Barclays share price rises as it sets aside £500m to pay regulators over foreign exchange probe

first_imgThursday 30 October 2014 3:21 am Tags: Barclays Company Billy Ehrenberg whatsapp Barclays share price rises as it sets aside £500m to pay regulators over foreign exchange probe whatsappcenter_img Share Are Barclays’ regulatory woes about to reach a conclusion? Investors seemed confident this morning – the bank’s share price opened 1.6 per cent higher as it revealed it has put aside £500m in the face of ongoing investigations into Foreign Exchange practices.Barclays is not the only bank to have made such provisions: HSBC and RBS are also among the forex dealers at the centre of an investigation by 15 global regulators which are setting aside funds. The total between the three could reach £1bn. Regulators are investigating claims that traders from around 10 banks rigged exchange rates for financial gain.Meanwhile Barclays also said profits for the nine months to 30 September jumped 31 per cent, hitting £3.7bn. The adjusted figure was up five per cent to £4.9bn. Chief executive Antony Jenkins said:These results, with a 5 per cent increase in profits before tax, show further steady progress towards our Transform financial commitments for 2016, and demonstrate how our strategic decision to rebalance Barclays has created greater resilience in the Group.Our Core businesses – the future of Barclays – have delivered an ROE of 10.5 per cent, driven by our powerhouse Personal and Corporate Banking business and continued strong growth in Barclaycard.The bank has been the subject of heavy cost-cutting since Jenkins took over from former chief executive Bob Diamond. In May, Barclays announced plans to slash the size of its investment bank. Show Comments ▼last_img read more

“Big four” banks’ small business lending placed under official investigation by the Competition and Markets Authority

first_img whatsapp “Big four” banks’ small business lending placed under official investigation by the Competition and Markets Authority Joe Hall Thursday 6 November 2014 5:52 am Britain’s biggest banks are to be thrust under the microscope by a watchdog launching an in-depth investigation into personal current accounts and small business lending. The Competition and Markets Authority (CMA) believes the UK retail banking sector is failing its customers through a “crippling lack of competition and transparency”. HSBC, Barclays, Lloyds Banking Group, The Royal Bank of Scotland and Santander – often referred to as “the big four” – account for over 77 per cent of the market according to the CMA, which adds that there are barriers to entry and expansion for smaller banks. Earlier this year Ed Miliband promised to “dismantle the big four” and force them to sell branches to at least two new challenger banks. Miliband said in January: “We need a reckoning with our banks, not for retribution but for reform to tackle the cost of living crisis in this country.” The CMA’s investigation will last 18 months. Today’s announcement comes after a period of consultation in which it sought responses to the investigation originally proposed in July. Most respondents agreed there should be an investigation, a CMA statement said. CMA chief executive Alex Chisholm added: Effective competition in retail banking is critically important for individual bank customers, small and medium-sized businesses, and the wider economy. After carefully considering the consultation responses, most of which supported a market investigation, we remain of the view that there should be a full market investigation into the sector, conducted by a Market Reference Group drawn from the CMA’s expert panel of independent CMA members.  The investigation will be welcomed by a number of challenger banks such as Virgin Money, TSB and Aldermore. CEO of TSB, Paul Pester, said: Consumers have been crying out for a root and branch investigation like this for years and we have previously said the CMA would be uniquely placed to carry out this complete review of the market.  The Big Four banks have had a stranglehold on the market for far too long. TSB was established to bring competition to the UK and with our full ‘bricks and clicks’ capability, we are already having an impact as the challenger with the sharpest teeth.  Customers are voting with their feet – with one in every 10 opening a new bank account choosing TSB. TSB believes the CMA investigation should focus on achieving greater transparency in banking along with more choice and competition, so consumers get a better deal.   Tags: NULL Share Show Comments ▼ whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.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.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comlast_img read more

Virgin Money IPO boosted

first_img Emma Haslett whatsapp BANKERS working on the flotation of Virgin Money are likely to exercise their “greenshoe” option when it floats later this month.A source close to the deal said enthusiasm from investors meant the company would sell an extra tranche of shares on top of the initial stake, thought to be 25 per cent, it had been planning to list. The bank is planning to float at around a 283p to 333p range, valuing the firm at £1.25bn to £1.45bn. whatsapp Tags: NULL More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPost FunGreat Songs That Artists Are Now Embarrassed OfPost FunYahoo! SearchSearch For Car Donation For CharitiesYahoo! SearchMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.com Thursday 6 November 2014 8:51 pm Share Virgin Money IPO boosted Show Comments ▼last_img read more

Snapchat moves into mobile banking with the launch of Snapcash: Who will be its rivals?

first_img More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comColin Kaepernick to publish book on abolishing the policethegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKansas coach fired for using N-word toward Black playerthegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Share whatsapp whatsapp Jessica Morris Tags: NULL Whatsapp has announced its move into mobile payments, enabling users to transfer cash to one another at the hit of a button.It’s latest foray into the emerging mobile payments could one day pit it against the likes of Facebook, Twitter, Google and Apple. That’s not to mention leading credit card companies who already have an established foothold here. So who will be Snapcash’s main competitors?Twitter:Twitter allows users in France to tweet payments to one another, according to the Financial Times. S-Money, a payment division of one of France’s largest banks, is said to be behind the deal. Additionally, in September, Twitter introduced a ‘buy’ button for some of its users. This allows them to purchased products and services directly from their Twitter feed.Facebook:In October, media reports bubbled with speculation that Facebook was working on a mobile payments service.Stanford university computer science major Andrew Aude used a software hack to reveal the social network’s unpublished code. He found that the Facebook team were working on a project that would eventually allow users link their debit cards to their accounts and send money to eachother.This followed a series of hints dropped by the social media giant. One a previous earnings call Mark Zuckenburg told reporters that the company was working on payments, and they recently hired the former President of Paypal.Apple:Google: Snapchat moves into mobile banking with the launch of Snapcash: Who will be its rivals? Tuesday 18 November 2014 10:32 am Show Comments ▼last_img read more

AO World revenue rises 25 per cent on improved website sales

first_img AO World revenue rises 25 per cent on improved website sales Online white goods retailer AO World said total revenue rose 25.1 per cent to £384.9m in the six months to September 30.The retailer, which launched its IPO in February, said website sales increase by 38.6 per cent during this period to £173.7m. This was offset slightly by third-party website sales, which fell 11 per cent, as the company continued to focus on AO.com. However, its pre-tax profit took a hit, falling to £779,000 from £2.1m a year earlier, largely due to the set-up costs of its earlier-than-anticipated entry into the German market.John Roberts, chief executive officer, said:The UK growth was delivered at the same time as management resource was also focused on launching our proposition in Germany, which we achieved in October some six months earlier than promised. This launch has given us confidence in our ability to replicate our model overseas.While this accelerated investment has brought forward our associated set-up costs for the period, our focus is on the long-term as we proceed with our strategy to deliver a market-leading proposition  in new categories and countries.  Although Germany has only been operating a number of weeks, we are delighted with the way our culture has transferred, with the way it’s operating and with the way sales are building. Trading for the second half of this financial year has started well.The stock has had a choppy year, along with other tech stocks in London and the US, on fears that a bubble was forming in the industry. Having floated at 400p in February, stock has since fallen to about 214p. This morning shares fell one per cent to 214.8p.  More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comColin Kaepernick to publish book on abolishing the policethegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Show Comments ▼ Tags: AO World Company by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryHero WarsThis game will keep you up all night!Hero WarsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorThe Chef PickElisabeth Shue, 57, Sends Fans Wild As She Flaunts Age-Defying FigureThe Chef PickUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For Seniorscenter_img whatsapp Jessica Morris whatsapp Tuesday 25 November 2014 3:33 am Sharelast_img read more

FCA bosses give up their bonuses over insurance scandal

first_img whatsapp Emma Haslett 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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.com FCA bosses give up their bonuses over insurance scandal The Financial Conduct Authority (FCA) said today directors including Martin Wheatley, its chief executive, will give up their bonuses as a result of an investigation into a botched press briefing over insurance. The organisation said today that Wheatley, director of supervision Clive Adamson, director of communications and international Zitah McMillan and director of markets David Lawton will all forego their bonuses over the scandal. Wheatley had stood to make £150,000, on top of his annual salary of £460,000. The FCA added that all other members of its executive committee will have their bonuses reduced by 25 per cent.The admission comes after a report published today by Simon Davis, a partner at “magic circle” law firm Clifford Chance, accused the FCA of pursuing a “high risk, poorly supervised and inadequately controlled” media strategy.The report was in response to an incident in March, when The Telegraph was briefed about the FCA’s plans to conduct a major review into life assurance, which were due to be published as part of its business plan four days after the newspaper’s report came out. When shares in major insurers plunged as a result, the FCA has been accused of being slow to react.The report suggested the briefing was “well intentioned”, but added that “when it went wrong, the FCA’s reaction was seriously inadequate and fell short of the standards expected of those it regulates”.Ahead of the report, the watchdog underwent a reshuffle, during which Adamson and McMillan both stepped down.Wheatley himself has come under fire over the scandal. When he took control of the FCA, he famously promised to take a hard line on financial firms, saying he would “shoot first and ask questions later”. Share Show Comments ▼ Tags: City bonuses employment and wages FCA UK jobs Wednesday 10 December 2014 8:27 am whatsapp last_img read more

