Reflections on the Philip Green saga

first_img MY first contact with Sir Philip Green came around two decades ago when he was running a small public company called Amber Day. I had written a two paragraph story for the Independent newspaper which provoked the retailing tycoon to scream down the phone at me the following day.“I cut out your article out and put it under my cat’s arse, which is where it firmly belongs,” Sir Philip, then just plain old Philip, bellowed at me, peppering his further comments with plenty of expletives. I watched and reported with interest as Amber Day failed and Sir Philip retreated from the public company arena and then watched again with admiration as the retailing tycoon built up an incredible empire, including Bhs and Top Shop.As the years went by Sir Philip joined the top ranks of British business. He tried and failed to take over Marks & Spencer but in doing so he instructed the country’s best advisers, including the top financial relations firm Finsbury and bankers Merrill Lynch. Then, under the Labour administration, this swashbuckling entrepreneur with a no-nonsense approach to management, was knighted.That he should have been appointed by the government to look at making cuts in public expenditure does not come as a total surprise. Sir Philip’s talents in running his retail empire will no doubt bring some benefits to some areas of government procurement and there will be jobs that he will no doubt be able to dispense with.What does surprise is Sir Philip’s naive belief that in accepting the job he would not be subjected to questions about his family’s tax arrangements. One might have every sympathy for Sir Philip and others like him, such as Terra Firma’s Guy Hands, who either reside overseas or have family overseas for tax reasons. Such businessmen and countless hedge fund managers and successful City figures are fed up with what they consider to be a punitive tax system.But it can not have escaped Sir Philip, or the government’s advisers, that in Vince Cable, the coalition has a business secretary who believes in making those who can afford it pay more. As Cable told us over the weekend: “I remain of the general view that British businesspeople should pay their taxes in Britain.”Sir Philip would no doubt reply that he does pay UK tax, but his wife, who has received a large dividend in the past, lives in Monaco and doesn’t.In asking Sir Philip about his tax affairs in the context of Cable’s stated position, CityA.M. upset the entrepreneur who has broken off relations. We are not the first newspaper to reach this state of affairs with him and clearly won’t be the last.But it is a shame the government’s latest appointee feels this way. In private Sir Philip has interesting thoughts on the kind of tax conditions that might allow his family and others to return to the UK, and he could no doubt enrich the debate.Increasing tax revenue would bring the budget deficit down just as much as cutting expenditure, and if that means reducing the rates of capital gains tax or income tax bands then that discussion needs to take place. Maybe Sir Philip will be calm enough to discuss such issues when he meets Cable on the business secretary’s return from holiday. [email protected] Allister Heath is away. Monday 16 August 2010 8:45 pm Reflections on the Philip Green saga Show Comments ▼ KCS-content Share Tags: NULL whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoinvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndo whatsapplast_img read more

Unite to wage legal war on BA in courts

first_img 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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp whatsapp TRADE union Unite is preparing to wage a legal war on British Airways (BA) as the fight between the two gets set to hit the courts once again. Unite is to launch a legal battle at the High Court this week over the removal of travel perks for up to 7,000 cabin crew who went on strike for 22 days this year at a cost to BA of £150m.The dispute over travel perks, which include heavily discounted fares, are a bitter point of dispute between BA and Unite.A date has not been set for the appearance but Unite said it is expected before the end of the week. A Unite spokesperson said: “We are being forced to defend our members and their rights to just treatment in the court room because BA refuses to play fairly at the negotiating table.”In a similar move, Unite will come head to head with the British flag-carrier in the Court of Appeal on 11 and 12 October, over claims that BA’s reduction of crew numbers on long-haul flights was a breach of contract.Unite took BA to the High Court earlier this year over the disagreement, but the court threw out the dispute and ruled in BA’s favour. “The ruling found that the modest changes to onboard crew numbers on flights from Heathrow were reasonable, did not breach crew contracts and could therefore remain in place. We will defend our position vigorously,” said BA. Unite will also head to the European Court of Human Rights by the end of this month to challenge the UK government’s interpretation of ballots held for industrial action. FAST FACTS | UNITE LEGAL ACTIONThis week: Unite takes BA to High Court.This month: Unite heads to the European Court of Human Rights over UK balloting laws. Next month: Unite takes BA to Court of Appeal. Monday 20 September 2010 8:58 pm Share KCS-content center_img Tags: NULL Unite to wage legal war on BA in courts 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.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Show Comments ▼last_img read more

