Greece stalls on bailout loan

first_img whatsapp Show Comments ▼ Monday 11 October 2010 8:26 pm KCS-content Greece stalls on bailout loan Sharecenter_img whatsapp Greece is discussing prolonging the repayment of a €110bn (£96bn) EU/IMF bailout deal, finance minister George Papaconstantinou told Greek Skai television yesterday.“It is an ongoing discussion, there is no decision but this is completely different from the issue of restructuring of the Greek debt,” Papaconstantinou said.The International Monetary Fund said on Sunday that bailout loans to Greece could be stretched out or replaced if refinancing worries lingered in markets, but it currently has no concrete plans to do so. “This discussion has started because everybody sees that for two specific years – 2014 and 2015 – the state goes suddenly from paying off €40bn to €50bn a year to €70bn,” Papaconstantinou told Skai’s News Files show.Papaconstantinou said Greece had not officially asked for such an extension. “If at one point the decision is taken it must come as a reward for the good work we’re doing and not because we could not achieve our targets, because then it would send the wrong message to markets,” he said.The IMF spokeswoman said there were no concrete plans at this time for such moves because of recent improvements in investor sentiment toward Greece. Papaconstantinou also said this year’s budget deficit would reach about eight per cent of GDP from about 14 per cent last year. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal 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 AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times More From Our Partners Sidney Crosby, Alex Ovechkin are graying and frayingnypost.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.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Tags: NULLlast_img read more

US jobless total falls to three-month low

first_img THE US jobless total fell to a three-month low official figures revealed yesterday.Initial unemployment claims fell by 21,000 to 434,000 in the week ended 23 October the US Labour Department said in its weekly report yesterday. The previous week’s figures were revised up from 452,000 to 455,000. The claim figure is the lowest since the week ending 10 July.The four-week moving average, which aims to smooth volatility in the data, fell by 5,500 to 453,250 from the previous week’s revised average of 458,750.Yesterday’s weekly claim data is the last report before voters go to the polls for the midterm elections next Tuesday. The stubbornly high unemployment rate is seen as a key issue. As polling day approaches, Democrats have fought to defend their economic policies in hopes of maintaining their majority in Congress.Meanwhile, the number of continuing claims – those drawn by workers for more than one week in the week ended 16 October – declined by 122,000 to 4,356,000 from the preceding week’s revised level of 4,478,000. Continuing claims are reported with a one-week lag.The Federal Reserve is also believed to be considering a second round of quantitative easing. The Fed is expected to announce a new US Treasury bond purchase programme at the end of its two-day meeting on 3 November. Share KCS-content US jobless total falls to three-month low Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA 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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Thursday 28 October 2010 8:20 pm whatsapp whatsapp Tags: NULLlast_img read more

