Ex-Lehman boss could be charged

first_img Tags: NULL Show Comments ▼ Share FORMER Lehman Brothers chief Dick Fuld could face civil charges as early as this week in connection with the firm’s collapse.The US Securities and Exchange Commission (SEC) is understood to be organising a series of meetings with big players involved with the bank before its demise almost two years ago, according to reports in the US by Fox News.It is understood investigators are especially interested in Lehman’s use of controversial accounting practice Repo 105, which can be used to artificially shore up a company’s balance sheet. It is also eager to discover whether executives were responsible for misleading the market about the strength of Lehman’s assets and capital position in the weeks before its collapse. An SEC spokesman told City A.M.: “We cannot confirm or deny any ongoing investigations.”Fuld’s attorney Patricia Hynd, of law firm Allen & Overy, was unavailable for comment last night.The Lehman boss, nicknamed “the Gorilla” for his aggressive manner, was questioned extensively in the wake of the collapse, which sent shockwaves around the world and was blamed for exacerbating the financial crisis. Six months after the crash he is understood to have told Lehman staff: “I spent too much time out of the office with clients and trusted other people to manage the risk. I’m sorry.” whatsapp Tuesday 17 August 2010 8:29 pmcenter_img KCS-content Ex-Lehman boss could be charged Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndo Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapplast_img read more

EBS bidders want guarantees

first_img Show Comments ▼ whatsapp Tags: NULL More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com whatsapp EBS bidders want guarantees Sharecenter_img Sunday 22 August 2010 9:54 pm KCS-content Private equity groups looking to take a majority stake in Irish building society EBS are to seek assurances from the Irish government that it will help bear any future exceptional losses. The state-run group received bids from private equity groups JC Flowers, Doughty Hanson and Cardinal Asset Management, and bancassurer Irish Life & Permanent this week as it seeks to shore up its capital base following a property market collapse. The private equity firms are all seeking downside risk protection clauses as part of any deal. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvdlast_img read more

Morrisons eyes move into online grocery

first_imgThursday 9 September 2010 2:23 am Morrsisons new chief executive Dalton Philips, Chief Executive, said of the results for the six months to August: “Over the last six months I have spent time getting to know this great business and its people. Three observations stand out: “Morrisons is a world class retailer; it has real and positive differences in its fresh offer, food production and craft skills; and there are many opportunities ahead to drive our top line, increase efficiencies in the business and to capture growth.” Show Comments ▼ John Dunne Supermarket giant Morrisons has reported pre-tax profit of £412m for the first half – as it confirmed that it was considering a move into online retail.The profit was eight per cent down on the same period last year, but in line with forecasts.Underlying profit was up taking into account a one-off payment in the same period last time.The company said it had served a record average of customers per week over the period while like-for-like sales – excluding VAT and fuel – were up 0.9 per cent.Revenues were £8.1bn from £7.5bn, a rise of nine per cent.Meanwhile it reported that the interim dividend was up 14 per cent to 1.23p.The company said it was assessing a possible move into online groceries. Tags: NULLcenter_img Share Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’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 ProofTortilla Mango Cups: Recipes Worth CookingFamily 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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof whatsapp Morrisons eyes move into online grocery whatsapplast_img read more

BEST OF THE BROKERS

first_img BEST OF THE BROKERS KCS-content More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com whatsapp Monday 13 September 2010 7:34 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsElite 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 HeraldTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushcenter_img Tags: NULL Share whatsapp Show Comments ▼ THORNTONSFinnCap reiterates its “sell” rating on Thorntons saying its recent results marked the latest in a disappointing run for the chocolate firm. It believes long term success depends on the business successfully rebalancing the business away from its retail stores towards other commercial sales. It adds this strategy is unproven.DE LA RUEEvolution Securities rates the money printer “neutral” with a target price of 670p. The broker says the recent problems with paper production are “a huge embarrassment” that will hit first-half profits by at least £35m. Evo says uncertainty continues to hold back the price, though stock will eventually return to “pre-Papergate levels”.WHITBREADExecution Noble has begun coverage on the owner of Premier Inn and Costa with a “buy” rating and a fair value target of £17.80. The broker predicts earnings per share of 414p in 2011, around seven per cent ahead of consensus estimates, and says even the group’s weaker pub restaurants arm has scope for growth. last_img read more

