City Moves for 5 June 2015 | Who’s switching jobs June 4, 2015 AIG The insurer has announced the appointment of Angus Marshall as mergers & acquisitions (M&A) manager for the UK. He joined AIG in 2013 as an M&A underwriter. Marshall has also held positions in PwC’s international tax and M&A practice and in Norton Rose Fulbright’s private M&A division. Edmond de Rothschild Philippe Jouard has been [...]
Budget 2015: Take-home pay set to increase for UK workers March 18, 2015 Britain's workers will take home more of their income from April onwards, when the personal allowance goes up to £10,600. The amount that can be earned before tax is applied will increase again, to £10,800, in 2016, and then go up to £11,000 in 2017. For those paying the higher rate of tax, at [...]
Was George Osborne’s last Budget before the General Election a winner for British savers? March 18, 2015 Iain McCluskey, tax director at PwC, says Yes This was a Budget for those who choose to, in George speak, fix their roof. With returns on savings sitting at miserable lows for most people, the chancellor had to innovate to try and encourage the country to save. He did this by using the Budget to [...]
Labour rakes in more money than Tories in pre-election battle February 19, 2015 The Labour party received more money in the last quarter of 2014 than the Conservatives, new figures revealed yesterday. Electoral Commission data revealed that £10.9m was received by Labour between October and December 2014, compared to £8.4m for the Tories over the same time period. The Labour sum includes £3.7m of public money, from a [...]
UK energy firms face calls to add female leaders February 1, 2015 JUST nine per cent of seats on the boards of the UK’s top 100 energy firms are held by women, according to research from PwC and industry body Powerful Women (PfW). A new report from the financial services firm and PfW also reveals just five per cent of executive board seats are held by women [...]
Global M&A up in renewables January 28, 2015 GLOBAL mergers and acquisitions value in the power and renewables sector increased by 70 per cent between 2013 and 2014, and is currently at the highest level seen in the current decade, according to new research from PwC. Total worldwide power and renewables deal value rose from $143.3bn (£94.4bn) to $243.1bn, the first time the [...]
Budget 2015: Britain’s savers rewarded with new tax breaks March 18, 2015 Savers are to be rewarded with a new personal savers allowance, which the Treasury said would take 95 per cent of taxpayers out of savings tax altogether. In a nod to the difficulties imposed on savers by unimpressive interest rates, the chancellor has introduced an allowance of £1,000 of interest earned on savings. Those whose [...]
Marshall Motors IPO: Stealth flotation values car dealership at £115m March 30, 2015 Car dealership Marshall Motor Holdings (MMH) revealed a successful flotation on the Alternative Investment Market (Aim) yesterday, raising £50m from investors. The deal, which values the group at around £115m, was run as a so-called stealth initial public offering (IPO) by investment bankers at Investec. That means the stock market debut was not pre-announced [...]
Poundworld owners quids in after selling majority stake to US private equity firm TPG in £150m deal May 15, 2015 Britain's second-largest single price retailer Poundworld has been snapped up by US-based private equity group TPG in a deal reportedly valuing the business at £150m. Poundworld was started from a market stall in Wakefield, West Yorkshire in 1974 by owner Chris Edwards Sr and has since growth to have around 270 stores and over 5000 employees. [...]
All eyes on the Budget ahead of May election – London Report March 16, 2015 THE BUDGET, which will be delivered by the coalition government on Wednesday, will be the highlight of the week, as Britons look to see whether there will be any giveaways before the May General Election. Speaking on the BBC Andrew Marr show, chancellor George Osborne promised a long-term Budget with “no giveaways, no gimmicks”. “This [...]