CITY PAYS ITS DEEPEST RESPECTS TO BRITAIN’S FALLEN WAR HEROES

first_imgThursday 11 November 2010 8:14 pm CITY PAYS ITS DEEPEST RESPECTS TO BRITAIN’S FALLEN WAR HEROES KCS-content 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.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.com Show Comments ▼ Tags: NULL center_img SILENCE blanketed the City of London yesterday at 11am, to mark the anniversary of Armistice Day, the end of the First World War.The largest remembrance ceremony took place at Lloyd’s of London, where 5,000 members of the insurance market gathered on the trading floor to watch on as their chairman Lord Levene and Lord Mayor Nick Anstee laid wreaths to commemorate those who served in the Great War and later conflicts.“It’s a fitting time to reflect on the bravery of others given our soldiers currently engaged in conflict,” Levene said. “It’s important to remember not only all the men and women who are serving their country today, but also those who gave their lives and contributed so valiantly in previous wars.”Lloyd’s has led the way in fundraising for the Poppy Appeal this year, raising a record £240,000, though other City workers have been just as busy doing their bit for the cause.Last night saw a number of parties held across the financial district to mark the occasion, including solicitor Hannah Sisk, who’s soon to join law firm Rollingsons. Sisk organised a remembrance evening at Guild City church St Dunstans in-the-West, where speakers included Colonel Stuart Tootal – formerly of the 3 Para regiment and now working at Barclays – and music came from the likes of Chantage, a chamber choir from the City. Local businesses also got behind the event, including Fleet Street bar El Vino, which donated a percentage of its profits to the charities.CASH IN THE ATTICFinancial memorabilia buffs had better book their ticket to New York, pronto, since thousands of goodies from US Ponzi-schemer Bernard Madoff’s various properties are due to go on the block tomorrow at the Sheraton hotel.As with the first auction a year ago, which raised $1m for Madoff’s victims as a drop in the ocean towards the $65bn he stole, the items up for sale this time range from the glitzy to the mundane. They include a 10.5 carat diamond engagement ring and a Steinway & Sons grand piano, to the floral canopy bed in one of Madoff and his wife Ruth’s master bedrooms, to clothes and humdrum everyday paraphernalia such as cooking implements, towels, boxer shorts (no word on whether they’ve been washed first), and a rather fetching pair of black velvet monogrammed carpet slippers. Form an orderly queue, now…TALK’S NOT CHEAPTo the analyst presentation for BT’s interim results yesterday, where management was in ebullient form after revealing a 43 per cent hike in first half profit.Taking the opportunity to plough the deep pockets of the City analysts present, chief executive Ian Livingston informed them that they were each allocated just one question, and any further questions would be “charged” at £10 a pop, with proceeds donated to Children in Need.Stepping up briskly to the challenge, the gathered analysts came up trumps, raising £470 – with the largest contribution coming from Morgan Stanley’s Nick Delfas, who kicked off proceedings with a four-question grilling.Livingston himself then matched their contribution and rounded it up to £1,000. Sterling work on all sides.DIGITAL AGEPing! In zooms a letter from the government’s digital champion Martha Lane Fox, calling on the City’s “computer connoisseurs aged 55+” to enter the search for an Age UK Internet Champion of the Year. Apparently, the number of over-65-year-olds using the Web has gone up from 18 per cent four years ago to 40 per cent now, as golden oldies get used to the vast opportunities the internet can bring. But Lane Fox wants to improve it even more – and the aim is for next year’s Champion to help others who lack the confidence or skills to get online. Visit the Age UK website to find out more.UNSUNG HERORegular readers may recall the name of John Major – no, not the former Prime Minister, but the security concierge at PwC who last year won City A.M.’s competition to discover the “Unsung Hero” of the City.Major, who’s guided over a million staff and guests through the firm’s doors over his 21-year stint at the firm, this week celebrated his retirement from PwC at Smollensky’s on the Strand, where he was presented with a leaving book of farewell messages from staff and a bottle of De Bortoli Old Boys 21-year-old port, for every year he spent with the firm.FOND FAREWELLFinally, it is with sadness that I say goodbye to you all today on my last day at City A.M.Over the course of the past few years I have had the pleasure of meeting some of the wittiest, brightest and kindest people in the City, and I would like to take this opportunity to thank all of my readers for your support, feedback and ideas.I’m sure you will all be there to assist my successor in continuing the column’s success. whatsapp Share whatsapp 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.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 CenterMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionlast_img read more

Xcite seals North Sea discovery

first_imgTuesday 4 January 2011 7:21 pm Show Comments ▼ 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 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 ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof KCS-content OIL explorer Xcite said yesterday it has suspended its well in the Bentley field of the North Sea while it examines the quality of the oil found in December. The company said the oil find is a “transformational well for the company” and that it remains ready to be used as a production well in the future. The Ocean Nomad drilling rig used to explore the hydrocarbon deposit is now off hire from the Bentley field around 160 kilometres off the coast of Shetland. Xcite awarded 12 of its executives involved in the development a total of 1.6m share options yesterday, , worth £6.2m in total, as a bonus for the success of the Bentley 9/3b-6 well.The company’s London-listed shares have rocketed seven-fold in the last twelve months, with the gain accelerating in December when the firm said it had successfully struck oil at Bentley after months of delays. The firm has exploration licences for several blocks in the North Sea following the Department of Energy and Climate Change’s latest round of offshore licensing in October. The AIM-listed stock lost 5.3 per cent yesterday to close at 363p. Its shares on the Toronto Stock Exchange also fell 5.4 per cent to C$5.60. whatsappcenter_img Xcite seals North Sea discovery Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBewadaHusband Divorced His Wife After Looking Closer At This PhotoBewadaadvisor15 Plants that Repel Mosquitoes NaturallyadvisorAmoMediaSpoiled Guy Mocks Waiter, Dad Teaches Him Cruel LessonAmoMediaDinnerZUTop 5 Foods That Help Lose Weight FastDinnerZUBuzzDestination7 Types of Men Who Are Not Made For RelationshipsBuzzDestination5log – Livinguard®This mask has been sold out in Germany 5 days after the government has tighten up5log – Livinguard®Foundation ExpertFoundation Repair Cost In Scottsdale May Surprise YouFoundation ExpertfddStimulus News UpdatesfddMold Removal | Search AdsBathroom Mold Removal Tips That Might Surprise Most AmericansMold Removal | Search Ads whatsapp Sharelast_img read more

