first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailGrowitchRemember Penny From The Big Bang Theory? This Is Her NowGrowitchNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comOpulent ExpressNewborn Quadruplets Left Doctors Staggered — They Are One In A MillionOpulent ExpressMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite Herald Share KCS-content whatsapp Show Comments ▼ whatsapp BANKERS have renewed warnings of a talent exodus from the UK as the financial watchdog begins consulting the City on a tough set of bonus and pay rules drafted in Europe.The Financial Services Authority (FSA) is engaging with institutions and shareholders over plans to cap the upfront cash portion of large rewards at 20 per cent and stagger the remainder over five years. Although the EU standards will not come into effect until January, most UK lenders have already tightened their remuneration policies in line with demands set out by the G20.After the bumper second quarter earnings season prompted a fresh flurry of criticism of pay levels, British Bankers’ Association chief executive Angela Knight warned that skilled workers would flee for America and Asia.“When you consider the extraordinary commentary we saw a fortnight ago in which the return to profitability [of banks] seemed to be a bad thing, you realise policymakers are not recognising reality,” she said. “Around the world, the US shows no inclination to follow what we’re doing and the Far East is just getting on with the job. Either we pay the going rate or we lose the business.”Barclays and Standard Chartered have also hinted at plans to move their domiciles given chancellor George Osborne’s levy on bank balance sheets, to be introduced at the same time as the EU’s pay strictures.Barclays chairman Marcus Agius said at the time of the bank’s interim numbers: “We have planned carefully… I’m sure all banks are considering what their options are.”Standard Chartered chief executive Peter Sands said: “There is no doubt the arguments for London have weakened relative to other centres… We’ve been looking at it more because we’re asked about it more by our investors.”Sands particularly criticised Osborne’s levy as “complicated to implement”. He suggested increased corporation tax would be a simpler and more effective tool.HSBC, run by Michael Geoghegan, yesterday confirmed it would hold its three-yearly review of its domicile in 2011 as scheduled. But a source said there were no plans to leave the UK. Bankers warn of brain drain as rules loom Sunday 15 August 2010 10:42 pm Tags: NULLlast_img read more

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first_imgMonday 4 October 2010 8:34 pm More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.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.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.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com KCS-content whatsapp whatsapp Show Comments ▼ Share SHARES in Premier Foods shot up more than 10 per cent yesterday in response to the news that it may sell its Quorn brand to an unnamed suitor. The FTSE 250-listed firm closed up 10.43 per cent yesterday at 17.9p. The shares remain nearly 60 per cent short of their 12-month high. Premier confirmed on Sunday it had received an approach for its meat-free division, which includes Quorn and Cauldron Foods. The company would not reveal who the interested party was, or what the asking price would be. Analysts estimated the division could sell for between £200m to £250m yesterday. Quorn represents a small slice of Premier, with sales last year of £118m, or 4.4 per cent of total turnover. The company said in August it would pay off £100m of debt per year, in a fresh attempt to cut its £1.4bn debt pile. “A disposal such as Quorn would be an encouraging step, however there will be no silver bullet and debt will remain high, with the company still locked into expensive swap agreements,” warned Warren Ackerman of Evolution Securities. Institutional shareholders such as Paulson & Co, Warburg Pincus and Franklin Templeton are thought to have increased pressure on the company to speed up its plans to unload debt. Chief executive Robert Schofield launched a £400m debt restructuring and cash call in 2009 to avoid breaching banking covenants. Several analysts raised concerns that the company risks selling its cash-generating brands for scant return. “Quorn is the one of the few areas of the company that has long-term international growth potential. This means the big fast-moving consumer goods players will be taking notice, but at the same time it is one of the company’s crown jewels,” said Shore Capital analyst Darren Shirley. Talk of Quorn sell-off ignites Premier stock Tags: NULLlast_img read more

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first_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 PastMoneyPailShe 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 TimesTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm KCS-content Cable under Sky pressure Share MEDIA giants yesterday united against Rupert Murdoch’s plans to buy BSkyB in an £8bn deal.DMGT’s Associated Newspapers, the Telegraph Media Group, Trinity Mirror and Guardian Media Groupwrote a joint letter urging business secretary Vince Cable to intervene in the deal. The BBC, Channel 4 and BT also signed the letter. They argue the acquisition would seriously compromise media plurality, with the Murdoch empire already owning the Times, Sun and News of the World newspapers. Murdoch currently owns 39 per cent of the satellite broadcaster and has proposed a 700p-a-share buyout that would value the firm at £8bn. News Corp is expected to file for regulatory approval with the European Commission. After this Cable could chose to initiate a full enquiry into the deal on the grounds of public interest. whatsapp center_img Show Comments ▼ Monday 11 October 2010 9:51 pm Tags: NULL More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPuffer fish snaps a selfie with lucky divernypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.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 whatsapplast_img read more

