GOVERNANCE TRAINSPOTTERS GET KNICKERS IN A TWIST OVER FLINT September 27, 2010 IT’S been a tiring week for HSBC, which is currently juggling the handling of a full-scale management game of musical chairs, the fallout from its leaky succession-planning AND a band of disgruntled sticklers for corporate governance among its shareholder base. So it’ll come as a welcome surprise for the bank to learn that a conservative [...]
Don’t get caught out by CGT September 16, 2010 BRITONS are set to waste over half a billion pounds this tax year in unnecessary capital gains tax (CGT) payments, research from unbiased.co.uk revealed earlier this week. The professional advice website said that UK taxpayers will waste £552m by not being CGT-efficient and warned that the capital gains tax rate rise to 28 per cent [...]
Northern Rock finance boss is fined for fudging figures July 27, 2010 A FORMER Northern Rock finance director has been fined £320,000 and banned from working in banking. David Jones admitted allowing false mortgage figures to appear in a document released along with the firm’s accounts. He allowed the false reporting to continue for almost a year in the firm’s trading updates. The figures masked the extent [...]
Bankruptcies fall 21pc but overstretched borrowers find other ways to go bust August 4, 2010 PERSONAL bankruptcies fell to pre-recession levels in the second quarter, but the headline drop masked a rush by troubled consumers for alternative ways to resolve their woes. Despite a 21 per cent year-on-year decline in bankruptcies, 380 people entered into insolvency every day during the three months, according to accountancy firm RSM Tenon. Debt relief [...]
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 [...]
Bank lending to individuals stays weak August 24, 2010 MORTGAGE lending dropped to a five-month low in July with just 33,700 home loans approved, taking the annual percentage decline to 18.5 per cent, the British Bankers’ Association (BBA) said yesterday. Tighter lending conditions combined with subdued demand for home loans pushed mortgage approvals down last month. This is despite recent calls for the banks, [...]
Inflation puts strain on UK households February 22, 2010 THE rapid pace of inflation means that British households are still feeling the strain almost two months after the country officially emerged from recession, a survey revealed yesterday. Markit/YouGov data showed that UK consumer finances worsened again in February, partly because income levels were unable to keep pace with increases in prices for goods and [...]
William Asprey: the luxury king’s baby turns 10 October 26, 2010 IN a world in which global luxury giants like LMVH-owned Louis Vuitton have to close shop an hour early to preserve stock – so great is demand – it’s hard to imagine how a single family-owned shop in Mayfair can keep its head above water. And yet, thanks to the intuition and hard work of [...]
McLaren gets £260m boost for new sports cars July 25, 2010 FORMER Formula 1 racing boss and executive chairman of the McLaren Group Ron Dennis has successfully raised £260m to help fund a new sports car manufacturing business. McLaren Automotive, a subsidiary to the racing group, raised the new finance through a collection of new investors with a small portion of the funding raised through debt. [...]
McLaren gets £260m boost for new sports cars July 25, 2010 FORMER Formula 1 racing boss and executive chairman of the McLaren Group Ron Dennis has successfully raised £260m to help fund a new sports car manufacturing business. McLaren Automotive, a subsidiary to the racing group, raised the new finance through a collection of new investors with a small portion of the funding raised through debt. [...]