What to watch when the European Central Bank reveals its latest monetary policy decision

whatsapp The monetary policy decision comes at 12:45 GMT, but markets will be watching just as closely during the press conference 45 minutes later, when ECB president Draghi will face scrutiny from the world’s media at a press conference.While expectations are firmly against any change in monetary policy, as ever the tone of proceedings will be just as important. Here’s what to look out for.Dissent from DeutschlandThe latest ECB minutes pointedly showed that “ a few members” of the Governing Council, which is drawn from the Eurozone member states, dissented from the continuation of QE.All fingers immediately pointed at Germany, whose Bundesbank president, Jens Weidmann, has been outspoken in his opposition to QE. He thinks it should be reserved as an emergency measure, and that it punishes savers.Draghi is bound to face questions on this, so listen for any signs of argument over asset purchases.The many faces of inflation After Janet Yellen gave a surprisingly hawkish speech to San Francisco’s Commonwealth Club last night, today’s turn in the monetary policy spotlight belongs to Mario Draghi.The Governing Council of the European Central Bank (ECB) meets today at its Frankfurt headquarters to discuss its three interest rates (currently near zero) and its controversial asset purchase programme, better known as quantitative easing (QE). whatsapp What to watch when the European Central Bank reveals its latest monetary policy decision One of the reasons German economists in particular dislike QE is the fact their economy is heating up far more than the rest of the Eurozone. Europe’s largest economy saw inflation more than double in December to 1.7 per cent, driving the headline inflation figure up across the Eurozone.However, the ECB is likely to signal it will not act too early as deflation is still a threat in parts of the bloc, such as Ireland, while price growth in other vulnerable countries such as Greece and Cyprus is still meagre.Add to that the fact that core inflation, which strips out volatile components such as oil prices, remains below one per cent and there’s little incentive for the ECB to tighten now.Bond buying botherationThe last set of minutes also showed “concerns relating to the scarcity of German sovereign bonds” were a factor in reducing bond purchases, which are aimed at pushing money off bank balance sheets into the broader economy. Thursday 19 January 2017 9:40 am Jasper Jolly Share At the last meeting purchases were reduced from €80bn to €60bn, although the duration of the purchases was extended. Draghi was clear in his efforts to fight talk of a “tapering” in the programme.However, if there are signs of liquidity problems in QE bond buying and no further moves to broaden the universe of eligible bonds that could force the ECB to tighten earlier than planned.Trumpflation and BrexitAs ever, a conversation about Europe’s finances will morph into a conversation about global politics. The day before the inauguration of Donald Trump as US President, Draghi is bound to face questions about whether the new administration’s reflationary policy could cause problems for the Eurozone.Close to home, another ugly portmanteau will be occupying EU policymakers (and journalists, and everyone else) for the next two years at the very least: Brexit. Draghi is certain to be asked about the potential impact on Eurozone growth, with all of its implications on monetary policy.Those shocks to the EU politicians have already happened, but there could also be more to come, with anti-euro challengers expected to put up a scrappy fight in France, the Netherlands, and even Germany. It won’t be a boring year for the ECB.[custom id=”190″] by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsPost FunCops Called To Investigate Smell From Abandoned House Didn’t Expect To Find ThisPost FunPensAndPatronTori Roloff Confirms Devastating News About The FamilyPensAndPatronMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity Week read more