ICBC to launch £4bn rights issue

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesMagellan 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.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlush John Dunne whatsapp Thursday 11 November 2010 2:43 am Industrial and Commercial Bank of China (ICBC) plans to raise 45bn yuan (£4.2bn) through a rights share offering this month, capping an $80bn fundraising boom by Chinese lenders to replenish capital depleted by last year’s lending spree.ICBC, which first unveiled its rights issue plan in July, will now be selling fewer rights shares in Hong Kong and Shanghai because of a rise in their stock market value since then.Investors will be entitled to 0.45 shares for every 10 held, meaning it could issue up to 15.03bn new shares, compared with its earlier plan to issue up to 0.6 shares for every 10 held, or 20.04bn shares. ICBC’s Shanghai shares are up 8 per cent since July and its Hong Kong shares are up 15 per cent.The world’s most valuable lender priced the issue at 2.99 yuan per share in Shanghai, and the equivalent price of HK$3.49 in Hong Kong, representing a discount to the market price of 37 percent and 47 per cent, respectively.The discounts are more-or-less in line with those offered by smaller rivals China Construction Bank Ltd (CCB) and Bank of China (BOC), which are raising a combined $18.2bn.CCB priced its offer at a 27-43 per cent discount to market price, while BOC priced it a 34-41 percent discount.The steep discount to market prices would give ICBC shareholders more of an incentive to participate in the rights issue, according to Jin Lin, analyst at Orient Securities.“It will give investors the impression that participating in the rights issue would be a bargain,” Jin said, adding that eventually, the overall wealth of investors would not change as the new issuance should drag down ICBC’s share prices.Investors generally welcomed the move, but ICBC’s shares were overshadowed to some extent by the central bank’s increasing banks’ required reserves amid inflation worries. Tags: NULLcenter_img whatsapp ICBC to launch £4bn rights issue Show Comments ▼ 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 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 Sharelast_img read more

