Merkel’s comments test EU patience

first_imgThursday 25 November 2010 8:09 pm 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 PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndo KCS-content Share whatsapp GERMAN chancellor Angela Merkel’s repeated interventions in the euro crisis have prompted anger among EU officials, who fear that Germany is turning its back on the Eurozone’s interests in favour of its own. Eurogroup chairman Jean-Claude Juncker said yesterday that he is “concerned that in Germany, the federal (government) and local authorities are slowly losing sight of the European common good”. European Central Bank official Ewald Nowotny has admitted that he is “irritated” with Merkel.Merkel has made several proclamations seen as unhelpful by EU officials, in particular her insistence on reiterating that private bond traders must share the burden of bailouts by accepting haircuts on their investments.TIMELINE | ANGELA MERKEL’S INTERVENTIONS29 October: Angela Merkel proposes that the new EU bailout mechanism include haircuts for private bond traders. 10 November: Merkel reiterates her position, followed by a reassurance that it would only apply after 2013. 18 November: Merkel says she is “completely convinced” that the measure must be adopted.23 November: Merkel says the euro’s situation is “exceptionally serious”.24 November: Merkel asks in Reichstag: “Have politicians got the courage to make those who earn money share in the risk as well?”25 November: Merkel rows back, saying “this is about a future crisis mechanism”, and won’t apply to current investors. center_img Merkel’s comments test EU patience Show Comments ▼ whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Tags: NULLlast_img read more

UK housing slump continues

first_imgMonday 29 November 2010 7:57 pm UK housing slump continues Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org MORTGAGE approvals reached an eight-month low in October, according to official data released yesterday.The Bank of England’s lending figures showed that only 47,185 mortgages were approved. A healthy UK housing market would record closer to 80,000 mortgages per month.The news pours more misery on the housing market, after recent figures showed a similar decline. On Sunday the property website Hometrack reported a 4.3 per cent fall for November in the number of new buyers registered with agents.Their survey also showed a fall in house prices for the fifth consecutive month, as prices dropped by 0.8 per cent on October.And last week the British Bankers’ Association (BBA) announced a 19-month low in mortgages approvals for October, mirroring the Bank’s figures.“House prices will trend down to lose around 10 per cent from their peak 2010 levels by the end of 2011,” said Howard Archer of IHS Global Insight. However, the data held some positive news, as net mortgage lending increased to £1bn from £0.2bn. And according to Richard Sexton of chartered surveyors e.surv, this reflects a tiered housing market in which wealthy people are continuing to buy.“Approvals are actually up for the most expensive properties,” he explained. “Wealthy buyers are using large deposits to side-step lending restrictions.”The Bank also revealed that consumer credit picked up in October, rising to £287m from £72m in September. While the rise appears positive, it had been forecast by economists and is still well below long-term levels. Tags: NULLcenter_img 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 PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoam Show Comments ▼ KCS-content whatsapplast_img read more

US oil spill panel says new safety culture needed

first_img whatsapp KCS-content 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 PastUndoMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo US oil spill panel says new safety culture needed whatsapp Tags: NULL Show Comments ▼center_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 Share Thursday 2 December 2010 7:36 pm THE WHITE House oil spill commission yesterday challenged offshore drillers to boost safety standards, detailing proposals for the creation of an independent, self-regulating industry group and reformed government oversight. Created in the aftermath of the BP drilling accident in the Gulf of Mexico, the commission said the entire offshore oil industry needed to increase its focus on safety and such an industry group could hold firms accountable. “The oil and gas industry needs to embrace a new safety culture,” commission co-chair Bill Reilly said at the start of a two-day meeting to help prepare the panel’s final report. Reilly said a lack of resources had plagued the government’s offshore drilling regulator for years, which he said justified the Obama administration’s decision to delay expansion of offshore drilling to areas off the Atlantic coast and in the eastern Gulf. “The industry is upset about it, but one has to ask how a decision could ever have been made otherwise, given the poor state of the agency itself,” Reilly said. The panel is considering pushing for the creation of a self-regulating safety organisation for offshore drilling. last_img read more

