GUARDIAN DRAGS ITS HEELS OVER RENEWING HAY SPONSORSHIP DEAL

first_imgWednesday 11 August 2010 7:51 pm Tags: NULL whatsapp whatsapp KCS-content Share WHAT with an enthusiastic push into online investment, a string of ill-advised private equity deals and a move to swanky new offices at Kings Cross, it appears more traditional stalwarts of the Guardian’s extra-curricular programme could be coming under threat.A little bird tells The Capitalist that the newspaper’s long-standing sponsorship of the Hay literary festival is currently under review, with a renewal of the deal next year “far from certain”.“Not so,” huffs festival director Peter Florence, though he does admit that after almost a decade with the Guardian in the title sponsor’s spot, Hay is now “renegotiating” its media sponsorship. An announcement is expected in September.Word from the Guardian’s upper echelons is that the “chances are that the sponsorship will be renewed”, with plenty of the usual waffle being spouted about contracts ending and the importance of its key audience.Mind you, that audience has certainly altered a bit in recent years as Hay has broken free from its academic constraints. It’s now a regular hotspot for the doyens of finance and politics – 2010’s sparkling list of attendees included HSBC chairman Stephen Green, big cheeses from fellow sponsors Barclays Wealth and Sky and ministers Michael Gove and David Willetts.CALAMITY CHRISA statistical headache yesterday for employment minister Chris Grayling, after the Department for Work and Pensions rapped out a press release claiming that there are 71,000 households in London where no-one has ever worked, equivalent to 23 per cent of the capital.Perturbed by the maths, a conscientious City A.M.er rang up to check the figures, to be greeted by a red-faced spinner. “It’s actually 61,000 households, equivalent to just seven per cent of London,” she explained, apologetically.This isn’t the first run-in Grayling has had with a calculator, of course: earlier this year, as shadow home secretary, he was publicly rebuked by the head of the UK Statistics Authority for manipulating crime statistic comparisons in the election. Here’s to third time lucky, eh?SEX APPEALWhen it comes to sexual conquests, iPhone users are even more successful than England footballers. That’s the word from dating site OKCupid.com, anyway, which has crunched the numbers on almost 10,000 smartphone owners and found that Apple’s device was up to twice as likely to get its owner some bedroom action as those with BlackBerry or Google Android phones.Men with iPhones had on average 10 sexual partners by age 30, compared to 8.1 for the BlackBerry and a pitiful six for the Android. The effect, it would appear, is even more pronounced for female iPhone users, who had around 12.3 partners by age 30, compared to similar numbers to the men for the other two devices.FISH BOWLThey say looking at fish swimming peacefully in an aquarium promotes psychological and physical wellbeing, so the many City workers moving into the newly-constructed Heron Tower are set to be a very healthy bunch indeed.The tower yesterday took delivery of Europe’s largest privately-owned aquarium, shipped to Bishopsgate all the way from Colorado. Once it has been filled, the 12m x 4m x 2m tank will hold 70,000 litres of water and will be home to more than 1,200 tropical marine fish imported from the eponymous Heron Island, located off the Great Barrier Reef.GREED IS GOODInvestors who are easily star-struck should probably steer clear of the CLSA investor conference in Hong Kong next month, where none other than Hollywood star Michael Douglas is due to be guest speaker.Douglas’ main credential for the job is his role playing trader Gordon Gekko in the Wall Street films, though he’s not afraid to bring a bit of alternative spice to the conference – topics will range from filmmaking to nuclear abolition and the prevention of small arms proliferation.CRIME STOPPERSFinally, a bit of sleuthing for our readers, after the British Transport Police got in touch to ask for help solving a case at Liverpool Street station.The incident, which took place on Sunday 11 July at 10.45pm, occurred when a woman began to throw rubbish at three other women outside McDonalds. When her targets asked her to stop, they were assaulted by her male companion, who broke one of the ladies’ eye sockets. The woman is white, between the ages of 20 and 23, with blonde hair which was tied up. She was wearing an orange dress with a leopard print scarf. The man is white, 5’10” and of the same age, with short dark brown hair. Anyone with information can contact BTP 0800 40 50 40, quoting reference 470 and the date of the attack. Show Comments ▼ GUARDIAN DRAGS ITS HEELS OVER RENEWING HAY SPONSORSHIP DEAL More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.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.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comlast_img read more

