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: NULL
Share ABI warns on bonus payouts whatsapp THE Association of British Insurers (ABI) has warned the UK’s top 350 public firms against offering executive pay deals with unlimited bonuses. An ABI letter sent to all FTSE 350 firms warns that its institutional voting information service (IVIS) would issue a “red top” alert on uncapped pay deals where there was no proof of exceptional circumstances. Shareholders have become increasingly alarmed by new contracts, which appear to have no limit on bonuses, the ABI said. Show Comments ▼ Sunday 6 February 2011 10:30 pm whatsapp KCS-content Tags: NULL More From Our Partners ‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org
KSA completes first phase of player protection consultation Email Address Tags: Mobile Online Gambling OTB and Betting Shops 12th April 2019 | By contenteditor Casino & games Dutch gaming regulator Kansspelautoriteit (KSA) has completed a series of public meetings on its proposed player protection regulations as it prepares for the opening of the Netherlands’ regulated igaming market.The final meeting took place in Rotterdam yesterday (April 11), following consultations in Amsterdam, Eindhoven, Utrecht and Zwolle, taking in discussions with gaming operators and suppliers, healthcare professionals and other experts.The regulator said the meetings showed there was broad support for its proposed consumer protection controls, set out in a consultation document that was published in March.However, the KSA added, gaming providers voiced reservations about how exactly certain measures would be enforced, and the feasibility of some elements of its plan were questioned.The KSA’s proposals would require operators to provide players with an explanation of how games of chance work, including the statistical chances of winning, as well as clearly highlighting the age restriction and problem gambling support services.Licensees will also be required to develop a player protection strategy, which must include limit-setting controls for players, covering spending, deposits and how much cash can be held in a user’s account. The KSA has suggested that operators could create a dedicated app to help players monitor their behaviour and spending.The strategy must also cover intervention actions for recreational, at-risk and problem gamblers, to stop their play from getting out of control, as well as plans for managing players aged between 18 and 23 years old.The KSA will now amend or adjust its proposals based on the meetings, as well as taking into account written submissions, which can be submitted until April 22. After this it will publish its updated recommendations.The development of defined consumer protection guidelines are considered a necessary step towards preparing for the opening of the Dutch market, which is expected to take place in 2020. This follows the upper house of the Netherlands legislature, the Senate, passing the Remote Gaming Act in February, after the bill’s progress had stalled since it was passed by the House of Representatives in 2016. Topics: Casino & games Legal & compliance Lottery Sports betting Dutch gaming regulator Kansspelautoriteit (KSA) has completed a series of public meetings on its proposed player protection regulations as it prepares for the opening of the Netherlands’ regulated igaming market. The regulator claimed that the consultation had shown broad support for its proposals, despite some questions about how certain measures would be enforced. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Regions: Europe Western Europe Netherlands
Medical And Surgical Centre Limited (MASC.mu) listed on the Stock Exchange of Mauritius under the Health sector has released it’s 2010 annual report.For more information about Medical And Surgical Centre Limited (MASC.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Medical And Surgical Centre Limited (MASC.mu) company page on AfricanFinancials.Document: Medical And Surgical Centre Limited (MASC.mu) 2010 annual report.Company ProfileMedical And Surgical Centre Limited deals within the Healthcare and Cafeteria segments where it operates hospitals in Mauritius. The company is a subsidiary of CIEL Healthcare Limited and operates hospitals under the Fortis Clinique Darné and Wellkin Hospital names, as well as runs a one day care centre under the FCD North name. Medical And Surgical Centre Limited is listed on the Stock Exchange of Mauritius.
