City Moves | Who’s switching jobs October 9, 2012 NGBI Private Equity David Turner has joined NGBI’s UK team as an investment manager. He qualified as an accountant with Grant Thornton before transferring into its corporate finance team, and was most recently a member of Experian’s corporate development office. Chadbourne and Park The law firm has announced that Silvia Fazio has joined the firm as an [...]
UK retail sales bounced back in September October 8, 2012 BRITISH shops received a boost last month as retail sales sprung back to life after a miserable summer on the high street. Like-for-like sales shot up 1.5 per cent in September compared to the same time last year, the British Retail Consortium (BRC) said this morning – the strongest increase so far in 2012. And [...]
What the other papers say this morning October 7, 2012 FINANCIAL TIMES Austerity squeeze to last until 2018 George Osborne is set to be told this autumn by the Office for Budget Responsibility he will have to plug another large hole in the public finances, extending austerity until 2018 and throwing the coalition’s deficit reduction strategy into doubt. Regulator warns on Big Four alumni The [...]
Temporary work boosted but permanent roles are stagnant October 7, 2012 THE MARKET for temporary workers is booming, two data releases showed yesterday, but both point to a less positive picture in permanent placements. Temporary jobs growth hit a 14-month high, data from the Recruitment and Employment Confederation and KPMG showed yesterday, while permanent appointments inched down slightly. This chimed with data from the Association of [...]
Loophole stops industry from going full speed October 4, 2012 FINALLY, some good news. Not only did car sales improve by more than expected in September, but the gains came mostly through consumer spending rather than corporate sales. But wait – a new car? That’s a pretty luxurious purchase in these straitened times, surely the squeezed middle can’t be cutting back on everything else and [...]
EU reveals new crackdown on biggest banks October 2, 2012 BANKS across Europe will be split by new ringfencing rules, and be forced to hold more capital against mortgages in EU plans outlined yesterday. The new plans are aimed at making banking safer, but lawyers warned they will increase banks’ costs, hitting consumers and the wider economy, as well as causing confusion as they do [...]
Axe falls on 133 shops as JJB gives up October 1, 2012 AROUND 2,200 staff at JJB Sports were made redundant yesterday after administrator KPMG finally closed down 133 of the stricken retailer’s stores and sold the remaining 20 shops to Sports Direct. The rival group, controlled by Newcastle United football club owner Mike Ashley, has bought the JJB brand, its stock, as well as the Slazenger [...]
Ed Miliband’s populist policies will make the UK’s bad position worse October 1, 2012 OUR political climate currently mirrors our economic situation – bleak and shockingly uninspiring. At a recent breakfast for business leaders in London, a veteran newspaper journalist spoke of the challenge faced across the West as one of “unpopular governments and unconvincing oppositions”. The polls in Britain bear this out. A ComRes poll for the Independent [...]
Sports Direct set to snap up 60 JJB stores September 27, 2012 THE break-up of loss-making and debt-laden British sporting goods retailer JJB Sports is set to begin with market leader Sports Direct yesterday sealing a deal to buy 60 of its stores. JJB, based in Wigan, said on Monday it was close to appointing KPMG as administrators to sell its assets and brands after failing to [...]
Lack of lending hurting retailers September 27, 2012 The lack of mortgage lending to first time buyers is not only hurting the housing market, but also retailers selling tools, homewares, and furniture, data revealed today. Boosting lending would have a knock-on effect on these markets, the data released jointly by Genworth, the British Retail Consortium and KPMG showed. “A lack of lending leads [...]