Bankers leave glamorous jobs for compliance roles January 21, 2013 BANKERS are retraining in compliance in unprecedented numbers either to change career as their traditional jobs are cut, or to make sure they are well prepared to cope with tough new regulations, according to figures seen by City A.M. The City has lost over 100,000 jobs since the start of the financial crisis as banks [...]
UK car exports hit record high January 17, 2013 THE UK exported more cars than ever before in 2012, figures revealed yesterday, providing a much-needed boost for the country’s manufacturing sector. British factories made 1.46m cars last year, a rise of nine per cent and the highest number since 2007 – and experts predict further growth in the years ahead, Of these, 1.21m were sold [...]
Big four make up lion’s share of £11bn accountancy fee income January 17, 2013 FEE income at Britain’s 60 biggest accountancy firms totalled almost £11bn last year, as the biggest firms gained work in consulting and corporate finance while the mid-tier firms fought to grow. The big four professional services firms – PwC, Deloitte, Ernst & Young and KPMG – made up £8.35bn of the top 60 firms’ earnings, [...]
Social mobility is a problem for British business to resolve January 14, 2013 ECONOMISTS tell us that the worst may be over. After a double-dip recession, unemployment is dropping, the FTSE has made a confident start to the year, banks are showing an increased willingness to lend, there are indications of life in the housing market, and there are some signs of growth. But even the most optimistic [...]
Brown calls for speedy restart of rail contracts January 10, 2013 A REVIEW commissioned in the wake of the West Coast franchising fiasco has called for changes to the bidding process, including a hiring drive to bring more experienced staff into the Department for Transport. Former Eurostar boss Richard Brown used his report, published yesterday, to call for passenger satisfaction to be taken into account when [...]
Luxury cars still selling fast in new markets January 10, 2013 BMW and Audi both posted record-breaking annual sales yesterday as demand for high-end marques in emerging markets continued to drive growth. Germany’s BMW reported sales of 1.845m vehicles in the year, a rise of 10.6 per cent. All three of its brands – BMW, Mini and Rolls-Royce – delivered increases during the year. Rolls-Royce enjoyed [...]
Schroders replaces its auditor January 9, 2013 FTSE 100 investment firm Schroders has chosen KPMG as its new auditor, replacing PwC after more than 50 years. Schroders began a tender process in September for its auditor, a mandate that rarely changes hands in Britain’s largest companies.
Cycle to Paris? Scope throws down gauntlet January 9, 2013 DISABILITY charity Scope has challenged our City Boris Bikers to step their game up a notch, and take part in a London to Paris cycle ride. The charity is organising the 24 hour ride as part of a wider fundraising campaign in which participants are encouraged to try and fulfil an ambition in just one [...]
Vroom-vroom but not a boom January 7, 2013 RECORD UK sales for Jaguar Land Rover in 2012 are a rare rosy indicator. Up 19 per cent year on year, without even the benefit of a government industrial policy to spur it on, these numbers must have JLR’s owner Tata Motors purring in delight. And this is not a one-off result. While JLR deserves [...]
City Moves for 8 January 2013 | Who’s switching jobs January 7, 2013 UBS Global Asset Management Roz Amos has been appointed head of European consultant relations at UBS’s asset management business. She joins after 15 years at Towers Watson, where she was most recently senior investment consultant with responsibility for overseeing its indexation research and new ideas research teams. Vanguard Asset Management Axel Lomholt has been appointed [...]