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Planting the seeds of another crisis

first_img Share Thursday 2 September 2010 8:52 pm 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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org whatsapp KCS-content whatsapp FOR some bizarre reason, the creation of three new European Supervisory Authorities and the European Systemic Risk Board – a major power-grab for Brussels – was welcomed last night by Conservative MEPs. Vicky Ford, one of their numbers who took part in the negotiations, admitted that “this is very complex multi-layered legislation and it needs to be checked by legal experts over the coming days” but nevertheless called for it to be “put into action.” Regrettably, it almost certainly will be, even though even its supporters aren’t fully au fait with the fine print. Far from being a good thing, the new regulatory regime will turn out to be yet another blow to Britain’s competitiveness, costing jobs and tax receipts.We should never forget how important the City is to Britain. Tim Congdon, the economist who runs International Monetary Research, has crunched the numbers. Exports of financial services increased from 0.5 per cent of GDP in 1970 to 3.5 per cent of GDP in 2009, despite the collapse that year in the sector’s output. The rise in financial exports roughly matches the increases in finance’s share of GDP; in other words, virtually all of the growth in finance since 1970 has been exported. A somewhat wider definition of financial services which embraces insurance and half of other business services (such as legal and accountancy work and some IT) – implies than exports of what Congdon terms ‘”the financial complex” as a whole are about 6-7 per cent of UK GDP – and an extraordinarily important 20 per cent of total exports of goods and services. With manufacturing – the traditional source of exports – in long-term decline, the City is thus vitally important to Britain’s ability to pay its way in the world; undermining the sector (as opposed to reforming it to make it more sustainable and less prone to busts) would be a terrible mistake. Yet that is exactly what this latest transfer of powers to the EU will do. There is no need for it: reforms can all be implemented by national regulators; ditto with changes to monetary policy. One of the big unheeded lessons of the crisis is that it is dangerous for all countries to pursue similar policies: there is nothing worse than everybody getting it wrong at the same time. The international Basel accords on capital adequacy turned out to be disastrously misguided and helped propagate the recession globally; the same is true of international accounting standards that forced inappropriate mark-to-market pricing of securities around the world. Central banks, fixated on consumer price inflation rather than on the money supply or the quantity of credit, encouraged asset price bubbles which almost took the world economy down with them when they finally went pop. Countries even took to slashing interest rates in tandem. Groupthink breeds uniformity; uniformity inevitably leads to stupidity.My argument is the very opposite to that which is now made almost universally by politicians and pundits – they claim we need a single, coordinated, harmonised set of policies in response to the crisis. But proponents of the received wisdom are merely planting the seeds of an even greater fall the next time around. Regulatory competition and experimentation between nations is a good thing; it serves as a process of discovery and needs to be encouraged, not killed off. The EU, of course, has never understood this – but the rest of us forget it at our [email protected] Show Comments ▼ Planting the seeds of another crisis Tags: NULLlast_img read more

 

Resurgence of business demand boosts recovery for London hotels

first_img A ROBUST recovery in the fortunes of London’s hotel industry is set to continue apace over the next year, according to new research out today.The average room rate at hotels within the capital is set to rise seven per cent in 2010 to £124, according to the latest PricewaterhouseCoopers UK Hotels Forecast, boosted by the economic upturn and a resurgence in international and business demand. The rise is due to buoy revenue per available room (Revpar, a key industry measure) by almost nine per cent.Room rates will rise further to £130 next year as the recovery takes hold, PwC predicts.“London’s hotel scene continues to bask in the glory of its recovery,” said Robert Milburn, PwC’s UK hospitality and leisure leader. “Much will depend on the wider economy, confidence and continued favourable exchange rates, but we expect London to maintain this pace.” Thursday 16 September 2010 8:05 pm Show Comments ▼ KCS-content whatsapp Sharecenter_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 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 Resurgence of business demand boosts recovery for London hotels More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding 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.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.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Tags: NULLlast_img read more

 

