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US new home sales slump

first_img FEARS of a double-dip in the US housing market intensified yesterday after data showed that new home sales fell at the sharpest monthly pace in July since records began. Sales of new homes plummeted 12.4 per cent to an annual rate of 276,000 – the lowest since the data was first recorded in 1963 and well below the market’s expectations of a rate of 330,000 homes. The Commerce Department also revised down June’s annual sales pace to 315,000 units. New home sales have struggled to pick up over the past few months and the annual pace is only a quarter of what was seen in the boom years of the early 2000s.New York-based Steven Ricchiuto at Mizuho Securities said: “It is a bad report through and through, there is nothing in the details to tell you that things are improving whatsoever. The odds of the dreaded double-dip are increasing.”The downbeat data initially weighed on US equities but buying activity capped losses.Analysts expect the pace of new home sales to remain depressed for some months to come and predicted possible years of excess supply. ING’s Teunis Brosens said: “Sales may recover slightly in the coming months, as the demand fallout following the expiry of the homebuyer tax credit fades. But we expect them to remain low.”“Homebuilders continue to face tough competition from distressed sales. These typically sell at a discount and currently make up about 30 per cent of total sales. Moreover, while the building spree peaked in 2006, the housing market is still burdened with substantial excess supply. It may take several years to clear this excess,” he warned. whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Show Comments ▼ whatsapp US new home sales slump Wednesday 25 August 2010 8:41 pm Share KCS-content Tags: NULLlast_img read more

FSA?doles out more fines in Lehman saga

first_imgWednesday 22 September 2010 8:00 pm THE FINANCIAL Services Authority (FSA) has imposed three more fines relating to Lehman Brothers-backed mortgage products, the watchdog said yesterday. Legal outfit Thorntons Law was fined £35,000 for misleading customers about the risks of mortgage-backed securities. Michael Royden, a partner at the Dundee-based firm, was separately fined £10,500. The FSA said the company had told clients there was “absolutely no risk to capital” and recommended they pour a large amount of money into mortgage-backed products. Royden was responsible for compliance at Thorntons, despite having no financial services experience. The FSA said he failed to read up on the Lehman-backed products, and delegated day-to-day compliance work to another junior member of staff. The FSA also handed down a £28,000 fine to Robert Yarr, a financial adviser at a financial advice firm, McClelland Yarr in Belfast. Yarr did not understand or research the Lehman products and failed to keep records of his work, the FSA said. All three parties fully complied with the FSA probe into their actions between November 2007 and August 2008, and received a 30 per cent discount for settling at an early stage. The FSA has already fined several firms and individuals for giving misleading investment advice, following its review into the marketing and distribution of Lehman-backed products in October 2009. The watchdog fined RSM Tenon Financial Services £700,000 in March for failings in its advice and sales processes relating to Lehman-backed structured products.Tenon was also directed to compensate customers who were mis-sold those products, estimated to total around £1.8m. The FSA has estimated that 6,000 investors were caught up in Lehman-backed products when the bank folded in 2008. whatsapp FSA?doles out more fines in Lehman saga KCS-content whatsapp Show Comments ▼ Share More From Our Partners Why people are finding dryer sheets in their mailboxesnypost.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Tags: NULLlast_img read more

Toyota set to unveil two new Prius models by 2012

first_imgThursday 7 October 2010 7:30 pm Toyota set to unveil two new Prius models by 2012 Show Comments ▼ TOYOTA plans to sell two new versions of its Prius hybrid in the US by the end of 2012, unveiling both an expanded and a more compact version yesterday.The expanded version will have 50 per cent more interior space than the current model, while the compact will be about the same size as Japanese auto maker’s Yaris model, according to reports from two unidentified US automotive dealers attending a Toyota conference in Las Vegas.Toyota recently pledged to release six new hybrid models in the next two years.Meanwhile, Toyota’s president of US operations Yoshi Inaba yesterday called upon US dealers to boost annual sales to two million vehicles by 2013.The challenge, delivered at the Las Vegas convention yesterday, would amount to a 30 per cent increase in annual sales from current levels. Tags: NULL Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp whatsapp 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 KCS-content last_img read more

