Government borrowing on the way down

first_img Share Government borrowing on the way down Show Comments ▼ More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.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.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.com THE Government is cutting Britain’s record levels of borrowing despite tumbling into the red again last month.Official figures showed the state borrowed £3.8bn in July.That compares with the £6.1bn deficit clocked up in the same month last year.The improvement came as corporation tax receipts rose to £8.5bn up – from £6.2bn in July last year. whatsapp John Dunne center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorBrake For ItThe Most Worthless Cars Ever MadeBrake For ItTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal Past whatsapp Thursday 19 August 2010 11:02 am Tags: NULLlast_img read more

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2021-09-04

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WHAT THE OTHER PAPERS SAY THIS MORNING

first_img KCS-content Show Comments ▼ whatsapp Share WHAT THE OTHER PAPERS SAY THIS MORNING center_img whatsapp Tuesday 24 August 2010 8:43 pm FINANCIAL TIMESCIVIL SERVANTS IN PLEA OVER JOBS CULLJohn Bercow, the Commons Speaker, is being urged to stop ministers from rushing through legislation that will slash redundancy terms for civil servants and clear the way for a cull of up to 100,000 jobs. Francis Maude, cabinet office minister, has asked Mr Bercow to approve a fast-track procedure for the bill to come into force by November, allowing ministers to embark on the redundancy plan this autumn.AWB ACCEPTS AGRIUM’S A$1.2BN AWB, the Australian wheat exporter, has abandoned a deal to merge with domestic rival GrainCorp, formally backing a more lucrative A$1.2bn (US$1.1bn) takeover offer from Agrium, the Canadian fertiliser group. AWB’s board said that Agrium had offered “better value”.CHINA FUND BOND SALE FACES criticismThe domestic arm of China’s main sovereign wealth fund completed its first bond sale yesterday, raising Rmb40bn ($5.9bn) from the interbank market as it prepares to help recapitalise some of the world’s largest banks. The bond sale is the first in a planned series by Central Huijin Investments, the domestic arm of China Investment Corp, which aims to raise Rmb187.5bn from the interbank bond market.AIG CALLS ON INVESTORS FOR STAKES IN AIAAIG has approached some of the world’s biggest investors with a view to them taking stakes in AIA, the US insurer’s Asian operation, with strong interest from China, according to people familiar with the matter. AIG is considering placing as much as 30 per cent with institutional investors and wealthy tycoons rather than an IPO.THE TIMESNow BP turns to “Iceberg Alley”BP is bidding for the right to develop deepwater oil projects off the coast of Greenland in a move that has triggered a backlash from environmental groups. The British oil giant, whose reputation for safety was severely dented by the Gulf of Mexico oil leak, is understood to be among 12 companies bidding to develop offshore exploration blocks off Greenland. The area is considered to be one of the world’s most fragile environments.FRANCE PUTS WINDS IN THE SAILS OF OFFSHORE ENERGYFrance launched one of Europe’s most ambitious wind power projects yesterday, unveiling a €10 billion (£8 billion) contract to build 600 offshore turbines in a move that delighted environmentalists. The announcement signals an attempt by Paris to catch up with?Britain.The Daily TelegraphCOMPANIES POSTPONE IT SPENDING IN PREPARATION FOR A SECOND RECESSIONIT investment by business remains weak with the number of new PCs bought in the UK increasing only 5pc in the last quarter, research by Gartner shows. The slight recovery in business demand for desktops and PCs follows a 20pc decline in the whole market last year.BRITONS USE SAVINGS TO FUND EVERYDAY LIVINGMore than half of Britons are dipping into their savings pot to offset the rising cost of living, according to latest research. As many as 56 per cent of savers have taken money from their savings accounts, while an additional 26 per cent said they would do if they needed the money, claimed the survey – carried out over the past fortnight by Moneysupermarket.com.‘WALL STREET JOURNALGENZYME, SANOFI AT ODDS OVER THRESHOLD PRICEGenzyme and France’s Sanofi-Aventis are continuing their discussions about a takeover of the US biotechnology company, said people familiar with the matter, but the two sides remain at odds about a “threshold” price at which Sanofi could begin due diligence on Genzyme.SCANIA TO BOOST PRODUCTION AS DEMAND RISESSwedish truck maker Scania said yesterday it plans to increase production and will create 500 jobs at its European production sites as demand from outside the region rises. The truck maker, which returned to profit in the second quarter after a loss the year earlier, said it plans to increase its production rate in the fourth quarter. About half of the jobs created will be in Sweden. Tags: NULLlast_img read more

