UK should reform its electricity markets to attract investment July 18, 2010 BRITAIN must reform electricity markets if it is to secure the private investment needed to meet its carbon emissions targets, according to a study by KPMG. The report, out today, said the government’s investment in low-carbon generation was inconsistent and clearer planning was needed to show how emissions targets will be met. “Nuclear represents the [...]
CITY MOVES | WHO’S SWITCHING JOBS July 18, 2010 Artemis Investment Management The fund management group has hired Giles Parkinson as a new investment analyst, tasked with supporting William Littlewood in managing the £567m Artemis Strategic Assets Fund, launched by the firm just over a year ago. Parkinson joins from Newton Investment Management, where he has been a research analyst for the past four [...]
Ocado reels as rival IPO fails July 14, 2010 OIL and gas group Fairfield Energy last night pulled its upcoming stock market flotation in a move that further undermines the chances of online grocer Ocado floating at a sky-high valuation of £1bn. Fairfield was hoping to raise £330m as part of its flotation but on Tuesday it became clear that the group’s advisers were [...]
Brief sunny spell for retailers July 12, 2010 SUNNY weather and summer clearance sales gave retail sales a much-needed boost last month, the British Retail Consortium (BRC) will say today in its monthly survey. Retail sales values rose 1.2 per cent on a like-for-like basis on June 2009 while total retail sales values were up 3.4 per cent. However, in the three months [...]
Job market is still on the up July 6, 2010 RECRUITMENT firms continued to see rising demand for workers across all sectors last month, showing that the impact of the Budget spending squeeze has yet to filter through to the public sector job market. Both permanent and temporary staff placements grew in June, according to a monthly job report published by accountancy firm KPMG, with [...]
London is in danger of losing its status as top business base June 30, 2010 LONDON is in danger of losing its standing as the premier place to do business, according to an influential survey published today. While four fifths of chief executives continue to rate the capital as a good or very good place to do business, this has fallen by six per cent in the past six months, [...]
Accountants back report by regulators June 30, 2010 ACCOUNTANTS say they are willing to consider whether the current audit model needs to evolve to meet changing market needs, following a recent report by the Financial Services Authority (FSA) saying that the profession had not been sceptical enough about the financial firms it audited in the run up to the banking crisis. The City [...]
AUDITOR VIEWS: WHAT IS YOUR REACTION TO THE JOINT FSA AND FRC REPORT ON THE ROLE OF THE AUDITOR? June 30, 2010 GRAHAM CLAYWORTH | BDO We welcome the healthy contribution to the debate. What does need to happen is for auditors, regulators, corporates and investment bodies to sit down and say ‘how do we go forward?’ and this is why I think this report is helpful. RICHARD SEXTON | PRICEWATERHOUSECOOPERS The audit is critical to the [...]
To be young, gifted and green June 24, 2010 He’s just about to set up his fourth environmental fund and he’s not yet 30, but Ben Goldsmith has emerged as a leading force in environmental investing since he set up the UK’s first clean technology venture capital fund in 2004. This is all through Wheb (soon to be Wheb Partners). There are now two [...]
Retailers warn tax hike threatens sales recovery June 22, 2010 RETAILERS yesterday warned the rise in VAT would dent a recovery on the High Street, but won an important concession by convincing the Treasury to delay its introduction until 4 January. Treasury sources said the chancellor had taken into account the “hoo hah” experienced by the industry when the last change in VAT was enacted almost [...]