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Unemployment falls to 2.46m

September 4, 2021

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first_imgWednesday 11 August 2010 4:34 am Share John Dunne Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoHero WarsBig Boss of internet games!Hero WarsUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.comUndo Show Comments ▼ Unemployment falls to 2.46m center_img Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot whatsapp whatsapp The jobless total has fallen by 49,000 to 2.46m in the three months to June, according to the Office for National Statistics. According to the figures the number of people claiming Jobseekers Allowance in July fell by 3,800 to 1.46m.Howard Archer of Global Insight said: “For now at least, unemployment continues to fall in reaction to the economy’s ongoing growth since the fourth quarter of last year. “However, it is notable that claimant count unemployment fell by a modest 3,800 while June’s drop was trimmed to 15,900. This is well down down from the declines around 30,000 seen in May and April, and hints that the improvement in the labour market may be faltering.”Meanwhile average earnings rose 1.3pc in the year to June. last_img read more


Ex-Blue oar boss on buying spree

September 4, 2021

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first_img Ex-Blue oar boss on buying spree Tags: NULL Share whatsapp FORMER Blue Oar Securities chief Andrew Monk has swallowed up a pair of small businesses to boost his new vehicle, Third Quad Capital.Third Quad said yesterday it had bought up loss-making corporate finance and broking house VSA Capital, a resources, oil and gas specialist, for a nominal sum. It has also bought Softline, a software distributor, for a total consideration of £1.3m.Monk has kept a low profile in the City since leaving Blue Oar, now Astaire, when it was taken over by Edward Vandyk’s Evolve Capital. Show Comments ▼ whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot KCS-content Thursday 12 August 2010 8:26 pmlast_img read more


Lloyds closes Irish business banking arm

September 4, 2021

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first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite Herald whatsapp Tags: NULL Thursday 19 August 2010 8:36 pm Show Comments ▼ KCS-content Sharecenter_img whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Lloyds closes Irish business banking arm LLOYDS BANKING GROUP has decided to wind down its Irish business lending operation, which was badly hit by the bursting of the Republic’s property bubble two years ago.Following a four-month review, Lloyds said it would pass £21.5bn of commercial loans in the region to its Bank of Scotland subsidiary. Most of the 800 Lloyds staff working in Ireland will be transferred to a new service company. They will look after customer relations while gradually running the loan book down.Lloyds quit the Irish high street in February, shutting its 44-branch Halifax business and shedding around 750 jobs. Although a spokesman emphasised the commercial banking arm would retain a presence until its assets dissolved naturally, a statement said Lloyds was effectively pulling out as “there was little opportunity for scalable growth in the future”.The move marks the end of the group’s flirtation with the one-time “Celtic tiger” economy. HBOS aggressively pushed into the Irish market in 2005, extending credit that contributed to the country’s rapid house price boom. Lloyds took on the exposure when it bought HBOS in 2008.Just under half – 43 per cent – of Lloyds’ Irish business loan book is judged to be at risk of turning toxic. Much of the credit is tied up in commercial real estate projects.Ian Gordon, an analyst at European brokerage Exane BNP Paribas, said the 41 per cent state-owned bank had given the market clarity on its Irish division. He said: “All in all, a sensible decision for Lloyds, where under [head of group operations] Mark Fisher’s leadership, delivery against a cost synergy target of £2bn is already ahead of schedule.”Shares in Lloyds closed 0.8 per cent lower at 70.1p. last_img read more


