Job creation highest in ten months March 9, 2011 Recruiters, led by the private sector, filled permanent vacancies at the fastest pace in 10 months in February while wage inflation eased to a three-month low, a survey showed. Research for the Recruitment and Employment Confederation and KPMG also showed hiring of temporary staff rose at its sharpest rate since May 2007, offering hope the [...]
BUSINESS AS USUAL AS BORIS BIKES TO CANNES March 8, 2011 IF you happened to be in Cannes yesterday afternoon, you would have been treated to the sight of a middle-aged, straw-haired man riding a Boris Bike into the centre of town. On closer inspection, you would have spotted that that figure was, in fact, the London Mayor Boris Johnson, who was livening up the MIPIM [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 7, 2011 FINANCIAL TIMES IVORY COAST MOVE SPARKS COCOA FEARS Laurent Gbagbo, the Ivory Coast leader who the international community says lost presidential elections in November, announced he would nationalise the cocoa sector in a surprise move that threatened to drive the cocoa price sharply higher. The African country is the world’s largest cocoa exporter, accounting for [...]
Hannam left out in the cold for Glencore IPO March 7, 2011 BANKERS are already salivating over the sizeable fees associated with the upcoming flotation of the Swiss-based commodities group Glencore. The IPO, if it goes ahead (some think it may yet stumble), will be listed in London and Hong Kong and will bring in fees of £300m-plus to a group of banks that is likely to [...]
JJB launches life-saving rent cut plan March 3, 2011 STRUGGLING sportswear retailer JJB Sports is offering its landlords a share of up to £7.5m if they back its rescue plan. The company, in which America’s richest man Bill Gates holds a 5.5 per cent stake set out the details of its second company voluntary arrangement (CVA) in as many years. It needs creditors, including [...]
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 [...]