Best of the Brokers for 29 October 2014

first_imgTuesday 28 October 2014 8:35 pm Express KCS To appear in Best of the Brokers, email your research to [email protected] DIAMONDSBarclays Equity Research reiterated its “overweight” rating despite seasonally weak demand in the diamond industry. The broker maintained its 12-month price target of 290p for Petra and stated that it expected demand to firm up and management to maintain its price guide.SIGNumis reiterated its “buy” rating although it noted that SIG’s exposure to the French and German construction sectors could lead to a downgrade in growth prospects in 2015. However, the broker said a strong track record and good prospects in the UK still made the shares good value. whatsapp Tags: NULL Best of the Brokers for 29 October 2014 More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.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.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comConnecticut man dies after crashing Harley into live bearnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comcenter_img Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramUndoinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsUndoMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekUndoEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorUndoPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunUndo whatsapp Share last_img read more

Business confidence in Germany picks up after year of decline

first_img Show Comments ▼ whatsapp Share whatsapp Chris PapadopoullosChris Papadopoullos was City A.M.’s economics reporter until February 2016. He is an economist at OMFIF. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Monday 24 November 2014 8:53 pm Business confidence in Germany has suddenly halted its sharp decline,a set of new data shows.The Ifo business climate index published yesterday by the Centre for Economic studies at Munich University rose to 104.7 in Nov­ember from 103.2 in October, ending six months of decline.The score is such that 2005’s level is marked as being 100, so levels of sentiment are now marginally higher than in 2005. The rise reflected an improved assessment of the current economic situation and better expectations for the Germany economy.At the beginning of the year, the business climate index was 110 and has been falling since.“It is far from certain that any rise in business confidence will have any material impact at least in the short term in lifting investment plans and supporting employment,” said economist Howard Archer of market analyst firm IHS.“It will highly likely need sus­tained improvement in business confidence for this to happen.”A turnaround in German fortunes would be welcomed by Chancellor Angela Merkel, who has so far refused to bow to pressure to provide the economy with fiscal stimulus. Instead, Merkel has insisted on balancing the books. Tags: NULL Business confidence in Germany picks up after year of decline last_img read more