WHAT THE OTHER PAPERS SAY THIS MORNING

September 4, 2021

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first_img KCS-content whatsapp FINANCIAL TIMESDEMOCRATS FACE MIDTERM MELTDOWNBarack Obama’s Democratic party faces a series of dramatic defeats at every level of government in Washington and beyond in the November midterm elections, according to leading analysts and opinion polls. The University of Virginia’s widely monitored Crystal Ball will today forecast sweeping setbacks on Capitol Hill and the loss of a clutch of state governorships on November 2. It follows a Gallup poll that showed the Republicans with a 10 percentage point lead over the Democrats – the widest margin in 68 years. UK TO LAUNCH COMPREHENSIVE POLICING OF ONLINE ADVERTISINGThe UK is to introduce one of the world’s most ambitious attempts to police online marketing next year, when the Advertising Standards Authority extends its regime to corporate websites, social networks and mobile applications.LIB DEM MEMBERS GIVE POLL BOOST TO CLEGGNick Clegg and his fellow senior Liberal Democrats have been given a timely boost ahead of a potentially fractious party conference by the results of a survey showing that support for Mr Clegg among party members remains high. But the survey of almost 600 members shows that net support for the coalition has begun to slip, falling to 45 per cent in August from 57 per cent in July.FLEXIBLE LEADERS REAP REWARD OF TRUSTChief executives who managed to protect jobs during the recession through measures such as flexible working or reduced hours are reaping the reward of higher levels of trust from their staff, according to research published today.THE TIMESJAL TO CUT 16,000 STAFF IN RESTRUCTUREJapan Airlines took the first step to return from bankruptcy today when it submitted a rehabilitation plan to shed 16,000 jobs, cut routes and sell its hotels. The company said that it was studying the possibility of launching a low-cost carrier as Japan’s economic recovery continues to falter and consumer spending remains weak.EDF PASSES ON HIGHER COST OF ELECTRICITYEDF Energy will raise electricity prices by 2.6 per cent for more than a third of its customers from October 1 and is reviewing its gas prices. Europe’s biggest utility company said that it was forced to raise tariffs after being hit with a 16 per cent rise in distribution and transmission costs since it increased prices last year.The Daily TelegraphCREDIT SUISSE DEFENDS ITS BANKERS’ MID-YEAR BONUSCredit Suisse has defended a decision to award its London-based bankers with a surprise mid-year bonus by claiming that it had no choice after its compliance with British rules on pay backfired. The Swiss bank suggested its decision to distribute a multi-million pound bonus-round, a move that looks set to re-ignite the row over City pay, was necessary to avoid losing key people to its rivals over the next few months.AMERICA FACES CRISIS OF LEADERSHIP LEADING WALL ST INVESTOR WARNSAmerica faces a “crisis of leadership” that is damaging the country’s recovery, one of Wall Street’s leading hedge fund managers, Daniel Loeb, has warned in a scathing attack on President Barack Obama.WALL STREET JOURNALFRANCE SEEKS COMMODITIES OVERSIGHT France is calling for tighter oversight of European commodity derivatives markets in order to curtail price volatility, as US regulators also gear up to implement new rules to govern complex financial instruments. Three French ministers called the current regulatory regime “insufficient” in a letter to Michel Barnier, the European Union commissioner for internal markets and services.ISRAEL’S GAS-TAX REVIEW DRAWS FIRE Energy companies involved in recent large natural-gas discoveries offshore Israel have warned that any move by the government to increase its share of tax and royalties from natural resources may jeopardise investment in the country’s expanding energy sector. WHAT THE OTHER PAPERS SAY THIS MORNING whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesSmartAnswers.netThis New Volkswagen SUV Is The Car Of Your Dreams.SmartAnswers.netAll Things Auto | Search AdsBuick’s New Lineup Is Truly StunningAll Things Auto | Search AdsBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Tags: NULL Tuesday 31 August 2010 9:28 pm Show Comments ▼ Share last_img read more


FACT BOX | EUROPEAN BANKING LAWS

September 4, 2021

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first_img PAY RULESThe European Parliament last week endorsed a skeleton law for the first EU-wide curbs on excessive pay in the banking sector from January 2011.CEBS MEETINGThe Committee of European Banking Supervisors (CEBS), a panel made up of financial watchdogs from each member state, is the body that conducted the banking stress tests in July. It must now flesh out the practical details of the banking pay measures. The panel concluded a two-day meeting yesterday evening to draft guidance for banks and supervisors to implement the new rules, such as by defining some of the generic terms used in the law.STAFF LISTSThe basic rules force banks and investment firms to list staff who have a material impact on the company’s risk profile. The list should include at least senior management, risk takers, staff engaged in control functions and any employee whose total pay package, including pension, takes them into the same pay package as senior management.BONUS DEFERRALSThe rules also specify that a “substantial portion of the variable remuneration component, such as 40 to 60 per cent” should be deferred over an “appropriate period of time”. The exact percentage and timescale have been left for CEBS to agree, and reports yesterday said the rules would be at the stricter end of the scale. THE MAKE-UP OF BONUSESThe European Parliament also said a “substantial portion” of an employee’s non-fixed pay should consist of shares or equivalent, and that guaranteed bonuses should be banned. CEBS is now expected to say bonuses should be no greater than a certain multiple of a salary, with built-in flexibility for national regulators to allow less risky firms to award bigger bonuses. And also, those deemed crucial to the economy could be more heavily regulated. EUROPEAN SUPER REGULATORCEBS is also thought to have discussed the introduction of the three-branch European super-regulator, which will eventually replace the CEBS body. A law introducing the watchdog passed through the EU Parliament last month. The London-based body will have the power to overrule domestic regulators such as the Financial Services Authority.WHAT HAPPENS NEXT?Once CEBS publishes its decisions, which are expected today or early next week, it will consult with affected parties for one month before making a final proposal. CEBS has no power to stray beyond the framework laid down by the European Parliament last week, and the final rules must get the thumbs up from the European Commission. This process also allows for challenges from member states and the European Parliament, so there is scope for further argument. Once in place, the remuneration curbs will be reviewed by the European Commission on or before 1 April 2013.CEBS is set to be replaced by the new super-regulator as early as this January. WHAT OTHER RULES ARE IN THE PIPELINE?The European Parliament is currently trying to finalise the Alternative Investment Fund Managers Directive, which will impose extra checks on hedge funds operating within the bloc. On a global level, the Basel III capital rules governing banks also face final approval at the G20 summit in November. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach Raider Tags: NULL Thursday 7 October 2010 9:47 pm KCS-content Share More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comcenter_img whatsapp Show Comments ▼ FACT BOX | EUROPEAN BANKING LAWS whatsapplast_img read more


