Durable orders fuel doubt over recovery’s legs

first_img Durable orders fuel doubt over recovery’s legs KCS-content Show Comments ▼ Share Tags: NULL More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comA 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.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comcenter_img Wednesday 25 August 2010 8:39 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 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 HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd whatsapp ONLY a surge in orders for commercial aircraft kept durable goods orders in positive territory last month, casting yet further doubt over the resilience of the US recovery.Durable goods orders only managed to grow by 0.3 per cent on the previous month but the more closely-watched core capital goods orders figure slumped eight per cent on June. Consequently, the three-month growth rate dropped to just 19.8 per cent from 30.9 per cent. Paul Ashworth, senior US economist at Capital Economics, said: “July’s durable goods report adds to the recent evidence from numerous activity surveys that the manufacturing recovery has lost nearly all of the considerable momentum it had.”He added: “The rebound in manufacturing was one of the bright spots in an otherwise disappointing recovery. Take it away, throw in a renewed collapse in housing, and you don’t have much left.” whatsapplast_img read more

BP expects to pay dividend by next year

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMentertained50 Strange Trucks That Stopped Traffic – Check Them OutMentertainedalldelishHere is what happens to your body when you start eating 2 eggs every dayalldelishinvesting.comYou Probably Had No Idea Kris Wrote The Most Iconic Hits Of All Timeinvesting.comDental Implants | Search AdsAre You Entitled to Receive Dental Implants From Medicare?Dental Implants | Search AdsStar BlvdTake A Look At Tom Selleck’s Gorgeous WifeStar BlvdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmRecetas Get5 Common Cancer Signs to Pay Attention ToRecetas Getthedelite.comThe All-Time Greatest NFL Quarterbacks Ranked In Orderthedelite.comYour Money Magic96-Year-Old Puts Her House For Sale. Look How It Looks InsideYour Money Magic Share More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative 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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com KCS-content Thursday 30 September 2010 11:04 pm BP’s new chief executive Bob Dudley moved to further restore the beleaguered oil giant’s image yesterday after he said BP may resume paying a dividend to shareholders in the new year. Dudley, who takes over the top job from Tony Hayward today, said that BP’s board will meet in the coming months to discuss restoring its dividend payout. The group suspended investor payouts after having to set aside $20bn (£12.7bn) to pay for the clean up of the Gulf of Mexico oil spill.“The board will get together and talk before the end of the year about restoring a dividend in some form in the first quarter. Its obviously for the board to decide, [but] from what I see happening in the performances of the businesses, I believe we will get there,” said Dudley yesterday. Last year, BP paid out about £7bn in dividends, making it the single biggest dividend payer in the FTSE 100 list of leading companies.His comments will help to restore shareholder confidence in BP after the Gulf spill and repeated gaffes by Haywood tarnished the group’s reputation. Dudley also said that BP was still committed to doing business in the US and said that the company would have to demonstrate that it had “learned its lessons” after the Gulf disaster. The new oil boss also pledged to make BP “a good compelling investment for shareholders”. center_img whatsapp whatsapp Show Comments ▼ BP expects to pay dividend by next year Tags: NULLlast_img read more

AIM delistings soar as M&A deals in the market increase

first_img Share AIM delistings soar as M&A deals in the market increase THE NUMBER of companies removing themselves from the AIM stock market rose by 25 per cent in the last quarter to 45, according to research out today. Of the 45 firms that delisted, 20 did so because of merger and acquisitions, said law firm Trowers & Hamlins and accountant UHY Hacker Young. M&A activity now represents 44 per cent of delistings, up from 33 per cent in the second quarter. In total, the number of companies leaving has risen from 36 to 45. Eight firms left because of insolvency, which is down slightly from the 10 who did so in the first three months of the year. Charles Wilson, partner at Trowers & Hamlins, said: “Businesses with the finances to pursue a ‘buy and build’ policy clearly believe conditions are now stable enough for them to do so. “The levelling out of delistings over the last three quarters, once M&A activity is factored out, suggests some companies are in fact being acquired before they are forced to delist because of financial stress.”Meanwhile, the number of new entrants to the AIM rose from 13 to 16 in the quarter. Show Comments ▼ KCS-content Sunday 3 October 2010 10:46 pm center_img whatsapp whatsapp Tags: NULL 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad: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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap 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.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Timeslast_img read more

