Reposessions are still falling

September 4th, 2021

first_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice 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.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com whatsapp whatsapp THE Council of Mortgage Lenders (CML) has revised down its forecast for the number of borrowers who either fall behind in mortgage payments or lose their homes through repossession this year. The CML now expects 39,000 repossessions and 175,000 mortgages to end the year in arrears of 2.5 per cent or more, down from its previous forecast of 53,000 and 205,000 respectively.The revision comes after news that mortgage repossessions continued to fall in the second quarter. There were 9,400 repossessions, down from 11,800 in the second quarter of 2009. But the CML warned against complacency and said that yesterday’s headline figures masked differences in health between arrears bands. For example, there has been an improvement in the lowest arrears category – between 1.5 per cent and 2.5 per cent of the total balance. But the number of mortgages in arrears of 10 per cent or more has remained static, the CML said. Although yesterday’s news was welcomed, some industry analysts are still concerned about the future. “With interest rates possibly due to rise next year and some borrowers trapped on their lenders’ standard variable rates, arrears and repossessions may actually deteriorate now, even as economic recovery continues,” said David Newnes, estate agency managing director of property firm LSL. CML director general Michael Coogan said government budget cuts could reduce debt advice funding and government mortgage rescue schemes: “While we don’t want to cry wolf, it seems obvious that the ongoing prognosis for arrears and possessions is far from a healthy all-clear.” Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img KCS-content Tags: NULL Share Thursday 12 August 2010 7:54 pm Reposessions are still falling last_img read more

Cameron takes stock after 100 days in power

September 4th, 2021

first_img More From Our Partners I 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.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Tuesday 17 August 2010 7:46 pm Show Comments ▼ KCS-content Share whatsapp whatsapp Cameron takes stock after 100 days in power TONY Blair, who releases his memoirs next month, says his biggest regret was not doing enough during his early years in power. He wasted his first 100 days – and indeed much of his first term – basking in the glory of Labour’s landslide win. By the time he turned his attention to public service reform, his popularity was waning, as was his ability to take on Gordon Brown, a powerful but disgruntled chancellor who was hell-bent on blocking Blair at every turn. The spectre of Blair’s big mistake haunts David Cameron, who took power in less auspicious circumstances 100 days ago. Although many observers expected a Tory-Liberal administration to be hamstrung with infighting and indecision, the fragility of the government has spurred it to do more, not less; both sides are acutely aware that a coalition – no matter how strong – is more likely to fall apart than a majority government. Time is not on their side. With this in mind, the government has been getting things done at a frenetic pace. Legislation is being rushed through the Commons at breakneck speed, using mechanisms originally designed for times of national emergency; Downing Street spinners have been instructed to make an announcement a day; laws have been repealed; and countless reviews have begun. Here City A.M. selects the events that have affected London’s financiers and businesses, and asks if more – or less – could have been done. EMERGENCY BUDGETGeorge Osborne’s emergency Budget, delivered in June, looms large over everything the government does. Faced with a parlous economic inheritance, Osborne has embarked on the toughest fiscal tightening in Britain’s peacetime history; most departments (excluding health and international aid) have been asked to cut spending in real terms by between 25 per cent and 40 per cent. The City had serious concerns about Osborne when he was in opposition, but, for now at least, he has protected Britain’s triple-A rating and kept the cost of servicing the national debt low. He also managed to see off a potential rebellion by brokering a compromise on capital gains tax, which went up from 18 to 28 per cent; high enough to satisfy tax-happy Lib Dems but low enough to convince Tory rebels to keep their powder dry. OFFICE FOR BUDGET RESPONSIBILITYThis was supposed to be Osborne’s big, bold move: an official forecaster that was independent of the Treasury, making it impossible for the chancellor to fiddle growth forecasts to fit his Budget. Advisers likened the move to Gordon Brown’s decision to hand interest rate setting powers to the Bank of England in 1997. Osborne always knew the OBR could create a rod for his own back, but he can’t have gambled on it causing so many problems so early on. Its inaugural head Sir Alan Budd has already stood down amid questions over his independence, and a replacement has yet to be found. Few can doubt the merits of an OBR, but its genesis has been nothing but trouble. FINANCIAL REGULATIONOsborne’s long-held dream of scrapping the Financial Services Authority and handing its powers to a beefed up Bank of England looked in jeopardy when the coalition was formed. Vince Cable, the Lib Dem voice on economics, was an ardent opponent. Still, Osborne got his way, albeit by convincing FSA chief Hector Sants to stay on board at the very last minute. Sants will oversee the disbandment of the FSA and then head up the new Prudential Regulation Authority (PRA), a subsidiary of the Bank. An Economic Crime Agency, promised by the Tories in opposition, seems to have hit the skids for now, however, showing the limitations of the government’s whirlwind approach. Although Osborne has won the argument on disbanding the FSA, the real test is whether the PRA is much better. BANKING COMMISSIONThere’s been a running joke in Westminster since the coalition took the reins of power. “A review a day keeps legislation away”. Reviews and commissions have become a useful device for kicking party differences into the long grass, not least in the area of banking. In opposition, the Lib Dems said the break-up of universal banks like HSBC and Barclays would be a precondition of any coalition deal, but they’ve had to make do with an independent commission instead. The make-up of the commission should worry the banking industry: consumer champion Claire Spottiswoode has already called for the separation of retail and investment banking, while Financial Times writer Martin Wolf argues for a similar approach in his columns. Even the bankers – ex-Barclays chief Martin Taylor and former JP Morgan banker Bill Winters – are said to be in two minds about the merits of the universal model. Sources say Osborne and Cable are not as divided on the future of banking as reports suggest: the spectre of a British version of Glass-Steagall could yet become a reality. TAX ANDRED TAPE Firms feel more at home with the pro-business noises coming from the new government, but there have been few actions to match the rhetoric. On the plus side, the headline rate of corporation tax will be cut by 1p-a-year for the next four years until it hits 24p – Britain’s lowest ever rate, while the government will reform the way in which foreign profits are taxed. But the government is planning to scrap the default retirement age and is pressing ahead with Harriet Harman’s equalities agenda, both of which will cost firms dearly. Hopes for a bonfire of red tape appear to have been just that. Tags: NULLlast_img read more

