SNOW’S THE STAIR MASTER IN THE RACE OF THE THOUSAND STEPS March 3, 2011 HERE’S a story with legs: the results of the third annual Vertical Rush race up the 920 dizzying steps of City skyscraper Tower 42 in aid of housing charity Shelter. Setting off in hourly slots, 1,200 chip-timed runners – including racers from Legal & General, Schroders, Threadneedle, Tullett Prebon and KPMG – vied to see [...]
Businesses pay price for discounts February 27, 2011 Price discounting by UK businesses during the recession has led to dents in profit that could top £20bn, according to a research by KPMG. The survey of 200 UK businesses found that more than 50 per cent had made discounts, with 49 per cent entering direct price wars with competitors. Two-thirds of those polled saw [...]
F1 team eyes IPO finish line February 27, 2011 THE BANKERS for Formula One race team Williams will today conclude the bookbuilding process for its initial public offering (IPO). German lender Baader Bank last night confirmed that it had fully covered the book ready for the listing. Swiss lender Bank am Bellevue is leading the global bookbuilding process. The British-based racing team will list [...]
CITY MOVES | WHO’S SWITCHING JOBS February 17, 2011 KPMG Robert Mirsky is joining the financial services firm as head of hedge funds in the UK. He was previously managing director of investment consultancy Laven Partners, and has worked for Ernst & Young’s hedge fund practice in the US. Mirsky, who trained as a lawyer in the US, is also the chairman and founder [...]
3i acquires Japanese lender Mizuho’s debt management business for £18.3m February 16, 2011 PRIVATE equity group 3i has bought the debt management unit of Japanese lender Mizuho Corporate Bank for £18.3m. Mizuho Investment Management (MIM) is one of Europe’s biggest debt managers with assets under management (AUM) of £3.7bn. 3i’s existing debt management activities will be merged with MIM to create a new specialist division handling £4bn of [...]
Get talent: how CFOs can make the most of the people they hire February 15, 2011 HEAD OF EMPLOYER SERVICES, ACCA Chief Financial Officers (CFO) all over the world are facing a challenge – maximising the value that finance teams bring to the business. People – and not numbers – are the sum of an organisation, and in a new report with KPMG, ACCA (the Association of Certified Chartered Accountants), looks [...]
Private firms step in to create jobs February 13, 2011 JOB creation in the private sector is starting to pick up, according to a respected report. The survey, conducted by the Chartered Institute of Personnel and Development (CIPD) and KPMG, lends support to prime minister David Cameron’s claim that private firms will provide jobs as cuts in the public sector take hold. Manufacturing and private [...]
JJB Sports to fight for new rent proposal February 13, 2011 JJB SPORTS was heading for a battle with its landlords and other retailers after confirming its company voluntary agreement (CVA) is to include the renegotiation of two-fifths of its rent payments. The company has warned its biggest landlords, including British Land, Henderson and Prudential, that if its terms for discount rent and tenancy breaks for [...]
Infrastructure India taps UK shareholders February 13, 2011 INFRASTRUCTURE India has become the latest Indian firm to tap the UK markets for investment cash, raising £33m in a share placing. Shares worth £25.5m at 60.5p each have been placed with existing and new investors and will start trading on AIM on Thursday, the firm said at the weekend. Specialist energy investor Guggenheim Global [...]
Bargain Booze sale considered February 13, 2011 Private equity firm ECI Partners is mulling a sale of Britain’’ biggest off-licence drinks retailer chain, Bargain Booze, for about £90m, according to a weekend report. The firm has appointed advisers at accountancy group KPMG to carry out a strategic review, with options including a sale or refinancing of Bargain Booze. ECI took control of [...]