September 2009
E.ON UK aiming for greener supply chain
E.ON UK has revealed that it is looking to make its supply chain more environmentally friendly.
According to supply chain director Chris Lovatt, the energy company is working with its suppliers to cut costs and its carbon footprint without compromising on standards.
Speaking to Supply Management, he stated that this strategy would enable E.ON UK to identify and make changes to its operations where necessary.
Mr Lovatt said these changes would then be introduced providing "there is no adverse effect on our end customers, the environment or safety standards".
"We want to challenge our suppliers and for them to challenge back," he commented.
The move comes after research from EcoVadis and HEC Paris revealed that eight in ten procurement directors in the UK made efforts to adopt more sustainable purchasing strategies last year.
London mayor Boris Johnson has been among those to encourage firms to make more eco-friendly purchasing decisions, saying this would help them save money and protect the environment at the same time.
Updated: 30 September 2009.
Categories: market-and-industry-news, procurement.
Commercial property in demand in London
Banking and financial services groups could be set to drive up commercial property rents in London.
According to commercial estate agent Cushman & Wakefield, demand for office space in the City is beginning to outstrip the available level of supply.
Therefore, it believes the bottom of the market has been reached and that rental costs will soon go up.
Guy Taylor, an official at the firm, commented: "It's been a tenants' market for the last 12 months.
"Over the next few months, the imbalance is going to be addressed."
This, he said, means that vacancy levels and rent-free periods in London are likely to drop.
James Young, head of the company's City office, added that there has been a real "sea change" in sentiment in the market during the last three months.
This backs up recent observations from Knight Frank, which credited the banking and financial services industry with driving demand for commercial property in London.
Updated: 30 September 2009.
Categories: banking-and-financial-services, market-and-industry-news.
Commercial property in London 'is an attractive investment'
Banking and financial services companies could find London an attractive place in which to purchase commercial property.
Global property fund manager LaSalle Investment Management placed the UK capital in third place on a list of the best European cities for investing in real estate.
Charles Maudsley, spokesman for the group, noted that while London has been overtaken in the rankings by Munich and Paris, it remains a "very attractive" place in which to invest.
"Yields have expanded well beyond fair value even allowing for the weak demand outlook," he commented.
London's slight drop in the rankings was attributed to its proximity to recent problems in the banking and financial services industry, although its size and wealth ensured it stayed in the top ten.
This comes shortly after Z/Yen Group's latest Global Financial Centres Index ranked the British capital as the most competitive financial hub in the world for the third year in succession.
Updated: 30 September 2009.
Categories: banking-and-financial-services, market-and-industry-news.
Economic contraction in Q3 lower than forecasts
Britons looking for permanent jobs in London will welcome further news that the economy may be recovering from its recent slump.
Official figures this week revealed that between April and June, the rate of economic contraction fell to 0.6 per cent.
Analysts had widely expected a 0.7 per cent decline, which means the economy performed better than some had forecast.
Alastair Darling, the chancellor of the exchequer, has already expressed optimism that the UK's economic recovery will be underway by the turn of the year.
"Germany, France and Japan are showing signs of growth," he said at the Labour Party conference in Brighton.
"Many independent forecasters believe the UK too is coming out of recession."
Meanwhile, chief secretary to the Treasury Liam Byrne has commended the government for saving thousands of permanent jobs during the economic slump, BBC News reports.
However, he told delegates at the conference that Labour should not ease its support for the economy when it begins to pick up again.
Updated: 30 September 2009.
Categories: human-resources, international, market-and-industry-news.
Olympics to boost London economy
People looking for permanent jobs in London could be set to benefit from economic growth stimulated by the Olympic Games.
The British capital is set to host the sporting event in 2012 and Olympics minister Tessa Jowell believes the whole country will benefit
as a result.
Speaking at this week's Labour Party conference in Brighton, she said the Olympics have led to the regeneration of many deprived areas taking place at a faster rate.