Saudi Aramco eyes bankers for what could be the world’s biggest float

Saudi Aramco eyes bankers for what could be the world’s biggest float Shruti Tripathi In October, Nasser said that London was in the running to stage the listing.Other markets the oil goliath is eyeing up include New York, Hong Kong and Japan.The Dhahran-headquartered firm boasts an average daily crude production of 10.2m barrels per day and has natural gas reserves of 297.6 trillion standard cubic feet.Read more: London could be in line for part of the $2 trillion Saudi Aramco IPOLast year, Mohammed bin Salman, Saudi Arabia’s deputy crown prince, revealed the kingdom was very keen to list shares in Saudi Aramco. Share Tuesday 24 January 2017 7:10 pm whatsapp Banking giants are reportedly being invited to weigh up the value of Aramco’s business and help facilitate its share sale.The exact size of the share sale is yet to be confirmed.Read more: Saudi Arabia’s gormless cheerleaders have failed to spot the looming crisisHowever, Saudi Aramco’s chief executive Amin Nasser said in October that up to five per cent of the company could be floated by as early as 2018.If the share sale goes ahead as planned, Saudi Aramco could become the world’s most valuable company dwarfing the likes of Apple, Exxon Mobil, Berkshire Hathaway and Google among others. Global banking giants are set to compete for an advisory role on oil goliath Saudi Aramco’s multi-billion-dollar float, which is expected to be the world’s biggest initial public offering.The Saudi state-owned firm, thought to be the world’s largest oil producer, has requested proposals from banks including Morgan Stanley and HSBC, sources told Reuters late last night. Its float ambitions are part of Saudi Arabia’s plans to reduce its reliance on oil as it looks for new revenue streams and attracts more investment.“Personally I’m enthusiastic about this step. I believe it is in the interest of the Saudi market, and it is in the interest of Aramco,” Prince Mohammed told the Economist in an interview last year.The appointment of banks is expected to be finalised by the end of the year. whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity WeekUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndo2021 Buicks | Search AdsIntroducing The Head Turning 2021 Buicks!2021 Buicks | Search AdsUndo read more

George Orwell’s 1984 has shot to the top of bestseller lists because Trump

Share George Orwell’s 1984 may be a perennial classic, but it’s been a long time since it was at the top of bestseller lists. Until now, that is…The novel, first published in 1949, has shot to the top of Amazon’s best sellers list – with its rise attributed by many to the Trump administration’s use of the phrase “alternative facts”.  Wednesday 25 January 2017 10:32 am In fact, so popular has it been, Penguin has had to print another 75,000 copies, according to CNN. “We put through a 75,000 copy reprint this week,” a Pengiun spokesperson told the broadcaster. “That is a substantial reprint and larger than our typical reprint for ‘1984’.”Why all the fuss? On Sunday, Trump’s special adviser, Kellyanne Conway, told an NBC reporter press secretary Sean Spicer was using “alternative facts”, after some of his comments – including ones about the size of the audience at the President’s inauguration – were called into question by the media.That led to many accusing Conway and Spicer of using “newspeak”, a phrase invented by Orwell in 1984 to describe a fictional language in which facts are distorted by simply erasing certain words. George Orwell’s 1984 has shot to the top of bestseller lists because Trump whatsapp In the novel, those in control try to prevent individual thought with “doublethink”, described by Orwell as “the power of holding contradictory beliefs in one’s mind simultaneously, and accepting both of them”. Although 1984 is currently the best-selling book in the US, in the UK’s version of Amazon’s best seller list it is in 13th position.Read more: Trump is wrong: Protectionism leads to misery, not prosperity Emma Haslett whatsapp read more

Miton shares leap 10 per cent as asset manager reports 70 per cent profit jump and management shake-up

