JD Sports in World Cup profit surge

first_imgTuesday 21 September 2010 2:49 am JD Sports in World Cup profit surge Show Comments ▼ “The result for the full year remains very dependent on the sales and margin performance in December and January,” the firm said in a statement.Group revenue increased 18.5 per cent to £383.9m.Sales at UK and Ireland stores open over a year rose 2.8 per cent over the half and were up 2.7 per cent for the four weeks to 28 August.The firm, which ended the period with net cash of 34.5 million pounds, is paying an interim dividend of 3.8 pence, up 15.2 percent. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Share JD Sports Fashion posted a 36.5 per cent rise in first-half profit, boosted by the World Cup, and said trading in the second half had got off to a solid start. The clothing and footwear group, which trades as JD Sports, Chausport, Size, Bank and Scotts from over 530 stores, made an underlying pretax profit of £19.4m in the six months to 31 July, up from £14.2m in the same period last year. 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 whatsapp John Dunne Tags: NULLlast_img read more

SocGen says it won’t ask Kerviel for €4.9bn fine

first_imgThursday 7 October 2010 9:46 pm Share KCS-content Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Show Comments ▼ SOCIETE Générale has distanced itself from the record €4.9bn (£4.3bn) fine slapped on rogue trader-turned-national-hero Jerome Kerviel after an astonishing backlash in France.Kerviel was jailed for five years, with two suspended, for several offences including forgery. But the astronomical fine has caused indignation in his home country, solidifying sentiments that he was used as a scapegoat for the banking crisis and prompting SocGen to condemn the fine. A spokesman told a radio station: “It is out of the question to claim such a sum from one man… Do we intend to indebt Kerviel for 177,000 years, as I’ve seen written? The answer is no. We are a responsible bank.”Kerviel was free on bail last night, awaiting an appeal against the sentence. center_img Tags: NULL whatsapp SocGen says it won’t ask Kerviel for €4.9bn fine by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comBob's Hideout30 Years She Used Makeup To Hide Her True IdentityBob’s HideoutElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldFamilyMindedThe Most Common Astrology Questions People AskFamilyMindedOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent Express whatsapplast_img read more

We’ve had the cuts – now it’s time for growth

first_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald KCS-content So we’ve had the cuts, now it’s time for the growth. That’s the message at today’s annual CBI conference and it’s the right one. George Osborne may have hinted at some pact with the Bank of England whereby more QE offsets the government’s austerity drive, but what we really need is a supply side transformation. Specifically, targeted tax policy encouraging business of all shapes and sizes to invest and individuals and funds to invest in business. In a CBI survey of reasons for companies not to invest in the UK, tax comes pretty much at the top and this is despite the coalition government’s pledge to reduce headline corporation tax. Other areas that need attention are capital allowances, intangibles like intellectual property, the treatment of R&D and especially the tax on profits of foreign holdings. And although the CBI doesn’t comment on personal tax policy, it’s about as close as I’ve seen them come to criticising the 50 per cent top rate of income tax. In the words of one survey respondent, “It’s impossible to attract staff to the UK”. That’s because of current personal tax rates on income, capital gains and changes in pension rules. And if you can’t attract staff you’re not going to invest here.Not that I expect changes to personal tax, but we do need to encourage business investment with targeted fiscal policy. Investment-led growth is the only way we’re going to generate the higher tax receipts needed to pay down our debt but I fear the government will hope for more expansionist monetary policy instead. As far as the effectiveness and need for more QE is concerned I remain deeply unconvinced. Tomorrow the first estimate of growth for the third quarter should show a rise of 0.4 per cent from the second. That’s hardly a number to cause panic, but plenty at the Bank of England believe things could look very different in two years time and that’s a reason to act soon. It’s this two-year time frame that former Deputy Bank of England Governor Sir John Gieve tells me could be used to explain more QE even if CPI inflation is still in letter writing territory at 3.1 per cent. Central to the view that inflation will eventually come down is the “output gap”. But as both Sir John and another former MPC member Kate Barker say, measuring this with a degree of accuracy is very difficult. In fact it’s so difficult, I believe it folly to focus too much on this whilst not giving enough attention to the impact of global inflation on British domestic prices. On its own inflation mandate it’s hard to see how the bank could justify more QE, let alone justify it as a tool to stimulate growth.I’ve yet to hear why reflating assets through more QE leads to a chief executive hiring more people in this country. On the other hand some targeted tax policies, combined with liberalisation on things like regulation, might just do the trick. Ross Westgate co-hosts Worldwide Exchange daily on CNBC and also anchors Strictly Money — www.cnbc.com Share whatsappcenter_img Show Comments ▼ Tags: NULL Sunday 24 October 2010 10:18 pm We’ve had the cuts – now it’s time for growth More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comlast_img read more