Spending cuts to slow Europe’s 2011 growth

first_img EUROZONE economic growth will slow slightly next year as governments cut spending, but private demand will boost growth in 2012, the European Commission announced today.Growth across the 27 eurozone nations is forecast to slow to 1.5 per cent in 2011 from 1.7 per cent seen this year, but rebound to 1.8 per cent in 2012, the commission said in the latest of its twice-yearly economic forecasts.“With private domestic demand as a whole strengthening, the recovery is said to be increasingly self-sustaining over the forecast horizon,” Economic and Monetary Affairs Commissioner Olli Rehn told a briefing.The main growth engine will be Germany, the bloc’s biggest economy, where growth is likely to slow substantially next year from the 3.7 per cent achieved in 2010, but still be a respectable 2.2 per cent.A weaker global economy will cut demand for euro zone exports, while many of the governments will be slashing spending and raising taxes to return public finances to a sustainable path.The aggregated euro zone budget deficit will shrink next year and in 2012, but debt will continue to rise, with that of Belgium and Ireland becoming larger than their annual output, the Commission said.Concern over the ability of Ireland to service its huge debt, which was boosted by government support to the ailing banking sector, has forced Dublin to seek EU financial help and prompted concerns that Portugal and even Spain could be next.The budget deficit of the countries using the euro will fall to 4.6 per cent of gross domestic product next year from 6.3 per cent expected this year and further to 3.9 per cent in 2012.Government debt is set to rise to 86.5 per cent of GDP next year from 84.1 per cent in 2010 and increase to 87.8 per cent in 2012.“A determined continuation of fiscal consolidation and frontloaded policies to enhance growth, are essential to set a sound basis for sustainable growth and jobs,” Rehn said.“The turbulence in sovereign debt markets underlines the need for robust policy action.”The market spotlight has now turned to Portugal, which has a large debt, but very slow growth and an uncompetitive economy.Weighed down by heavy cuts in budget spending and higher taxes, Portugal will fall back into recession, contracting one per cent in 2011, and return only to weak growth of 0.8 per cent in 2012, the Commission forecast.Lisbon plans to cut its budget deficit to 4.9 per cent in 2011 from 7.3 per cent this year, but its debt will rise to 88.8 per cent of GDP in 2011 from 82.8 per cent seen this year.“In case the fiscal target would be missed because of somewhat lower growth materialising, then the government assumes that is essential still to meet the fiscal target if necessary by taking additional measures,” Rehn said.“And moreover, it is clear that it is essential that Portugal will develop and implement equally ambitious structural reforms to reach its growth potential,” he added.Ireland, which on Sunday agreed on an €85bn rescue package from the EU and the International Monetary Fund, will see its economy grow 0.9 per cent next year after a 0.2 per cent contraction this year, but growth should accelerate to 1.9 per cent in 2012, the Commission said.Dublin will have the biggest budget gap in the EU of 32.3 per cent this year, because of huge costs of supporting its ailing banking sector, but will reduce that shortfall to 10.3 per cent next year and cut it further to 9.1 per cent in 2012.“The Irish economy is flexible and while there are serious challenges concerning public finances and especially the banking sector… it has the capacity of rebounding rapidly from this recession. Export growth is already a fact,” Rehn said.Spain, also in the market spotlight because of its low growth and a potentially costly repair of its banking system, will contract 0.2 per cent in 2010 but grow again 0.7 per cent in 2011 and 1.7 per cent in 2012, the Commission said.Its deficit is to fall to 6.4 per cent in 2011 from 9.3 per cent in 2010 and to 5.5 per cent in 2012 as Madrid’s austerity measures kick in. Spain wants to cut its budget deficit to six per cent next year, a target Rehn called challenging.“The Spanish fiscal strategy…is on track. If growth next year is lower than expected, it is necessary to take further measures to make sure that the fiscal target is met,” he said.While deficits will decline, debt will still rise.The highest debt of all EU countries will be in Greece, where debt will balloon to 105.2 per cent of GDP next year from 140.2 per cent in 2010 and rise even further to 156 per cent in 2012.Belgium will see its debt rise from 98.6 per cent of GDP this year to 100.5 per cent in 2011 and to 102.1 per cent in 2012.Ireland’s debt is also likely to grow to 107 per cent of GDP next year from 97.4 per cent expected in 2010, and to jump to 114.3 per cent in 2012. Tags: NULL alison.lock whatsapp Monday 29 November 2010 9:34 am Spending cuts to slow Europe’s 2011 growth 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 PastSerendipity 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 Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Center Share Show Comments ▼last_img read more

