Top earners face tax squeeze August 20, 2009 High earners in the UK will face one of the toughest fiscal regimes in Europe when new income tax hikes come into effect next year, according to accountancy giant KPMG. Currently, the UK has a top tax rate of 40 per cent on earnings above £43,435, making it the twelfth most onerous country for high [...]
Top earners face tax squeeze August 20, 2009 High earners in the UK will face one of the toughest fiscal regimes in Europe when new income tax hikes come into effect next year, according to accountancy giant KPMG. Currently, the UK has a top tax rate of 40 per cent on earnings above £43,435, making it the twelfth most onerous country for high [...]
CITY MOVES WHO’S SWITCHING JOBS October 26, 2009 KPMGThe accountancy firm’s forensic practice has recruited Nigel Layton, the founder of specialist corporate investigations firm Quest, as a director in the corporate intelligence team. Layton set up Quest in 1995 and has since built up its reputation via cases including an inquiry for the Premier League into allegations of irregular payments surrounding certain football [...]
Blacks closes 90 stores and axes 50 staff September 30, 2009 OUTDOOR goods retailer Blacks Leisure plans to close 89 loss-making stores and axe about 50 head-office jobs, it said yesterday, as part of a recovery plan it hopes will win the support of its banks. The firm, which has over 400 stores including the Blacks Outdoor and Millets chains, said the job losses represented about [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 1, 2009 FINANCIAL TIMESFORD SELLS AUSTRALIAN LOAN BOOK TO MACQUARIEFord, the US carmaker that underwent a debt-for-equity swap this year to bolster its balance sheet, has quit Australia’s retail car finance market after selling a A$1bn (US$874m) motor loan portfolio to Macquarie Group. The Australian investment bank is expanding its presence in the sector as well as [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 1, 2009 FINANCIAL TIMESFORD SELLS AUSTRALIAN LOAN BOOK TO MACQUARIEFord, the US carmaker that underwent a debt-for-equity swap this year to bolster its balance sheet, has quit Australia’s retail car finance market after selling a A$1bn (US$874m) motor loan portfolio to Macquarie Group. The Australian investment bank is expanding its presence in the sector as well as [...]
CITY MOVES WHO’S SWITCHING JOBS October 7, 2009 NomuraThe Japanese banking group has hired Peter Westaway, a Bank of England veteran, as its new chief economist for Europe. Westaway previously spent 13 years at the Bank in senior roles, covering macro economic forecasting, policy and financial market analysis. He also spent time working at the UK Treasury and the National Institute of Economic [...]
JPM Caz still dominating adviser arena August 31, 2009 JP MORGAN Cazenove comfortably retained its broking and financial advisory dominance over the third quarter of the year, according to the latest statistics from financial data group Hemscott. JP Morgan Cazenove gained eight broking clients, increasing its total tally to 236, of which 40 were FTSE 100 firms. Numis Securities and Brewin Dolphin rank second [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 18, 2009 FINANCIAL TIMES LLOYDS OFFLOADS MALL FOR £300MHammerson, the UK real estate investment trust, has emerged as the preferred buyer of a £300m shopping mall near Glasgow being sold by Lloyds Banking Group after the original owner defaulted on the loan. The UK commercial property market has seen few sales by the larger lending banks, in [...]
Burden of pensions for ex-staff mounts August 12, 2009 BLUE CHIP companies are now being forced to spend more covering shortfalls on the pensions of former staff than they do on the future pensions of existing employees, according to research released yesterday. Within five years, payments made to top up the pensions of previous employees will outstrip those for current staff by a ratio [...]