This, she stated, has in turn led to the creation of a major new international centre for industries that will drive the UK's economic recovery.
"By investing in the UK's future the Olympics will deliver a massive boost to our economy," Ms Jowell commented.
"These are not just London's Games - they belong to the whole of Britain."
Ms Jowell added that the sporting event will lead to the creation of more permanent jobs in London and transform the lives of many young people.
This comes after she revealed that large and small businesses across the UK are securing supply chain contracts with the Olympic Delivery Authority.
Updated: 30 September 2009.
Categories: market-and-industry-news, procurement.
Fluctuating fuel prices 'affecting procurement sector'
People in London procurement jobs stand to be affected by ongoing volatility in the fuel markets, experts have suggested.
According to food and grocery research company IGD, energy is more costly than ever before, while the supply of fuel has become highly erratic.
This, it stated, is likely to create "challenging" circumstances for all participants in the supply chain.
James Walton, chief economist at IGD, has therefore called on businesses to adapt to the current climate by making changes to the way delivery fleets are operated.
Speaking to Retail Week, he commented: "It is becoming increasingly clear that whatever the future holds, the retail industry cannot continue in its current form."
Meanwhile, the Freight Transport Association has called on the government to introduce a lower rate of fuel duty for commercial vehicles.
The recent 2p increase in fuel duty was criticised in the Express and Star last week by Paul Watters of the AA, who described current petrol prices as "ridiculously high".
Updated: 30 September 2009.
Categories: market-and-industry-news, procurement.
CBI calls for strong banking system
Strengthening the banking and financial services sector could help the economy move towards sustainable growth, a business group has stated.
According to the CBI, the winner of the next general election needs to make developing a stronger banking system a priority.
The organisation said this measure, along with stepping up efforts to get more young people into permanent jobs, would boost the economy and help stimulate long-term expansion.
John Cridland, deputy director general of the CBI, commented: "Our proposals make clear what the priorities should be to help our economy on the road to sustainable growth."
He added that "tough decisions" will need to be made by political parties to ensure the public finances are balanced by 2015.
New legislation designed to regulate the banking and financial services sector will be on the agenda at this week's Labour Party conference in Brighton, which will be their last before the general election.
The comments from the CBI come shortly after it predicted that gross domestic product in the UK will go up by 0.4 per cent in the final quarter of the year.
Updated: 30 September 2009.
Categories: banking-and-financial-services, market-and-industry-news.
Brown forecasts economic growth this year
People looking for permanent jobs in London have been boosted by further forecasts of improving economic conditions.
According to prime minister Gordon Brown, signs of growth in the economy are likely to be seen before the end of
this year.
However, he said that the government will continue with its current policies until it is certain that the economy has fully recovered from its recent slump.
Speaking to BBC Radio Five Live, Mr Brown said: "We will continue to maintain the fiscal stimulus, as all other countries are doing around the world."
Unemployment in the UK is currently at 2.47 million - the highest level in 14 years.
However, Mr Brown's optimistic assessment that the recession may be over is in line with other views that have been expressed in recent weeks.
Earlier this week, the CBI predicted that in the third quarter of 2009, gross domestic product in Britain will go up by 0.3 per cent.
Updated: 29 September 2009.
Categories: human-resources, market-and-industry-news.
Honest service for Liberty
Lisa Abbott is the Retail Controller at Liberty Plc and she has worked with Poolia since she started at the company two and a half years ago. During this time Lisa has recruited a number of temporary and permanent finance staff and has witnessed considerable change across the whole of the Liberty business.
"I've had four different roles myself during the time I have worked with Poolia and the finance team itself has changed considerably; we are now a truly integrated function which is adding value to the business and as a result the type of candidate we are looking to recruit has changed. It's important to me that I work with recruitment consultants who understand our business, recruitment can be very time consuming and using the right recruitment consultants who have the knowledge and skills which Poolia have demonstrated can make the process much easier.
