Begbies falls to a full-year loss July 5, 2012 Business rescue group Begbies Traynor swung to a loss in the year to April as its own restructuring expenses ate into its earnings. Revenues at the firm fell just under five per cent to £57.7m and a £5.5m pre-tax profit was more than wiped out by costs from the disposal of its overseas and tax [...]
LONDON REPORT July 1, 2012 ALL eyes this week will be on the Bank of England’s Monetary Policy Committee (MPC), which is on Thursday expected to inject another £50bn into the British economy. The decision is likely to be influenced by last week’s news that the double-dip recession is deeper than first thought. The Office for National Statistics said the [...]
Business confidence hits a two year high as factories prosper April 19, 2012 BRITAIN looks likely to have escaped a double-dip recession as confidence surged in the first quarter of the year, according to survey data published yesterday. A separate study, out today, shows the number of distressed firms fell sharply over the three months led by the manufacturing sector. A net balance of 19 per cent of [...]
Market indexes likely to prove mixed in short trading week April 1, 2012 TODAY The purchasing managers index (PMI) manufacturing reading is expected at 50.7 against 51.2 previously. This is a sector that performed strongly after the banking crisis, but which is now struggling. A reading less than 50 would indicate that the UK manufacturing sector is contracting. Earnings: Punch Taverns. TUESDAY The PMI construction reading is expected [...]
Begbies says insolvencies falling March 12, 2012 Professional services group Begbies Traynor cut 30 of its insolvency practitioners last year as fewer UK companies went bust, it said in a trading update yesterday. The firm said low interest rates had helped to keep the insolvency market “subdued”, though it has been trading in line with expectations thanks to improved cost control and [...]
CITY MOVES | WHO’S SWITCHING JOBS February 9, 2012 ICAEW Arthur Bailey has been elected as the next vice-president of the Institute of Chartered Accountants in England and Wales (ICAEW). Bailey, who will take office on 13 June, has served on ICAEW’s council for 14 years, including three years as chairman of the audit committee, and is a member of the board. He is [...]
Small companies holding back on new investment July 24, 2011 COST pressures and weak domestic demand are preventing small businesses from investing in future growth, a survey by Lloyds TSB unveiled today. Fewer than one in five firms expect to boost their level of investment over the next six months, while slightly more (21 per cent) are planning cuts. The negative balance (minus two per [...]
LATE PAYMENTS ARE STRANGLING SMALL BUSINESS July 24, 2011 THE government has just launched its “Business Buddy” scheme. This will have MPs spending time working in small or medium-sized businesses, seeing first-hand the challenges faced by entrepreneurs. These businesses represent the engine room of economic growth: in total 4.8m of these businesses provide 60 per cent of UK jobs and over half the country’s [...]
CITY MOVES | WHO’S SWITCHING JOBS July 11, 2011 Begbies Traynor Group The professional services consultancy has appointed Mark Fry as head of insolvency and restructuring. Fry joined the group in 2005 as a partner in its Insolvency and Restructuring division, rising to become both managing partner of the group’s London office and regional managing partner for London and the South East. His recent [...]
Begbies warns over companies on the brink April 13, 2011 The number of British companies in serious financial distress soared in the first quarter with restaurants, professional services businesses and the leisure industry in particular difficulty, a report showed. Begbies Traynor, a corporate recovery company that helps wind up or restructure firms, said its Red Flag Alert database showed 186,554 UK businesses were facing significant [...]