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 [...]
No compensation for B&B investors July 5, 2010 The Treasury does not have to pay compensation to former shareholders of buy-to-let lender Bradford & Bingley (B&B), an independent valuer said yesterday. B&B, a leading buy-to-let mortgage provider that was hit by a sharp rise in funding costs during the financial crisis, was taken into public ownership in September 2008 and its shares were [...]
BARCAP WINS BRAGGING RIGHTS IN A SQUARE MILE RELAY VICTORY September 9, 2010 TO THE heart of London’s financial community last night for one of the most eagerly-anticipated competitive moments of the year – the annual Bloomberg Square Mile Relay. No less than 100 teams of ten runners thronged the streets to take part in the relay, after months of boot camp-style training regimes to win bragging rights [...]
PwC fights to get cash for FlyGlobespan January 5, 2010 ADMINISTRATORS of collapsed Scottish airline FlyGlobespan are taking legal action against a firm responsible for the carrier’s online ticket sales. PriceWaterhouseCoopers (PwC) is pressing ahead with a High Court petition filed around the time when the airline entered administration last month to force E-Clear to reveal whether it holds £35m withheld from the carrier. A [...]
Accountants told to step up audit quality July 20, 2010 BRITAIN’S big four accountants were criticised by an independent review this morning for the “disappointing” quality of their audit work. One in ten audits produced by the major firms fell below the proper standards, the Audit Inspection Unit (AIU) said. Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers – along with smaller competitor PKF – were [...]
A-Levels not enough, say City bosses August 19, 2010 BUSINESS leaders have called for more young people to study for practical qualifications as well as traditional A-Levels to stand out in the increasingly competitive fight for jobs. Around 170,000 applicants are expected to miss out on a university place this year, despite a record 97.6 per cent of students passing their A-Levels yesterday. Director [...]
A-Levels not enough, say City bosses August 19, 2010 BUSINESS leaders have called for more young people to study for practical qualifications as well as traditional A-Levels to stand out in the increasingly competitive fight for jobs. Around 170,000 applicants are expected to miss out on a university place this year, despite a record 97.6 per cent of students passing their A-Levels yesterday. Director [...]
Three cheers for the stars of the Square Mile October 28, 2010 LAST night was truly an exciting and exceptional occasion: City A.M.’s inaugural awards celebrating the best and brightest of London’s business, financial and investment communities. Our inaugural awards ceremony saw more than 450 guests in their finery roll up at the Grange Hotel at St Pauls. Our winners, unique in that each was initially chosen [...]
AIG settles in $725m Ohio fraud lawsuit July 18, 2010 INSURER American International Group (AIG) has been ordered to cough up $725m (£473.7m) in compensation to its Ohio pension fund shareholders, as part of a settlement of a long-running securities class action lawsuit against the firm. AIG was accused by the pension funds and the Ohio attorney general’s office of anti-competitive market practices, including a [...]
High achievers look beyond red bricks August 17, 2010 TOMORROW is a date that thousands of families across England and Wales will have indelibly committed to memory. Far from being merely another summer’s day, Thursday 19 August 2010 is A-Level “results day”, a make-or-break day for the career and life plans of thousands of 17 and 18-year-olds. For many, results day will simply confirm [...]