BRANSON ON LOOKOUT FOR SPACE RACE BUDDY September 29, 2009 MUCH is resting on tycoon Sir Richard Branson’s hotly-anticipated new venture to infinity and beyond. Virgin Galactic – which plans to fly the first commercial passenger flight into space within the next couple of years – is well underway with planned test flights for its spaceship and carrier aircraft, more than a decade after the [...]
TOP THINK-TANK: RECESSION OVER September 8, 2009 BRITAIN’S economy has finally started to grow again, according to data published yesterday by the National Institute of Economic and Social Research (NIESR), one of the UK’s most respected forecasters. The NIESR figures showed that GDP rose by an estimated 0.2 per cent in the three months to August, the first time it has risen [...]
CANTERBURY TRIES BUT FAILS July 13, 2009 THE European arm of rugby shirt maker Canterbury yesterday fell into administration, with the loss of 72 jobs in the UK. Canterbury Europe supplies teams including the London Wasps, Leinster and the Scottish national side. Administrators KPMG said all contracts with clubs have now been cancelled. The rest of Canterbury Group, including the global Canterbury [...]
CITY MOVES WHO’S SWITCHING JOBS September 3, 2009 Pinsent MasonsThe law firm has appointed Raymond Beven as a London-based partner, responsible for leading the transport team within the firm’s projects and international construction group. Beven will be tasked with working across a broad transport portfolio including airports, rail and ports and projects in the Middle East, Caspian region and Europe. He joins from [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 27, 2009 THE SUNDAYSThe Sunday TelegraphFSA TOLD TO CLEAN UP OIL MARKETSThe Financial Services Authority has been told to examine its statutes to ensure it can prosecute oil speculators practising market abuse. The financial watchdog must also consider bringing in stronger measures to detect speculators using techniques such as phone-tapping, as well as ensuring they have enough [...]
GRINDING TO A HALT July 8, 2009 COFFEE Republic, the chain which fell into administration earlier this week, named 20 group-owned stores which will close yesterday. The list of stores to shut up shop includes London branches in Canary Wharf and on the King’s Road. Another 167 franchises and concessions will not be affected, said administrator KPMG.
Reds seal refinancing deal with RBS and Wachovia July 27, 2009 LIVERPOOL’S owners have ended months of uncertainty by refinancing £290m of debt they accrued in buying the club. The deal with Royal Bank of Scotland and Wachovia is believed to have extended Tom Hicks and George Gillett’s repayment period for a year. The Americans are also thought to have agreed to pay back £60m of [...]
Revenue slide for Deloitte August 3, 2009 ACCOUNTANCY giant Deloitte yesterday said its revenues slid by 2 per cent in the year to the end of May, as the financial crisis weighed on its tax and corporate finance activities. Senior partner John Connolly reported profits distributable to partners of the firm of £601m, and revenues of £1,970m, in a blow to his [...]
Over three quarters of investors trust politicians more than financial advisers June 22, 2009 OVER three quarters of investors believe financial intermediaries, such as client-facing advisers, are less trustworthy than politicians, according to a survey. Intermediaries are perceived as being untrustworthy and lacking knowledge, perhaps as a result of poor education by investment managers on complex products and risk management practices, according to the KPMG/Datamonitor study. “It is little [...]
Over three quarters of investors trust politicians more than financial advisers June 22, 2009 OVER three quarters of investors believe financial intermediaries, such as client-facing advisers, are less trustworthy than politicians, according to a survey. Intermediaries are perceived as being untrustworthy and lacking knowledge, perhaps as a result of poor education by investment managers on complex products and risk management practices, according to the KPMG/Datamonitor study. “It is little [...]