There have been two large tie-ups announced in recent months at the top end of the asset management industry, between Henderson and Janus and Aberdeen Asset Management and Standard Life.Asked if he expects consolidation at his end of the market, Barron said: “From our perspective, we can thrive as an independent firm. We’ve got financial strength, we’ve got a good market position, we don’t need to take a lot of market share off other people to grow.“I think there may be others who want to look at that, but… if you have distinctiveness and you run your firm sensibly with good cost control, I think there’s still a good future for independent small firms.”Read more: Jupiter boss plays down M&A rumours: “We’re not looking to be acquired”What the company saidDighé added: Miton shares leap 10 per cent as asset manager reports 70 per cent profit jump and management shake-up More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA 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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPuffer fish snaps a selfie with lucky divernypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com William Turvill whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBedtimezMan Gives Girlfriend A Necklace, 2 Years Later She Screams When She Realizes What’s InsideBedtimezanymuscle.comDiabetes and kidney failureanymuscle.comLas Vegas Real Estate | Search AdsReal Estate Prices in Las Vegas Might Surprise YouLas Vegas Real Estate | Search AdsArticles SkillHe Left Wife For Her Sister, Then She Wins It AllArticles SkillWeniixTop 5 best sports cars 2021 – WENIIXWeniixFitSavage18 Stretches to prepare you for doing the splitsFitSavageHotPopToday25+ Hilarious Boating Fails Just Don’t Make SenseHotPopTodayhttps://recipesdreams.comTOP 10 simple recipes to recycle overripe bananashttps://recipesdreams.comHorizontimesRemember Her? Wait ‘Till You See Her NowHorizontimes Thursday 16 March 2017 3:52 pm The business has demonstrated its resilience with momentum regained since the half year. Gross sales during 2016 were in excess of £1.1bn which is a testament to the quality of our fund management team and a differentiated and attractive product offering.Over the past year, Miton has continued to build its distinctive identity as a genuinely active fund manager. The acceleration of our growth over recent quarters underlines our confidence in our prospects. Miton has an outstanding team, and along with a maturing range of funds, having reached £3,097m AuM at the end of February, we look forward to 2017 and beyond. Adjusted pre-tax profits for the year were up 70 per cent to £5.1m. The asset manager proposed a dividend of 1p, up 49 per cent.Miton’s share price leapt 10 per cent to 41p on Thursday after reporting the results and announcing changes in senior management.Read more: Brexit challenger Gina Miller attacks active fund management industryWhy it’s interestingExecutive chairman Ian Dighé today said that he would be stepping down to become non-executive chairman. In another move, David Barron has assumed the position of interim chief executive.Barron told City A.M. he was pleased with a “strong set of results” and believes there is a “growing momentum in the group”. whatsapp Fund manager Miton’s share price leapt 10 per cent today as the company announced a 70 per cent jump in profits and a senior management shake-up.The figuresMiton’s assets under management (AUM) at 31 December were £2.91bn, up from £2.78bn a year before. Share read more

Even the Venezuelan President knows that socialism has failed

whatsapp Even the Venezuelan President knows that socialism has failed Rachel Cunliffe Never one to waste an opportunity to cement his authority, Maduro’s government has blamed two high-profile opposition lawmakers, and hurled accusations about the involvement of far-right Colombians and, naturally, the US.Read more: Venezuelan crude exports faced with 24m barrel backlogIn return, opponents have speculated that the attack was staged by the government to give it cover for a crackdown on critics.This isn’t that far-fetched.In the past three years, Maduro has used every trick in the dictatorial book to quash dissent, including arresting opposition leaders, rewriting the country’s constitution, and manufacturing a brand new “National Constituent Assembly” crammed with his supporters (including his own wife) to overrule the democratically elected opposition-led legislature. Venezuela is back in the news, with a plot straight out of a Netflix drama storyline.The apparent assassination attempt on President Nicolas Maduro last Saturday has everything: a drone explosion during the President’s speech, the terrified reaction of his wife captured during a live broadcast, and now a slew of accusations and counter conspiracy theories. Friday 10 August 2018 1:45 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.commoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comPost FunDiana’s Butler Explains Why Harry Is With MeghanPost FunMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThis Woman’s Obituary Was So Harsh, Her Son Was Left ReelingTotal PastOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It Love The country has long been suffering acute shortages of food, staple goods, and medicines, but the government has even run out of money for printing its rapidly devaluing banknotes (which are worth less than the fake currency used in the World of Warcraft games).All this is the direct result of the statist agenda Maduro adopted from his predecessor, world-renowned arch-socialist Hugo Chavez, and has been pursuing since 2013 with increasing desperation.Private firms (starting with oil businesses but extending to other sectors, from aerospace to supermarkets) have been seized by the state – the government now runs over 500 companies, very few of them profitable.Restrictive foreign exchange controls are about to be lifted, but only after a decade of irreparable damage to investment.Businesses face a mandated cap on profits, a tangle of unworkable regulation, and the constant threat of being taken over by the state. Faking an assassination attempt isn’t that much of a stretch.But even accepting that the attack was real, Maduro has bigger problems on his hands than the small matter of people trying to kill him. And he knows it.To say that Venezuela is an economic basket case is an understatement. Its financial predicament can only be described in superlatives and ludicrous exemplars.Inflation is over 110 per cent per month and is estimated to hit one million per cent per year by the end of 2018. Its entire economy is based on oil production, which has collapsed disastrously under the tenure of the state-owned energy giant.The army has been brought in to hand out what little food is available, and since public transportation can no longer afford to run, buses have been replaced with dangerous and illegal pickup trucks that ferry crowds of people around, nicknamed “kennels”. Share Meanwhile, rock-bottom price controls have fuelled a vicious black market, and the army is routinely brought in to clamp down on violent – sometimes fatal – street riots. And that’s before we even mention the drugs trade.None of this is news. Venezuela’s demise has been routinely documented in the finance and foreign pages over the last five years, alongside analysis of how its nascent democracy has similarly spiralled.What is new, however, is the President’s sudden change of tone.On the Monday before the drone attack, Maduro had a surprising message for the congress of his ruling socialist party: “the production models we’ve tried so far have failed”.In what sounded almost like an admission of accountability, he continued “the responsibility is ours, mine and yours”, before urging his party “no more whining, I want solutions, comrades”.The solutions for Venezuela are few, and Maduro won’t like them.Scrap the socialist model – and the socialist government along with it – and start again. Admit the scale of the crisis and allow in humanitarian agencies to deal with the immediate disaster. Petition for emergency international financing and strike a debt deal. Over the longer term, launch a new dollar-backed currency, repeal the reams of red tape, and let the private sector (particularly foreign firms) back in.None of this can realistically happen under a man who spends his days pursuing the exact opposite course and orchestrating his country’s economic collapse.Maduro has gone too far down the socialist rabbit hole – with the authoritarian crackdowns on dissent that inevitably go with it – to turn back now. All he has left is his populist appeal, that will crumble at the first hint of reversal.He might now finally be able to recognise the devastation he has caused, but with that epiphany must come the realisation that the only way he could fix it is to step down.And no one who has spent half a decade distorting the political institutions of his nation to safeguard his own power would ever do that.But Maduro’s admission, however useless and overdue it is now, at least demonstrates that the country is at breaking point. Even the President knows that there is nothing he can do to get the economy back on track and stay in power.An assassination attempt, real or otherwise, is the least of his worries.Read more: McDonnell: Venezuela is in crisis because it’s ‘not a socialist country’City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. whatsapp read more

