RAB Capital hires a new chief exec

first_imgThursday 2 September 2010 8:35 pm RAB Capital hires a new chief exec RAB CAPITAL has hired Charles Kirwan-Taylor as its new chief executive, replacing Stephen Couttie. Kirwan-Taylor was previously chief investment officer at the firm, having joined in 2008 during the last management shake-up. He becomes the hedge fund’s third boss in less than two years. Couttie has left to pursue interests outside the group, but will continue to assist RAB on an advisory basis, the company said in a statement. Kirwan-Taylor quit his job as chairman of UK corporate broking at Credit Suisse in 2006 to set up Greyshrike Capital, a hedge fund focused on European equities. While at Credit Suisse he advised on several high profile transactions, including the privatisation of Telecom Italia, the flotation of Alstom and the initial public offerings of easyJet and Qinetiq.RAB, which focuses on energy and commodities funds and is also well-known for its failed bet on Northern Rock, reported a loss before tax and exceptional items of £6.9m in 2009. Executive chairman Michael Alen-Buckley said:?“His experience in financial markets and as CIO and head of Risk at RAB mean that he is ideally placed to lead the group in its next phase of development as we focus on delivering out-performing risk-adjusted returns for investors.” 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 Tags: NULL Sharecenter_img whatsapp 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 Farminvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleFolliboost Haircare SerumThinning Hair? Use this For 1 Month and See What HappensFolliboost Haircare SerumFilm OracleHer Love Triangle Inspired 3 Of The Most Popular Songs Ever WrittenFilm Oracle whatsapp Show Comments ▼ KCS-content last_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?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity 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.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Share LCCIThe London Chamber of Commerce and Industry has appointed British Airways boss Willie Walsh as its new president following an election at its annual meeting on Wednesday night.Walsh, 48, will serve for two years, until after the 2012 Olympics in London. He has been chief executive of BA since October 2005, having also previously spent a period at the helm of Irish carrier Aer Lingus.SchrodersThe asset management group has hired Tjeerd Voskamp as a senior relationship director in its global financial institutions group.He joins from Threadneedle Asset Management, where he spent a decade in several senior client-facing roles, with a particular focus on European distribution in Belgium, Holland and Scandinavia. While there, he also launched and headed the firm’s global financial institutions group.RyanairThe airline said yesterday that non-executive Emmanuel Faber has retired from its board of directors after eight years in the role.Ryanair chief executive Michael O’Leary said: “I would like to sincerely thank Emmanuel for his significant contribution to successful growth of Ryanair. He leaves the board with our sincere gratitude and best wishes for the future.”London Capital GroupThe spreadbetting, forex, CFD and broking specialist said yesterday that non-executive Jack Inglis has stepped down with immediate effect to pursue other interests.Inglis, 47, has been on the board since April 2007. He is chief executive of Ferox Capital Management, a London investment management firm specialising in convertible bond-themed funds. Prior to joining Ferox, he spent 15 years at Morgan Stanley.JP MorganPaul Knox has been appointed to lead the bank’s private banking wealth advisory practice for the EMEA region.Knox, formerly head of the bank’s UK wealth advisory practice, joined JP Morgan four years ago. He had 25 years of prior experience at the London bar and with Ernst & Young, where he was responsible for the private client services group in London. whatsapp Tags: NULLcenter_img Thursday 23 September 2010 7:41 pm CITY MOVES | WHO’S SWITCHING JOBS 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 ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof KCS-content Show Comments ▼last_img read more

