Immigration restrictions are holding the economy back says new report April 8, 2014 The Recruitment and Employment Confederation (REC) has become the latest organisation to join the chorus of voices calling on the government to ease visa restrictions for migrant workers. The REC and KPMG jobs report published on Tuesday, said March saw a decline in the availability of candidates, with permanent staff availability falling at the sharpest [...]
Record growth across sectors as wages jump April 7, 2014 MANUFACTURERS and services firms are reporting the strongest investment and export growth in more than a century, according to the British Chambers of Commerce (BCC), suggesting they may begin to add more to the UK’s economic recovery. The group says services exports surged in the first quarter: 38 per cent more firms say outward trade [...]
CNBC Comment: Investors beware as banks go coco loco April 7, 2014 INVESTING in banks has become as chancy as having a flutter on the Grand National. False starts, stewards inquiries and the City equivalent of leaping 30 fences – all enlivened by thundering competition. But investors still harbour the hope of backing an unlikely winner. The trade in cocos, a hybrid of debt and equity, has [...]
EU finally passes rules to shake-up audit market April 3, 2014 AFTER years of negotiation, the European parliament yesterday approved a law aimed at preventing any listed company from using the same accountancy firm for more than 20 years. The new EU rules, which come into force in 2016, will force businesses to change auditors every 10 years, although contracts can be extended by a further [...]
City Moves for 04 April 2014 | Who’s switching jobs April 3, 2014 Brewin Dolphin The wealth management firm has announced the appointment of Guy Foster as head of research. He joined in 2006 as an analyst from Hill Martin Asset Management, where he was an investment director and portfolio manager. Axa Investment Managers The investment management business has appointed Robert Price as a solutions strategist in its [...]
TPG showering bathroom web store with cash April 1, 2014 A FAMILY owned bathroom fixture store based in Hull has won the backing of one of America’s biggest private equity investors. Victoria Plumb, an online store which sells products like showers and taps, is setting up a venture with TPG Capital, the buyout giant led by private equity veteran David Bonderman. The tie-up is thought [...]
Office dilemma: The golden rules for sacking staff March 31, 2014 The experience is never pleasant, but there are ways to soften the blow IT TURNED out that getting fired from Apple was the best thing that could have ever happened to me,” Steve Jobs once remarked. Unfortunately, not all employees will put Jobs’ positive spin on getting the sack. And the experience is little better [...]
Host Brandreth outshines the gong winners March 28, 2014 LONDON’S share price heroes were out in force last night at the KPMG UK Stock Market Awards but there wasn’t a winner in the room that could make as much of an impression as host Gyles Brandreth did as he blustered his way through the gong list. Brandreth mistook absent EasyJet boss Carolyn McCall (travel [...]
KPMG to open Mayfair office March 28, 2014 Accountancy group KPMG is poised to take office space in Mayfair, creating a base for clients that find the trip to its Canary Wharf headquarters too arduous. KPMG, which is moving its 6,700 London staff to the Docklands next year, is in exclusive talks for a client hub at 20 Grosvenor Street. The lease on [...]
UK banks pay 71 pc profit in tax March 26, 2014 THE biggest UK banks paid 71 per cent of their combined profits in taxes, KPMG analysts said yesterday, with 58 per cent going to levies like corporation and overseas taxes, and 13 per cent on the bank levy. And repeated hikes to the bank levy are draining lenders of crucial funds they could use to [...]