Boris Johnson’s flagship cycle superhighway costs £62,000 for every extra cyclist

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryHouse CoastPregnant Beggar Was Asking for Help, But Then One Woman Followed HerHouse Coastmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBetterBe20 Stunning Female AthletesBetterBeWTFactsHe Used To Be Handsome In 81s Now It’s Hard To Look At HimWTFactsMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverst Boris Johnson’s flagship cycle superhighway costs £62,000 for every extra cyclist whatsapp Boris Johnson’s controversial cycle superhighway, heralded as London’s “Crossrail of cycling”, is costing taxpayers tens of thousands of pounds for every new cyclist it attracts, according to new figures. Tuesday 18 September 2018 4:52 pm Sebastian McCarthy whatsapp Share 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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans 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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comColin Kaepernick to publish book on abolishing the policethegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKansas coach fired for using N-word toward Black playerthegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com “If you go down to the cycle lane outside of rush hour, there’s nobody on it. It’s a ghost town and that just reinforces the problem with it.”However, Ben Plowden, director of strategy and network development for TfL Surface Transport, said: “Cycling is the fastest growing form of transport in London, with the number of journeys growing by 154 per cent since 2000. New and safer cycling infrastructure brings a wide range of benefits to everyone, by reducing danger to the most vulnerable road users, improving air quality and health, making more efficient use of roadspace and boosting local economies and tourism.”Read more: Plus-size retailer N Brown Group announces CEO’s exit“Taxpayers have shelled out a fortune for a scheme with user forecasts that don’t seem to be aligned with reality, and it has left motorists and hauliers worse off as they are facing longer journey times,” according to John O’Connell, chief executive of the TaxPayers’ Alliance. “This is what happens when fads are put before thinking.”O’Connell added: “Travel habits can and will change over time as innovation and research unveil cleaner and greener ways to travel, and it’s crazy to inflict economic self-harm and ask taxpayers to pick up enormous bills in the meantime.” Today’s new information from Transport for London (TfL) is likely to provide fresh ammunition to critics of the £47m project, which has come under fire from taxi drivers and hauliers because of the slower traffic journey times it has brought about.On the superhighway’s East West route from Tower Hill to Lancaster Gate there are roughly 754 more riders per day compared with 2014/15, which means the flagship scheme has cost over £62,000 for every extra cyclist attracted to the route.TfL’s commissioner Mike Brown recently said that the speed at which the project was delivered was “ill-judged”.Read more: Ride-hailing firm Taxify enters the electric scooter marketSteve McNamara, general secretary of the Licensed Taxi Drivers’ Association, told LBC: “This cycle lane has been an absolute disaster for London. It was put in the wrong place at the wrong time. Tags: Boris Johnson Crossrail People Transport for Londonlast_img read more

