Cheer as supply of money rises

first_img whatsapp Cheer as supply of money rises Show Comments ▼ More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com M4 money supply, the amount of cash in circulation in the UK economy, grew by £12.8bn in August, after a £0.2bn fall in July, official statistics published yesterday revealed. This represented a three-month annualised growth of 4.5 per cent. The data showed that in August, money holdings of private non-financial corporations (PNFCs) gained 0.9 per cent, pushing annual growth up to five per cent. While the corporate liquidity ratio – sterling and foreign currency deposits divided by borrowing – rose to its highest level since the second quarter of 2007. Excluding property companies, the liquidity ratio is close to the top of its range in recent years, supporting hopes of a further pick-up in business investment and hiring. Monetary expansion also continues to be supported by an influx of foreign funds – overseas investors bought £9.5bn of gilts and Treasury bills in August, bringing the year-to-date total to £62.1bn, while “monetary financial institutions’ externals” contributed £15.1bn to the increase in M4. “August monetary statistics are encouraging, suggesting a continued economic recovery and arguing against more quantitative easing,” said Henderson’s Simon Ward.But Alan Clarke at BNP Paribas said money supply growth was “too slow” and that combined with weaker service sector output GDP growth in the UK could falter in the second half of the year or even go into negative territory. Monetary Policy Committee member Adam Posen raised the possibility the Bank may have to restart its policy of quantitative easing again on Tuesday saying the UK faced a long period of sluggish growth. Share whatsapp Wednesday 29 September 2010 11:18 pm Tags: NULL KCS-content last_img read more

The unemployment Nobel

first_img whatsapp Tags: NULL Monday 11 October 2010 8:39 pm KCS-content AS HIGH unemployment once again stalks the western world, the Nobel committee has rewarded three economists who revealed how the process of searching for work affects unemployment. As Dale Mortensen and Christopher Pissarides put it in 1998: “Market friction, the costly delay in the process of finding trading partners and determining the terms of trade, is ignored in the standard theory of perfectly competitive markets”.Beginning in the 1970s, their work looked behind the brute fact of unemployment to consider how would-be employers and employees could really find each other and what stopped that happening. This allowed assessment of the impact of government policy on unemployment. So Pissarides was keen to stress yesterday in relation to Greece, where unemployment is at a 10 year high, that its problem is made worse by regulation, including, ironically, strong job protection laws that discourage firing and hence hiring.Pissarides also referred to the conclusion of his 1992 paper, Loss of Skill During Unemployment, which shows how an acute unemployment shock can become chronic if the unemployed lose their skills by not continuing to engage with the workplace.The trade unions now planning to hold the coalition to task might also reflect that in 2003 Pissarides explained the relatively lower unemployment in Britain compared to elsewhere in Europe in part by “the decline of trade union power”.The three winners who share this year’s economics NobelCHRISTOPHER A. PISSARIDESPissarides’ most influential paper is arguably “Job Creation and Job Destruction in the Theory of Unemployment (with Dale Mortensen)”, published in the Review of Economic Studies in 1994.Christopher Pissarides is Professor of Economics at the London School of Economics and holder of the Norman Sosnow Chair in Economics. He specialises in the economics of unemployment, labour-market theory, labour-market policy and more recently he has written about growth and structural change. He has written extensively in professional journals and his book Equilibrium Unemployment Theory, now in its second edition, is a standard reference in the economics of unemployment.In 2005 he was awarded the IZA Prize in Labor Economics (jointly with Dale Mortensen) for his work on unemployment.Born: 1948, Nicosia, CyprusAffiliation at the time of the award: London School of Economics and Political Science, London, United KingdomDALE T. MORTENSENDale T. Mortensen is the Ida C. Cook Professor of Economics at NorthwesternUniversity. His research and teaching interests are in labour economics, macroeconomics and economic theory.Mortensen pioneered the theory of job search and search unemployment and extended it to study labour turnover, research and development, personal relationships, and labour reallocation. His insight, that friction is equivalent to the random arrival of trading partners, has become the leading technique for the analysis of labour markets and the effects of labour market policy. The development of equilibrium dynamic models designed to account for wage dispersion, the time series behavior of job and worker flows, and economic growth through product innovation are the principal topics of his current research.He is the 2005 co-winner of the IZA Prize in Labor EconomicsBorn: 1939, Enterprise, OR, USAAffiliation at the time of the award: Northwestern University, Evanston, IL, USA whatsapp Share 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 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 TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald The unemployment Nobel last_img read more

FIRST STOP FRANKFURT

first_img FIRST STOP FRANKFURT whatsapp Show Comments ▼ Share More From Our Partners Connecticut man dies after crashing Harley into live bearnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice 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.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.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 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 TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldcenter_img Tuesday 19 October 2010 7:37 pm GERMAN rail operator Deutsche Bahn yesterday showcased a Siemens high-speed train in London which it hopes will run services to Germany through the Channel Tunnel in a challenge to Eurostar’s monopoly and Alstom trains. The ICE?3 train was on display at St Pancras station. Deutsche Bahn wants to operate services from London to Frankfurt and Cologne by the end of 2013. KCS-content Tags: NULLlast_img read more

