WHAT THE OTHER PAPERS SAY THIS MORNING

first_img Show Comments ▼ KCS-content 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.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times FINANCIAL TIMESBUSINESS CALLS FOR REVIEW OF CURBS ON MIGRANTSNew rules that restrict companies from hiring foreign workers must be “reviewed immediately”, the CBI employers’ body said, putting the business lobby on collision course with the government. The Home Office imposed a temporary limit on skilled workers coming to Britain from outside the European Union because of fears of a flood of applications ahead of the introduction of a permanent cap next year.US CHARGES HACKERS OVER BANK FRAUD SCHEMEUS prosecutors yesterday charged 70 people allegedly involved in a cybercrime scheme that used malicious software to steal more than $3m from dozens of bank accounts. On Wednesday, police in London arrested 19 people, 11 of whom were charged over an alleged Zeus attack that stole £6m from UK bank accounts.LOTUS AIMS TO REVIVE BOND CAR GLORY DAYSLotus wants to return to its “Bond car” glory days and take on Porsche with a plan to relaunch its brand and triple its production of luxury sports cars within five years. The legendary but perennially lossmaking British carmaker on Thursday unveiled five planned models and said its owner Proton had secured £500m to £800m to back a 10-year turnround.CABLE JOINS FIGHT AGAINST AIRCRAFT CARRIER CUTSVince Cable has intervened to stave off cuts to the aircraft carrier programme, echoing the fears of Liam Fox, the defence secretary, over the harm to Britain’s shipbuilding industry. The business secretary pressed the case for protecting the engineering skills base at a key meeting of the National Security Council. THE TIMESFISHER-PRICE TOYS RECALLED IN SAFETY ALERTMore than 70,000 Fisher-Price baby toys and high chairs sold in Britain have been recalled by the parent company Mattel as part of a worldwide effort in response to reports of children being choked, cut or bruised.High chairs, toys with inflatable balls and the Wheelies Stand ’n’ Play Rampway have been recalled in Britain.TIMES CAMPAIGN FORCES NPOWER TO PAY £70M FOR OVERBILLINGNpower, Britain’s fourth-largest domestic energy company, has agreed to pay £70m in compensation to 1.8m customers who were overcharged for gas. The victory comes at the end of a two-year campaign, championed by The Times Money section, to secure proper redress for customers.The Daily TelegraphFLEXIBLE WORKING RIGHTS DELAYED AS GOVERNMENT BOWS TO PRESSURE The Government has bowed to industry pressure on red tape by putting off a key coalition pledge on extending the right to request flexible working to all employees, according to campaigners. Employment relations minister Ed Davey yesterday announced plans to extend the right to request only to parents of children aged under 18 from next April.TAXMAN TOLD VAT IS NOT DUE ON MUSIC REVIEW CDSTax experts say European Court of Justice decision on a £3m VAT case brought by HM Revenue & Customs against EMI will mean that companies can claim for overpaid VAT and that UK laws on product samples and small value business gifts will be overhauled. Sample products should be free from VAT, the court has ruled.WALL STREET JOURNALHUNGARY’S FIDESZ SET FOR BIG WINRiding a surge in popularity after refusing to back down to the International Monetary Fund, Hungary’s governing Fidesz party is set to win a landslide victory in local elections Sunday. A second decisive win in six months would give the government the political strength it needs to make sweeping changes to the welfare and pension systems.YOUTUBE STRIKES DEAL WITH FRENCH MUSIC INDUSTRYSongwriters and composers will get paid when their videos are seen on YouTube in France, under a deal announced Thursday by the online video-sharing site and France’s leading music-industry group. The industry group SACEM called the deal difficult to reach but innovative, and a victory in its efforts to protect copyright and make money online. WHAT THE OTHER PAPERS SAY THIS MORNING center_img Share Thursday 30 September 2010 11:10 pm Tags: NULL More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com whatsapplast_img read more

