Some good news in a gloomy world February 10, 2011 BRITAIN is losing market share in global investment banking, retail banking and private equity – and has been hammered especially badly in hedge funds and energy trading, where firms and people have upped sticks to Switzerland. But it is not all grim for the City. Two areas that are still doing well are foreign exchange [...]
CITY MOVES | WHO’S SWITCHING JOBS February 10, 2011 Alvarez & Marsal The global independent professional services firm, today announced the appointment of Stuart Ells, a seasoned media and entertainment expert, to its European performance improvement business. His arrival marks the formation of a specialist media & entertainment team focused on supporting both corporates and portfolio companies of private equity firms in this sector, [...]
What the other papers say this morning February 8, 2011 FINANCIAL TIMES BRUSSELS URGED TO END BIG FOUR DOMINANCE Four international accountancy networks have taken the unusual step of jointly calling for changes to the audit market in Europe and arguing that regulatory intervention is needed to dilute the power of the profession’s biggest operators. BDO International, RSM International and Grant Thornton International, the world’s [...]
FTSE dips as banks come under pressure February 8, 2011 The FTSE 100 dipped this morning despite strong results from Xstrata and BG Group. The index has gained in four out of the last five trading sessions – regularly surpassing the 6,000 barrier, but banking stocks were among the poorest performers today. Commodities dipped as the price of copper came down after a record high [...]
Retailers boost recovery hopes February 7, 2011 Spending on the UK’s high streets bounced back in January after December’s sales were hit by heavy snow, it will be revealed today. The news comes after the FTSE jumped 53.65 points yesterday – a rise of 0.89 per cent – breaking through the confidence-boosting 6,000 mark to close at 6,051.03. Retail sales were up [...]
Brian Brick breathes new life into outfitter February 7, 2011 BRIAN Brick is in the middle of a turnaround plan to restore Moss Bros to health after the ailing 88-year-old retailer lost its way. His reputation in the clothing industry is that of an effective, low-key retailer with an eye for detail. The scale of his task was shown by a pre-tax loss of £3m [...]
CITY MOVES | WHO’S SWITCHING JOBS February 6, 2011 Pinsent Masons The law firm has appointed Barry Vitou (pictured) to its dispute resolution team. He joins the firm from the London office of US firm Winston & Strawn, where he headed its regulatory and tech practice. He will be working with Danvers Baillieu, a senior associate advising on online and tech business issues. Vitou [...]
ETFs – what they are and how to use them February 3, 2011 THIS page usually deals with listed exchange-traded products (ETPs) in great depth. Last week, for example, we covered the ins and outs of leveraged exchange-traded funds (ETFs) – which offer all the exposure of an ordinary ETF, except doubled up. But while the UK market for ETFs has expanded dramatically over the last few years, [...]
US Embassy attracts £250m property scheme to Vauxhall February 3, 2011 TWO skyscrapers are being planned for Vauxhall, as developer CLS hopes to cash in on the multi-billion pound regeneration in the area. CLS aims to submit planning permission in late 2011 for two mixed-use towers of over 40 storeys at the Vauxhall Cross site, which is opposite Vauxhall Tube station and close to the new [...]
JD in talks to buy troubled retailer JJB February 2, 2011 JD Sports is in talks to buy troubled retailer JJB Sports, sending shares in the Wigan-based firm soaring 17 per cent. The news comes as JJB confirmed it will raise £31.5m from shareholders through the placement of 630m new shares, with sources close to the firm warning it may need further help within weeks. The [...]