CITY VIEWS: WHO DO YOU THINK SHOULD BE THE NEXT LABOUR LEADER?

September 4th, 2021

first_img whatsapp Tags: NULL Share whatsapp 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 ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof CITY VIEWS: WHO DO YOU THINK SHOULD BE THE NEXT LABOUR LEADER? center_img Show Comments ▼ KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoBetterBe20 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 BlvdUndo Monday 23 August 2010 7:47 pm ANTHONY ROBBINS | DEUTSCHE BANK“Since the general election, my interest in politics has waned. The next one is so far away that the outcome of the leadership contest is almost irrelevant. It will probably be David Miliband, but I’m not that bothered.”DAVID LLOYD | IN KIND DIRECT“The party needs someone younger and more dynamic, someone who can talk to the press and follow in Blair’s footsteps. David Miliband has possibly missed his chance, but his brother has a look in.”NICK SPENCER | LLOYD’S REGISTER“It’s not a very interesting contest; the coalition are proving more entertaining. I wouldn’t mind David Miliband, but I can’t stand Ed Balls. If he wins, Labour stand little chance of being elected.” last_img read more

Air traffic growth slows down as economies stall

September 4th, 2021

first_img Share Air traffic growth slows down as economies stall More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.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.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.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comConnecticut man dies after crashing Harley into live bearnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com GROWTH in air traffic slowed noticeably in August as this year’s rebound from the economic downturn lost steam, the International Air Transport Association(IATA) said yesterday.Passenger traffic in August was 6.4 per cent higher than a year earlier, against a 9.5 per cent year-on-year increase in July, and freight traffic was 19.6 per cent higher in August, down from a 23.0 per cent increase in July, IATA said in its monthly report.“The rapid improvements in demand that we saw earlier this year are behind us. The slowdown of demand (growth) in August is consistent with our forecast for a tougher end to 2010 as government stimulus monies run out without having generated significant improvements in employment,” said IATA director general and CEO Giovanni Bisignani.Slower demand growth in the second half of 2010 was expected to continue into next year, IATA said.In August, global passenger traffic was two per cent above pre-recession levels of early 2008. International cargo traffic was up three per cent. whatsapp whatsapp Tuesday 28 September 2010 10:32 pm Show Comments ▼ KCS-content Tags: NULLlast_img read more

M&S sales up – but warns over tough times ahead

September 4th, 2021

first_img Marks & Spencer has seen total group sales rise in the UK by 6.5 per cent in the second quarter but warned that trading in the coming months will get tougher.Clothing rose by 7.8 per cent while homeware surged by 9.36 per cent in the 13 weeks to 2 October.Marks & Spencer food sales went up by five per cent.Chief executive Mark Bolland said: “Marks & Spencer has had a good second quarter, growing market share across all parts of the business. Customers are returning to quality. In Food they are responding well to our better value and innovation, and in Clothing are increasingly choosing M&S’s great fashions and quality that lasts.” Meanwhile the company said in a statement: “Trading conditions ahead are likely to become more challenging. Consumers’ disposable incomes will come under greater pressure from increased VAT rates and public spending cuts. ‘We are facing increased commodity prices and significantly tougher comparatives in the second half. As a result we remain cautious about the outlook for the remainder of this year and next.” M&S sales up – but warns over tough times ahead Thursday 7 October 2010 2:58 am whatsapp whatsapp Show Comments ▼center_img Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’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 Wrap Share 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 PastNoteabley25 Funny Notes Written By StrangersNoteableySerendipity 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 John Dunne Tags: NULLlast_img read more

CITY VIEWS: IS THE GOVERNMENT RIGHT TO PUBLISH A LIST OF ITS BIGGEST SUPPLIERS?