Growth in China on the cards at Boots

first_img Show Comments ▼ HIGH STREET health and beauty retailer Boots hopes to make headway in China when its executive chairman travels to the country as part of David Cameron’s first official visit as Prime Minister. Stefano Pessina has reportedly organised talks with potential partners in Beijing and Shanghai while he is in the country, as part of a move to accelerate growth in China. The meetings will deal mainly with expanding the group’s wholesale distribution but with scope for acquisitions.Alliance Boots, the retailer’s parent company owned by private equity house KKR since 2007, already runs a joint venture in China with state-owned Guangzhou Pharmaceutical. The venture began trading in January 2008, and remains the largest pharmaceutical joint venture between a Chinese and overseas company with revenue in the last quarter of 1.1bn yuan (£102m).In the two and a half years since the venture was set up, it has taken an 18 per cent market share in Guangdong province, with 11 warehouses supplying more than 12,000 customers.Pessina will also be looking to take advantage of the Chinese authorities’ recent commitment to make medicine more affordable to the public within the next ten years.He is one of a handful of UK business leaders accompanying the Prime Minister on the trip, alongside RBS chairman Sir Philip Hampton and Standard Chartered chief executive Peter Sands.Business delegates will be involved in talks tomorrow with the Chinese premier Wen Jiabao intended to improve trade relations between the two countries, before taking part in business-to-business events on Wednesday, a Downing Street spokesperson told City A.M. yesterday. “The Chinese market is by all means highly strategic for Alliance Boots due to its size, growth and potential,” said Pessina yesterday in an e-mailed statement. “We already have a presence in China and are deeply committed to establishing future partnerships to help develop innovative healthcare solutions to meet the needs of this fast-paced market.”A company spokesperson declined to comment on reports about any specific meetings scheduled for Pessina while he is in China. Alliance Boots has recently expanded in several markets. It took control of Turkish drug wholesaler Hedef Alliance in July.TESCO | STRONG GROWTH FOR RETAIL GIANTThe world’s third largest grocer first entered the Chinese market in 2004, when it formed a 50:50 partnership with local retailer Ting Hsin International Group, owner of 25 Hymall superstores.Tesco increased its stake in the business to 90 per cent in 2006, opening it’s first own-brand store in Beijing in 2007.The grocer now operates 99 stores across nine provinces, employing 23,000 people. The outlets include 87 hypermarkets, four giant ‘Lifespace’ malls and 12 ‘Express’ convenience stores.Interim results out last month show Tesco’s Asia operation generated £5.3 bn sales, up ­19 per cent on last year’s figures for the same period.Tesco made a small overall loss in the first half of this year, though expects to be profitable in the seasonally important second half. The company is pressing ahead with investment plans, and says the retail environment is improving thanks to rising consumer confidence.Richard PartingtonBURBERRY | “EXCITING” MARKET PROSPECTS???High-end fashion retailer Burberry first established itself in China in 1992.The retailer bought out its Chinese franchises in a £70m deal in July to take control of its 50 mainland stores, operating across 30 cities.The company expects the deal to add £20m to operating profits in the coming financial year.Interim results showed sales in the stores grew by 25 per cent on last year for the same period.Burberry saw strong 18 per cent sales growth for the half-year to 30 September, and says it plans to open 10 new stores in China.The London-based clothing retailer is implementing a digital marketing initiative in the region to further reinforce the brand’s image.Chief executive Angela Ahrendts describes the Chinese market as “exciting”, and says the company is confident that it will be able to deliver long-term growth in the region over the coming year. Richard PartingtonCARREFOUR | EUROPE’S BIGGEST RETAILER IN CHINAThe world’s second largest retailer first entered the Chinese market in 1995, after forming joint ventures. The firm entered into direct deals with the local governments of a number of provinces in order to gain approval for its stores.The French retailer began by selling products sourced from China, with stores operating to fit in with the local requirements of differing regions.The grocer today operates 163 hypermarkets across China, making it Europe’s biggest in the country.Chief executive Lars Olofsson thanked emerging markets, including China and Latin America, for strong third-quarter performances.Sales in China grew 16 per cent at constant exchange rates, generating €1.22bn (£1.06bn). Sales increased more than seven per cent like-for-like for the third quarter. The retailer most recently opened two stores last month in Cheng Du, Sichuan province, and Haikou, on the island of Hainan. Both outlets are over 5,800 metres squared. Richard PartingtonMARKS &?SPENCER | A CAUTIONARY TALEM&S has been a fixture on the British high street for 126 years. However, more than a century of experience selling custard creams and underwear was lost in translation when the firm opened a flagship branch on Shanghai’s busiest shopping strip in 2007. The store on West Nanjing Road sat uneasily among the more traditional Chinese fare, and was seen as too expensive by most locals.Chinese customs held crates of British stock at the border, causing the shelves to lie bare for days on end. The store’s inauspicious start was compounded four days after the opening when a 24-year-old shopper fell four storeys to his death after leaning over an escalator. In 2009, Marks & Spencer parted company with its head of Chinese operations Richard Sweet, who worked at the company for 20 years and successfully oversaw expansion in India and Russia. The retailer currently has just two shops in China, both in Shanghai, and has all but halted plans to open 50 new branches until the existing stores find their feet.Marion Dakers Tags: NULL Sunday 7 November 2010 8:51 pm whatsapp KCS-content Share whatsapp Growth in China on the cards at Boots Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDirect HealthyKate Silverton’s PartnerDirect HealthyUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo last_img read more

