MF Global UK debtors boosted February 13, 2013 Unsecured British debtors of failed brokerage MF Global are set to receive an interim payment of 40p in the £1, according to KPMG who are winding up the business. Further payments could be made, depending on the outcome of lawsuits involving the US arm of the business.
Retailer Republic poised to fall into administration February 12, 2013 REPUBLIC, the youth fashion retailer, is poised to become the latest high street name to collapse into administration, putting 1,000 jobs and 121 stores at risk. Ernst & Young has been lined up as administrators and the appointment is expected to be confirmed this morning. The group’s demise marks the latest in a string of [...]
Boom in vacancies in January brings hope for the unemployed February 7, 2013 THE EMPLOYMENT boom was still continuing apace in January, according to figures released this morning. Both temporary and permanent jobs were being added during the first month of 2013, KPMG and the Recruitment and Employment Confederation (REC) said, while vacancies were also on the up. Temporary billings increased for the sixth month in a row, [...]
City Moves for 7 February 2013 | Who’s switching jobs February 6, 2013 Quilter Cheviot The asset management firm has appointed Jane Seymour as group marketing director. She joins from Rathbone Brothers, where she held a similar position. Seymour has over 20 years’ experience working in the financial services sector, and will report to chief executive Martin Baines. Catalyst Corporate Finance The advisory business has appointed two new [...]
The Debate: Does the £15bn bid for Virgin Media mark the return of major deal-making to the UK? February 6, 2013 YES Andy Cox While the deal market has been slow over the past few years, a recent wave of high-profile activity at “big ticket” prices, like Liberty Group’s £15bn bid for Virgin Media, suggests companies and investors are regaining a taste for mergers and acquisitions (M&A). Our research suggests that there is the capacity and [...]
Retail enjoys January rebound with best growth in 13 months February 4, 2013 LIKE-FOR-LIKE sales grew at their fastest annual pace for 13-months in January, delivering a much-needed rebound to the embattled retail sector. January’s sales were 1.9 per cent higher than during the same month last year, figures from the British Retail Consortium (BRC) and KPMG revealed this morning. Total spend grew an even healthier three per [...]
Big four tax bosses defend their firms during grilling from MPs January 31, 2013 TAX heads at the big four accountancy firms clashed with MPs yesterday over their role in helping large companies to reduce their tax bills. Margaret Hodge, who chairs the public accounts committee, called for PwC, KPMG, Deloitte and Ernst & Young to be banned from doing work for the government in light of the loopholes [...]
Investec trumps rand weakness to increase its income for 2012 January 31, 2013 INVESTEC, the South African money manager, yesterday said it overcame a weaker rand to increase annual operating income by one per cent in the nine months ending December 2012. The dual listed company, which trades in London and Johannesburg, posted the increase, net of depreciation on operating leased assets, despite a 13 per cent slide [...]
Watchdog says boards should look for risks on the horizon January 29, 2013 COMPANY boards and auditors need to be more vigilant about long-term risks to financial health, according to tighter rules from the Financial Reporting Council written in the wake of the credit crisis. The FRC said today it wants directors to consider threats to their business models and capital levels at least a year into the [...]
City Moves for 30 January 2013 | Who’s switching jobs January 29, 2013 Pinsent Masons Michael Isaacs has been appointed partner in the law firm’s financial sector disputes practice. He is a banking litigation specialist, and joins from Addleshaw Goddard. Issacs has over 20 years’ experience in the sector. Mizuho International The London-based securities and investment banking arm of Mizuho Financial Group has appointed Antony Slotboom as head [...]