Outgoing BP boss to face MPs over spill

first_img Tags: NULL BP’S outgoing chief executive, Tony Hayward, will be grilled by MPs next week over the UK implications of the Gulf of Mexico oil spill.Hayward is to appear in front of the House of Commons energy and climate change select committee next Wednesday as the accident has raised concerns globally about the dangers of drilling in ever-deeper waters.North Sea producers are fighting to convince the British government that the UK does not need a moratorium on drilling, like the one imposed in the US by President Barack Obama, pending a review of the cause of the disaster.Norway has halted new offshore projects until the causes of the rig blast that led to the BP oil spill are known.Hayward will be accompanied by BP’s North Sea boss Bernard Looney and Mark Bly, BP’s head of safety.Three days ago, Bly presented BP’s own internal report into the accident – which was the largest oil spill in the US. The document laid much of the blame for the accident on BP’s contractors, driller Transocean and Halliburton, the company which cemented the well.The companies rejected the accusations.Hayward will to be replaced next month by Bob Dudley, who is currently leading the BP cleanup effort in the Gulf. whatsapp Thursday 9 September 2010 8:45 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.cominvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comFilm OracleHer Love Triangle Inspired 3 Of The Most Popular Songs Ever WrittenFilm OracleYeah MotorCheck Out These Car Wraps, 20 Car Wraps That Had Us LaughingYeah MotorPets DetectiveAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongPets Detective KCS-content center_img Outgoing BP boss to face MPs over spill whatsapp Share 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 ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily 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 last_img read more

GE closes in on UK oil firm with top bid

first_img Show Comments ▼ KCS-content Share GENERAL ELECTRIC (GE) is plotting an £800m-plus takeover of British oil services group Wellstream, it emerged over the weekend.The US based conglomerate is thought to have been the first bidder for Wellstream, which makes specialist pipes used in offshore drilling. Late last month, Wellstream confirmed that it had received several bid approaches but would not disclose the name of the suitors. The group said it had “received a number of preliminary approaches regarding a possible offer for the company” but there was “no certainty that an acceptable offer will ultimately be made”.It is understood that GE’s approach was made through its oil services arm, Vetco Gray, which it bought for $1.9bn (£1.2bn) in 2007.Although a number of other bidders have expressed interest, it is thought that GE is the leading contender. If the deal goes through, it could stand as the largest for the company in the UK since 2007 when it bought medical equipment firm, Amersham, for £5.7bn. Shares in Wellstream, which was floated three years ago by Candover, have skyrocketed since last month’s takeover news, climbing by 29 per cent and valuing the company at £778m.It currently employs 1,000 people, while GE employs more than 19,000 people in Britain. Sunday 3 October 2010 11:00 pm whatsapp 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.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.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.org whatsapp GE closes in on UK oil firm with top bid Tags: NULLlast_img read more

Chrysalis is looking for merger deal

first_img whatsapp Share Show Comments ▼ Independent music firm Chrysalis yesterday made public its intention to find a buyer, pushing its shares up by more than 20 per cent.The company, which owns tracks by artists including Michael Jackson and David Bowie, is also considering merging its operations with a another firm.A company spokesman admitted the firm is “in early stage discussions with a number of parties regarding merger opportunities”.He said the talks are at a “very preliminary stage” and added “there can be no certainty that an offer will be made or the terms on which any offer would be made.”The firm has hired Jefferies to advise it the sale deal. The music ownership firm, which has a market cap of £74m, declined to name who it has been in talks with.Earlier this year Chrysalis said it expects to grow its royalties in 2011 as it continues to build on a robust year so far­­­.With a promising autumn/winter release schedule, it says it is set to benefit from albums by Rumer, Fleet Foxes and White Lies and gain from contributions by its writers to albums by Kylie Minogue, Tom Jones and Robbie Williams. JULIAN CULHANE JEFFERIESADVISING on the deal is investment bank Jefferies. Heading up the team is Julian Culhane, Managing Director in M&A Investment Banking. He has held the position since 2007. He joined from LongAcre Partners, where he was one of three founding partners who grew the firm into a leading media corporate finance advisory firm before its acquisition by Jefferies. Prior to this he was chief financial officer at lastminute.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 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 CenterBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach Raider whatsapp Monday 1 November 2010 7:27 pm 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 Chrysalis is looking for merger deal KCS-content Tags: NULLlast_img read more