AIA reveals bonus pay for Tucker

first_img Show Comments ▼ Share KCS-content MARK Tucker, the former chief executive of Prudential, has been awarded a performance-related bonus package worth £7.7m over the next two years in his new role as chief executive of Asian insurance business AIA. Tucker is entitled to a bonus package worth $6.1m (£3.9m) per year for the next two years on top of his $900,000 annual salary.A total of 13 per cent of the award for the first year will be paid in cash in March 2011, and again six months later with the remaining 74 per cent to be paid in shares. However the award will be pro-rated to reflect the fact that Tucker has only been chief executive of AIA since July. The following year will see the award paid in a similar fashion. He will also receive a number of restricted AIA shares which can be awarded at the company’s discretion. The details of Tucker’s remuneration package are buried in an appendix at the back of AIA’s float prospectus. The Asian unit of US insurance giant AIG floated on the Hong Kong stock market on Friday with a valuation of $30.5bn.AIA was forced to reconsider a flotation after a failed attempt to buy the insurer led by Prudential’s new chief executive Tidjane Thiam for $35.5bn earlier this year. Tucker, who was replaced by Thiam at Prudential, had led an even earlier attempt to buy AIA before being joining the company. The listing of AIA raised more than $20bn for the US Treasury, which still owns a majority stake in AIG. One of the principal reasons behind the listing has been AIG’s desire to repay US taxpayers who bailed it out during the global financial crisis in 2008. whatsapp Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky 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 WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad: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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLcenter_img whatsapp 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 PastThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsForbes14 Richest Black Billionaires RankedForbesTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Sunday 24 October 2010 11:15 pm AIA reveals bonus pay for Tucker last_img read more

CITY VIEWS: WILL THE ONE NEW CHANGE SHOPPING CENTRE ATTRACT SHOPPERS TO THE CITY?

first_img KCS-content Tags: NULL Tuesday 26 October 2010 7:49 pm whatsapp Show Comments ▼ CITY VIEWS: WILL THE ONE NEW CHANGE SHOPPING CENTRE ATTRACT SHOPPERS TO THE CITY? 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 Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comcenter_img More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org whatsapp Share HARRIETTE DERBYSHIRE | HAMPTONS INTERNATIONAL“I think it will be good for workers in the City – it’s quite close by and it gives us something to do in our lunch breaks. It also means we can shop during the week, so the weekends are free for other things. I’m not sure people will come in at the weekend specifically to shop. It might be good for people who live nearby.”MARIA BERNARDI | GROCERS’ COMPANY“I think it will be good for the area, although people generally are still quite reluctant to spend as much as they used to. Retailers are probably going to find it hard this Christmas. I think tourists will bring in a lot of money, especially at the weekends. I probably wouldn’t travel into the City to shop, as there are good places near where I live.”SPENCER JAMES | GLENCAIRN“I will probably walk over there in my lunch break to do a bit of shopping in the run-up to Christmas, as it’s not that far to go. I would consider coming down at the weekend to shop, although there are places nearer to where I live. I think it’s a good idea to open some more shops in the City.” last_img read more

