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 [...]
F&C adds two heavyweights to its board June 1, 2009 ASSET manager F&C has added a former PricewaterhouseCoopers (PwC) chairman and a former chief executive of rival Henderson to its board, in a bold reshuffle ahead of its shift to corporate independence. The group, currently being demerged from life insurer Friends Provident, named ex-Henderson chief executive Roger Yates as a non-executive director. He will be [...]
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 [...]
JP Morgan rules FTSE broking roost May 31, 2009 JP MORGAN Cazenove continues to dominate the FTSE broking world after gaining four new clients over the second quarter of the year, the latest adviser rankings guide from financial information company Hemscott has shown. JP Morgan Cazenove has a total of 228 clients, up from 224 at the end of the first quarter of 2009. [...]
JP Morgan rules FTSE broking roost May 31, 2009 JP MORGAN Cazenove continues to dominate the FTSE broking world after gaining four new clients over the second quarter of the year, the latest adviser rankings guide from financial information company Hemscott has shown. JP Morgan Cazenove has a total of 228 clients, up from 224 at the end of the first quarter of 2009. [...]
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 [...]
Booker raises profits while PwC decides fate of stake May 28, 2009 CASH-and-carry company Booker Group said yesterday its full-year pre-tax profits soared by 30 per cent, and that it expects to know the future of bankrupt bank Kaupthing’s stake in its business within days. The 22 per cent stake was previously held by Kaupthing Capital Partners but, following an Isle of Man court hearing on Wednesday, [...]
PwC in fight with US firms over Lehman May 26, 2009 THE ADMINISTRATORS of Lehman Brothers in the UK and the US are set to face off in a new row about the details of the former Wall Street giant’s bankruptcy proceedings. US administrators including KPMG and Alavarez & Marsal want the bankruptcy to be managed in a globally co-ordinated fashion, with all creditors subject to [...]
ADMINISTRATORS: THE PWC TEAM HANDLING THE WIND-UP OF LEHMAN BROTHERS May 26, 2009 THE administration process in the UK is being conducted by PricewaterhouseCoopers, whose team is led by the quartet of Tony Lomas, Steven Pearson, Dan Schwarzmann and Mike Jervis. A mammoth taskforce of 250 PwC staff work under the four lead administrators, alongside a further 500 Lehman staff, who are assisting with the process. The PwC [...]
AN ABUNDANCE OF GLITTER FOR THE ASIAN WOMEN OF ACHIEVEMENT May 21, 2009 LONDON’s most successful Asian ladies were out in force on Wednesday night for perhaps the sparkliest evening of the year, the Asian Women of Achievement Awards, in association with Lloyds TSB. The star-studded guest list included Prince Charles and Camilla, Duchess of Cornwall, as well as BBC Dragon James Caan, MP Tessa Jowell, Lib Dem [...]