Productivity gap is due to regulation, research says

first_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Tuesday 14 December 2010 9:03 pm Show Comments ▼ KCS-content RED tape that deters new businesses is responsible for low levels of European productivity, according to research released today.The costs of setting up a business result in uncompetitive markets, higher prices and less innovation, said Dr Markus Poschke, an economist from McGill University in Quebec. Even small start up costs of around £5,000 have knock on effects “leading to large losses in terms of productivity and output,” the report said.Some European countries have “miniscule” start up costs along the same levels as the US, Canada and New Zealand. While rates are low in Denmark, Norway and the UK, countries like Germany, France and Italy have significantly higher barriers to entry, Poschke said.The research, published in the Economic Journal, found that up to one third of the productivity gap between Germany and the US could be due to entry costs. Tags: NULL Productivity gap is due to regulation, research says whatsapp whatsapp Sharelast_img read more

UK’s factory growth hits a 16-year peak

first_img More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org KCS-content whatsapp BRITISH manufacturing growth hit a massive 16-year high in December, it was revealed yesterday.Extreme weather and tough economic conditions had led economists to expect a fall in the Purchasing Managers’ Index. Yet the measure of business activity improvement rallied to 58.3, its fastest rate of growth since 1994.The index, compiled by Markit and the Chartered Institute of Purchasing & Supply’s, has now remained above 50 – signalling growth in the manufacturing sector – for 17 straight months.Broad based improvements were behind the rise, with factory output and new orders both jumping to seven month highs. “This is a fantastic report,” commented Howard Archer of IHS Global Insight. “Healthy orders growth in December bodes well for manufacturing output in early 2011.”To cope with the backlogs, and more new orders, firms increased their levels of employment so that jobs growth was recorded for the ninth successive month.“This boosts hopes that the private sector may be able to compensate for the public sector job losses that are increasingly on the way,” said Archer.“However, manufacturing output only accounts for 12.8 per cent of GDP,” Archer warned, while manufacturing provides less than nine per cent of jobs in the economy.The rise in manufacturing was “underpinned” by new export business, the report said, “reflecting increased sales to clients in mainland Europe, the US and East Asia.” Export orders upticked by two points to 59.9, the second highest rate of 2010. “Exports will be key to the outlook for 2011,” said Andrew Goodwin of the Ernst and Young Item Club. “The index contains evidence of strong demand, even from the Eurozone where the sovereign debt crisis has seemingly been unable to dent demand for UK goods at this stage,” he said.However, the news was slightly dampened by rising prices, as the UK faces the prospect of even higher inflation. Growth was recorded in both input and output prices, with input prices seeing the steepest rise in inflation since the survey began in January 1992. 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 PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo Show Comments ▼center_img Share whatsapp Tags: NULL UK’s factory growth hits a 16-year peak Tuesday 4 January 2011 7:40 pmlast_img read more

Richemont in sales boost led by China

first_img Show Comments ▼ whatsapp KCS-content Richemont in sales boost led by China whatsapp SWISS luxury goods group Richemont saw healthy sales growth in all business areas in its third quarter as wealthy Chinese customers continued to splash out on Cartier jewellery and timepieces.Overall sales for the three months to 31 December were up 33 per cent, beating analysts’ forecasts.Sales in the Asia-Pacific region rose 42 per cent in local currencies, the world’s second largest luxury goods group behind French rival LVMH, Richemont said.The luxury goods industry has recovered strongly from its worst slump in decades thanks to buoyant demand in Asia.Richemont chief executive Johann Rupert said yesterday the group’s brands, such as Cartier, Montblanc and Jaeger-LeCoultre, “performed well and saw good sales growth, particularly at the retail level”.Its sales in the period – which include the key Christmas period sales – rose to €2.12bn (£1.7bn) from €1.56bn a year earlier. However Richemont warned in a statement: “Higher comparative figures will make the final quarter of the financial year ending 31 March 2011 more challenging.“Gross margin is anticipated to be negatively affected by a stronger Swiss franc given the group’s Swiss manufacturing base.”Richemont in November reported an 87 per cent jump in its first half net profit to €664m.CHINA | A LOVE AFFAIR WITH LUXURYBurberry completed the acquisition of 50 stores in China last year and its trading updates point to the country as its best up-and-coming marketRolls Royce sales surged 800% last year – beating all expectationsChina and Hong Kong imported 3.8bn Swiss francs (£2.4bn) of Swiss timepieces in the first 11 months of 2010, accounting for a quarter of the European country’s watch exportsShipment volumes of Cognac to China grew by 54% in 2010 Share 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap Monday 17 January 2011 8:35 pm Tags: NULLlast_img read more

