Dim view of banks puts the brakes on FTSE 100’s rally March 19, 2012 BRITAIN’S top shares eased back from last week’s 2012 highs yesterday, as weakness in banks after recent strong gains overshadowed a late-session recovery from miners, with investors awaiting the next catalyst to drive the market. The benchmark FTSE 100 index closed down 4.47 points, or 0.1 per cent, at 5,961.11. Banks, which spearheaded the FTSE [...]
WorldSpreads plunges into administration March 19, 2012 Financial spread-betting company WorldSpreads Group, which suspended its shares last week over possible irregularities in its accounts, has gone into administration and warned it owes clients millions of pounds. The Dublin-based company, which runs online and telephone trading services, said on Monday Jane Moriarty and Samantha Bewick from accountancy firm KPMG had been appointed as [...]
Search on for betting client cash March 18, 2012 SPREAD-BETTING firm WorldSpreads was forced into administration yesterday after the discovery of “accounting irregularities” proved too serious to avoid collapse. Thousands of clients stand to lose out after the Financial Services Authority (FSA) warned last night that there could be a “shortfall in the client money accounts” but said it will “will return as much [...]
London top dog for investments March 15, 2012 LONDON remains the most attractive city for global investment, according to a study by KPMG. Shanghai and Hong Kong are close behind, however, and other emerging market cities are catching up, KPMG and the Greater Paris Investment Agency said in an annual report. Sao Paolo enjoyed a 160 per cent surge in international investment over [...]
CITY MOVES | WHO’S SWITCHING JOBS March 14, 2012 KPMG Forensic KPMG has announced the appointment of James Siswick as director of its financial services forensic team. He will help drive the expansion of the firm’s financial crime business, with anti-money laundering and sanctions as his key areas of interest. Siswick joins after fourteen years at Deloitte, where he most recently worked as director [...]
Simon Collins wins vote for KPMG chair March 12, 2012 KPMG’s new UK chairman elect Simon Collins yesterday vowed to put his firm at the centre of the debate on how to win back trust in the financial services sector, as he celebrated his election victory against two better known rivals Oliver Tant and Alan Buckle. Collins, who is currently global head of KPMG’s transactions [...]
Accountants hit out at Clegg’s tycoon tax March 11, 2012 INDEPENDENT accountants have shot down deputy prime minister Nick Clegg’s call for a “tycoon tax”. Addressing his party faithful at their spring conference in Gateshead, Clegg attacked “multimillionaires avoiding tax by moving their money around” and claimed that many pay less than 30 per cent or even 20 per cent tax. Yet tax experts at [...]
KPMG to unveil next UK chair March 11, 2012 The audit and consulting group KPMG is due to announce its next UK chairman today. The race to succeed John Griffiths-Jones as leader of the firm’s UK operations has been whittled down to the last three: global head of transactions and restructuring Simon Collins, Alan Buckle, who has been supervising various European and global activities, [...]
KPMG’s chair to be announced March 8, 2012 The audit and consulting group KPMG has told its employees that it intends to announce its next UK chair on Monday who will later this year succeed John Griffith-Jones. There is said to have been no clear leader in the race, which is down to the last three: Simon Collins, Alan Buckle and Oliver Tant.
Employment lifts as firms grow bolder March 7, 2012 STRONG jobs figures published yesterday raised hopes that the economic recovery is finally underway. Permanent staff placements by recruitment firms grew for the second month running in February, according to the KPMG and Recruitment and Employment Confederation (REC) report on jobs, though temporary placements fell. Overall demand for staff rose at the fastest pace in [...]