TUI CFO quits after black hole found in finances

first_img Show Comments ▼ whatsapp Share whatsapp TUI CFO quits after black hole found in finances More From Our Partners A 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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com 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 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 Times TUI Travel, Europe’s largest travel company, restated 2009 results and said its finance chief will go after stumbling across £117m ($185m) owed by customers that will now have to be written off.TUI Travel, controlled by Germany’s TUI AG , said that having written off £29m at the time of its third quarter results in August, an ongoing audit had uncovered a further £88m of irrecoverable balances.“These have arisen as a result of failures to reconcile balances adequately in legacy systems,” TUI Travel said in a statement on Thursday. “As a result, TUI Travel now believes it is appropriate to restate its results for the year ended 30 September 2009.”The company said it had been integrating IT systems.The impact on its 2009 result will be to knock 2.8 pence off earnings per share, cutting them to 21 pence from the 23.8 pence previously reported.For the 2010 business year just ended, TUI said it remained confident results would be in line with previous guidance and that net debt would be lower than previously indicated.TUI said Chief Financial Officer Paul Botwell had resigned and would leave the company at the end of this year.“Paul is behaving honourably and I am disappointed that he will be leaving the Group. He is one of the most capable Chief Financial Officers I know,” Chief Executive Peter Long said in a statement. “I have specifically asked Paul to remain with the business to see through the full year audit.” Thursday 21 October 2010 3:52 am John Dunne Tags: NULLlast_img read more

 

Cable & Wireless on target despite cuts

first_img Show Comments ▼ John Dunne Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeUndoLiver HealthAdvertisement 1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndo Cable & Wireless on target despite cuts Telecoms firm Cable & Wireless Worldwide is comfortable with full-year expectations after posting first-half sales and earnings in line with forecasts despite pressure from cuts to UK public spending.C&W Worldwide, which concentrates on the global corporate market and has a large presence in Britain, said the “satisfactory” results had been held back by the challenges in the UK public sector but said they had developed good momentum by the end of the first half. The group posted revenues down 1.6 per cent to £1.12bn, in line with a company-supplied forecast. Earnings before interest, tax, depreciation and amortisation (EBITDA) were up 4.4 per cent to £214m, also in line with forecasts.Pretax profit at £53m was comfortably ahead of the forecast of £40m.C&W Worldwide said the strong finish to the first six months had given it good momentum going into the second half of the year and said a Memorandum of Understanding it had with the British government would help it build its presence in this market.“Overall we remain comfortable with full year expectations,” chief executive Jim Marsh said in a statement. Tags: NULL Sharecenter_img whatsapp 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.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Tuesday 16 November 2010 3:12 am whatsapplast_img read more

 

