Posted on Leave a comment

Icap’s new system hits €10bn

first_img whatsapp whatsapp Show Comments ▼ INTER-DEALER broker Icap notched up interest rate swap (IRS) trades with a nominal value of over €10bn (£8.36bn) in the first week of trading on its electronic market.The figure represented 15 per cent of the total number of Euro IRS trades passing through the firm’s order book over the week, with 13 major banks already signed up to the system, chief executive Michael Spencer said.“By using our technology banks are able to execute trades that they would not previously have been able to match,” he added. “We expect that the volume of business will continue to grow as more banks are connected and more streaming prices are added to the platform.”Icap expects to have around 24 banks on board with the electronic system before the end of the year.It has developed the market in response to calls from regulators to improve transparency in the over-the-counter (OTC) derivatives area in the wake of the collapse of Lehman Brothers.In June, the US Congress passed its marathon bill detailing reforms to financial regulation, which included tighter rules on trading derivatives, including parking desks trading the riskier types of instruments into subsidies with their own pools of capital.The EU is also lobbying for stricter regulation of the derivatives market, arguing that more instruments should be cleared through central clearing houses to guarantee counterparty payment in the event of a future bank failure. Tags: NULL Tuesday 14 September 2010 8:57 pmcenter_img More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.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.orgConnecticut man dies after crashing Harley into live bearnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com KCS-content Share Icap’s new system hits €10bn Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushUndolast_img read more

Posted on Leave a comment

New Look to raise prices as the cost of cotton rockets

first_img Tags: NULL New Look to raise prices as the cost of cotton rockets KCS-content More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.com whatsapp Show Comments ▼ whatsappcenter_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo BUDGET retailer New Look yesterday warned that its prices would be hiked by up to eight per cent as the cost of cotton continued to surge. The company, which provides cut-price fashions to young shoppers, saw UK sales drop 4.5 per cent in the 26 weeks to 25 September.Chief executive Carl McPhail said price rises were inevitable, but said that the sales fall came against very strong comparative figures for the year before.New Look, which is owned by private equity firm Permira and Apax Partners, postponed a float planned for February after volatile markets saw it pull back.McPhail said: “We are not ruling out a float in the future but we do not have to do it. We have a very strong cash position.”He also said Britain’s second-biggest womenswear retailer by value of sales was gaining market share and its internet business was closing the gap on online specialist ASOS. Meanwhile international sales, which account for about 23 per cent of the total, climbed 2.4 per cent on a like-for-like basis. New Look, which runs over 1,000 stores in Britain and abroad, said in February it had hoped to raise £650m in its planned flotation, to reduce its £1bn of borrowings.But investors were wary of the plan, particularly after department store chain Debenhams returned to the stock market in 2007 laden with debt and saw its shares plunge. Primark earlier this week said that the soaring price of cotton was hitting its margins. Thursday 11 November 2010 7:57 pm Sharelast_img read more

Posted on Leave a comment

Japan jump won’t dent deflation

first_img 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 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 ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Growth in Japan was stronger than expected in the three months to September, it was revealed yesterday. Yet Capital Economics warns that the jump is temporary, predicting that Japan will continue to suffer a prolonged slump. Japanese Consumer Price Index (CPI) figures are expected on Friday, with economists expecting a fall. Tuesday 23 November 2010 8:46 pm whatsapp center_img Japan jump won’t dent deflation KCS-content Show Comments ▼ 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 Tags: NULLlast_img read more

Posted on Leave a comment

King vice chair of EU supervisor

first_img whatsapp More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Bank of England governor Mervyn King was elected first vice chair of the new European Systemic Risk Board (ESRB) that came into force yesterday in a move that may allay UK concerns of being overruled by Europe. The ESRB will monitor potential credit and asset bubbles across the 27-country bloc and recommend action before markets or economies become destabilised, plugging a macro-supervisory gap highlighted by the financial crisis. The board, which will have no binding powers, is hosted by the European Central Bank (ECB) in Frankfurt and will be chaired by ECB President Jean-Claude Trichet, as expected. Thursday 16 December 2010 9:00 pm Tags: NULL KCS-content center_img Share Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach RaiderUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo King vice chair of EU supervisor whatsapplast_img read more