North Korea offers joint probe with US over Sony hack

first_img North Korea offers joint probe with US over Sony hack Share Show Comments ▼ whatsapp In a new twist in the Sony hack story, North Korea has apparently extended an olive branch to US offering to help investigate the attack.The Communist state has denied any involvement with the hacker group Guardians of the Peace that threatened Sony with violence unless it pulled The Interview, a comedy film about the fictional assassination of North Korean leader Kim Jong Un. North Korea said the US was “spreading groundless allegations” surrounding the incident that led Sony to cancel the release of the film on Christmas Day.Sony has since said it is investigating ways to play The Interview starring Seth Rogan and James Franco. The corporation came in for criticism from US President Barack Obama for bowing to pressure from the hackers.The North Korean offer was made on Saturday, with a statement from the foreign ministry saying:As the United States is spreading groundless allegations and slandering us, we propose a joint investigation with it into this incident.Without resorting to such tortures as were used by the US CIA, we have means to prove that this incident has nothing to do with us.North Korea has been widely accused of perpetrating the hack. On Friday, the White House said the attack constituted a “serious national security matter”.Josh Earnest, a spokesperson for the White House, said:There is evidence to indicate that we have seen destructive activity with malicious intent that was initiated by a sophisticated actor and it is being treated by investigative agencies, both at the FBI and the Department of Justice, as seriously as you would expect. center_img Tags: Sony Jeff Misenti whatsapp Saturday 20 December 2014 7:04 amlast_img read more

FTSE 100 slips on weak British economic data – London Report

first_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp whatsapp Tuesday 6 January 2015 8:20 pm Share FTSE 100 slips on weak British economic data – London Report center_img UK SHARES fell for a third-consecutive session yesterday, and the pound traded lower against the dollar, as weaker-than-expected economic data weighed on British assets.The blue chip FTSE 100 fell 0.8 per cent, or 50.65 points, to 6,366.51, bringing its three-day loss total to three per cent. The index fell two per cent on Monday, its biggest fall in three weeks, as sliding oil prices hurt the commodities-rich index.Ashtead, the equipment rental company that generates most of its revenues in the US, tumbled 6.2 per cent, to £11.09, the heaviest FTSE 100 faller. It was dragged lower by an 11 per cent drop in American peer United Rentals.Financial plays were hard pressed. Man Group fell 2.96 per cent to 160.50p, with Hargreaves Lansdown off 2.79 per cent to 956.50p. Banks were led lower by Lloyds, off 2.35 per cent to 72.87p, RBS, down 2.12 per cent at 370p, and a slew of others in the sector. Supermarkets fell too. Morrisons dropped 1.59 per cent to 173.70p, while Tesco fell 1.54 per cent to 178.80p. M&S slipped 0.53 per cent to 454.50p, but Sainsbury bucked the trend, rising 0.47 per cent to 234.60p.Commercial property giants Land Securities dropped 0.95 per cent to 1,151p, while Hammerson also fell 0.74 per cent to 600.50p.Given the focus on falling crude prices lately, oil stocks fared relatively well. Cairn Energy slipped 0.97 per cent to 173.80p. On the plus side, however, were BG Group, up 0.81 per cent to 848.50p, BP, rising 0.35 per cent to 391.05p and Wood Group gaining 0.35 per cent to 580.50p . Miners rose too, with gold climbing to a three-week high as investors sought safety from recent sell-offs in equity and commodity markets.Lonmin added 4.92 per cent to 174.80p, Randgold was up 4.87 per cent to 4,757p, Anglo American rose 2.53 per cent to 1,155p, and Fresnillo climbed 2.86 per cent to 790.50p.Amphion Innovations soared 244.44 per cent to 3.88p after winning a US court appeal case on patent infringement by third parties. Meanwhile, LGO Energy’s output for December averaged 1,685 barrels of oil per day. Its shares fell 16.23 per cent to 3.23p. Nanoco crashed 19.17 per cent to 111.75p as Philips and AOC unveiled new computer monitors using rival technology from QD Vision. Reckitt Benckiser fell 1.35 per cent to 5,110p. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDHero WarsThis game will keep you up all night!Hero WarsThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar Programzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteabley Tags: Company FTSE 100 Express KCS Show Comments ▼last_img read more

Tesco turnaround: Dave Lewis says “We are facing the reality of the situation”. Here’s his statement in full

first_img whatsapp 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.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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 Catherine Neilan Share Thursday 8 January 2015 7:30 am Tesco turnaround: Dave Lewis says “We are facing the reality of the situation”. Here’s his statement in full Tesco’s share price has risen 11.2 per cent today, after revealing better than expected results, a detailed turnaround strategy and the name of its new UK and Ireland boss, Halford’s Matt Davies, who joins in June. Chief executive Dave Lewis has gone through a baptism of fire in his first few months at the helm – though commentators generally believe he has “kitchen-sinked” the supermarket, in other words, chucking all the bad news out as early as possible to enable steady growth under his leadership. Whatever the reason, the revelation of a £250m profit overstatement (which then swelled to £263m) has done plenty of damage to Tesco’s share price.  But today’s surge suggests investors are backing Lewis, both  Today he issued a statement that claimed Tesco was already starting to see green shoots, thanking staff and detailing futher changes that will be made.  Here is that statement in full: “We are seeing the benefits of listening to our customers. The investments we are making in service, availability and selectively in price are already resulting in a better shopping experience. A broad-based improvement has built gradually through the third quarter, leading to a strong Christmas trading performance. “I would like to thank all of my colleagues in Tesco. The unique combination of retail expertise and real passion for the customer has been an inspiration to be a part of. In difficult circumstances the team has begun the challenging task of reinvigorating our business. There is more to do but we have taken the first important steps in the right direction. “We have some very difficult changes to make. I am very conscious that the consequences of these changes are significant for all stakeholders in our business but we are facing the reality of the situation. Our recent performance gives us confidence that when we pull together and put the customer first we can deliver the right results.”   Show Comments ▼ whatsapp Tags: Company Dave Lewis People Tescolast_img read more

David Ginola is being paid £250,000 by Paddy Power to stand for Fifa president

first_img Share Tags: Fifa crisis whatsapp  David Ginola is being paid £250,000 by bookmakers Paddy Power to stand in the Fifa presidency elections next year. The former Tottenham, Newcastle and Aston Villa star, known for his long locks and shampoo commercials, shocked the football world last night when he revealed his intention to stand against Blatter. Ginola launched his charge for the most powerful job in football at a press conference hosted by Paddy Power in London today, where it was revealed the 47-year-old was being paid by the bookmaker, casting doubts over the legitimacy of his campaign. The Frenchman struggled to answer questions on some of the key issues affecting the football world, including third-party ownership and the international football association board. Regardless of his association with a bookmaker known more for its controversial publicity stunts than altruistic campaigns for the betterment of world sport, Ginola will have a tough task receiving the required five nominations from members of Fifa’s executive committee. However, he has insisted he is serious in his attempts to change football for the better. In an interview hosted on Paddy Power’s website he said: My aim is that people can feel they’ve been given back a voice and a respect for the world game. That people can say: “Wow, what a massive change. We had that before and now we have transparency, common-sense, defendable [sic] decisions and policies which can be understood, explained and which are crystal-clear in their philosophy”.  whatsapp center_img Show Comments ▼ Joe Hall Friday 16 January 2015 5:54 am David Ginola is being paid £250,000 by Paddy Power to stand for Fifa president last_img read more

Greece Election 2015: Will a Syriza win lead to a Greek exit?

