MAN FROM THE PRU IN SPOT OF PULP FRICTION May 20, 2010 SEASONED investors will be familiar with the mountain of paperwork that traditionally accompanies any City deal, but it does rather take the biscuit when recipients are actually forced to order waste-disposal skips in order to get the documents off their hands. Yet this, ladies and gents, is the position which stockbroker Charles Stanley finds itself, [...]
CITY MOVES | WHO’S SWITCHING JOBS May 17, 2010 Quayle Munro The boutique merchant banking group has appointed Andrew Adams, pictured, and Robert Cormie as executive directors. Adams has been a managing director at the firm since 2008, having spent ten years at The Van Tulleken Company prior to its acquisition by Quayle Munro. Cormie also became a managing director in 2008. Prior to [...]
London trails as business centre May 16, 2010 London has been ranked below Manchester and 35 other cities as a centre for business competitiveness by a KPMG survey. The accountant compared 112 cities, mostly in the developed world, using New York, Los Angeles, Chicago and Dallas as baseline models. Manchester was ranked first in Europe, an accolade local commerce figures said was down [...]
KPMG and PwC consider move into credit rating May 16, 2010 ACCOUNTANTS KPMG and PricewaterhouseCoopers have considered entering the credit rating business as the established players come under fire for failing to pre-empt the financial crisis. In the aftermath of the recession, which saw high-profile companies such as retail investor Baugur go bankrupt, KPMG said auditors should provide forward-looking assessments of a business’ risks as well [...]
London sales are slowed by volcanic ash May 16, 2010 RETAIL sales growth in London has slowed after the ash cloud crisis took its toll, according to the British Retail Consortium. Sales were up 3.6 per cent in April while they had jumped by 5.1 per cent in the same month last year. The volcanic ash cloud which billowed across Europe grounded flights for six [...]
CITY MOVES | WHO’S SWITCHING JOBS May 11, 2010 Defence Industries Council Ian King, the chief executive of BAE Systems, is to become chairman of the DIC following industry elections. The council represents the UK defence industry in discussions with the MoD, helping to ensure that the best possible equipment and services are provided to the UK armed forces. In his new role, King [...]
What the other papers say this morning May 10, 2010 FINANCIAL TIMES ABN AMRO ADMITS SANCTIONS BREACH The former ABN Amro, now part of Royal Bank of Scotland, on Monday agreed to pay $500m (£337m) in fines as part of a settlement with the Department of Justice and admitted that it willfully and systematically violated US sanctions against Iran, Libya, the Sudan and Cuba. The [...]
Easter timing hits retailers May 10, 2010 THE timing of Easter, combined with consumers’ ongoing uncertainty, caused UK retail sales to fall 2.3 per cent on a like-for-like basis last month compared to April 2009, the British Retail Consortium (BRC) will say today in its monthly retail sales monitor. This year, only two days over Easter fell in April compared to all [...]
Dubai Holding hires advisers May 9, 2010 Companies from Dubai Holding, a conglomerate owned by the emirate’s ruler, have hired advisers including Deloitte, KPMG and PwC as they consider a multibillion dollar debt restructuring.
CITY MOVES | WHO’S SWITCHING JOBS May 9, 2010 KPMG The accountancy firm has appointed Alastair McLeish as UK head of tax and pensions, effective from 1 July. McLeish joined KPMG’s Birmingham office in 1994 and was subsequently appointed in 2003 as head of the pensions advisory group, which he has built up since to encompass over 350 staff and 20 partners. Former UK [...]