Business insolvencies fall November 22, 2010 The number of business insolvencies fell 17 per cent to 1,635 in October compared to a year earlier business information provider Experian said yesterday. The downward trend in the number of companies going out of business is being maintained, despite worries about the economic outlook and some high-profile casualties. The figures back up official statistics [...]
Bailout fails to bring calm to markets November 22, 2010 THE announcement of an international bailout for Ireland failed to enforce calm on the markets yesterday as political turmoil and ongoing insolvency issues stoked fears. After initially gaining, the Eurostoxx 50 fell two per cent to close at 2,811, tracing a pattern seen also on the FTSE 100, which closed down 1.7 per cent at [...]
Owls have 28 days to pay £1.4m bill November 17, 2010 SHEFFIELD WEDNESDAY have been given a 28-day stay of execution by a High Court judge in order to find new owners and pay off an outstanding tax bill of £1.4m. The League One club had been facing a winding-up petition from HM Revenue & Customs for £600,000, but the judge revealed in court that the [...]
EU President: Survival of Euro at risk November 16, 2010 A FRESH round of misery spread through Europe yesterday as Ireland’s continued insistence that it does not need a bailout sent stocks plunging on both sides of the Atlantic. The FTSE 100 recorded its biggest drop since August, falling 1.5 per cent yesterday to close at 5,690. The Dax dropped 1.2 per cent to close [...]
Irish: We don’t need a bailout November 14, 2010 THE Irish government yesterday continued to deny that the country is insolvent, but admitted that “ongoing contacts” continue with international officials “in light of current market conditions”. The admission from the Ministry of Finance yesterday marks a striking shift of tone from earlier statements which dismissed reports that Ireland was discussing a bailout package. Justice [...]
Stupid policies have destroyed Eire November 8, 2010 IT is starting to look truly grim for Ireland, which is moving ever closer to the abyss. An article yesterday by Morgan Kelly, a professor of economics at University College, Dublin, added fuel to the fire. By next year Ireland will have run out of cash, Kelly claimed, and the terms of a formal bailout [...]
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 [...]