I've worked with a few Poolia consultants throughout this time and we've developed a great working relationship with them. They have established a really good understanding of our culture and get on well with the individuals in the department, in fact Poolia have recruited a number of the current finance team."
Lisa sums up the ways in which she thinks the service from Poolia stands out from other recruitment consultants.
"The service from Poolia has been honest, they have demonstrated a clear understanding of our requirements and they are personable people to deal with. The consultants have gone out of their way to build a strong working relationships with us and I've been impressed by the level of personal interaction we've had with them and the attention they have paid to sending us candidates with appropriate skills."
Lisa's feedback also mirrors comments from a member of the finance team, Matthew Albury, who Poolia placed at Liberty of London. Matthew explains how forming a strong relationship with Poolia made such a difference to him.
"All in all, my experience with Poolia has been excellent; their assistance, persistence and advice were an integral part of me securing this position. They did a great job for me, not only finding me employment, but more importantly finding me work that will further my career. It is refreshing, especially in London, to work with an agency who actually listen to and look out for the interest of the employee."
Updated: 06 October 2009.
Categories: what-our-client-say-about-us.
G20 gives more powers to emerging nations
Members of the G20 are to have a greater influence over the global banking and financial services industry.
World leaders this week agreed in Pittsburgh that the role of coordinating the world economy should be moved beyond the G8 to more nations.
This means that the influence of emerging economies including Brazil, India, Turkey, South Africa and China will grow.
Robert Peston, business editor for BBC News, believes this is an historic development, as having these countries "at the top table" would have been unthinkable prior to the financial crisis.
Indeed, he said the deal represents a formal acknowledgement from North America and Europe that they "no longer have a monopoly of wisdom on what's good for the global economy".
According to a statement from the White House, the G20 will be at the centre of member states' efforts to build a durable economic recovery while avoiding the "fragilities" that caused the financial crisis.
Updated: 25 September 2009.
Categories: banking-and-financial-services, finance-and-accounting, international, market-and-industry-news.
Bank bailout was necessary, says Brown
Last year's bailout of the banking and financial services sector was necessary, Gordon Brown has stated.
In an interview with the Metro, the prime minister was asked why the government was prepared to prop up banks and not small businesses.
Gordon Brown acknowledged that small businesses are vital to the UK economy, but said they too would have been under threat had the government not acted at the onset of the financial crisis.
He stated that if the banking industry had collapsed, permanent jobs, savings and businesses would have followed.
"There was a real risk that workers would not have been paid and that cashpoints would stop working," he commented.
"So we needed to take action."
Meanwhile, the prime minister has said he believes voters need to see the results of his fiscal policies before the general election.
He told Sky News that many people have "suspended judgment" until they see the level of success he achieves.
Updated: 25 September 2009.
Categories: banking-and-financial-services, market-and-industry-news.
Professionalism and consistent quality of service from the outset
"Professionalism, consistent quality of service and wanting to understand our organisation from the outset" were the three key elements which David Bettles, Human Resources Manager for International Transport Workers' Federation highlighted regarding his relationship with Poolia.
"My relationship with Poolia is fairly recent in terms of length of time but in the last five months I have had regular interaction with the team at Poolia and we've done quite a lot of business together across Training, Finance and Office Support."
David explained how the relationship has developed and how Poolia has developed its knowledge of ITF.
"From the beginning it was clear that the all consultants I met were looking to understand what we were about and our culture. Each of my points of contact has met with me personally and has taken time probe into the precise details of the job specifications we have provided. This has meant that the quality of CVs I receive is very good and I can clearly see that they have shortlisted on our behalf. As a busy HR Manager I prefer to have strong relationships in place with a small number of agencies who I can rely upon and I've been impressed with the fact that Poolia have always done what they said they are going to do; I'm still surprised at the number of recruitment consultants that don't do this!
