WINDFALL TAX PROFS WON’T BE FOBBED OFF August 13, 2009 THE City may have slammed ideas of a windfall tax on bonuses yesterday, but the group of university professors who originally mooted the idea in a letter to The Guardian are far from deterred. The dusty academics’ plans, which would see the money from the tax injected back into public services, were labelled “gratuitous”, “impossible” [...]
Hopes dim for Weavering investors’ cash May 31, 2009 LIQUIDATORS of Weavering Capital’s main hedge fund, at the centre of the UK’s first ever hedge fund fraud probe, have said there is likely to be no money available to return to investors. Experts at accountancy giant PricewaterhouseCoopers (PwC) believe it now looks certain a massive fraud has taken place and the only way investors [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 30, 2009 FINANCIAL TIMES VW BRACED FOR “ZERO GROWTH” IN CAR MARKETVolkswagen warned yesterday that it could face flat sales in 2010 as Europe’s largest carmaker reported a sharp profit drop in the second quarter. The third-biggest carmaker behind General Motors and Toyota said it expected “zero growth” in the car market next year. PRIVATE EQUITY SUFFERED [...]
City’s most successful accountant still has plenty of fire in his belly July 20, 2009 IT IS EASY to tell when you are nearing , Deloitte boss John Connolly’s office because an awful lot of people you bump into in the firm’s corridors begin to ask about his welfare. “Is John in?” asks one, a tad nervously. “What mood is he in today?” asks another. There is a feeling of [...]
CITY MOVES WHO’S SWITCHING JOBS August 6, 2009 LUUPTory MP Michael Howard has joined independent global mobile financial provider LUUP as chairman. The former home secretary is retiring from Parliament to develop an international business career. The position adds to his current business profile as chairman of Northern Racing, deputy chairman of Entrée Gold and a non-executive director of Helphire group. Tenon RecoveryTenon [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 12, 2009 THE SUNDAYSThe Sunday TelegraphFOCUS DIY CHAIN FACES TOUGH CREDIT REVIEWA review of Focus DIY’s financial position will be delivered by Ernst & Young (E&Y) to the group’s lenders this Friday to help them to decide whether to continue backing the DIY retailer. Although the lenders, GMAC and HBOS, have agreed in principle to renew a [...]
City supports Tory charge May 28, 2009 THE Conservative party has received a ringing endorsement by the City, as the publication of donations to political parties revealed a host of business figures have contributed to Tory coffers in the first quarter of the year. The largest single donor was hedge fund owner and former Man Group chief executive Stanley Fink, who announced [...]
CITY MOVES WHO’S SWITCHING JOBS June 4, 2009 PricewaterhouseCoopersJonathan Howe, a partner at the accountancy firm, has been appointed market leader of the UK insurance tax practice and a member of the UK insurance leadership team. Howe has 16 years of experience at PwC and will be leading a team of 10 insurance tax specialist partners and directors. He succeeds Anne Hamilton, who [...]
REVEALED: THE LOVELIEST CITY LADIES June 29, 2009 1. SARAH DAVISONRBS SEMPRA METALSIt’s finally official – the gorgeous Miss Davison, who has graced the pages of City A.M. several times since her initial appearance on the front cover last year, is the loveliest lady the business world has to offer. Sarah has worked as a metals trader for RBS Sempra Metals for around [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 1, 2009 FINANCIAL TIMES CANDOVER FACES RUN-OFF IF BUYER CANNOT BE FOUNDCandover faces a crucial month as the ailing private equity group pushes to raise capital and cut costs before a key test of its debt covenants on 30 June. The group needs cash urgently and is considering a range of options, including an outright takeover, selling [...]