ACCA Comment: The financial reporting revolution February 18, 2014 Real-time data and integrated reports are sparking debate IT’S REPORTING season, but there is more to it than just profit and loss. What, how and when financial information is reported is a key issue for investors, and it is equally relevant to finance chiefs and the companies they work within. ACCA-qualified management accountants are no [...]
Man falls from roof of JP Morgan’s Hong Kong HQ February 18, 2014 A man has fallen to his death after jumping from the roof of investment bank JP Morgan's Hong Kong office, according to the South China Morning Post. Witnesses told the paper that the man fell from the 30 storey Chater House building between 2.00pm and 3.00pm local time. Samaritans is available round the clock on [...]
ING staff watch video about their new home February 18, 2014 STAFF at Dutch bank ING’s London office were left in little doubt last week about how close their new offices are going to be when they move in 2016. Lucky employees were treated to a video presentation that showed someone walking out of their current office at 60 London Wall, turning left, then left again [...]
Gulf rig outfit taps London for $100m of cash February 17, 2014 GULF Marine Services yesterday announced plans to float on the London stock market in a deal valuing the oil services company at $1bn. The company, which is headquartered in Abu Dhabi but has offices near Aberdeen, said it expects to raise $100m in an initial offering of shares, which it will use to purchase a [...]
DX Group is looking to deliver a £170m return to the stock market February 13, 2014 THE RISING confidence in equity markets has delivered another float, as parcel service DX Group seeks to raise £170m in what is set to be one of the largest initial public offerings on London’s Alternative Investment Market this year. DX, which delivers mail as well as parcels and freight, first floated in 2004 but was [...]
Everton and Manchester City matches fall victim to storms February 12, 2014 STORMS sweeping through Britain last night caused the postponement of Premier League matches at Manchester City and Everton. Title-chasing City were due to host struggling Sunderland at the Etihad Stadium, but the fixture was called off shortly before 7pm following advice from Great Manchester Police and the club’s own safety officer due to “exceptional and [...]
Failed credit union savers rescued February 11, 2014 The 400 savers who put cash in the Wantsum Credit Union are being rescued by the Financial Services Compensation Scheme. The members of the union, which is based in Kent, had a total of around £100,000 saved. The union was declared in default yesterday, and the FSCS said the majority of savers should have their money back [...]
Bottom Line: Clouds of uncertainty remain over shares February 9, 2014 Modern tech firms often have opaque business models that lead to headscratching – just look at the multi-billion dollar buyout offers from Facebook and Google for Snapchat, a firm with no revenue, let alone profit. But just because a business model isn’t blindingly obvious, it doesn’t mean it’s without merit. Enter Blinkx, the “internet media [...]
Eurozone on track for 2014 recovery despite retail hit February 5, 2014 THE EUROZONE’S economy has enjoyed a strong start to the year, business surveys revealed yesterday, despite separate figures pointing to a disastrous December period for the currency bloc’s retailers. Output in the euro area economy grew at its fastest rate since June 2011 last month, according to Markit’s widely-regarded purchasing managers’ index (PMI). However, Brussels [...]
No end for PPI claims as cutoff date is ruled out February 4, 2014 CUTTING short the PPI scandal by imposing a deadline on compensation claims would hurt victims of the crisis, Martin Wheatley said yesterday. Banks are still unveiling higher and higher estimates of the final cost of the redress payments as the flow of claims from customers shows no sign of ending. But the chief of the [...]