The City needs workers from outside the EU

first_imgSunday 5 September 2010 9:48 pm AS THE days count down until the immigration cap consultation on non-EU workers closes a week on Friday, it is more important than ever that we engage with policymakers to voice concerns across the City. Of course, we recognise the wider national concerns about immigration levels. With the latest figures from 2009 showing a 20 per cent rise in net entrants there is undeniably a political imperative to tighten the system and ensure it is not abused.But any changes to how work permits are controlled need to be focused. Therefore it is important to note that last year’s increase stemmed not from an increase in permits issued to non-European Union citizens – which actually fell by 14 per cent – but by a fall in the number of people leaving Britain.If the principle of a “cap” is accepted and that there will be limits on net immigration in the various categories then the government must ensure that any “abuse” of the system is eradicated, particularly in the Tier 1 and Tier 2 categories which are of prime importance to the City. Anecdotal evidence suggests that, in the past, people have entered the country on the basis of qualification rather than economic value to the UK. If that persists then people we really need who do bring value in terms of enhancing a firm’s profitability – and both income and corporation tax – may be excluded in favour of a first-come, first-served entrant with little economic value.Most of the firms in the City are global employers. If they need a skill set in, say, Middle East finance or emerging markets then they source from those areas. Equally if opportunities arise to acquire financial teams from outside of Europe they need to be able to act quickly. Are firms expected to sacrifice these opportunities because they cannot employ any non-European talent? In the past couple of years the City has experienced huge swings in the business environment. Financial businesses and indeed many others have to respond to these changes rapidly. We have in these two short years experienced a swathe of redundancies followed by a desperate scramble to rebuild numbers. Many of those redundancies will be of people who are not domiciled in the UK and many will have returned to their homes in the USA and Asia. The effects of this are twofold. Firstly basing permit allocation on the recent past gives absolutely no guide to the needs of any business. Secondly it prevents firms from re-employing people from those countries. If we cannot do that then those talented people and firms will simply move elsewhere where there is similar demand and who show a welcoming environment. Therefore it is in all our interests that the City works with the government to help design a fair, transparent and rational system that maintains the UKs openness to skilled citizens – regardless of their background.Stuart Fraser is Policy Chairman at the City of London Corporation. Show Comments ▼ whatsapp The City needs workers from outside the EU Tags: NULL Share whatsapp KCS-content More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comPuffer fish snaps a selfie with lucky divernypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comlast_img read more

New European finance sheriffs are finalised

first_img Share whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comWhy people are finding dryer sheets in their mailboxesnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comConnecticut man dies after crashing Harley into live bearnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com THE European parliament gave its blessing to the creation of new pan-EU financial regulators by the start of next year, heralding tighter controls for the financial industry.Three agencies will be established to keep tabs on banks, markets and insurers next January.A European Banking Authority will be based in London. Paris will be home to the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority will be in Frankfurt.The UK’s share of the vote on ESMA will be only 8 per cent and will be held by the new Consumer Protection and Markets Authority. The EU will also establish a European Systemic Risk Board, an agency of the European Central Bank that will keep watch for threats to the economy such as property price bubbles.To begin with, the power of the new financial sheriffs will be restricted.As it stands, the new agencies can step in if EU rules are being broken or they can order national supervisors to take action in an emergency.They will also have the final say in disputes between national agencies grappling with problems at an international bank. whatsapp Wednesday 22 September 2010 7:32 pmcenter_img New European finance sheriffs are finalised 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 ScottsdaleMoneyPailPeople 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Show Comments ▼ KCS-content Tags: NULLlast_img read more

Auditor calls for shake up

first_imgTuesday 28 September 2010 11:35 pm GRANT Thornton, the fifth largest audit firm, has urged the government to review the market share held by the big four accounting firms in a bid to reduce threats to the financial markets should one of them fail. In a submission to the House of Lords’ inquiry into auditors, and as reported by the Financial Times, Grant Thornton has said that financial markets would be significantly impacted should either PwC, Deloitte, KPMG or Ernst & Young collapse as they audit the majority of FTSE 100 companies. Grant Thornton, led by chief executive Ed Nusbaum, said in the submission that the collapse of any of the largest accountants was a “tangible rather than a purely academic risk”.The accounting firm has called on the government to establish an oversight body that would implement limits to the number of large UK companies any one firm could audit. It has also said that regulators should suggest to large corporates that they hand more audit work over to the smaller firms. The House of Lords economic affairs select committee is currently investigation the audit profession, including competition concerns over the market dominance held by the big four accounting firms. Show Comments ▼ whatsapp KCS-content Auditor calls for shake up center_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller 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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp Sharelast_img read more

