Nadir offers more cash to the Tories

first_img whatsapp ASIL Nadir, the controversial tycoon who yesterday returned to the UK after 17 years living in exile, embarrassed the Conservatives by saying he would like to give them money.The notorious fugitive, who donated £500,000 to the Tories in the 1990s, said he would like to hand over even more cash to David Cameron’s party. He said: “It’s only fair if you approve of the policies of a government, if you want to extend their power, why not do it?”The Tories are privately furious about the suggestion, with one source close to the party telling City A.M.: “He hasn’t got a cat in hell’s chance. There is no way we could ever take money from someone with a track record like Nadir’s. There is no question. It will never, ever happen.” A party spokesman was more diplomatic, saying: “All donors meet strict requirements.”Nadir was a playboy of the business world, with his firm reaping huge rewards before it crashed amid allegations of large scale fraud. He will face £34m fraud charges relating to his stewardship of failed conglomerate Polly Peck. More From Our Partners Police 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.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo KCS-content center_img Thursday 26 August 2010 9:02 pm Tags: NULL Nadir offers more cash to the Tories whatsapp Sharelast_img read more

BP sells assets in Malaysia to pay for US spill

first_img KCS-content Share whatsapp whatsapp BP sells assets in Malaysia to pay for US spill Share Tags: NULL,Wednesday 1 September 2010 8:20 pm Tags: NULL whatsapp Wednesday 1 September 2010 8:20 pm BP HAS sold its Malaysian ethylene and polyethylene assets to Petroliam Nasional Berhad (Petronas) for $363m (£234.8m) to help foot the bill for the Gulf of Mexico oil spill, the worst environmental disaster in US history. As part of the deal, BP will sell off its 15 per cent interest in Ethylene Malaysia and its 60 per cent stake in Polyethylene Malaysia to Petronas, the Malaysian state owned oil company. The sale is part of BP’s plan to shed up to $30bn in assets over the next 18 months to fund the clean up and the legal bills of the Gulf of Mexico oil spill.“Whilst these are attractive businesses with strong domestic and regional markets, BP recognises that Petronas is their natural owner, with various integration opportunities uniquely available to them,” said Sue Rataj, president of BP’s global petrochemicals business. Rataj said that the sale would also help BP to focus on pursuing opportunities in China and India. Separately, BP is being sued for $10bn by Texas attorney general Greg Abbott in connection to the oil major’s Texas City oil refinery.The class action suit, which was taken out against BP early last month, is alleging that the group has violated environmental laws by emitting up to 500,000 pounds of pollutants into the air. A statement from the group said: “We will continue to cooperate with the Attorney General’s office.” whatsapp BP HAS sold its Malaysian ethylene and polyethylene assets to Petroliam Nasional Berhad (Petronas) for $363m (£234.8m) to help foot the bill for the Gulf of Mexico oil spill, the worst environmental disaster in US history. As part of the deal, BP will sell off its 15 per cent interest in Ethylene Malaysia and its 60 per cent stake in Polyethylene Malaysia to Petronas, the Malaysian state owned oil company. The sale is part of BP’s plan to shed up to $30bn in assets over the next 18 months to fund the clean up and the legal bills of the Gulf of Mexico oil spill.“Whilst these are attractive businesses with strong domestic and regional markets, BP recognises that Petronas is their natural owner, with various integration opportunities uniquely available to them,” said Sue Rataj, president of BP’s global petrochemicals business. Rataj said that the sale would also help BP to focus on pursuing opportunities in China and India. Separately, BP is being sued for $10bn by Texas attorney general Greg Abbott in connection to the oil major’s Texas City oil refinery.The class action suit, which was taken out against BP early last month, is alleging that the group has violated environmental laws by emitting up to 500,000 pounds of pollutants into the air. A statement from the group said: “We will continue to cooperate with the Attorney General’s office.” KCS-content 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 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 BP sells assets in Malaysia to pay for US spill last_img read more