I've also noticed that everything that I was told about at our initial meeting regarding the way in which Poolia conducts the recruitment process, such as pre-interview meetings, has clearly happened in practice. The candidates I have met from Poolia are well prepared in terms of their knowledge of the ITF and importantly whether it is an organisation that they want to be part of. Again this demonstrates a strong knowledge of what we are looking for and effective screening by the consultants"
David sums up his feedback saying "Poolia has done well in a short period of time; they have demonstrated that they are a professional organisation and that they are committed to building long term relationships. I look forward to continuing this partnership."
Updated: 25 September 2009.
Categories: recruitment, what-our-client-say-about-us.
Government calls for more efficient council procurement
People in London procurement jobs in the local government sector have been told to spend taxpayers' money more efficiently.
According to communities secretary John Denham, new and innovative ways of using money to improve public services need to be developed.
"Every taxpayer pound must be made to work as hard as the person who earned it did," he insisted.
"Councils need to recognise that creative purchasing is not simply buying for less."
Indeed, he stated that being innovative and shaping markets must become the new principles of public procurement.
Mr Denham added that by thinking creatively, local authorities would be able to deliver social, environmental and economic benefits.
This, he said, could in turn create more permanent jobs, boost skills and help small businesses.
The advice comes after Mayor of London Boris Johnson launched a new website containing best practice guidelines and information for the procurement sector to help it become more environmentally friendly.
Updated: 25 September 2009.
Categories: market-and-industry-news, procurement.
"Trust is an important element of the relationship we have with Poolia"
"The strength of relationship which Poolia has established with CIMA means we have every confidence that our organisation is being presented accurately to candidates who share our ethics and culture."
Brad Taylor is the Head of Human Resources at the Chartered Institute of Management Accountants and has personally worked with Poolia for the last year. He describes how the relationship has developed.
"The team at Poolia have taken time to understand exactly what we are looking for from the first meeting we had together. The careful attention we have had from the consultants inspires more confidence in using Poolia and in the past year they have assisted us with a broad range of recruitment requirements across HR, Support and Marketing."
Brad explains why he uses recruitment agencies.
"It comes down to speed and efficiency. We are aware that not everyone is going to understand the nature of our organisation and may make assumptions about us, which might potentially put them off from applying directly. Working with an agency which understands our business is critical in overcoming these challenges and Poolia certainly meets these expectations. Having dealt with many recruitment agencies I would say that there are a number of ways in which Poolia stands out. They don't bombard us with candidates but present us with a manageable range of candidates with different degrees of development which I have found very beneficial. They also place a noticeable emphasis on building strong relationships with the individuals they have placed on a temporary and permanent basis with us and this complements CIMA's comprehensive internal induction process. It's also done with no ulterior motive! I've been impressed with their approach to adding value in different ways, for example, their annual salary survey which adds another professional dimension to their service."
Brad describes how CIMA is looking to drive up membership growth and student numbers through developing the organisation's brand globally; succession and talent planning are therefore key priorities and it is therefore critical to have the right recruitment partners.
"Trust is an important element of the relationship we have with Poolia; I know that the candidates they put forward will be a good fit for CIMA because they have consistently demonstrated their understanding of our business. The service which they provide is always efficient and the recruitment process is managed with appropriate pace but never rushed. The strength and frequency of communication we have established means Poolia is certainly at the forefront of my mind when it comes to recruitment."
Updated: 25 September 2009.
Categories: what-our-client-say-about-us.
CIPD forecasts gradual increase in net job creation
"When speaking to clients they are more receptive to our calls and they are all feeling slightly more positive, a lot of clients are commenting once we get in to the New Year this will move even quicker." Comments Susan Guthrie, Human Resources General Manager at Poolia
People looking for permanent jobs in sectors such as human resources have been advised that a gradual increase in net job creation is likely to occur.
According to the Chartered Institute of Personnel and Development (CIPD), the British economy is beginning to show signs of picking up following its recent slump.