City unites against UK listing proposal

first_img City unites against UK listing proposal KCS-content Tags: NULL Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 THE City has roundly rejected the government’s proposal to merge the UK Listing Authority (UKLA) with the Financial Reporting Council (FRC) saying such a move would serve to fragment the regulation of the investment market and hurt investors and issuers.The proposal to merge the UKLA was put forward as part of the government’s consultation on changes to financial services regulation published at the end of July. Opposition to the proposal has grown over the last month with the London Stock Exchange (LSE) first to break cover in calling for the UKLA to be part of the Consumer Protection and Markets Authority (CPMA) instead.City bosses are concerned that if the UKLA is merged into the FRC under the guise of a new Companies Regulator as proposed, the City will not be able to influence key negotiations over future financial regulations likely to come from the new European Securities and Markets Authority. Of equal concern is that the government would be replacing one tri-partite authority with another and that primary and secondary investment markets would suffer.A raft of organisations, from the British Banker’s Association, the Investment Management Association, the Association of British Insurers, the Corporation of London, the Association of Financial Markets in Europe, Royal Bank of Scotland and Plus Markets Group, have followed the LSE’s lead urging the government to reconsider and merge the UKLA with the CMPA. Their responses to the consultation, which closes on Monday, were published by the Treasury Select Committee on its website yesterday.Even the Financial Services Authority has criticised the plan saying: “This division of responsibilities within the UK would create a highly fragmented representation in Europe.” It adds: “No other major EU countries separate primary and secondary markets regulation because coherence between the two is essential.” whatsappcenter_img Thursday 14 October 2010 9:33 pm 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 PastSerendipity 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.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald whatsapplast_img read more

Daisy buys SpiriTel for £27.3m

first_img Show Comments ▼ Wednesday 10 November 2010 7:16 pm whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Telecoms firm Daisy yesterday said it will buy rival SpiriTel in a £27.3m deal. In addition, Daisy will take on £6.1m of SpiriTel’s existing bank debt which, Daisy will refinance from its existing banking facilities. SpiriTel, which has been advised by FinnCap, unanimously recommended the offer to shareholders. Matthew Riley, chief executive of Daisy, said: “We believe this acquisition gives us a strong foothold in the mid-market, strengthening our sales team and engineering force, while significantly enhancing both our product portfolio and customer base.” KCS-content center_img 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 WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Daisy buys SpiriTel for £27.3m whatsapp Tags: NULLlast_img read more