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2021-09-04

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CITY CRIMS REFUSE TO STEAL BIKES ON DEMAND

first_img Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoFolliboost Haircare SerumThinning Hair? Use this For 1 Month and See What HappensFolliboost Haircare SerumUndoAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoSttorrieWhere Ron Howard Lives With His Wife Today Is SadSttorrieUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save ThousandsThe No Cost Solar ProgramUndoNinjaJournalistCareless Workers Caught In Jaw-Dropping MomentsNinjaJournalistUndo KCS-content whatsapp Monday 30 August 2010 8:59 pm whatsapp SALFORD CALLINGIT seems the lure of Salford Quays has finally taken hold of senior BBC executives who, after intense criticism for their dogged refusal to budge north of the Watford Gap, are suddenly accepting their fate and heading north.Top brass at Auntie had turned their noses up at lucrative offers of free carpet and curtains at the home of The Smiths. But word that director general Mark Thompson is ready to take to the war path seems to have been enough to convince the likes of Peter Salmon and Richard Deverell that now is indeed the time for a change of scenery.•Victoria Bates is away CITY CRIMS REFUSE TO STEAL BIKES ON DEMAND Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Share BETWEEN BoJo’s bikes and the craze for cycling to work, two wheels are very much in vogue. So it makes sense to take out insurance for your new mode of transport, right? Wrong. Not if a new campaign by insurer Aviva is anything to go by.Britain’s biggest insurer was so sure it was offering a vital service to bike owners it decided to put its money where its mouth was. Last week it left bikes unsecured in theft hotspots across London, hoping willing criminals would give them a bit of positive PR.The only problem was London’s underworld seemed to have taken an early bank holiday weekend. Bikes worth £300 were left sitting pretty outside some of the city’s most notorious areas for would-be thieves for up to two days. Disheartened PRs outside Euston station were eventually forced to ride home themselves, as were Red Consultancy workers (the firm behind the failed stunt) at another undisclosed location outside an office block in central London.Perhaps the site of ungainly office workers wobbling down the road, mud-stained suit jackets blowing in the breeze, has been enough to convince the “yoof” that riding a bike was very last year. Tags: NULLlast_img read more

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2021-09-04

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Moody’s slashes Anglo Irish ratings

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal 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 Credit agency Moody’s slashed its ratings on Anglo Irish Bank’s lower-grade debt, rattling investors as Dublin tots up the final cost of rescuing a lender whose soured loans have crippled the country’s economy.Moody’s cut the nationalised bank’s senior unsecured debt by three notches to Baa3 – just one notch above junk status – citing a small risk the government would not continue to support that class of debt, the agency said. It slashed Anglo Irish’s subordinated debt by six notches to Caa1.The steadily mounting scale of the bank’s rescue has heaped further pressure on already strained public finances, propelling the former “Celtic Tiger” economy to the forefront of investor concerns about the sustainability of sovereign debt in the euro zone.According to unnamed government sources cited by German business daily Handelsblatt on Monday, the European Central Bank gave serious consideration to activating the euro zone’s bailout fund for Ireland but in the end decided not to.Finance Minister Brian Lenihan has said it was unthinkable that Ireland would default on senior debt but, in the absence of such assurances given on subordinated paper, analysts say those might face a buyback at well below par.The euro fell to an intraday low against the dollar following the Moody’s announcement. Already high yield spreads on Irish debt compared with German equivalents were little changed.The rating agency said that while it still expected the government to support all grades of senior debt, the rating would remain under review for possible downgrade until a decision was made.“While Moody’s considers the likelihood of the government not supporting this (senior unsecured) debt to be very small, this risk has been reflected in the three-notch downgrade,” Ross Abercromby, lead analyst for Anglo Irish at Moody’s, said in a statement.Facing political pressure to shut down Anglo Irish, whose loan book soured dramatically after a disastrous property binge left it heavily exposed to the impact of the financial and market downturn, the government has outlined a compromise plan. It is splitting the lender into an asset recovery bank and another entity to house its deposits which will not lend any money.Though the final cost of the exercise is not expected to be revealed until later this week or early October, the 25bn euros so far earmarked would already push Ireland’s 2010 budget deficit to well over 20 per cent of gross domestic product.In a further hurdle to efforts to clean up public finances just two months before the 2011 budget vote, the main opposition party said it will pull much of the cover it provides for MPs absent from parliamentary votes. Moody’s slashes Anglo Irish ratings Share Show Comments ▼ John Dunne whatsapp Monday 27 September 2010 9:58 am whatsapp Tags: NULLlast_img read more