Tesco in further turmoil after profits tumble

first_img Tesco in further turmoil after profits tumble Kasmira Jefford Tuesday 9 December 2014 8:53 pm whatsapp Show Comments ▼ whatsapp Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveHero WarsThis game will keep you up all night!Hero WarsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald  Investors fled for cover yesterday as Tesco warned on profits for the fourth time in five months, raising fears in the City that the ailing supermarket could become a takeover target.  Analysts at investment bank Espirito Santo compared Tesco’s demise to that of Sears in 2004, when the US retailer – once the biggest in the country – was taken over by Kmart. Like Tesco, Sears was burdened by a huge store portfolio and was struggling against stiff competition from cheaper rivals such as Target and Wal-Mart. “We think the Sears example provides a stark reminder that big companies can potentially fail despite their size,” Espirito Santo analyst Tony Shiret said. “The best case scenario for Tesco is private equity or retail interest, which could prove optimistic given Tesco’s high leverage and dwindling freehold,” he added.  Tesco’s shares plunged 13 per cent yesterday as the supermarket group said trading profits for the year to February would not exceed £1.4bn.  That is almost 30 per cent below analysts’ forecasts of £1.94bn. It also compares with already lowered estimates of £2.4bn after its profit warning in August and a month before it revealed a £263m black hole in its accounts. Broker Cantor Fitzgerald downgraded its UK trading profit for Tesco’s second half to just £15m, down 98.6 per cent. Chief executive Dave Lewis said the profit shortfall was the result of steps taken in recent weeks to nurse the business back to health, including “resetting” its relationship with suppliers, recruiting an extra 6,000 staff, increasing availability on its popular lines and slashing more prices.  He said it had also axed certain “artificial measures” Tesco used to carry out at the end of the financial year to hit profit targets, such as reducing the number of staff in its stores after the Christmas rush to save costs. “There are certain things you can do to run the machine slightly leaner in the last quarter of the year, but that impacts quality and service,” he said. “We’ve taken the decision that that’s not what we want to do.” These actions have cost Tesco more than £500m, Lewis said, adding that so far the feedback from customers, staff and suppliers was “encouraging”.  He added: “We are taking a surgical approach without impacting what is a very important time of year.” Tesco said it would share more details about the measures it would to take to  “improve the competitiveness of the UK customer offer” and “strengthen its balance sheet” in its update on 8 January.  The prospect of a right issue, as well as asset disposals, now appears more likely, analysts said. And having already slashed its first-half dividend by 75 per cent, analysts also fear the final dividend may be scrapped altogether. “The announcement prolongs the agony investors have to endure before the business can grow again,” Shore Capital analyst Clive Black said.   Meanwhile, credit ratings agency Moody’s yesterday kept its Baa3 rating, but warned of “increased negative pressure on its current rating”.   …BUT THE CITY BACKS LEWIS DESPITE PROFIT DIVE Tesco’s shares have nearly halved over the past year after accounting scandals, profit warnings, high-profile exits and sliding sales. Several shareholders, including Warren Buffett’s Berkshire Hathaway and Harris Associates, have fled the business, but others see Tesco’s woes as an opportunity in the long term. Ian Kelly, a fund manager at Schroders, which holds a 1.67 per cent stake in Tesco, said: “While most investors are focusing heavily on the bad news, uncertainty and panic can create exceptional opportunities for long-term value investors like us”. HSBC analyst Dave McCarthy also believes Tesco “still has the potential to be a strong UK market leader”, but warned that it needs to start delivering improvements in sales sooner rather than later.   Meanwhile, Shore Capital’s Clive Black said: “Lewis is doing the rights things. He is simplifying Tesco but it is a more complex and a more messy business than we first thought… It also means that there is more fog in terms of Tesco’s financial outlook”. LEWIS’ 100 DAYS OF WOE ■ 1 September Dave Lewis is parachuted in as chief executive of Tesco one month early.■ 22 September Tesco shares plunge as it admits to overstating its profits by around £250m in relation to supplier payments. Four senior executives are suspended.■ 23 September Former Marks & Spencer finance director Alan Stewart joins as Tesco’s new finance boss two months earlier than planned to help with the accounting probe. ■ 24 September Tesco’s second biggest shareholder, BlackRock, sells a chunk of its 5.03 per cent stake. ■ 25 September Sports Direct owner Mike Ashley makes a £43m bet on Tesco after entering a put option agreement.■ 2 October Warren Buffett says buying shares in Tesco was “a huge mistake”.■ 6 October Tesco appoints Mikael Ohlsson, the former boss of Ikea, and Compass chief  Richard Cousins, as non-executive directors.■ 14 October The group suspends three more top executives taking the total to eight. ■ 23 October Interim results show Tesco’s profit overstatement is higher than originally estimated at £263m. Chairman, Sir Richard Broadbent, says he intends to step down.■ 24 October Harris Associates, once Tesco’s seventh biggest shareholder, confirms it has sold its remaining stake in Tesco.■ 27 October Tesco reveals Lewis has been handed £4m golden hello in share options.■ 29 October The SFO says it has begun a criminal investigation into Tesco practices.■ 1 December Lewis takes over the day-to-day running of the UK business after Tesco’s poor handling of Black Friday when police had to be called into some of Tesco’s overcrowded stores.  Sharelast_img read more

