Centre Point tower sold March 24, 2011 NEW PROPERTY company Almacantar could turn some floors of the Centre Point tower into luxury flats, after buying the tower out of administration. Almacantar, set up last year by former Land Securities executive Mike Hussey, has exchanged contracts on the Grade II-listed tower near Tottenham Court Road underground station. The firm did not say how [...]
CITY MOVES | WHO’S SWITCHING JOBS April 17, 2011 Halifax Share Dealing The execution-only broker has confirmed Damian Stansfield as its new managing director. Stansfield moves from Lloyds Banking Group, where he held the position of risk director for direct channels and group marketing. In his new role, Stansfield will be responsible for the day-to-day management of Halifax Share Dealing and strategic development of [...]
HMV meets banks on loan facility fears March 16, 2011 TROUBLED music retailer HMV was yesterday preparing a presentation to its bank lenders due early next week as it works to resolve an impending breach of a loan covenant. HMV is meeting the banks on a weekly basis as it attempts to renegotiate terms of a £240m loan facility and is taking debt advice from [...]
HMV meets banks on loan facility fears March 16, 2011 TROUBLED music retailer HMV was yesterday preparing a presentation to its bank lenders due early next week as it works to resolve an impending breach of a loan covenant. HMV is meeting the banks on a weekly basis as it attempts to renegotiate terms of a £240m loan facility and is taking debt advice from [...]
Time to be tougher towards the EU May 9, 2011 IT was Europe Day yesterday – and no, I wasn’t celebrating. The EU is shockingly badly managed. It wastes vast amounts, its single currency is in crisis (with bailout-hungry Greece’s credit rating downgraded again), it is bureaucratic and its massive regulatory apparatus is crippling, rather than liberating, Europe’s economies. Take two all too typical anecdotes: [...]
ENTREPRENEURS NEWS | IN BRIEF March 20, 2011 TRAINING YOUNG ENTREPRENEURS Deloitte, 3i, Diageo and McKinsey are backing a new training programme to encourage young people to be more entrepreneurial. The programme is selective and runs for one year from September. It is aimed at motivated young people interested in business. 25 candidates will have a 12-month internship with an entrepreneur. In addition, [...]
ENTREPRENEURS NEWS | IN BRIEF March 20, 2011 TRAINING YOUNG ENTREPRENEURS Deloitte, 3i, Diageo and McKinsey are backing a new training programme to encourage young people to be more entrepreneurial. The programme is selective and runs for one year from September. It is aimed at motivated young people interested in business. 25 candidates will have a 12-month internship with an entrepreneur. In addition, [...]
WHY BICK’S CHILEAN MINOR HAS X APPEAL April 10, 2011 CHARLIE Bick, the teenage son of Square1 Consulting’s chairman David Bick, looks set to follow in the footsteps of fellow Old Harrovian James Blunt, as his appearances on the Chilean X Factor are winning him an army of female fans. Charlie, 19, entered Chile’s first X Factor contest after his host family in Santiago – [...]
CITY MOVES | WHO’S SWITCHING JOBS April 5, 2011 APCIMS Ian Cornwall has been appointed as director of regulation at the Association of Private Client Investment Managers and Stockbrokers. Cornwall, who has more than 20 years’ experience as a risk and compliance professional, four of which were spent as head of UK regulation for APCIMS, will work with the government to develop regulation for [...]
UK to probe bank covenants favouring big auditors March 23, 2011 The government has asked regulators to investigate whether banks help to entrench the “Big Four” auditing firms’ dominance through restrictive lending agreements with companies. Chancellor George Osborne’s Budget included a call to the Office of Fair Trading to probe whether bank covenants lock out smaller auditors. The Financial Reporting Council had expressed concern to lawmakers [...]