The Tube boss who is battling to rebuild the world’s oldest network

first_img whatsapp Tags: NULL Show Comments ▼ It has been a tough few months for the new managing director of London Underground. Mike Brown, a company veteran who returned in March, faces his fourth strike over the axing of ticket office jobs in a matter of weeks.Tube unions RMT and the Transport Salaried Staffs’ Association say getting rid of 800 ticket office jobs will make stations dangerous. London Underground, which employs 12,500, say they want staff out on the stations rather than cooped up in offices. It adds that because of voluntary redundancies and unfilled posts over 500 of these jobs have gone already, and what the unions really are fighting is the modernisation of the 157-year-old network.“I want staff to be more flexible, I make no apology for that,” says Brown in a surprisingly soft Belfast accent. “Every business in the country has to respond to new technology as it comes along. We will not run a service that is stuck in the 1960s. There is no alternative to modernisation.”A resolute Brown is sitting in a small office next to the Tube’s network operations centre, where all of the systems’ 11 lines and 270 stations are monitored. It is on the first floor of the network’s art deco headquarters above St James’s Park station. The short, trim Brown is a little over six months into his second stint at the Tube, and he could hardly have come back at a more challenging time.The network’s 30-year, £29bn public private partnership has collapsed after just seven years, leaving him to direct the necessary upgrades. Crossrail, the largest civil engineering project in Europe, must be smoothly integrated into his network. All of this must be managed after an eight per cent budget cut as a result of the Comprehensive Spending Review (CSR). And one of the most powerful unions in the country has already shown that it is willing to strike if it does not like the change in working practices these new projects threaten. The next union stoppage is set for 29 November, though both sides are still in talks.Brown says the Oyster card has “transformed” Tube travel in the same way the ATM has changed the way people get cash from their accounts.He says: “How many people do you know who write a cheque to themselves and take that to a cashier in a bank? Not many. And with Oyster people have also moved on. They buy online or from kiosks. We can’t have people sitting in offices selling a few tickets every hour. Unions need to wake up to the reality of where we are right now. We are willing to listen to safety concerns. But the unions have not put a genuine safety issue on the table.”Brown argues that he is making headway against the effects of the strike. During the third stoppage earlier this month he ran 50 per cent of the network, compared to 40 per cent of trains during the second walk out.Unions have asked Mayor of London Boris Johnson to join the talks in a bid to break the deadlock. But Johnson has said he has no plans to reward “bad” union behaviour with “beer and sandwiches at City Hall.” Brown agrees: “I brief the Mayor every week. But it’s right that he leaves the talks to us.”However, many Londoners feel that once this issue is settled another concern over modernisation will arise and both parties will be back to square one. And that RMT general secretary Bob Crow, who is popular among his members (but not the public) for winning them good pay and conditions, will again call out the Tube’s drivers on another strike.Brown counters: “I’m more optimistic than that. I’m proud of the announcements our drivers make when things go wrong. I’m proud of the way our staff help the public in our stations. They understand changes have to be made.”The Tube PPP was introduced in 2003 to finance much-needed upgrades to the network. And while £12bn has been spent in that time with some good station improvements carried out, Brown is clear the process failed to move quickly enough or take on the biggest challenges.London Underground is now in charge of its rebuilding programme after it bought one of the two upgrade firms, Tube Lines, in June for £310m, after the company said it could not manage the next seven-and-a-half year tranche of work for the £4.46bn set by the PPP arbiter Chris Bolt. The other upgrade company Metronet collapsed in 2008, and had to be absorbed into London Underground at a cost of £2bn to the taxpayer. Brown says: “There was some delivery under PPP. But there was little momentum on the large big ticket projects that will really make a difference to London.”By this Brown means signalling. New stations and trains may look good, but “signalling is absolutely crucial to the network. It allows trains to run closer together, more frequently and adds capacity.”This is what the PPP failed to deliver, says Brown. Now it has taken over from Tube Lines, he says, the signalling on the Jubilee Line, which will add 30 per cent capacity, will finally be ready by spring 2011, two years behind schedule.Past signal testing on this line has performed poorly and Brown says part of the problem “is that we could never talk directly to the signalling company. We had to go through Tube Lines. Too often during the PPP we were reduced to the role of an interested observer.”Brown adds that he is at the final tender stage for the signalling on the network’s three main sub surface lines – the Metropolitan, Circle and District lines. These lines also have 191 trains on order, a few of which will come into service before Christmas.The Victoria Line has about half of its 40 new trains in service with the remainder coming in by the middle of next year, which will add 30 per cent capacity to the route.Victoria station has begun a £700m refurbishment, which like the King’s Cross development, will open up the concourse and prevent overcrowding. The new Victoria station, which accommodates 91m passengers a year, will be completed in 2018.Brown also wants to restart work on the Northern Line signalling early next year. He stopped work here in the summer after it bought Tube Lines because the early evening and weekend closures were causing too much passenger disruption. He is currently talking to local businesses about the best way to go forward and is studying if block closures may be less painful. Work on the Northern Line is set to start again in the first quarter of next year and be completed in 2018.But whatever way you look at it the Tube will undergo another “eight or nine years” of major work says Brown.The Tube boss says Johnson did “a fantastic job” fighting the case for London during the CSR. After extra borrowing from the markets and boosted fares, transport in the capital now faces an eight per cent cut of its £9.24bn annual budget. Brown is sure his department can make up this difference out of efficiency savings.Crossrail will have its budget cut by £1bn to £15bn and will be completed a year later in 2018 as a result of the CSR.Some critics are concerned that Crossrail’s interconnections with the Tube – at Farringdon, Bond Street and Tottenham Court Road – is where cash will be cut from the project, which in fact would lead to increased congestion rather than easing it. However, Brown is adamant that these vital connections will not be “descoped.” He says: “Crossrail and an upgraded Tube will ease congestion in London. But the two must come together, it is not an either or option.”What is clear is that Brown will face a lot of hard choices over the next few years as the rebuilding of the world’s oldest Tube network, his duty to passengers and his relations with the unions pull him in different directions.CV | MIKE BROWNAge: 46Work: Returned to London Underground as managing director in March 2010; managing director of Heathrow for BAA from 2008-2010; chief operating officer at London Underground from 2003-2008; works his way up the London Underground ranks from 1989-2003; joins London Underground as manager of Neasden cleaning depot in 1989; starts his career as a graduate trainee at Rank Hovis McDougallEducation: Queen’s University, Belfast, where he read economics; MBA Family: Married, one sonLives: Wimbledon Share KCS-content center_img Wednesday 17 November 2010 7:45 pm whatsapp The Tube boss who is battling to rebuild the world’s oldest network last_img read more