Healthcare Locums suspends stock after accounting issues

first_img Tuesday 25 January 2011 9:11 pm Share whatsapp Healthcare Locums suspends stock after accounting issues by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia KCS-content center_img MEDICAL staffing firm Healthcare Locums yesterday suspended its AIM-listed stock and two of its top staff while it investigates accounting irregularities.Healthcare Locums, which was set up by serial entrepreneur Kate Bleasdale in 2004, has begun an investigation into “serious accounting irregularities” that mean its profits will be far below market expectations of £25m this year. Bleasdale, who is executive vice chairman, and chief financial officer Diane Jarvis will be suspended pending the outcome of the probe. It is understood that the police are not involved in the investigation. Healthcare Locums has lost 25 per cent of its share value since it blamed public spending cuts for poor results in September. However, the firm continued to make acquisitions including the £77.8m purchase of an Australian healthcare firm, which was funded by a National Australia Bank loan. The firm appointed Jefferies International to join Fairfax IS as joint corporate broker in September. The company restated its 2009 results last March to reflect a new accounting policy. whatsapp Show Comments ▼ Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img read more

HSBC: London losing to Asia

first_img 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBe20 Stunning Female AthletesBetterBeBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tuesday 1 February 2011 9:22 pm KCS-content whatsapp Show Comments ▼ Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily 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 ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proofcenter_img whatsapp Banking there is “quite a noticeable” migration of business from London to Asia, according to HSBC chairman Douglas Flint.Speaking before the House of Commons Treasury committee, he pointed to “three 200,000 square foot buildings being taken by international banks in Singapore at the moment that might have gone somewhere else”.Two of the buildings in question are thought to be a 513,000-square foot building taken by Standard Chartered recently and 250,000-square foot of office space signed by Citi Singapore.Flint added that “business that we would have had” is instead moving to Hong Kong and Singapore, eroding London’s competitive advantage from a “cluster effect” of business in the capital.While affirming HSBC’s current commitment to its London HQ, he warned that the bank will this year conduct one of its three-yearly reviews on whether to re-locate.Any regulatory break-up of banking activities would be a factor in the decision, he said, calling the UK levy on global balance sheets “a tax on being headquartered here”. He added: “We are finding institutional investors routinely meeting to ask us to explain the cost of being in the UK.” Share HSBC: London losing to Asia last_img read more

Ferroalloys grow for ENRC

first_img Tags: NULL whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Share Wednesday 2 February 2011 7:45 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily 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 ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proofcenter_img whatsapp KCS-content Show Comments ▼ Mining group ENRC said ferroalloy production rose 5.6 per cent in the fourth quarter as the company’s operations in Kazakhstan ran at full available capacity. The London-listed company said yesterday that production of ferroalloys grew to 473,000 tonnes from 448,000 tonnes in the same period last year. Ferroalloys accounted for 47 per cent of first-half operating profit while iron ore made up 36 per cent. Ferrochrome is a key ingredient in stainless steel. Ferroalloys grow for ENRC last_img read more

Tax bill is double that of its rivals

first_img Share Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Show Comments ▼ KCS-content whatsapp Tax bill is double that of its rivals Thursday 24 February 2011 8:52 pm RBS and its staff paid £3.9bn to the Treasury in taxes last year, the bank has revealed. The amount is almost double the UK?tax bills paid by other banks like Barclays and Goldman Sachs, because of the bank’s size and its concentration in the UK.The high costs of its taxes is despite the fact that RBS did not pay any corporation tax because it made a loss. The bank’s profits were hit by staying in the government’s asset protection scheme (APS), an expensive insurance scheme for certain assets.RBS must pay £2.5bn to exit the programme, minus any fees it has already paid, and has therefore opted to stay in the APS until the fees it has paid are equal to the exit penalty. These fees alone cost the bank £700m last year.Chief executive Stephen Hester echoed calls by others, including Barclays chief Bob Diamond, chancellor George Osborne and JP Morgan Chase chief executive Jamie Dimon, by saying that the time for banker-bashing is over.“We have to move on from the crisis, from what went wrong and the recriminations around that,” he said. “Banks have a huge role as exporters, employers and taxpayers in the UK.” He added that it was time to start seeing banks “as economic engines” rather than as liabilities. whatsapp Tags: NULLlast_img read more