DMGT sees jump in market share as its CFO stands down

first_img KCS-content whatsapp Tags: NULL Share whatsappcenter_img DMGT sees jump in market share as its CFO stands down DAILY Mail & General Trust (DMGT) received a welcome boost from its flagship Daily Mail newspaper yesterday, which reported robust trading amid a gain in market share.DMGT said that advertising revenues at its national newspaper division have risen by 13 per cent year-on-year in the past three months. Print revenues at Associated Newspapers, home to the Daily Mail and Mail on Sunday, are up 10 per cent thanks to the rise in display ads. For the year to the end of August underlying, or like-for-like, revenues at Associated Newspapers were up three per cent with circulation revenues two per cent down year-on-year. Total underlying ad revenues were up six per cent for the period.The company’s regional arm Northcliffe Media, which owns more than 100 papers, reported that total revenues fell six per cent for the 11 months to the end of August.Chief executive Martin Morgan was cautious despite the positive update. He said: “We’ve really got to see a pickup in demand for jobs before we’re really on solid ground again.”DMGT said it expects to report exceptional gains of about £60m in its full-year results for the year to 3 October. On average, analysts expect DMGT to report pre-tax profits of £240m for 2010.The firm also announced its stalwart finance director Peter Williams will step down in March. Williams has been with DMGT since 1982 and has held the position since 1991. He will be replaced by Dow Jones chief financial officer Stephen Daintith.STEPHEN DAINTITHDMGTDAILY Mail & General Trust’s long-standing finance director Peter Williams will retire after 19 years in the job. He will be replaced by Dow Jones’s chief financial officer Stephen Daintith in March.Daintith, 46, has a wealth of experience in the field. He has been with news agency Dow Jones for two years, serving in the firm’s New York office from April 2008.In January he was also appointed chief operating officer of the firm, whilst remaining as chief financial officer. At the firm he was responsible for the company’s finance functions, including business unit finance, corporate accounting, general accounting, credit, internal audit and tax as well as corporate technology and general services.Before Dow Jones, Daintith was chief financial officer of News International, joining the British newspaper arm of Rupert Murdoch’s News Corp in 2005.Before that, he was with British American Tobacco where he held several executive positions since joining in 1996. He was the managing director of the company’s Swiss unit in 2004 after two years as managing director in Bangladesh. He also served as a finance director in Pakistan from 2000, and prior to this in South Africa as a finance director and strategic planning and business development manager.He led internal audits at Forte after graduating from Leeds University as an accountant and working for PriceWaterhouse. Show Comments ▼ Tuesday 28 September 2010 10:41 pmlast_img read more

Intel will finally enter tablet and phone markets

first_imgWednesday 13 October 2010 7:22 pm whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Intel will finally enter tablet and phone markets INTEL is “in talks” with manufacturers and will soon belatedly enter the smartphone and tablet markets.The chip maker has been left behind in the market for mobile devices, which has grown exponentially since the launch of Apple’s iPad and the growing range of next-generation smartphones.Intel’s European boss Tristan Wilkinson told City A.M. the impact of tablet computers remains to be seen but admitted it will transform the PC market. He said chips similar to Intel’s power saving Atom range were the “logical next step” for the mobile market. He also said the firm will soon release its new range of graphics-oriented chips, codenamed Sandy Bridge. KCS-content center_img whatsapp Share 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.comHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical Genius Show Comments ▼ Tags: NULLlast_img read more

BP’s Hayward starts energy consultancy

first_img Tags: NULL Sunday 14 November 2010 10:52 pm whatsapp whatsapp Show Comments ▼center_img Share FORMER BP chief executive Tony Hayward has set up his own business, understood to be an energy consultancy, as he rejoins the business world following his departure from the oil giant. Hayward set up 3E Capital on 28 October, papers filed at Companies House show. He lists Deloitte’s office in London as the company’s registered address, suggesting the professional services firm has helped him set up the business. The firm has started life with 100 shares, all of which belong to Hayward. He is also the sole director of the company. The firm’s initial registration papers do not specify what it will do, but several reports at the weekend claimed it is a vehicle for Hayward to undertake freelance work as an advisor to other energy companies. Hayward, who remains a BP director until the end of the year, was reportedly in Russia this weekend for his first meeting as a non-executive director of TNK-BP, the firm’s Russian joint venture. He stepped down from the top job at BP in the wake of the Deepwater Horizon disaster in April, where 11 rig workers died and oil spilled into the Gulf of Mexico, costing the firm $39bn to date. Hayward came under pressure to resign following a string of gaffes, including taking a yachting trip with his son off the Isle of Wight while oil continued to gush into the Gulf, and for telling reporters a month after the fatal spill: “I want my life back”.BP’s bill for the disaster could rise further if more compensation claims emerge. The US government’s independent probe into the Gulf spill heard last week about BP and its partners’ “culture of complacency”, and is due to report its findings in January. Its report could prompt more claimants to come forward.BP declined to comment on Hayward’s new project yesterday. TIME LINE | THE RISE AND FALL OF TONY HAYWARD● 21 May 1957Anthony Bryan Hayward, the eldest of seven children, is born in Slough.● 1982After a PhD in geology, he joins BP’s North Sea operations in Aberdeen and starts to work his way up the company. ● May 2007Hayward becomes chief executive of BP.● 20 April 2010Deepwater Horizon rig explodes in the Gulf of Mexico, killing 11 workers and causing oil to gush into the sea.● 17 MayHayward states the environmental impact of the spill was likely to be “very modest”.● 30 MayHayward travels to Louisiana to apologise to affected residents, but draws criticism for telling victims: “I would like my life back”.● 7 JuneUS president Barack Obama criticises Hayward, telling NBC he spoke to oil spill experts “so I know whose ass to kick”. ● 7 JuneHayward spends the day with his son, watching his yacht take part in a race around the Isle of Wight. ● 27 JulyAfter weeks of speculation, BP confirms that Hayward will step down in October, and that Bob Dudley will become the new chief executive. KCS-content BP’s Hayward starts energy consultancy last_img read more