first_img Show Comments ▼ Share whatsapp Expect a game of chicken between the far-left regime and its lenders.In five days the Greeks go to the polls, and the far-left Syriza party is forecast to win power – if not with an outright majority, then with a little help from like-minded candidates.The party, led by Alexis Tsipras, (above) has wooed voters with the promise of a €12bn (£9bn) spending splurge and a demand for the country’s debts to be renegotiated with its troika of lenders – the European Central Bank, the European Commission and the International Monetary Fund.Unsurprisingly, after heavy belt-tightening under Greece’s bailout programme, it’s a vote winner. Syriza is expected to take just under half of the seats in Greece’s 300-seat parliament.But it also sets Greece on a collision course with its lenders – almost daring Eurozone leaders to force a Greek exit, or “Grexit”, from the euro.So can Greece – led by Syriza – have it all its own way? Morgan Stanley thinks not. In a note yesterday, economists called Syriza’s ambition to stay in the euro, gain power and undo the bailout programme an “impossible trinity” (see below) and said one of the three would have to give. “Because Greece needs a precautionary credit line to facilitate market access, given its funding gap, a compromise between the Troika and the next Greek leadership is likely – especially given prospects of soft [restructuring of official sector loans]. but, on a three-six month view, the process looks far from smooth.”Specifically, Morgan Stanley puts odds on how this Eurozone-wide game of chicken will play out. The most promising case, with a likelihood of 55 per cent, is a “euro stay”, where Greece reaches a compromise on debt terms and goes back into a funding programme. A “euro staycation”, with a 20 per cent likelihood, would involve no initial agreement, Greece’s suspension from the Eurozone and capital controls. The third option, given a 25 per cent chance, would see a “euro exit”, significantly reducing Greece’s GDP, but also hurting the Eurozone. The problem is not so much that Greece wants to exit the euro – recent polls show as much as 75 per cent of the country wants to stay within the single currency – but that Syriza could be backed into a corner.Professor Kevin Featherstone, of the London School of Economics, said bluntly: “The risk of a Grexit doesn’t stem from intentions – on either the Greek or the European side – but from mistakes by either side in an intense period of ‘poker’ eyeballing.”Diego Iscaro, analyst at IHS Global Insight, said: “There is going to be high uncertainty. Syriza is expected to get the most votes but we could be waiting until late February or early March for a second round of elections if they can’t form a coalition. “The big question is whether Syriza would change their policy – and perhaps pay a high political price – or stick to their guns with their economic proposals – which are unlikely to be accepted by the Troika – and come away without a deal.”Iscaro, who believes there is a 30 per cent chance of a Grexit, added: “They will have to be flexible. They may get some leeway in terms of lower interest rates or an extension on maturity dates, but they’re unlikely to get a cut in nominal terms, otherwise Portugal and Ireland would line up for it too.”European leaders’ resolve will be tested even further this week, with the European Central Bank widely expected to announce quantitative easing on Thursday – despite strong German opposition and a question mark over buying Greek sovereign bonds.With the stakes so high, Morgan Stanley concluded: “The key decision may be on the continuation of the current waiver for the collateral that the Greek banks post at the ECB, which expires in March. This needs the extension of the EFSF [bailout] programme until the end of February and the existence of an IMF programme, but also a successful conclusion of the current Troika review and a follow-up arrangement between the Greek authorities and the official lenders.”By any reckoning, that’s a lot of “ifs”. Monday 19 January 2015 8:50 pm Express KCS Greece Election 2015: Will a Syriza win lead to a Greek exit? Tags: Greek debt crisis whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDefinitionWhat ‘Harry Potter’ Characters Were Actually Supposed To Look LikeDefinitionzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comBeach RaiderDo You Agree That She’s The Most Beautiful Woman In The World?Beach RaiderEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorGloriousaTrail Cam Photos Captured In The WildernessGloriousaNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableylast_img read more

Europeans confident growth will return and deflation will end

first_img Express KCS Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof Thursday 5 February 2015 8:03 pm whatsapp THE ECONOMIC climate in Europe is improving rapidly, according to the influential Ifo survey published yesterday.Despite the Greek negotiations and the war in Ukraine, the Ifo’s index monitoring the economic climate improved from 102.3 to 112.7 in the past quarter.The sharp rise takes the index firmly above its long run average of 106.1 points. The index measuring expectations of growth also climbed, up from 100 to 109.8.Respondents also believe the current bout of flat or falling prices will not suck the Eurozone into a deflationary spiral.The survey showed inflation is expected to come in at 0.7 per cent in 2015, before accelerating to 1.6 per cent in three to five years’ time.Even in Greece, which is suffering most from a terrible GDP performance, prices are only expected to fall by 0.2 per cent this year before rising again by 1.2 per cent in the near future.Expectations are important for policymakers, individuals, and businesses. If they expect prices to rise steadily at the European Central Bank’s target – below but close to two per cent per year – then they know how to price products and pay staff.But if price expectations vary more widely, it can result in inflationary spirals, where prices and wages rise solely in anticipation of inflation, or a deflationary cycle where firms and households cut back on spending in the hope of buying when prices are lower. center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldLivestlyThe Best Redhead Actresses, RankedLivestlyNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableySenior Living | Search AdsSenior Apartments Coming to Scottsdale (Take A Look At The Prices)Senior Living | Search AdsTotal PastAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongTotal PastNovelodgePierce Brosnan’s Wife Lost 120 Pounds – This Is Her NowNovelodge whatsapp Show Comments ▼ Europeans confident growth will return and deflation will end Tags: NULLlast_img read more

Upper Street aiming to fundraise £200,000 on Seedrs for growth

first_img Upper Street aiming to fundraise £200,000 on Seedrs for growth whatsapp Sunday 8 February 2015 11:08 pm whatsapp Share Express KCS center_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof Show Comments ▼ LUXURY made-to-order shoe firm Upper Street has launched a £200,000 fundraising round using the London-based crowdfunding platform Seedrs as it looks to grow its online platform. The company, which was founded five years ago by Katy Chandler and Julia Elliott Brown, allows customers to design their own shoes online using 3D technology.Shoppers spend an average of £254.50 per order on the site, which claims to offer more than 5m shoe combinations. In March last year, the online retailer secured £750,000 from the British Business Bank’s Aspire Fund and Venrex Investment, the venture capital group behind the luxury stationer Smythson.Upper Street has raised £33,800 so far via the crowdfunding platform. The company was worth £2.8m before the fundraising. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldLivestlyThe Best Redhead Actresses, RankedLivestlyNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableySenior Living | Search AdsSenior Apartments Coming to Scottsdale (Take A Look At The Prices)Senior Living | Search AdsDefinitionThe Most Famous Movie Filmed In Every U.S. StateDefinitionBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MD Tags: NULLlast_img read more

Smoking hot revenues from Tweed Marijuana

first_img whatsapp Canadian marijuana company Tweed is smoking: it just posted its highest ever revenue figures.The company, which sells medicinal marijuana reported sales of $1.12m (£580,706) for the 12 months ending 31 December, and $641,309 for the fourth quarter, which ended on the same date. December was by far the biggest month for the company, with 50 per cent of its fourth quarter revenue coming during the month. Tweed is still making net losses however, $2.65m for the quarter and $7.74m for the financial year.Why it’s interestingThe world is opening up to marijuana, especially the US to the south, as the map below shows. It still remains illegal for recreational use in Canada, but cannabis can be used medicinally. Tweed was granted a licence to grow marijuana in January last year, and so is still very much in its infancy.Tweed, currently run by interim chief Bruce Linton, is one of 20 companies currently licenced to grow the plant. In 2000, when the Canadian government first legalised the drug for medicinal use, there was mayhem. The government sold straight to customers, but individuals could also grow the stuff at home for personal use or even beyond.Canada introduced the Marijuana for Medicinal Purposes regulations in April last year, and Tweed is licenced under those regulations. It prides itself on growing different strains of the plant in their ideal environment, either outdoors or indoors, on its six farms.The new rules mean that patients have to sign up to one dedicated producer, rather than shopping around. This means it’s in Tweed’s interest to offer good quality marijuana, grown in optimal conditions: anything less could mean customers go elsewhere. It’s more than worth Tweed’s while to build a solid base in an industry that soon could be worth $3.1bn (Canadian dollars).Who knows what could happen if the US manages to homogenise legislation and reconcile strict federal laws with the more lenient rules in certain states (see map).Tweed saidIt is important to reiterate that Tweed invested in a large growing platform early so we could remove any customer onboarding roadblocks.said Bruce Linton, Chairman and CEO of Tweed.This investment began to yield significant inventory in November, clients in December, and sustained growth to date. Smoking hot revenues from Tweed Marijuana Billy Ehrenberg by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comGameday NewsNASCAR Drivers Salaries Finally ReleasedGameday NewsMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesHistory 10[Gallery] The 25 Worst Casting Choices of All-TimeHistory 10ComedyAbandoned Submarines Floating Around the WorldComedyNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyTheFashionBallPrince Harry Admits Meghan Markle May Not Be The OneTheFashionBall Sharecenter_img 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.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com whatsapp Show Comments ▼ Thursday 26 February 2015 4:51 pm Tags: NULLlast_img read more