The organisation is therefore forecasting a "jobs-light recovery", which means there will be a "slow grind" back towards the pre-recession rate of unemployment over the next six years.
John Philpott, chief economist at CIPD, has therefore advised the government to "maintain expansionary fiscal and monetary policies for as long as necessary".
This, he stated, is of "vital importance" to the UK economy and the permanent jobs market.
The forecast comes shortly after KPMG and the Recruitment and Employment Confederation (REC) reported a marginal increase in permanent and temporary job appointments in Britain during August.
Kevin Green, chief executive of the REC, hailed this as a sign that the UK jobs market is improving.
Updated: 25 September 2009.
Categories: human-resources, jobs, market-and-industry-news, permanent-placement.
CBI - UK is emerging from recession
People looking for permanent jobs in London have been boosted by suggestions that the recession may be over.
According to the CBI, gross domestic product (GDP) in Britain is likely to go up by 0.3 per cent during the third quarter of 2009.
Estimates suggest that this will be followed by a 0.4 per cent increase in GDP during the following three-month period.
Richard Lambert, director general of the CBI, attributed the positive short-term outlook to a number of factors, such as the government's quantitative easing programme and improving conditions in other countries.
However, he warned that rapid growth is not likely to resume for some time and that the next 18 months would continue to feel "quite tough".
Speaking to BBC News, Mr Lambert said: "Household consumer spending will remain tight, businesses will be hunkering down and the government will be pulling its horns in."
Bank of England governor Mervyn King has already expressed cautious optimism about the state of the economy, telling the Treasury Select Committee last week that there are signs that growth resumed in the third quarter of 2009.
Updated: 24 September 2009.
Categories: banking-and-financial-services, jobs, market-and-industry-news.
Lord Mandelson hails signs of economic recovery
People looking for London finance jobs could feel more optimistic after Lord Mandelson suggested the UK could be emerging from recession.
The business secretary told BBC Radio 4's World at One this week that there are signs that the economy is beginning to pick up again.
However, he warned that there is always the risk of the UK slipping into a second recessionary dip.
Lord Mandelson said this means the government needs to press on with the policies it is carrying out at the moment.
"It does seem the measures we've taken as a government and those measures taken internationally are having a positive effect," he commented.
The business secretary was speaking after accountancy firm KPMG and the Recruitment and Employment Confederation reported a marginal increase in the number of permanent appointments last month.
Bernard Brown, head of business services at KPMG, described this as positive news for the UK's jobs market.
Updated: 24 September 2009.
Categories: finance-and-accounting, jobs, market-and-industry-news.
London business confidence is rising, says ICAEW
People looking for London accounting jobs have been boosted by news of rising business confidence in the capital.
According to the Institute of Chartered Accountants in England and Wales (ICAEW), optimism rose by record levels during the most recent quarter of the year.
However, the organisation noted that business confidence in London was slightly lower than the national average.
Speaking to the Evening Standard, Ian Strange of the ICAEW said this could be partly because of the city's status as a global financial centre.
"London has naturally been close to the heart of the world financial crisis over the past year," he commented.
Mr Strange added that this has led to businesses in the city being more cautious over the prospect over an economic recovery than firms in other parts of the UK.
The comments follow a recent study by the ICAEW which found that optimism in the economy is particularly strong in the banking and financial services sector.
Chief executive Michael Izza said rising levels of business confidence suggest the recession could be over.
Updated: 24 September 2009.
Categories: jobs, london, market-and-industry-news.
REC: Recruitment to London finance jobs will become fairer
People looking for London finance jobs could be set to benefit from fairer recruitment processes from now on.
Earlier this month, the Equality and Human Rights Commission (EHRC) noted that some women have been collecting smaller salaries from their employers than their male colleagues.
The Recruitment and Employment Confederation (REC) believes this could prompt many companies in the banking and financial services sector to review their current recruitment procedures to ensure they are fair and equal.