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first_img KCS-content Sunday 24 October 2010 10:14 pm Meet the CEO of the most important City firm you have never heard of by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity 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 whatsapp Share Show Comments ▼ whatsapp As he saunters into his office in the City, Tim Howell, the chief executive of European settlement house Euroclear, looks cool and collected. He certainly doesn’t look like a man caught in the most classic of all business squeezes – with clients wanting him to improve his services while being adamant they should pay less for them.Euroclear is in the middle of building a multimillion-pound system, called the Single Platform, to help speed cross-border settlements in the Eurozone. But it is also fending off competition from the EU which plans to do the same thing with its planned Target2 Securities network (T2S). And while all this is going on, key users like the London Stock Exchange (LSE) have demanded price cuts as a result of the cut-throat competition among bourses. “Frankly, most of what we do for the investor is a pain,” says Howell, 50, who took up his post in April, after moving from HSBC where he was global head of securities services. “Traders want what we do to happen seamlessly, with the least amount of risk, and for a good price.”Howell is sitting in a smart steel and glass meeting room in the firm’s Cannon Street offices for his meeting with City A.M.. Howell, however, is actually based in Brussels and spends much of his time commuting between head office and his home in west Sussex. Euroclear fits neatly into the biggest-company-you-have-never-heard-of category. In Europe, it dominates the third and final part of share and bond trading – settlement. This takes place after a decision to buy or sell has been made at an exchange, and that position has been guaranteed and reconciled at a clearing house. At Euroclear, payment is taken on the trade and the asset changes hands to the new owner.Euroclear, which was spun out of JPMorgan’s Brussels office in 2000, processes just over half the bonds and 60 per cent of the equities traded in Europe. This means that last year the business processed €513.5 trillion of transactions, an eight per cent fall on 2008. It also held €20.2 trillion of securities for its clients, 12 per cent higher than the year before. In terms of sheer volume it settled 179.6m trades in 2009. The numbers are truly breathtaking.The firm’s range of clients include investment banks like Goldman Sachs and Credit Suisse, the central bank of Brazil or Germany, or exchanges like the LSE or Chi-X. The business, which employs 4,000 staff, is owned by a collection of banks including HSBC, Barclays, Citigroup and Credit Suisse; none hold more than a six per cent stake.Trading costs in Europe are far higher than they are in the US, and regulators as well as market players argue a key way to bring down costs is to link up country networks to make the process seamless.This was in impetus behind Euroclear’s Single Platform, begun in 2005, which last January succeeded in linking up trading systems in France, the Netherlands and Belgium. Howell says: “It took around five years of talks beforehand to get this done. Half to agree on the rule changes that were needed, and half to build a system on the back of that.”The Euroclear chief says the EU’s 27 nations all have different settlement methods, and that the desire is that all will gradually move to a common standard, which will make trading faster and cheaper.However, just before the financial collapse, the EU itself announced that it would build its own system, T2S, which is due to roll out from 2014 and aims to bring down post trade costs by up to 90 per cent. Howell, though is sceptical is that this tight timetable can be met in light of the recession and the vast, ongoing regulatory shake-up. The Euroclear boss says: “It is extremely hard to get everyone around the table to discuss literally hundreds of rule changes. Part of the trouble is that a lot of these changes need government legislation. And at a time when many of these administrations are putting through difficult austerity measures, it is hard to justify setting aside time to debate changing something like financial settlement rules.”When T2S was first mooted many thought it would severely damage the sales of Euroclear and rivals like Clearstream, which is owned by Deutsche Borse.But Howell is more relaxed about it now as its introduction may be some way off. He says: “It will take some settlement income away from us, but if volumes go up this could be negligible.”And he adds that Euroclear has adapted the building of its Single Platform so that it will be able to plug into the T2S network whenever it is brought into service.Last year Euroclear made a loss of €38.4m, compared to a profit of €261.7m the year before. The firm puts this down to writing down €185m of the value of several rivals it bought with its paper in Sweden and Finland, as well as the UK share matching business Xtrakter, over the last decade.However, Howell is quick to point out that this does nothing to affect the cash the company has at hand. Last year it posted operating income down 18 per cent at €934m, due in the main to levels of trading that are around 15 per cent down from their 2007 peak. Howell says: “We are trading satisfactorily, we are highly capitalised, highly rated and highly liquid. During the financial crisis we were able to trade normally because our single purpose bank business model allowed us access to capital.”Euroclear makes the majority of its cash through charging for settlements as well as charging for looking after the cash for clients that remains on its books over extended periods of time.But the impact of the crisis has been profound on the settlement business; it has shifted the focus from expansion to security and pricing issues.Howell says: “It fair to say that these things are a dichotomy, because it costs money to build secure systems. But people are a lot more focused on cost now. They thought risk was a commodity, that everyone did the same things with the same amount of security. People didn’t believe you would not get paid for your asset. That is not the case anymore, because we have seen it happen. But now people are asking, is there a price for a secure system below which the risk is too great?”The focus on price can be seen in the public spat between Euroclear and the LSE earlier this year. LSE boss Xavier Rolet said that post trade costs were worth as much as 60 per cent of a trade and demanded Euroclear cut its costs. Euroclear argued that their part of post trade was only five per cent of LSE client costs. But after much public horsetrading, Euroclear did cut the fee it charged the London exchange to £0.009 a trade from £0.022, by moving to a net rather than a gross charge, which saves large clients as much as £10m a year.Howell says: “This should has been a normal negotiation that should have been conducted slightly less openly. There was a lot of emotion attached to these talks at the time, which we had to let run out of the discussion. The cost to us was a small proportion of our overall business.”Howell is prepared for the onslaught of EU regulation he feels is bound to come as a result of the financial crisis. He says: “It is right that regulators and central bankers look to calm the shocks that people thought would never happen.”Although he is not expecting radical change in his area of the market as he says settlement costs are widely seen as “low risk elements of the financial system.”His main regulatory concern are “unintended consequences. It is very easy to get into a state where things happen accidently. We plan to get very involved in the details of plans which will affect us.” He says he was in a meeting with lawmakers in Washington last week and “spent two hours discussing the meaning of the word relevant in a draft document.”Capacity expansion, pressure on pricing, boosting the security of its systems and debating semantics with regulators – Tim Howell has plenty on his to-do list to keep him busy as he sorts out one of the key bits of infrastructure underpinning London’s financial services industry. Euroclear may be unknown outside of the City – but in finance, as with the rest of life, one should never underestimate the importance of what happens behind the scenes. CV | TIM HOWELLAge: 50Work: Howell joined Euroclear in April 2010 as chief executive from HSBC where he was global head of HSBC Securities Services, responsible for the custody, fund administration and corporate trust businesses of the HSBC Group since 2005. Previously, he was group treasurer, responsible for asset and liability management from 1999, and head of market risk for the HSBC Group when he joined the company in 1990. Before that he was director of corporate finance at CIBC Corporate Finance, and an accountant at Samuel Montagu and Arthur Andersen Education: University of BirminghamFamily: Married, two children Tags: NULLlast_img read more