John Lewis sales stalled by strike and sunshine

September 4, 2021

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first_img Show Comments ▼ Tags: NULL whatsapp Friday 15 October 2010 4:45 am John Dunne whatsapp Sharecenter_img Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo John Lewis sales stalled by strike and sunshine RETAILER John Lewis said sales growth slowed last week, as a strike on London Underground and a brief Indian summer meant fewer shoppers in its stores.The employee-owned company, traditionally seen as a bellwether of the UK retail sector but which has outperformed competitors for over a year, said on Friday sales at its 28 department stores and two “at home” stores rose 7.2 per cent to £59.5m in the week to 9 October. That compares with growth of 13.9, 15.1 and 11.7 per cent in the previous three weeks respectively.“The tube strike on Monday (4 October) in London, added to the relatively good weather compared to a year ago, contributed to lower footfall in our shops,” said buying and brand director Peter Ruis.“However, the fantastically strong John Lewis Direct (Internet) sales (up 46 per cent) must give us confidence that consumer spending is still strong despite the potential impact of the upcoming public sector cuts,” he said.A survey on Wednesday said consumer confidence fell in September to its lowest level in a year, while one on Tuesday said retail sales growth halved in the same month, as uncertainty ahead of the government’s October 20 review made shoppers nervous.John Lewis also owns the 234-store Waitrose supermarket chain. Here sales rose 9.6 per cent to £92.8m underlining its status as one of the UK’s fastest growing grocers.Commercial director Mark Williamson said the outcome was boosted by the firm’s “Brand Price Match” campaign, where 1,000 branded lines are price matched with Tesco, Britain’s biggest retailer.Sales were also boosted by consumers eating in on Saturday to watch popular television shows “X Factor” and “Strictly Come Dancing,” with sales of pizza up 30 per cent and Italian ready-meals up 23 per cent. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comPuffer fish snaps a selfie with lucky divernypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comlast_img read more


Ford reduces its debt by $1.9bn with bond swap

September 4, 2021

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first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Ford reduces its debt by $1.9bn with bond swap whatsapp whatsapp FORD is cutting its debt by $1.9bn (£1.2bn) in a bid to strengthen its balance sheet and get itself rated investment grade again.In Ford’s tender offer to reduce its automotive operations debt, holders of some $2.55bn of senior convertible notes due in 2016 and 2036 accepted cash and company stock for debt.That reduces Ford’s annual interest payments by about $180m, the carmaker said yesterday.Ford borrowed heavily in late 2006, allowing it to avoid the bankruptcies that felled rivals General Motors and Chrysler last year, but leaving it with a heavy debt load.The carmaker expects a solid profit in 2010 and has cut its automotive operations debt by about $12.8bn this year, reducing annual interest expense by nearly $1bn.Ford also expects to be net cash positive in its automotive operations – meaning it would have more cash than debt – by the end of 2010. It would be the first time that this would have happened since the second quarter of 2008.Ford will pay $534m in cash premiums and on 30 November issue 274m shares of common stock to convert the notes. Show Comments ▼ Wednesday 24 November 2010 9:05 pmcenter_img KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comColin Kaepernick to publish book on abolishing the policethegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Share Tags: NULLlast_img read more