We need more large multinationals

first_img Share We need more large multinationals whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org whatsapp Show Comments ▼ POLITICIANS often try and drive a wedge between small and large businesses. The former are portrayed as the real heroes, to be helped whenever possible (albeit only rhetorically, of course); the latter are treated with suspicion. Like much of what passes for informed debate these days, however, this distinction is bogus. Small and large firms are both equally vital to the economy; their relationship is quietly symbiotic.Small firms create a large chunk of new jobs; they are a central driver of entrepreneurial innovation and risk taking. They create the new large businesses of tomorrow. We need more entrepreneurs. But large multinationals are just as essential to economic performance: they are responsible for promoting best practices, importing knowledge and know-how from all over the world and are the key drivers of productivity growth. Governments should aim to create a level playing field, maximise competition and dismantle subsidies and artificial barriers. That means ensuring that the new resolution procedures and all the other reforms to the banking sector remove any artificial, state-created advantage to big firms. It also means ceasing to heap ever more labour market regulations onto business – the extension of paternity leave will, like all similar measures, hit smallest firms hardest as they don’t have vast resources or infrastructure in place to deal with constant staff upheavals. The best research on how multinational are essential to economic growth can be found in a recent report from McKinsey, the management consultants. The analysis focuses on the US but all the conclusions are identical for the UK – if anything, they are even more likely to hold here in our ultra-international economy. At last count, US multinationals directly accounted for 23 per cent of US private-sector value added (indirectly, if all contractors were included, many of them smaller firms, this would rise to 34 per cent). Since 1990, however, they have been responsible for 31 per cent of the growth in GDP and 41 per cent of gains in US labor productivity, which is hugely disproportionate. Given that productivity increases account for nearly three-quarters of US economic growth since 2000, with the rest coming from employment gains, multinationals are thus critically important – and will be equally so in all other Western and Asian economies where the labour force is slowing or in decline. Compared with other companies, multinationals are twice as concentrated in globally competitive sectors. They account for three quarters of private R&D spending. They pay higher average wages than other companies. They account for almost half US exports and more than a third of its imports.This is why we should be deeply worried by two phenomena: there are too few world-beating giant multinationals being created in the UK; and many existing ones are relocating their HQs for tax purposes out of Britain. Both these trends must be reversed. The coalition is right to care about small firms (though, in practice, this is just useless lip-service). But it is wrong to be so relaxed about the exodus of corporate HQs of many of the largest firms, including WPP, Henderson and Shire. Britain needs once again to set out to attract multinationals, not to repel them. There is not one moment to [email protected] me on twitter: @allisterheath Sunday 16 January 2011 11:05 pm Tags: NULL KCS-content last_img read more

Tullow falls on Mauritanian oil disappointment

first_img Wednesday 16 February 2011 8:22 pm KCS-content Show Comments ▼ More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.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.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKansas coach fired for using N-word toward Black playerthegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com TULLOW OIL was one of the biggest fallers in the FTSE 100 yesterday after it abandoned a well in Mauritania and French oil firm Total and said it was renegotiating its deal to buy a stake in Tullow’s oil fields in Uganda. The offshore well was plugged after hitting poor quality oil reservoirs.Tullow is waiting for approval from Uganda before selling stakes in its oil blocks to Total and Chinese group CNOOC. The deal has been held up by a tax dispute between Uganda and Tullow’s former partner Heritage Oil.Tullow shares closed 0.7 per cent higher at 1,409p, against a larger rise in the blue chip index. whatsapp Tullow falls on Mauritanian oil disappointment Share whatsapp Tags: NULLlast_img read more

Capital Shopping shuns acquisitions in move to make more cash from malls

first_img KCS-content More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tags: NULL whatsapp Capital Shopping shuns acquisitions in move to make more cash from malls whatsappcenter_img Wednesday 23 February 2011 8:37 pm CAPITAL Shopping Centres (CSC), the UK’s largest mall owner, will squeeze organic revenue and profit growth from its portfolio of prime assets in 2011, ahead of chasing more blue-chip mall acquisitions.Chief executive David Fischel said yesterday CSC’s main focus this year was to drive growth in like-for-like rental income, and enhance and extend existing assets.CSC also needs to integrate its newly-acquired Trafford Centre in Manchester. The £863m buy was opposed by US mall owner and CSC shareholder Simon Property , which dropped a bid for CSC in January. The company, which owns 14 prime UK malls, booked net asset value (NAV) per share of 390p for the year to the end of December, up from 339p a year earlier.It has identified 1.4m square feet of extension opportunities at its existing properties, offering better returns than a new development, it said yesterday. Including the Trafford Centre, CSC has about 15.5m square feet of retail floor space. Full-year net rental income from continuing operations was £277m, from £267m in 2009.Panmure analysts said in a note: “We remain happy with our 2011 estimated NAV forecast of 400p and continue to believe this looks a fair level for the shares to trade at.” 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 Show Comments ▼ Sharelast_img read more

