first_img whatsapp AUSTRALIAN banking giant Macquarie Group yesterday slapped investors with a shock profit warning, admitting that its earnings will fall around a quarter over the first half of the year due to torrid market conditions.Macquarie, which has in the past been nicknamed the “millionaires’ factory” due to the sizeable pay packets awarded to its star bankers, warned that its trading and advisory operation had been significantly impacted by the weak markets.Profit for the six months to end of September is likely to drop by 25 per cent on the same period last year, Macquarie said, obliterating analyst expectations of an 11 per cent rise. The group expects earnings to remain flat over the full year to March compared to last year, but only as long as market activity returns to more normal levels in the near future.The dismal update comes after Macquarie migrated from its investment management fee model to a more traditional investment banking framework following the trials and tribulations of the financial crisis.Its famously generous compensation packages have also dwindled recently, leading analysts to question whether or not it is losing too many of its top staff. Last month, analysts at UBS said in a note that Macquarie should cut jobs and earmark the money saved to boost salaries and bonuses.“This low compensation capability may become a material hurdle for staff retention and the ability to attract high-quality recruits,” the note said.Macquarie, Australia’s biggest bank, has slipped recently at home, with its M&A advisory market share falling by a third. It did not manage to land a place among the advisers to mining giant BHP Billiton’s $39bn bid for Canada’s PotashCorp.It has fallen to fifth position in its mainstay equity underwriting business, losing out to Bank of America Merrill Lynch, JPMorgan and RBS, according to Thomson Reuters data. Macquarie, which has A$3.1bn in surplus capital and A$29bn in liquid assets, had twice earlier warned concerns about the global recovery had dragged down market activity to their lowest level since 2004. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com Share Monday 6 September 2010 8:15 pm KCS-content Weak market rocks profits at Macquarie Show Comments ▼ whatsapp Tags: NULLlast_img read more

first_img whatsapp Tags: NULL Britain’s Renewable Energy Holdings (REH) will sell its German wind farms for just under 40m euros (£33m) to pay off debts and pump more money into Polish and Welsh projects.The news sent shares in REH, which have slumped 64 percent this year, were up almost ren per cent to 9.75 pence following the announcement.Windpark Kesfled and Windpark Kirf will be sold to Allianz Renewable Energy, pending approval from shareholders, REH said in a statement, after they failed to reach windspeeds originally projected when they were bought by REH.“The board believes the company’s development projects, being the Kobylany Wind Farm Project in Poland and Mynnydd y Gwynt in Wales, should be the main focus of REH’s activity going forward, due to the potentially superior economic returns they could provide,” REH said. Show Comments ▼ John Dunne Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’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 ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily 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 ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmcenter_img whatsapp Monday 6 September 2010 3:58 am Share REH to offload German wind farms last_img read more

first_imgMonday 20 September 2010 9:13 pm KCS-content whatsapp whatsapp THE two sides of the coalition look set to clash over a string of key business issues, according to a British Chamber of Commerce (BCC) survey of MPs.One potential battleground is the forthcoming appointment of outgoing HSBC chairman Stephen Green as full-time trade minister. Around 62 per cent of Tories are in favour of the move, but half of the Lib Dems feel the role is unnecessary.There is also a gulf in opinion between the two sides over investment in infrastructure. Lib Dems are 70 per cent in favour of maintaining or increasing this area of expenditure, a sentiment echoed by business leaders. However, only 27 per cent of Tories agree.Employment law also looks to be a thorny issue, with 87 per cent of Tories saying the balance of power had shifted too far towards the employee. Around 71 per cent of Lib Dems disagree.David Frost, Director General of the BCC, said: “We are concerned about some of the gaps opening up between ministers and their parliamentary parties. This is a critical week for Nick Clegg to re-state the importance of business growth to his party.” Cracks start to appear in the coalition over business plans 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 Proofcenter_img Share 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 Show Comments ▼ Tags: NULLlast_img read more