Saudi Arabia oil minister Ali al-Naimi: We won’t cut production to prop up prices

first_img Saudi Arabia’s oil minister has insisted the country will not cut oil production to prop up prices, despite the key commodity collapsing by a further 25 per cent in value over the past month. “Whether it goes down to $20, $40, $50, $60, it is irrelevant,” Ali al-Naimi said yesterday.  “We are going to continue to produce what we are producing, we are going to continue to welcome additional production if customers come and ask for it.” Brent crude oil prices – an oil price benchmark – dropped by 2.17 per cent yesterday to $60.05 a barrel. It is nearly half the price it was in June. On 23 November it was $80 a barrel. He also believes Saudi Arabia’s counterparts in the Organisation of Petro­leum Exporting Countries (Opec) will adopt a similar policy.  “As a policy for Opec, and I convinced Opec of this, even Mr al-Badri [Opec secretary general] is now convinced, it is not in the interest of Opec producers to cut their production, whatever the price is,” al-Naimi told the Middle East Economic Survey. Referring to countries outside Opec, he said: “If they want to cut production they are welcome. We are not going to cut, and certainly Saudi Arabia isn’t going to cut.” Opec resisted cutting back on production in its November meeting, where the cartel decided to keep its target output unchanged at 30m barrels per day. The oil minister’s comments may have buoyed global stock markets. The FTSE 100 gained 0.48 per cent while in the US the Dow Jones Industrial Average climbed 0.87 per cent to reach 17,959.44. The end of year Santa rally may take the Dow nearer the 18,000 mark which it has yet to surpass in its history.  Stocks on the continent also edged up, with the German Dax rising 0.81 per cent and the French Cac 40 gaining 0.3 per cent. Even stocks in Athens jumped by 0.63 per cent yes­ter­day ahead of a new round of presidential elections today.  Despite oil prices slipping slightly yesterday, the Russian rouble shot up by eight per cent against the dollar. It now takes 55 roubles to purchase one dollar, the lowest amount of roubles required for 10 days. Over the past three months, any decline in oil prices has been closely followed by a similarly sized drop in the rouble. The rouble rebound also came despite Russia’s former finance minister Alexei Kudrin issuing a stark warning on the economy. “We are entering or have already entered a full-blown economic crisis, and we’re going to feel it to the full next year,” Kudrin said. Some analysts have suggested that Opec is refusing to slow production so that it can keep its market share. “The Saudis seem to be continuing with their game plan to shock prices lower by sticking it to the market that they will put more oil out if they have more customers for whatever price they are comfortable in selling,” said John Kilduff, partner at New York energy hedge fund Again Capital. “It seems like an all-out strategy on their part to finish all the weak players in the market who can’t survive at sub-$60 or even sub-$50 oil.” Meanwhile, the most heavily indebted oil companies in the world were primarily based in Latin America, said Capital Economics. Brazil’s Petrobras and Mexico’s Pemex are singled out as having borrowed aggressively in recent years.  Saudi Arabia oil minister Ali al-Naimi: We won’t cut production to prop up prices More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.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.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comKansas coach fired for using N-word toward Black playerthegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com whatsapp whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeRecetas Get5 Common Cancer Signs to Pay Attention ToRecetas GetTheFashionBallPrince Harry Admits Meghan Markle May Not Be The OneTheFashionBallmylovelymalinoisEx-Police Dog Keeps Barking At The Tree, resulting in A Discovery Of Something Shocking | My Lovely MalinoismylovelymalinoisalldelishHere is what happens to your body when you start eating 2 eggs every dayalldelishHome TricksMake Your Towels Soft with This Genius TrickHome TricksHistory DailyExtraordinary Nature Photos That Haven’t Been EditedHistory DailyDid U KnowNew Dental Implant Prices Have Seniors Ditching Dentures For GoodDid U KnowZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldMoney CougarIf You Don’t Help Destroy These Moss Balls, The Consequences Will Be DisastrousMoney Cougarcenter_img Express KCS Show Comments ▼ Monday 22 December 2014 9:16 pm Tags: Oil priceslast_img read more

