CITY MOVES WHO’S SWITCHING JOBS August 6, 2009 LUUPTory MP Michael Howard has joined independent global mobile financial provider LUUP as chairman. The former home secretary is retiring from Parliament to develop an international business career. The position adds to his current business profile as chairman of Northern Racing, deputy chairman of Entrée Gold and a non-executive director of Helphire group. Tenon RecoveryTenon [...]
JD Sports tackles Canterbury August 4, 2009 Rugby shirt maker Canterbury has been sold to sportswear retailer JD Sports Fashion in a £6.5m deal, brokered by KPMG. JD sports has bought the key trading assets and global rights to the brand, which sponsors the London Wasps rugby union team.
Revenue slide for Deloitte August 3, 2009 ACCOUNTANCY giant Deloitte yesterday said its revenues slid by 2 per cent in the year to the end of May, as the financial crisis weighed on its tax and corporate finance activities. Senior partner John Connolly reported profits distributable to partners of the firm of £601m, and revenues of £1,970m, in a blow to his [...]
Reds seal refinancing deal with RBS and Wachovia July 27, 2009 LIVERPOOL’S owners have ended months of uncertainty by refinancing £290m of debt they accrued in buying the club. The deal with Royal Bank of Scotland and Wachovia is believed to have extended Tom Hicks and George Gillett’s repayment period for a year. The Americans are also thought to have agreed to pay back £60m of [...]
COFFEE BEAN COUNTERS July 27, 2009 IT may come as something of a surprise but accountancy can be something of a bitchy world. So, ever since KPMG won the account as administrators to the coffee chain Coffee Republic earlier this month, there have been rumours that it did so by undercutting some of its rivals on fees. Not so, says KPMG. [...]
Tata hires KPMG to help cut costs at Jaguar as its earnings in India surge July 27, 2009 JAGUAR LAND ROVER’S (JLR) owner, Tata Motors, has hired KPMG and Roland Berger Strategy Consultants to advise it on cost-cutting at the struggling car firm. The carmaker will be given advice on how to break even and on how to manage its cashflow more effectively. “We are going ahead with their proposals and this is [...]
City’s most successful accountant still has plenty of fire in his belly July 20, 2009 IT IS EASY to tell when you are nearing , Deloitte boss John Connolly’s office because an awful lot of people you bump into in the firm’s corridors begin to ask about his welfare. “Is John in?” asks one, a tad nervously. “What mood is he in today?” asks another. There is a feeling of [...]
London retail sales outpace UK thanks to sunshine and tourists July 19, 2009 RETAIL sales surged in central London last month thanks to the mini heatwave which sent shoppers racing for summer clothes, sandals and outdoor items, according to the latest survey from the British Retail Consortium (BRC) and KPMG. Research found like-for-like sales in June were 4.7 per cent higher than the same month in 2008 when [...]
Surge in fraud as hard times encourage investors and firms to drop their guard July 19, 2009 FRAUD is hitting record levels in the UK, with over 160 cases of serious fraud with charges of more than £100,000 during the first half of this year, according to the latest barometer from business advisers KPMG. The half-year figures are the highest recorded since KPMG began the survey 21 years ago. Together the cases [...]
CANTERBURY TRIES BUT FAILS July 13, 2009 THE European arm of rugby shirt maker Canterbury yesterday fell into administration, with the loss of 72 jobs in the UK. Canterbury Europe supplies teams including the London Wasps, Leinster and the Scottish national side. Administrators KPMG said all contracts with clubs have now been cancelled. The rest of Canterbury Group, including the global Canterbury [...]