Goldman Sachs are reviewing their relationship with Sir Philip Green after doomed BHS sale June 29, 2016 Goldman Sachs' vice chairman told MPs today that the firm's involvement in the doomed sale of BHS had not helped its reputation. Responding to a question from committee chair Iain Wright on whether Goldman Sachs' involvement in the BHS saga had helped the bank's reputation, vice chairman Michael Sherwood said: "No." "We have been reviewing Goldman's relationship with Philip green at this [...]
Be careful what you wish for: Seven Brexit takeaways June 27, 2016 The result of the UK’s EU referendum came as a massive shock to the markets and was no fun for a large number of people. Unlike those in the Remain camp, who pointed to the market turmoil yelling “I told you so”, it gives me no sense of schadenfreude thinking of people seeing their pension [...]
BHS fiasco rumbles on as Goldman Sachs and The Pensions Regulator due to reappear in front of the committees next week June 26, 2016 The BHS saga starts a new chapter next week, with two more evidence hearings due to take place in parliament. On Tuesday afternoon, the Work and Pensions committee and Business, Innovation and Skills committee are set to hear from Alex Dellal, Allied Commercial Exporters, Paul Sutton, Lesley Titcomb, chief executive of The Pensions Regulator and Neville Kahn, managing partner, financial [...]
BHS saga continues: Chappell comes under spotlight as MPs scrutinise funds he used June 23, 2016 Ever since BHS collapsed into administration, recriminations have flown about who is to blame for the parlous state of its finances, particularly with regard to the £571m pension deficit. Today, the spotlight fell again on Dominic Chappell, the former racing car driver and bankrupt whose outfit Retail Acquisitions bought BHS for £1 off from its [...]
ECB unlocks funding for Greek banks in latest step of recovery June 22, 2016 The European Central Bank (ECB) has signalled the latest step in the Greek recovery this afternoon, as it geared up to reinstate emergency funding for Greek banks. Eurozone banks are usually able to get cheap loans from the ECB under its regular financing operations. However, that help was called in during the 2015 bailout saga as Greece teetered [...]
Brexit causes gold rush – experts predict prices will hit $1,400 by month end if the UK votes to leave the EU June 21, 2016 The risk of Brexit has pushed up the price of gold, with every tightening of the bookmakers’ odds giving a boost to the value of the precious metal. The price of bullion is up 21 per cent so far this year, 8 per cent of which has come in the last month. Gold prices reached a [...]
Thames Tideway Tunnel: Digging deep to avoid the next big stink June 19, 2016 When asked to think of major infrastructure projects taking place in London, the first to come to mind for many will be Crossrail. But there is another transformational infrastructure development taking place beneath our feet that will arguably change London over the next century more than any single train line ever could and which, for [...]
Petroceltic power struggle comes to a close with Worldview gaining control and CEO Brian O’Cathain bowing out June 16, 2016 The long-running battle for control at exploration company Petroceltic has reached a conclusion with shareholder Worldview Capital assuming full control of the company. This follows a decision by an examiner yesterday. The existing share capital of Dublin-based Petroceltic will be cancelled today. The entire Board of Petroceltic has stepped down. Chief executive Brian O'Cathain and chief [...]
Arsenal target Jamie Vardy set to delay decision on future until after Euro 2016 June 7, 2016 Striker Jamie Vardy looks set to adhere to the wishes of England manager Roy Hodgson and postpone any decision over his domestic future until after the European Championship. Arsenal triggered a £20m release clause in Vardy’s contract on Friday while the 29-year-old was expected to decide whether to join the Gunners or stay with Premier [...]
Striker Jamie Vardy’s future still unclear as England arrive in France to Roy Hodgson warning about priorities June 6, 2016 England touched down at Le Bourget Airport this afternoon for the European Championship with striker Jamie Vardy’s future still a matter of some considerable debate. Vardy was expected to decide whether to join Arsenal, who have activated a clause in the former non-league forward’s contract, or remain with Premier League champions Leicester before the England [...]