Tower Hamlets approves Canary Wharf’s plans for 3,600 homes

first_img Express KCS Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHero WarsThis game will keep you up all night!Hero WarsMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsUltimate Pet Nutrition Nutra Thrive SupplementIf Your Dog Eats Grass (Do This Every Day)Ultimate Pet Nutrition Nutra Thrive SupplementThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramFungus EliminatorIf You Have Toenail Fungus Try This TonightFungus EliminatorEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity Mirrorzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUltimate Pet NutritionIf Your Dog Eats Dry Food, Do This Every DayUltimate Pet Nutrition Monday 22 December 2014 8:58 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap Tags: NULL Show Comments ▼center_img whatsapp Tower Hamlets approves Canary Wharf’s plans for 3,600 homes whatsapp Canary Wharf Group was yesterday given the go-ahead to convert a 20-acre site next to its east London estate into more than 3,600 homes, shops and offices targeting the fast-growing media and technology sector.Tower Hamlets council has approved regeneration plans for the semi-derelict area, which was formerly known as Wood Wharf because it was used for the shipping and storage of timber. The decision comes after London mayor Boris Johnson gave the scheme his stamp of approval earlier this month. The development, which includes a 57-storey cylindrical luxury residential tower, will be Canary Wharf’s first move into residential development, with 25 per cent of earmarked as affordable housing. The scheme will also offer 1.9m square feet of new offices, which Canary Wharf hopes will attract more creative media and technology companies to reduce its reliance on the financial sector. “This 4.9m square feet next phase of development will reinforce Canary Wharf’s status as one of the most attractive new places to both live and work,” chief executive, Sir George Iacobescu CBE, said.  The first phase of development is expected to be finished in 2020.  last_img read more

Xiaomi: Everything you need to know about the world’s most valuable technology start-up and third-biggest smartphone maker

first_img Joe Hall Monday 5 January 2015 8:55 am whatsapp Show Comments ▼ Xiaomi: Everything you need to know about the world’s most valuable technology start-up and third-biggest smartphone maker Despite not having any products on sale in the UK, smartphone manufacturer Xiaomi can’t keep out of our business headlines. Just a week after being named the most valuable technology company in the world, the Chinese company has announced a mammoth increase in sales in 2014. Xiaomi is now said to be the third-biggest smartphone maker in the world behind established giants at Samsung and Apple, despite only releasing its first smartphone in 2011. In 2014, the Beijing-based startup said it sold 61.1m phones – a 227 per cent increase on the 18.7m sold the year before. Pre-tax sales also rose dramatically; increasing by 135 per cent to 74.3bn yuan (£7.8bn). Over $1bn was raised by Xiaomi in its latest round of funding, making it the world’s most valuable start-up with a valuation of $45m. According to technology market intelligence and advisory firm IDC, Xiaomi moved ahead of rivals Lenovo, Huawei and LG in 2014 to become China’s biggest, and the world’s third-biggest, smartphone maker, with 5.2 per cent market share. Smartphone vendor market share (Q3 2014) |Create infographics Xiaomi’s market share may not look or sound like much to concern Samsung or Apple right now, but its rapid growth has coincided with their diminishing slice of the pie, and shows no sign of slowing down. Here’s everything you need to know about the emerging major player on the global smartphone market.Small prices, big marketsWhile Samsung and Apple both have a hold in mature smartphone markets now saturated with products, companies like Xiaomi have built products that capture the needs and demands of emerging markets in Asia, Eastern Europe and Africa. In October technology advisory and research firm Gartner reported emerging markets were exhibiting their highest growth in history. Chinese companies such as Xiaomi, Huawei and Lenovo have established themselves in their home country, which has a population of 1.36bn, in a way other global players haven’t been able to. With off-contract prices as low as $100, they offer smartphones at a lower cost than the high-end products available from Apple or Samsung, the latter of which saw third quarter sales in China drop 28.6 per cent according to Gartner.  Roberta Cozza, Gartner’s research director, commented on the October report:  With the ability to undercut cost and offer top specs Chinese brands are well positioned to expand in the premium phone market too and address the needs of upgrade users that aspire to premium phones, but cannot afford Apple or Samsung high-end products. Melissa Chau, senior research manager at IDC, echoed the idea in July:  …it is the Chinese vendors that are ready to usher emerging market consumers into smartphones. The offer of smartphones at a much better value than the top global players but with a stronger build quality and larger scale than local competitors gives these vendors a precarious competitive advantage. However, Xiaomi’s business model differs to that of its competitors. The company manages to offer such low prices only a fraction above a phone’s assembly costs (and at least 60 per cent lower than Apple’s according to the Harvard Business Review) by keeping the model on the shelves for two years at a time at a fixed price. As production costs fall, the price stays the same and Xiaomi profits from the difference. What’s next?With the giants of the industry on the back foot, rocketing sales and a record valuation, Xiaomi now plans to “go global” according to a blog post from founder Lei Jun. Lei wrote: We have successfully entered seven markets outside mainland China. In India, we sold over 1m smartphones in less than five months. This year, we will enter even more overseas markets. We believe everyone in the world would appreciate the opportunity to enjoy technology innovation. Thus we remain fully committed to our global business. However, a move into the western world is unlikely in 2015. In the short-term, a new phone, the Redmi 2, is due to go on sale this week for a price of 699 yuan ($112.38). Share More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.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.comKiller 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.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com whatsapp Tags: Startupslast_img read more