Tom Hadley, director of external relationships at the REC, told Recruitment Consultant there would now be an "increasing onus" on how employers pick candidates for permanent jobs.
"Within this context, there will be real opportunities for agencies operating in this sector to show that they are ahead of the game in terms of equality issues," he added.
This comes after the EHRC said the banking and financial services sector will play a key part in lifting the UK out of recession.
Updated: 24 September 2009.
Categories: finance-and-accounting, market-and-industry-news.
Outlook for permanent jobs market 'is positive'
Conditions in the UK's permanent jobs market are getting better, a financial provider has stated.
According to BNP Paribas, the employment market is not yet at full strength, but there are "tentative signs" of it moving in a more positive direction.
Alan Clarke, UK economist at the group, told the Guardian that this tallies with the "impressive rebound" in other indicators of economic activity over the last few months.
Meanwhile, the government has taken steps to ensure that Britons who are looking for permanent and temporary jobs in sectors such as procurement find work.
Home secretary Alan Johnson has said that as of next year, employers will have to advertise any vacancies to people in the UK for at least a month before offering them to foreign nationals.
This, he stated, would ensure that companies are still able to take on skilled workers from other countries without overlooking those who already live in Britain.
Updated: 24 September 2009.
Categories: market-and-industry-news, procurement.
Accountancy firm hails recent performance
PricewaterhouseCoopers (PwC) has stressed the need for finance and accounting firms to hold their nerve during the economic slump.
Spokesperson Ian Powell stated that battening down the hatches at the onset of the financial crisis would have been counterproductive to the company.
Speaking to CityAM, he said its alternative strategy helped PwC safeguard permanent jobs and maintain staff morale throughout the recession.
"We took the decision that we would continue to invest in the downturn," Mr Powell commented.
He also noted that PwC continued looking for "high calibre" graduates to take on London accounting jobs during the slump.
"We've had an even better pool to select from this year," Mr Powell said.
He added that he is "reasonably upbeat" about PwC's prospects for the coming months, as it has been able to boost its revenue in a "tough" economic environment.
The comments come after CBI figures revealed that accountancy firms recorded a rise in the volume and value of business during the three months to August 2009.
Updated: 24 September 2009.
Categories: finance-and-accounting, market-and-industry-news.
Credit Suisse to hit the acquisition trail
One major bank has announced it may be on the look out for acquisitions in banking and financial services.
Head of wealth management at Credit Suisse Walter Berchtold, said the company would consider takeovers in order to build up its private banking units.
Mr Berchtold made his remarks at a conference in Zurich, where he explained what kind of firms would be considered.
"We are clearly ready to acquire if the target is close to our compliance, to our business model," he said.
When questioned over whether the corporation would consider bidding for the assets of ING, he declined to comment.
Stakes in the firm's Swiss and Asian arms are expected to raise some $1 billion (£610 million) when bidding closes this week.
Last month an analyst from the Gerson Lehrman Group stated bank acquisition strategies could be threatened.
They claimed the governing agency would do everything to find potential buyers for failing institutions, but changes in valuation methods mean bidders require the confidence that could be found in data provision.
Updated: 24 September 2009.
Categories: banking-and-financial-services, market-and-industry-news.
Boris Johnson: London banking bonus limits unlikely
Institutions would find another way of rewarding London banking jobs despite a cap on bonuses it has been claimed.
London mayor Boris Johnson spoke out this week concerning calls for limitations to be imposed on banking and financial services when it comes to providing pay supplements.
While visiting the European parliament in Brussels, Mr Johnson told AFP any move to curb bonuses should be conducted internationally, as opposed to just in Europe.
He explained that "business as usual" for bankers is inconceivable, adding that the industry should work with complete transparency and a "sense of their obligations and duty to wider society".
"What I am trying to do in London is to persuade the financial services industry that they have got to make some visible sign of their commitment," he remarked.
France led suggestions put forward to the European Union this week concerning restrictions on the financial rewards culture, which called for an immediate cessation of the system.