Aviva hunts for Sharman’s replacement

first_img KCS-content INSURANCE group Aviva has begun its search for a new chairman in time for Colin Sharman’s planned departure in 2013, people close to the company confirmed yesterday. Potential candidates for the job include former Aviva chief executive Richard Harvey, outgoing Barclays chief executive John Varley and ex-financial services minister Paul Myners. Myners declined to comment, while Harvey and Varley did not return calls for comment yesterday. People close to Aviva said yesterday that Sharman was not under pressure to step down, and that the search was still in its early stages. “It’s all part of sensible forward planning for a successor for any FTSE company,” one source said. Reports claimed the insurer has appointed headhunters MWM Consulting and JCA Associates to sound out potential replacements. However, neither firm would comment yesterday, and a source said the search had not yet reached the stage of hiring headhunters. Aviva declined to comment. Sharman, 67, has been chairman of the firm since January 2006, after joining the board in 2005. He was appointed to the House of Lords in 1999. His departure will be one of several high profile reshuffles at the top of FTSE 100 firms. HSBC and Vodafone are also hunting for replacement bosses, while Barclays named Bob Diamond as its new head last week. 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 StrangersNoteableyPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe 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.com whatsapp Sharecenter_img Tags: NULL Aviva hunts for Sharman’s replacement Show Comments ▼ Thursday 16 September 2010 8:47 pm More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.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.comMark Eaton, former NBA All-Star, dead at 64nypost.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comlast_img read more

Centrica takes on Connaught’s gas safety arm

first_img Tags: NULL Show Comments ▼ Share whatsapp whatsapp Centrica takes on Connaught’s gas safety arm 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 Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Tuesday 28 September 2010 10:15 pm KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof THE OWNER of British Gas has bought a chunk of Connaught’s surviving business and taken on 600 employees, the energy giant announced yesterday. Centrica paid £11.2m yesterday for the gas and electrical safety branch of Connaught Compliance, one of the few parts of the firm to escape administration. It has also bought Connaught’s training academy in south Wales. British Gas said the move gives it a platform to develop its business energy services. “It is great news for the people at Connaught, its customers and for British Gas Business’s existing customers,” said Kanat Emiroglu, managing director of British Gas Business. The company did not look at the other branches of Connaught Compliance, which will continue to operate as a standalone firm with 1,300 employees after agreeing further funding with lenders. Morgan Sindall is still in talks with local authorities to take over 93 of Connaught’s social housing contracts, after agreeing to take on the work ealier this month. Several councils have expressed concern that the deal could breach EU procurement law. last_img read more

Partner profit rises at Magic Circle law firm

first_img whatsapp Partner profit rises at Magic Circle law firm 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 AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 whatsapp Sharecenter_img Tags: NULL KCS-content Show Comments ▼ Tuesday 12 October 2010 9:05 pm Profits per equity partner (PEP) at “Magic Circle” law firm Clifford Chance rose to £933,000 last year, according to the firm’s accounts, after the firm cut more than 40 top end partners. The amount of profits divided by the number of partners soared by 25 per cent from the previous year, when PEP came to £733,000, but the number of partners sharing the proceeds fell. In 2009, Clifford Chance had an average of 413 partners in the top rung of its partnership, but that figure fell to 372 after it conducted a £53m restructuring of its business.A spokesperson from the firm said that a 10 per cent reduction in costs and a 13 per cent rise in its overall profits contributed to the increased PEP.Headcount across the firm’s entire partnership decreased from 637 to 562 after the huge overhaul. Overall staff numbers?– which include non-partners – fell by more than 800 to 6,309 through the year.The redundancies meant Clifford Chance spent £536m on staffing costs in 2010, a fall of £41m on the £577m it paid in 2010. Revenue for the year fell by five per cent to £1.19bn, putting it roughly in line with rival Allen & Overy, which saw its revenues fall by four per cent to £1.09bn. Asia remained Clifford Chance’s strongest region, after turnover increased by 20 per cent to £125m. The firm’s Americas practice saw a slight dip in turnover to £140m, compared to £143m a year earlier. But Clifford Chance’s UK and Gulf business took the biggest hit, with revenue streams falling by £44m during the year to £456m. last_img read more

