Lib Dems face a rift over Green
Wednesday 18 August 2010 8:38 pm Lib Dems face a rift over Green 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 ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof KCS-content Show Comments ▼ Share NICK Clegg pledged to crack down on tax avoidance yesterday, in a desperate bid to quell Liberal Democrat dissent over the government’s decision to appoint Sir Philip Green as a public spending tsar.The deputy prime minister, who is holding the fort while David Cameron is on holiday, used a high-profile speech to say the coalition would “ensure that wealthy individuals pay their fair share of tax”.Lib Dem MPs interpreted the comments as a sign of Clegg’s disquiet over the appointment of Green to head a review into government efficiency. Although the deputy prime minister has publicly backed the appointment, he has told colleagues he thinks Cameron was wrong to give the Topshop tycoon such a politically sensitive job. An aide to Clegg pointed out the deputy prime minister has been a long-standing opponent of tax avoidance. “What he said yesterday was in our manifesto, it was in the coalition agreement, and it was in the Budget red book,” he said.In the past, Green has come under fire for his tax arrangements. The biggest shareholder in his Arcadia empire is Taveta Investments, a UK-incorporated company controlled by his wife, a Monaco resident. In 2005, his family saved a significant amount of tax relating to the payment of a £1.14bn dividend through a series of complex tax planning arrangements.Last week, City A.M. revealed that Vince Cable, the business secretary and a long-standing opponent of tax avoidance, was not consulted over the decision to make Green a government adviser. Cable refused to back the Topshop tycoon’s appointment and made it known he was disgruntled by the snub. He has since asked for a meeting to discuss the billionaire’s tax affairs. Green has refused to take questions since we asked him last week whether his tax affairs had been discussed with the government ahead of his appointment.Last night, Lib Dem MP Mike Hancock said it was important that Green had a “clean bill of health”, saying it would look hypocritical if a businessman associated with tax avoidance had a hand in public sector job losses. 
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Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Share whatsapp Show Comments ▼ OFFICIAL statistics place too much weight on the consumer price index (CPI) as an inflation measure, according to the Royal Statistical Society (RSS). The group said downplaying the Retail Price Index in favour of CPI, which is used widely across Europe, fails to take national needs into account.The coalition government said in June it would start pricing benefits on the CPI from next April, in a move likely to save billions of pounds due to its traditionally lower rate. “Giving prominence to CPI ahead of other indices means that users are implicitly being encouraged to use it for purposes, such as wage negotiations, for which it is not ideal,” the society wrote in a letter to the parent body of the Office of National Statistics. “We do not feel that CPI should have sole star billing in this way.” CPI is not good enough to gauge inflation, says RSS Tags: NULL whatsapp KCS-content Tuesday 31 August 2010 8:49 pm
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whatsapp THE TUBE is expected to run a normal service today, according to Transport for London (TfL), after the strike by London Underground (LU) workers triggered intense disruption in London yesterday. However, more people than expected braved the strikes and came to work.By 5pm last night TfL said it was already operating one-third of its trains throughout the network, but delays continued past 9pm, when strikers returned to work, as LU moved to get the trains on the right tracks. Commuters walked and cycled as a number of station closures, slower trains and increased buses gridlocked traffic on the capital’s roads.“I stayed over in London last night at a huge cost to myself in order to miss the chaos. Then my taxi driver refused to take me to Canary Wharf due to the traffic, so I had to walk to my meeting in any case,” said Michael Derbyshire of Savills.On Monday evening, LU workers, members of the RMT and Transport Salaried Staffs’ Association (TSSA) trade unions, launched the strike in a protest to plans by TfL to axe up to 800 staff. More strikes could occur on 3 October, 2 November and 28 November if tensions continue. KCS-content Tube strike causes chaos Tags: NULL
China’s rapid ascent to become the world’s second largest economy provided confirmation – if any was needed – that the country is a key player on the global financial stage.And with China forecast to grow at around 10 per cent this year – down from recent pre-crisis highs but still far in advance of most rivals – it is clear that we are witnessing a shift in the balance of economic power towards the East.Just as London today is seen as the natural point of entry for international firms looking to access the European market, Chinese centres are working hard to become financial gateways to Asia and beyond.Hong Kong is already established among the top three in the world alongside London and New York, while the municipal government is taking steps towards realising its vision of Shanghai becoming an international