Lehman art to raise £2m at auction August 8, 2010 ARTWORKS that once adorned the British and European offices of former banking powerhouse Lehman Brothers are to be auctioned off next month, according to the bank’s administrators. Works by the likes of Lucian Freud and Gary Hume and the sign that hung outside the bank’s office in Canary Wharf will be among the pieces up [...]
Lehman ruling favours hedgies August 2, 2010 UK HEDGE funds celebrated yesterday after the Court of Appeal ruled that their money, held by the European arm of Lehman Brothers Holdings, was not protected when the bank went bust in 2008. The ruling will see a number of hedge funds gain access to a $2.1bn (£1.3bn) pool of cash, which was segregated by [...]
Lords to quiz Big Four auditors over their role in banking crisis July 27, 2010 THE HOUSE of Lords has launched a wide-ranging review into the role of the Big Four accountants in the financial crisis. The economics affairs committee will probe auditors PwC, Ernst & Young, KPMG and Deloitte over whether they could have done more to alert investors to the risks in the banking system. The review piles [...]
CITY MOVES | WHO’S SWITCHING JOBS July 27, 2010 ERNST & YOUNG The accountancy firm has appointed Jonathan Summers to its information technology advisory team as a director focusing on strategic rationalisation, the process of removing technology complexity to improve business performance. Summer has over 14 years of experience with IBM, where his roles included establishing a global delivery capability for data migration in [...]
It’s time to reject the Van Gogh fallacy August 18, 2010 HOW far should your boss mess with your mind? Or to put it another way, is your mental health your employer’s business? First up, let’s have some numbers. Estimates of how many of the British workforce suffer mental health problems a year vary from one in three to one in six – probably it depends [...]
It’s time to reject the Van Gogh fallacy August 18, 2010 HOW far should your boss mess with your mind? Or to put it another way, is your mental health your employer’s business? First up, let’s have some numbers. Estimates of how many of the British workforce suffer mental health problems a year vary from one in three to one in six – probably it depends [...]
BID WAR BREAKS OUT AT LEHMAN ART SALE September 29, 2010 BIDDERS clamoured yesterday afternoon to snap up a piece of banking history, as the art collection from the UK offices of failed bank Lehman Brothers went under the hammer at Christie’s. The most frenzied bidding took place at the beginning of the auction, organised by administrators PwC, when the name sign from the bank’s reception [...]
BID WAR BREAKS OUT AT LEHMAN ART SALE September 29, 2010 BIDDERS clamoured yesterday afternoon to snap up a piece of banking history, as the art collection from the UK offices of failed bank Lehman Brothers went under the hammer at Christie’s. The most frenzied bidding took place at the beginning of the auction, organised by administrators PwC, when the name sign from the bank’s reception [...]
Financial firms fear looming regulation June 27, 2010 ACTIVITY in financial services firms over the past three months has increased at the fastest rate since September 2007, but market volatility meant that this growth was much slower than had been expected, the quarterly CBI/PwC Financial Services survey will show today. In the second quarter, a net nine per cent of firms said that [...]
Fabric lives on after firm is bought by private investors June 24, 2010 FABRIC nightclub will stay open after it was bought by private investors yesterday. The club’s Administrators PricewaterhouseCoopers (PwC) said Fabric 591, the company that owns the landmark venue, had been sold for an undisclosed sum to Fabric Life Limited, a company formed eight weeks ago by a group of supporters. It went into administration last [...]