Pfizer chief executive Kindler in shock resignation after share price tumbles

first_img Share Pfizer chief executive Kindler in shock resignation after share price tumbles KCS-content whatsapp PFIZER chief Jeffrey Kindler has resigned, it was unexpectedly announced late Sunday night.Kindler, 55, cited personal reasons for stepping down, yet close sources believe he was pushed after major hits to the company’s prospects.As patents on Pfizer’s blockbuster drugs expire, several new drugs have been scrapped from the development process, observers say.Next year the cholesterol fighting medication Lipitor loses its US patent protection. The drug delivered $11.4bn (£7.3bn) in sales last year.Under Kindler’s leadership the drugs giant acquired Wyeth in order to add “valuable in-line and pipeline products,” the company said.Pfizer’s stock price is down about 30 per cent since 2006.And Kindler was a leading figure in pharma’s deal with Democrats over controversial healthcare reforms.News of the resignation followed Pfizer’s formation of a new compliance committee to monitor corporate governance. Last year the company was fined $2.3bn (£1.47bn) for breaking marketing rules on the use of several drugs.A shareholder lawsuit then accused the company’s board, including Kindler, of failing to stop the illegal marketing practices, although the company denied the claims.Kindler will be replaced immediately by Ian Read, former head of global biopharmaceutical operations. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Monday 6 December 2010 8:17 pm whatsapp Tags: NULL Show Comments ▼last_img read more

National Express drives forward after strong quarter

first_img Tags: NULL National Express said it expects full-year profit to exceed market expectations, helped by a strong across-the-board performance in the fourth quarter.The bus, coach and train operator said on Friday that all parts of its business had performed well since October, with especially strong revenue growth at its British rail and coach businesses and in North America.“The group has continued its strong progress during the fourth quarter, with ongoing growth in year-on-year profitability,” the company said in a statement.“As a result, the board now expects normalised profit before tax for 2010 to be a little above current market expectations and markedly stronger than was expected back in January 2010.”National Express said margin recovery at its UK bus unit was ahead of its plans and that its Spanish bus and coach businesses were growing despite tough economic conditions. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof John Dunne National Express drives forward after strong quarter Show Comments ▼ whatsappcenter_img whatsapp Friday 17 December 2010 3:02 am Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Share last_img read more