Goldman Sachs, HSBC prepare BAA stake sale

September 4, 2021

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first_img Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo whatsapp alison.lock Goldman Sachs, HSBC prepare BAA stake sale Friday 26 November 2010 12:42 pm Show Comments ▼ SPANISH infrastructure group Ferrovial has hired Goldman Sachs and HSBC to sell a ten per cent stake in BAA, Britain’s largest airport operator and the sale will begin next week.The infrastructure group, which owns 55.9 per cent of BAA, announced the stake sale in October and could raise up to €200m (£169m) from the deal according to analysts.By reducing its stake below a majority, Ferrovial will no longer need to consolidate the subsidiary’s debt on its own balance sheet, which will more than halve its €24.5bn debt pile.BAA, Ferrovial, Goldman Sachs and HSBC have declined to comment.BAA’s current minority owners are Britannia Airport Partners, managed by Canada’s Caisse de depot et placement du Quebec, which owns 26.5 per cent, and Singapore’s biggest sovereign wealth fund, GIC, with 17.6 per cent.The sale is likely to follow a standard auction format, lasting a few months and with two rounds of bidding.In the coming days the two banks will start to contact a wide range of potential buyers, some of the people said.These are likely to include pension and infrastructure funds from Canada, Australia and Europe, and sovereign wealth funds – the types of investor that have shown interest in owning airport stakes.For example, Global Infrastructure Partners bought Gatwick airport from BAA last year. GIP later sold stakes to the Abu Dhabi Investment Authority (Adia), South Korea’s National Pension Service (NPS), and California Public Employees’ Retirement System (Calpers).Last year the Competition Commission ordered BAA to sell Stansted and either Glasgow or Edinburgh Airport, a decision BAA is still appealing. The commission asked for fresh feedback last week and said it could extend the break-up’s timetable.A pick-up in business flights at Heathrow, London’s busiest airport, has helped stem losses at BAA. Pre-tax losses for the first nine months of this year shrank by three-quarters to £193m , as revenues rose 4.4 per cent to £1.54bn.Shares in Ferrovial stood 0.8 per cent lower by 1450 GMT at €7.49 a share. The stock has shed almost 10 per cent this year – beating a 20 per cent fall in Spain’s IBEX 35 index but lagging the 5.2 per cent drop in the Stoxx Europe 600 construction and materials index. whatsapp Tags: NULLlast_img read more


Public sector must do more with less

September 4, 2021

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first_imgTuesday 7 December 2010 9:14 pm Tags: NULL whatsapp KCS-content More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com whatsapp Share Show Comments ▼ AN intriguing book has just dropped onto my desk (and no, I’m not referring to Gordon Brown’s massive self-justificatory opus, which I shall ignore for as long as possible). Called More with Less, it summarises the findings of one of the largest independent studies into public sector performance in the UK to date, conducted by the Advanced Performance Institute. Senior managers from over 400 public sector organisations shared their views on key performance challenges and how they could be overcome.The findings from Bernard Marr and James Creelman are deeply troubling. Astonishingly, public sector organisations spend about 20 per cent of their time on form-filling, auditing, measuring and reporting performance – yet only a fraction of this is ever used to gain relevant and new insights or to make better decisions that lead to performance improvements. Two-thirds of senior public sector leaders believe that individuals in their organisation occasionally fabricate data.What this confirms is what many in the private sector have long believed. Public sector productivity – output per worker – has performed abysmally in recent years, but it could easily be increased by at least 10 per cent with better management and incentives. Another way of looking at it is that the public sector could relatively easily produce the same amount of output – including the same amount of frontline services – for 10 per cent fewer costs (and that is only assuming that half the time and energy spent on form-filling is eliminated). These sorts of savings are routinely pushed through in the private sector; and when that happens companies do their utmost to ensure consumers don’t notice any difference to quality. Yet because of misaligned incentives between consumers and producers in the public sector, we are seeing unnecessary cuts to frontline services and no real revolution in the way the public sector is operated. Because there is no real market, no property rights and no real prices in the public sector, information is limited and processes inherently inefficient. But there are shades of waste and Britain’s public sector ought to be able to become at least a little less inefficient. More with Less will be published next month by Palgrave Macmillan. Someone should give George Osborne a copy. SENSE ON TAXSo in the end Barack Obama did the right thing, under intense pressure from Republicans. The Bush tax cuts will be extended for another two years. No wonder the markets bounced yesterday: returns to investors would have been slashed had taxes been hiked on income, capital gains and dividends. Some of the uncertainty facing American executives, entrepreneurs and shareholders has now been lifted. Perhaps the most reassuring part is that US politicians still recognise that excessively high tax rates hit incentives and performance. The debate in Britain is more confused, with the government claiming to understand this with its commitment to cut corporation tax – but at the same time it is constantly trying to wring more out of companies in other ways. Where the US lags the UK, however, is the absence of any real understanding of the need to keep exploding levels of public spending in check. Unless this is tackled, and something is done about middle class entitlements, America will eventually face its very own sovereign crisis. [email protected] Public sector must do more with less last_img read more


Unite opposes De La Rue sale

September 4, 2021

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first_img whatsapp Sunday 12 December 2010 10:34 pm UNITE the union said it was drawing up plans to defend the world’s biggest currency printer De La Rue this weekend from a renewed takeover bid from French rival Oberthur Technologies.Last week, De La Rue admitted it had received an offer of £900m from the French printing firm but said it had almost immediately rejected the offer.However, Unite said this weekend it would consult its members at De La Rue over possible industrial action if approaches from Oberthur turned into a more formal offer. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap whatsapp KCS-content center_img Show Comments ▼ Share Unite opposes De La Rue sale by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem Tags: NULLlast_img read more