Best of the Brokers for 19 March 2015

first_imgWednesday 18 March 2015 8:53 pm whatsapp To appear in Best of the Brokers, email your research to [email protected] HEALTHNumis reiterated its “buy” rating on the Abu Dhabi-based healthcare company. The broker said the firm’s “solid 2014 performance across all assets” provides a strong base for the company, and added that costs, including wages, are under “good control”, with newly opened hospitals also ramping up.HILTON FOOD GROUPShore Capital upgraded its rating on the meat-packing business, from “hold” to “buy”, ahead of full year results. The broker said new customer partnerships could be announced over time, and “with a robust track record of delivery would expect any such initiatives to be taken well by the market”. whatsapp Show Comments ▼ Share 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 ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTop 10 Fried Chicken Spots in the U.S.GayotAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Best of the Brokers for 19 March 2015 Tags: NULL Express KCS last_img read more

David Cameron’s Heat Magazine interview: Here’s everything we didn’t want to know

first_imgTuesday 31 March 2015 5:02 am David Cameron’s Heat Magazine interview: Here’s everything we didn’t want to know whatsapp With the polls showing Labour neck and neck, neither of the party leaders can afford missed beats or wasted interviews.To that end, David Cameron decided to let Heat magazine’s editor-in-chief, Lucie Cave, into the heart of Downing Street for a grilling that would put Paxo to shame. Here’s a sample of what we found out – but really didn’t need to – about Britain’s most powerful man.Spiders and rats: Cameron’s kitchen nightmaresAsked if he had any phobias, the PM said: “I’m not very keen on rats. We had one in our kitchen once, it came in through the cat flap, it was horrible, and I kind of found it in the middle of the night.”But in a revelation a little too candid even for the chillaxed PM, he added:Well, I’d like to say I stripped down to the waist and wrestled it and threw it out there but I didn’t.However, the PM is better when facing his arachnid opponents. “If there’s a spider in the bath, send for me,” said Cameron.PM fears killing crocsNot ready to let turn the conversation away from unpleasant creatures, Cameron recounted his experience with a baby amphibian:I actually had to hold a baby crocodile the other day, I didn’t like that. There was a camera on so I had to go, “Oh this is lovely”, but I was really worried I was squeezing it so tightly that actually I was going to kill it, because the guy said to me, “if this bites you, you know, you will draw blood” and I said “oh really?”Multi-tasking is still not a man’s thingIf there is one gender stereotype the progressive Tory is still willing to hold on to, it’s that of men being incapable of multi-tasking. “I’m a man, I can’t do two things at once. Don’t be ridiculous,” he told Heat. “I cannot listen to music and run. I don’t know how people do it.”But he still has a shy sidePoliticians should be used to being in the public eye and from what most of us can see they don’t resent it but relish it. But when it comes to going on summer holidays, even the most seasoned cynics may have a morsel of sympathy with the party leaders. Cave asked the PM “do you hate it when the papers have your holiday pics?”“The holiday snaps is an occupational hazard. I’d prefer it if they took ones when my t-shirt was on than off, but that’s my lookout,” Cameron replied. Asked if he would emulate Tony Blair and win Heat’s torso of the week, the PM wasn’t so hopeful.”No, I will never be a contender, there is no chance of that. I try to go for a run two or three times a week, about a two-mile run, I’ve got some circuits outside I do.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekGameday NewsNASCAR Drivers Salaries Finally ReleasedGameday NewsComedyAbandoned Submarines Floating Around the WorldComedyEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.com Jeff Misenti center_img whatsapp Show Comments ▼ Tags: David Cameron General Election 2015 People More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comWhy people are finding dryer sheets in their mailboxesnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Sharelast_img read more

Best of the Brokers for 15 April 2015

first_imgTuesday 14 April 2015 8:30 pm Show Comments ▼ Tags: NULL Share whatsapp whatsapp To appear in Best of the Brokers, email your research to [email protected] MORRISONShore Capital said it welcomed the speedy shake-up in management under new chief executive David Potts and reiterated his “buy” rating with a target price of 200p. He said Morrisons was on track to become a more “shareholder-friendly” stock before its supermarket peers.TULLOW OILCiti issued a bullish note on Tullow yesterday and raised its rating from “neutral” to “buy”. It also lifted its price target from 406p to 433p. The bank said concerns around Tullow’s balance sheet and timing of the TEN development off the coast of Ghana are more than discounted in the current valuation.WH SMITHEspirito Santo initiated coverage on WH Smith a “buy” rating and a fair value of 1550p. The broker believes chief executive Steve Clarke has moved the business onto a different model, with less vulnerability to operational gearing and a greater capability for generating cash. Express KCS Best of the Brokers for 15 April 2015 Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’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 ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat is ‘Ranked-Choice Voting,’ the New System for New York’s MayoralFamily Prooflast_img read more

General Election 2015 interactive: Lord Ashcroft polls show Conservatives set to win Rochester and Strood from Ukip

first_img Tags: General Election 2015 whatsapp [custom id=”1″] Saturday 25 April 2015 11:41 am The Conservatives are on course to take the Ukip-held seat of Rochester and Strood, according to the latest Lord Ashcroft poll.The Tories would take the seat by 37 per cent to Ukip’s 30 per cent according to the survey. It pus Labour in third on 25 per cent followed by the Greens on four per cent and Lib Dems with three per cent. Ashcroft pointed out that in a poll before the by-election last year – which Ukip won – 36 per cent of those polled said they would most likely vote Conservative at the General Election. This suggests that the electorate may view the two votes as discrete events – good news for David Cameron.Ashcroft’s report also looked at other battleground seats, including Bristol West, a seat the Green Party is strongly targeting. Many Liberal Democrat supporters appear to be defecting to the Greens, which has handed Labour the lead. More From Our Partners Institutional Investors Turn To Options to Bet Against AMCvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.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.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com General Election 2015 interactive: Lord Ashcroft polls show Conservatives set to win Rochester and Strood from Ukip center_img Share Show Comments ▼ whatsapp Billy Ehrenberg last_img read more

One in 10 parents think their children are “too clever” for apprenticeships

first_img Show Comments ▼ One in 10 parents think their children are “too clever” for apprenticeships whatsapp Share whatsapp One in 10 parents consider their children to be “too clever” for apprenticeships, new research shows – suggesting teenagers are still feeling the pressure to go to university, rather than consider alternative options.The study, by AllAboutSchoolLeavers.co.uk, found just over 80 per cent of teachers felt they didn’t know enough about non-university options for school leavers. Considering a study published earlier this week by High Fliers Research showed the £9,000 cost of going to university means an increasing number of school leavers would rather do something else, that suggests teachers are going to have to wise up sooner, rather than later – particularly given official figures show the number of new undergrads fell 17 per cent in 2013. In fact, there were suggestions apprenticeships and other further education options are becoming increasingly acceptable – just 54 per cent of the 10,000 school and college students surveyed said they were only considering university as their next option. But with only 40 per cent of parents saying they really understand the concept of a “higher apprenticeship”, there’s still snobbery over the quality of university versus other routes.Jack Denton, co-founder of AllAboutSchoolLeavers, pointed out that employers should consider widening the net of those they employ.”The supply of vacancies must match the changing demands of the market,” he said.  Emma Haslett Thursday 25 June 2015 4:30 am Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapWatch President Biden Do Battle With a Cicada: ‘It Got Me’ (Video)The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap Tags: NULLlast_img read more

Seven-year decline in lending to businesses set to end this year, says EY Item Club

first_img Seven-year decline in lending to businesses set to end this year, says EY Item Club Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapWatch President Biden Do Battle With a Cicada: ‘It Got Me’ (Video)The WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap Share whatsapp Business lending will grow for the first time since 2008, a group of economic forecasters said today. Banks lent £103.4bn to UK businesses in the first half of 2015 compared with £88.6bn in the first half of 2014. This trend is expected to continue throughout the rest of the year, according to the EY Item Club, a group of economists.It would put an end to years of contraction in business lending, which peaked at £575bn in 2008. The Item Club believes business investment will grow by an average annual rate of 6.5 per cent over the next three years, fuelling demand for borrowing.“At this rate, the rise in overall business lending this year will only be marginal,” said Omar Ali, UK head of banking and capital markets at EY. “Add further fines on the horizon, the introduction of a banking tax surcharge, ongoing regulatory reform, and the pressure to create more competition to the mix, and you can see why banks won’t be pausing to celebrate yet.”The Item club also warned that lending to smaller firms could be constricted by regulations set to be introduced in 2019. Sunday 2 August 2015 11:15 pm Express KCS Show Comments ▼ whatsapp Tags: NULLlast_img read more