Heineken sales slump as downturn hits drinkers

first_img KCS-content whatsapp Share Wednesday 27 October 2010 8:22 pm 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 ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDiscovery23+ Sports Stadiums Around the World That Are Abandoned NowDiscoveryMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsappcenter_img HEINEKEN yesterday reported third-quarter sales at the bottom of expectations, as poor summer weather, austerity measures, and low consumer confidence hit European and US drinking.The Dutch brewer – whose main brands are Heineken and Amstel – said volumes rose sharply in Africa, Asia and Latin America but were lower overall on a like-for-like basis because of weakness in mature markets.Like-for-like sales fell 2.2 per cent. overall. Revenue rose 13 per cent to €4.619bn (£3.9bn). Net profit rose 10 per cent, on a like-for-like basis, to €520m. For the full-year, Heineken repeated its forecast that net profit would grow by at least a low double-digit percentage. “In the UK we were hurt by England dropping out of the World Cup so quickly,” said chief financial officer Rene Hooft Graafland. Heineken sales slump as downturn hits drinkers 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Show Comments ▼ Tags: NULLlast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_img Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap RufferThe investment management house has appointed Sir David Clementi, pictured, and Robin Hindle Fisher as non-executive directors.Clementi, a former Bank of England deputy governor and chairman of Prudential, will be Ruffer’s new deputy chairman. He is also currently chairman of King’s Cross Central.Fisher has spent over 25 years in institutional fund management and was formerly chief executive of Phillips & Drew Fund Management.Freshfields Bruckhaus DeringerThe law firm has appointed London-based disputes partner Andrew Hart as joint sector group leader of its global financial institutions group.Hart, who succeeds recently-elected senior partner Will Lawes in the role, has worked for Freshfield since 1996 and has been a partner for 13 years. He previously headed up the financial institutions disputes group and helped set up the US contentious regulatory and litigation practice.DeloitteThe business advisory firm has hired two new senior members to its tax management consulting group.Fiona Jones joins as an associate partner from BP, where she formerly led the oil giant’s global tax technology network. Josef Macdonald moves over as a director from Ernst & Young, where he was the firm’s global extensible business reporting language leader.Vedanta ResourcesThe metals and mining giant has appointed Antony Henshaw as chief sustainability officer.Henshaw was previously corporate vice president of sustainability at cement maker Cemex in South Africa.GenesisThe housing group has appointed a new non-executive chairman in the form of Charles Gurassa, currently also chairman of Phones 4 U and Lovefilm.Gurassa is a well-known figure in the business world, having also previously held roles as chairman of Virgin Mobile, which he steered through its 2004 flotation, and chief executive of the Thomson travel group.DunedinDavid Williams has joined the mid-market private equity house as a director n the London office, responsible for sourcing and executing new investments for its £250m buyout fund.Williams was previously a senior partner at Graphite Capital between 2005 and 2010, and managing director of Sand Aire Private Equity between 1997 and 2005. Tags: NULL KCS-content Share CITY MOVES | WHO’S SWITCHING JOBS center_img whatsapp Sunday 7 November 2010 8:23 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesCrawl Space RepairFoundation Repair Cost In Scottsdale May Surprise YouCrawl Space RepairHappy-Tricks.comDon’t let looks deceive you this boy isn’t a real toddlerHappy-Tricks.comMartha Stewart CBDShop Martha Stewart’s CBD Products NowMartha Stewart CBDDailyforestActresses Who Look Really Different From Their On-Screen CharactersDailyforestEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorYourdailylamaAt 106, She Is Probably The World’s Oldest Living StarYourdailylama whatsapplast_img read more