General Election 2015: Brits would trust a fictional dog more than political leaders

first_imgThursday 5 March 2015 4:25 am Tags: General Election 2015 Show Comments ▼ Forget David Cameron versus Ed Miliband, there’s a new candidate in town leading the polls in the popularity stakes.In what can only be described as a damning indictment of politics today, Britons think a dog is more trustworthy than any of the current candidates who could potentially become Prime Minister in May. Nearly three-quarters of the public would trust man’s best friend to run the country over Cameron, Nick Clegg, Miliband or Nigel Farage. In this dog eat dog world, the online survey of 1,000 Brits by TNS and Pickup biscuits, found fictional dogs Lassie and Gromit were more trusted than any other leader – by a very long margin.The two characters were voted most trustworthy by 35 per cent, while just 14 per cent chose Cameron and less than 10 per cent went for any other leader.Perhaps its Lassie’s ability to eat a bacon sandwich more elegantly than party leaders, or her willingness to appear in parliamentary debates? She would also be good at rescuing policies that have been kicked into the long grass/down wells.Gromit was also a favourite (insert Miliband joke here), presumably gaining big backing from the British cheese and sheep farming industries. Of course, Gromit also recognises the importance of tech innovation for economic growth.They’re not the only fictional characters entering the political arena either.Another poll reveals the cartoon characters people most associate with each party leader. David Cameron becomes Dick Dastardly from Wacky Races, Ed Miliband becomes Mr Bean and Nick Clegg is Fred from Scooby Doo…. which works out well. whatsapp center_img Share General Election 2015: Brits would trust a fictional dog more than political leaders whatsapp Lynsey Barber last_img read more

Non-dom crackdown: What impact will taxing the global rich have on the UK?