Cobham is hit by delays on US contracts

first_img Show Comments ▼ 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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller 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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com KCS-content DEFENCE company Cobham said continued delays in the award of US defence contracts would dent full-year sales and that it was uncertain about its growth prospects for the rest of 2010.Cobham, led by Andy Stevens, said in a trading update: “Given the uncertainty over growth in the fourth quarter, the board recognises that the group could make only limited underlying progress in the full-year.”Its share price went on a rollercoaster ride plunging 8.6 per cent to 213.8p on the news this morning before recovering to close 0.9 per cent up at 230p. The Dorset-based firm, which makes fuel tanks for F-16 fighter planes and weapons release systems for the Eurofighter Typhoon, warned of delays in August and May but still increased its interim dividend by 10 per cent and expressed some hope that trading would pick up. Cobham said that limited progress in the full-year would come largely as a result of cost savings, which would amount to around £10m.Revenues at its manufacturing divisions, which account for 87 per cent of its turnover, were also slightly down in the first nine months, Cogham said.However, it welcomed Britain’s move to beef up its cyber security following the strategic defence review and said its strong position in high technology defence and security markets “reinforces the board’s confidence of continuing progress over the medium term”. Cobham said its net debt decreased to £319m at the end of September compared to £373m in the three months to 30 June as a result of strong operating cash conversion in and favourable exchange movements. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMagellan 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.com whatsappcenter_img Share Wednesday 3 November 2010 9:38 pm Cobham is hit by delays on US contracts Tags: NULLlast_img read more

…as Fed steps in again

first_img Show Comments ▼ Q.WHAT IS QE2?A. It is the Federal Reserve’s second round of quantitative easing after its initial asset purchasing programme of $1.7 trillion started during 2009 and finished in March this year. This time, the Fed has announced a smaller programme: it plans to buy up $75bn’s worth of assets each month until June next year, for a total of $600bn – although it could adjust its stance in response to economic data. In order to make these purchases, the Fed essentially creates or “prints money”. The latest announcement is in addition to $250-$300bn of maturing debt from its last round of QE, which the Fed has said it plans to reinvest.Q.WHY IS THE FED DOING THIS?A. With interest rates at near zero, the Fed has run out of normal monetary policy tools with which to stimulate the US economy. QE is an attempt to lower long-term interest rates further and encourage lending and demand. The hope is that this will bring down the US’s 9.6 per cent unemployment rate and head off deflation.Q.HOW IS IT SUPPOSED TO WORK?A. It is not entirely clear. Last time, the programme worked in part by buying up toxic mortgage securities and taking them out of the market. But this time, the Fed is only buying bonds. Some argue that by pushing down US treasury yields, QE will make alternative assets more appealing and lower the cost of borrowing generally. Yields on 10-year treasury notes declined slightly yesterday to 2.57 per cent from 2.58 per cent yesterday, reflecting the extent to which the market had already priced in the announcement. In addition, QE affects exchange rates because it increases the supply of dollars and effectively depreciates the currency, making American exports more attractive. The dollar index slid to 76.4 from 76.7 yesterday.Q.WHAT ARE THE RISKS?A. The main criticism is that QE is likely to be ineffective while having numerous downsides. There is the possibility of a spike in inflation if the recovery gathers pace, which could destabilise the US economy and get out of control. In addition, critics say that creating money artificially pumps up asset prices, creating bubbles that will at some point burst and damage growth. Abroad, other countries see QE as a competitive devaluation, increasing the risk of currency wars and retaliation with tariffs. whatsapp 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 TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMagellan 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.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Wednesday 3 November 2010 10:37 pm …as Fed steps in again whatsapp KCS-content Tags: NULL Sharelast_img read more

Adidas bullish on growth as sales rise again

first_img THE world’s second biggest sports goods maker, Adidas, yesterday announced an upbeat outlook for 2011.Adidas forecasts a rise of 10-15 per cent in earnings per share in 2011.The company also reported strong sales in the US and eastern Europe of €3.47bn (£3.05bn) in the third quarter, beating analysts’ forecasts and cheering investors.Adidas – which also owns the US brand Reebok – had previously enjoyed a boost from sales related to the 2010 World Cup. Adidas bullish on growth as sales rise again KCS-content 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 TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.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 FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach Raider Share whatsapp Tags: NULLcenter_img whatsapp Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark 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.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBiden 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.comWhy people are finding dryer sheets in their mailboxesnypost.com Thursday 4 November 2010 10:44 pmlast_img read more