Manchester to become trade union bill battle ground as thousands of protesters plan march against government

first_img Manchester to become trade union bill battle ground as thousands of protesters plan march against government Monday 28 September 2015 1:06 pm whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorArticles SkillHusband Leaves Wife For Her Sister, Not Knowing She Won The Lottery Just Moments BeforeArticles SkillDefinitionThe Most Famous Movie Filmed In Every U.S. StateDefinitionTotal PastThis Was Found Hiding In An Oil Painting – Take A Closer LookTotal PastInteresticleMan Finds Wierd Cave In Scottsdale, Enters And Drops To His KneesInteresticlecenter_img Catherine Neilan whatsapp The UK’s biggest trade unions are planning to target the Conservatives’ party conference with a major rally and march throughout Manchester next Sunday.Coaches are being organised to take anti-austerity protesters from various points around parts of England and Wales to the centre of Manchester on 4 October. The march is expected to take place between 12pm and 1:30pm, when demonstrators will hold a rally outside Manchester Central. As many as 80,000 people are said to be taking part in the protest, which will attack the government’s economic agenda and trade union bill with the slogan “no to austerity, yes to workers’ rights”. The TUC, which is coordinating the event, said: “Trade  unions have a proud tradition of standing up for workers, their families and the services everyone uses. So now the government is threatening the right to strike. “In  the trade union bill, they propose to make it harder for unions to take strike action to oppose their cuts. They want to make it harder for workers to speak out – allowing employers to use agency workers to break strikes and putting huge restrictions on pickets and protests. In short, they want to silence millions of union members and threaten their right to strike. So we all need to speak out now. March in Manchester on Sunday 4 October and tell the Conservatives  that we say “No!” to austerity. And tell them that workers need a voice. That trade unions give workers a voice. And that instead of austerity, it’s a resounding “Yes” to workers’ rights.”But protesters could be met with a “ring of steel” around the conference venue, where 12,000 delegates and exhibitors are expected to descend for the fourth time since 2009.According to the Manchester Evening News, the metal fence will be erected around Manchester Central this week, while a series of road closures are also being put in place. Affected roads include Mount Street, Windmill Street and Peter Street, while Manchester Central NCP car park, certain pay and display bays and some disabled parking areas will be closed from 10pm on Saturday 3 October.   Show Comments ▼last_img read more

FTSE 100 closes at its highest level in six weeks as Glencore share price soars

first_img whatsapp Britain’s blue chip index closed up 2.8 per cent to 6,298.92 points today, its highest level since August 20, led by gains from commodities giant Glencore. Speculation had swirled over whether the Swiss miner would sell some assets to cut its debt, or even consider agreeing to a takeover. Shares in the company closed up 21.05 per cent to 115p per share.  Antofagasta ended 5.5 per cent higher at 537.50p per share, Anglo American closed up 3.78 per cent to 574.51 p per share and BHP Billiton posted gains of 2.21 per cent to 1,065p per share.Last week Reuters reported that the company was considering selling a stake in its agricultural assets. And over the weekend, the Telegraph on Sunday suggested that the company’s management would listen to offers for the entire company.Hopes that the Chinese government would take steps to boost growth in the world’s second largest economy boosted shares with significant emerging market exposure.Read more: China is key to securing London’s future”The last few times China tried to encourage economic activity by announcing a stimulus scheme it has backfired, and sent commodity related stocks crashing, but now there is the feeling that something drastic is needed.,” David Madden, market analyst at IG Group, said.Shares in emerging markets focused bank Standard Chartered closed up 6.26 per cent to 708.4p per share, while Aberdeen Asset Management ended the day 5.3 per cent higher.Oil stocks were also lifted after Brent crude posted its biggest intra-day gain in two weeks.Royal Dutch closed up 2.84 per cent to 1,668.04p per share, BG Group rose 2.76 per cent to 1,015.05p per share and BP 4.71 per cent to 368p per share. Jessica Morris FTSE 100 closes at its highest level in six weeks as Glencore share price soars whatsappcenter_img Share Monday 5 October 2015 7:41 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirror Show Comments ▼last_img read more

FIFA president Sepp Blatter “provisionally suspended for 90 days” by Fifa ethics committee

first_img whatsapp FIFA president Sepp Blatter “provisionally suspended for 90 days” by Fifa ethics committee Stoehlker told BBC Sport: “The news was communicated to the president this afternoon. He is calm. Remember he is the father of the ethics committee.””This is provisional for 90 days but he is not actually suspended. The committee has not yet made a decision and their meetings continue.” whatsapp He said that the Swiss attorney general’s investigation was “pending” and so far no negative findings have been made against the Fifa boss.Blatter faces criminal charges around a payment made to Uefa president, and his potential successor, Michel Platini. He’s also attracted attention for an “unfavourable” contract signed with the Carribean Football Union while disgraced former president Jack Warner was in charge.Read more: Fifa president Sepp Blatter to face criminal chargesBlatter, who has been at the helm of Fifa since 1998, and Platini have denied any wrongdoing.A final decision is likely to be made on Thursday, according to BBC Sport. Wednesday 7 October 2015 1:16 pm Fifa president Sepp Blatter has been “provisionally suspended for 90 days” by the Fifa ethics committee, according to media reports.Klaus Stoehlker, who has advised Blatter in the past, told Sky News that the committee made the ruling in light of further investigations by the Swiss authorities. Share Jessica Morris Show Comments ▼last_img read more

Court rules Port of Rotterdam Authority acted fairly over Maasvlakte ll concessions

first_img Rotterdam’s Rechtbank Court today ruled that the Port of Rotterdam Authority does not need to pay damages to its largest container stevedore ECT.The stevedore firm had sued the municipal port authority over the award of concession agreements to Rotterdam World Gateway and APM Terminals for new box facilities on the reclaimed Maasvlakte II area.Hutchison-owned ECT had claimed €1bn in estimated losses, but the court decided that the port authority did not misuse its economic power to facilitate new players in the containers market.A statement from the district court said:Following the verdict, the port authority said “The Port of Rotterdam Authority has always acted correctly and treated the various terminal operators equally. We have always regretted that this issue led to legal proceedings.“Now that this clear ruling has been issued, we hope to be able to bring this matter quickly to a close and, together with ECT and the other stakeholders, to devote our energies to strengthening Rotterdam’s competitive position.”However ECT indicated it would consider further steps, which include taking the matter to a higher court. It added that it had started legal procedures as a result of “betrayed confidence, promises made, points of view altered and rules in common practice changed”.It said: “Since 2009, ECT has asked to settle these matters. It only went to court the moment talks did not come to a satisfactory solution.”ECT claimed the new Maasvlakte II terminals would bring 50% overcapacity in container handling operations to the port, potentially leading to a collapse in handling rates and big economic and social problems on the existing Maasvlakte area.Many in the port contest that, however, especially given the current congestion that is gripping box operations and has led to a series of container vessel calls being diverted to nearby competitor Antwerp. And the court judged that it was “inevitable that there would be temporary overcapacity”.A statement from the court said: “With its policy, the port authority served the interests of the more long-term development of the port of Rotterdam. Furthermore, it took measures to limit the negative consequences of this overcapacity.”ECT operates terminals in the port close to the city centre, on the existing Maasvlakte site and very near to Maasvlakte II, where the ECT Euromax terminal is situated.  The estimated container handling on that terminal will be 2.5m teu in 2015. Rotterdam World Gateway is expected to offer 2.4m teu capacity a year and APM Terminals 2.7m teu, with the latter scheduled to open before the end of the year.ECT has been the dominant player in Rotterdam’s container market since its inception in the mid-1960s, and relied on considerable support of Rotterdam Municipal Port Authority, as it was previously known.  The authority facilitated the construction of ECT terminals, as well as the Delta/SeaLand Terminal, which was subsequently taken over by APM Terminals following Maersk’s acquisition of the SeaLand, and is today known as the Delta Dedicated North Terminal.In its court submission, ECT also claimed that it was discriminated against operating the new terminals on the basis that that one of the criteria on which operators were selected was “competitiveness”, and was given just 15 out of the 100 points that bidders were able to score.“Given the importance of this criterion, it was not encouraging to hear HbR [Port of Rotterdam Authority] express the opinion that the number of points that ECT could expect to earn for competitiveness would be “close to zero”. When asked about the motivation for this expectation, no definitive answers were given, but it appeared that the primary concern of HbR is that the port of Rotterdam’s overall competitiveness cannot be guaranteed unless the winner of the tender for T1 engages in direct intra-port competition with ECT,” the company’s legal team argued.However, the court found no evidence of this.Its statement added: “ECT was not denied a fair chance in the tendering procedure. The court found no evidence that the port authority had made any firm commitments to ECT which it failed to honour. The terms and conditions of the agreements which the port authority made with ECT are no less favourable than those made with its rivals.”However, a small measure of support for ECT’s position came from an unlikely quarter today when the International Transport Workers Federation (ITF) warned that new capacity in the port should not be rushed into operation if it led to job losses, and called for a wider social dialogue.ITF president and dockers’ section chair Paddy Crumlin explained: “This decision should not be taken as a green light to expansion without dialogue. There is a clear need for discussion around a phased implementation of Maasvlakte 2. That must include a dialogue involving all stakeholders, including the representative workers’ union, FNV Havens, and it must cover areas such as job creation, job stability and sustainability.“Without that process, the future of one of the world’s busiest and most successful ports – and one with a record of good labour relations – will be put at risk.” By Janny Kok in Rotterdam and Gavin van Marle 24/09/2014last_img read more

