WHAT THE OTHER PAPERS SAY THIS MORNING June 17, 2009 FINANCIAL TIMES FEDEX SWINGS TO FOURTH-QUARTER LOSSFedEx executives told investors they believed the worst of the economic downturn was behind them. The note of optimism came during an otherwise sobering review of the package-delivery company’s fiscal fourth quarter, during which its net loss widened from a year earlier on goodwill writedowns, and the company warned [...]
Michael Page: UK job market is stabilising July 7, 2009 SHARES in job market bellwether Michael Page rose yesterday after its chief executive Steve Ingham said that it had seen a stabilisation in some markets but did not expect a firm recovery until next year. “I wouldn’t say the shoots are green out there but there’s some stabilisation which is reassuring,” Ingham said. The statement came as [...]
Liverpool in turmoil after owners lose 46m in year June 4, 2009 THE FUTURE of Liverpool owners Tom Hicks and George Gillett is in “significant doubt” unless £350m of debt is refinanced before next month’s deadline, the club’s accountants KPMG warned last night. Kop Football (Holdings) Ltd, the parent company of Americans Hicks and Gillett, made a £42.6m loss for the year ending July 2008, according to [...]
Liverpool in turmoil after owners lose 46m in year June 4, 2009 THE FUTURE of Liverpool owners Tom Hicks and George Gillett is in “significant doubt” unless £350m of debt is refinanced before next month’s deadline, the club’s accountants KPMG warned last night. Kop Football (Holdings) Ltd, the parent company of Americans Hicks and Gillett, made a £42.6m loss for the year ending July 2008, according to [...]
CITY MOVES WHO’S SWITCHING JOBS June 1, 2009 HermesThe fund manager has appointed Saker Nusseibeh as head of investments. Nusseibeh, who will also join the Hermes main board, joins from Fortis Investments, where he was global head of equities and chief information officer for global equities. He was previously managing director of international equities and chief information officer for global equities at TCW/ [...]
CITY MOVES WHO’S SWITCHING JOBS June 1, 2009 HermesThe fund manager has appointed Saker Nusseibeh as head of investments. Nusseibeh, who will also join the Hermes main board, joins from Fortis Investments, where he was global head of equities and chief information officer for global equities. He was previously managing director of international equities and chief information officer for global equities at TCW/ [...]
ADMINISTRATORS: THE PWC TEAM HANDLING THE WIND-UP OF LEHMAN BROTHERS May 26, 2009 THE administration process in the UK is being conducted by PricewaterhouseCoopers, whose team is led by the quartet of Tony Lomas, Steven Pearson, Dan Schwarzmann and Mike Jervis. A mammoth taskforce of 250 PwC staff work under the four lead administrators, alongside a further 500 Lehman staff, who are assisting with the process. The PwC [...]
Labour market deteriorates further but slower pace fuels hope of recovery June 2, 2009 THE labour market continued to deteriorate in May, but the pace of decline slowed for a third month and experts said there are signs of recovery. Permanent placements fell for the fourteenth consecutive month, but at the slowest pace since last July, while temporary billings declined at the weakest rate since September. But the monthly [...]
Omega joins the big boys on the main London Stock Exchange market space July 7, 2009 OMEGA Insurance, the Lloyd’s of London underwriter, has ascended to the main market of the London Stock Exchange, after it last week boosted its control of Lloyds’ successful Syndicate 958. The insurer yesterday left the smaller Aim space to join bigger rivals on the main market, and is now one of seven non-life insurers on [...]
CITY MOVES WHO’S SWITCHING JOBS June 28, 2009 Securities and Investment InstituteAlan Fleming, an associate at investment management firm JM Finn, has been elected president of the Yorkshire branch of the Securities and Investment Institute (SII). Fleming, 53, joined JM Finn in 2003 and continues to be involved with the management of client portfolios after 25 years in the investment management industry. He [...]