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 [...]
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 [...]
PM backs the City’s start-up business plans March 28, 2011 DAVID Cameron will today back a campaign launched by over 60 City firms to encourage people to become entrepreneurs. Firms including HSBC, Deloitte, Google, KMPG, BlackBerry, AXA, Coutts, Intel and Lloyds TSB are offering a package of £1,500 to every start-up that participates. Cameron will pledge his full support for the scheme and ask the [...]
PM backs the City’s start-up business plans March 28, 2011 DAVID Cameron will today back a campaign launched by over 60 City firms to encourage people to become entrepreneurs. Firms including HSBC, Deloitte, Google, KMPG, BlackBerry, AXA, Coutts, Intel and Lloyds TSB are offering a package of £1,500 to every start-up that participates. Cameron will pledge his full support for the scheme and ask the [...]
Auto Windscreens seeks cash February 6, 2011 The bankers to Auto Windscreens, Britain’s biggest supplier of replacement car windows, have appointed consultants to find a buyer for the ailing firm. The company’s main lender, Lloyds Banking Group, has appointed Deloitte to look for new investors. Auto Windscreens, which has 1,400 employees, is said to be close to needing fresh funds.