Ex-policymaker wants Bank to plan for interest rate hike November 7, 2012 THE BANK of England should abandon quantitative easing (QE) for the time being, and plan on bringing the base interest rate back up towards “sustainable” levels by mid-2015, ex-ratesetter Andrew Sentance said today. The risks of the bank’s “very loose” monetary policy are beginning to outweigh the benefits, Sentance argued, especially when the economy is [...]
Investors set to lose out from new EU rules October 29, 2012 MOST alternative investment managers are unprepared for incoming European regulations, which could leave them unable to offer services to investors from July 2013, according to a PwC study published yesterday. The consulting firm found 85 per cent of managers have not started compliance or implementation programmes to meet the incoming Alternative Investment Fund Managers Directive [...]
Investors set to lose out from new EU rules October 29, 2012 MOST alternative investment managers are unprepared for incoming European regulations, which could leave them unable to offer services to investors from July 2013, according to a PwC study published yesterday. The consulting firm found 85 per cent of managers have not started compliance or implementation programmes to meet the incoming Alternative Investment Fund Managers Directive [...]
Small firms get funding boost from ISA plans December 5, 2012 SMALL FIRMS could enjoy a lending boost, depending on the results of a consultation announced yesterday. The government consultation will consider allowing savers to invest in firms on the alternative investment market (AIM) via their stocks and shares ISA. This came in tandem with a hike in the yearly individual tax-free savings limit – bringing it from [...]
Job losses at Manganese Bronze October 31, 2012 ■ Manganese Bronze’s administrator PwC has cut 156 jobs at the struggling maker of London’s black taxis. The majority of jobs were cut at a manufacturing site in Coventry, while other positions have gone at dealerships across the country. PwC is now trying to get to the bottom of a steering box fault that led [...]
City Moves for 27 February 2013 | Who’s switching jobs February 26, 2013 Lloyds The bank has announced the appointment of David Weatherhead as regional trade director for London and the south east. He will focus on medium-sized businesses with turnovers of up to £500m. Weatherhead has over 24 years’ banking experience, and joins Lloyds from RBS. He sits on the London Chamber of Commerce’s Security and Defence [...]
State pension age is moving towards mid-80s, warns PwC May 14, 2012 INCREASING the pension age in line with life expectancy could add a decade to the average working life of a child born this year, according to PwC estimates published yesterday. The state pension age will rise to 67 by 2028 under current plans, but will have to rise to 68 by 2031 to keep up [...]
BG Group switches audit firm October 24, 2012 FTSE 100 gas company BG Group yesterday announced it had ditched PwC as its auditor, replacing it with Ernst & Young. PwC had spent 12 years auditing the books of the firm following its float in 2000. PwC UK head of assurance James Chalmers said: “We operate in a fiercely competitive market where all participants [...]
BG Group switches audit firm October 24, 2012 FTSE 100 gas company BG Group yesterday announced it had ditched PwC as its auditor, replacing it with Ernst & Young. PwC had spent 12 years auditing the books of the firm following its float in 2000. PwC UK head of assurance James Chalmers said: “We operate in a fiercely competitive market where all participants [...]
Phoenix IT swings to loss after manipulated books discovered November 29, 2012 ACCOUNTING irregularities have forced business software firm Phoenix IT into a £68m writedown, the company said yesterday. The impairment, which led to the downfall of chief executive David Courtley and the sacking of Phoenix IT’s auditors Deloitte in October, dragged the company into a pre-tax loss of £63.3m in the six months to October. The [...]