BT pension deficit slashed by £3bn by new inflation measure

first_imgFriday 5 November 2010 12:20 am Show Comments ▼ whatsapp BT pension deficit slashed by £3bn by new inflation measure Tags: NULL BT’S mammoth pension deficit will fall by £2.9bn thanks to a change that will link pension payments to the Consumer Prices Index inflation meaure instead of the Retail Prices Index. The fall in deficit, which stood at £9bn in 2009, will immediately have an impact on interest payments made by the telecoms giant.It will also have an affect on BT’s contributions to the scheme when the level of deficit is recalculated at its triennial review in 2011. BT has already suggested the deficit has dropped to around £6.6bn since 2009. The reduced liabilities will mean BT could end up either paying less than its current £525m a year contribution, or paying off the sum sooner than planned.Future pension increases for 266,000 former workers will now be around 0.75 per cent lower than before, translating to a cut of almost a fifth in payments.BT has stressed it has no say in the implementation of the new inflation measure, which was applied to all public sector pension schemes by the coalition in July. The City welcomed the move, with shares in the firm jumping almost 3.3 per cent to 161.6p. whatsapp Share KCS-content 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap last_img read more

Standard gets 98.5 per cent rights backing

first_img Show Comments ▼ whatsapp STANDARD Chartered said investors representing 98.5 per cent of its shares signed up for its $5.3bn(£3.3bn) rights issue, which will boost the Asia-focused bank’s capital ahead of tougher global rules.Standard Chartered yesterday said it had received valid acceptances in respect of 256.7m shares offered to shareholders. Bookrunners will sell the shares not taken up, probably early today.The offer — the third-biggest rights issue this year after Deutsche Bank and UniCredit — gave investors the chance to buy one new share at 1,280p for every eight owned. The bank’s London listed shares closed at 1,950p on Friday, remaining remarkably strong despite the discounted rights issue.Standard Chartered said it wanted to continue to seize opportunities across Asia, Africa and the Middle East and tougher capital rules could have constrained its asset growth unless new cash was raised.The bank denied that it wanted to make any sizeable acquisitions with the new money, although some in the City are sceptical of this and expect an acquisition to be made within the next 12 months or so.Standard Chartered chief executive Peter Sands is deemed to have had an excellent crisis, having largely kept the bank out of the many maelstroms that have engulfed the financial sector. He played a part in helping the former Labour government to come up with a plan to recapitalise the banks.Like Barclays and HSBC, Standard has made noises about leaving the UK if it feels the regulatory environment is more hostile than in other territorities. Alone amongst the major UK banks Standard does not have a UK retail network. 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap 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 Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach Raider KCS-content center_img Sunday 7 November 2010 9:16 pm Share Standard gets 98.5 per cent rights backing whatsapp Tags: NULLlast_img read more

Spotify could miss Christmas US launch

first_imgTuesday 23 November 2010 7:12 pm Spotify could miss Christmas US launch Spotify’s US launch is being met with increasing scepticism by analysts.The music streaming service said this week it will press ahead with its plans to launch in the US before Christmas, despite announcing a full-year loss of £16.7m for 2009.“I’d be very surprised if they manage to pull this off in the timeframe they are talking about,” Ben Rumley of Enders Analysis told City A.M. “They have been talking about a US launch for a very long time now but negotiations are moving very slowly. The stumbling blocks are the same as they were six months ago, I can’t see what has changed.“The US is a nice headline place to launch but it isn’t necessarily right for this business. There have been other players over there for almost eight years who have seen little success. Despite their losses last year, the business in Europe is growing. There is a feeling it should concentrate on Europe before attempting a US launch.”There is speculation the firm may attempt to press ahead with a low-key launch, which may exclude tracks owned by one or more of the big four US labels. Spotify says it is still in negotiations with all four.The firm said in accounts released this week that it is in negotiations for extra funding to support its growth plans.Despite gathering a subscriber base of more than 10m – around five per cent of whom pay for the premium service – Spotify has been dogged by rumours it will collapse under the weight of its royalty payments. This was highlighted by auditor Ernst & Young, which noted “material uncertainty which may cast significant doubt about the group’s ability to continue as a going concern.” Tags: NULL Share whatsapp whatsapp Show Comments ▼ More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding 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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com KCS-content last_img read more