WHAT THE OTHER PAPERS SAY THIS MORNING

first_img 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 PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndo Tags: NULL whatsapp Tuesday 23 November 2010 9:11 pm Show Comments ▼ whatsapp WHAT THE OTHER PAPERS SAY THIS MORNING FINANCIAL TIMESCAMERON WOOS NORDIC NATIONSDavid Cameron is to host a summit with leaders of Nordic and Baltic countries in January, an unusual move which Downing Street billed as an opportunity to exchange ideas on issues such as the green economy, social cohesion and gender equality.Cameron’s spokeswoman insisted the summit was not an attempt by Britain to forge a new northern alliance in the European Union of predominantly liberal, atlanticist countries, some of which have high levels of euroscepticism.CSC IN TALKS OVER £1.6BN PURCHASE OF TRAFFORD CENTRECapital Shopping Centres is close to agreeing the UK’s largest property transaction with the purchase of the £1.6bn Trafford Centre in a deal that would make John Whittaker, the northern billionaire, its largest shareholder. CSC, the largest retail property company in the UK, is in advanced talks to buy the 1.5m sq ft shopping centre near Manchester that was built by Peel Holdings. WESTINGHOUSE TRIES TECH TRANSFER DOOR TO CHINESE NUCLEAR MARKET Westinghouse Electric has handed over more than 75,000 documents to its Chinese customers as the initial part of a technology transfer deal it hopes will secure its place in the fastest-growing nuclear market. The documents relate to the construction of four reactors a US nuclear company controlled by Toshiba is building. OPEC CALLS FOR TIGHTER CONTROLS ON OTC TRADINGThe oil market risks “chaos” and global supplies could be disrupted unless tighter regulation is imposed on the trade in oil-based financial instruments, according to Opec’s secretary-general.THE TIMESCHINA PREPARES TO GET TOUGH ON BANKS’ LENDING BINGEChina’s banking industry is days away from bursting through its 7.5 trillion yuan annual loan ceiling after three weeks of frenetic lending and surging house prices, banking insiders have told The Times. The £713bn quota breach, which was described by analysts yesterday as “inevitable”, will set up a showdown between China’s powerful financial sector and a Government in Beijing straining to anchor inflation expectations and dam a flood of domestic and foreign liquidity.ACTIVIST INVESTOR SET TO TOP DAIRY FARMERS’ SHARES OFFERThousands of small dairy farmers are not being told about a higher offer for their shares in National Milk Records, according to an activist investor.The Daily TelegraphBRITISH AIRWAYS’ SUSPENSION OF CABIN CREW MEMBER RAISES FURTHER STRIKE FEARSThe prospect of further cabin crew strikes at British Airways has increased after Unite expressed “dismay and anger” at the suspension of a staff member at the airline. Unite allege a “long-standing” member of the cabin crew, Andrea Molton, has been suspended by BA for launching a Christmas collection for suspended and sacked colleagues.NEWS CORP MOVES INTO EDUCATION SECTOR WITH $360M PURCHASE OF WIRELESS GENERATIONNews Corporation, the owner of 20th Century Fox and newspapers including The Times and The Sun, is making its first foray into the classroom with the $360m (£228m) acquisition of Wireless Generation. The group has bought a 90 per cent stake.WALL STREET JOURNALFUGITIVE CEO TO PAY $53 MILLION TO SETTLE US CHARGESJacob “Kobi” Alexander, the software executive who fled the US while facing charges for backdating stock options, has agreed to pay more than $53m to end civil actions by US prosecutors and regulators. Mr. Alexander, the former chairman and chief executive of Comverse Technology, was accused in 2006 by federal prosecutors in Brooklyn of engaging in a scheme to backdate millions of stock options for himself and others. He was also accused of secretly awarding backdated options to favoured employees.BEATLES ALBUMS SELLING BRISKLYApple says people snapped up more than 450,000 copies of Beatles albums plus two million individual songs during the Fab Four’s first week on sale through iTunes. Share KCS-content last_img read more

FSA’s Turner: Banks need special laws

first_imgWednesday 8 December 2010 8:41 pm Share KCS-content Tags: NULL FSA’s Turner: Banks need special laws whatsapp center_img CHAIR of the Financial Services Authority (FSA) Lord Turner yesterday called for the British banking system to be subject to a special set of rules and said that directors of banks that had to be bailed out should be banned from serving on the board of other banks in future.He also defended the FSA against criticisms that it is unnecessarily secretive, refusing, for example, to publish any summary of the evidence or rationale for its decision not to censure former RBS boss Sir Fred Goodwin for his actions. He added that since the FSA did not even compile a summary of its decison, “there is, therefore, no one report which could be published”.On the banking system he said that banks should be subject to a special set of rules to prevent excessive risk-taking: “In some other sectors we want bold risk-taking, which might sometimes result in failure, shareholder loss or even the danger of bankruptcy. But banking is different.”He suggested that it should in future be the role of regulators to prevent risky ventures such as RBS’s acquisition of ABN Amro. Simon Morris of City law firm CMS Cameron McKenna said in response to Turner’s remarks: “The UK is already unique in having rules that micro-manage senior management. Any further ratcheting will only make the UK an even less attractive place to do business.”Turner’s comments come as EU officials meet in London today in order to sign off on new international restrictions regarding bankers’ bonus payments.Regarding proposals to shake up UK and European regulatory structures, Conservative MP Mark Field said: “It doesn’t look as though the new all-singing, all-dancing bodies that are being created will necessarily lead to a direct line of regulatory responsibility.” 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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald whatsapp Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof Show Comments ▼last_img read more

