Gold loses its lustre as industry fears price will stay flat or fall December 8, 2013 MOST gold miners expect the metal price to fall or stay the same in the next year, as confidence in the sector continues to plummet. Forty-seven per cent of gold producers surveyed by PwC expect the price to increase over the next 12 months, compared to 88 per cent a year ago. Seven per cent [...]
What the other papers say this morning – 13 January 2014 January 12, 2014 FINANCIAL TIMES Treasury debt pledge on Scotland The UK Treasury will today assume full responsibility for Britain’s £1.2 trillion debt stock in the event of Scottish independence, in an attempt to head off market jitters ahead of September’s referendum. Danny Alexander, Treasury chief secretary, fears gilt investors could start demanding a risk premium in the [...]
Analysts look to Osborne speech for giveaways November 28, 2013 UK ECONOMISTS laid out the possibilities for chancellor George Osborne’s Autumn statement yesterday, with less than a week to go until his speech. Capital Economics, PwC, BDO and IHS Global Insight issued their own expectations for the announcement, which will set the course for the government’s economic policies in the months ahead. Most expect the coalition [...]
Bring your business back home, PM urges at Davos January 23, 2014 THE PRIME Minister will today promise a pro-business regulatory environment and cheap sources of energy, in a bid to tempt British companies to bring their operations backto the UK. In a speech in Davos this morning, David Cameron will make the case for re-shoring the nation by bringing manufacturing, call centres and head offices back [...]
City Moves for 24 January 2014 | Who’s switching jobs January 23, 2014 SEI The investment management firm has announced the appointment of Brett Williams as UK managing director of its wealth platform. He joins from LW2 Private Equity Partnership, where he was a partner. Prior to that, he held senior roles at Cofunds, Selestia and Skandia UK. PwC The professional services firm has appointed Philip Smith to its [...]
Problems were isolated at RSA, report concludes January 9, 2014 AN INDEPENDENT report into problems at insurance giant RSA has concluded that financial inconsistencies led to a £200m hole in its finances, but were isolated to a few executives at the top of its Irish arm. The report highlighted “inappropriate collaboration” between three senior managers in the Irish business, which led to large claims being [...]
City Moves for 21 January 2014 | Who’s switching jobs January 20, 2014 PwC The professional services firm has hired Daniel Windhaus as a partner in its working capital team. He has over 15 years’ industry experience. Windaus formerly held roles at REL Consultancy and Alvarez & Marsal. Lambert Smith Hampton The commercial property consultancy has recruited Jonathan King as head of corporate advisory. King was most recently at [...]
Europe’s banks told they have €280bn hole December 2, 2013 EUROPE’S banks have a capital hole of €280bn (£233bn) and will have to issue €180bn in new equity to plug the gap, analysts at PwC estimated yesterday. The tide of new rules and clarifications around capital requirements, leverage rules and risk weightings is expected to push the requirements to the top of lenders’ agendas. And [...]
Europe’s banks told they have €280bn hole November 28, 2013 EUROPE’S banks have a capital hole of €280bn (£233bn) and will have to issue €180bn in new equity to plug the gap, analysts at PwC estimated yesterday. The tide of new rules and clarifications around capital requirements, leverage rules and risk weightings is expected to push the requirements to the top of lenders’ agendas. And [...]
Industry slates fossil fuel tax December 5, 2013 MANUFACTURERS yesterday slammed the lack of any compensation for energy tax in yesterday’s Autumn Statement. The carbon price support is a tax on fossil fuels used for electricity, which raises costs for energy-intensive industries. “The compensation scheme was notable by its absence,” said Jayne Harrold, environmental tax specialist at PwC. “The government needs EU state [...]