Bhushan prepares for float

first_img Show Comments ▼ More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Sunday 5 December 2010 11:25 pm whatsapp Indian company Bhushan Power & Steel Group is planning a £450m flotation next year after appointing investment banks JPMorgan Chase and Credit Suisse to oversee it, according to reports out yesterday. Officials at the company’s headquarters in New Delhi could not be immediately reached to comment on the report. Last month, Indian energy group Jubilant Energy JUB.L raised around $85m (£53.9m) after listing shares on London’s AIM junior stock market. Bhushan prepares for float Sharecenter_img Tags: NULL 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 PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionlast_img read more

Bank mortgage approvals fall in 2010

first_img Show Comments ▼ John Dunne Wednesday 26 January 2011 6:26 am whatsapp Bank mortgage approvals fall in 2010 Sharecenter_img whatsapp More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com 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?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 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 The number of mortgages approved for house buyers by the UK’s main banks fell by ten per cent in 2010.The British Bankers’ Association (BBA) says its members approved just 400,000 mortgages in total.THe BBA said: “Mortgage demand was weak throughout the year.“Unsecured credit demand was also weak during last year, with net lending reducing by £2bn as households adopted a lower appetite for credit due to the uncertain environment for employment and the economy.” Tags: NULLlast_img read more

CHANGES TO THE BANK LEVY

first_imgTuesday 8 February 2011 9:11 pm whatsapp Tags: NULL Share CHANGES TO THE BANK LEVY More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org center_img KCS-content 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 PastWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBe Show Comments ▼ Q.WHICH BANKS WILL BE HIT BY THE LEVY?A.The revised levy will apply to UK banks on all equities and liabilities after a £20bn allowance is reached. It applies the same rules to the UK operations of foreign banks. HOW MATERIAL IS TODAY’S CHANGE?Initially, the rate that banks pay will be increased to 0.1 per cent for short-term chargeable liabilities and 0.05 per cent for long-term chargeable equity and liabilities, to offset the lower top rate of 0.05 per cent and 0.025 per cent respectively that was charged in January and February. After 30 April, this will drop back down to 0.075 per cent for short-term chargeable liabilities and 0.0375 per cent for long-term chargeable equity and liabilities. According to early analyst estimates the total levy could cost HSBC £500-600m, Barclays, Lloyds and RBS about £400m, and Standard Chartered about £100m.HOW DOES THIS DIFFER FROM LABOUR’S ONE-OFF BONUS TAX?Labour’s bonus tax, which ran from December 2009 to April 2010, applied a 50 per cent levy to all bank bonuses over £20,000. The coalition’s follow-up levy, which kicked in at the start of January this year, shifts the charge to the bank’s whole balance sheet and was initially set at 0.05 per cent. Labour says its tax brought in £3.5bn, but the coalition claims the actual figure was £2.3bn, once a reduction in income tax and corporation tax receipts was taken into account.WHY NOW?The Treasury says that according to a December report on financial stability by the Bank of England the “near-term outlook and resilience of the UK banking sector has improved”. This, it says, means that banks are more able to afford the incremental increase, and the government has modified its plan to delay the full impact of the levy until next year. Labour will be keen to claim victory though, after leader Ed Miliband argued in mid-January that the government was effectively handing banks a tax cut by applying a lower rate, making the amount raised less than Labour’s one-off bonus. whatsapplast_img read more

Head of Growth Fund named

first_img 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 ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal 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 AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Private equity veteran Stephen Welton is to become chief executive of the UK banks’ new £2.5bn Growth Fund, it was confirmed to City A.M. yesterday. Welton, currently at global private equity firm CCMP Capital, will work alongside BAA chairman Sir Nigel Rudd at the investment fund, which will invest in growing UK companies. Show Comments ▼ Head of Growth Fund named Tags: NULLcenter_img Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap whatsapp Wednesday 16 February 2011 9:00 pm KCS-content Sharelast_img read more

Soaring cost of living hits households

first_img Soaring cost of living hits households whatsapp whatsapp Tags: NULL Share Sunday 20 February 2011 11:06 pmcenter_img KCS-content HOUSEHOLD finances have taken a massive hit this month, according to a Markit index which saw inflation surge to an all time survey high.The cost of living measure showed 85 per cent of households reporting a rise in prices, Markit revealed today.Mortgage holders were particularly downbeat, as price pressures increase the chance of a hike in interest rates.Overall, 34 per cent of surveyed households noted a worsening of their finances in February, with only five per cent reporting an improvement.“An unhealthy combination of high inflation and job worries has caused households to report that their financial outlook has slumped back to the levels seen during the worst part of the recession in early 2009,” said Tim Moore, senior economist at Markit.Rising prices have largely hit those on low incomes, he said.The household finance index slipped to 35.6, down half a per cent from January’s rate, and well below its long term average of 38.5.However, the score was largely driven down by government sector employees. Respondents in the private sector actually recorded an improvement in their finances, with an index score of 37.8, slightly up from January’s 37.6.And public sector workers remained especially pessimistic, with over half (58 per cent) reporting a negative 12-month outlook for their finances and only 13 per cent expecting an improvement.Meanwhile, young people (aged 18 to 24) reported a record fall in their job security. Overall, around a quarter of respondents signalled a decline in their job security, with only seven per cent reporting an improvement. Show Comments ▼ 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 AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comlast_img read more