Government wields axe on nearly 200 quangos and plans to merge many others

first_img Show Comments ▼ Government wields axe on nearly 200 quangos and plans to merge many others KCS-content ALMOST 200 quangos face the axe as part of government proposals to save millions of pounds while a further 481 face reform, the Cabinet office revealed yesterday.The closures will lead to thousands of job losses and are likely to create a substantial redundancy bill for the government, although it claimed yesterday in the long run more money would be saved than the redundancies would cost.Cabinet office minister Francis Maude said the government would introduce a Public Bodies bill next month that would see 192 quangos cease to exist with their functions brought back into government. A further 118 public bodies are to be merged down to 57 while 171 face “substantial reform.” The total will be cut from 901 to 648, with the future of 40 bodies still under consideration. The government refused to put a figure on the estimated job losses or potential savings that closing the quangos would result in. Many of the casualties were already expected. Among them were the Office of Fair Trading (OFT) and the Competition Commission, which the government intends to merge into a single competition and market authority early next year. Regional development agencies will also be scrapped with the work they do transferred to local government. Meanwhile, Ofcom is to take over the responsibilities of the Post Office regulator Postcomm, and the Gambling Commission and National Lottery Commission are to be merged. And the Olympic Park Legacy Company, responsible for developing the Olympic site after the 2012 games is to see its powers transferred to the Mayor of London. Maude said: “In many cases, today’s proposals will ensure we preserve the quality of vital services, while allowing them to become more efficient and giving more power to the front line professionals who know those services best.”He added that in recent years there had “been a great tendency for the government just to set up new bodies, so-called arm’s length bodies, often just to avoid ministers having to make difficult decisions and defend them.” Liam Byrne Labour shadow cabinet office spokesman, attacked the proposals saying the cost of closing the quangos would be greater than the savings made. whatsapp Thursday 14 October 2010 9:34 pm Sharecenter_img 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 StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.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.orgConnecticut man dies after crashing Harley into live bearnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.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.com Tags: NULLlast_img read more

MPC poised to hold rates at 0.5 per cent

first_img Show Comments ▼ MPC poised to hold rates at 0.5 per cent Share More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Wednesday 8 December 2010 7:34 pm Tags: NULL whatsappcenter_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm INTEREST rates are expected to stay at 0.5 per cent today, after the Bank of England’s rate setting committee meet for the final time this year.A split has emerged in the Monetary Policy Committee (MPC) in recent months, with “hawk” Andrew Sentance pushing the case for a rate rise and “dove” Adam Posen arguing for a further bout of quantitative easing (QE2).But seven of the nine voting members remain on the fence, opting against a move in either direction. “The difficulty is the unprecedented nature of the situation since the credit crunch,” said Peter Spencer of the Ernst and Young ITEM Club.After a normal recession inflation should have dropped, he said.Bank governor Mervyn King has been forced to write several letters to chancellor George Osborne to explain why inflation remains well above the two per cent target.King has argued that the MPC is concerned about medium term inflation, not short term effects.The committee is “ready to adjust policy in either direction,” he said.Since the MPC’s November announcement, the Office for Budget Responsibility (OBR) released its economic and fiscal outlook.The OBR slightly lowered the projected growth rate for the next two years, but remains optimistic about GDP increasing by over two per cent per annum.And employment will increase, according to the OBR. “Private sector job creation more than offsets falling public sector employment – just as it did during the 1990s,” the report stated.The MPC’s statement today will be followed next week by the Bank’s quarterly bulletin-CITY A.M. | SHADOW MPCALLISTER HEATH | CITY A.M“The economy is continuing to grow, led by manufacturing in particular. There is much less spare capacity than people realise, one reason why inflation is too high for comfort. We need a small hike in rates now to send a strong message to the markets.”SIMON WARD | HENDERSON“Raise by 0.5 per cent. Policy is much too loose, as evidenced by nominal domestic demand growth of 7.1 per cent in the year to the third quarter, the highest since 1998. Consumer inflation expectations have surged, threatening stronger wage pressures in 2011.”GEORGE BUCKLEY | DEUTSCHE BANK“The economic news has been consistent with keeping policy on hold for the time being, ruling out rate increases or further QE. If the recovery continues the Bank could begin raising rates from mid 2011, however.”PHILIP SHAW | INVESTEC“Domestic economic news has been relatively encouraging over the past month, while inflation news has been disappointing. Further QE seems unjustified, at least at this stage, and rates should stay at 0.5 per cent.”VICKY REDWOOD | CAPITAL ECONOMICS“Given the tricky combination of a renewed rise in inflation and the looming fiscal squeeze, I’d leave policy unchanged – but with a bias towards more QE if the recovery disappoints in the following quarter.”TREVOR WILLIAMS | LLOYDS BANKING GROUP“UK growth has been healthy recently but with fiscal tightening and the VAT rise to come, plus the backdrop of weakening growth in Europe, the prospects for a sustained recovery are not yet secure enough to warrant a tightening of policy.”HOWARD ARCHER | IHS GLOBAL INSIGHT“No change. The economy is ending 2010 reasonably well and there currently seems little need for more QE. But I would not raise interest rates given the threats to growth coming from the fiscal squeeze and events in the Eurozone.”JAMIE DANNHAUSER | LOMBARD STREET RESEARCH“Output growth through the fourth quarter of the year appears to be robust, especially in manufacturing. If anything, inflation could surprise on the upside in the near-term. Leave monetary stance unchanged.”GRAEME LEACH | IOD“We don’t want or expect any pre Christmas surprise. Rates and QE need to remain on hold but we view the anaemic level of broad money growth with concern. Growth prospects will weaken in the first half of 2011, and more QE is very possible.” whatsapp last_img read more