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2021-09-04

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BAE profits to take hit from defence cuts

first_img EUROPE’S biggest defence contractor BAE Systems yesterday said the impact of the strategic defence review would be “modest” despite order cancellations meaning a reduction in earnings of around two per cent.In a trading update BAE said it would “now work with the UK Ministry of Defence to address the detailed programme implications” of the changes.It said it anticipated “some modest impact on performance of its UK business in 2010 from the changes” and a reduction in its financial planning assumptions meaning growth would be reduced by around 1p earnings per share. However, it did admit it expected to take a £150m hit following the cancellation of three offshore patrol boats order by the government of Trinidad and Tobago although it added it was still in talks over the deal.Britain’s strategic defence review was the first since 1998 and saw the cancellation of several contracts, a reduction in the overall defence budget, as well as a reduction in military personnel, the navy, aircraft and nuclear warheads The government said the BAE made Harrier aircraft would be retired from service but that its fleet of Tornados would be maintained.However, it cancelled a contract for several Nimrod MRA4 spy planes, which BAE said would result in “some near term reduction” of production.On the upside BAE welcomed the government’s continued commitment to the European F-35 joint strike fighter programme.BAE pointed out the UK provides only 20 per cent of its earnings.It also said the US defence market was generating “a substantial number” of business opportunities. However, it is estimated the cancellation of the UK defence contracts will still cost BAE around £48m a year. BAE profits to take hit from defence cuts KCS-content whatsapp whatsapp Thursday 21 October 2010 8:12 pm Share Show Comments ▼ Tags: NULL Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wraplast_img read more

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2021-09-04

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WHAT THE OTHER PAPERS SAY THIS MORNING

first_img FINANCIAL TIMESTOKYO HIT BY CLAIMS OF INSIDER TRADINGJapan’s financial regulator and the Tokyo Stock Exchange are investigating recent trading activity following allegations of widespread insider trading ahead of new share issues by Japanese companies. Regulators are examining possible insider trading involving recent share issues where short selling activity increased substantially in the run-up to the announcement the company would be issuing new shares.PORTUGAL GAINS ON CHINA’S APPETITE FOR DEBTPortugal’s minority government has welcomed a growing appetite by China to invest in the country’s public debt as it struggles to avert a Greece-style bail-out. “China’s interest is the result of a successful strategy of diversifying our investor base,” Carlos Costa Pina, Portugal’s secretary of state for the treasury and finance, told the Financial Times.BULLISH MOOD LIFTS SUGAR NEAR 30-YEAR PEAKSugar prices rose to within a cent of a 30-year high as the bullish atmosphere pervading the industry gathering in London translated into buying.Some top sugar traders expect a new peak within weeks and believe prices could surpass the 30.4 cents a pound touched in February.CHINA BUILDS WORLD’S FASTEST SUPERCOMPUTERChina has ousted the US as the maker of the world’s fastest supercomputer, signalling the country’s increasingly vigorous push to develop advanced technology. The new system, known as Tianhe-1A, was developed by the National University of Defence Technology and unveiled at a supercomputing conference in Beijing on Thursday.THE TIMESPROMETHEAN RETREATS AGAINA supplier of electronic whiteboards to schools confirmed its position at the foot of London’s class of 2010. Floated at 200p as recently as March Promethean World shares retreated 19.25p to just 99.75p yesterday. The latest fall was precipitated by the company’s admission that higher education spending in America had held back sales between July and September. DIAMOND MINER GIVEN A LIFTGem Diamonds said that the price it received for precious stones had risen on the back of demand from China and a policy of selling more stones direct to retailers. Gem said yesterday that its average price per carat rose by 44 per cent to $2.422 in October compared with the third quarter. It also announced the discovery of a 192 carat flawless diamond.The Daily TelegraphGOVERNMENT SCRAPS £470M BUSINESS INVESTMENT SCHEMEThe Government is to scrap a £470m grant scheme that has backed £4.2bn of business investment in deprived areas. As part of its new regional growth strategy, it is also considering “radical” plans to return business rates to local authority control to incentivise councils to help businesses grow. EU HAIRCUT PLANS RATTLE BONDHOLDERSInvestors face large potential losses on Eurozone debt under German plans – risking a boycott of Greek, Irish, and Portuguese bonds. Germany has agreed to give the EU’s €440bn (£383bn) bail-out fund permanent status rather than letting it expire in 2013 as planned, but only as part of a “Crisis Resolution Mechanism” that forces bondholders to share losses.THE WALL STREET JOURNALECB’S WEBER WELCOMES YUAN APPRECIATIONChina’s hoarding of foreign-exchange reserves, mostly denominated in US dollars, makes the global economy more vulnerable to adverse shocks, a key member of the European Central Bank’s governing council said Thursday. Axel Weber added the recent appreciation of the Chinese yuan “is a welcome further step towards appropriate valuation.”CEO SAYS UNICREDIT WILL STAY THE COURSEUnicredit plans to expand its retail and investment-banking operations in Central and Eastern Europe, Chief Executive Federico Ghizzoni said in an interview, yesterday. His comments follow months of scrutiny over the bank’s strategy that resulted in the board ousting UniCredit’s former CEO, Alessandro Profumo. WHAT THE OTHER PAPERS SAY THIS MORNING Thursday 28 October 2010 9:22 pm More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.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.org Share whatsapp Show Comments ▼center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldMoney VersedWoman Shares The 5 Words She Said That Left Her Boyfriend In AweMoney VersedZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Tags: NULL KCS-content whatsapplast_img read more