Mouchel confirms sale talks “advanced”

first_img Tags: NULL whatsapp Share Show Comments ▼ 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 Thursday 24 February 2011 3:13 am whatsappcenter_img Mouchel confirms sale talks “advanced” 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 PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald John Dunne Mouchel has confirmed its is locked in talks over a possible takeover from a “preferred bidder”, believed to be Costain. The business services group said in a statement to the stock market: “The Board is pleased to confirm that it is now in advanced discussions with one potential offeror and has signed a co-operation agreement with that preferred trade purchaser (the “Preferred Possible Offeror”) in relation to a potential offer being made for the Company.”Mouchel revealed last month that it had received a number of approaches for the business.It is understood that it has rejected three offers from Costain as the board held out for a better price. Mouchel values the firm at around £175m.Mouchel added: “Although the board of Mouchel considers that the company has a strong future as an independent business, it believes that the strategic logic of a combination of Mouchel and the Preferred Possible Offeror would provide the best option to deliver value to shareholders.“The making of any offer by the Preferred Possible Offeror remains subject to a number of pre-conditions, including the satisfactory completion of mutual confirmatory due diligence and the arrangement of financing which is likely to take a number of weeks.” last_img read more

Labour calls for £2bn tax on bonuses

first_img Show Comments ▼ Labour calls for £2bn tax on bonuses Share whatsapp 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 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Tags: NULL whatsapp KCS-content Monday 14 March 2011 9:21 pm LABOUR shadow chancellor Ed Balls yesterday claimed the government could create 110,000 jobs and build 25,000 new homes by clobbering the banks with a £2bn tax on bonuses. Balls, who is seeking to flesh out Labour’s economic policy ahead of the Budget on 23 March, said the tax would “boost jobs and growth”. He urged the government to spend £600m on a job creation scheme for unemployed youths – similar to the now-defunct future jobs funds – which he said would generate 90,000 jobs. Labour’s future jobs fund was scrapped last year by the coalition after a Department for Work and Pensions study showed that 50 per cent of participants were back on benefits within seven months of joining the scheme. Balls said the government should also put £1.2bn towards building 25,000 new homes, which he said would create a further 20,000 jobs – bringing the total to 110,000.A further £200m should be used to boost the regional growth fund, he said. Balls accused chancellor George Osborne of pursuing a “reckless experiment to cut too deep and too fast” and said the economy had “taken a turn for the worse”. However, he remained tight-lipped on which spending reductions Labour would oppose and how it would fund the cost to the cash-strapped exchequer. And he repeated his call for a reduction in fuel VAT, despite claims that such a tax cut would fall foul of European laws. last_img read more

Shock drop in UK’s industry knocks pound

first_img whatsapp Wednesday 6 April 2011 7:32 pm KCS-content Shock drop in UK’s industry knocks pound Tags: NULL Show Comments ▼ Sharecenter_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 PastBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailDrivepedia20 Of The Most Underrated Vintage CarsDrivepediamoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell 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.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com STERLING was hit yesterday by a report showing a shock fall in British industrial production.Industrial production fell by 1.2 per cent in February compared to January – the largest fall since August 2009, the Office for National Statistics (ONS) said.The pound plummeted by over half a cent against the dollar in morning trading, as the chances of an earlier interest rate rise appeared to recede, yet eventually recovered to gain on the day.However, the surprise data, which appears out of kilter with recent business surveys, was questioned by some economists.The data showed the manufacturing sector stagnating in February, contrasting with a record high for the month according to a recent purchasing managers’ index (PMI).“We are puzzled by the weakness of the data relative to the PMI survey, and believe that underlying growth momentum is stronger than these manufacturing data indicate,” said Chris Williamson of Markit, which compiles the PMI data.The surprise drop in the wider industrial figure was largely attributed to a 9.5 per cent fall in mining and quarrying, due to reduced oil and gas extraction. While a decline at this time of year is a regular seasonal effect, the drop was greater than usually witnessed, the ONS said.“Yet that component of industrial production is typically volatile from month to month. February’s drop in industrial production is not quite as bad as it first looks,” said Samuel Tombs of Capital Economics.A relatively mild February was another one-off factor behind the figures, as gas supply output fell by 9.2 per cent, and the energy sector as a whole was down 2.1 per cent month-on-month.According to the underlying trend, production was up 0.8 per cent in the three months to February, compared to the previous three months. Manufacturing on the quarter-by-quarter measure was up 1.1 per cent, according to the figures. last_img read more