday will help avoid a shareholder backlash by attracting Asian investors to shore up its share price before embarking on the mammoth fundraising. The Pru will also hope the news will [...]
JAMES DYSON CALLS FOR NEW TECH AWARD March 8, 2010 SIR James Dyson has proposed a new “prize for engineering” in a bid to encourage Britain to support its science and engineering industries. The vacuum cleaner entrepreneur proposed the “Brunel Prize” yesterday as part of a review of these sectors, and also added that young people should be encouraged to choose science and engineering degrees.
EU draws up plans for euro rescue fund March 8, 2010 THE European Commission is looking at plans to create a rescue fund for European member countries in a bid to prevent another major financial crisis in the future. The fund, which would act in a similar fashion to the International Monetary Fund (IMF), would help to prevent future crises similar to Greece’s, said the Commission [...]
Royal Mail and its union agree 7pc pay deal March 8, 2010 THE ROYAL MAIL has reached a settlement to end its long-running dispute over the pay and working practices of its workers. Staff will receive a 6.9 per cent pay rise over three years, beginning in April, and full-time workers will get extra payments worth up to £2,500 when all agreed changes have been made. Workers [...]
Tullett staff decide to stay March 8, 2010 INTER-dealer broker Tullett Prebon expects fewer of its London brokers to move to other tax regimes than anticipated, after it decided late last year to facilitate relocations for staff wanting to avoid the new 50 per cent top rate of income tax. Chief executive Terry Smith said more stringent rules from HM Revenue & Customs, [...]
City to become worst for banker taxes, says KPMG March 8, 2010 HIGH-RANKING bankers and hedge fund managers living in London will pay more in personal tax and social security starting next month than if they were based elsewhere, according to research carried out by KPMG for Financial News. The accountancy firm said from 6 April when the government implements its 50 per cent tax on income [...]