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2021-09-04

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Emerging markets can give us all Christmas cheer

first_imgSunday 19 December 2010 10:11 pm Tags: NULL Emerging markets can give us all Christmas cheer whatsapp KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemcenter_img whatsapp Share More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.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.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.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com WITH temperatures dropping to -15C and snow making it impossible to get to shops to fill those all important stockings, it’s hard to partake in this year’s Christmas cheer. It’s even harder to be jolly after a year that promised the beginnings of great things, which never came.But hope is the mantra for the New Year, and optimistic predictions for 2011 should give us cheer. Developed economies are expected to grind towards growth as the emerging world propels us into calmer economic waters.Employment is expected to slowly pick up, and loose monetary policy in the West is set to thrust risky assets back on the table.Morgan Stanley calls this new reality a “tale of two worlds”: one where emerging markets see robust development, but also where growth faces a battering in Europe and the US. In this tale of two worlds, emerging market consumers are becoming our beacon of hope. The Asian and Latin American story is pulling western companies to tap into its cash rich consumer base, while the monetary stimulus from the US is finding its home in these economies. Also among the few morsels of hope for 2011 is that the US economy starts powering up. The great deleveraging is still on as personal savings start creeping back to levels not seen since the 1980s. The $858bn tax bill passed by Congress is expected to inject some fiscal clout into the economy. That’s hope we can take into the holiday season.But what of the hurricanes waiting to engulf us? Moody’s estimates that US tax cuts, along with unemployment benefits, will raise the ratio of US government debt to GDP to 73 per cent. That is one of the highest the country has seen in history, and could risk its credit rating. There are also storms of equal magnitude gaining strength in the housing and municipal debt markets.Then there is the financial tsunami already on the fringes of Europe, where bailouts are only buying time. Insolvency is beckoning some countries, and others risk sinking while saving the drowning. All that can hold back the flood waters is massive fiscal adjustment. Let’s also not forget the inflation that is waiting to take the global economy by storm.The biggest risk we run in next year’s tale of two worlds is to allow hope to blind us in the West to the risks of gambling on a return to former glory. This global shift needs to give us hope to dream of a new world, where there is growth for one and all.Maithreyi Seetharaman is a presenter on CNBC Europe each weekday morning on Squawk Box Europe and Capital Connectionhttp://europe.cnbc.com Show Comments ▼last_img read more