financial centre and shipping hub by 2020.The scale of China’s ambitions and accomplishments are starkly evident as I write this in Shenzhen, which is marking the 30th anniversary of its founding as the country’s first Special Economic Zone.In that time, Shenzhen has been transformed from a small fishing village in the Pearl River Delta to China’s fourth richest city.Bold reforms have helped attract the foreign investment needed to accelerate Shenzhen’s economic development, which in turn has spawned innovative and international Shenzhen-based firms such as China Merchants Bank – one of several Chinese banks to set up in the UK recently.Of course, people often focus on Hong Kong’s booming growth and Shanghai’s grand plans. But there is no reason why China cannot sustain all three centres. Shenzhen is focusing primarily on SME listings, Shanghai on larger IPOs, and Hong Kong has long served as an international foothold into Asia.The domestic marketplace is certaintly large enough to cater for all three, with cross-border transactions – an area many City firms have considerable experience in – helping to drive growth forward.The UK has a mutually beneficial trade relationship with China – worth some £7.8bn in 2009 – and there is scope for further collaboration in areas as diverse as rural banking, M&A and green finance. Our exchange of expertise and ideas benefits both countries.More needs to be done, however, if China is to translate its unquestionable economic strength into an even more thriving financial industry.There is tremendous goodwill towards the City thanks to our historic ties, and we stand ready to help China meet burgeoning demand through close partnership.For more information on the City’s efforts in China visit: www.twitter.com/citylordmayor. Nick Anstee is Lord Mayor of the City of London Share KCS-content Show Comments ▼ whatsapp
Sunday 12 September 2010 10:26 pm Tags: NULL China now a bigger player on financial stage whatsapp
Monday 27 September 2010 8:11 pm Share CHINA Airlines yesterday pleaded guilty and agreed to pay a $40m (£25.2m) fine in the US for price-fixing related to its cargo business. The US Department of Justice has said that the Taiwan-based airline conspired to fix cargo prices between January 2001 and February 2006. China Airlines will pay the fine in annual instalments over the next five years. whatsapp More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org KCS-content 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 PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity 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.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndo
CHINA AIRLINES TO PAY $40M FINE Show Comments ▼ Tags: NULL whatsapp
Tags: NULL MILLIONS of commuters face yet another struggle to get home this evening as a third 24-hour strike on the London Underground begins.Transport for London (TFL) warned yesterday the underground network will begin to grind to a halt from around 5pm this evening as Tube workers wind down services in preparation for the strike, which officially begins at 7pm. It also warned that services were unlikely to return to normal until Thursday morning, with disruption expected on all routes. TFL said it expected to operate a restricted service on the Tube, adding that it managed to operate 40 per cent of services during the last strike. Meanwhile, it said there would be over 100 extra buses in operation as well as increased riverboat services in order to keep London moving. TFL also said planned roadworks were being put on hold during the strike. The walkout by the rail transport unions is in protest at job cuts at 650 ticket offices. London Mayor Boris Johnson said: “Londoners have shown that they will not be deterred from their daily business by these pointless strikes. The action of the union leaderships may cause some inconvenience but we are determined to keep the capital moving.”A fourth 24-hour strike is planned for 29 November. KCS-content whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tube strike to start at 7pm today 
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Tags: NULL Share whatsapp Show Comments ▼ VICKY REDWOOD | CAPITAL ECONOMICS“The MPC still seems to believe inflation will fall, further ahead. If anything we think there’ll be more QE, perhaps by August. The labour market is weak.”MICHAEL SAUNDERS | CITIGROUP“CPI inflation will hit four per cent by mid 2011, and core inflation is still a lot higher than the MPC expected a year ago. Rates could increase before long.”BENJAMIN WILLIAMSON | CENTRE FOR ECONOMICS AND BUSINESS RESEARCH“Rates will stay at their historic lows until the end of the year, as the MPC continues to take the medium-term outlook, as they should do. Wages account for around half of all costs, and show little sign of increasing. There is a danger of inflation falling well below target in 2012.” More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 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.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com