September 4th, 2021

first_imgThursday 18 November 2010 8:37 pm CITY VIEWS: IS THE GOVERNMENT RIGHT TO PUBLISH A LIST OF ITS BIGGEST SUPPLIERS? KCS-content 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 PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity 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 HeraldWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem whatsappcenter_img whatsapp Tags: NULL Show Comments ▼ 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 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap TONY STIRZAKER | MOLEX“Indeed it will help because the government is spending way too much. Much of this money is wasted. Thankfully, the new transparency also lets me pay taxes with confidence.”PHIL MOORE | RSA INSURANCE“I think the transparency will help me form an opinion. It will help me find out what my government is spending on, and determine if I like it or not. Undoubtedly, this gives me confidence now that I can see where the money is being spent.”PIERRE HENRI LEROY | PROXINVEST“I would say ‘yes’. Disclosure is a really good thing because it lets you see where the money is going. If you don’t disclose, no one will trust you.” last_img read more

IRELAND BETS ALL ON DRASTIC CUTS

September 4th, 2021

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity 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 HeraldMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsapp whatsapp Show Comments ▼ Share KCS-content THE Irish government today released a four-year austerity plan described as “draconian” and “staggeringly austere” by analysts, with €15bn (£12.6bn) of budget cuts planned by 2014. But the measures failed to placate the markets, where Irish bond yields continued to rise on fears that the government will be unable to get the cuts through parliament: 10-year yields jumped to 8.9 per cent, just short of the highs they reached before Ireland announced its intention to apply for a bailout.The cost of insuring Irish debt also rose, with credit default swaps rising by 16 basis points (bps) to 595bps, meaning it now costs €595,000 to insure €10m’s worth of debt.Economists welcomed the depth of the cuts but were sceptical about the plan’s growth forecasts: it predicts an average growth rate of 2.75 per cent over the next three years despite a likely contraction in the economy during 2010. People immediately took to the streets to protest against the plans, which would come on top of €15bn of cuts already made. The new cuts involve slashing Ireland’s minimum wage – one of the highest in Europe – by one euro to €7.65, reducing the public sector payroll by 24,750 and cutting wages for new hires by 10 per cent. Welfare payments will also be reduced by €2.8bn. Overall, the plan makes €7bn’s worth of cuts in services, €3bn in capital expenditure and makes up the rest with €5bn of tax rises. The cuts are to be front-loaded, with €4.5bn of cuts and €1.5bn of tax rises to come in 2011.However, the tax changes do not include any rise in the country’s flagship 12.5 per cent corporation tax rate – one of the lowest in Europe. Instead, the government proposes raising VAT to 23 per cent over three years (from 21 per cent now), reducing the value of income tax credits and tax bands by 16.5 per cent and doubling its carbon tax to €30 per tonne. Irish Prime Minister Brian Cowen, who yesterday confirmed the EU/IMF bailout would be €85bn said: “The size of the crisis means that no one will be sheltered from the contribution that has to be made towards national recovery.” But with two independent MPs defecting from the government coalition this week, Cowen is short of the votes needed to pass the package. And even if it passes, it does not address the insolvency of the country’s banking system. Commerzbank’s Peter Dixon said: “The underlying problem of the massive hole in banking sector balance sheets is yet to be tackled.” IRELAND BETS ALL ON DRASTIC CUTS Tags: NULL Wednesday 24 November 2010 9:06 pmlast_img read more

StanChart to hit record profit as bad loans fall

September 4th, 2021

first_img whatsapp whatsapp Tags: NULL StanChart to hit record profit as bad loans fall Standard Chartered that it expects to post record income and profit for this year, helped by falling loan impairments and growth in consumer banking.Income in the second half of 2010 was expected to clock in at levels similar to the first six months, the bank said in an update posted on the Hong Kong stock exchange website, before its regular year-end briefing later in the day.“The group has continued to perform well, consistent with our expectations and guidance,” the bank said in the statement. “Both businesses have performed well, with client income growth in wholesale banking very good and income in consumer banking showing good levels of growth.”The bank’s Hong Kong-listed shares were up 3.8 per cent before it gave the update, but eased slightly after the midday trading break.Standard Chartered reported a first-half profit of $3.12bn (£1.97bn) as bad debts more than halved and its key Asian markets performed better than those in the West.The fall in loan impairments was likely to have extended into the second half of this year, the bank said in a statement, and it expected bad loans to be significantly lower in 2010 compared with the previous year.StanChart has been expanding aggressively in the wholesale and consumer banking areas, snagging several high-profile deals including as lead underwriter for McDonald’s Corp’s landmark 200 million yuan bond in Hong Kong earlier this year.Cost growth would exceed income growth in the full year as a result of these new businesses, the bank said, adding that it also saw margin pressure from increased compliance costs and higher staff expenses.Net interest margins were set to fall from 2009 due to pressure on asset margins across a number of different countries, it added.Standard Chartered raised $5.3bn from a rights issue in October, which it said would bolster its finances ahead of new capital rules and provide firepower to take advantage of new opportunities. Show Comments ▼ Thursday 9 December 2010 2:52 am Share 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 TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald John Dunne last_img read more