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first_img KCS-content Thursday 28 October 2010 9:11 pm 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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Share Show Comments ▼ Exxon Mobil, the world’s largest publicly traded oil company, yesterday said its quarterly profit rose 55 per cent, topping expectations, as higher crude prices and improved refining margins boosted results.Third-quarter earnings for oil companies have been helped by a rebound in oil and natural gas prices. Slow improvement in the global economy has also lifted demand for fuels like diesel and gasoline, helping refining businesses. Compared with a year-earlier, US crude oil prices climbed 13 per cent while benchmark gas on the New York Mercantile Exchange rose 23 per cent to average $4.23 per million British thermal units.The Texas-based company said its oil and gas output rose 20 per cent from a year-ago to 4.45m barrels of oil equivalent per day. Gains were fuelled by Exxon’s massive liquefied natural gas projects in Qatar and its June acquisition of US oil and gas company XTO Energy. Exxon said its third-quarter profit was $7.35bn (£4.61bn), or $1.44 per share, compared with $4.73bn, or 98 cents per share, in the year-ago third quarter.Profit in Exxon’s exploration and production unit rose 36 per cent to $5.47bn, while its refining unit had a profit of $1.16bn, up sharply from $325m from a year ago. Exxon’s quarterly profit rise beats Wall Street forecasts whatsapp whatsapplast_img read more

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first_img 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 Show Comments ▼ whatsapp KCS-content SNOWSTORMS could not stop the boom in John Lewis sales, the department store announced yesterday.Sales last week were just short of £100m, up 8.7 per cent on the same time last year.And the Oxford Street branch recorded its best ever November week.Children’s toys are predictably selling well in the run up to Christmas, but Nat Wakely, director of selling operations for John Lewis, also reported a rush for “big kids’ toys” such as iPads and Kindles.Consumers may be making big purchases before the new year when VAT increases to 20 per cent, said Howard Archer of IHS Global Insight. Sharecenter_img John Lewis stores defy cold snap by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNight DailyHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeNight DailyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropJournalPregnant Woman Takes a Nap – You Won’t Believe What She Discovered When She WokeJournalMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat News whatsapp Sunday 28 November 2010 9:29 pm Tags: NULLlast_img read more

