Dawson’s chair blames pension as calls in KPMG August 15, 2012 DAWSON International’s chairman blasted the UK’s emergency pension fund and the pension regulator yesterday as the Scottish cashmere firm called in administrators. David Bolton told City A.M. that the pension protection fund (PPF) was “not fit for purpose” after it rejected Dawson’s offer for a rescue package. The company has been unable to maintain its [...]
School leavers scramble for finance roles August 15, 2012 AS students across the country wake up today to collect their A-level results, several City firms have announced initiatives to encourage school leavers into finance and business roles. In an attempt to lure pupils away from the conventional route of a university degree, accountancy firm KPMG said yesterday it has doubled the number of training [...]
City Moves | Who’s switching Jobs August 15, 2012 Troika Dialog The investment banking division of Sberbank has appointed Dean Tyler as managing director, head of international fixed income sales. He joins its London office from VTB Capital, where he was head of its fixed income sales team. Tyler has also held senior roles at ING Bank and F&C Asset Management. Scottish Widows Investment [...]
Consumer dip defied by car registrations August 6, 2012 NEW car registrations spiked upwards in July as a year of growth for the automotive industry continued to strengthen, with luxury brands performing well. Registrations jumped 9.3 per cent last month to 143,884 vehicles, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT) – the sharpest increase of any month [...]
Summer sun and Olympic fever fail to reignite UK’s retail sales August 6, 2012 RETAIL sales failed to significantly recover last month despite improved weather and the start of the London 2012 Olympic Games, figures from the industry have revealed this morning. Like-for-like sales in UK shops were virtually flat in July, edging up just 0.1 per cent compared to a year earlier, according to the British Retail Consortium [...]
CITY MOVES | WHO’S SWITCHING JOBS August 6, 2012 Riverview Law Paul Bird has been appointed finance director at the law firm. He joins from Pearson Education, where he was finance director and company secretary at its subsidiary, Education Development International. UBS Global Asset Management Stephen Hutton has been appointed head of UK wholesale at the asset management firm. He joins from Zurich Intermediary, [...]
PROFESSIONAL SERVICES FIRM OF THE YEAR August 6, 2012 TODAY’s shortlists for the third annual City A.M. awards kick off with our nominations for professional services firm of the year. The UK and EU may be planning significant shake-ups to the industry, but the firms on our shortlist aren’t letting that worry them, continuing to win bluechip clients, pursue global expansion and pioneer employment [...]
WorldSpreads administrators look to courts August 5, 2012 THE ADMINISTRATOR for defunct spread betting firm WorldSpreads yesterday said it was collecting evidence ahead of potential legal action to recover money owed to the firm’s creditors. A forensic accounting team from KPMG has been appointed to pore over 24 terabytes of data including emails recovered from WorldSpreads to try and piece together how the [...]
Bank of England holds rates despite darkening economy August 2, 2012 THE Bank of England held fire on new policy yesterday, despite the darkening outlook for the UK economy. Its Monetary Policy Committee decided not to increase quantitative easing (QE) and kept rates on hold again, an approach analysts have put down to a concern to see how funding for lending (FLS) and the most recent [...]
CITY VIEWS | ARE YOU PLANNING TO GO TO THE OLYMPICS? August 2, 2012 DANNY MILLS LLOYD’S OF LONDON I’m not going but being a rower myself, I went ecstatic when I went to see Britain’s first gold medal victory in the rowing a couple of days ago, and having served in the Royal Navy I found the presence of the Armed Forces added to the patriotic fervour. MIKE [...]