 

Aldermore in shake-up

first_img Share Aldermore in shake-up 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 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 TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoam COLIN Snowdon, chief executive of Aldermore’s residential mortgage lending, has left after less than a year with the firm. Snowdon is believed to have left by mutual consent.He was one of the key players at Aldermore, responsible for building up the group’s residential lending business.Aldermore, one of the new banks to have emerged out of the financial crisis, announced Snowdon’s departure as part of a reorganisation.It has appointed Charles Haresnape, former group mortgage service director at Connells Group as managing director of residential mortgages at Aldermore.The mortgage division will be headed by Mark Stephens, deputy chief executive office at Aldermore.Aldermore scored a coup earlier this month with the appointment of City veteran Sir David Arculus as its new chairman.Aldermore, which is backed by Anacap and Morgan Stanley, started out by specialising in commercial lending to SMEs. It began lending on buy-to-let mortgages in May this year. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comWhy people are finding dryer sheets in their mailboxesnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.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.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Thursday 25 November 2010 8:17 pmcenter_img whatsapp Show Comments ▼ KCS-content Tags: NULLlast_img read more

 

Apax close to buying ISS for up to $8.5bn

first_img Share Apax close to buying ISS for up to $8.5bn KCS-content whatsapp Wednesday 8 December 2010 9:17 pm LONDON-based private equity group Apax Partners has won exclusive talks to buy cleaning giant ISS for up to $8.5bn (£5.3bn), sources close to the companies confirmed yesterday, in what could be the biggest buyout in Europe since the credit crisis. Apax has several months to thrash out a deal with current owners Goldman Sachs and Swedish buyout company EQT, people close to the negotiations told City A.M.Danish firm ISS is still pushing ahead with plans for an IPO early next year, with meetings between senior staff scheduled for next week, one source said yesterday, heaping pressure on Apax to table a suitable offer quickly. “The strategic review is ongoing. We are looking at all the possibilities,” said an ISS spokesperson yesterday, who declined to comment further.ISS hired Goldman, Rothschild and Morgan Stanley to help consider a flotation or sale in August, following its failed attempt to float three years ago as the credit crisis hit. Apax is currently bidding alone, and is expected to ask investors and existing debt providers including Citigroup to help fund the deal due to its investment limit of around $1bn. However, a source close to the company said yesterday that the firm had not yet approached potential backers. Rival bidding groups including CVC Capital and Apollo, and Bain Capital, Nordic Capital, Clayton Dubilier & Rice and Blackstone have reportedly been rejected. ISS, which was taken off the Danish stock exchange by Goldman and EQT for in 2005, has cleaning contracts with the NHS, Citigroup and UK embassies and produced turnover of DK18.5bn (£2.1bn) in the latest quarter. It employs around 45,000 people in the UK, which is its second-largest market. Apax, Bain Capital and Goldman Sachs declined to comment, while CVC Capital and Citi could not be reached. whatsapp Show Comments ▼ 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 Tags: NULLlast_img read more