Pfizer’s sales lag rivals as generics bite

first_img DRUGS giant Pfizer yesterday reported disappointing sales, hurt by generic competition for its Lipitor cholesterol fighter and Effexor XR depression drug as well as weak revenue in emerging markets.The last of the large US drugmakers to report third-quarter earnings, Pfizer followed the example of most rivals with higher-than-expected profits – largely from cost cuts – but disappointing sales as it faces patent expirations on some of its top-selling products.“Generic competition is causing pain, and this is just a taste of what Pfizer will be going through in the next few years,” said Morningstar analyst Damien Conover.The world’ largest drugmaker said global sales of Lipitor dropped 11 per cent to $2.53bn in the quarter. The arrival in recent months of Lipitor generics in Canada and Spain hurt the world’s top-selling medicine.The bigger threat to Pfizer comes in November 2011, when Lipitor loses US marketing exclusivity. Pfizer bought Wyeth last year for $67bn, aiming to replace vanishing Lipitor revenue with the US rival’s brands.Effexor XR, a Wyeth anti-depressant that once had annual sales of $3bn, was battered by cheaper US generic versions launched over the summer. Sales of the pill plunged to $175m in the third quarter.“As with the rest of the industry, patent losses are hurting the bottom line, and it’s always especially tricky to gauge the real magnitude of patent erosion in overseas markets,” Conover said.Pfizer is also counting heavily on fast-growing emerging markets to bolster results in coming years. But its sales in those markets, excluding the Wyeth brands, were essentially flat in the quarter. The company’s earnings fell to $866m, or 11 cents per share, from $2.88bn, or 43 cents, a year earlier. Excluding merger costs and other special items, Pfizer earned 54 cents per share. Pfizer’s sales lag rivals as generics bite Tuesday 2 November 2010 9:29 pm Share whatsapp whatsappcenter_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.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 FollowAlphaCuteDirect HealthyKate Silverton’s PartnerDirect Healthythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Show Comments ▼ Tags: NULL More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.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.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comlast_img read more

Federal Reserve’s hubris will cost all of us dearly

first_imgWednesday 3 November 2010 10:44 pm Federal Reserve’s hubris will cost all of us dearly 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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com whatsapp Share whatsappcenter_img KCS-content 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 TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.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 CenterBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach Raider IT may have been slightly more than the markets were expecting – but nobody will have been shocked by the Federal Reserve’s decision to embark on another $600bn worth of quantitative easing (QE2). That doesn’t make the decision any less wrong or short-termist; the problem is that the Fed and the bulk of the US economic establishment remain excessively hubristic about their ability to kick-start sustainable growth in America. The US unemployment rate is officially at 9.6 per cent and undoubtedly even higher, one of the many reasons why the Democrats were badly punished yesterday in the mid-term elections. But elevated unemployment and weak growth is the tragic yet unavoidable consequence of an economy that is attempting to wean itself from a mad credit and property bubble. Consumers and governments need to deleverage (not that Washington has even started on this); the property market needs to return to normal; resources and manpower previously allocated to construction need to be shifted. This is a difficult and painful process. The Fed has already done as much as it sensibly could to alleviate the transitional pain; there has been plenty of asset purchases, while interest rates are still at rock-bottom. Bernanke should not try to pursue an utopian policy to conjure growth out of thin air by printing more money. QE will occasionally have a vital role to play in economic policy – but only to eliminate the threat of total collapse. We were at this stage two years ago but certainly not today.On top of the $600bn in fresh quantitative easing, the Fed already has a scheme to reinvest maturing assets. The combined action means that the US central bank is set to buy $850bn to $900bn of Treasuries by the end of the second quarter of next year. To date, the Fed has bought $1.7 trillion in US government and mortgage securities. Bernanke is repeating, at least in part, the terrible mistake made in 2003 by his predecessor Alan Greenspan, when interest rates were cut to one per cent to minimise what many wrongly saw at the time as a risk of deflation. In the event, core consumer price inflation actually rose from a low of 1.1 per cent in December 2003 to 2.4 per cent in February 2005. The US is not currently in deflation – and it is not facing a recession either. The economy grew by a paltry annualised two per cent in the third quarter – but given the huge dangers of engaging in further QE, weak growth is the least of several evils in this instance.One of the side-effects of quantitative easing is that it is fuelling a bubble in the emerging markets. Liquidity is pouring in, as yield-seeking investors seek to boost returns, pushing up exchange rates and triggering protectionist or interventionist responses.Sometimes, weak growth is just a fact of life. There may be no limit to the harm central bankers can do but there is certainly a limit to what good they can achieve. What a shame the US authorities cannot accept this. [email protected] Show Comments ▼ Tags: NULLlast_img read more

