Monday 19 November 2018

Morgan McKinley signs CASSI deal

RECRUITMENT consultancy Morgan McKinley has announced a three-year, six-figure alliance with the Chartered Accountants Ireland Student Societies (CASSI).

The agreement will see Morgan McKinley provide a range of career supports to student accountants including over 3,000 hours of career development. This will involve seminars on topics like working abroad as well as careers evenings, webinars, and career boot camps.

LAGARDE GETS BACKING OF IMF

THE IMF has reiterated its confidence in managing director Christine Lagarde's leadership after a French court stopped just short of charging her in an investigation of a pay-off to a businessman. Ms Lagarde was questioned for two days last week in the French hearings, which named her as a key witness in a probe into a pay-off arranged while she was France's finance minister. She could still be charged at a later date.

The IMF said yesterday that its executive board has been briefed on the outcome of the recent hearings in France "and has re-affirmed its confidence in the managing director's ability to effectively carry out her duties".

CHINA SALES SLOW FOR PERNOD RICARD

IRISH Distillers' parent company Pernod Ricard expects growth in China to be weaker than expected as the country's tougher economic climate and President Xi Jinping's crackdown on extravagant gift-giving and banquets by government officials have weighed down sales in the nation.

The owners of Jameson Whiskey and Martell Congac expect "high single-digit growth" in China in the financial year ending next month, less than last year's 24pc gain. Drinks companies worldwide are counting on emerging markets to drive sales as the credit crisis crimps consumer spending in Europe.

COTY PLANS $1.1BN MARKET FLOTATION

PERFUME giant Coty hopes to raise as much as $1.1bn (€850m) by floating on the stock market next month. The company won't get any of the proceeds, which will go to shareholders such as private equity firm Berkshire Partners. The fragrance company initially tried to go public last year after an attempted purchase of Avon's global sales network fell through.

Companies have generated almost $18bn from floating on US exchanges this year, as private-equity backed companies sought to unload assets they've held since before the financial crisis.

Irish Independent

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