Rileys calls in administrators September 15, 2014 RILEYS Sports Bar yesterday went into administration for the second time in two years. The firm’s failure threatens around 500 jobs, and 15 of its sites have been shut down. Rileys’ parent company Greybull Capital put 136-year-old firm up for sale just two months ago. Deloitte was appointed as administrators. Rileys will continue to trade [...]
City Moves for 27 October 2014 | Who’s switching jobs October 26, 2014 PwC The professional services firm has appointed Tim Reay as a director of its pensions team. Reay has 30 years of experience, and joins from Aeon Hewitt. He is also the treasurer and former chairman of the International Employee Benefits Association. Purplebricks.com Former Capita boss Paul Pindar, and Nick Discombe, former chief executive of several [...]
Google Tax to prompt tech giants to kill Irish tax deals as government cracks down on avoidance tactics December 10, 2014 Rules, detailed by the government yesterday, aimed at clamping down on tax avoidance by tech giants including Google and Apple, could force US multinationals to start winding down “artificial arrangements” used to divert profits abroad. “What they’re trying to do is say ‘if you have a UK presence and if you are making UK sales, [...]
Gherkin bought by Safra Group: Meet the Brazilian-Lebanese billionaire behind the £700m deal November 10, 2014 The City's iconic Gherkin has been snapped up for more than £700m by the Safra Group, the investment giant controlled by Brazilian-Lebanese billionaire Joseph Safra. Safra, which last month won a $682m (£430m) takeover battle for banana group Chiquita, said yesterday it had agreed to buy the 590-foot tower at 30 St Mary’s [...]
Veteran Quindell board member Tony Bowers dies October 28, 2014 Insurance outsourcer Quindell announced that its independent non-executive vice-chairman Tony Bowers passed away yesterday afternoon. Bowers was a partner with Deloitte for 23 years before his retirement in 2008, when he began specialising in dealing with companies on aspects of business and taxation. He went on to join Quindell’s board in February 2011. “Tony was [...]
Kate Robertson: Who do you think is sorting out youth unemployment anyway? February 9, 2015 Understandably, David Cameron vaunts the 1.75 million jobs created on his watch. Though this makes those on the opposition benches squirm – I'd just like to point out who's doing the creating. As the political back-and-forth of an election season gains momentum, it’s something we are likely to hear more and more members of [...]
Obscure wage bill rules blamed for January transfers shortage January 22, 2015 An unexpetedly quiet January transfer window could be the first sign of little-known Premier League cost-control regulations starting to bite, according to industry experts. Despite English top-flight clubs being richer than ever before – all 20 are among the top 40 wealthiest in the world, it emerged this week – they have failed to spend [...]
London tech sector sparks City building boom at Silicon Roundabout November 10, 2014 London’s thriving tech sector has helped to drive a resurgence in building activity in the City over the past six months as developers push the start button on a record number of schemes in areas such as Old Street. Developers kick-started work on 10 new schemes in the City in the six months from April [...]
Tesco share price rises as it confirms Serious Fraud Office has launched a criminal investigation October 29, 2014 The Serious Fraud Office has launched a formal criminal investigation into accounting errors at Tesco which led to a £263m profit black hole. Despite that, shares rose 2.6 per cent in mid-afternoon trading. The SFO had previously said it was “following developments at Tesco with interest” after the supermarket’s profit overstatement was first revealed in [...]
Tesco probe finds evidence of inappropriate behaviour by staff October 19, 2014 THE INVESTIGATION into Tesco’s £250m black hole is understood to have found evidence that a small group of staff deliberately misled its auditors as they struggle to meet sales targets. The UK’s largest supermarket chain is due to report its delayed half year results on Thursday, with chief executive Dave Lewis set to update the [...]