CITY MOVES | WHO’S SWITCHING JOBS July 4, 2011 Compact GTL The modular gas solution for oil and gas fields has appointed Simon Clark (pictured) as its first chief operating officer. Clark joins Compact GTL after spending the majority of his career at Centrica, where he developed large-scale energy infrastructure projects such as the North Sea oil and gas production business and the offshore [...]
Stress test finds Europe’s insurers “robust” July 4, 2011 European insurance companies are well prepared for strict new capital requirements being imposed from 2013, the European insurance regulator has said. The latest round of insurance stress tests, designed to see if insurers hold enough capital to be resilient in risky scenarios, found that the industry remains “robust”, according to the European Insurance and Occupational [...]
Banks hit by S&P Greece default blow July 4, 2011 Banking shares took a hit in early trading after ratings agency S&P issued a fresh warning over the Greek debt crisis. S&P said Greece would be likely to default if it follows a debt rollover plan in which French banks would allow the country to pay back its debt to them over decades. Investors were [...]
Jobs boom in financial sector: CBI July 3, 2011 HIRING in financial services hit its highest level since the credit crunch in the three months to June, a survey from the Confederation of British Industry (CBI) will show today. “Similar growth is predicted for the coming three months,” the CBI said in its latest financial services survey, compiled with PwC. Income from interest, investment [...]
CITY MOVES | WHO’S SWITCHING JOBS July 3, 2011 DTZ Catherine Vasseur, who joined the real estate adviser in January 2011, has been appointed as head of UK property management and a member of the UK executive committee. She will continue to focus on seven service delivery areas covering clients, staff engagement and the market perception of the business. Previous roles include president and [...]
TJ Hughes finally in administration June 30, 2011 Department store chain TJ Hughes finally slipped into administration yesterday, appointing accountants Ernst & Young to manage the process. Endless, the Liverpool-based owner of TJ Hughes, led a management buyout of the chain in March but has been unable to turn it around. Endless said TJ Hughes’ sales were “significantly down” on last year while [...]
Businesses must back our campaign June 28, 2011 BRITAIN faces a huge challenge. Innumeracy and financial illiteracy are rife in this country, in an appalling indictment of years of failed educational policies. Tragically, millions of people are unable to grasp fully even the most basic of financial products, such as mortgages or savings accounts. In an era when self-reliance and financial independence are [...]
One country gets it on bank reforms June 28, 2011 BELIEVE IT or not but Denmark has emerged as Europe’s pioneering financial reformer. We need to learn from it. Fjordbank Mors, a small lender, has just been allowed to go bust; taxpayers are not having to shell out a penny and the world hasn’t come to an end. Senior bondholders at Fjordbank Mors are taking [...]
One country gets it on bank reforms June 27, 2011 BELIEVE IT or not but Denmark has emerged as Europe’s pioneering financial reformer. We need to learn from it. Fjordbank Mors, a small lender, has just been allowed to go bust; taxpayers are not having to shell out a penny and the world hasn’t come to an end. Senior bondholders at Fjordbank Mors are taking [...]
Aviva sells off RAC to Carlyle for £1bn cash June 23, 2011 AVIVA is to sell its RAC roadside rescue business to private equity firm The Carlyle Group for £1bn, as the British group continues scaling back from non-core areas to focus on its insurance operations. The auction process was fiercely fought, with Carlyle battling rivals Clayton Dubilier & Rice and BC Partners to be the first [...]