Fitness First will open 30 new clubs in India with £16.4m expansion plans November 23, 2014 Fitness First is to open 30 new clubs in India as part of a £16.4m investment in the region over the next five years. The fitness club operator, led by former InterContinental Hotels chief executive Andy Cosslett, said today that the new openings would take its membership to more than 45,000 customers and create 1,250 [...]
Former Quindell chairman, Rob Terry, sells most of his stake, sending share price down by almost half December 10, 2014 Quindell klaxon, everyone: former chairman Rob Terry has sold off most of his remaining stake in the embattled insurance outsourcer, sending shares plummeting by almost half their value, to 24.1p. The company has been at the centre of a massive loss of confidence over the past few months. Since April, when mysterious US short seller [...]
Thomas Cook wins big at the PwC Plc Awards March 6, 2014 THE GONGS were flying at the Grosvenor House Hotel last night for the PwC Plc Awards. Host Mishal Husain (of BBC fame) told the crowd how organiser Ian Restall likes to keep a tight ship and sure enough it was all over by 10pm with award-giving kept to an unusually neat 35 minutes. The Lazarus [...]
UK firms expect moderation in rapid economic growth October 28, 2014 UK firms’ expectations of economic growth have seen a decline with weak global growth and low productivity hitting sentiment. Reductions in growth expectations have occurred in the manufacturing, distribution, and consumer, business and professional service sectors, according to survey data published today by the Confederation of British Industry (CBI). The CBI is forecasting 0.6 to [...]
City Moves for 12 December 2014 | Who’s switching jobs December 11, 2014 Castle Harbour The financial services firm has appointed Eric Daniel to co-manage a new convertible bond fund. Daniel was formerly head of equity derivatives and convertible bond sales at Citigroup in Paris. He will run the Castle Harbour R&D Pure Global Convertibles Fund. Canaccord Genuity Nishad Vallonthaiel has been appointed head of electronic and programme [...]
London Mining enters administration October 16, 2014 London Mining has entered administration. The steel mining company, which suspended trading on Aim last week, said the board had decided to put the company into administration after a “longer than expected period of negotiations between the senior lenders and the potential acquirers of the Marampa mine, as well as a lack of liquidity [...]
Frank Timis swoops to save Marampa iron mine in Sierra Leone November 3, 2014 Mining tycoon Frank Timis has acquired the Marampa mine from London Mining’s administrators at PwC, through his business Timis Corporation. Timis is executive chairman of African Minerals, which operates the Tonkolili iron ore mine in Sierra Leone, where Marampa is also located. Timis Corp and African Minerals are looking at blending the products from [...]
City Moves for 09 December 2014 | Who’s switching jobs December 8, 2014 TSP The commercial property agency has announced two promotions. Jonathan Vanstone-Walker becomes director of surveying & agency. He joined TSP in 2011. Abigail Bridgland (pictured) becomes senior associate surveyor. She has been at the firm for two years. State Street Matt Davey has been appointed senior vice president and head of the asset manager client [...]
More stores closing on UK high streets but betting shops survive October 9, 2014 There has been sharp decline in the number of shops on UK high streets According to a survey by PwC and the Local Data Company, the net reduction of shops during between January and September was two and a half times greater than during the equivalent period in 2013. There was a net closure [...]
Metro Bank in running for PwC bank contract February 18, 2014 METRO Bank, RBS and Santander are understood to be among the banks bidding for PwC’s business, as the professional services firm shakes up its finance relationships. The changes come as PwC takes on HSBC as an audit client, and so can no longer bank with the firm. PwC also audits Barclays and Lloyds, narrowing the field in [...]