UK service sector slows, but productivity up

first_imgThursday 23 December 2010 8:28 am Show Comments ▼ Share Tags: NULL whatsapp center_img UK service sector slows, but productivity up whatsapp alison.lock UK SERVICE sector activity declined by 0.4 per cent in October, giving back more than half of the previous month’s 0.7 per cent rise, official data has showed.The Office for National Statistics said half of the drop was accounted for by a drop in the “government and other services” category, reflecting the start of what is expected to be a prolonged austerity campaign.It was the biggest monthly decline in services activity since April – but experts cautioned that monthly numbers are volatile, and when comparing the three months to October with the previous three months, services output rose 0.6 per cent.“While the drop in services output in October is disappointing, it is important not to read too much into it. Overall, the evidence suggests that the services sector is currently still seeing moderate expansion,” said Howard Archer, chief economist at HIS Global Insight.This quarterly rise was just ahead of the 0.5 per cent growth registered in September.The data offer the first official glimpse of how the UK’s biggest economic sector fared in the fourth quarter of the year, and Archer admitted they were evidence that services were already being affected by government cutbacks.The ONS also reported that productivity across all sectors of the economy rose a modest 0.1 per cent in the third quarter.The gain lifted the annual rate of growth to 1.7 per cent, its highest since the third quarter of 2007.Archer said: “The reduced improvement in productivity in the third quarter reflects the fact that companies took on more workers. “However, the fact that productivity rose more quarter-on-quarter in terms of output per hour worked in the third quarter than in terms of output per worker reflects the fact that many of the jobs added were part-time.“This suggests that companies remained reluctant to add full-time employees given a still uncertain longer-term economic outlook.”Unit wage costs fell by 0.5 per cent compared with the same quarter a year ago, the biggest fall since 1994, the statistics office said. last_img read more

Daniels briefs colleagues as row mounts over his bonus

first_img Show Comments ▼ Daniels briefs colleagues as row mounts over his bonus KCS-content whatsapp whatsapp Tags: NULLcenter_img 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.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.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.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmMoneyPailShe Was A ’90s Star, Now She Works In {State}MoneyPail Wednesday 12 January 2011 9:16 pm LLOYDS Banking Group chief executive Eric Daniels yesterday called senior colleagues together to warn them a storm was about to erupt about the potential size of his bonus.Daniels told colleagues there was going to be “noise” about his possible bonus payments and he said that somebody “out there” was trying to create mischief.Reports yesterday suggested that Daniels, who is shortly leaving the bank, will be awarded a bonus of around £2m which will be complemented by a further £2m in shares that will have accrued to him as part of a long-term incentive scheme.However, Lloyds sources suggested the reports were speculative and that Daniels’ bonus payments were yet to be determined. “There will be a debate on this by the bank’s remuneration committee at the end of the month,” they said.Daniels waived his bonus last year but he is not expected to want to do the same this time around, causing potential embarrassment for the government. Deputy Prime Minister Nick Clegg promised this week to do something about bonuses at the banks that were partly owned by the taxpayer. last_img read more

WEST END FESTIVE HIGH DESPITE SNOW

first_imgSunday 16 January 2011 10:27 pm WEST END FESTIVE HIGH DESPITE SNOW Show Comments ▼ Tags: NULL More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.com Christmas shoppers defied the December snow to boost December sales in London’s West End by 3.8 per cent year-on-year. New West End Company, which represents 600 retailers on Bond Street, Oxford Street and Regent Street, said there was a huge sales increase in the final days before Christmas and in the end of year sales. 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.comSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutecenter_img whatsapp whatsapp KCS-content Sharelast_img read more

Land Secs says demand from blue chips will hold up in 2011

first_img Land Secs says demand from blue chips will hold up in 2011 whatsapp KCS-content BRITAIN’S largest real estate investment trust Land Securities yesterday said it expected demand from blue-chip tenants to hold up in 2011. Chief executive Francis Salway said the firm’s plans were “bearing fruit” as he updated the market on trading. “We expect a wider range of buying opportunities in 2011, although current flows of capital into the sector mean that bidding may remain competitive,”he added. “The first quarter of 2011 is likely to see mixed news flow around the consumer and the economy, but we expect occupational demand from large corporates to remain steady.”Salway pointed to City shopping mall One New Change as an indicator of the firm’s success. He said that development was commanding rents in excess of £50 per square foot, a £10 increase on what the firm could have expected in 2009. One New Change has let 51 per cent of its units, with a further 20 per cent in the hands of solicitors, suggesting a tenancy agreement is near. That means the building is practically 80 per cent let. Meanwhile, Land Securities said it planned to start work on a retail development in Scotland due to growing demand.“It is our expectation that we will soon be in a position to start a further retail development at the Atlas Site in Glasgow,” Salway said.In November, Land Securities posted a 6.7 per cent rise in first-half net asset value. Tags: NULL Wednesday 19 January 2011 7:07 pmcenter_img whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.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.org Sharelast_img read more

