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Pinewood investor ups ante on Grade

first_img KCS-content Tags: NULL Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Pinewood investor ups ante on Grade Share Sunday 22 August 2010 10:37 pm MICHAEL Grade has come under fresh fire for his performance as chairman at Pinewood Studios, with activist investor Crystal Amber calling another meeting at this week’s results announcement to discuss his departure from the firm.“We are meeting with the management team on Wednesday, and are in correspondence with other shareholders,” Crystal Amber chief executive Richard Bernstein told City A.M.“Our problem isn’t with the other shareholders; it’s with the management of Pinewood.”Crystal Amber has upped its stake in the film maker from 18 to 27 per cent since Pinewood’s AGM in June, when it urged Grade to step down following poor performance.It has overtaken Peel Holdings as the largest shareholder ahead of Pinewood’s half-year results this week.However smaller shareholders Aberdeen Asset Management and SVG Capital, which hold 10.1 and 7.6 per cent stakes respectively, remain staunchly loyal to the chief executive.“We are wholly supportive of Grade, and the campaign against him is damaging and wrong,” a spokesperson for SVG told City A.M. yesterday. Grade, who is also chairman at online grocer Ocado, has withstood several attempts to oust him from Pinewood since he joined in 1999.Since 2004 the firm’s profit before tax has fallen 56 per cent from £10.1m to £4.4m, while its operating margin has decreased from 33.5 per cent to just 18.9 per cent.Pinewood did not respond to calls for comment. whatsapp whatsapplast_img read more

Deal could cause unwanted side effects

first_img Tags: NULL whatsapp KCS-content whatsapp THE FRENCH must be returning from their month-long summer sojourn, because Sanofi-Aventis’ long-awaited bid for US-based Genzyme is finally upon us. Sanofi’s timing probably has more to do with pesky patents than the vagaries of continental holidays, however. Last week, the French drugmaker failed in a last-ditch attempt to stop the approval of generic versions of Lovenox, its blockbuster blood-thinning drug. Sanofi says it will fight on, but the Lovenox cash cow – which accounts for some $4bn (£2.6bn) of group sales – is close to death.With the cupboard marked “blockbuster drugs” worryingly empty, Sanofi has to pull something off quickly. It could continue to cut costs and push into emerging markets, a direction that has served it well so far. But neither strategy solves its central problem: the bulk of its best-selling drugs will lose their patents in the next few years. That means Sanofi boss Chris Viehbacher – an acquisitive chief executive who notched up some 33 tie-ups and deals last year – will have to hit the buyout trail once again. His reasons for settling on Genzyme are not immediately clear. The US firm is bedevilled by production problems and has a troubled relationship with regulators. But, like Ireland-based Shire, it focuses on niche high-margin treatments for rare genetic diseases, making it less vulnerable to generic rivals. In that sense, a deal makes sense. Sanofi has the scale to help solve Genzyme’s structural problems, while Genzyme makes products that are relatively safe from generic insurgents. As with all big pharma deals, there are likely to be a plethora of unknown side effects, however, meaning shareholders should read the label carefully. Monday 30 August 2010 9:02 pmcenter_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Share Show Comments ▼ Deal could cause unwanted side effects Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoBetterBe20 Stunning Female AthletesBetterBeUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndolast_img read more

Lloyds launches a thirty-year sterling bond

first_img KCS-content Show Comments ▼ More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsapp Sharecenter_img Lloyds launches a thirty-year sterling bond LLOYDS Banking Group launched a rare 30-year senior sterling bond yesterday, capitalising on the upbeat tone of the credit markets and on demand from pension funds and insurers for long-dated sterling assets.The bond deal is the bank’s first ever sterling issue with a 30-year maturity, an official with the bank said.Initial guidance on the bond was at UK gilts plus around 250 basis points.“There is natural demand from UK pension funds and insurers because they have long-duration liabilities such as annuities,” said one financial sector analyst at a UK-based asset manager.Lloyds has done relatively few senior bond deals this year, but this month has joined in a rush by European banks to raise cash via the bond markets. Banks have seized the chance to tap cash-rich investors and take advantage of positive sentiment towards credit versus equities due to fears of a fresh economic slowdown.At the start of September, for example, Lloyds raised £1.04bn with a five year senior bond at a spread of 200 basis points over mid-swaps.The managing banks on the 30-year deal are Lloyds, Barclays and HSB. whatsapp Tags: NULL Wednesday 15 September 2010 8:42 pmlast_img read more