Barclays faces probe from Treasury Select Committee into six-hour outage

first_imgThursday 20 September 2018 5:48 pm Tags: Barclays Company The cause of the outage is “currently under investigation”, the bank said. Regulators at the Financial Conduct Authority were informed during the day.A Barclays spokesperson said: “We’re very sorry about the technical problems our customers have experienced today. Everything is now back up and running, and we’re really grateful for customers bearing with us.” Barclays faces an investigation from the Treasury Select Committee after it yesterday became the latest lender to experience a major systems failure. Share whatsapp Jasper Jolly center_img Barclays faces probe from Treasury Select Committee into six-hour outage Read This NextIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamour20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The WrapTop 5 Tips If You’re Losing Your EyebrowsVegamourJim Cramer Calls for Billionaire Tax: ‘This Society Has to Start AddressingThe WrapWhat Causes Hair Loss? Every Trigger ExplainedVegamour’Drake & Josh’ Star Drake Bell Pleads Guilty to Attempted ChildThe WrapSmoking and Hair Loss: Are They Connected?VegamourThis Is How Often You Should Cut Your HairVegamour’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp Millions of customers were unable to access online banking, telephone banking, as well as branch services for as long as six hours.The Treasury Select Committee is likely to ask the bank similar questions as those faced by payments firm Visa, banking services firm Cashplus, and high street challenger bank TSB, City A.M. understands.Previous committee probes have also dragged company bosses in front of MPs in Parliament. Barclays Bank UK is led by Ashok Vaswani, who reports to Jes Staley, the chief executive of the parent company.The scrutiny of the committee can prove damaging: TSB chief executive Paul Pester stepped down in the aftermath of the crisis, although outages in that case lasted weeks, rather than hours.Problems at Barclays began yesterday morning at 10:44 and lasted until after 4pm, the bank said. The affected services were unavailable for all users.last_img read more

Blackstone challenges Bloomberg with deal for $20bn Thomson Reuters arm

first_imgTuesday 2 October 2018 5:20 pm Blackstone challenges Bloomberg with deal for $20bn Thomson Reuters arm The deal, which values the business at around $20bn (£15.5bn), sees the Blackstone-led consortium of private equity funds take a 55 per cent stake. Thomson Reuters keeps 45 per cent of the business, which will be renamed Refinitiv​.The move will challenge Bloomberg, as Blackstone buys one of the world’s largest financial markets data providers with more than 40,000 institutional customers in 190 countries.As part of the deal, Refinitiv also agrees to pay $325m a year, for 30 years, to Reuters to help fund its news service. Thomson Reuters gained about $17bn in gross cash proceeds as the deal closed. Around $10bn will be returned to shareholders, a further $4bn will be spent to redeem debt, with $2bn to fund acquisitions. Share Refinitiv chief executive David Craig said: “This is a unique moment in our 160-year history as the financial and risk business of Thomson Reuters now steps forward as Refinitiv.”“We firmly believe that efficient, transparent and trusted markets are good for all and that Refinitiv’s role is at the heart of this, providing access to clean and consistent data on a global scale.”He added: “With the backing of our investors, Refinitiv will continue to deliver the critical data, insights and open technology infrastructure that the market has come to expect while driving progress for our customers across trading, risk, banking, wealth and investment management and in areas such as financial crime and ESG investment. We look forward to exciting times ahead.”Blackstone becomes a partner to Thomson Reuters in a section of the business which has struggled with a shrinking customer base.Ii plans to invest in Refinitiv’s trading platforms, indices, risk management, and fighting financial crime. August Graham Tags: Private equitycenter_img Eli Nagler, a managing director at Blackstone, said: “We are excited to complete this transaction and look forward to supporting Refinitiv’s growth and continued technology advancements in the years ahead.” Private equity giant Blackstone has completed its biggest investment since the 2008 financial crisis by taking over Thomson Reuters’ financial and risk unit.  whatsapp whatsapp last_img read more