EU bonus rules make London uncompetitive

first_img whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com KCS-content Sunday 12 December 2010 10:38 pm Tags: NULL Last Friday, the EU outlined its latest proposals governing the payment of bonuses that will eventually be enacted as law in each of the 27 Member States.These laws will be amongst the most restrictive in the world – limiting cash bonuses, imposing a deferral period on the payment of bonuses and, most controversially, allowing money to be taken back retrospectively when decisions taken are judged to have caused losses.The motives behind such measures appear laudable; as with regulation, the EU’s policy makers are trying to minimise excessive risk taking within the financial services industry.Understandably, bonuses of the scale we are used to reading about in our newspapers are unpopular with the public – at home and overseas. Faced with anger amongst the electorate and sensationalist headlines in the press, politicians clearly feel they need to be seen to be taking action, and bonuses are an easy target.But once again, political expediency is placing our future international competitiveness at risk. Other financial centres – particularly those in America and the Far East – have no intention of restricting the way in which their financial institutions can pay their staff.Of course London will remain the financial capital of Europe but what good is that if we cannot compete in the global marketplace?It is also worth remembering that the payment of bonuses – or indeed the way they were structured – did not cause the financial crisis.By restricting remuneration practices, financial institutions in the EU are being placed in an invidious position. Most of these institutions want to be based here but, in order to do so, many are now considering increasing basic salaries in exchange for shrinking their bonus pools.This is a course of action we should endeavour to avoid. Bonuses, when used properly, are a sensible form of remuneration whilst raising basic salaries forces financial institutions into increased spending commitments that must be honoured even when performance is poor.The unintended – or I hope they are unintended – consequences are clear for all to see.We are faced with a situation whereby a proposal designed to increase security within the financial marketplace could result in a huge loss of revenues for EU governments as financial institutions take their business elsewhere or it could result in financial institutions engaging in even riskier practices.Stuart Fraser is the chairman of the policy and resources committee at the City of London Corporation center_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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald EU bonus rules make London uncompetitive Show Comments ▼ whatsapp Sharelast_img read more

Basel requires more capital

first_img Basel requires more capital KCS-content Share whatsapp Thursday 16 December 2010 9:14 pm Tags: NULL whatsappcenter_img THE Basel Committee has unveiled the full text of the Basel III rules for banking, revealing that banks would have been €577bn (£489.2bn) short of capital had the rules applied in 2009.In addition, banks are lacking €1,730bn in liquid assets that they will have four years to build up to comply with the new requirements.The rules give banks until 2015 to meet liquidity obligations and until 2018 to meet capital ratio requirements. The new regulations stipulate that banks maintain a core tier one capital ratio 4.5 per cent minimum, plus a 2.5 per cent capital conservation buffer during certain periods of the economic cycle.The committee said that the liquidity requirements could be subject to change if they generate “unintended consequences” during the next few years, seen as an “observation period”.PricewaterhouseCoopers’ Richard Barfield says that the liquidity rules will be tougher to comply with: “Competition for the limited supply of [liquid] retail deposits and medium-term funding will be fierce,” he said.The publication ends months of uncertainty about the details of regulatory changes to the world’s banking system. Show Comments ▼ 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 ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof 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 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 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 NowHealthyGemlast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_img CITY MOVES | WHO’S SWITCHING JOBS KCS-content whatsapp Sunday 19 December 2010 10:09 pm 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 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 AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsapp Tags: NULL Share Navigant ConsultingHoward Gendler (pictured) has been promoted to managing director of Navigant Consulting. He currently leads the business’ international development efforts, with a primary focus on disputes and investigations. Gendler has over 25 years’ experience directing sales and IT for European and US clients. He joined Navigant from Milnet, a litigation support firm, and has also worked at KPMG. He is originally from upstate New York.FTI ConsultingFTI has made two senior appointments: Edward J. Reilly joins as global chief executive of strategic communications, while Geoffrey Pelham-Lane has been appointed global president of Financial Dynamics, the financial PR consultancy. Reilly will now be in charge of strategic communications and will coordinate the integration of this segment into the broader business. Before his promotion, Reilly was chief executive of operations in the Americas.Pelham-Lane will now be responsible for growing the FD business globally, having been chief executive of UK operations. Both appointees will join FTI’s executive committee and are replacing Charles Watson, recently appointed global chairman. They will take up their new roles in January.AstraZeneca The pharmaceutical giant has appointed Baroness Shriti Vadera as a non-executive director. She will take up the role in January, when she will also joint the firm’s audit committee. Previously, she has held numerous senior ministerial posts and was adviser to the chancellor from 1999 to 2007. The news follows Vadera’s appointment last week as a non-executive director of BHP Billiton.Hunting International energy services group Hunting has appointed David Barr as a non-executive director. Barr is a former executive of Baker Hughes, where he was group president of completion and product. At Hunting, he will now join the audit, remuneration and nomination committees. He is also currently a non-executive chairman of Logan International, a non-executive of Geophysical Corporation, and a director Probe Technologies. Show Comments ▼last_img read more

