Sunday, 22nd November 2009

 

6 January 2009 - Press Briefing

Scottish tycoon loses £250m amid credit crisis

Sir Tom Hunter, one of Scotland's richest men, is no longer the country's only billionaire after conceding losses worth £250m (€273m) of his fortune amid the credit crunch, according to a report in Glasgow Evening Times.

The Ayrshire tycoon, who is still believed to be worth nearly £750m, has recently had to sell his mansion in France for £50m as well as his £2m luxury yacht.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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