PwC: Credit card market must innovate to survive November 8, 2009 THE CREDIT card market needs urgent change to survive, with bad debts reaching historic highs, according to new data out today. The PricewaterhouseCoopers (PwC) Precious Plastic report will show that bad debts have reached a record six per cent, and the accountancy firm predicts that this figure will climb to nine per cent by the [...]
WHAT DOES THE CHANCELLOR’S BUDGET MEAN FOR YOU? June 22, 2010 KATE SOLWAY, 30 FUNDS CONTROLLER AT PRIVATE EQUITY FIRM COGNETAS Kate is single and lives in rented accommodation. She also owns two investment properties – one a London flat with a mortgage which she rents out, and the other a holiday home under construction in west Africa’s Cape Verde, on which she does not have [...]
A SUITABLY SPIRITED SENDOFF TO SIR STUART July 14, 2010 WE’LL begin by heading over to the Royal Festival Hall for Marks and Sparks’ annual general meeting, where the usual fun and games were to be had. Hundreds of ageing M&S veterans queued up for the speeches, stage antics and free food and drink, armed with piercing questions for Sir Stuart Rose and his successor, [...]
Lehman sets claims plan April 15, 2010 LEHMAN Brothers plans to hand creditors between 15 and 27 per cent of their £1 trillion claims as part of the stricken bank’s proposal to exit bankruptcy. The plan is part of a US court disclosure statement filed earlier this week and gave insight into how the bank would attempt to end its bankruptcy. The [...]
Companies still choosing to list on Aim despite alternative of Standard Listing April 11, 2010 THE number of companies choosing to float on the Alternative Investment Market (Aim) has remained robust despite fresh competition from the new Standard Listing on the London Stock Exchange (LSE). Standard Listing was introduced by the LSE in April last year and was expected to lead to a mass exodus of companies from the Aim [...]
Lehman’s PwC fees near record October 19, 2009 Accountancy fees and legal fees for the winding-up of Lehman Brothers in Europe are nearing record highs for fees charged on this continent. PricewaterhouseCoopers said it charged £154m in fees for work on the company just in its first year on the case. And law firm Linklaters has run up £68.9m in fees to 14 [...]
AFTER FINANCE AND FILMS, CITY VETERAN IS STILL FULL OF BEANS June 24, 2010 WILL that Stefan Allesch-Taylor ever stop adding to his already thickly-strung bow? A City veteran of some stature (quite literally: Allesch-Taylor stands a formidable 6’10” tall), he is best known as the founder of boutique Mayfair-based investment bank Fairfax. In addition to that, his CV lists top positions at any number of firms, including Clearbrook [...]
City gives lukewarm thumbs up to Osborne’s plan June 22, 2010 CITY stalwarts displayed cautious approval in the wake of the emergency Budget yesterday, as the chancellor’s plans settled some nerves over UK spending. CBI director-general Richard Lambert said the five-year route map for corporation tax “provides much-needed consistency and certainty”, which combined with proposals on foreign profits and intellectual property could reverse the tide on [...]
Banking firms see improved profitability March 28, 2010 ACTIVITY in the financial services sector stagnated in the first three months of the year but companies experienced improved profitability for the third successive quarter, according to a new survey published today by the Confederation for British Industry (CBI) and accountants Pricewaterhouse Coopers (PwC). The quarterly report of Britain’s financial services industry also reveals that [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 25, 2010 FINANCIAL TIMES WATCHDOG HINTS AT CURBS ON TARGETED WEB ADS Companies such as Google and Yahoo could face tougher scrutiny in the UK after the Office of Fair Trading said it could step in to regulate targeted advertising on the internet. The watchdog said that more needed to be done to ensure that consumer rights [...]