Fed’s doves will keep cash cheap

September 4th, 2021

first_img KCS-content INTEREST rates will stay “exceptionally low for an extended period”, the US Federal Reserve announced last night.And despite claims from home and abroad that it is fuelling a fresh bubble, the Fed will continue its lastest phase of quantitative easing (QE2), buying around $75bn (£47.5bn) of Treasury assets every month.Markets reacted to the news with 30-year Treasury yields spiking to an eight-month high of 4.56 per cent.And the Dow Jones Industrial Average closed at a two-year high of 11,514, after the Fed’s announcement followed a day of positive news for the US recovery.But growth remains “at a rate that has been insufficient to bring down unemployment”, the Fed argued, requiring interest rates to stay at zero to 0.25 per cent.In its final statement of the year, the Federal Open Market Committee (FOMC) repeatedly stressed its “dual mandate to foster maximum employment” as well as price stability.Last week Bernanke raised the spectre of deflation, saying the US was “getting close to a point where prices start falling.” Even further easing, QE3, was “certainly possible”, he said.But core producer prices actually rose in November, by 0.3 per cent on the previous month, it was revealed yesterday before the Fed’s statement.And inflationary pressures are being felt throughout the world, partly from rising commodity prices. Chinese consumer prices increased by 5.1 per cent last month, while the Bank of England is facing inflationary levels of 3.3 per cent and rising.One of the FOMC members, Thomas M. Hoenig, voted against the monetary accomodation, arguing that it “would cause an increase in long term inflation expectations that could destabilise the economy”.The continuation of QE “really sets off inflation fears”, said Jim Paulsen, chief investment strategist at Wells Capital Management.Last month Bernanke courted controversy by commenting on President Obama’s fiscal stimulus package. On top of the Fed’s measures, Bernanke called for “a fiscal programme that combines near term measures to enhance growth with strong, confidence inducing steps to reduce longer term structural deficits.”“Fiscal policy may even be a little irresponsible, given the worldwide trend to fiscal austerity, and lack of plans for fiscal consolidation in the US,” he added.Over half Americans want to rein in the Fed, a poll revealed last week. And 16 per cent want the Fed scrapped altogether. 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 AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Today whatsapp Fed’s doves will keep cash cheap Tags: NULL whatsapp Tuesday 14 December 2010 9:42 pm Show Comments ▼ Sharelast_img read more

BarCap to cut 200 UK staff as revenues fall

September 4th, 2021

first_img KCS-content Show Comments ▼ whatsapp Wednesday 12 January 2011 9:15 pm Tags: NULL 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 Wrapcenter_img BarCap to cut 200 UK staff as revenues fall 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 ScottsdaleMoneyPailUndoTotal 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 AthletesBetterBeUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndo BARCLAYS Capital will lay off two to three per cent of its workforce this week, with a third of the cuts to fall on its London offices.In all, 600 front and back office staff will be given notice at the investment bank, with around 200 of those in the UK. The downsizing will include several managing directors as well as junior staff.The bank had been expanding its equities business over the last couple of years, but the European division is now thought to have reached an appropriate size even as equities hiring will continue in Asia.2010 was a difficult year for investment banks, with many primary market activities such as floats put off due to an uncertain economic climate. BarCap’s most recent results, for the third quarter of last year, show revenues slowing quarter-on-quarter, despite being up overall on 2009. The division made a loss of £182m in the third quarter, a dramatic fall from pre-tax profits of £1.9bn in the previous quarter.The job cuts this week will mark the end of a consultation period begun in December, a period mandated by UK law for any business that intends to cut more than 100 jobs.Chief executive Bob Diamond is also conducting a separate review of the whole bank, including BarCap, the division he built and headed for 14 years.There was speculation this week by analysts that Barclays might opt to spin off its worst assets into a “bad bank” as RBS did after the credit crunch.The idea was mooted by Rich Ricci last year, currently the bank’s co-head of corporate and investment banking. whatsapp Sharelast_img read more