CITY MOVES | WHO’S SWITCHING JOBS September 29, 2010 Tullett Prebon The inter-dealer broker has re-hired Tory MP Michael Fallon as a non-executive director, just a few months after he resigned to pursue an unsuccessful campaign for the Treasury Select Committee chairmanship. Fallon, who lost out to Andrew Tyrie, rejoins Tullett a week after he replaced Lord Ashcroft as deputy chair of the Conservative [...]
Big four accountants warned by FRC to improve on audits September 13, 2010 THE FOUR largest accountancy firms need to improve the quality of audit services, a body within the Financial Reporting Council (FRC) has warned. A report into the auditing practices of the “big four” accountancy firms, including Deloitte, Ernst & Young, PricewaterhouseCoopers (PwC) and KPMG, found that in three cases KPMG had signed off on audits [...]
Government to meet suppliers to discuss cuts September 29, 2010 FRANCIS Maude, the Cabinet Office minister, will hold discussions on Friday with major defence, IT and other equipment suppliers aimed at shaving billions of pounds from its annual procurement bill. Companies such as Balfour Beatty, Carillion, Cisco Systems, Deloitte, Ernst & Young, KPMG, Slaughter & May and Tata Consultancy Services are expected to be at [...]
WHAT THE OTHER PAPERS SAY THIS MORNING December 13, 2010 FINANCIAL TIMES US REGULATOR WIDENS STANFORD PROBE TO BROKERS US securities regulators have broadened their investigation into the alleged $8bn Ponzi scheme run by Allen Stanford, the Texan billionaire, to include brokerage executives who invested their clients’ money in Stanford International Bank products. JPMORGAN CUTS BACK ON US SILVER FUTURES JPMorgan has quietly reduced a [...]
CITY MOVES | WHO’S SWITCHING JOBS November 7, 2010 Ruffer The investment management house has appointed Sir David Clementi, pictured, and Robin Hindle Fisher as non-executive directors. Clementi, a former Bank of England deputy governor and chairman of Prudential, will be Ruffer’s new deputy chairman. He is also currently chairman of King’s Cross Central. Fisher has spent over 25 years in institutional fund management [...]
CITY MOVES | WHO’S SWITCHING JOBS November 7, 2010 Ruffer The investment management house has appointed Sir David Clementi, pictured, and Robin Hindle Fisher as non-executive directors. Clementi, a former Bank of England deputy governor and chairman of Prudential, will be Ruffer’s new deputy chairman. He is also currently chairman of King’s Cross Central. Fisher has spent over 25 years in institutional fund management [...]
Big businesses hit by a carbon stealth tax October 20, 2010 GREEN energy campaigners were horrified yesterday as the government quietly introduced a shock £1bn stealth tax on firms’ carbon emissions. Amid a spending review which was generally positive for the cleantech industry, the coalition said it would scrap plans to “recycle” contributions to the Carbon Reduction Commitment (CRC) energy efficiency scheme back to the organisations [...]
Hitting all keys at once hides the tune October 12, 2010 ERIC Morecambe famously played all the right notes, but not necessarily in the right order. Narrative reporting – the non-financial context provided alongside financial information in a firm’s annual report – is likewise playing all the right notes, but the result is just as incoherent: it is playing all its notes at the same time. [...]
PwC first to add senior City figures to the board September 26, 2010 ACCOUNTING firm PwC is set to become the first accountancy practice to add independent directors to its board after the appointment of three senior businessmen as non-executive directors. Former Rio Tinto chairman, Paul Skinner will be joined by WM Morrison chairman Sir Ian Gibson and Cable & Wireless chairman Sir Richard Lapthorne as independent directors [...]
Accountants hit as FTSE 100 skimps on bills September 6, 2010 DESPITE increasing fees during 2010, top accountants in the UK have reported a three per cent decline in the amount they collected from FTSE 100 clients, new research shows. During the 2009 to 2010 financial year, FTSE 100 companies paid £891.9m in both audit and non-audit fees, marking a drop from the previous year when [...]