FRESH HOPE FOR PONTIN’S January 5, 2011 UK HOLIDAY camp firm Pontin’s has attracted ten offer approaches since going into administration, accountants KPMG said yesterday. KPMG, appointed as administrators in November, said the majority of the offers were from parties keen to continue operating the business as a going concern. But in a blow to unsecured creditors, KMPG said there would be [...]
Travel group bosses gain after failure January 3, 2011 THE former finance director of Europe’s largest tour operator has pocketed a £757,000 share deal just weeks after he stepped down over a £117m black hole in the firm’s accounts. Paul Botwell, who exited TUI Travel in October, gained from a share payout to five senior directors amounting to £4.9m on 30 December. Chief executive [...]
The City is back but under new management December 21, 2010 BRITAIN’S financial landscape has been transformed since we last shone a light on the City’s most powerful figures two years ago. The City A.M./CityJet Power Hundred 2011 list ranks the most influential figures in UK finance as we head into the new year. It should be no surprise that it is very different from 2009. [...]
JP Morgan confirms London as its EU headquarters December 20, 2010 INVESTMENT bank JP Morgan has confirmed it will base its European headquarters in London, at 25 Bank Street in Canary Wharf, from 2012. The announcement is a major vote of confidence in London as a leading financial services centre and will come as a relief to policymakers. The bank has paid £495m to acquire more [...]
CITY MOVES | WHO’S SWITCHING JOBS December 19, 2010 Navigant Consulting Howard Gendler (pictured) has been promoted to managing director of Navigant Consulting. He currently leads the business’ international development efforts, with a primary focus on disputes and investigations. Gendler has over 25 years’ experience directing sales and IT for European and US clients. He joined Navigant from Milnet, a litigation support firm, and [...]
Inflation fear as VAT looms December 13, 2010 INFLATION expectations could lead to even higher prices and wages, the deputy governor of the Bank of England said yesterday. “Given the unexpected strength of inflation in recent months, this risk has probably increased,” said Charles Bean. The Bank will watch inflation “like proverbial hawks,” he added. Bean was speaking after official data showed a [...]
London bounces back despite worries over economic future December 13, 2010 LONDON’S businesses are recovering strongly from the recession, a survey revealed yesterday. More than two in three (68 per cent) businesses in the capital plan to expand in the coming six months, while hiring intentions are rocketing. Last year only 11 per cent of employer planned on hiring at normal rates. Yet now 45 per [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 9, 2010 FINANCIAL TIMES BP DELAYS LIBYA DEEP WATER PLAN BP has delayed its plans to explore in the deep water off the coast of Libya until next year after deciding not to use its original drilling rig “for operational reasons”. The UK oil group said that it was still in the process of ensuring any safety [...]
Offshore trusts attacked by government tax plans December 9, 2010 THE GOVERNMENT plans to crack down on offshore trusts used to avoid tax on bonuses, it revealed yesterday, as part of its plan to shake up tax rules. Money kept in trusts for employees will be treated as payments to workers and taxed at a higher rate under the government’s 2011 budget plans published yesterday. [...]
Job placements up in November December 7, 2010 Permanent placements and temp billings rose at the fastest rates for three months in November, according to a UK labour market report released today. The Recruitment and Employment Confederation (REC) and KPMG Report on Jobs, which draws on recruitment consultancies data, showed three-month highs for both permanent placements and temporary billings, following a previous slowdown. [...]