Posted on Leave a comment

FSA pay code throws firms into confusion

first_img Tags: NULL KCS-content Show Comments ▼ FIRMS are scrambling to comply with a raft of new regulations on bonuses after the Financial Services Authority gave some just eight days to adjust to a revised remuneration code brought out on Friday.The FSA was responding to a finalised set of rules published by the Committee of European Banking Supervisors (CEBS) on 10 December. But the FSA’s revised code, which was meant to clarify its interpretation of the new rules, has thrown financial firms into confusion ahead of their coming into effect on 1 January.British Bankers’ Association chief executive Angela Knight told City A.M.: “It has left a lot of worry around the fringes as to whether you’re in or out, and some of that is in the asset management industry.”The FSA said earlier this year that it was expanding coverage of its Remuneration Code to include 2,700 firms, as opposed to 26 previously, but it said on Friday that the rules would apply only to certain kinds of staff – effectively excluding some of the firms, but leaving confusion as to exactly which ones.It has also left it to those affected by the rules to deal with their complex tax implications, saying they “should make their own arrangements to deal with the tax liability that will arise when shares that are still subject to a retention policy vest”.The retention policy refers to CEBS’s requirement that any shares awarded as part of a bonus must be retained – that is, not sold – for a certain period of time. But it is still not clear how individuals should pay the tax on this portion of their bonus and how this will apply in non-EU tax jurisdictions. Firms had argued for more time to comply with the bonus rules, which will affect 2010’s bonus round, to be awarded in January or February. But the FSA decided to apply the rules almost immediately.AT A GLANCE: THE NEW BONUS RULES● SHARES VERSUS CASHAt least 50 per cent of the bonus must be in “non-cash instruments”.● DEFERRALIn addition, at least 50 per cent of the bonus must be deferred over three to five years, with the length of time depending upon the “risk profile” of the job.● RETENTIONOf the proportion paid in shares, recipients will be forced to hold onto the shares for a “retention period” of several years, in order to avoid converting shares straight into cash.● UPFRONT CASHTaken together, the rules mean that no more than 30 per cent of a bonus can be paid in cash upfront, shrinking to 20 per cent for high bonuses.● RATIORegulators have not mandated what proportion of an employee’s pay should be paid in base salary versus bonus, but have said that the ratio should be taken into account if there is cause to examine remuneration procedures.● CLAWBACKContracts will have to include provisions for firms to “claw back” bonuses from those whose decisions are later thought to have caused losses.● SCOPEThe FSA has divided firms into four categories, each with different minimum requirements depending on their “risk profile” and systemic importance. Overall, it has formally extended its Remuneration Code to apply to 2,700 firms next year, but the rules only apply to “code staff” within those firms, effectively exempting many of them.● TIMINGFirms to which the FSA code already applied have only eight days to comply with it; others have until the end of July 2011.● GUARANTEED BONUSESThe FSA has decided to extend the ban on guaranteed bonuses beyond the first year of employment to everyone in a firm and not just “code staff”. Sunday 19 December 2010 10:50 pm center_img whatsapp FSA pay code throws firms into confusion Share whatsapplast_img read more

Posted on Leave a comment

Restaurant Group lifts profit target as it targets new openings to fuel growth

first_imgWednesday 12 January 2011 7:48 pm More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com RESTAURANT Group has forecast full-year profit just ahead of market estimates as better-than-expected trading at its new sites offset the impact of heavy snowfall in the UK.The company, which owns the Garfunkel’s and Frankie & Benny’s chains, said revenue for the 53 weeks to 2 January was seven per cent ahead of 2009, while like-for-like sales fell one per cent.“Turnover for the final part of November and the first four weeks of December was impacted by the unusually harsh weather conditions experienced throughout the UK, although since then trading has been very strong,” the company said.Northern Europe’s big freeze wreaked havoc and disrupted businesses after extreme weather conditions across the continent forced people to stay indoors especially during the important Christmas trading season. The company has had a difficult year after the volcanic ash crisis hit sales in the 40 restaurants it owns in airports. The World Cup also took its toll as football fans ate in pubs rather than restaurants, to watch the games.Restaurant Group, which is targeting 22 to 27 new openings in 2011, said it expected tough economic conditions to continue.Analysts on average expect the company to post a pre-tax profit of £55.2m, on revenue of £465.1m for the year to 31 December. whatsapp Share KCS-content center_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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Show Comments ▼ whatsapp Restaurant Group lifts profit target as it targets new openings to fuel growth Tags: NULLlast_img read more