Visa pushes new mobile phone payment systems

first_img 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 ScottsdaleMoneyPailBrilliant TravelerHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeBrilliant TravelerNoteabley25 Funny Notes Written By StrangersNoteableyThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp whatsapp Share Visa pushes new mobile phone payment systems Sunday 19 September 2010 10:13 pm VISA will roll out a network that will allow its customers to pay for goods using their mobile phones in time for the 2012 Olympics. The world’s biggest payment processing firm hopes the new technology will allow it to corner the small transactions market, which is still dominated by cash purchases.The firm believes the technology has the potential to provide a lucrative new revenue stream by attracting millions of new customers. Visa has 1.7bn users worldwide but this is dwarfed by the 4.7bn people who use mobile phones. By 2015, 3.5bn people will be regular mobile internet users.Visa is expected to have a fully developed network available by 2015, but it says it will use the London Olympics as a showcase for the new technology.Firms including Caffe Nero, Pret A Manger and Burger King,which rely heavily on small payments of £5 and under, have confirmed they will take part, with payment points already visible in some stores. However, the firm acknowledges that getting major supermarkets on board will be vital for the long-term success of the scheme. The technology allows users to link up to six accounts – including banks, oyster cards and loyalty schemes – to their mobile phone. This can then be used at point of sale, allowing users to bypass their cards altogether.It can also facilitate bank transfers, peer-to-peer transfers, mobile web payments and let users keep track of their account balance and expenditure. This places the technology firmly in competition with online payment firms such as PayPal and Google Checkout and could open up a fierce battle for control of the mobile payment market. Users can also opt to use the service pay-as-you-go, in much the same way as a mobile phone, topping up and spending a fixed amount. Payments of under £15 can be swiped through in the same way as an Oyster card without the need for a pin, meaning transactions take seconds to process. Anything more requires a pin which is typed into the phone. It is powered by a special chip, embedded inside the phone, with a built-in antenna to transmit data to merchants. As well as adding security – the chip and the phone are linked, meaning it cannot be removed by fraudsters – this means payments can be made even when the phone is out of battery or reception.This is not the first time this type of payment scheme has been mooted – Visa failed to attract much interest several years ago – but Mary Carol Harris, head of mobile at Visa Europe, believes the market has developed sufficiently to make it viable. She said: “The roll out of 3G and 4G networks will create the reliability this needs. There has been a rapid shift in demand for mobile payments. People are not going to just throw away plastic but this adds an option for them.”Sandra Alzetta, head of Innovation at Visa Europe, added: “You’re not going to wake up tomorrow morning and find millions of mobile phones supporting this – but it will happen. This is a great opportunity to grow the Visa business.”Visa has almost completed a trial of the contactless payment scheme in the Spanish town of Sitges. City A.M. was invited over to see what all the fuss was about. Visa has supplied 500 retailers with payment readers and let 1,500 locals loose with it, linking it to their bank accounts. The firm claims to have had an approval rating of 77 per cent. Crucially, during the test-scheme around a third of the payments were less than £5 – the key bracket for Visa. The first thing I noticed was the handset itself. It is a mid-range Samsung, technically a smartphone but certainly nothing for an iPhone or BlackBerry user to get excited about. I used the pay-as-you-go service, with €50 pre-loaded onto the phone. Using the service was remarkably easy. The retailer keyed in the amount and, after briefly placing the mobile on the reader and tapping in my pin (as the transaction was over €20), we were finished. If I can get it inside my BlackBerry, I’ll be joining the ranks too. KCS-content Show Comments ▼ Tags: NULLlast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_imgSunday 24 October 2010 10:29 pm Clifford ChanceThe law firm has appointed Thomas Vinje, pictured, and Oliver Bretz to take over the leadership of its global antitrust group.Vinje, based in Brussels, will be chair of the group. He joined Clifford Chance as a partner in 2004 and specialises in EU competition and intellectual property law.Bretz, the group’s new managing partner, was recently appointed as Clifford Chance’s head of public policy in the EU. He joined in 2002.BloomsburyThe publishing group has hired Ian Cormack, a respected City veteran, as a new non-executive director, effective from January 2011.Cormack replaces Mike Mayer on the board. He formerly worked in international and UK roles at the likes of AIG, Citigroup and Citibank, and was also a member of the chancellor’s City Advisory Panel.He currently chairs Maven Income & Company VCT4 and is a director at Phoenix Group Holdings and the Qatar Financial Centre.BaringsThe investment manager has opened a representative office in Dubai, headed up by head of sales and business development Nisarg Trivedi.Trivedi joins from the Bank Muscat Asset Management sales team, where he was responsible for growing the distribution network across retail and institutional channels in Dubai. He was also previously manager of sales and distribution at HDFC Asset Management.Deutsche BankThe bank’s private wealth management division has appointed Arunrat Bovornvirakit and Elizabeth Lee as directors and team heads, responsible for clients in Thailand and Singapore respectively. Both join from Coutts, the private banking arm of RBS. The firm also named Bernard Wan, formerly at DBS Private Bank, as director and senior investment advisor.UbitracThe mobile technology company, founded by Wayne Lochner and chaired by insurance industry veteran Alistair Troughton, has appointed Derek Tullett to its board.Tullett is best known for founding money broker Tullett & Riley in 1971. The firm subsequently changed ownership several times before re-emerging in its current guise, as Tullett Prebon. Tags: NULL whatsapp More From Our Partners Native 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.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Show Comments ▼ whatsappcenter_img KCS-content 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 A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Share CITY MOVES | WHO’S SWITCHING JOBS last_img read more