HEDGIE IAN WACE TAKES CHAIRMAN JOB AT ARK

first_imgSunday 3 October 2010 10:09 pm HEDGIE IAN WACE TAKES CHAIRMAN JOB AT ARK Show Comments ▼ Tags: NULL KCS-content center_img whatsapp Share THE GLAMOROUS world of hedge fund philanthropy had a shuffle at the top over the weekend, as Ian Wace – co-founder of Marshall Wace – took over from hedgie “godfather” Stanley Fink as chairman of Arki Busson’s charity, Absolute Return for Kids (ARK).Wace will now be tasked with the dual responsibilities of overseeing ARK’s work – including its new maternal health programme in Zimbabwe and a rotavirus vaccination programme in Zambia – and raising as much dosh as possible from his moneyed industry colleagues.Top of the latter agenda, of course, is ARK’s annual gala dinner next summer, the most extravagant charity event of the social calendar. This year, the event – held in the old Eurostar terminal at Waterloo for the second year running and featuring a live performance by the Killers – drew the likes of Queen Rania of Jordan, models Eva Herzigova and Sophie Dahl and actor Kevin Spacey to rub shoulders with the financiers present, including GLG co-founder Pierre Lagrange, Moore Capital’s Greg Coffey and Icap boss Michael Spencer.This coming year’s event will need to be doubly special in order to mark ARK’s tenth anniversary – and I hear that a third outing at Waterloo has already been ruled out, leaving Wace to lead the search for an even more unique and spectacular venue. No tall order, then.BABY BOND BOOMAn interesting note pops into The Capitalist’s inbox from Schroders’ senior fixed income portfolio manager David Harris, who reckons that the “baby boomer” generation’s lifestyle preferences are currently heavily influencing the bond market.Apparently, following periods of very loose Fed policy in the past, baby boomers have invested their cheap money heavily into particular asset classes, depending on their age – first goods and services in the late 1970s; then into stocks in the late 1990s; then into housing in the mid-2000s.And now, as they crave stability on the approach to retirement, the boomers are piling into bonds. “Cyclical forces will normally dominate other factors, however the collective force of the boomer investment can keep yields lower for longer than might otherwise be the case,” Harris reasons. Investors, take note.CLEVER CLOGSWannabe City boffins should start putting their heads together now, ahead of the upcoming annual Brain Game, in aid of St John Ambulance.This year’s quiz will be hosted by funnyman David Mitchell, the star of Peep Show, who will lead the teams in eight rounds of questions on topics ranging from history to literature and art. KPMG are the ones to watch, since they triumphed last year at an event which raised £52,000 for charity. (This year’s is on 20 October at the Guildhall and costs £2,010 for a table of ten. For more details email [email protected] MOVIE STARIt’s been a busy time over the past couple of weeks for business-related Hollywood film ventures, and this weekend was no exception, with the debut of “The Social Network”, following the story of billionaire Facebook founder Mark Zuckerberg.The movie raked in $23m over its opening weekend, according to preliminary estimates yesterday – earning it the number one spot at the US and Canadian box office. For comparison, that’s quite a bit stronger than the opening of the second Wall Street film, “Money Never Sleeps”, which took $19m last weekend in the highest grossing debut weekend of director Oliver Stone’s career.This week, Wall Street 2 was pushed in rather undignified fashion into third place, with $10.1m, by “Legend of the Guardians: The Owls of Ga’Hoole” – a good-vs-evil family romp featuring scores of wide-eyed owl soldiers. whatsapplast_img read more

Bus and train gains push up profits at FirstGroup

first_img 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 CenterGloriousaCouple Wins Lottery, 5 Years Later, Their House Had To Be DemolishedGloriousa Wednesday 3 November 2010 9:32 pm KCS-content Bus and train gains push up profits at FirstGroup Share Show Comments ▼ whatsappcenter_img Tags: NULL whatsapp TRANSPORT company FirstGroup credited a surge in passengers and tighter cost control for its 14.3 per cent rise in underlying profit for the first half of the year yesterday. The group’s pre-tax profit nearly trebled to £82m, while profit from continuing operations gained more than 14 per cent to £77.7m during the six months to October. The firm used its cashflow and favourable currency rates to pay down 7.7 per cent of its debt pile, which now stands at £2.19bn, and raise its dividend seven per cent to 7.12p. “We have exceeded our goal for cash generation and we have increased our target for the year from £150m to £180m, and most importantly this is excluding business disposal proceeds,” said chief executive Tim O’Toole, who replaced founder Moir Lockhead on 1 November. “We were still able to deliver despite challenging conditions.”Rail operations, which include the First Capital Connect and First Great Western lines, gained 4.4 per cent in passenger revenues.UK bus operations, which carry 3m passengers a day, saw revenue rise by 1.3 per cent. However, revenue fell 0.9 per cent at the group’s US school bus business, First Student. First Transit, which provides outsourced transit services in the US, enjoyed a 5.5 per cent rise in revenue. 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 last_img read more