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2021-09-04

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Ladbrokes to bid for online gaming firm

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal 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.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Ladbrokes to bid for online gaming firm Monday 20 December 2010 8:04 pm BETTING firm Ladbrokes is in talks with 888 about a potential £240m takeover bid that sent shares in the online gambling group soaring.Britain’s biggest bookmaker and 888 both confirmed weekend media speculation about the possible tie-up, saying they were in “very preliminary discussions”, although they declined to give details.Ladbrokes, led by chief executive Richard Glynn, is thought to be keen on expanding its online operations, which while being successful are not believed to have grown as much as the bookmaker would have liked.In August, 888 scrapped its dividend, preferring to keep cash after a weak economy and competition from soccer’s World Cup sapped appetite for poker and hit its first-half profit.Shares in 888 rose 18 per cent to 58p yesterday, while Ladbrokes stock closed down 1.2 per cent to 126p.Ladbrokes said: “There can be no certainty that these discussions will ultimately lead to an offer being made for 888. Further announcements will be made as appropriate.”The move by Ladbrokes, which has 2,700 betting shops, would represent the latest move towards consolidation of the gaming industry after PartyGaming and bwin announced their merger in August.Ladbrokes and 888 held talks four years ago but aborted them due to Ladbrokes’ concerns over the threat of possible retrospective legal action linked to 888’s activities in the US prior to the industry being outlawed in 2006.Unlike rivals PartyGaming and Sportingbet, 888 has yet to strike a deal with US authorities to give it immunity from prosecution, which one broker said could scupper a bid.GARRY LEVINEVOLUTION SECURITIESGARRY Levin at Evolution Securities and Andrew Burnett at Panmure Gordon are joint brokers for 888 while Deutsche Bank and Greenhill advise Ladbrokes.Garry Levin left his role as managing director in corporate finance at KBC Peel Hunt earlier this year to join rival Evolution Securities as head of its equity corporate finance division, a role he formally took up in April 2010.Before working for KBC Peel Hunt, he was joint chief executive of broker Altium Capital between 2002 and 2007, having started his career as a solicitor.Andrew Burnett, who also acts as a broker for 888, is an executive director at Panmure Gordon & Co. He was previously head of mergers & acquisitions at Empire Online, director of corporate finance at Numis Securities, research director at Merrill Lynch International, assistant director at Charterhouse Tilney and research analyst at County Natwest. He studied at the University of St Andrews. whatsapp whatsapp Tags: NULL KCS-content Show Comments ▼ Sharelast_img read more

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2021-09-04

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FSA sees fresh senior departure

first_imgWednesday 19 January 2011 8:11 pm Share whatsapp whatsapp FSA sees fresh senior departure Show Comments ▼ KCS-content center_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com THE Financial Services Authority’s (FSA) head of supervision for UK life insurers is leaving the regulatory agency, the latest in a string of senior-staff departures.Stuart King, who has been with the regulator in a variety of roles since its creation in 1998, is leaving to become a managing director at regulatory-consulting firm Promontory Financial Group.A series of top staff, including Jon Pain, head of supervision and David Strachan, the head of financial stability, are also planning an exit after the government’s decision to break up the regulator last year. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Ads Tags: NULLlast_img read more

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2021-09-04

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Inflation is no way to fix the deficit: OBR chairman

first_img Share 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof HIGH inflation is not a cure for Britain’s deficit woes, according to Robert Chote, the chairman of the office for Budget Responsibility (OBR).In an interview with the Financial Times, he also gave his opinion that cutting petrol duties to counteract soaring fuel prices would make public finances “less stable rather than more stable”.Many believe higher inflation boosts the public finances by increasing tax revenues. However Chote poured cold water on the idea of fast-rising inflation automatically cutting the deficit.“There are numerous ways inflation can affect the public finances, some positive and some negative, so we cannot say for sure whether higher inflation lowers or raises the projected deficit,” he said.Chote, who recently moved to the new role from his former job as director of the Institute for Fiscal Studies, said the OBR plans to start giving monthly updates on public finances. The body is now preparing the economic forecast for the Budget. whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndocenter_img Inflation is no way to fix the deficit: OBR chairman whatsapp Show Comments ▼ Sunday 23 January 2011 11:08 pm Tags: NULLlast_img read more

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2021-09-04

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