News / Transporters of project cargo feeling the squeeze as global oil giants economise

first_imgAgility works with the oil and gas industry both upstream and downstream, including oilfield service companies, drillers and engineering contractors that construct LNG, NGL and petrochemical complexes.“We recognise that our clients in the oilfield service industry and upstream exploration and drilling will be affected by cuts in spending,” Wattman said. “Exploration and development sector are already reducing drill count, reducing staff and postponing expenditures not committed.“While there will be decelerating investment in LNG and NGL liquid capture and conversion projects, there is still movement in the petrochemical sector and in retrofit of existing power and production facilities that are shifting to gas.”At Panalpina, oil and gas industry cargo shipments break down into two main categories: exploration and production (E&P) infrastructure and equipment, including drilling rigs, turbines and pipework; and production support, from construction materials to workers’ food and other supplies, operating equipment, computers and support vehicles.“E&P shipments are frequently oversize, and often need to be delivered urgently to ensure production stays on time,” explained Frank Bichowski, Panalpina’s global head of business development, Energy Solutions.“Production supply requires a high level of consistency and reliability to feed ongoing operations. Our own-controlled freighter network – which also includes scheduled charters, for example down to Africa’s West coast – keep a steady flow of material streaming to oilfield production sites.”Hotspots for Panalpina in 2014 included Central Asia, the Middle East and the North Sea as well as West Africa. But Bichowski said: “We are seeing a decline in all E&P areas globally. Drilling, deep water and oilfield services are affected most. Projects are likely to be delayed or cancelled at short notice, or will go through re-design or re-bidding.”The company expects prices to stabilise, albeit at a lower level, in the second half of the year. With customers focusing so closely on costs, Bichowski sees opportunities in the re-engineering of supply chains, outsourcing and shift of transport mode.“Geographically, we see growth opportunities in the oil and gas sector in the Middle East and Kenya. Furthermore, there are other areas in the energy sector that can compensate for reduced oil and gas activities: petrochemicals and power plants based on alternative energy sources such as hydro and solar,” he added.Hansa Heavy Lift, a specialist in ocean movements of project cargo, claims it is not yet suffering from the slump in the oil price. MD Joerg Roehl said: “So far our business partners have only advised us that there may be cutbacks on future projects, but there is no physical impact on any current projects or work we are involved in. We are still receiving many tenders, and opportunities as a heavylift carrier to handle projects for the coming months and years.”However, Agility’s Wattman expects to see smaller operators, squeezed by reduced cash flow and working capital, being forced to cut spending.“Mid-size and large companies will be looking to acquire or merge, further affecting the sector,” he predicts. “Agility Brazil, USA, Russia and the Middle East will probably see the greatest impact.”Simon Morris, group business development manager – oil & gas at GAC, says out-of-gauge cargo movements for new builds, refurbishments and subsea installations are “likely to continue in short to medium term”, but new projects will slow down until the oil price recovers.“Exploration will generally be on hold until the oil price recovers – unless it is ‘easy’ shallow water or land-based oil,” he added. “Where possible, newbuild deepwater projects will be postponed, cancelled or delayed.”Echoing Wattman’s comments, Morris said: “We expect a slowdown until the second half of the year, or until the price recovers to a minimum of $70 a barrel.  There will consolidation in the industry, bankruptcy and mergers.” Movers of project cargo are already feeling the impact cutbacks in capital expenditure being implemented by the global oil giants.BP, the world’s third-largest oil and gas company, today announced it is reducing investment by up to $6bn this year following a 20% fall in profits for the final quarter of 2014. The company is the latest to rein back on exploration projects as the crude oil price languishes at around $50 per barrel, close to a six-year low.Exxon Mobil, ConocoPhillips and Occidental Petroleum are all suspending new oil and gas projects while Shell is cutting spending by $15 billion over the next three years as it scraps, scales back or defers 40 of its more expensive projects. Shell is continuing is keeping faith in projects that are already underway, and will almost match last year’s capital investment of $35 billion in 2015.However, Grant Wattman (pictured), president and CEO of Agility Project Logistics, said: “Lower oil prices are likely to be with us through much of 2015, triggering industry cost reductions and investment delays. We anticipate postponement of at least one third of capital projects that have yet to get the final investment go-ahead.” By Martin Roebuck 03/02/2015last_img read more

News / Bullish UTi Worldwide warns ‘tight-margin shippers’ to expect rate increases in 2016

first_img“I believe that our industry is getting smarter from a competitive perspective, and I have seen several large clients say that they do not want to go to a bid next year because they are concerned about price increases, and are instead asking us to work creatively with them on how to improve service levels and cut-off times, and other things we can do to help them.“Their objective is to lower transport costs, but I would say right now that despite an expanding yield environment the average mega-client is scared that their rates are going to go up… and there is evidence to support that,” he said.Second-quarter revenues decreased 16.5% to $913.9m, down year-on-year from $1.09bn, while net revenues decreased 14% to $338.5m from $393.7m. The company said the decrease in net revenues was primarily related to lower air and ocean volumes in its freight forwarding arm, as well as the strengthening of the dollar against the euro and South African rand.Adjusted earnings before interest, tax, depreciation and amortisation (EBIDTA) for the period was $11m, compared to $24m the year before.Mr Feitzinger added that second-quarter volumes had been “unseasonably flat”,“In a normal progression from the first quarter to second, we would expect to see about 5% seasonal increase in airfreight kilos, and about a 10% seasonal increase in ocean freight teu. The difference between these historic norms and what we saw across all forwarding product lines in the second quarter represents almost $10m in reduced net revenue in the quarter,” he said.He admitted that UTi’s widespread IT transformation programme had seen “service levels deteriorate” and led to sustained market share losses.“Our sales people were consumed by internal matters and unable to spend sufficient time with clients. Subsequently, it took about six to nine months for us to see the full impact of this in our market share.”But he claimed that that trend had now been reversed.“After a sustained period of market share losses, our forwarding volumes have stabilised and are coming back in line with the industry. The question now becomes when we will see freight forwarding growth return, both from a rebound in our existing client shipping patterns and our own efforts to take share?”He said that the period had seen UTi win “two of the largest air and ocean contracts in recent memory”: one, a 25,000 teu intra-Asian ocean freight contract from a single client; and the other, 5m kg of new air business “in a recent global bid”.He said both clients were new to its portfolio, but that “the brisk second-quarter headwinds have hindered the speed with which we expect to arrive at our previous fiscal 2016 target”.Chief financial officer Rick Rodick forecast a full-year adjusted EBITDA of $75m-$100m. By Gavin van Marle 04/09/2015 US freight forwarder and contract logistics provider UTi Worldwide yesterday claimed its financial rebound was continuing as it released second-quarter results.But chief executive Ed Feitzinger sent a warning to major shippers that, after several years of procurement policies that simply focused on the cost of logistics and not its value, forwarders were getting wise to that and contract rate increases could be on their way next year.UTi has spent much of its turnaround programme focusing on the particular cost and margin of each shipment, finding that many blue-chip clients often represent poor profitability.“When I look at our larger clients, they have done a very good job of driving a lot of margin out of the industry in the past few years. A lot of the large clients that we, and our competitors, carry are not very profitable, especially in terms of smaller shipment sizes and the fixed costs of moving a single shipment.last_img read more

