Profit warnings at a three-year high in 2014 July 27, 2014 UK- listed companies issued the highest number of profit warnings since 2011 in this year’s first half. Despite strong signs of recovery in the economy, companies say pricing pressures and currency headwinds are denting expectations. Quoted companies issued 137 warnings in the first six months of 2014, up nine per cent on the same period [...]
Inflation off the charts over in Battersea Park for charity sumo run July 27, 2014 Anyone living near Battersea who thought they heard the familiar rumble of thunder yesterday morning might have been surprised to hear it wasn’t another storm – but, rather, a troop of 90 Sumo wrestlers running a 5k race. Well, people in inflatable sumo suits. The run, in aid of Link Community Development International, was [...]
City Moves for 25 July 2014 | Who’s switching jobs July 24, 2014 Quantum Advisory Sean Gilfeather has been appointed principal consultant and actuary at the actuarial and benefits consultancy. He joins from Lorica Consulting, where he was head of actuarial and risk management. Gilfeather has also held roles at PwC and Towers Watson. Mercer The talent, retirement, health and investment firm has appointed Jane Barker as its [...]
EY takes over Parthenon Group to expand global consultancy July 21, 2014 Professional services giant EY – formerly Ernst and Young – is taking over multinational rival Parthenon Group, the pair announced yesterday. It is taking on the 300 staff from Parthenon, across offices in cities including London, Mumbai, San Francisco, Shanghai, Singapore and Boston. Neither Parthenon nor EY have disclosed the price of the deal. Clearsight Advisors worked [...]
Cash-rich firms to drive surge in UK investment July 21, 2014 UK INVESTMENT will surge ahead this year, according to a bullish forecast released by economists today, adding to a record number of projects in the UK by international firms. EY’s Item Club predicts that capital spending by UK businesses will rise by 12.5 per cent in 2014, more than four times as fast as total [...]
Boards win day despite investor revolts July 16, 2014 Three major UK companies suffered significant shareholder revolts yesterday on a busy day for annual general meetings – and, inevitably, the City grandee Sir John Peace was at the centre of one of the dramas. Peace, who has been at the centre of two shareholder battles already this year, found himself under fire again after nearly [...]
Barclays ditches cashiers as it shifts to digital July 11, 2014 The face of high street banking is changing, and Barclays has decided to drop the role of traditional cashier as customers increasingly adopt digital services for managing their finances. The British bank has announced that it will be moving 6,500 employees from cashier roles to advisory roles, where they will help customers with managing [...]
City Moves for 11 July 2014 | Who’s switching jobs July 10, 2014 BNP Paribas Real Estate The property adviser has appointed Pippa Evans as UK HR director. She has most recently been working on an interim basis at HSBC. Evans was also formerly HR director at Liberty Mutual Insurance Europe, and senior HR business partner at Schroders Asset Management. KPMG The professional services firm has announced two [...]
Bullish fund management execs forecast surge in money growth July 6, 2014 THE FUND industry predicts growth of new cash flowing into products will nearly double to nine per cent every year for the next five years, an upbeat survey suggests. The bullish assessment says net new money growth will improve from the current rate of three to five per cent annual growth to reach nearly 10 [...]
Urban Exposure IPO: Property lender to raise £500m in market float July 2, 2014 A residential property lender yesterday announced plans for a £500m stock market float as it seeks to tap into demand for new homes in London and the south east. Urban Exposure was founded as a property developer in 2002 by former Deutsche Bank risk analyst Randeesh Sandhu, but started providing short-term loans to other [...]