CITY MOVES | WHO’S SWITCHING JOBS February 9, 2012 ICAEW Arthur Bailey has been elected as the next vice-president of the Institute of Chartered Accountants in England and Wales (ICAEW). Bailey, who will take office on 13 June, has served on ICAEW’s council for 14 years, including three years as chairman of the audit committee, and is a member of the board. He is [...]
Firms won’t be forced to offer third way pensions April 9, 2012 THE GOVERNMENT will not force companies to offer new “defined ambition” pensions, minister Steve Webb said yesterday as he announced plans to find a third way for private sector workers to save for their retirements. Webb wants more businesses to offer pensions that guarantee some certainty for employees, despite the near extinction of defined benefit [...]
Greece’s latest austerity promise isn’t worth the paper it’s printed on February 13, 2012 LONG-TERM investors could be forgiven for putting their hands over their ears at the mere mention of the Eurozone – at the very least it will better assure their continued sanity. But traders are cut from a different cloth and see opportunities in volatility. Despite the relief following the latest agreement for the Greek government [...]
Tesco keeps on losing share to cut price rivals February 29, 2012 LEADING supermarket Tesco failed to increase sales as quickly as its rivals in the last 12 weeks, data out yesterday showed, while leaked documents showed the Co-op is well behind its sales targets already this year. Tesco’s sales rose 2.5 per cent in the 12-week period ending 19 February, compared with the same period last [...]
Making things is not a soft option in the UK today March 26, 2012 IN THE last twenty years, I have watched the decline of British manufacturing, particularly in my own textile sector. While prices for food and luxury goods have risen steadily, high street clothing prices have become so cheap that UK manufacturers cannot be competitive in the mass market. According to the Working Futures report, which analyses [...]
CITY MOVES | WHO’S SWITCHING JOBS March 12, 2012 Grainger Laure Duhot will be joining the UK’s largest listed residential property landlord in the new role of director of strategic capital markets. She will oversee Grainger’s evolving business strategy, with specific focus on the creation and management of new joint ventures, funds and strategic alliances. Duhot has worked extensively in investment banking and global [...]
FTSE buoyed by miners and banks March 8, 2012 The FTSE 100 pushed higher this morning as investors gained confidence in Greece’s chances of completing a lifesaving bond swap later today. Major banks and pension funds, representing about 40 per cent of Greece’s outstanding debt, threw their weight behind Athens’ bond swap offer to private creditors yesterday. That should be eno€130bn fund for Greece [...]
The week ahead: Oil, gas, defence and UK interest March 4, 2012 Today Petrofac, a solutions provider to the oil and gas industry, announces full year results today. The first set of results after a restructuring exercise in 2011 could see a hike in profits. Petrofac has recently been awarded an Iraqi oilfield project, building on its presence in the region. Glencore is announcing its full-year numbers [...]
FTSE Flat as Greek bailout gets the nod February 21, 2012 THE FTSE 100 was broadly flat this morning as Eurozone leaders agreed a second bailout for Greece after weeks of tortuous negotiations. Investors overall were encouraged by the move but there were still fears that the €130bn lifeline was only a short term fix for Greece which is drowning in debt. The deal was largely [...]
Oil surges on Iranian fears February 20, 2012 OIL prices surged yesterday after a defiant Iran banned sales to Britain and France, amid growing fears over the country’s nuclear ambitions. Brent crude nudged over $121 a barrel – the highest level for eight months – as the International Atomic Energy Agency (IAEA) arrived in Tehran to assess first hand the Islamic Republic’s controversial [...]