Energy firms get chilly reception to price rises

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 The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity 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 Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Tuesday 30 November 2010 8:10 pm PUBLIC perception of the large energy providers has dived after November saw steep price hikes that will see households face near-record gas and electricity bills this winter, despite the fact that wholesale prices, at 1.7p a kilowatt-hour (kWh), are only half the level of 2008 when they reached 3.2p/kWh, and profits are healthy.On 12 November, British Gas surprised the energy sector by announcing it will increase gas and electricity prices by an average of seven per cent, with many customers facing as much as a 10 per cent rise. This follows news from Scottish & Southern Energy that it will raise prices by 9.4 per cent. Similar raises are expected from Scottish power and npower.These actions have not gone unnoticed. YouGov’s BrandIndex “Buzz” score, which charts the immediate balance of positive and negative sentiments among the population, registered significant drops for each of the big five energy companies during November – -14.4 for SSE, -18.8 for Scottish Power, -5.5 for npower.British Gas though took the greatest hit with its “Buzz” score dropping to a low of -43.2 on 19 November before recovering to -34.8 by the end of the month. This perhaps reflects the double hit of raising their prices whilst at the same time announcing significant profits. Centrica, which operates British Gas, told City analysts just over a week after the increases were announced that its profits were likely to be above expectations, hitting £2.2bn. Only one company, EDF Energy, has pledged to freeze bills over the winter. But though its “Buzz” score rose briefly to a high of 0.3 on the 12 November it has ended the month with an overall drop of -7.1. Stephan Shakespeare is founder and chief executive of YouGov. KCS-content whatsapp whatsappcenter_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Share Energy firms get chilly reception to price rises Show Comments ▼ Tags: NULLlast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

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 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’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Share KCS-content whatsapp Thursday 13 January 2011 7:18 pm Show Comments ▼ City of London Law SocietyThe membership organisation has appointed a new chief executive: David Hobart. He is currently CEO of the Bar Council, in charge of representing barrister members, and has been heavily involved in changes to the law industry since 2007. Before joining the Bar Council, he had a long career in the RAF, from which he retired in 2004 at the rank of air vice-marshall. He studied law twice during his time at the RAF, including a stint at Cambridge.PricewaterhouseCoopersThe financial services firm has appointed Neil Roden as a partner in its human resources consulting practice. He spent the last decade as group director of HR at RBS and has also worked at National Australia Bank. His experience includes involvement in numerous mergers and acquisitions deals and downsizing.Nardello & CoThe international investigations firm has appointed four City figures to advise its chief executive, Daniel Nardello.Rupert Pennant-Rea, former deputy governor of the Bank of England and chair of Henderson Group and The Economist Group, will join the board to provide financial services expertise.Charles Irby, former managing director of ING Barings, will also provide advice on financial services. Chris Jones, former chairman and CEO of J Walter Thompson and Evie Soames, former director at Liberty, will also be joining the advisory board.First Reserve CorporationThe private investment firm in the energy sector has promoted five professionals from its investment team and three in its accounting team.Jeffrey Quake has been named managing director, while Edward Bialas, Michael France, Dod Wales and Neil Wizel have all been appointed as directors.In accounting, Chris Tracey has moved up to assistant controller of the general partner, Lucas Markelon to manager of accounting of the infrastructure fund and Scott Whittlesey to accounting manager.Signia WealthThe wealth manager focused on ultra high net worth clients has appointed Carnegie Smyth as director of wealth structuring. He joins the firm from Deloitte, where he was in a similar line of work.Rosenblatt SolicitorsHamilton Forrest has joined the firm as a partner, having previously worked at Fladgate, where he had been a partner for two years. Before that, he spent ten years at CMS Cameron McKenna. CITY MOVES | WHO’S SWITCHING JOBS Tags: NULLlast_img read more