Tempting M&A deals can risk wrecking value

first_img Tempting M&A deals can risk wrecking value whatsapp Sunday 19 September 2010 10:06 pm Share whatsapp Show Comments ▼center_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.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.orgRussell 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.com Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoPeople-TodayWoman Files For Divorce After Seeing This PhotoPeople-TodayUndo KCS-content THE return of global M&A in 2010 has been cited as unambiguous evidence corporations are feeling more confident about themselves. The wealth of mega-deals on both sides of the Atlantic is surely a sign we are on the path to the broader macro-economic recovery we all crave. However, the tragedy is that a large amount of this merger activity will turn out to have been a complete waste of money.There is strong evidence to suggest that, for every penny of money spent on good acquisitions, there is at least another wasted on deals which, even at the time – let alone with hindsight – are examples of boardroom folly and ego. In terms of ultimate shareholder returns, using free cashflow to increase dividends has historically wiped the floor, compared with the alternative of using that cash for acquisitions.From Vodafone to RBS, from Marconi to GlaxoSmithKline, the waste has been dramatic. To use just one example, take a look at the value of GlaxoSmithKline back in January 2000, at the time of the merger that was supposed to create a pharmaceutical titan that would be a catalyst for stunning growth. In January 2000, GSK was valued on the market at £114bn. And today? The market cap as of Friday was around £66bn. A decade and a fall in value of £50bn.Companies still don’t appear to be learning the lessons. Take a look at Hewlett Packard’s frenzied bidding for data storage group 3Par. Was the near $2bn (£1.28bn) price tag a fair deal for a company that has not made money for five years? Or was it all about beating Dell? Unfortunately, this deal has not been, nor will it be, the only example of the wasting of shareholder funds as companies pile on the cash.Bob Parker, senior advisor at Credit Suisse, draws my attention to the cash mountain being stashed up by corporates everywhere. US non-financial cash-asset ratios are at 25 year highs.“Last year there was sensational value and opportunities in distressed companies but, while it is impossible to generalise, more and more companies are going to be overpaying and regretting it later,” says Parker.It isn’t only the companies themselves who are to blame. One FTSE 100 boss told me that he won’t even talk to City dealmakers anymore, adding: “I am fed up to the teeth with 30-year- old investment bankers, who have absolutely no experience in my industry, telling me about the industrial logic for this disposal or that bolt on acquisition. What do these people know?”Not all CEOs have the iron will to resist the City and Wall Street’s snake oil salesmen. The sorry reality is that hard fought financial stability can be lost in one moment of M&A madness.Steve Sedgwick is a presenter on Squawk Box Europe each weekday morning on CNBC. Tags: NULLlast_img read more

Minerva

first_img whatsapp Tuesday 21 September 2010 8:01 pm KCS-content Show Comments ▼ TENANTS should be banging Minerva’s door down. Its futuristic Walbrook development, which boasts 440,000 square feet, is one of the only buildings capable of housing a large tenant within the Square Mile. But it has lost out on some important signings – BlackRock went to Songbird’s Drapers Gardens while Macquarie signed a lease at British Land’s Ropemaker – and things don’t seem to be improving. Now it looks like Bloomberg is close to signing a pre-let at Legal and General’s Walbrook Square: another one is about to bite the dust. Minerva’s silence on prospective tenants for its largest City development suggests it will be 2011 before a firm moves in.An ever longer delay would be bad for cash flow, which is already a cause for concern. Cash flow from operating activity was -£45m in 2010, and an empty Walbrook would likely mean a further drain in the region of £10m a year, due to empty rates and service charges. Minerva is right to point to the stellar growth in its net asset value since. But it doesn’t count for much if those assets are empty. Sharecenter_img Minerva Tags: NULL More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comlast_img read more

London faces Tube chaos

first_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comConnecticut man dies after crashing Harley into live bearnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Share Sunday 3 October 2010 11:29 pm London faces Tube chaos KCS-content whatsappcenter_img whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Show Comments ▼ LONDONERS are facing another gruelling day of commuting across the capital as London Underground (LU) workers launch a second 24-hour strike in as many months.The walkout, which will finish at 6:28pm tonight, will cause extreme disruption to this morning’s commute as the entire Underground network is affected by the action.At 6:29pm yesterday, over 10,000 Tube staff walked off the job in protest at planned staffing cuts by LU management that would see more than 800 jobs axed.TfL has added 100 extra buses on the roads today, increased the capacity of the Thames river services and has organised marshalled taxis in a bid to deal with the strike and help commuters get around the city.The public transport group said it ran one-third of underground trains during the last strike.Tube unions the RMT and Transport Salaried Staffs’ Association (TSSA) have warned that the job cuts pose severe safety risks to workers and the public, but Transport for London (TfL) said that changes to staffing levels were unavoidable. Mayor Boris Johnson, said: “As we saw in the last strike, the belligerent actions of the union leaderships will not bring London to a halt.” Tags: NULLlast_img read more