Greece’s 2009 deficit is revised up for third time

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity 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.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Greece’s 2009 deficit is revised up for third time KCS-content whatsapp Show Comments ▼ Share whatsappcenter_img Tags: NULL THE EU’s statistics agency Eurostat revised Greece’s 2009 deficit upwards for a third time yesterday, to 15.4 percent of gross domestic product (GDP) compared with a previous 13.6 per cent estimate.Greece’s finance ministry said it would still manage to bring the shortfall below the e]urozone’s three per cent of GDP ceiling in 2014, despite the revision, starting with a 6-point cut this year to 9.4 per cent of GDP.Greece’s debt, however, is now seen swelling to 144 per cent of GDP this year from 126.8 per cent of GDP in 2009. Under previous estimates published last month in the country’s 2011 draft budget, the debt figure was supposed to rise to 133 per cent of GDP this year from 115 per cent of GDP in 2009.The revised figures suggest that Greece will find it hard to avoid a debt restructuring, some analysts said.Greek Prime Minister George Papandreou said Germany’s insistence on a future mechanism for banks and bond markets to share the pain of any euro zone sovereign debt default from 2013 could break some EU economies.“This could break backs. This could force economies towards bankruptcy”, Papandreou said during a visit to Paris.Bond yield spreads of deficit-ridden nations such as Greece, Ireland and Portugal have soared since German Chancellor Angela Merkel last month kicked off a debate about a debt restructuring mechanism for troubled Eurozone nations, although EU finance ministers have since said it would not apply to existing bonds.“It created a spiral of higher interest rates for countries that seemed to be in a difficult position, such as Ireland or Portugal,” Papandreou said. “This could create a self-fulfilling prophecy.”While worries increased in the eurozone countries, EU and IMF officials arrived in Athens for an inspection visit of the country’s finances yesterday. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Monday 15 November 2010 8:19 pmlast_img read more

Osborne: We will help our friend in need

first_imgMonday 22 November 2010 8:11 pm 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 PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity 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: NULL whatsapp THE chancellor yesterday said Ireland was a “friend in need” that Britain would support, likely with a direct loan that will run into billions of euros. George Osborne said the loan would probably be in the “billions, not tens of billions”, but declined to give any further details of the package being discussed.Britain will not charge Ireland a “punitive” rate of interest, Osborne said. “We are not seeking to make a buck out of this. We are looking to help a friend in need,” he added. Any bilateral loan would come on top of Britain’s contribution to the €60bn European Financial Stability Mechanism (EFSM), which former chancellor Alistair Darling signed up to in May.However, aides to the chancellor told City A.M. that Britain would cap its overall contribution at around £7bn. If it has to pay more than expected into the EFSM, it will reduce the bilateral loan accordingly, they said. Meanwhile, Osborne said he would oppose any attempts to top up the EFSM to “make good” on the bailout package that has been promised to Ireland, and confirmed the UK would not sign up to any future Eurozone bailout initiatives. Britain is not a contributor to the much-larger €440bn European Financial Stability Facility. Despite dissent on virtually all sides of the House of Commons, Osborne staunchly defended his decision to help Ireland.He said: “We have strong economic relations with Ireland. Ireland accounts for five per cent of Britain’s total exports abroad. Indeed we export more to Ireland than to Brazil, Russia, India and China put together.” KCS-content Sharecenter_img whatsapp Show Comments ▼ 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 Osborne: We will help our friend in need last_img read more

FRESH HOPE FOR PONTIN’S

first_imgWednesday 5 January 2011 7:48 pm Show Comments ▼ 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 AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com UK HOLIDAY camp firm Pontin’s has attracted ten offer approaches since going into administration, accountants KPMG said yesterday. KPMG, appointed as administrators in November, said the majority of the offers were from parties keen to continue operating the business as a going concern. But in a blow to unsecured creditors, KMPG said there would be insufficient funds from the sale to pay them the £3.6m owed. KCS-content Sharecenter_img More From Our Partners Fort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.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.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.com whatsapp FRESH HOPE FOR PONTIN’S Tags: NULLlast_img read more

OFT to probe Thomas Cook and Co-op merger

first_imgFriday 7 January 2011 3:10 am 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 ▼ Tags: NULL The Office of Fair Trading (OFT) is to probe a move by Thomas Cook and the Co-operative Group to merge their High Street travel businesses.The European Commission had studied the deal but decided the OFT was better placed to investigate because the merger would only affect UK business.Thomas Cook said it would “continue to work closely with the OFT to obtain a rapid clearance”. whatsapp whatsappcenter_img Share John Dunne OFT to probe Thomas Cook and Co-op merger More From Our Partners Native 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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comlast_img read more