People / XPO Logistics UK plans to offer 120 apprenticeships

first_imgBy Gavin van Marle 15/03/2016 XPO Logistics has revealed plans to hire 120 apprentices in the UK this year.Coinciding with the beginning of National Apprenticeship Week, which began yesterday, the company said it would hire trainees for a wide variety of roles – in HR, finance, technology, customer service, facility operations and maintenance, as well as in the core warehousing, transport and HGV driver positions.XPO Logistics’ UK & Ireland supply chain HR director Mark Simmons said: “Our apprentice programme continues to earn terrific feedback from both the apprentices and the operational leaders in our business.“Retention rates are increasing year-on-year and 97% of our current apprentices say that they see themselves having a long-term future with XPO Logistics. This is a tremendous endorsement of our training programmes.”Under its previous Norbert Dentressangle ownership, which was acquired by US-headquartered XPO last year, the firm launched its apprenticeship programme in 2013, and has since recruited over 270 apprentices across 60 sites in the UK.“This year, we are building on past success by enhancing our learning frameworks and introducing dedicated on-site apprentice coordinators. This will ensure that every one of our new apprentices receives even greater support to build a career,” Mr Simmons added.last_img read more

News / Amazon moves to Kentucky as its freight and logistics ambitions grow

first_imgIn its latest nine-month figures, Amazon show shipping revenues up 42% year-on-year to $5.97bn – a number dwarfed however by its 42% rise in shipping costs to $10.5bn.Reuters reported in December that Amazon was loading its own aircraft with big, lightweight boxes and giving the integrators, which are increasingly pricing by volume rather than weight, smaller items in a bid to cut shipping costs.Amazon noted in its results it was seeking to “expand our fulfillment capacity … to meet anticipated shipment volumes from sales of our own products as well as sales by third parties for which we provide the fulfillment services”.It added: “We seek to mitigate costs of shipping over time in part through achieving higher sales volumes, optimising placement of fulfillment centres, negotiating better terms with our suppliers, and achieving better operating efficiencies.”Last week it was reported that Amazon had started shipping products via ocean freight, with figures showing it had acted as a freight forwarder for some 150 containers from China since October – a small amount, but one that is likely to grow, and help it cut costs.It said in the latest statement that it was bringing its expertise in technological innovations to “the transportation space to increase shipping capacity for its customers”.The new air hub will service Amazon’s new fleet of Prime Air freighters by loading, unloading and sorting packages. So far 16 of the 40 aircraft under contract are operating, with more expected this year and next, from ATSG and Atlas Air. DHL last year completed a $108m investment at CVG, which could be a further boost to Amazon’s delivery network.The move came as a blow to Wilmington airport. Joe Hete, president of Wilmington-based ATSG, which launched Amazon’s air operation, said: “While we had hoped that Amazon would choose to expand the sortation and other logistics operations we manage for them here at the Wilmington Air Park and bring more jobs in southwestern Ohio, we certainly appreciate their confidence in our ability to support the development, launch and expansion of the dedicated air network that began here sixteen months ago. “The fifteen Boeing 767 freighters we lease to and operate for Amazon, plus five more coming this year, make us proud to be a part of their growth, and we remain committed to support their efforts to delight Amazon customers around the world with exceptional service every day.”A spokesman added: “We will continue to lease and operate aircraft for Amazon under our agreements with them, as well as provide ground services for their air network wherever needed.” Amazon has offered to relocate its Wilmington staff to Kentucky. Dave Clark, Amazon senior vice president of worldwide operations, said: “As we considered places for the long-term home for our air hub operations, Hebron quickly rose to the top of the list with a large, skilled workforce, centralised location with great connectivity to our nearby fulfillment locations, and an excellent quality of living for employees.”Amazon recently announced plans to create more than 100,000 jobs across the US over the next 18 months. It was not available to comment before publication. By Alex Lennane 01/02/2017 Amazon is to shift its Prime Air hub from Wilmington, Ohio, home of aircraft supplier ATSG, to Cincinnati, Kentucky.The move, in which Amazon will invest $1.49bn into its new CVG hub in Hebron, has triggered further speculation on the e-tailer’s growing interest in logistics.Amazon has agreed a 50-year lease on some 900 acres at the airport, similar to the size of the FedEx hub at Memphis, and expects to create more than 2,000 jobs when the site opens. A spokeswoman told The Loadstar that Amazon would “transition to utilising CVG this spring”.Colin Sebastian, an analyst for Baird Equity Research, said in a note to clients: “We estimate a $400bn-plus market opportunity for Amazon in delivery, freight forwarding, and contract logistics,” according to Reuters.last_img read more

News / Ocean Network Express CEO admits what went wrong and unveils recovery strategy

first_img The Ocean Network Express (ONE) management “underestimated the initial launch resource requirement” in April, resulting in a significant loss of business and a $400m impact on its bottom line.This was the stark admission of chief executive Jeremy Nixon to a group of investors in Tokyo this week.Profitability from synergy cost savings of $1bn a year was promised from the merger of the container businesses of Japanese shipping groups K Line, MOL and NYK – instead the carrier expects a net loss of $600m for its first year of operation.The root cause of the disastrous launch was “inevitable teething challenges”, including a lack of staff, staff familiarisation with the adopted NYK systems and “system data integrity”.Mr Nixon explained that during the height of the problems, booking and documentation staff had worked weekends and holidays in an endeavour to eliminate the launch backlog. Daily crisis meetings of senior management were held to address the issues and “kaizen” (improvement) teams were despatched to all operations centres to help revive communications.But there was a gross underestimation of ONE’s resource requirements and emergency measures also included outside recruitment.Loyal shipper customers of the Japanese carriers deserted the new entity in droves after the collapse of its booking and documentation systems. According to ONE statistics, vessel utilisation plunged to low 70% levels on both the Asia-to-US and Asia-to-Europe headhaul trades from previous individual load factors of more than 90%.And rival carriers, both inside and outside ONE’s alliance, were quick to pick up the slack.Alphaliner said recently CMA CGM and Cosco had been the biggest beneficiaries on the transpacific and on Asia-to-Europe, Hapag-Lloyd’s growth was robust as the lead line of THE Alliance.Moreover, the carrier network was “unable to collect all” the detention and demurrage charges due in the first six months, which would have resulted in ONE being obliged to pick up the tab for quay rent and extra container hire charges at terminals around the world, and for the leased equipment.Mr Nixon explained that ONE’s “group 1” rehabilitation plan consisted of the “recovery of liftings” across its main tradelanes and the “enhancement of detention and demurrage collection”.For next year, he said, the “group 2 action plan toward restructuring” will include cargo portfolio optimisation, product optimisation, organisation and synergistic effects.Meanwhile, utilisation levels have gone back to 90%+ levels on ONE’s transpacific and Asia-Europe headhaul trades, and the carrier’s management can turn its attention to the roll-out of 2019 contracts, which will include its new floating BAF application. By Mike Wackett 29/11/2018last_img read more

People / New appointments complete a ‘strong leadership team’ at Delta Cargo

first_img By Alex Lennane 11/09/2019 Delta Cargo has created a new role, vice president cargo operations and logistics, and has appointed DP World’s Rob Walpole (pictured). Mr Walpole will lead the cargo department’s global operations and the Delta Logistics Control Center teams. He was previously chief operating officer for DP World’s global logistics and supply chain, and has also been chief executive of Schenker Inc. “Rob has a strong operational background and brings extensive leadership experience in the logistics and supply chain sector,” said Shawn Cole, vice president of Delta Cargo. “We look forward to his contributions as we continue to build on the record operational performance achieved in the first half of 2019.” Delta Cargo has also appointed Matt Weisenburg as director of cargo strategy and alliances. Previously director of cargo pricing and revenue management, he replaces Lindsey Jalil who has moved to another position within Delta. And Mark DeFrancesco has become managing director for revenue management, capacity and forecasting. He joins the cargo division from Delta’s domestic pricing team.  (Chris Rank for Rank Studios)center_img Mr Cole added: “These changes complete our strong leadership team, as we continue to focus on providing our customers with industry leading products and services, as well as growing our international network.”last_img read more