Londoners flock to the country, snapping up £30bn of property outside the capital in 2018

first_img More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPuffer fish snaps a selfie with lucky divernypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative 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 This year, 74,350 Londoners bought outside the city, a 3.8 per cent rise year-on-year, but still 39,390 less than in 2007, according to research by estate agent Hamptons International.But despite house prices in the capital dipping 0.5 per cent year-on-year, the average price of homes bought outside London was the highest on record, at £398,910.Most Londoners fleeing high property prices remained in the south of England, with more than three-quarters (77 per cent) leaving for the south-east, south-west or east of the country.But with affordability in the capital stretched, more Londoners than ever moved further afield. This year one 21 per cent moved to the Midlands and north of England, up on 15 per cent in 2015 and just 7 per cent in 2008.Aneisha Beveridge, head of research at Hamptons International said: “Historically most people moving out of London have done so because of changing priorities, such as starting a family or generally wanting a slower pace of life. whatsapp Tags: Trading Archive “But increasingly as affordability in the capital is stretched, more households are looking beyond the confines of London to buy their first home. For many this means moving further afield to areas such as the Midlands and North where they can get more for their money.“Despite a rise in the number of London leavers this year, 2018 is likely to be a peak. A slower housing market in 2019 will likely mean that we see fewer Londoners buying homes outside of the capital than in 2018.”Hertfordshire commuter borough Broxbourne drew the most London leavers in the east of England, while Sevenoaks was the most popular location in the south east. Bath and north east Somerset were the most popular locations in the south west. Sharecenter_img Wednesday 26 December 2018 10:39 am whatsapp Alex Daniel Londoners left the capital in their droves this year, buying £30bn worth of property outside the city as they sought to sidestep expensive house prices.The value of property bought outside the capital by Londoners was at its highest level since 2007 when the figure was £37bn, the highest on record. Londoners flock to the country, snapping up £30bn of property outside the capital in 2018 last_img read more

Brexit, ad fraud and #MeToo – what does the future year hold for the marketing industry?