Posted on Leave a comment

EU property sector lobbying against €100bn regulatory hit

first_img EU property sector lobbying against €100bn regulatory hit whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeStyleVamp10+ Normal People Who Astonishingly Look Like CelebsStyleVampvirimi.com14 Efficient Arm Workouts To Build Might & Muscle – Virimivirimi.comAmoMediaMan Leaves Wife For Her Sister, Her Revenge Is BrilliantAmoMediaadvisor15 Plants that Repel Mosquitoes Naturallyadvisorcutenova.comTake a Peek at 10 of the Most Expensive Houses in the Worldcutenova.comHealth.recetasgetHeart Attack Early Warning Signs and SymptomsHealth.recetasgetDinnerZUTop 5 Foods That Help Lose Weight FastDinnerZU5log – Livinguard®This mask has been sold out in Germany 5 days after the government has tighten up5log – Livinguard®BuzzDestination7 Types of Men Who Are Not Made For RelationshipsBuzzDestination Tags: NULL Friday 14 January 2011 8:10 am whatsappcenter_img EUROPE’S property sector is lobbying regulators not to tighten the rules on interest rate swaps as it faces a possible €100bn (£84bn) hit from being lumped together with speculative investors.The proposed European Market Infrastructure Regulation (EMIR) could devastate property companies, which would need to put up collateral when taking out an interest rate swap to secure a fixed rate for a loan, companies say.“The … sector must now engage with this issue and lobby for an exemption … or face having to fully collateralise their interest rate swaps,” Bill Bartram from risk advisers J.C. Rathbone Associates said at a panel discussion.The rules, currently in the European parliament, would force financial counterparties such as banks and hedge funds to clear interest rate swaps through an external clearing house and not via private negotiation.But it will also hit real estate investment trusts (REITS), which get tax benefits from distributing most of their profits in dividends and are required to hedge risk with a swap when getting a loan.Clearing houses require counterparties to put up collateral, which could be too expensive for the real estate companies, which under the proposed rules also include funds holding real estate directly, and some private companies.Peter Cosmetatos, finance director at the British Property Federation, which represents companies including Land Securities, Hammerson and British Land, said he thought the government shared the property industry’s worries about EMIR.The risks could be alleviated if the regulation explicitly exempted real estate funds and pre-existing contracts, he said.“I think it would be ironic and disastrous if measures that are intended to improve market stability caused serious market instability by imposing a cash requirement on businesses that have just about managed to cope,” he said.The property industry would be hit by an estimated €65bn cash call for collateral on interest rate swaps if the plans do not change, interest rate and currency risk adviser Chatham Financial said in a report in November.Cosmetatos said it was difficult to be precise about how big the interest rate swap market for property was, but figures suggested a range of between €55bn and €100bn. alison.lock Show Comments ▼ More From Our Partners Astounding 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.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Sharelast_img read more