Stupid policies have destroyed Eire

first_img Share IT is starting to look truly grim for Ireland, which is moving ever closer to the abyss. An article yesterday by Morgan Kelly, a professor of economics at University College, Dublin, added fuel to the fire. By next year Ireland will have run out of cash, Kelly claimed, and the terms of a formal bailout will have to be agreed. This view – that Ireland is already insolvent – is fast gaining converts; no wonder Germany is so keen to introduce European treaty changes to safeguard its taxpayers. It is hard to be optimistic. Nominal (or cash) GDP is down by about a fifth since the peak; part of this is due to a large slump in real output and partly to a nasty bout of deflation (prices fell an astonishing 6.6 per cent in the year to October 2009, though they have risen since). The debt burden, for the state as well as individuals, therefore automatically shot up. Even though wages have declined (increasing debt to earnings ratios), the number of employees has collapsed nearly 13 per cent. In the UK, that would be akin to the workforce having fallen by 3.8m, a depression-style outcome.Ireland’s first error was to join the euro; its second was to guarantee all bank creditors. These two errors have destroyed the country. Joining the euro led to an immediate halving in interest rates and a surge in growth and inflation – had Ireland retained an independent monetary policy, its currency would have soared and it would have jacked up interest rates. Plenty of countries have suffered a property bust – only some have been bankrupted as a result. Not all were euro members, of course, but those peripheral economies that did join are all now in terminal crisis. Andrew Lilico of Policy Exchange, one of London’s most interesting economists, has been arguing for years that Ireland’s dalliance with the euro would end in disaster. He wrote an eerily accurate piece in 2001 in the European Journal. Even though it was running a budget surplus at the time, Ireland was forced to hike taxes in a vain bid to calm down its overheating economy; it could no longer use monetary policy. After that, the die was set: encouraged by ultra-low European interest rates, the banks lent (recycling vast foreign capital inflows), house prices boomed, the construction industry surged and foreign workers moved in (reversing Ireland’s history of net emigration). Nervousness eventually crept in, prior to the US sub-prime crisis. House prices slowed at a time when oil prices were still rising and the Irish recession commenced. The European Central Bank – preoccupied with the rest of the Eurozone – hiked rates, Irish house prices crashed, credit inflows reversed and banks started to go sour. Eventually, the rest of the world entered recession. The crisis turned into a catastrophe on 29 September 2008, Lilico argues. That was when Ireland rendered itself insolvent, in a ridiculous attempt to bluff markets, by providing a blanket guarantee to all bank creditors (not just depositors). The aim was to attract capital from the UK but the guarantee was unaffordable, given the banks’ vast liabilities; Ireland’s refusal to allow bondholders to lose money forced a succession of bailouts. Ireland thus became a fully-owned subsidiary of an ECB/German Treasury joint venture, its independence a sham. If German taxpayers or the Irish public ever tire of this arrangement, bankruptcy will be inevitable. What a [email protected] Monday 8 November 2010 9:57 pm whatsapp Show Comments ▼ whatsapp 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}MoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory Stupid policies have destroyed Eire Tags: NULLlast_img read more

EU agrees new regime to police rating agencies

first_img Tags: NULL alison.lock Show Comments ▼ whatsapp THE EUROPEAN Union has agreed to give a new EU watchdog powers to probe and fine credit rating agencies from January in the latest move to clamp down on the sector.The agreement was reached by representatives of EU states and the European Parliament late on Wednesday and is expected to be formally approved by both sides later this month.It paves the way for a new regime to control credit rating agencies, giving powers to a new European policing agency which may be beefed up as Brussels prepares to further tighten controls on raters next year.Europe’s politicians, nervous that further downgrades could knock unsteady markets, have been openly critical of the credit raters.In October, executives including Moody’s chief Michel Madelain and S&P’s President Deven Sharma were summoned for a grilling before finance ministers. The European Commission has told the agencies to watch their step when judging a country’s financial health, saying it will probe their work, and the Belgian Finance Minister even called for fines if rating agencies make the wrong call.Under the deal, Brussels’ lawmakers dropped plans for now to force rating agencies to share information with rivals on a protected website in the hope that this could spawn fresh competition. EU states opposed the plans.Under the new rules, ratings agencies will be required to register with the European watchdog to be set up early next year.As well as getting the power to levy multi-million euro fines, the European Securities and Markets Authority will also have the muscle to launch raids on an agency’s premises and levy a fine equivalent to 20 per cent of an agency’s turnover.The EU watchdog will not be able to question a downgrade, but could object to the way it was arrived at, by challenging whether or not analysts considered all relevant factors.Although the new body, which is controlled by EU country supervisors, may resist pressure from European capitals, the ratings industry fears political interference as it prepares applications for registration to work in Europe.Michel Barnier, Europe’s top official in charge of financial reform, is also considering the creation of an EU rating agency to challenge the dominance of S&P, Moody’s Corp. and Fitch Ratings.S&P and Moody’s are based in the United States. Fitch, though owned by Fimalac of France, is perceived by some to have strong U.S. links, with its chief executive based in New York.Just as Washington has done, Barnier wants to dismantle rules that use credit ratings to determine how much regulatory capital a bank needs to set aside to cover lending risks.Independent experts have derided his attempts to control the sector or “break the thermometer” as misguided. whatsapp Share EU agrees new regime to police rating agencies 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 A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoam Thursday 2 December 2010 11:25 amlast_img read more