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See all posts by Peter Stephens Enter Your Email Address Our 6 ‘Best Buys Now’ Shares I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Peter Stephens | Saturday, 11th January, 2020 I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images With the Bitcoin price having risen by over 90% in 2019, its returns were significantly ahead of those of the FTSE 100. The index delivered a total return of 16%, which is almost twice its long-term annual average.As such, many investors may feel that buying Bitcoin could be a better means of building a retirement portfolio. However, the virtual currency faces numerous risks that could mean that the FTSE 100 offers significantly stronger long-term potential when it comes to improving your chances of retiring early.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…FTSE 100 potentialEven though the FTSE 100 delivered a strong performance in 2019, many of its members appear to offer good value for money. Sectors such as banking and retail have continued to be unpopular over recent years, with investors adopting a cautious attitude due in part to global economic risks. As such, there are opportunities to buy a wide range of stocks while their valuations are significantly below their long-term historic averages. This could mean that investors can generate relatively high returns in the coming years.Certainly, there are risks facing the world economy. Since the FTSE 100 generates around two-thirds of its revenue from outside of the UK, they could weigh on its performance. Threats such as geopolitical uncertainty in the Middle East and a continuing trade war between the US and China may cause investors to adopt a cautious stance towards riskier assets. This may produce challenging performances in the short run, but could present opportunities to buy stocks at even lower prices for the long run.Therefore, building a portfolio of shares in a tax-efficient account such as an ISA could be a shrewd move. It may lead to high returns which, when compounded, improve your financial prospects and enable you to retire early.Bitcoin’s prospectsWhile the price of Bitcoin could feasibly move higher in the coming months, it is a relatively risky asset that could easily experience a tough period. The threat of other virtual currencies may mean that investor interest in Bitcoin recedes to some degree. It also faces regulatory risks, with many lawmakers and central banks around the world currently having a negative view of cryptocurrencies.Additionally, there is no way of knowing if Bitcoin offers good value for money following its price rise. It has no fundamentals, and its price level is decided by investor sentiment. Should it decline, the track record of Bitcoin’s performance shows that it can fall at a fast pace. This could lead to investors nursing heavy losses, and not knowing whether they should hold or sell an asset for which they are unable to ascertain an accurate valuation.TakeawayWhile investing in shares may take time to impact favourably on your financial situation, over the long run, the FTSE 100’s track record shows that it can help you to retire early. Bitcoin could generate further growth in the short run, but it continues to be a riskier and less attractive means of improving your financial prospects.
Area: 1275 m² Year Completion year of this architecture project Projects Year: Brazil “COPY” CopyAbout this officeJirau ArquiteturaOfficeFollowProductsConcreteBrick#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureSocial HousingJardim Boa VistaBrazilPublished on June 24, 2019Cite: “Novo Jardim Social Housing / Jirau Arquitetura” [Sobrados Novo Jardim / Jirau Arquitetura] 24 Jun 2019. ArchDaily. Accessed 11 Jun 2021.
30 total views, 1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis Writing Better Fundraising Applications: A Practical Guide Tagged with: Funding Howard Lake | 29 March 2009 | News AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.
Melanie May | 23 June 2017 | News About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com. Tagged with: small charities Volunteering The FSI has launched the pilot phase of its new Advice Hub during this week’s Small Charity Week.The FSI launched the Hub on its annual Big Advice Day, which took place on 20th June and is seeking Volunteer Advisors. During June and July the FSI will be signing up as many as possible and will then open the Advice Hub to members with an annual turnover under £100,000 in late July 2017.The full pilot will run until the end of 2017, with the Advice Hub will be open to all FSI members from January 2018. A team of experienced volunteer charity advisors will support the Advice Hub, offering telephone support with bookings to be made through the FSI website.Anyone who would like to offer their services as a Volunteer Advisor must register their interest online by 26th June and specify the topics they could give advice on. More details on the role are available in the FSI’s Volunteer Charity Advisor Handbook. FSI launches pilot phase of Advice Hub & calls for volunteer advisors 116 total views, 2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis3 AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis3 Big Advice Day saw a number of sessions take place both in London and across the UK with advisors offering free advice both one-to-one and over the phone / Skype on a range of different areas, such as legal, marketing, business planning and strategy, finance, and leadership, as well as major donor programmes, capital appeals, legacies, individual giving, corporate partnerships, and digital fundraising. 115 total views, 1 views today
