UK’s dominant service sector hits the brakes November 5, 2014 THE UK’s service sector sustained its strong growth during October, but the pace of expansion was the lowest for 17 months. The services purchasing managers’ index – a survey of firms – fell to 56.2 in October from 58.7 in September, according to figures released by Markit yesterday. A score above 50 signifies growth. October’s [...]
Deloitte loses RBS audit job November 3, 2014 THE ROYAL Bank of Scotland (RBS) announced yesterday it would look to appoint Ernst and Young (EY) as auditor from 2016, potentially breaking its 14 year relationship with current auditors Deloitte. Deloitte, who have been the firms auditor since 2000 will continue in the role and undertake audit for the rest of 2014 as well [...]
UK factories see growth despite euro stagnation November 3, 2014 The UK economy showed continued signs of improvement in October, quelling fears that a lack of growth in the Eurozone would have a significant impact on the recovery. The UK manufacturing purchasing managers’ index – a survey of private sector companies – rose to 53.2 in October, up from 51.5 in September, according to figures released [...]
City Moves for 03 November 2014 | Who’s switching jobs November 2, 2014 Cunningham Lindsey Simon How has been appointed global specialty markets director at the loss adjusting and claims management firm. He most recently worked as a senior manager at Lloyd’s, where he was responsible for its claims strategy. How has also held claims consultancy roles at PwC and EY. NewSmith Asset Management The asset management firm [...]
City Moves for 31 October 2014 | Who’s switching jobs October 30, 2014 Berwin Leighton Paisner The law firm has announced the appointment of Elizabeth Bradley as head of corporate tax. She trained at Berwin Leighton Paisner and was made a partner in 2008. Bradley advises on all areas of corporate taxation, with a particular specialism in real estate tax. EY The professional services firm has announced the [...]
Mortgage drop points to house price slowdown October 29, 2014 THE HOUSING market has displayed further signs of cooling, with the number of mortgage approvals dropping to a 14-month low in September. The number of approvals for house purchases fell to 61,267 in September from 64,054 in August, according to figures released yesterday by the Bank of England. Total mortgage approval values were £15.3bn in September, down [...]
City Moves for 30 October 2014 | Who’s switching jobs October 29, 2014 Rule Financial Tony Sodhi has been appointed managing principal at the specialist business consulting group. He was most recently head of post trade operations at a niche consultancy, and has also held senior roles at KPMG/Atos and FX IT. Barclays Solomon Soquar has been appointed head of global investments and solutions in the bank’s wealth [...]
City Moves for 28 October 2014 | Who’s switching jobs October 27, 2014 Piper The private equity firm has announced the appointment of Richard Moore as investment manager. He joins from Magenta Partners. Moore is a chartered accountant, and spent four years working in financial due diligence, M&A, valuations, business modelling and distressed situations at EY. RBS Martin Knott has been appointed head of trade, global transaction services [...]
Dentists forced to take a bite out of savings as credit stays tight October 27, 2014 Dentists are taking risks by loaning more of their own money to their practices as the sector suffers from a lack of credit availability. The amount of money loaned by directors of dental practices to their own firms was £23.8m in the past year up from £13.5m a year earlier, according to figures published today [...]
Competition and sterling hit profit margins October 27, 2014 THE NUMBER of profit warnings issued by companies increased over the summer as margins were squeezed by greater competition, rising input prices, and a strong pound. UK quoted companies issued 69 profit warnings in the third quarter of 2014 – 13 more than the same quarter last year, a report released yesterday by accountants EY [...]