SINKING FEELING FOR MAROONED TECH MOGUL August 16, 2011 TRAGEDY was narrowly averted on Monday night, after the sea almost claimed the life of American businessman George David in the Rolex Fastnet Race. Shortly after rounding Fastnet Rock, David’s yacht Rambler 100 capsized in high seas after the keel broke off with a “sickening sound”, sweeping the former United Technologies chairman into the Irish [...]
CITY MOVES | WHO’S SWITCHING JOBS July 5, 2011 Daiwa Capital Markets The investment banking arm of Japanese brokerage Daiwa Securities Group has appointed Keith Meekins as chief executive of its subsidiary firm Daiwa Capital Markets Europe. Meekins, who was previously head of fixed income and a member of the firm’s executive committee, will lead the investment bank’s strategy across Europe and the Middle [...]
Heavy cuts and a higher pension age are needed to avoid public debt crisis July 5, 2011 GOVERNMENT debts will hit 90 per cent of GDP by 2050 unless the UK raises the retirement age to 70 and embarks on severe fiscal tightening, according to a hard-hitting report from PricewaterhouseCoopers released this morning. The welfare state faces a demographic time-bomb due to an ageing population and rising healthcare and elderly care costs. [...]
Heavy cuts and a higher pension age are needed to avoid public debt crisis July 5, 2011 GOVERNMENT debts will hit 90 per cent of GDP by 2050 unless the UK raises the retirement age to 70 and embarks on severe fiscal tightening, according to a hard-hitting report from PricewaterhouseCoopers released this morning. The welfare state faces a demographic time-bomb due to an ageing population and rising healthcare and elderly care costs. [...]
Jane Norman pre-pack deal sparks a row June 28, 2011 ADMINISTRATORS to struggling retailer Jane Norman yesterday sold off 33 stores in a controversial pre-pack administration that has refueled the debate into this route for insolvent companies. Edinburgh Woollen Mills, which was lined up as a buyer by PwC before the company was handed over to its administrators Zolfo Cooper, has agreed to buy a [...]
Citi releases $2.5bn in Lehman assets June 29, 2011 US bank Citigroup has agreed to release more than $2.5bn (£1.6bn) of assets to the European arm of the Lehman Brothers estate to be divided among the failed banks’ creditors. Citi has negotiated a deal with PricewaterhouseCoopers, the administrators of Lehman Brothers’ European estate, to release the assets from its custody business. It will begin [...]
Accountants can be counted upon to face challenge of climate change November 15, 2011 HEAD OF ACCA UK LATER this month, thousands of climate change experts, government negotiators, campaigners, and business people will be gathering in Durban, South Africa for the seventeenth annual meeting of the signatories to the UN Framework Convention for Climate Change. Or, more simply, COP17. The ultimate objective of each COP (Conference of the Parties) [...]
CITY FIGHTS FOR SEATS AT KEYNES VS HAYEK July 26, 2011 FORGET silk shorts, gum shields and sweatbands, the only kit needed for last night’s big fight in the City was a thinking hat firmly on your head and a grasp of twentieth century economic theory. At “Keynes vs Hayek”, the latest in a series of public debates hosted by the London School of Economics, some [...]
CITY FIGHTS FOR SEATS AT KEYNES VS HAYEK July 26, 2011 FORGET silk shorts, gum shields and sweatbands, the only kit needed for last night’s big fight in the City was a thinking hat firmly on your head and a grasp of twentieth century economic theory. At “Keynes vs Hayek”, the latest in a series of public debates hosted by the London School of Economics, some [...]
Leadenhall Triangle sale completed June 21, 2011 HENDERSON Global Investors has completed the purchase of the Leadenhall Triangle site for around £190m, the fund manager announced yesterday. The Triangle, which encompasses five sites in the City including Leadenhall Street and Fenchurch Street, was sold following interest from 11 potential bidders. The plot’s previous owners, who were clients of Investream, hired debt-servicing specialist [...]