Halfords bids to drive up sales in tough climate

first_img Show Comments ▼ whatsapp Tags: NULL Sunday 14 November 2010 10:41 pm Halfords bids to drive up sales in tough climate KCS-content center_img TWO of the UK high street’s most traditional names, Halfords and Mothercare, report results this week with the City using them as a barometer for the consumer climate.The companies have been trying to navigate choppy economic waters as government budget cuts and a looming VAT hike take their toll on cash-strapped shoppers. Halfords has seen sales of Satnavs fall while its car maintenance arm, Autocentres, has been trading below expectations. Management has forecast profit in the range of £67m to £69m for the half year – a rise of 11 per cent compared with the same period last year. Keith Bowman, an analyst at Hargreaves Lansdown said: “Group financing arrangements and the company’s to date progressive dividend policy may prove features. Prior to the results, market consensus opinion currently denotes a strong hold.” Meanwhile baby and children’s retailer Mothercare will report its half-year result on Wednesday. The group’s international sales were outstripping those in the UK, with further expansion in India in the company’s sights. The results come in a week where the British Retail Consortium will issue sales volumes figures, which are forecast to have risen by a slender 0.3 per cent in October. More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.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.org by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndo whatsapp Sharelast_img read more

Labour splits over 50p tax

first_imgSunday 14 November 2010 11:30 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterGloriousaCouple Wins Lottery, 5 Years Later, Their House Had To Be DemolishedGloriousa Tags: NULL whatsapp Share KCS-content center_img whatsapp Show Comments ▼ Labour splits over 50p tax More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comPuffer fish snaps a selfie with lucky divernypost.com ALAN Johnson, the shadow chancellor, yesterday said the 50p rate should be a temporary feature of the tax system – putting him at odds with his party leader.During his leadership campaign, recently installed Labour leader Ed Miliband said the 50p top rate would be made permanent if he became Prime Minister. Miliband also threw his weight behind a graduate tax, and has made much of the Liberal Democrat party’s decision to drop its opposition to university tuition fees.But yesterday Johnson – one of the last remaining big hitters from the centrist Blairite wing of the party – said there was a very “big difference” between himself and Miliband on these key issues.Johnson said the 50p rate should stay in force only as long as the country was suffering from the after-shocks of the financial crisis. Asked if he was contradicting Miliband, he said: “You have to separate out what’s going on in a leadership contest, where people say all kinds of things… and where we stand now.”Deputy chairman of the Conservatives Michael Fallon said: “It’s an extraordinary admission that senior Labour leaders still can’t agree on central issues. There’s still no Plan A.” last_img read more