Updated: 24 September 2009.
Categories: banking-and-financial-services, market-and-industry-news.
Top London banking jobs under greater scrutiny
London banking jobs have come under greater regulatory scrutiny, according to new research.
Many of the UK's top banking and financial services companies are becoming increasingly stringent when it comes to assessing applications for senior management positions.
According to law firm Reynolds Porter Chamberlain, this follows the Financial Services Authority's (FSA) decision to vet potential candidates for top jobs in the sector in an attempt to ensure there is not a repeat of the economic crisis.
The firm claimed that between October 2008 and July this year, 12 applicants withdrew their applications after they had interviews with the FSA.
Furthermore, some people have dropped out of the process before they faced the regulator.
The FSA said: "It is essential that firms have competent boards who are able to demonstrate that they have the capabilities to deal with any risks that the firm may face."
In related news, banks may be handing out bonuses early next year to avoid a ten per cent increase in income tax, to be imposed on April 5th.
Updated: 24 September 2009.
Categories: banking-and-financial-services, market-and-industry-news.
Administrators preparing huge Lehman Brothers claim
A huge claim against Lehman Brothers' parent company in the US is being prepared by administrators in London.
PricewaterhouseCoopers (PwC) is working on a claim for the US bankruptcy court ahead of the September 22nd deadline, according to reports.
The bank, which failed nearly a year ago and has since been dubbed the largest corporate collapse in history, is engaged in a case that could see a claim of almost $100 billion (£61.5 billion) being made.
PricewaterhouseCoopers partner Tony Lomas, who is integral to lodging the claim, stated the amount could be this high as he will represent over 100 units of the bank.
A system has been created by liquidators in the US in order to repay creditors and collect money from those who owe it.
Meanwhile, PwC is at the centre of a lawsuit brought against its Canadian arm over charges of negligence with regard to Bernard Madoff's $65 billion investment fraud.
The allegations have been made by investors who lost large sums of money through Fairfield Sentry, a Madoff feeder fund, the Telegraph reports.
Updated: 24 September 2009.
Categories: banking-and-financial-services, finance-and-accounting.
City told to prepare for more mergers and acquisitions
The banking and financial services sector in the City should prepare themselves for a takeover spree, according to one commentator.
Credit Suisse has predicted that increased stability in the market, coupled with cheap debt and rising corporate revenues, may lead to a series of mergers and acquisitions.
Firms that may attract bids are those that appear to have been less hard hit by the economic downturn, reports the Guardian.
Other factors may include a strong cash generation, few debts and promising growth potential.
Drawing on the case of Kraft Foods' attempts to acquire Cadbury, which has already turned down an offer of £10 billion and is considering offering cash as part of the deal, Credit Suisse indicated that this could be the start of an exciting time for London banking jobs.
"We take it to be a sign of returning confidence that corporates are willing to finance their bids with cash," said the firm's representative Richard Kersley.
This comes as a surge in takeover activity has inspired optimism in the capital, with Orange and T-Mobile planning to join forces to form the largest mobile operator in the country.
Updated: 24 September 2009.
Categories: banking-and-financial-services, finance-and-accounting.
London human resources departments to pool resources
Two London authorities are to merge their human resources departments to boost efficiency and cut costs.
The human resources departments of two authorities in London are to be combined as part of a money-saving exercise.
Merton and Sutton Borough Councils are expecting the merger to save them a combined total of £500,000 a year.
According to John Drage of Sutton Council, this is the first time such a project has been undertaken in London.
"By working together, we can pool our resources, leading to service improvement and significant cost savings," he commented.
This, he said, would represent a very good deal for taxpayers living in the area.
Meanwhile, Samantha George of Merton Council noted that bringing the two teams together would make working processes more efficient.
She said the merger could "transform" the way human resources departments work in the long term.
"We'll ensure we can provide even better services at a price residents can afford," Ms George added.