Funding available to assist vulnerable or at-risk EU citizens with immigration status Tagged with: Funding immigration 97 total views, 3 views today Advertisement 98 total views, 4 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis11 Melanie May | 6 November 2018 | News The Home Office is making up to £9 million of grant funding available to organisations offering practical assistance to vulnerable or at-risk EU citizens and their family members who need help completing their immigration status. The EU Settlement Scheme Grant Funding is currently at open early engagement stage. Organisations can bid for funding via one of two lots, either £5,000 – £24,999, or £25,000 – £500,000. The Home Office is currently inviting voluntary and community sector organisations to take part in an engagement teleconference for information about the EU Settlement Scheme (EUSS) and the Grant Scheme process and an opportunity to ask questions.Under the EU Scheme EU citizens living in the UK and their family members will need to apply to obtain their new UK immigration status as the UK exits the EU.Those applying under the EUSS will need to complete a digital application form. The new digital application system for the EUSS will be accessible through phones, tablets, laptops and computers. It will launch fully at the end of March 2019 and remain open until the end of June 2021.To support vulnerable or at-risk EU citizens with their EUSS application, the Home Office is putting in place a series of arrangements, which includes this grant funding, to be awarded in FY19/20 to multiple bidders of voluntary and community sector organisations.The awarded VCS organisations will be funded and supported by the Home Office to deliver practical assistance to vulnerable or at-risk EU citizens and their family members who must all complete an EUSS application.There will be three repeat teleconferences taking place this week on 07 and 08 November 2018:Wednesday 07 November 2018, 10.00 – 11.30Wednesday 07 November 2018, 15.00 – 16.30Thursday 08 November 2018, 15.00 – 16.30Organisations may register for one here.A questionnaire will be available after the teleconference and will be used to inform capability, capacity and delivery expectations among VCS organisations and to enable them to provide thoughts and feedback about the Grant Scheme.The opening date for the questionnaire will be Friday 09 November 2018, closing at midday on Friday 23 November 2018. Questionnaires must be emailed to [email protected] AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis11 About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.
Help by sharing this information March 20, 2007 – Updated on January 20, 2016 Two journalists killed, two more kidnapped in Baghdad News Three jailed reporters charged with “undermining national security” Organisation Follow the news on Iraq News Reporters Without Borders urged a thorough investigation into the killing of journalist Hussein al Jaburi, who has died of his injuries suffered in an ambush in February and that of Hamid al-Duleimi, whose body was found at the Baghdad morgue yesterday. The organisation also expressed its deep concern over the abduction of two staff working for Radio Dijla. December 28, 2020 Find out more February 15, 2021 Find out more Receive email alerts RSF_en IraqMiddle East – North Africa RSF’s 2020 Round-up: 50 journalists killed, two-thirds in countries “at peace” News IraqMiddle East – North Africa December 16, 2020 Find out more Iraq : Wave of arrests of journalists covering protests in Iraqi Kurdistan Reporters Without Borders today learned of the death of two Iraqi journalists at the hands of armed groups in Baghdad, bringing to 155 the number of media staff killed in Iraq since the start of the conflict in March 2003. The worldwide press freedom organisation on 16 March held a protest in Paris in which 153 activists and volunteers held up photos of 153 leading French journalists behind a banner reading, “And what if it was in France?” to raise public awareness of the full horror of the attacks on the press in Iraq. Less than one week later the death toll has mounted still further.The body of Hamid al-Duleimi, 37, a producer on the TV channel al-Nahrain (the two river banks) was found dead yesterday in the Baghdad morgue. He had been abducted two days previously as he left the channel’s studios. Autopsy reports revealed that the journalist had been tortured. Two other employees of the channel were killed in May 2006 after being stopped at a fake military road block in the Iraqi capital.The editor of the daily al-Safir, Hussein al Jaburi, 63, died from his injuries in a hospital in Amman, Jordan on 16 March where he was taken for treatment after being ambushed outside his Baghdad home on 11 February.Elsewhere, there is still no news of Karim Manhal, 48, a commentator on Radio Dijla, who was snatched from his car by four armed and masked men outside the radio’s studios with his driver, Thamir Sabri, There has been no claim of responsibility for the kidnapping.“We salute the determination and courage of the scores of journalists who continue to do their jobs despite these attacks, kidnappings and ambushes targeting the press on a daily basis,” Reporters Without Borders said. “The Iraqi authorities must urgently set up security and legal structures to combat the impunity which means that these attacks continue.” News to go further