Jaguar keen on a joint venture with Chinese

first_img Tags: NULL whatsapp 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 Show Comments ▼ Sunday 24 October 2010 10:57 pm whatsappcenter_img 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 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 AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Share Jaguar keen on a joint venture with Chinese JAGUAR Land Rover, a unit of India’s Tata Motors, is in talks with a Chinese auto maker to set up a joint manufacturing and sales venture in China. The aim of the move is to boost the company’s presence in China, which last year displaced the US as the world’s biggest auto market. Tata Motors chief executive Carl-Peter Forster, said Tata-owned Jaguar Land Rover wants to find a partner in China “as soon as possible” to manufacture and market vehicles.He added the company is in “good discussions” with a Chinese auto maker but declined to name the potential partner.Tata believes the Jaguar and Land Rover brands, which Tata purchased from Ford, have “tremendous potentials” around the world.“We’re not as strong as we should be [in many markets], most notably in China,” Forster told the industry forum at China Europe International Business School in Shanghai. last_img read more

Anglo-French tie-up cheers defence firms

first_imgTuesday 2 November 2010 9:46 pm Anglo-French tie-up cheers defence firms whatsapp DEFENCE contractors yesterday gave a cautious thumbs up to plans for greater military cooperation between Britain and France, which could help soften the blow of swingeing cuts to government spending on big projects. Prime Minister David Cameron and French President Nicolas Sarkozy yesterday signed two treaties, paving the way for an unprecedented degree of collaboration in a number of defence areas, including aircraft carriers, submarines, nuclear technology and a joint ground force. BAE Systems, Britain’s largest defence contractor, welcomed the decision to cooperate on unmanned air systems or “drones”, which have become commonly used in the Iraq and Afghanistan conflicts. A source close to BAE said that France and Britain should pool their resources to invest in a new generation of European unmanned aircraft, instead of buying off the-peg systems from the US.Pursuing the latter option would lead to a skills shortage in Europe and the UK, the source said, adding: “You need a steady trickle of work to maintain those skills for the future.”Rolls Royce was more equivocal, believing that it is too early to tell whether the agreement will have any impact on defence spending. “The real answer is the devil is in the detail, the feeling is it’s hard to say either way,” said one source.Tina Cook, defence analyst at Charles Stanley, said the Anglo-French deal would likely mean fewer project cancellations. whatsapp KCS-content Share Show Comments ▼ More From Our Partners Feds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Tags: NULLlast_img read more

Brown aide to join BHP board

first_img KCS-content Show Comments ▼ Share whatsapp Tags: NULL Brown aide to join BHP board BHP Billiton has appointed a former government minister and one of the architects of the 2008 banking bailout to its board. Baroness Shriti Vadera will join the miner as a non-executive director from 1 January. Vadera held a variety of roles in government, as minister for Africa, economic competitiveness, and enterprise. She left government in 2009 to advise the G20. Prior to her career in politics she spent 14 years working as an investment banker at UBS Warburg, specialising in emerging markets. More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Monday 13 December 2010 9:13 pm whatsapplast_img read more

Spain’s borrowing costs soar as Portugal faces rating cut

first_img Spain’s borrowing costs soar as Portugal faces rating cut SPAIN’S borrowing costs soared again yesterday at an auction of short-dated bonds, while the cost of Portuguese borrowing jumped after Moody’s put the country’s debt on review for a downgrade. Spain sold €3.9bn euros of three and six-month bills and was forced to pay interest of 1.8 per cent and 2.6 per cent respectively. Both rates were up on the country’s last short-dated auction, just a month ago, when it paid 1.7 per cent and 2.1 per cent for equivalent loans.The yield on Portuguese ten-year notes, meanwhile, leapt over 6.55 per cent from 6.48 per cent after Moody’s warned that it has put the country’s debt on review for a downgrade A1 long-term and Prime-1 short-term government bond ratings on review for possible downgrade, warning that “the rating could be adjusted downwards by a notch or two” within the next three months.Moody’s cited Portugal’s growing borrowing costs as one of the reasons for the review, which will take three months, and said that the country’s long-term growth prospects are hampered by the immediate need for fiscal cuts. The ratings agency said: “Fiscal consolidation and private sector deleveraging mean its outlook may no longer be consistent with an A1 rating.” Share whatsapp whatsapp Tuesday 21 December 2010 8:44 pm Show Comments ▼ More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel 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.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.org Tags: NULL KCS-content last_img read more

