Advisers head to the Gulf as rumours swirl November 29, 2009 Aidan Birkett is beginning a week of intense negotiations as the full implications of Dubai World’s debt problems emerge. The managing director for corporate finance at Deloitte is leading the process to shore up Dubai World’s crippled finances. The state-owned property and financial conglomerate announced last week it needed a six-month respite from its debt [...]
Defender of business says a hung parliament would be disastrous February 7, 2010 HE MIGHT have parted company with the CBI four years ago, but Lord Digby Jones is still one of the staunchest defenders of the private sector. When he gives me his business card at the opening of a Vodafone store in the City, it is emblazoned with a motto that sums up his philosophy: “Only [...]
People still value the personal touch from banks November 17, 2009 LAST week saw the launch of NatWest’s personal banking iPhone app, in line with the banking sector’s efforts to cut costs and improve user experience by moving their operations online. Recent YouGov research undertaken on behalf of Deloitte points to the risks in an online strategy: customers place high value on face-to-face interactions in their [...]
CITY MOVES WHO’S SWITCHING JOBS November 25, 2009 ElectraThe private equity group has appointed Roger Perkin as a non-executive director. Perkin is a former senior partner at Ernst & Young, where he spent 40 years of his career. He was previously lead auditor to UBS from 1998 to 2005 and has worked for clients including 3i, Resolution and Henderson. He also recently advised [...]
Grant Thornton lags the Big Four November 19, 2009 GRANT THORNTON saw turnover fall four per cent over the past financial year as profit per partner dived nearly 20 per cent on costs related to its troublesome merger with rival Robson Rhodes. The fifth-biggest accountancy partnership said revenue fell 4.1 per cent to £378.2m in the year to 30 June. Chief executive Scott Barnes [...]
Loyal crowds galvanising top clubs against the recession October 6, 2009 TOP FLIGHT clubs have again demonstrated their ability to resist the effects of the downturn by posting strong attendance figures for the start of the season. Experts had expected clubs to feel the pinch more than ever in the current campaign, the first since Britain officially entered recession in January. But Premier League outfits have [...]
Big Four accountants retain hold over blue-chip audit jobs October 27, 2009 ATTEMPTS to inject more competition into firms that audit UK company books have suffered a setback as figures released yesterday showed the “Big Four” accountants maintaining their stranglehold on the sector. The Financial Reporting Council (FRC) set up a market participants group three years ago which made recommendations to spread this business more evenly. It [...]
Booze runs dry at off licence October 1, 2009 Administrators of the Wine Cellar off-licence and convenience store group have said 320 jobs will be lost at the company. The firm, which operates under the Booze Buster, Simply Drinks and Simply Food & Drinks brands, called in administrators Deloitte yesterday. The family-owned group had 170 stores but 109 have been sold to EFB Retail, [...]
Create loyalty through trust to retain key staff September 30, 2009 A REPORT by financial services and banking recruitment firm Robert Half released last week which polled 3,000 workers found that 37 per cent are planning to leave their jobs as soon as the economy is more stable, and half would leave within six months of the recession being officially declared over. While people normally move [...]
Executive bonuses hold up September 6, 2009 Executive directors in FTSE 350 companies have not seen reduced bonus payouts, even though 70 per cent will not get a pay rise this year, according to a Deloitte report. More companies are now paying non-cash bonuses and are deferring portions of the bonus or placing clawback provisions. Deloitte said the typical bonus payout is [...]