Balls is back

first_img Balls is back ED Balls was last night installed as Labour shadow chancellor in a dramatic move following Alan Johnson’s resignation from the post after less than four months. Johnson said he was leaving “for personal reasons” as Balls, the architect of Gordon Brown’s economic policy and a former treasury minister, returned to a role shaping the party’s economic stance.Ed Miliband’s decision to shift Balls back into an economic brief signals a hardening of Labour’s stance on the deficit, with Balls insisting that there is “an alternative to the coalition’s austerity and cuts”.The move is likely to lead to a more confrontational opposition to George Osborne’s cuts. Balls said in August: “It is time for Labour to take on and win the argument [on the deficit].”While in office under Brown, he pushed for higher public spending as a solution to economic uncertainty and has advocated making the 50p top-rate tax permanent.He is also known for a controversial and aggressive style that marked Brown’s years as Prime Minister and has been accused of regularly briefing against his political enemies.His appointment is a reversal from a time when he was Ed Miliband’s senior at the treasury.Dan Corry, former head of Gordon Brown’s policy unit and now at FTI Consulting, said: “Ed [Balls] will have to respect the fact that his old side-kick is the boss, but he has shown that he can buckle down for the cause.”Michael Fallon, deputy chairman of the Conservative party said: “The man who is responsible for Britain’s economic mess has returned. The Labour party has learnt nothing and is now led entirely by Gordon Brown’s old team.”Johnson’s resignation sparked a full-scale reshuffle on the opposition front benches. Balls’ wife, Yvette Cooper moved to shadow home secretary, while former Treasury secretary Liam Byrne, who famously wrote “there’s no money left” at the end of Labour’s term in office, takes over a shadow brief in work and pensions.In a conciliatory move, Ed Miliband moved Douglas Alexander, who supported David Miliband in Labour’s leadership race, to replace Cooper as shadow foreign secretary.EVERTHING YOU NEED TO KNOW ABOUT ED BALLSEducation: Balls was educated at Oxford and Harvard universities.Economic theory: Closely allied to Brown, he was the author of a speech in 1994 in which Brown referred to “post neoclassical edogenous growth theory”. The convoluted phrase was mocked by senior Conservative Michael Heseltine who told his party conference: “It’s not Brown’s, it’s Balls!”Regulatory policy: He was behind the creation of a tripartite regulatory system that split roles between the Bank of England, the FSA and the Treasury. He also signed off on Brown’s line that his policies would lead to “no more boom and bust”.Euro opposition: Balls was instrumental in devising the “five economic tests” that kept Britain out of the euro despite Tony Blair’s push to join the single currency.Bullying accusation: A Labour MP branded him a “bully” in 2009 over the appointment of a Children’s Commissioner, a claim Balls denies.Bloomberg lecture: In August he gave a speech opposing urgent cuts to the public deficit.Richard Partington Share KCS-content Thursday 20 January 2011 9:13 pm Tags: NULL More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org whatsapp Show Comments ▼ whatsapplast_img read more

Levene says Solvency II to cost Lloyd’s £300m

first_img Tags: NULL whatsapp KCS-content whatsapp Share THE Lloyd’s of London insurance market expects to pay £300m to implement stringent new capital requirement rules for insurers, its chairman Lord Levene (pictured) said yesterday.Levene criticised the additional burden placed on insurers by the Solvency II rules, imposed by European lawmakers to require insurers to hold more capital to cover the risks they underwrite.Lloyd’s said earlier this month it was on course to spend £250m preparing for the Solvency II changes. “It’s a huge task,” said Levene, on the sidelines of meetings at Davos. “It’s costing Lloyds markets just to get ready for Solvency II £300m. It’s a lot of money and it’s a diversion of effort.”About 3,600 European insurers will have to comply with Solvency II by I January 2013. But firms are concerned that the requirements will tie up needed capital, divert earnings from investors to add to capital reserves, and make insurance more expensive.“The concept behind it is good but we need to get details right and it does take peoples’ eye off the ball,” Levene added. Show Comments ▼center_img Wednesday 26 January 2011 8:47 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily 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 ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Levene says Solvency II to cost Lloyd’s £300m last_img read more