CITY A.M. | SHADOW MPC

first_img CITY A.M. | SHADOW MPC whatsapp KCS-content ALLISTER HEATH | CITY A.M“All the surveys are showing strong business activity – across the sectors – and seriously rising costs. A quarter point rate rise is urgently required to send a strong message.”SIMON WARD | HENDERSON“Half-point hike. The debate is shifting from whether to how far rates need to rise. Solid January business surveys and a surge in inflation expectations strengthen the case. Sterling is at risk if we continue to dither.”GEORGE BUCKLEY | DEUTSCHE BANK“Price pressures and the recovery might eventually justify higher rates. But weather related uncertainties, low levels of activity, and the external factors behind inflation all suggest policy on hold.”MICHAEL SAUNDERS | CITIGROUP“An early hike would reduce the risk that inflation expectations become destabilised and hence reduce risks of an even sharper hike subsequently. Inflation is far above target and far above the MPC’s forecasts.”VICKY REDWOOD | CAPITAL ECONOMICS“Given the uncertainty of the underlying pace of economic growth, we should stay in wait and see mode. Keep rates and QE on hold. A small rate rise would do little to boost credibility, but could harm the recovery.”TREVOR WILLIAMS | LLOYDS TSB“Hold our nerves and keep rates on hold. With the monetary situation bleak, inflation will fall back. The upcoming fiscal squeeze puts recovery at risk, and the UK is not benefiting so much from the global upturn.”HOWARD ARCHER | IHS GLOBAL INSIGHT“No change. It is premature to raise interest rates given that the economy looks fragile and fiscal tightening is now kicking in. And pay growth remains muted so inflation should still eventually fall back markedly.”JAMIE DANNHAUSER | LOMBARD STREET RESEARCH“CPI inflation will be well above the two per cent target throughout the year. There are risks on an upward creep in inflation expectations. However, the time for higher rates has not yet arrived.”GRAEME LEACH | IOD“Hold rates. The combination of the fourth quarter GDP numbers, anaemic money supply growth and no evidence of a wage price spiral suggests near zero interest rates should continue for some time yet.” Share 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 TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBrake 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’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily 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 ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut whatsapp Wednesday 9 February 2011 7:36 pm Show Comments ▼ Tags: NULLlast_img read more

Xchanging tanks on torrent of bad news

first_img Show Comments ▼ Xchanging tanks on torrent of bad news More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com KCS-content Share ALARMED investors wiped out half of outsourcing firm Xchanging’s market value yesterday after the firm warned on its profits, scrapped its dividend and announced that its chief executive had left. Xchanging, which sponsors the Oxford and Cambridge boat race, also said it will take a £100m impairment charge linked to the loss of goodwill from its disastrous takeover of India’s Cambridge Solutions in 2008. Chief financial officer Ken Lever, who is acting chief executive following the sudden departure of founder David Andrews, said 2011 operating profit will be lower than £55.5m, the bottom end of analyst estimates. Contract delays and cancellations will hit the firm’s bottom line, Xchanging said in a statement, and it will reveal more details of a cost-cutting drive to offset the losses in its results statement on 1 March. A spokesperson said the firm did not plan to make any job cuts.“We mustn’t get carried away here,” said Lever during an analyst conference call. “We have a very strong profitable and cash-generating business in the UK … I wouldn’t go away from here thinking there are no silver linings.” Outgoing chief Andrews, who founded Xchanging in 1999, will remain an adviser to chairman Nigel Rich. Andrews lost around £11.3m yesterday as his 19.8m shares in Xchanging crashed to less than half their previous value. The stock closed at 56.5p yesterday – a loss of 52 per cent, and less than a quarter of its 12-month high of 222p. Analysts rushed to cut their estimates for 2011. Mike Murphy from Numis moved from “buy” to “sell”, adding in a note: “The CEO has, rightly in our opinion, fallen on his sword…. [I]t is possible everything, bar the proverbial kitchen sink, has been thrown into the 2011 numbers. “However, it is difficult to see relations being repaired with the market until the group delivers on expectations.”Profit warning for 2011Xchanging’s 2011 profit will be less than the most bearish forecasts of £55.5m, despite lowering forecasts in late 2010.£100m goodwill hitXchanging bought Bangalore-based IT firm Cambridge Solutions for £83m, but has written down £100m from loss of goodwill. Dividend scrappedXchanging paid a dividend of 2.75p per share last April, but investors will get nothing for the 2010 financial year.Chief executive leavesFounder and CEO David Andrews has left his post without warning after 12 years.Investors take a batteringXchanging’s biggest shareholders include hedge fund Breeden (which also lost out during the demise of housing repair firm Connaught), former Cambridge Solutions owner Scandent, and several board members including Andrews himself. Wednesday 9 February 2011 8:41 pm whatsapp whatsapp Tags: NULLlast_img read more

Churchill appeals licence decision

first_imgThursday 10 March 2011 7:40 pm Show Comments ▼ 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 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap whatsapp Churchill appeals licence decision Share whatsapp Churchill Mining said yesterday it plans to appeal against an Indonesian tribunal’s decision to revoke its coal mining licences for the East Kutai project. The firm saw its shares tumble almost 70 per cent last week when the tribunal’s decision was announced. An appeal could take several months, Churchill warned in a statement. The firm’s AIM-listed shares gained 3.7 per cent after the news yesterday. Tags: NULL KCS-content last_img read more