 

China to appeal WTO tyre ruling

first_img China to appeal WTO tyre ruling Show Comments ▼ China plans to appeal a World Trade Organization ruling that the US was entitled to impose extra safeguard duties on Chinese tyres, the Ministry of Commerce said yesterday. China’s Ministry of Commerce said in a statement on its website that it was “deeply concerned” about negative consequences from the Monday ruling and condemned the US safeguard measures.“The US safeguard measures adopted toward Chinese tyres are trade protectionism intended to shift domestic political pressure. They are not in line with WTO rules and have been widely criticised,” it said. President Barack Obama imposed the 35 pe rcent duties on Chinese tyres in September 2009. whatsapp KCS-content 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 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 Share Tuesday 14 December 2010 8:59 pm Tags: NULLlast_img read more

 

FINEST FEAST IS BEST WAY TO BLOW BONUS

first_img Tags: NULL Show Comments ▼ KCS-content More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.com Tuesday 18 January 2011 8:11 pm Share center_img A ONCE in a lifetime event raising money for three war veterans’ charities held a glamorous promotional evening last night, with some of the best chefs in the country promising to lay on one of the finest feasts the City has ever seen.The evening, dubbed Square Mile Salute, will be held at the legendary Guildhall on 10 February and will bring together nine of the country’s top chefs.Master of Ceremonies for the night will be Brian Turner, chairman of the Academy of Culinary Arts, who has worked in restaurants including Claridge’s, the Savoy Grill and most recently Brian Turner Mayfair at the Millennium Hotel.He told City A.M., which is proud to be official media partner to the event, that the evening will be the perfect opportunity for bankers to “reinvest their bonuses in three hugely worthwhile charities”.He said: “Forces who have been injured were fighting to protect their country; when they return it is their country’s turn to protect them.“People who work in the City are in a unique position to help them through events like this.“And it will be worth their while. The Academy of Culinary Arts gets accused of being elitist, and we are a little bit proud of that. Gordon Ramsay may disagree but that’s a different matter.”The event will also auction off two specially commissioned paintings by artist Andrew Vicari, who was himself involved in the first Gulf War.Director of fundraising at the Royal British Legion, Russell Thompson, whose charity is one of those benefitting from the night, told City A.M. how the money raised by the event will be spent helping veterans.He said: “We have committed £50m to work with what we call the Afghanistan Generation, helping veterans get back on their feet – often literally. “We will be opening four new personnel centres and a new ‘battle back’ (sports and adventurous training) facility for this specific purpose. These events are incredibly important for that and we know people in the City are incredibly generous and important to our cause.”City A.M. managing director Lawson Muncaster also urged City workers to dig deep for the cause and snap up the last of the tables. To book yours go to: www.squaremilesalute.com. 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 PastSerendipity 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 HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads whatsapp whatsapp FINEST FEAST IS BEST WAY TO BLOW BONUS last_img read more

 

Trading in small caps set to be volatile this Friday

first_img whatsapp Tags: NULL whatsapp KCS-content More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Share Monday 7 February 2011 9:06 pm Trading in small caps set to be volatile this Friday Show Comments ▼ TRADING on London’s Alternative Investment Market (Aim) may be volatile on Friday because this is when CMC Markets will close out any Aim share bets made by its clients.CMC delisted trading in the junior index with no new positions opened via its trading platform on Aim shares after 21 January .Any Aim bets by CMC clients that remain open will be closed out at the closing price on 11 February. CMC’s decision follows its move last year to stop trading in stocks below a certain market capitalisation and reflects the firm’s switch to a new technology platform and its focus on core liquid markets.“It could be a very interesting day for the Aim market and Aim shares as the CFDs get closed out,” Atif Latif, director of trading at Guardian Stockbrokers, said.The closing of CFD trades will have an influence on the physical Aim market as providers of the financial instruments have to hedge the trades by holding the actual stocks to protect their positions.Latif said as much as 50 per cent of Aim market positions could be held via CFDs. last_img read more