Regulators to share audit details

first_img KCS-content Regulators to share audit details Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search AdsUndo whatsapp whatsapp Show Comments ▼center_img Two City regulators have signed an agreement to share confidential information about UK auditors. The Financial Services Authority and the Financial Reporting Council yesterday agreed to allow greater exchange of information about auditors and their reports on UK companies. The regulators are heightening their oversight of audits following the financial crisis. FSA accounting and auditing sector leader, Richard Thorpe, said he was concerned that “some auditors may not be exercising sufficient professional scepticism in their approach.” 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap Share Monday 17 January 2011 9:30 pm Tags: NULLlast_img read more

Scrap stamp duty, says OECD

first_img Tags: NULL Share More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Thursday 20 January 2011 7:45 pm Show Comments ▼ KCS-content whatsappcenter_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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp Scrap stamp duty, says OECD STAMP duty should be scrapped to encourage labour mobility, the Organisation for Economic Co-operation and Development (OECD) said yesterday.And massive house price hikes in recent decades were partly driven by restrictions on the supply of new housing, its report said.The Paris-based group suggested replacing stamp duty with an ongoing land tax based on market values, which could also offset cuts in taxes on income. A revenue neutral shift in the tax system would encourage growth and stability, it argued.And the UK could free up the supply of housing “by reassessing land-use policies, to make better use of vacant land with little environmental value,” including in the green belt, OECD economists said.House prices increased by more than 90 per cent between 1980 and 2008, the report said. Financial liberalisation increased the availability of home ownership to young professionals and people on low incomes, and added around 30 per cent to house prices, the OECD estimated.While deregulation amplified price volatility, the report also blamed “policies favouring homeownership over rental markets” which reduced labour mobility. Policies in the US exacerbated the number of houses falling into negative equity, the OECD economists said.The report criticised the level of regulation over the social housing sector, and proposed housing allowances as an alternative to the construction of more social housing.Social housing “can concentrate low-income households into neighbourhoods with negative consequences for access to education and labour market outcomes,” it said. last_img read more

Rio Tinto bid for Riversdale wins backing of key shareholder Tata

first_img Tags: NULL Show Comments ▼ RIO TINTO’S $3.9bn (£3.3bn) bid for Africa-focused coal miner Riversdale gained steam yesterday after a representative of Riversdale’s top shareholder Tata Steel backed the offer.The full board of Riversdale, coveted for its coal projects in Mozambique, recommended the bid saying it was unaware of any other offers in the works, even as an Indian consortium said it planned to decide on 27 January whether to bid.Riversdale managing director Steve Mallyon said his company “had not had one call” from the consortium, which is called ICVL and made up of an Indian steel maker, iron ore miner and a utility that may be interested in the coal for its own use.“I’ve met a couple of the companies in ICVL (in the past) and I am at a loss to understand the interest,” Mallyon said.Mallyon said negotiations were already underway to sell a large portion of the company’s future coking coal to steelmakers in Brazil, Europe and possibly China and talks were in a late stage to tie up the company’s thermal coal output with a major commodities trading house, leaving little for Indian buyers.“So we’ve only got about 10 million tonnes of coking coal to play with for a number of years and that’s not a lot to play with,” Mallyon said. “This does not seem to be the type of tonnes the Indians would be seeking.”Tata Steel has already signed a supply agreement for 40 per cent of the production from Riversdale’s main Benga mine, scheduled to start up this year. whatsapp Rio Tinto bid for Riversdale wins backing of key shareholder Tata by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsappcenter_img KCS-content Monday 24 January 2011 7:33 pm More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA 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.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Sharelast_img read more