Growing euro crisis raises the stakes

first_img Growing euro crisis raises the stakes Show Comments ▼ KCS-content Tags: NULL 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 ScottsdaleMoneyPailWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times More From Our Partners Killer 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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Sharecenter_img whatsapp whatsapp IT’s all starting to feel a little too much like we’ve returned to 2007. First a few little-known mortgage lenders, then Bear Stearns (Greece) in early 2008, then Freddie and Fannie (Ireland) – and then, eventually Lehman Brothers (Italy or Spain?) and the whole pack of cards came crashing downs. What at each stage seemed imminently containable soon enough turned into a financial and economic disaster.Fortunately, we are not there yet. UK banks have substantial exposure to Irish assets. Nevertheless, so far investors have been relaxed about the UK, partly because there is a big difference between exposure and a loss. Britain is unlikely to be dragged down in any substantial way by Ireland, Portugal or Greece. Worryingly, it is tough to work out what is really happening in Spain or Italy. If those countries were to hit the rocks, an EU-wide double-dip recession and generalised calamity would be inevitable.With Democratic-controlled California also teetering on the brink, and the Republicans in Congress in no mood for clemency, the spectre of sovereign defaults will be the greatest risk facing the world economy in 2011, above even the risk of China’s credit bubble going pop.So far, the gilts markets have stood up well, largely because investors are convinced that the coalition won’t be turning on its plan to balance the budget. As analyst Michael Saunders of Citigroup points out, central government revenues are up 9.2 per cent year on year in the fiscal year to date, well above the Office for Budget Responsibility’s (OBR) forecast for the full year (6.7 per cent). Revenues have been fuelled by higher-than-expected nominal GDP growth (5-6 per cent year on year compared with the OBR’s forecast of 4.4 per cent growth for the whole year, in part because inflation is overshooting), the first VAT hike (back to 17.5 per cent, boosting revenues by about 2 per cent). Corporation tax receipts are up 28 per cent year on year in April-October.The problem for the British government is that austerity is not fully being implemented, contrary to the rhetoric. Total central government current spending and net public investment rose 5.9 per cent year on year in April-October where the OBR projects a 4.2 per cent gain over the full year. Part of this overshoot reflects higher interest payments, including indexation on index-linked gilts. But public investment also has fallen less than expected so far, dropping 5 per cent in April-October whereas the OBR projects 21 per cent drop over the full fiscal year.There is one more piece of good news, courtesy of Citigroup. Since May 2006, the monthly deficit has been revised down 41 times from the initial data, with only 12 upward revisions. For the last 12 figures, the deficit has been revised down 10 times and only twice upwards. For that 12-month period, the cumulative downward revision has been a massive £24bn.Our public finances are improving and will make it easier to deal with small-scale sovereign crises. The rest of the EU has a much bigger problem, however: it has no solution to the fact that the euro is clearly not working and actually fuelling booms and busts. And its resolution procedures for failed states remain confused and opaque. It still seems as if the UK at least will be all right. But the chancesthat we won’t be have started to go [email protected] Monday 22 November 2010 6:46 am last_img read more

US Treasury banks $12bn from Citi sale

first_img whatsapp THE US Treasury has banked an estimated $12bn (£7.6bn) profit on the sale of its stake in bailed-out Citigroup.The government offloaded the remainder of its 27 per cent stake in the banking giant on Monday night, raking in $10.5bn from the sale of 2.4bn shares at $4.45 each. It acquired the shares in 2008 for $3.25, netting a gain of around $6.85bn. Including dividends, the share gain and proceeds from other securities, the stock sale raised the profit for taxpayers to $12bn. Tim Massad, Treasury acting assistant secretary for financial stability, said: “By selling all the remaining Citigroup shares today, we had an opportunity to lock in substantial profits for the taxpayer and avoid future risk.”The US Treasury invested a total of $45bn to bail out Citigroup during the financial crisis.The successful sale will intensify calls for the UK government to consider selling its 84 per cent stake in RBS and 41 per cent stake in Lloyds.If the UK government was to sell its stake in Lloyds today it would lose around £2bn. If it sold its RBS stake it would lose £8bn.UKFI, the organisation that oversees the public stake in the banks, repeated that it is in no hurry to part with the assets and will instead attempt to maximise government returns.But Execution analyst Joseph Dickerson said he believes it is time the government cut its ties with Lloyds.He said: “There is no reason the government needs to be involved. Lloyds is still reliant on wholesale funding but this would normalise as the government stake comes down. Citi is a good barometer – its shares are up by 15 per cent in four days.”“RBS is different – the government stake is higher and it is a far more complex case. I think we’re stuck with it for the long haul.” Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Share Tuesday 7 December 2010 8:56 pmcenter_img KCS-content Show Comments ▼ US Treasury banks $12bn from Citi sale Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof whatsapplast_img read more

UBS wealth team moves to the City

first_img UBS wealth team moves to the City KCS-content Show Comments ▼ Tags: NULL whatsapp Tuesday 11 January 2011 8:56 pmcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition whatsapp SWISS bank UBS is moving its UK wealth management headquarters from Mayfair to its office space within the Square Mile.The move will bring the bank’s business units in London closer together, with the wealth management division moving into the same building as UBS’ investment bank at 3 Finsbury Avenue, near Liverpool Street station.The bank’s wealth management operations will move during the course of this year, after having been based at 1 Curzon Street, Mayfair, for the past 12 years.The vacation will leave almost 70,000 square feet of rented office space available on Curzon Street, which property consultant Lang LaSalle has been appointed to fill. Share More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comlast_img read more