first_imgWednesday 8 April 2015 9:34 pm Non-dom crackdown: What impact will taxing the global rich have on the UK? Show Comments ▼ Express KCS Share whatsapp whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekComedyAbandoned Submarines Floating Around the WorldComedyForbesThese 10 Colleges Have Produced The Most Billionaire AlumniForbesNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent Express Tight finances and pressure to break the deadlock in the elect­ion campaign combined yester­day in a very focused new round of tax – on the foreign earnings of over 5,000 rich British residents.Labour first introduced a levy on long-term non-domiciled residents back in 2008, and the coalition has hiked it since. In December, chancellor George Osborne announced another increase. But Ed Miliband took it further yesterday, pledging to make all UK residents pay tax on worldwide income once they have been in the country for more than three years. The Labour leader argues that it should raise hundreds of millions of pounds, and make the system fairer. But it might not be that straightforward, as the targets are highly mobile. WHAT IS A NON-DOM?Most Britons with overseas earnings pay tax in the country where it is earned, and in the UK. Then they may get a rebate to make sure they pay up a maximum of the applicable UK rate. Under a complex set of rules, those with ties to a foreign country can register as a non-domiciled resident. That means they only pay the foreign tax, as long as the money stays overseas. Once a non-dom has been here for seven years of the past 10, a £30,000 annual charge is applied. This rises to £50,000 after 12 years, and will soon hit £90,000 for those who have been resident in the UK for 17 of the last 20 years, of £90,000 per year. HOW MUCH TAX DO THEY PAY NOW?The rich do pay a large share of tax in Britain. The top one per cent of earners pay roughly 28 per cent of all income tax, and the top 10 per cent pay more than 58 per cent of the total. And non-doms paid £6.18bn in 2012-12, plus another £223m in the levy, according to lawyers at Pinsent Masons. On top of that, there will be taxes on capital gains and on property transactions.Nonetheless, extra charges fit the political consensus that the rich should pay more. If the non-dom crack down does deter immigration by the global rich, then it could even cost the Treasury moneyHOW DID WE GET HERE?Income tax has existed for around 200 years, and the non-domiciled exemptions in their current form were brought in around 100 years ago. According to tax lawyers Baker Tilly, the idea was to make sure “new money” earned by businessmen overseas was taxed in the same way as “old money” of British landowners. Brits with overseas earnings were suddenly subjected to the same taxes as those who earned money at home, and the non-dom bit was brought in to give exemptions to those who lived in the UK but had real foreign family links. “How different the social and economic context is now! The UK landed gentry are no longer the world’s wealthiest and fewer ‘poor men’ of the UK make their fortunes overseas,” said Baker Tilly’s George Bull. “As the pendulum of tax fairness has swung so far away from its position in 1914, it’s sensible to reassess the place of domicile within a 21st-century tax regime.” WILL THEY ALL JUST LEAVE BRITAIN?Some will – but probably only a small proportion. Thousands of non-doms left when the levy was introduced and again when it was increased. The Office for Budget Responsibility’s attempts to forecast the impact of the coming levy increase plan for some of them to exit the UK. However, most of the more than 100,000 now registered as non-doms are only here for a few years, and Labour wants to keep this system, with a potential limit of three years. Around 5,000 pay the levy, which only kicks in after seven years in the UK. Those who have been here for that long are likely to have deep ties with Britain. While it may make the UK look like a less stable place to work, it is unlikely to drive all of those people away. A bigger impact may be that fewer will move to the UK in the future. If London wants to position itself as the world business and finance capital, it has to keep attracting global high-fliers. “This country has benefited enormously from attracting some of the most successful businesses and entrepreneurs in the world, with the previous Labour government recognising the benefits of an internationally competitive tax system,” said Simon Walker from the Institute of Directors. “While there may be little public sympathy for those who stand to be affected by reforms to non-dom status, the truth is that these things matter. There is a serious risk that large numbers of the international financial community, who have headquartered themselves in London at least in part because of our tax regime, will now exit the country.” Beneficiaries could include Zurich and Gibraltar, while cities like Frankfurt and Paris may lose fewer wealthy citizens to London over the long term. HOW MUCH MONEY WILL IT RAISE?Possibly nothing. If it does deter immigration by the global rich, then it could even cost the Treasury money. Labour hopes it will raise hundreds of millions of pounds but it all depends on how the non-doms react. Given they are internationally mobile, they may drain out of the UK shortly after. “Non-doms bring entrepreneurial drive and choose to base their businesses in the UK, which lead to generating tax receipts from VAT and corporate tax, and income tax and National Insurance by employing individuals,” said Blick Rothenberg’s Nimesh Shah.  “The next government… could be unknowingly faced with a severe dent to the UK’s economy,” said Shar.  Tags: NULLlast_img read more