Consumer spend supports robust US GDP

first_imgFriday 28 January 2011 10:40 am More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA 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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.com Tags: NULL whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img Consumer spend supports robust US GDP Share whatsapp The US economy gathered speed in the fourth quarter if marginally below expectations, recording strong exports and the biggest gain in consumer spending in more than four years.But despite this signal that a sustainable recovery is underway, unemployment remains painfully high.US GDP grew at a solid 3.2 per cent annual rate in the final three months of 2010, the Commerce Department said, after expanding at a 2.6 per cent pace in the third quarter. Economists had expected a 3.5 per cent rate.For the whole of 2010, the economy grew 2.9 per cent, the biggest gain since 2005. The economy contracted 2.6 per cent in 2009.“Though the GDP data came in slightly below expectations… (its acceleration) was driven by two factors which are very important when looking forward, and that is the more important factor in assessing the future course of the US economy,” said Quantitative Commodity Research consultant Peter Fertig.“That is private consumption and exports, which came in better than expected,” he said. “With the Dow Jones index trading this week above 12,000, that all indicates that the US economy is on an expansionary path.”The recovery was fuelled by growing consumer spending, which accounts for more than two-thirds of US economic activity. The sector grew at a 4.4 per cent rate – the fastest pace since the first quarter of 2006.Growth also came from a pick-up in exports, which resulted in a narrower trade deficit in the fourth quarter. Trade added 3.44 percentage points to GDP growth, the first contribution in a year.But the US jobless rate has been stuck above nine per cent since May 2009 and analysts say an expansion rate of at least three per cent over several quarters is needed to cope with new entrants in the labor market and the unemployed.The unemployment rate fell to 9.4 per cent in December from 9.8 per cent in November. alison.lock last_img read more

Agius: 50p tax makes it harder to keep talent in London

first_img whatsapp KCS-content Agius: 50p tax makes it harder to keep talent in London Show Comments ▼ Share whatsapp center_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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.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.org Tuesday 15 February 2011 9:08 pm THE 50p top tax rate makes it harder to retain talent in London, Barclays chairman Marcus Agius told City A.M. yesterday.He also said the bank’s “regretted losses” – staff that it has lost despite efforts to prevent them leaving – have risen, adding: “Competition for talent is fierce.”UK banks face a particularly difficult struggle to keep the best staff as a high-tax environment in Britain comes on top of the barrage of EU bonus regulations introduced in January.At the bank’s results presentation yesterday, chief executive Bob Diamond said that he welcomed the government’s commitment to “a level playing field” in regulatory terms.But he admitted that the field was not level on pay regulation. “It’s difficult to manage, but if you have enough rules like that, it can put you at a competitive disadvantage,” he said, adding that the US has yet to unveil its own pay rules.Barclays yesterday confirmed that it is to pay a portion of bonuses in contingent convertible bonds (co-cos) that will turn into equity if the bank’s capital ratio falls too low. Overall pay was down seven per cent, and 12 per cent at Barclays Capital, the investment bank.Barclays’ shares made a strong showing yesterday gaining 3.9 per cent to close at 325.6p, after the bank revealed a 32 per cent rise in pre-tax profit for 2010 to £6.1bn. A final dividend of 2.5p was proposed making 5.5p for the year. Other banks were also buoyed by its results: RBS rose two per cent to 45.2p and Lloyds rose 1.9p Tags: NULLlast_img read more

NZ loss could reach $12bn

first_img Show Comments ▼ Wednesday 23 February 2011 8:46 pm Tags: NULL Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap LOSSES from the earthquake that hit the New Zealand city of Christchurch may total $12bn (£7.2bn), JP Morgan analysts said yesterday.Repairs on shattered city centre buildings are likely to push insurance claims to double the level paid for the quake that hit the city last September. The estimate also tops the $8bn top estimate by risk modelling firm AIR Worldwide, which is assessing the damage. It would make the disaster the second-costliest earthquake ever for insured loss after the 1994 California quake, which cost $20.3bn.JP Morgan analyst Michael Huttner said the number was a “very conservative assumption on our part”.“We assume that even buildings which are still standing may have hidden structural damage and could then need to be rebuilt,” he said. Commercial buildings are likely to be privately insured, which could push up the level of exposure for many Lloyd’s insurers, Numis analyst Nick Johnson said. He estimated a total insured loss of $10bn “would not be inconceivable.” Amlin, which lost $160m from the last quake, is most likely to have a similar loss this time, with Catlin and Beazley among others potentially with some exposure, analysts said. KCS-content Share whatsapp whatsapp NZ loss could reach $12bn last_img read more