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New Star lessons need to be heeded Share KCS-content whatsapp THE TAKEOVER of Gartmore by Henderson isn’t the first time it has rescued a struggling rival.Two years ago Henderson purchased the stricken New Star fund, which led to 25 per cent of assets being withdrawn amid the takeover as portfolio managers departed.Some analysts fear Henderson could find itself in the same situation with the Gartmore takeover.Shore Capital analyst Danielle James said: “People don’t necessarily like the cultural change. Gartmore employees might view this as positive as, they might have viewed themselves on a sinking ship.“Henderson have got a track record for doing these deals… ultimately that was successful but there was quite a long teething period.”However, sources close to Henderson believe the Gartmore deal should not suffer the same pitfalls.As a worse case scenario the company predicts 20 per cent of its assets will disappear as a result of the deal, some five per cent less than at the time of New Star.TIME LINE | THE FALL OF GARTMOREJanuary 2011Henderson purchases Gartmore in a share deal worth £335m. Both firms see a share price lift.November 2010Gartmore says Roger Guy is set to retire from day-to-day management, and that chief investment officer Dominic Rossi will resign to join another manager. Gartmore appoints Goldman Sachs to carry out a strategic review. Shares in the fund manager shed a fifth of their value.July 2010Gartmore star manager Guillaume Rambourg quits to focus on FSA probe, leading to further falls in share price.June 2010UK financial regulator FSA says it will launch its own probe into Rambourg, shares fall.May 2010Gartmore says it had seen more than £1bn of withdrawals from the funds it oversees in the wake of Rambourg’s suspension.April 2010Rambourg returns to Gartmore as analyst, share price leaps.March 2010Gartmore suspends Rambourg as it carries out an internal investigation for breach of internal procedures by directing dealers to use favoured brokers. Shares fall by 11 per cent.December 2009Gartmore lists on the market for 220p per share, shares sink to 212p on its market debut.Simon WarshawUBSINVESTMENT bank UBS led the talks for Henderson as sole corporate broker, sponsor and joint lead arranger and joint bookrunner.Simon Warshaw head of investment banking at UBS, led the deal as lead financial adviser. Warshaw has spent 24 years at UBS, and helped found the bank’s media sector group. He has featured on the Guardian’s Media 100 list for his role in Lord Carter’s Digital Britain report. Ondra partners, the boutique set up in the wake of Lehman’s collapse also acted for Henderson, with Michael Tory and Stewart Bennett as part of the team. Goldman Sachs advised Gartmore. Wednesday 12 January 2011 8:34 pm Tags: NULL 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 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 whatsapp
Share KCS-content whatsapp Thursday 13 January 2011 7:56 pm whatsapp BRITAIN’S ongoing manufacturing resurgence was confirmed by government figures, yesterday.Output increased across nearly all manufacturing sectors in November, rising by 0.6 per cent on the previous month, and by 5.6 per cent compared to the same time in 2009.The industry has grown for 13 consecutive months, according to the underlying trend of three month blocks, which the Office for National Statistics (ONS) recommends. “As suggested by survey data for the final months of the year, the manufacturing sector continues to grow robustly,” commented Nida Ali of the Ernst & Young Item Club.He added: “December’s purchasing managers’ index indicated another rise in export orders and we expect manufacturing to continue leading the economic recovery this year.”“The strong contribution from capital goods supports our view that investment will continue to grow steadily in the coming quarters,” added Hetal Mehta of Daiwa Capital.Overall industrial production rose by 0.4 per cent in November, slowed down by erratic components such as mining and quarrying and utilities. In the three-month comparison, provided to smooth out “volatile” monthly data, production increased at double the rate – by 0.8 per cent.Industrial production accounts for 17.2 per cent of GDP.The whole UK economy expanded by half a per cent in the final three months of the year, according to a forecast released yesterday by the National Institute of Economic and Social Research (NIESR).“Unless output turns down again, the recession is over,” the report said. However, the economy will not fully recover until 2012, NIESR warned. Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap Show Comments ▼ UK industrial production rising Tags: NULL
Business networking site LinkedIn plans to raise as much as $175m (£110m) in an initial public offering that could value the firm at almost $3bn.The highly-rated company saw its sales more than double to $161.4m in the first nine months of last year from $80.8m in 2009. Its profits for the same period hit $1.85m.Morgan Stanley, Bank of America and JPMorgan Chase will be among the bookrunners for the offering.The number of shares to be offered and the price range for the offering have not been finalised, according to a statement the company filed with the US Securities and Exchange Commission (SEC).A portion of the shares will be issued and sold by the company, while a separate portion will be sold by certain stockholders of LinkedIn, the filing said. LinkedIn, led by chief executive Jeff Weiner, has 90m users, compared with Facebook’s 500m. Share KCS-content Show Comments ▼ whatsapp 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 LinkedIn prepares IPO whatsapp Thursday 27 January 2011 9:11 pm Tags: NULL