This comes after Personnel Today reported that Tower Hamlets is looking to save £1 million a year by centralising its human resources transactional services.
Updated: 24 September 2009.
Categories: human-resources, market-and-industry-news.
Sainsbury's wins 'Oscar of the procurement industry'
People in London procurement jobs with Sainsbury's have been among those to be commended by an industry group.
The Chartered Institute of Purchasing and Supply (CIPD) this week held its annual Supply Management Awards.
Sainsbury's won the top prize at the London event, which was staged at the Grosvenor House hotel and hosted by the Mock the Week star Hugh Dennis.
The award for excellence was given to the supermarket chain on the strength of its efforts to reduce the amount of waste across its 509 supermarkets, reports Supply Management.
David Brooks, head of procurement at the company, commented: "This is the Oscars of the procurement industry. Winning this will clearly boost our profile even further within Sainsbury's."
This comes after the company reported that customer numbers have increased to more than 18.5 million people per week.
Sainsbury's also revealed that like-for-like sales in the first quarter of 2009 were up by 2.5 per cent.
Updated: 17 September 2009.
Categories: banking-and-financial-services, procurement.
Obama to repeat calls for new banking regulations
The US president will today call for the banking and financial services sector to be governed by a new regulatory system.
This week marks the first anniversary of the collapse of Lehman Brothers, which prompted governments across the world to inject funds into their financial systems.
President Obama has already proposed measures such as giving the Federal Reserve more powers over financial institutions, while countries such as the UK are also considering new regulatory proposals.
The address to financial leaders in Wall Street comes amid growing optimism that the global economy is turning a corner following its recent slump.
Matthew Price, the BBC's New York correspondent, observed: "Wall Street is growing in confidence, both in its financial position and in its ability to oppose legislative changes that it feels are not in its interests."
This comes after White House press secretary Robert Gibbs told CNN that the Obama administration has had to do "some extraordinary things" to keep the financial system in tact.
Updated: 17 September 2009.
Categories: banking-and-financial-services, international.
Business confidence rising in Britain
Company bosses in the UK are becoming increasingly hopeful about their future prospects, a new poll has found.
Britons looking for London finance jobs have been boosted by a surge in optimism among business leaders in the UK.A study by Clydesdale Bank showed that company bosses are becoming increasingly confident about their future prospects.
Mike Williams, an executive at the financial institution, described this as a "promising" development that could herald growth in the economy, the Independent reports. "It has clearly been a challenging time for businesses," he commented. "But these figures show there are signs of stability creeping into the market."
However, Mr Williams added that it is important for companies to retain a grounded and cautious perspective amid changing market conditions. According to the survey, nine in ten company bosses are now confident that their businesses will withstand the current slump in the economy.
Meanwhile, two-thirds of respondents said they have not yet experienced a reduction in business since the recession began.
This backs up the findings of a recent study by Lloyds TSB, which found that business confidence in Britain is now at its highest level in 15 months.
Updated: 17 September 2009.
Categories: finance-and-accounting, jobs, market-and-industry-news.
London Olympics boost supply chain activity in UK
Suppliers who are contributing to the London 2012 Olympic Games are creating thousands of supply chain contracts across the UK.
According to Olympics minister Tessa Jowell, this is proving to be a boost to both the wider economy and individual businesses during the current recession. This, she said, means the entire country is already reaping the benefits of the sporting event three years before it gets underway.
"Over a thousand suppliers, large and small, have won contracts with the ODA (Olympic Delivery Authority) worth more than £5 billion," Ms Jowell observed.
Of the 1,035 companies that are working on contracts with the ODA, 98 per cent are based in the UK, while 68 per cent are small or medium-sized firms. Meanwhile, a tenth of all suppliers are based in one of the five London boroughs that is hosting an Olympic event. The comments come after London Councils hailed the games as a "unique" opportunity to showcase the city on an international stage.
Updated: 17 September 2009.
Categories: market-and-industry-news, procurement.