Bank levy to raise £2.5bn for Treasury

first_img Bank levy to raise £2.5bn for Treasury whatsapp KCS-content Show Comments ▼ Thursday 9 December 2010 9:03 pm Sharecenter_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times THE government yesterday finalised legislation imposing a levy on banks that will raise £2.5bn for the treasury, with the tax to be charged at 0.05 per cent next year and 0.075 per cent in 2012 – although it could be adjusted depending on the tax receipts generated.The rates are higher than anticipated, with the draft bill in June putting the tax at 0.04 and 0.07 per cent. The Treasury claims that the tax is intended to “encourage banks to move to less risky funding profiles”, but chancellor George Osborne says the primary aim is to raise revenue: “I’m after £2.5bn and we’ve made it clear we are prepared to alter the rate to get that,” he said.It will apply to bank balance sheets after an allowance of £20bn and excludes many deposits and equity capital. RBS has estimated that the levy will cost it £315 next year and £473m in 2012, while it is understood that Barclays is making provisions for an impact of £380m.The tax will apply to 30 to 40 financial institutions, with some exemptions for those potentially facing a double levy due to a heavy presence in other jurisdictions considering a bank tax, such as Deutsche Bank.The announcement prompted concerns that by deciding to implement a levy alone, the UK could price itself out of the market for attracting financial services investment.CBI’s director for competitive markets Matthew Fell said: “To be truly effective and avoid undermining competitiveness, any new rules should be coordinated internationally or they risk harming economies. This is particularly true for the UK, given London’s role as a global financial centre.”British Bankers’ Association chief executive Angela Knight told City A.M.: “In many respects, the design has improved (since its first drafts). However, we still remain concerned about the effect of the bank levy on the international competitiveness of the UK.”Many banks have threatened to move operations and jobs abroad due to increasingly onerous regulation in the UK. More From Our Partners I 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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comConnecticut man dies after crashing Harley into live bearnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPuffer fish snaps a selfie with lucky divernypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapplast_img read more

Imagination Technologies to snap up 3D company Caustic

first_imgTuesday 14 December 2010 8:55 pm whatsapp KCS-content whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndo Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap IMAGINATION Technologies, the British firm behind video chips in Apple’s iPhone, will acquire 3D graphics group Caustic for £17m.Imagination chief executive Hossein Yassaie said: “We have a proven track record of disrupting markets by bringing new and high-end technologies to consumer and embedded products.“The acquisition will enable us to accelerate our plans to be the leading supplier of all forms of graphics technologies in all markets and to continue our mission of delivering the most advanced graphics technologies to mainstream markets.”Caustic chief executive Chip Stearns said: “Our vision is to enable cinema quality computer graphics at new cost and power consumption design points. We will utilise their extensive resources and partnerships to bring our technology to every consumer screen.” center_img Share Show Comments ▼ Imagination Technologies to snap up 3D company Caustic Tags: NULLlast_img read more