High-flying Mayer sent to London

first_img IGAL Mayer’s move to become chief executive of Aviva’s all-important European business is the Canadian’s third stint in London during his 22-year career with the company. In Canada he rose to executive vice-president-level before moving to London in 1999 to become managing director at CGU, which merged with Norwich Union to become Avvia. He became finance director of Aviva’s UK general insurance business in 2000, but returned to lead Aviva Canada in 2001. Mayer, 51, returned to the UK again in 2007 to head the general business, before moving to Iowa as US chief executive in January 2010. Aviva said Mayer had more than doubled profits there in that year.Sources said Mayer was a “deliverer” who had “a very strong track record”. Mayer also oversaw the rebranding of Norwich Union as Aviva in 2009. whatsapp Thursday 20 January 2011 8:10 pm whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative 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.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.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com High-flying Mayer sent to London center_img 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads Show Comments ▼ KCS-content Tags: NULLlast_img read more

Investors beat tax by using CFDs

first_img Investors beat tax by using CFDs whatsapp HALF of all equities traded in the UK last year were traded as contracts for difference (CFD), as investors looked to evade stamp duty.A total of €1.3 trillion (£1.1 trillion) worth of shares were traded through CFDs, according to data compiled by US research house Tabb Group.CFD, a form of equity derivative that allows investors to speculate on share price movements without the need for ownership of the underlying shares, do not incur stamp duty as an attractive alternative to cash equity.The new research found that 35 per cent of the €3.9 trillion exchanged in equities in the UK last year across all products could be written off, due to reprints of already-conducted trades artificially boosting the figure, putting the true value of executable shares at €2.5bn.The Tabb research also found trading in dark pools was higher in the UK than it was across Europe as a whole last year.It found trading in broker crossing systems (BCS), electronic off-exchange trading platforms, accounted for eight per cent of executible liquity last year.Europe-wide data provided by Thomson Reuters showed that trading in dark pools, including BCS activity, ran at around four per cent of overall market activity in December last year. Tags: NULL whatsapp Sunday 23 January 2011 10:33 pm KCS-content Share 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼last_img read more

F&C fights back at Sherborne as sees assets rise

first_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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof UNDER FIRE F&C Asset Management delivered a blow in the fight to suppress rebel shareholder Sherborne Investors yesterday, after it posted increased assets under management (AUM).The firm’s board said strong net inflows last year showed its strategy to steer the company away from years of underperformance was working.F&C increased AUM to £105.8bn at the end of last year, compared to £97.8bn the year before, with net business inflows of £3.7bn over 2010 after four years of net outflows.Chairman of F&C Nick MacAndrew, who has faced calls from Sherborne to step down, said the rebel shareholder had “contributed nothing” to any of the company’s progress.He said: “Sherborne is simply looking to benefit from the hard work the current board and F&C staff have done to improve the group’s performance and create value for all shareholders.”Investors will decide next week in an extraordinary general meeting vote, tabled by Sherborne, whether to replace MacAndrew and director Brian Larcombe with the activist investor’s representatives.Sherborne said yesterday it was “fully aligned” with the interests of all F&C shareholders. KCS-content whatsapp Show Comments ▼ Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe 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 TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads whatsapp Tags: NULL F&C fights back at Sherborne as sees assets rise Tuesday 25 January 2011 9:05 pmlast_img read more