first_img Brexit, ad fraud and #MeToo – what does the future year hold for the marketing industry? “This figure will increase next year, as more connected devices are added,” warns Angus McLean, senior partner at Ebiquity.“Large advertisers employing ad fraud and brand safety tools by default will multiply — but small and medium-sized enterprises may be unwitting victims.”He adds that the industry will start to move towards more stringent benchmarks, such as the Internet Advertising Bureau’s Gold Standard.“We should not be lulled into false sense of security, though. Ad fraud will not go away. It will become more sophisticated and harder to detect. Large sums to be made and the low risk of getting caught will continue to be a carrot to digital wrongdoers.”In-house versus agencyA major trend last year was for businesses to start keeping their marketing in-house, rather than outsourcing it to agencies. But Mike Teasdale, founder and planning director at Harvest Digital, doesn’t expect this to remain the case in 2019. But what about the year ahead? To find out what trends to look out for, I asked the experts for their big predictions for 2019.The B-wordSorry, I couldn’t go one whole article without mentioning the impact of Brexit, so let’s get it out of the way early. Marketing will obviously be strongly affected by the UK’s departure from the EU in three months’ time, just like many other sectors – perhaps more so. If the post-Brexit climate has a negative impact on UK businesses, it is likely that advertising budgets will be among the first to be cut.“If there is pain in the economy, our sector will feel it,” warns Marc Nohr, chief executive at Fold7.“But the advertising business has proven itself able to adjust over the years – either to external macro-economic shocks or to technological disruption. Sometimes those drivers of change can have brutal effects, but pressure can also lead to lateral and creative solutions.“And we are nothing if not an entrepreneurial problem-solving bunch.”The year of long-form content whatsapp Tags: Amazon Brexit Company Data protection Diageo Facebook Google Martin Sorrell People Senior Unilever by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.combonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.cominvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comHero Wars This game will keep you up all night! Hero Wars Rebecca Sykes, chief executive of MOFILM, predicts that marketers will switch to making long-form content that’s more engaging, rather than short, disposable content that only lasts a few minutes.”In 2019 this bubble is going to burst. Because while short form ‘snackable’ content certainly has a role, brands are struggling to entertain, inspire and inform their audiences within such restrictive parameters,” she says.”We’ve already seen brands investing in long-form this year. Adidas have been building brand loyalty with their long-term Tango Squad series, referring to it as their ‘lean backwards’ activity aimed at getting deeper engagement with football fans. Meanwhile, clothing brand Patagonia continue to engage their community through an impressive anthology of inspirational documentaries ranging from 2 to 40 minutes.”False advertisingAs more marketing budgets flow towards digital and away from broadcast, the industry will continue to be vexed by online ad fraud – where the number of advertisement clicks and impressions is artificially inflated in order to generate more revenue.A study by Adobe estimated that around 28 per cent of internet traffic comes from bots and other “non-human” sources – this means that nearly 30 per cent of an ad’s audience will never even consider buying the product. whatsapp “In reality, agencies will either be retained, or simply used in a more strategic way to fill in the gaps around an in-house team,” he says.“This is because hoping to hire one or two people to replace an agency underestimates the complexity of digital marketing. Typically, a campaign would be touched by planners, copywriters, designers, data scientists, user experience specialists and optimisation managers.”Teasdale adds that there is greater competition for talented digital marketers, especially outside of London.“All of this heightens the chances of costly inefficiencies which, given that agency fees are relatively small in comparison with overall spend on digital media, can easily outstrip any potential savings.”#MeToo marketingIn December, the UK’s advertising watchdog announced new rules to crack down on the sexist gender stereotyping in ads. This and other factors, such as the ongoing #MeToo movement, will compel brands to take the portrayal of women in advertising much more seriously this year.“There are still many people in the marketing industry who don’t realise that there is a problem,” writes Duncan Southgate, global media brand director at Kantar’s Insights Division, in the company’s media predictions report.“But in 2019, evidence will continue to emerge showing that gender targeting is not sufficiently progressive. Women cannot relate to many of the ads they see, and progressive male role models are also a rare sight.”To fix this, Southgate predicts that marketers will proactively address their biases by examining case studies, testing content against gender equality metrics, and applying more checks and balances to ad campaigns.“It may not be until 2020 before we see many advertisers making progressive targeting seem like second nature. The ones who will get there first will be marketers who establish progressiveness measurement systems to benchmark themselves and drive institutional change, like Diageo and Unilever. Gender targeting is obviously just one aspect; other factors such as race, sexual orientation and age are also vital considerations.”What did I miss?These are just some of the challenges facing marketing this year. There is also the EU’s ePrivacy Directive (effectively an even stricter form of GDPR) due to come into force this year or next. And Facebook and Google need to watch out for Amazon, which is expected to disrupt the online ad publishing model.Then there’s the rise of artificial intelligence and machine learning, which will enable marketers to target consumers with highly personalised advertising – this would be very impressive if it wasn’t also a bit creepy.And this will all take place against the backdrop of political upheaval, a protracted international trade war, and a potential economic downturn.Marketers may therefore have their work cut out for them convincing us consumers to part with our hard-earned cash in such turbulent times. Luke GrahamLuke is a former City AM features writer, now features editor for Tyto PR We are out of the cold December of 2018, and have now entered the, well, even colder January of 2019.Last year was a momentous one for the marketing industry – there was the fall and rise again of adland stalwart Martin Sorrell; the European Union’s General Data Protection Regulation (GDPR) finally came into force; and social media influencers continued to cement themselves as an integral (if controversial) part of the advertising landscape. 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