US private sector jobs surge

first_img whatsapp US private sector jobs surge KCS-content whatsapp The number of US private-sector jobs surged in December at a rate three times stronger than forecast, the most bullish signal in months that a recovery in the world’s biggest economy is shifting up a gear. Private employers added 297,000 jobs last month, payrolls processing company ADP Employer Services said yesterdfay. It was the largest gain on ADP records dating to 2000, and comes ahead of tomorrow’s more comprehensive non-farm payroll data. Tags: NULL Share Wednesday 5 January 2011 9:28 pm More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKansas coach fired for using N-word toward Black playerthegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Show Comments ▼last_img read more

Morgan Stanley shifts execs

first_img Share Morgan Stanley shifts execs Thursday 6 January 2011 9:07 pm KCS-content whatsapp Investment bank Morgan Stanley has moved Colm Kelleher, co-president of institutional securities, to London in a promotion giving him responsibility for Europe, the Middle East and Asia excluding Japan. He joins Walid Chammah, now chairman of Morgan Stanley International. The move supports the bank’s international growth push and strengthens its emerging markets presence. center_img 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 ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp 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 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 Farm Show Comments ▼ Tags: NULLlast_img read more

Total’s 2010 profits jump on higher oil prices

first_imgFriday 11 February 2011 8:50 am Show Comments ▼ More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.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.org whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe 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 ItZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBetterBe20 Stunning Female AthletesBetterBeWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoam Total’s 2010 profits jump on higher oil prices French oil major Total reported bumper earnings on Friday thanks to higher oil prices, and unveiled plans to spend $20bn (£12.43bn) this year mainly on new oil and gas projects to boost flagging production.Europe’s third-largest oil group, which spent billions of dollars in 2010 on Canadian oil sands and Australian offshore gas, said it was targeting more acquisitions to renew its production portfolio, and aimed to sell non-core assets.“We will continue to invest massively,” Total Chief Executive Christophe de Margerie told a press conference.In the final quarter of 2010, Total saw its oil and gas output rise by only 0.4 per cent to 2.38 million barrels of oil equivalent per day as it had no major project start-up in 2010.Total shares were down 0.82 per cent at €43.12, despite results that analysts said were slightly ahead of expectations.With oil prices now over $100 a barrel, de Margerie said he expected them to remain firm but that it would be “unhealthy” to stay above this mark in the short-term. He has said in the past that prices should rise gradually to avoid hurting the economy.Total’s head of strategy Jean-Jacques Mosconi said the group saw oil prices between $80 and $100 per barrel in 2011.France’s biggest company by market capitalisation said it targeted a production rise of an average two per cent per year in the 2010-2015 period and that it planned to start up its huge Angolan offshore Pazflor project in the fourth quarter.It also said it targeted “numerous” projects in Russia, Canada, Australia and China, but gave no further details.Stripping out one-off items, Total’s 2010 net profit rose to €10.29bn from €7.78bn in 2009.Sales rose 21 per cent to a staggering €159bn, equivalent to the gross domestic product of Algeria, as oil prices more than doubled on the back of the economic rebound. center_img Share whatsapp alison.lock Tags: NULLlast_img read more