UK to pay €7.9bn for €85bn Ireland rescue

first_imgSunday 28 November 2010 9:27 pm whatsapp THE bailout of Ireland will cost the UK a total of €7.9bn (£6.37bn) after the beleaguered nation agreed an €85bn rescue package yesterday.George Osborne agreed to stump up a bilateral loan of €3.8bn on top of the UK’s committment to the International Monetary Fund (IMF) and the European Financial Stability Mechanism (EFSM).The UK will pay 4.5 per cent of the €22.5bn IMF contribution, totalling just over €1bn and 13.8 per cent of the EFSM, coming to €3.1bn.Altogether Ireland will accept €67.5bn of external support. It will also raid its own reserves to the tune of €17.5bn. Of this, it will take €12.5bn from its state pension fund, with the remaining €5bn coming from cash reserves.Ireland will make €10bn immediately available to recapitalise its stricken banks, with a further €25bn being set aside in a euro contingency fund to be allocated if they require more money in the future. The remaining €50bn will go towards general running of the country, including paying the civil service.Interest payments on the loans will account for a staggering 20 per cent of Ireland’s tax revenue by 2014.The average rate of interest on the loan will be a relatively large 5.8 per cent. However, reflecting the increasingly hardline approach Germany has been lobbying for, the Eurozone portion of the loan will come with a punative six per cent rate of interest.The IMF portion of the loan will come with a three per cent rate of interest, rising to four per cent in 2013. The average duration of the loans is seven years.The deal was thrashed out during a crunch meeting of European finance ministers in Brussels yesterday.Ireland will be bracing for an anti-European backlash when news of the punative interest rate hits home.Anger in the country is already boiling over into sporadic bursts of violence and masked protestors yesterday burned pictures of Cowen on the streets of Dublin.A defeated looking Prime Minister Brian Cowen welcomed the deal yesterday. He said: “This agreement is necessary for our country and our people. The final agreed programme represents the best available deal for Ireland.“The significant loans being provided to Ireland are necessary to allow us to fund our budgets over the coming years.”Cowen added the loans will provide money Ireland had already planned to borrow on the international markets and that the rate of interest was comparatively low. 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}MoneyPailPeople 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 TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Sharecenter_img UK to pay €7.9bn for €85bn Ireland rescue whatsapp KCS-content Show Comments ▼ Tags: NULLlast_img read more

JPMorgan to hire 100 corporate bankers

first_img Friday 10 December 2010 2:29 am whatsapp JPMorgan Chase & Co is hiring 100 corporate bankers outside the United States, in a bet that loan demand in the rest of the world will grow faster than in the bank’s home base.The bank is planning to add to the 200 international bankers it already has over the next two years, with the aim of selling more JPMorgan products to the biggest 3,000 companies worldwide.“We have a pretty aggressive plan to expand in 2011,” Greg Guyett, chief executive of the global corporate bank, told Reuters in a recent interview in London.Guyett was named late last year to head the global corporate bank, which is a joint venture between JPMorgan’s investment bank and its treasury and securities services unit, which processes payments.“We’re trying to do more things with the same clients – that’s job No. 1,” Guyett said.While JPMorgan has always had a global investment banking business, historically it has not been a big lender outside of the United States, unlike other large commercial banks such as Citigroup and HSBC.Now it is ramping up that business, and also hoping to sell clients products like trade finance and basic deposit accounts around the globe.Selling more products to customers, an idea known as “cross-selling” in the industry, has become a popular buzzword for U.S. banks seeking to show they can increase revenue even as expectations for U.S. economic growth remain low.JPMorgan is not alone is looking to developing markets to bolster revenues – Citigroup has also said it is focussed on expanding its already substantial business outside of the United States.Latin America will be one area the global corporate bank focuses on in 2011, Guyett said, noting that other areas where JPMorgan is expanding include India, China and Southeast Asia.To support the global corporate bank, the treasury and securities services business rolled out new branches in countries such as Saudi Arabia this year, and it opened a slew of branches in the Nordic countries two years ago.“These are areas where our clients are growing and where our clients want us to grow,” said Claudia Slacik, chief executive of treasury and securities services in Europe, Middle East and Africa.JPMorgan’s large investment bank is then able to offer a wide range of products to clients in these countries, via the network of corporate bankers, explained Daniel Pinto, co-chair of the investment bank in Europe, the Middle East and Africa. Share JPMorgan to hire 100 corporate bankers John Dunne whatsapp More From Our Partners A 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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tags: NULL Show Comments ▼last_img read more

MAN OF THE MOMENT

first_img whatsapp KCS-content Tags: NULL Mark Zuckerberg, 26, the billionaire co-founder of Facebook, was yesterday named Time magazine’s 2010 person of the year. He beat WikiLeaks editor-in-chief Julian Assange, the 33 rescued Chilean miners and the US Tea Party movement to the honour. The award is given to the person judged to have most influenced the culture over the last year. Federal Reserve chairman Ben Bernanke won the prize in 2009. Show Comments ▼ whatsappcenter_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Share Wednesday 15 December 2010 8:11 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan 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 NowHealthyGem MAN OF THE MOMENT last_img read more