CITY MOVES | WHO’S SWITCHING JOBS November 8, 2010 Williams de Broë Dougal Fraser is to join the investment manager, part of the Evolution Group, as an investment director and a member of the executive committee. Fraser has over 23 years of experience managing private client assets, most recently gleaned at BNP Paribas Wealth Management, where he has been an investment director and member [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 7, 2010 FINANCIAL TIMES DHL CHIEF PROMISES ACTION OVER BOMB FEARS The head of one of the three big air-express companies has reacted to the parcel bombs sent from Yemen and Greece by pledging better screening of customers and packages before they reach airports. “What we need to do is improve surveillance at the pick-up point, have [...]
CITY MOVES | WHO’S SWITCHING JOBS November 2, 2010 Ernst & Young The accountancy firm has hired Samantha Keen to join its restructuring practice as a partner, working with the liquidations and strategic exit routes (LASER) team. Keen has over 18 years of experience in the insolvency and restructuring arena, and has recently focused on advising clients about solvent reorganisation and legal entity rationalisation [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 1, 2010 FINANCIAL TIMES LEASE FEARS FOR OFFSHORE WIND FARMS Wind farm operators building offshore risk having their leases terminated without compensation if oil and gas companies decide they need the seabed plot for exploration, drilling or pipelines. Industry executives are warning that the lease terms, issued by the Queen’s Crown Estate, could threaten the funding of [...]
JJB hit with FSA fine October 29, 2010 Sportswear retailer JJB Sports has been fined £455,000 by the Financial Services Authority. JJB said the fine follows the end of an FSA probe into the company’s compliance with the regulator’s disclosure and transparency rules in the lead up to its interim results in September 2008. The 250-store JJB, which teetered on the brink of [...]
State cuts to hit 50,000 firms October 13, 2010 More than 100,000 companies in Britain are in financial distress, with a combined debt pile of £58bn, according to insolvency group Begbies Traynor. The company’s Red Flag Alert report on troubled companies said around 50,000 business are likely to be hit by the government’s looming spending cuts. The report said construction, IT, recruitment and advertising [...]
Business failures in London fall by 16 per cent, says report October 12, 2010 BUSINESS failures in London fell by 16 per cent in the third quarter of 2101 compared to a year earlier, according to a new report. The Equifax Business Failures Report found failures across the country fell by 13.4 per cent year-on-year, with the number of failures for the quarter standing at 6,646. However, this is [...]
Retail insolvency rates fall to pre-2007 levels October 10, 2010 RETAIL insolvencies fell to pre-recession levels this quarter, according to research from PricewaterhouseCoopers (PwC). Just 360 firms went bust in the third quarter, a drop of 11 per cent from the second and a massive 26 per cent reduction on last year. PwC believes the improvement will be continued as most of the weaker firms [...]
Corporate insolvencies plummet in London October 8, 2010 London businesses are “leading the country out of recession” according to research that shows the number of corporate insolvencies by 28 per cent in the third quarter. Only 745 London firms went bust in the three months to September, down from 1034 in the second quarter of the year and a 35 per cent drop [...]
Swiss to impose tougher capital rules on banks October 4, 2010 Global Swiss banks UBS and Credit Suisse must hold capital well in excess of new international standards, a government commission said, to limit risk that a bank failure could drag down the economy. The new rules may crimp the two banks’ ability to compete in the field of investment banking, but Swiss regulators want them [...]