Moody’s threatens to cut Japan rating if reform stalls

first_img whatsapp Moody’s threatens to cut Japan rating if reform stalls whatsapp Tuesday 22 February 2011 3:21 am Share Tags: NULLcenter_img John Dunne Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoTotal 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.comUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.comKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPuffer fish snaps a selfie with lucky divernypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Show Comments ▼ Moody’s Investors Service warned that it may cut Japan’s sovereign rating if government policies fall short of comprehensive tax reform needed to bring ballooning public debt under control.The ratings agency said Japan, where the fifth prime minister since 2006 is facing mounting pressure to quit, needed stability at the top if it was to enact effective fiscal reform.Japan’s struggle to put a lid on the ever-rising public debt, which has ballooned to double the size of its $5 trillion (£3.09 trillion) economy, has triggered a Standard & Poor’s rating cut and a slew of warnings from other rating agencies.“Since (former PM Junichiro) Koizumi, there have been three Liberal Democratic Party prime ministers and one Democratic Party prime minister who have served for a year or less,” Moody’s senior vice president and regional credit officer Tom Byrne told a news conference in Tokyo.“Effective fiscal reform most likely requires stability at the top levels of government.”Prime Minister Naoto Kan, who took office last June, has staked his career on fiscal reforms, including a rise in the 5 percent sales tax to fund bulging social security costs, and urged the opposition to join talks on the topic.But the opposition has refused to come to the table and is instead piling pressure on the unpopular Kan to call a snap election by threatening to block budget-related bills, including one allowing the government to issue new bonds.The dollar blipped up against the yen after Moody’s changed the outlook on Japan’s Aa2 rating to negative from stable, although government bond futures showed little reaction and maintained earlier gains. last_img read more

Japanese snap up Kwik-Fit

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap BRITAIN’S largest tyre retailer, Kwik-Fit, has been sold to a Japanese conglomerate, ITOCHU Corporation, City A.M. can reveal.The deal, details of which will be announced publicly this morning following its signing yesterday, sees European private equity firm PAI Partners cash out of its six-year ownership of the auto repair chain for £637m, which includes net debts of £457m.The sale follows a bidding process that kicked off in December, with law firm Baker & McKenzie and investment bank Nomura advising ITOCHU and investment banks Morgan Stanley and Credit Suisse running the auction. Though signed, the deal is still subject to regulatory approval by European competition authorities.PAI bought Kwik-Fit, which included a collection of businesses, for £800m in 2005. But it has sold off many divisions separately since then, making a direct price comparison difficult.ITOCHU’s purchase of the remaining piece of Kwik-Fit marks a rare case of Japanese capital snapping up a UK-based retailer, although it fits naturally within the group’s portfolio, which also includes Stapleton Tyre Services.Kwik-Fit currently accounts for 20 per cent of the UK tyre market and employs 4,602 people nationally across 673 branches. It has a further 545 branches across Europe, making it the most widespread tyre services company on the continent. whatsapp KCS-content Japanese snap up Kwik-Fit whatsapp Tags: NULL Share Tuesday 1 March 2011 9:17 pm Show Comments ▼ last_img read more

Betfair eyes £30m saving via Gibraltar licence shift

first_img Betfair eyes £30m saving via Gibraltar licence shift by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Share whatsapp More From Our Partners Brave 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.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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com whatsapp center_img KCS-content BETFAIR yesterday confirmed it will move its gambling licence to Gibraltar in order to save on its tax bill.The betting firm estimates it will save £10m in the next year and £20m the year after, taking advantage of Gibraltar’s one per cent tax on gross profit from betting.Betfair says part of the reason for the move is the double taxation it is sometimes subject to in the UK under its current set up. It follows Ladbrokes and William Hill in setting up their gambling licenses offshore.Chief executive David Yu told City A.M. the “lions share” of savings will be through tax but the firm will also benefit from synergies.The firm also announced its revenues were up 6.2 per cent on the same period a year earlier, despite poor weather and a decrease in average poker spending. Show Comments ▼ Tags: NULL Tuesday 8 March 2011 7:31 pmlast_img read more