News / ‘Perfect storm’ creates ‘supply chain misery’ for unhappy port of Felixstowe

first_img High winds over the weekend in the UK, added to slow-working at the port of Felixstowe and the cyber-attack on CMA CGM, will result in “supply chain misery for weeks”, according to sources.One UK NVOCC told The Loadstar the continuing problems with Felixstowe’s vehicle booking system had caused “chaos”, and it had led to carriers diverting ships at the last minute to London Gateway and Southampton,“I didn’t think it could get any worse, until I came in yesterday to find CMA CGM had been hit by a cyber-attack and they couldn’t release B/Ls or do much else,” he said.“We have our retailer customers screaming at us, as they are desperate to fill their shelves to get an early start to Christmas, in case the Covid lockdowns get harsher, and of course they have no interest in the vehicle booking system at Felixstowe, they just want their products.“And I can’t see the delivery situation getting any better any time soon; I can only see supply chain misery for weeks ahead,” he added.The Loadstar understands that CMA CGM’s UK office has begun taking manual bookings for Southampton calls, while its latest haulage-availability spreadsheet, sent to customers today and seen by The Loadstar shows that it will not take bookings to and from any port in the UK to any inland destination until at least 12 October.In a customer advisory sent today, CMA CGM UK said that while it continued to be unable take bookings at its website, “INTTRA, GT Nexus and other platforms that are used to send booking into CMA CGM are working. We encourage you to use these platforms if you have access.”It added that it could also accept bookings made via a booking template on an excel spreadsheet attacked to an email.Meanwhile, Felixstowe said on Friday “measures to manage the flow of containers to and from the port are having a positive impact”.It said it had released 1,600 additional VBS slots, as well as extending Sunday opening hours for road haulage, and was seeing the first intake of new operational staff as part of its recruitment of 100 more equipment drivers.The port claimed that, “on average there were 749 VBS slots unused each day”, which has baffled hauliers, who remain adamant they cannot get bookings and have shown The Loadstar screenshots showing zero availability.The port has again apologised to “any customers experiencing delays”, and said it was confident that the measures it had taken and the “close cooperation with our partners, will address these operational challenges”.However, according to an internal staff memo seen by The Loadstar last week, the port had so far received confirmation that seven main line vessels would “divert to competitor ports over the coming weeks”. And the port will also lose several feeder calls, following the diversion of mother vessels.“At the moment these are just a series of one-off diversions, but we have to accept that there is now a real threat for these calls to be on a permanent basis,” said the memo.It added: “We have a lot of unhappy customers,” and was requesting “a call to arms” from staff to reverse the decline in productivity at the port, which it said had resulted in a loss of market share, “as the competition has out-performed us”. By Mike Wackett 29/09/2020 Photo 62673087 © Atgimages – Dreamstime.comlast_img read more

Premium / EXCLUSIVE Snapshot: Jumping for joy as Toll regains its fighting spirit

first_img Forgotten your password? Please click here A couple of interesting reads hit the wires in the past few days adding to the Toll Group story, not because the disclosed events and talk weren’t broadly public knowledge already but they could help accelerate the corporate sale process in Melbourne. That’s my take on it, anyway.On top of that, more importantly perhaps, an internal announcement was made earlier this month by commander-in-chief Thomas Knudsen  – very conveniently for the corporate sale angle, it points to significantly brighter business … Email* Reset Email* Please Login << Go back Premium subscriber LOGIN Reset Your Password LOGIN Please either REGISTER or login below to continue Password* Subscription required for Premium stories In order to view the entire article please login with a valid subscription below or register an account and subscribe to Premium By Alessandro Pasetti 26/10/2020 New Premium subscriber REGISTERlast_img read more

Maersk in deal to provide global logistics to deliver Covid vaccine for Covaxx

first_img By Alexander Whiteman 27/10/2020 Maersk is partnering with US drug manufacturer Covaxx to provide logistics support for the delivery of  Covid-19 vaccines.Although several airlines have announced plans to be ready to transport an expected vaccine, Maersk is the first shipping line to proactively prepare for what has been described as “the biggest product launch in history”.One source told The Loadstar: “This is a big, big step for Maersk, because as it stands there is no vaccine and no one knows for sure if there will be one.”The agreement with Covaxx lays out a framework for all transport and supply chain services to deliver the vaccine around the world, but the potential vaccine itself remains a “candidate” for regulatory approval from authorities.Known as candidate UB-612, a vaccine is undergoing Phase 1 clinical trials in Thailand, with an agreement for Phase 2 trials to be conducted in the US in place.To date, it has secured pre-commitment orders for over 100 million doses globally, and last month Covaxx reached an agreement with Brazil’s largest diagnostic medical company to conduct “large-scale” human efficacy clinical trials.Co-CEO of Covaxx Mei Mei Hu said the agreement with Maersk was necessary to ensure the ability to deliver its potential vaccine, while head of special project logistics at Maersk Rob Townley said the line’s “specialised” logistics expertise put it in good stead for the vaccine’s roll-out, with the drug manufacturer planning to have dispatched one billion doses by the end of 2021.“Efficient and safe delivery of Covid-19 vaccines around the world is the most urgent logistics challenge we face today,” said Mr Townley.“AP Møller-Maersk is committed to working closely with Covaxx to ensure smooth end-to-end global delivery of this vaccine as soon as it becomes available.” © David Tulchinsky | Dreamstime.com – Maersk shipping container, trucklast_img read more

News / Exec joined logistics group ‘to steal expertise and data to set up his own firm’, claim

first_img Digital forwarder Beacon has slammed a lawsuit in the US alleging its founder misappropriated confidential information as “entirely without merit”.Vanguard Logistics yesterday filed a lawsuit against former Uber executive Fraser Robinson, alleging that with another former executive of Uber, Mr Robinson sought to “pilfer” confidential information from Vanguard.A spokesperson for Beacon told The Loadstar that the company had been taken unawares by the lawsuit.The spokesperson said: “The papers have not been issued by the court and have not been served. What we’ve seen so far is an ill-thought out action which is entirely without merit and which has been brought in the wrong jurisdiction.“Any claim will be robustly defended.”Filed with central California’s US District Court, the complaint, seen by The Loadstar, accuses Mr Robinson of multiple contract breaches, fraud, misrepresentation and misappropriation.Central to the complaint is the allegation that Mr Robinson deceived Vanguard by joining its board and “stealing [Vanguard’s] most confidential information and using it to secretly establish a rival company”.The lawsuit claims Mr Robinson had planned to found a logistics company nine months before joining Vanguard, but that he lacked “expertise…experience, data, technology”.It alleges: “Rather than invest the time and resources to acquire it lawfully, however, upon information and belief, Robinson opted instead to steal it from an existing logistics and shipping company.“His strategy – as he later let slip to [a] reporter – was to spend time inside such a company obtaining the information he would need to create Beacon.”The suit claims he pitched himself to Vanguard’s owners as being able to use development and marketing skills accrued at Uber to leverage technology and “rapidly expand” into EMEA markets.A company spokesperson said: “We trusted [him] as a director and fiduciary, this included legal stipulations around non-disclosures and protection of Vanguard’s IP; he betrayed that trust.“It is fitting that Fraser Robinson launched a company named Beacon, a word that describes a warning signal. Anybody doing business with him should certainly beware.”UK-based Beacon was incorporated in November 2018, when, Vanguard claims, Mr Robinson was bound by non-compete and non-disclosure clauses. © Wave Break Media Ltd By Alexander Whiteman 29/10/2020last_img read more

News / Asean box trade with the US growing faster than China’s as sourcing shifts

first_imgBy Sam Whelan 12/04/2021 South-east Asia’s container trade with the US is growing faster than China’s, highlighting the region’s shifting sourcing patterns.According to the Japan Maritime Center (JMC), the share of US container imports originating in Asean broke through 20% for the first time last year – while China’s share declined for the second successive year.Asean volumes were up 16.1% to 4m teu, bringing the region’s total share to 21.9%, while volumes originating in China (excluding Hong Kong), increased just 2.4% to 10.8m teu, resulting in a 0.9% loss in market share.However, China-origin cargo still accounts for almost 60% of total US imports.The JMC data shows the furniture and home electronics categories recorded the biggest volume growth from Asean, reflecting lockdown shopping trends in the US, with respective increases of 13.1% and 29.4%.Vietnam-origin cargo was the biggest winner, however, volumes shooting up 24.8% to 1.99m teu, and bringing the country’s share of US imports to 10.8%.Shipping lines have reacted to the gradual shift of sourcing to South-east Asia by adding direct calls from the region, particularly on transpacific trades.For example, in March, MSC said it was bolstering trade between South-east Asia and the US west coast with a new Sentosa service, which directly links Laem Chabang and Vung Tau (Cai Mep) with Long Beach.Meanwhile, according to the Asean+3 Macroeconomic Research Office (AMRO), while the Covid-crisis has “exposed the vulnerabilities” of global value chains (GVCs), South-east Asia is “still well-positioned to benefit”.Hoe Ee Khor, AMRO’s chief economist, said: “Although we have seen some cross-border relocation of GVCs globally, the Asean+3 region will remain a highly attractive location for GVC investment in the post-pandemic world. GVCs are an integral part of Asean+3 economies, taking up half of their regional and global trade volumes, and driving regional growth.“Disruption brought about by natural disasters, trade tensions and the pandemic have restarted a debate over future trade regimes and possible GVC reconfiguration, presenting the region with both challenges and opportunities.“A China+1 strategy, where China remains the main supply and consumer node but certain operations are relocated to its neighbours, will improve resilience and diversification.”last_img read more