Canadian regulator to check LSE deal in public interest

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Canadian regulator to check LSE deal in public interest Wednesday 23 February 2011 10:01 am Show Comments ▼ whatsapp Share whatsapp Tags: NULL alison.lock Ontario’s securities regulator is to consider whether the proposed takeover of exchange operator TMX Group by the London Stock Exchange is in the public interest.Despite this, Howard Wetston, chair of the Ontario Securities Commission, said he could not say what specific metrics would be used to assess the deal, which would create a transatlantic exchange operator with a $7bn (£4.33bn) market capitalisation.“I can’t define public interest but I sure know it when I see it,” Wetston told The Economic Club of Canada. He said one of the issues to be considered was share ownership. The deal would give a single shareholder – Borse Dubai – more than ten per cent ownership in the combined company.“OSC’s approval is required for any party to acquire more than ten per cent ownership of the voting shares of the TMX Group,” he said. “This share restriction will be considered in the OSC’s review of the transaction.”Canada’s fragmented regime of federal and provincial oversight assures the transaction faces a complex approval process that could stretch out until the end of the year. The federal government and at least four provinces – Ontario, Quebec, Alberta and British Columbia – will have a say.In Ontario, both the OSC and the provincial government will have input in the approval process.Ontario’s Liberal government said on Tuesday it planned to have an all-party committee of the legislature review the bid.“Depending on the focus of the legislative committee, its report may inform the commission’s deliberations with respect to the issues it needs to consider during its review,” Wetston said on Wednesday.Ontario Finance Minister Dwight Duncan has emerged as the most vocal critics of the deal, and opposition parties have echoed his skepticism about how it would affect the province and the country. last_img read more

Ocado sales up 25pc

first_img Share Friday 4 March 2011 3:06 am Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealthyTed Health Magazine10 Surprising Benefits of Bananas You Possibly Didn’t Know AboutHealthyTed Health MagazineUndoAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoTaonga: The Island FarmAdvertisement The Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoForge of Empires – Free Online GameIf You Like to Play, this City-Building Game is a Must-Have. No Install.Forge of Empires – Free Online GameUndoElvenarAdvertisement If You Need to Kill Time on Your Computer, this Fantasy Game is a Must-Have. No Install.ElvenarUndoAll Things Auto | Search AdsNew Acura’s Finally On SaleAll Things Auto | Search AdsUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndoBest Selling Grills | Search AdsTraeger Blaze & American Grills On SaleBest Selling Grills | Search AdsUndoSonoviaStoreThese Amazing Pillowcases Got It Just Right!SonoviaStoreUndo John Dunne Online grocer Ocado posted a 25 per cent rise in first-quarter sales and said it remained profitable, despite a challenging economic backdrop which has hit many retailers hard.The group, which mostly sells the products of grocer Waitrose, said it made gross sales of £146.2m in the 12 weeks to 20 February, in line with the trend reported at annual results last month.“Despite the economic headwinds in the UK, more and more consumers are seeing the benefits of online grocery shopping and we are increasing capacity to meet this demand,” Chief executive Tim Steiner said.Many retailers are struggling as shoppers face higher energy and food prices and worry about rising interest rates and job security as the government cuts public spending.Ocado has said capacity constraints at its distribution centre in Hatfield are its main brake on growth.It is investing to increase capacity to 180,000 orders per week, up from a maximum of around 124,000 in the first quarter and also building a new distribution centre for the end of 2012.Ocado shares have been on a rollercoaster ride since listing at 180 pence in July.After dropping to 120.9 pence last year, they rallied to as high as 290 pence this year as the group announced its first quarterly pretax profit and speculation swirled it might become a bid target for a British grocer or US group Amazon.They have since fallen back after the pension fund of retailer John Lewis, the parent company of Waitrose, sold its ten per cent stake in the business and Waitrose stepped up investment in its own online business. Ocado sales up 25pc whatsappcenter_img More From Our Partners Porsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Tags: NULL whatsapp Show Comments ▼ last_img read more