HOW THE BANK LEVY WILL WORK

first_img KCS-content whatsapp Q.WHAT LEVEL IS THE LEVY BEING SET AT?A.The government gave no details on the rate at which the levy will be set. When it first unveiled plans in June, it said the initial rate would be 0.04 per cent rising to 0.07 per cent in 2012-13. However, many analysts think that rate is too high if the exchequer wants to cap the amount of revenue raised at £2.5bn.?The first £20bn of assets is tax-free. Q.WHAT CONCESSIONS DID THE BANKS EXTRACT?A.Unprotected customer deposits will be levied at half the rate of other “risky assets” like wholesale funding. Asia-focused banks like HSBC and Standard Chartered, argued that they would be disproportionately affected, because Asian depositors are not normally protected by the government.Q.WOULD BANKS PAY LESS BY MOVING OFFSHORE?A.Some banks would, yes. Foreign banks only have to pay the levy on their UK operations. So if HSBC were to move to Hong Kong, it wouldn’t have to pay the levy on any foreign assets at all?– just British ones – saving it a considerable amount. However, some foreign banks could be levied twice, if their home countries adopt a similar tax. The Treasury says it will give relief to banks being taxed twice but it hasn’t come forward with details on how it expects to do this. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Sharecenter_img Thursday 21 October 2010 8:57 pm whatsapp Show Comments ▼ HOW THE BANK LEVY WILL WORK Tags: NULLlast_img read more

PM condemns firemen Bonfire Night strike plan

first_img whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap KCS-content Show Comments ▼ whatsapp Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald PM condemns firemen Bonfire Night strike plan Tuesday 26 October 2010 8:13 pm Tags: NULL LONDON’S 5,600 firefighters have been heavily criticised for their plans to walk out on strike on Bonfire Night next Friday.Fire Brigades Union (FBU) members are set to stage a 47 hour strike from 5 to 7 November unless the London Fire Brigade (LFB) withdraws what the union has described as a “sacking letter” sent to all staff. However, the Prime Minister’s spokesman yesterday described the strike plans as reckless, adding: “The public would not think this is a responsible way of conducting industrial action to choose this particular day for a strike.”LFB chairman Brian Coleman disputed the union’s claims, saying yesterday: “There are no cuts, no job losses, this is about reducing a 15 hour night shift, adding those hours to the day shift and doing more community safety work and firefighter training.”FBU general secretary Matt Wrack said workers had no choice but to strike, and added in a statement: “There’s still nearly two weeks for the London Fire Brigade to get this right. Show a little respect for your firefighters.”London mayor Boris Johnson said there are contingency plans in place to deal with further strikes. last_img read more

Persimmon wary as UK housing market struggles

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULL Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For Life whatsapp KCS-content center_img Show Comments ▼ HOUSEBUILDER Persimmon warned yesterday that the housing market remained flat throughout autumn, with a lack of available mortgages and mounting consumer worries stunting sales. Persimmon, which posted a 27 per cent jump in annual revenue in August, said it has reached sales targets for the year and has homes worth £460m reserved for 2011. However, reservations are eight per cent below the same time last year, and the company said the expected spring rush will be a crucial indicator for the state of the market. The company admitted it had not experienced a boom in autumn, a traditionally busy time as potential buyers return from summer breaks. “Mortgage availability remains a major obstacle for customers,” the firm said in a trading update. Persimmon added it expected to complete 9,400 homes this year, a five per cent rise on last year.The business added its sales are expected to rise 10 per cent this year. The firm said its core margins are expected to double in 2010 to eight per cent. It will reduce its borrowings to less than £80m by the end of the year, which is £20m ahead of its previous guidance. Shares closed down 0.8 per cent up at 357p yesterday. whatsapp Persimmon wary as UK housing market struggles Monday 15 November 2010 8:28 pmlast_img read more

Cross border transfers level out

first_img Share Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tags: NULL Show Comments ▼ KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Foreign Direct Investment (FDI) is remaining flat as the year nears its end, after a long period of decline, according to the Organisation of Economic Co-operation and Development (OECD). The rate is still expected to fall this year, by around eight per cent, yet this is a significant improvement on the 43 per cent fall last year. Investment prospects for next year depend partly on whether countries avoid protectionism or conflict over foreign exchange policies, the OECD said. center_img whatsapp whatsapp Cross border transfers level out Thursday 2 December 2010 7:30 pm last_img read more