Strong results provide Wall Street a boost – New York Report

first_img Strong results provide Wall Street a boost – New York Report Express KCS by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent Express whatsapp US STOCKS were buoyed yesterday, aided by the energy sector and March quarterly earnings reports topping modest expectations following worries about a strong dollar.The Dow Jones industrial average rose 59.66 points, or 0.33 per cent, to close at 18,036.7. The S&P 500 gained 3.41 points, or 0.16 per cent, to 2,095.84 and the Nasdaq Composite dropped 10.96 points, or 0.22 per cent, to 4,977.29, with Apple down 0.43 per cent.Shares of Exxon Mobil, Chevron and other energy companies followed crude higher after a forecast that US shale oil output in May would record its first monthly decline in more than four years. The S&P 500 energy index jumped 1.77 per cent.Norfolk Southern dropped 4.18 per cent to $100.49 a day after it forecast a surprise drop in its first-quarter earnings and revenue.A strong dollar, cheap oil and poor weather in the eastern US in recent months have investors bracing for a difficult March quarterly earnings season.First-quarter profits for S&P 500 companies are seen falling 2.9 per cent, according to Thomson Reuters data. In January, analysts had been looking for growth of 5.3 per cent.Those lowered expectations mean that companies can now more easily impress investors, said Art Hogan, of Wunderlich Securities in New York.“This may be one of most hated earnings seasons I remember. We’ve taken those three negative headwinds and ploughed them as far as we can into the worst-case scenario,” Hogan said. Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat is ‘Ranked-Choice Voting,’ the New System for New York’s MayoralFamily Proofcenter_img Share whatsapp Show Comments ▼ Tuesday 14 April 2015 8:28 pm Tags: NULLlast_img read more

London Fashion Week ditches Somerset House for Soho

first_imgMonday 27 April 2015 9:00 am London Fashion Week is leaving its home at Somerset Home to take up a new venue in Soho.  The 62nd edition of the biannual fashion show will take place in September at Brewer Street Car Park, across two floors. It will host more than 100 designers exhibiting their latest collections to buyers from the UK and around the world, as well as press and bloggers.  The new location was praised by the British Fashion Council as “providing an epicentre for a city-wide fashion celebration with close proximity to major retail spaces”. Although it sounds like – well – a car park, the venue is in fact an iconic art deco building, designed by architect JJ Joass, which is already being used to host a number of events including art exhibitions and music installations.  Brewer Street Car Park (Source: BFC)In February the space was used by the BFC and British Council as part of LFW’s International Fashion Showcase.  LFW has been at Somerset House since 2009, and the BFC’s offices will remain at the iconic buiding on the Strand.  BFC chief executive Caroline Rush said: “The long term growth of the UK’s designer fashion market is reflected geographically in this move that will see London Fashion Week designers showcasing collections in one of London’s most vibrant, diverse and creative hubs set within a mile of Bond Street, Dover Street, Mount Street, Oxford Street and Regent Street.  “The new and exciting venue has already been dubbed as Brewer Street’s ‘Fashion Park’ and will offer freedom and flexibility to designers who will be able to transform the show space to reflect their own aesthetics and identity.” Munira Mirza, deputy mayor for education and culture, added: “Brewer Street Car Park as the host venue is a brilliant development for London Fashion Week.  “With its position in Soho, it is at the heart of an area that has long been associated with fashion and creativity in general. I am sure the move will literally drive even more interest in one of the most important sectors for our economy.” London Fashion Week takes place from 18 – 22 September. The provisional schedule will be announced in July.  Show Comments ▼ Catherine Neilan London Fashion Week ditches Somerset House for Soho Share whatsapp Tags: NULL More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com whatsapplast_img read more