BA bids to quash ruling on Hong Kong cabin crew

first_img Tags: NULL BA bids to quash ruling on Hong Kong cabin crew 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 PastSerendipity 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’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Share Show Comments ▼ BRITISH Airways will this week attempt to overturn a court ruling preventing it from making its Hong Kong-based female cabin crew retire at the age of 45 without a pension.BA is asking the Court of Appeal to quash an earlier ruling that it must apply UK anti-discrimination law to its international cabin crew.In January, the Employment Appeals Tribunal (EAT) upheld an Employment Tribunal 2008 decision that BA was wrong to claim the women’s Hong Kong nationality exempted them from UK law.The case, affecting 24 staff, is due to take place at the Court of Appeal later this week.Trade union Unite, which is representing the cabin crew, called BA’s stance “a stain on the reputation of a leading and iconic British company.”BA said: ”All the claimants are former BA cabin crew who lived and worked in Hong Kong and (were) employed under Hong Kong law.” Tuesday 7 December 2010 8:11 pmcenter_img KCS-content whatsapp whatsapp Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Prooflast_img read more

More Lib Dems exposed

first_img Show Comments ▼ FURTHER lurid comments emerged from Liberal Democrat ministers’ secretly-taped conversations yesterday. Ministers criticised Prime Minister David Cameron and chancellor George Osborne’s privileged backgrounds and described them as untrustworthy, new exerpts from conversations with undercover Telegraph reporters revealed.Deputy leader of the House David Heath, said Osborne had “a capacity to get up one’s nose” and had “no experience of how ordinary people live,” while local government minister Andrew Stunell said he did not know where the Prime Minister stood on the “sincerity monitor”.“I don’t want you to trust David Cameron,” care minister Paul Burstow said. The revelations were the third day of embarrassment for the government after comments from Vince Cable threatening to bring down the coalition were published. KCS-content More Lib Dems exposed Wednesday 22 December 2010 8:48 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKansas coach fired for using N-word toward Black playerthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.com Share Tags: NULL whatsapp whatsapplast_img read more

Fears over government loan targets

first_img KCS-content THERE were growing fears over government plans to boost bank lending last night, after Santander said it might not participate in any deal as critics warned overly-ambitious targets could backfire. The government is locked in talks with Britain’s five biggest banks over plans to impose business lending targets for this year, as part of a peace deal that will see the coalition resist calls to crack down on bonuses. Sources close to the talks say the Treasury wants banks to lend around 10 per cent more to firms than in 2010, when £180bn of loans were granted. But last night, a spokesman for Santander told City A.M. the bank had “yet to decide on the nature of [its] participation in any collective initiative”.The compromise deal is less attractive to Santander, which is predominantly a retail bank and therefore pays very few large bonuses to its UK-based staff. Meanwhile, critics said that if the targets were set too high they could cause another credit bubble that would derail the economic recovery. Barclays boss Bob Diamond warned against forcing banks to lend to firms that could fall into financial difficulties. “No bank should ever make a specific commitment to how much they are going to lend without looking at the creditworthiness of the borrower. That’s how the UK banks, the Bank of Scotland and others, got into trouble.” A source close to Barclays yesterday said the bank was willing to make more money available to lend this year but that it would not hit government targets unless there was enough demand from high-quality borrowers.Another senior banker told City A.M. “Our lending policies might be a little cautious at the moment, but that doesn’t mean we should be lending money on any other basis than that there is a good business case for it. If we go down the road of lending targets we risk taking decisions that will come back to haunt us.”Alistair Milne of Cass Business school said: “No one in Whitehall can say ‘there are X billion profitable business loans to be made.’ And it might even create repayment problems.” Tuesday 11 January 2011 9:16 pm whatsapp 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 Fears over government loan targets center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealthyTed Health Magazine10 Surprising Benefits of Bananas You Possibly Didn’t Know AboutHealthyTed Health MagazineAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsElvenarIf You Need to Kill Time on Your Computer, this Fantasy Game is a Must-Have. No Install.ElvenarAll Things Auto | Search AdsNew Acura’s Finally On SaleAll Things Auto | Search AdsPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryBest Selling Grills | Search AdsTraeger Blaze & American Grills On SaleBest Selling Grills | Search AdsHero WarsBig Boss of internet games!Hero WarsTotal Battle – Tactical Game OnlineThis Game Can Train Your Brain To Think StrategicallyTotal Battle – Tactical Game OnlineThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save ThousandsThe No Cost Solar Program Tags: NULL Show Comments ▼ whatsapp Sharelast_img read more

Yuan to be traded freely in US

first_imgWednesday 12 January 2011 7:29 pm whatsapp 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 ▼ Yuan to be traded freely in US Sharecenter_img KCS-content Americans will soon be able to freely trade the Chinese yuan, after a bank owned by the Chinese state announced it would be allowed for the first time. And the move is just one step towards full freeing up of controls on the currency, according to a spokesman from the Bank of China. 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 AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp Tags: NULLlast_img read more