Job cuts rise as tightening begins to bite

first_img whatsapp Job cuts rise as tightening begins to bite Wednesday 15 December 2010 8:36 pm UNEMPLOYMENT rose in the three months to October as government job cuts took their toll, official data showed yesterday.Unemployment crept up to 7.9 per cent, the highest rate in six months, representing an increase of 35,000 people to 2.5m in total.The news came from the Office for National Statistics (ONS), which also announced that government sector employment was down 33,000 in the third quarter of the year.Employment in the private sector remained steady, totalling 23m, the same as the previous quarter.The figures are in line with forecasts made by the government’s fiscal watchdog, which expects 7.9 per cent unemployment for this year, with a slight rise to eight per cent next year.But unemployment is projected to fall from 2012 onwards, as “private sector job creation more than offsets falling public sector employment,” the Office for Budget Responsibility (OBR) said last month.Government employment could drop by 330,000 as part of the austerity measures. Yet there are still 6m government employees in the UK, according to the ONS data, including over half a million civil servants.Unemployment benefit claimants actually fell by 1,200 in November to 1.46m. And 56,700 fewer people claimed Jobseekers’ Allowance compared to the same time last year.And in London unemployment fell by 4,000 from August to October.The coalition is trying to boost the jobs market by cutting tax, simplifying regulations, and sealing international trade deals, employment minister Chris Grayling said.“We are increasing the support available to people,” he added.But opposition leader Ed Miliband said the coalition’s confidence in the economy would “seem very hollow” to people affected by unemployment. ANALYST VIEWS: WHAT CAN WE DO TO STOP UNEMPLOYMENT RISING? INTERVIEWS BY JULIAN HARRISMATTHEW SINCLAIR | TAXPAYERS’ ALLIANCE People on benefits have little incentive to work due to high, complex taxes. The minimum wage of £5.80 an hour can be worth as little as 26p. By adopting a more realistic poverty line, the government could save enough money to lower the marginal tax rate, and tackle long-term unemployment.SIMON KIRBY | NIESRI would limit fiscal consolidation until we have robust economic growth. Under the current plans, unemployment will hit 8.6 per cent next year. Long term unemployment leaves a big scar, and we must avoid ending up with NEET [not in employment, education or training] young people.DAVID KERN | BRITISH CHAMBERS OF COMMERCEGiven the expected fall in public sector employment, it is critical that businesses are able to create new jobs. The labour market needs to remain as flexible as possible. Onerous regulation must be scrapped or suspended so that the private sector can absorb the temporary public sector job losses. KCS-content Show Comments ▼ More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA 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.orgRussell 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.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.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com whatsapp Share Tags: NULLlast_img read more

Npower to sell power to the Grid

first_img Show Comments ▼ Npower to sell power to the Grid Wednesday 12 January 2011 8:48 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Energy company Npower plans to step in to support the National Grid during times of high energy demand by using its customers to help power the network. Around 50 industrial sites in the UK are already paid by the Grid to offer their stand-by generators for national use when the network is stressed, most recently during the snow in December, which led to record energy usage and put a strain on services. But Npower hopes to pay customers who have back-up generators to add up to 600 megawatts to the network, the equivalent of a medium-sized power station. “The National Grid is hoping to supply more energy from renewable sources like wind, which is unpredictable, especially in periods of high demand. The nature of the grid, especially as overall demand increases, makes it important for companies like us to step in,” Npower industrial and commercial market director David Cockshott told City A.M. The National Grid declined to comment yesterday. KCS-content center_img whatsapp Tags: NULL whatsapp Share More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comlast_img read more

Investors are getting picky

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Show Comments ▼ LET’S face it; for most of the rally off the 2009 lows, equity investors could have got a decent return from buying just about any mainstream index. It’s been pretty much one-way traffic and even the most inept of investors could be sitting pretty on a big double-digit return. But is the going about to get a lot tougher?To recap, the S&P is up circa 95 per cent from March 2009, the Euro Stoxx 50 is up 22 per cent ahead of its twelve month low and our very own FTSE 100 has gone up 16 per cent in the last 52 weeks. So far, so good – but the current earnings season may be proving that the time to be a little more stock specific could be upon us.This past week has seen a whole host of disappointments for the market: from Cisco to Air France-KLM, from Nokia to L’Oreal. In the UK, Diageo fell last week as sales missed taregts on the back of the economic woes of Greece, Spain and Ireland.So are the wheels falling off the earnings story? The answer, by and large, is a resounding “no”. If, for example, you look at the US reporting season so far, 71 per cent of companies have beaten forecasts, according to Capital IQ, a market analytics research group. Capital IQ says this is being led by a strong performance from the financial sector. In fact, virtually no sector is showing a net miss on numbers. The problem appears to be an asymmetrical response from the market when looking at beats compared with misses. UBS strategist Nick Nelson pointed out to me last week that companies beating expectations in Europe are being rewarded with a 3.06 per cent rise in their share prices on average on the day or reporting. However, companies missing are being hit by an average 5.43 per cent fall. The conclusion is clear – investors are getting fussier. They want more bang for their buck.In its most recent report on the European earnings season so far, UBS reports: “We are now approaching halfway through the season, and the developing trend has been of consensus expectations catching up with the early positive reporting, leading net reporting to nearer to in-line.”Nelson believes though that the top line growth story for companies remains strong, but it is the capex increases coming through to the bottom line that are hurting for some companies. Higher costs are materialising for companies across the board but it is the ability, or lack of ability, to pass them on to the consumer that is the key. The nearer you are to the consumer, then the harder it is to pass on price increases. That, at least, is how the logic goes.So while it’s not exactly the moment to call time on the equity market rally of the past two years, with much of the easy money now well and truly in the price, it is undoubtedly time to return to good old – and tricky – stock picking. How inconvenient for most of us.Steve Sedgwick is a presenter on Squawk Box Europe each weekday morning on CNBC. Sunday 13 February 2011 11:14 pm whatsapp Share whatsapp Tags: NULL KCS-content Investors are getting picky last_img read more