Advisers head to the Gulf as rumours swirl November 29, 2009 Aidan Birkett is beginning a week of intense negotiations as the full implications of Dubai World’s debt problems emerge. The managing director for corporate finance at Deloitte is leading the process to shore up Dubai World’s crippled finances. The state-owned property and financial conglomerate announced last week it needed a six-month respite from its debt [...]
Optimism about recovery is misguided, says report November 29, 2009 The Bank of England’s optimism about the UK’s economic recovery is misguided, according to the latest Business Trends report from business advisors BDO Stoy Hayward. In its Quarterly Inflation report released earlier this month, the Bank of England reported that it expects the UK economy to grow by over 2.5 per cent by the end [...]
End of story for Borders November 26, 2009 BORDERS book store chain yesterday fell into adminstration and appointed insolvency and restructuring firm MCR at the eleventh hour after the firm’s adviser BDO Stoy Hayward pulled out at last minute due to a conflict of interest. BDO refused to comment. The ex-board of collapsed Woolworths recently warned that advisers should not act as administrators [...]
WHAT THE OTHER PAPERS SAY THIS MORNING November 25, 2009 FINANCIAL TIMES INVESTORS TO SIGN AVTOVAZ AID DEALShareholders in Russian car maker Avtovaz will sign a rescue deal for the near-bankrupt firm at a meeting near Paris this week, Yuri Ushakov, the Russian Prime Minister’s deputy chief of staff, said yesterday. SATYAM SHARES TUMBLE OVER FRESH CHARGESShares in Mahindra Satyam, the fraud-hit IT services group, [...]
QUEEN SENT FROM RUSSIA WITH LOVE November 17, 2009 FIRST there was Bobby George; the Bobby Dazzler, the King of the Bling, the first true bastion of darting glitz and glamour. Then, there was Andy Fordham. Thirty-one stone at his peak, hair down to his backside and regular consumer of 25 bottles of Holsten Pils before going on stage. Equally adored by his public. [...]
WHAT THE OTHER PAPER SAY THIS MORNING November 15, 2009 THE SUNDAYSThe Sunday TelegraphUK FACES MAJOR OBSTACLES IN BID TO BE A LOW-CARBON LEADERThe UK risks missing out on its slice of the £4.5 trillion low-carbon industry, the manufacturers’ trade body has warned. The EEF said the country faces major obstacles to becoming a leading centre for so-called “cleantech” products and services, “most notably question [...]
Big Four accountants retain hold over blue-chip audit jobs October 27, 2009 ATTEMPTS to inject more competition into firms that audit UK company books have suffered a setback as figures released yesterday showed the “Big Four” accountants maintaining their stranglehold on the sector. The Financial Reporting Council (FRC) set up a market participants group three years ago which made recommendations to spread this business more evenly. It [...]
SPORT IN BRIEF October 21, 2009 Kaymer aiming for top spotGOLF: Martin Kaymer is looking to reclaim his lead in the Race of Dubai this weekend when he makes his comeback in the Castello Masters in Portugal. German Kaymer has missed two months with a foot injury and has since been overtaken by Lee Westwood and Rory McIlroy in the standings. [...]
CITY MOVES WHO’S SWITCHING JOBS October 19, 2009 Charles Stanley SecuritiesThe stockbroker has appointed Nick Redfern as head of institutional sales, responsible for small and mid-cap distribution. Redfern started his career at Smith New Court before moving to Dresdner Kleinwort, where he spent six years as a managing director responsible for pan-European emerging company sales. He also worked at Arbuthnot and Oriel Securities, [...]
Tide of business bankruptcies to halt next year October 18, 2009 THE tide of businesses sinking into bankruptcy over the financial crisis will be stemmed by early next year, a new report shows today. The report, by accountancy firm BDO, said the rise in the number of firms going bust – over one in 60 businesses this year – would end next year as the UK [...]