Posted on Leave a comment

CITY MOVES | WHO’S SWITCHING JOBS

first_imgWednesday 26 January 2011 7:10 pm Share More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com whatsapp KCS-content Show Comments ▼center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Innovate Legal Specialist commercial litigation firm Innovate Legal has appointed Samantha McBain as head of its dispute resolution practice. Formerly at Lovells and McDermott Will & Emery, she extends the firm’s strengths in commercial disputes, arbitration and regulatory investigations. The firm has a particular expertise in intellectual property but covers a broad range of disputes both in the UK and internationally.Renaissance Asset ManagersSven Richter has been appointed to the role of managing director, head of frontier markets at Renaissance Asset Managers, the investment management business of the leading emerging markets integrated investment firm Renaissance Group. Richter joins Renaissance from Templeton’s emerging markets group where he gained two decades of experience in working in the fastest-growing markets around the globe.KewillSoftware provider Kewill has appointed David Gibbon at its finance chief, with effect from 27 January 2011. David Gibbon joins from Atex Group where he spent the past five years as finance chief. Prior to working at Atex, David held the same role at Tertio Holdings from 1998 to 2002, during which he managed the financial and legal aspects of the company’s management buyout, backed by Apax and Advent International.Northland Capital PartnersNorthland Capital Partners, the full service investment bank, has appointed Zeg Choudhry as head of sales trading in its London office. Choudhry joins from Piper Jaffray, where he was head of pan-European sales trading. Zeg has also held positions at Evolution Securities and JP Morgan over the past 20 years in sales trading, following five years in market making. CITY MOVES | WHO’S SWITCHING JOBS whatsapp Tags: NULLlast_img read more

Posted on Leave a comment

High street sales growth in slowdown

first_imgThursday 27 January 2011 7:41 pm RETAIL sales for January are up on the same time last year, yet sales growth slowed considerably, according to the Confederation for British Industry (CBI).And consumer confidence has plummeted to a 12 month low, separate data from researchers GfK NOP revealed today.The positive balance of retailers reporting a year-on-year increase in sales dropped from 56 per cent in December to 37 per cent this month, the CBI reported.And retailers anticipate a further slowdown in growth for next month, the CBI said. A balance of 25 per cent expect February’s sales to be greater than those in February 2010.Some analysts even doubted the growth in sales shown in the CBI’s distributive trades survey.“The survey’s balance continues to be well above the long-run average and to report optimism which has not materialised in the official data,” said Simon Hayes of Barclays Capital. “The results have been out of kilter with the far weaker official and British Retail Consortium measures for a few months now,” added Vicky Redwood of Capital Economics.The total volume of sales in December increased by just 2.6 per cent on the previous year – below the rate of inflation – the government’s Office for National Statistics revealed last week.Meanwhile the GfK NOP consumer confidence index dropped eight points this month to -29. “January’s eight point drop represents an astonishing collapse in consumer confidence,” said Nick Moon of GfK NOP social research. “In the 35 years since the index began, confidence has only slumped this much on six occasions,” he said.The government’s second VAT rise in 12 months, combined with rising inflation approaching four per cent, are likely squeezing household finances, analysts said. High street sales growth in slowdown Tags: NULL More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.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.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Show Comments ▼center_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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp KCS-content Share whatsapplast_img read more

Posted on Leave a comment

EFG-Hermes plays down stake in its subsidiary held by Gamal Mubarak

first_img EFG-Hermes plays down stake in its subsidiary held by Gamal Mubarak EGYPTIAN investment bank EFG-Hermes has said that Gamal Mubarak’s stake in the bank was limited to an 18 per cent holding in a subsidiary, EFG Private Equity.Last week opposition Wafd newspaper said Gamal, son of ousted President Hosni Mubarak, had extensive holdings in the investment bank through foreign investment funds.“EFG-Hermes Financial Group Holding stresses that its relationship with Mr Gamal Mubarak is limited only to ownership of around 18 per cent (which is the announced matter) in one of its subsidiary companies, EFG Private Equity,” the bank said in a statement released by the stock exchange.EFG-Hermes Private Equity contributes no more than seven per cent to the group’s total revenue, the statement said, adding that the bank’s relationship with Gamal dated to 1997, before he became involved in politics.EFG-Hermes revenue in 2009 totalled 1bn Egyptian pounds (£106.3m).Gamal Mubarak quit his position as head of the policy secretariat of Egypt’s ruling National Democratic Party on 5 February. He previously worked as an investment banker for Bank of America in Cairo and London. KCS-content Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap Monday 14 February 2011 8:26 pm Share whatsapp Show Comments ▼ whatsapp Tags: NULLlast_img read more