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first_img Share Pfizer raises payout 11 per cent Tags: NULL Drugs giant Pfizer said it was raising its quarterly dividend to 20 cents per share from 18 cents yesterday as it named board member George Lorch as nonexecutive chairman, a week after the abrupt departure of chairman and chief executive Jeffrey Kindler. Kindler quit suddenly a week last Sunday night with no warning to shareholders. Pfizer’s shares had fallen about 27 per cent during his tenure, which was marked by last year’s $67bn (£42.2bn) acquisition of rival Wyeth. whatsapp Monday 13 December 2010 9:26 pm whatsapp KCS-content 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’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 Show Comments ▼last_img read more

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first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Todaymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Deflation unavoidable for Japan Tags: NULL Tuesday 14 December 2010 9:01 pm Japan’s deflation is due to proximity to low cost Asian economies, the government’s chief cabinet secretary said yesterday. Yoshito Sengoku said that aggressive monetary and fiscal easing can fail to tackle falling prices, and risk “leaving a burden for the next generation.” However, the Bank of Japan is pursuing its asset buying scheme. The Bank announced that it would purchase exchange-traded funds (ETF) and Japanese real estate investment trusts (J-REIT) starting from today. Sharecenter_img whatsapp Show Comments ▼ KCS-content 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’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 whatsapplast_img read more

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first_img KCS-content Apax nears a deal to take Takko whatsapp Tags: NULL Monday 20 December 2010 9:25 pm PRIVATE equity firm Apax Partners is reportedly closing in on a deal to buy German clothing retailer Takko from US rival Advent International for about €1.3bn (£1.1bn).Apax has been given until Thursday to hold exclusive talks with Takko and a deal is likely before the deadline, says the Wall Street Journal. Advent has been readying an initial public offering of Takko, which operates discount clothing shops across Europe, in case a committed buyer does not emerge. Last week it emerged that both Apax and Swedish rival EQT were both preparing binding bids for Takko.Apax and Advent were unavailable for comment last night. center_img whatsapp Share More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comRussell 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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldlast_img read more

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first_img KCS-content Share whatsapp The pawn king sets his sights on the city Thursday 13 January 2011 8:00 pm WITH credit tight, the UK has witnessed a significant increase in pawnbroking in the past few years, with the number of outlets increasing to 1,300 in the UK compared to 2003 when there were just 800. But pawnbroking is no longer the preserve of the shabbier end of the High Street. One of the power brokers of the sector and one of those looking to service the upper end of the market is Paul Aitkens, who tonight is the subject of a Channel 4 documentary entitled The Pawn King. (7.30pm).Aitkens, whose online company Borro is based in the City’s Chancery Lane, keeps his customers’ Ferraris, Porsches, and art pieces such as a Banksy or a Picasso on his premises, and tonight’s programme tells the stories of five of his customers. They range from the tale of the ex-wife of a millionaire to the story of a watch addict who has 24 watches to his name.Aitkens says he is trying to legitimise pawnbroking through the use of top-rated valuers from the auction houses and a lending rate of around 4.5 per cent a month. He’s attracted the former founder of Egg to his board, Paul Gratton, as well as the former Sportingbet boss Mark Blandford.He’s close to putting the final touches to some money-raising of his own and expects an IPO to be a possibility in two to three years.IMF GETS INTO WINEONE piece of IMF research particularly caught The Capitalist’s eye this week, appealing to her devoted interest in both fine wine and commodities prices. According to the study, “the statistical behaviour of crude oil and fine wine prices has shown remarkable similarity, with a correlation of over 90 per cent during the sample period”. The formula used to calculate this would fly over The Capitalist’s head even before a large glass of Chablis, but the outcome seems to be that the factors driving wine and oil prices are the same, disputing the fashionable conviction of the last few years that wine offers a more stable investment. Wine funds have, unsurprisingly, been quick to dispute the research, questioning why the IMF was studying wine prices in the first place. And the recent listing of a wine fund on the Aim market implies investors are willing to toe the vintners’ line. The IMF has rather unwisely called its study: A barrel of oil or a bottle of wine? Investment diversification aside, The Capitalist knows what she’d prefer. FUN IN THE MUDIT’S time for fund managers to get down and dirty in the mud with a football tournament for the funds industry on 20 January fast approaching. Hosted by independent transaction network for the global mutual funds industry, Calastone, bopping the ball about on the City’s Powerleague pitches is all in a good cause with the money raised being in aid of charity Help for Heroes. A total of 23 companies, including the likes of JP Morgan, HSBC and Charles Stanley, have signed up so far for the five-a-side battle sure to display some of the City’s finest footwork. But there’s room for more. If you’re keen to show off your headers and goal shooting skills, and help Calastone boost its current £7,000 to its aimed for £10,000 email [email protected] Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Ads whatsapp Tags: NULLlast_img read more

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