Investor fury at Balfour Beatty profit warning September 29, 2014 SHAREHOLDERS are angry and concerned over the latest trading update from beleaguered construction firm Balfour Beatty. The update, published yesterday, is the company’s third in five months, and revealed a £75m profit shortfall in its construction services UK business. Balfour’s share price fell by 20 per cent after the report and closed down 15.3 per [...]
Downton actor Jim Carter stars as Hacks outshine Flacks in charity cricket match September 29, 2014 City spinners showed up in their droves to take on journalists and ex-England international cricketers in the annual charity Hacks verses Flacks cricket and rounders matches at the weekend in aid of Chance to Shine. Flacks from the likes of Deutsche Bank, KPMG, PwC, Deloitte and JLL all donned their whites to hit some [...]
City Moves for 30 September 2014 | Who’s switching jobs September 29, 2014 KPMG Sanjay Thakkar has been appointed head of the professional services firm’s transactions and restructuring practice in the UK. He began his audit career at KPMG in 1991, became a UK partner in 2005, and led its transactions and restructuring business in India between 2008 and 2011. Rathbones The investment management firm has appointed Andrew [...]
Balfour Beatty share price nosedives it issues its fifth profit warning this year September 29, 2014 Shares in Balfour Beatty plunged more than 20 per cent in early morning trading, after it issued its fifth profit warning this year. The company said its construction business is likely to show a £75m profit shortfall at the end of the year, but added that trading for the rest of the group remained in [...]
Why the housing crisis is fast becoming a threat to London’s businesses September 25, 2014 LONDON is a magnet for talent – there is little doubting that. But it is also a city with an underlying weakness that should be recognised as a danger to the capital’s competitiveness. That Achilles’ heel is London’s chronic housing shortage, an issue that is all too rarely framed in terms of business and competitiveness. [...]
Sir Mike Rake will no longer take the wheel as RAC chairman after it abandoned IPO plans September 25, 2014 There is a major turnaround at the RAC as City heavyweight and CBI president Sir Mike Rake will no longer take up his position as chairman of the roadside recovery firm, following investment in RAC today from Singapore sovereign wealth fund GIC. RAC had announced at the start of September it would appoint Rake [...]
Struggling to get a mortgage? Try to nab a new job at KPMG September 24, 2014 In the week that we found out (or merely had it confirmed) that London is the most expensive city to relocate staff to, KPMG has stepped in to save the day – for its employees in any case. The City firm announced yesterday it would be helping its staff on to the property ladder with [...]
Could Labour be set to make a big announcement on low pay at its party conference? September 18, 2014 Tackling low pay has been a central policy theme for Labour while in opposition, and it’s not hard to see why. While the economy is growing, wages aren’t rising in real-terms and people don’t feel better off. Ed Miliband knows this and has sought to focus his party’s strategy on the cost of living crisis [...]
Legal & General steps things up after John Pollock’s retirement news September 17, 2014 Legal & General may well be losing the “Jimmy Page” of insurance (their words not ours) when John Pollock retires next year, but it has followed this announcement with news it has signed up to StepJockey. It’s an initiative which labels stairs to inform people how many calories they’ve burned by climbing them. “We strive [...]
Banks start to regain public’s confidence September 10, 2014 BANK OF THE YEAR This year may be remembered as the year the banking sector started to fight back against the regulators after years in the doldrums post the financial crisis. Profitability is up, lenders are at last overcoming tough new regulatory hurdles and a stable future could be just around the corner. And the [...]