Retail sales hit by tax and inflation October 21, 2010 THERE is a simple reason why retail sales are beginning to fall, and it has very little to do with the Comprehensive Spending review. A triple whammy of limited pay rises, elevated inflation and tax increases have conspired to impoverish most of the public over the past year, a development that has been barely picked [...]
INSIDE THE MISCHIEVOUS MIND OF A FIXED INCOME BONDS ANALYST October 10, 2010 EVER wondered about the fantasies of a bonds analyst? Well, no, we can’t say we did either, until Evolution Securities’ Gary Jenkins decided to bare all in his column for Credit Matters. Fresh from his promotion to head of fixed income, Jenkins’ megalomaniacal ambitions know no limit: he imagines himself in a new role as [...]
IRISH BOW OUT OF POWERSCOURT BASH AS DUBLIN FENDS OFF EU AID November 16, 2010 CITY comunications advisory Powerscourt last night held its annual bash in Paramount, the 31st-floor bar of Centrepoint, but there were a few old favourites missing from the crowd. CEO Rory Godson, originally from Ireland, said he could only pass on his apologies from his Irish chums: “Our friends in Dublin have stayed at home to [...]
For accountants, qualifications are a matter of taste September 22, 2010 WHEN they get their first job, many accountants worry that they will be pigeon-holed by their qualification. ACA is seen as the City gold standard in some quarters, and those who aren’t offered it might worry that their ambition of becoming a FTSE 100 CEO will be thwarted. On the other hand, ACCA is a [...]
UK oil firms expand after consolidation August 8, 2010 BRITISH oil firms are stepping up expansion and investment after a year of consolidation, says research out today. Companies are making the most of relatively high and stable oil prices to fast track development, according to Deloitte’s biannual rankings of oil producers. Tullow Oil, the largest oil firm to trade exclusively in the UK with [...]
Lenders sell off Connaught loans August 4, 2010 Lenders to troubled housing maintenance firm Connaught have begun to sell off their loans to private equity firms. Barclays has already disposed of its exposure, while other non-primary lenders Bank of Ireland and Lloyds are understood to have made moves to sell out. “It’s just a sensible move to get rid of such risky assets,” [...]
MANAGING A HEDGE FUND? SIMPLE, IT’S LIKE DRIVING THE SCHOOL BUS September 26, 2010 YOU’VE got to hand it to Glenview Capital hedge fund manager Larry Robbins – The Capitalist has rarely heard such a creative defence of a period of negative returns. Robbins, in his latest newsletter to clients following a four per cent decline in his portfolio over the second quarter, touched on the equity markets and [...]
CITY MOVES | WHO’S SWITCHING JOBS July 26, 2010 Deloitte The accountancy giant has appointed Nick Sanderson to head up its real estate corporate finance advisory business. Sanderson joins Deloitte as a partner from Japanese bank Nomura, where he was a managing director and head of real estate investment banking. He has also previously worked at Lehman Brothers and UBS and has 10 years [...]
Three cheers for the stars of the Square Mile October 28, 2010 LAST night was truly an exciting and exceptional occasion: City A.M.’s inaugural awards celebrating the best and brightest of London’s business, financial and investment communities. Our inaugural awards ceremony saw more than 450 guests in their finery roll up at the Grange Hotel at St Pauls. Our winners, unique in that each was initially chosen [...]
Deloitte merges property unit with Drivers Jonas consultants January 21, 2010 DELOITTE has merged its real estate arm with property advisory firm Drivers Jonas to create a new business with revenues of £110m. The deal marks a push by the consultancy titan to expand its property capabilities. Around 650 Drivers Jonas partners will join a 50-strong team from Deloitte¹s corporate finance division. Drivers Jonas managing partner [...]