first_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller 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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com 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 PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity 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 HeraldDiscovery23+ Sports Stadiums Around the World That Are Abandoned NowDiscoveryZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Show Comments ▼ BRICs to get IMF influence Tags: NULL Sharecenter_img KCS-content THE INTERNATIONAL Monetary Fund has agreed a landmark deal that will hand more power to emerging economies, whose clout in the IMF has not kept up with their economic ascent. Europe will give up two of its eight seats on the 24-member board, which will be taken up by Brazil, Russia, India and China. In total, more than six per cent of the voting rights will be transferred. It is still unclear which European countries will miss out, although chancellor George Osborne has insisted that Britain will not give up any of its voting rights.Still, the deal catapults China over the heads of Germany, France and Britain, to become the third most powerful member of the IMF, up from sixth spot currently.IMF managing director Dominique Strauss-Kahn called the agreement historic. “This makes for the biggest reform ever in the governance of the institution,” he said.The announcement was made as finance ministers from the Group of 20 major economies met in South Korea. They also agreed to shun competitive currency devaluations but stopped short of setting targets to reduce trade imbalances that are clouding global growth prospects.Key points in G20’s deal to avert a currency war● Pre-summit meetingFinance ministers from the G20 nations met in the South Korean city of Gyeongju over the weekend to thrash out a deal ahead of the G20 summit in Seoul on 11 and 12 November. ● Currency truceThe group released a communique after the meeting, promising to “move towards more market determined exchange rate systems that reflect underlying economic fundamentals and refrain from competitive devaluation of currencies”. ● The role of the USThe G20 said “advanced economies, including those with reserve currencies, will be vigilant against excess volatility and disorderly movements in exchange rates,” in a nod towards the US’s responsibility in keeping rates stable. ● Trade imbalancesThe group will “pursue the full range of policies conducive to reducing excessive imbalances” but gave no details. ● Basel IIIAs expected, the G20 said it will accept the Basel III banking capital rules in their entirety at its full meeting in November● After-hours meetingUS Treasury secretary Tim Geithner held talks with the Chinese vice-premier after the G20 meeting in an attempt to patch up growing tensions between the two economic powers● Will it work?Analysts were divided. Some had hoped for a deal similar to the Plaza Accord in 1985, which was put in place by the G5 to manage the depreciation of the dollar. Sunday 24 October 2010 11:34 pm whatsapplast_img read more

first_img 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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Tags: NULL whatsapp EUROPEAN planemaker Airbus plans to upgrade its best-selling A320 medium-haul jets from 2016 with new engines offering 15 per cent fuel savings, as it fends off upstart competitors.Airbus said yesterday that it would invest just over €1bn (£840m) in the “A320neo” project to improve efficiency and cut harmful emissions and noise.Until now, Airbus and US rival Boeing, with its 737, had resisted changing winning designs that are the backbone of the global airline business and helped give birth to the low-cost sector. The new planes, with upward-slanting wingtips, will look almost identical to existing aircraft but have larger and more efficient engines from either US group Pratt & Whitney or CFM International, a joint venture between US conglomerate General Electric and French group Safran.The long-awaited decision hit back at Canadian group Bombardier, China and Russia, who all aim to challenge Airbus and Boeing for a segment of the global jetliner market, worth $1.7 trillion (£1.09 trillion) over 20 years. It was also a critical move in a war between enginemakers for dominance as the aviation industry climbs out of recession.The new engines will be offered as an option on A320 and derivative A319 and A321 models. KCS-content Airbus plans €1bn upgrade of key aircraft Sharecenter_img Wednesday 1 December 2010 7:15 pm whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayNoteabley25 Funny Notes Written By StrangersNoteableyMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoamlast_img read more

first_imgMonday 6 December 2010 8:45 pm 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 A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo Show Comments ▼ KCS-content More From Our Partners Brave 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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com HAYWARD: THIS YEAR’S HIGHEST PROFILE CEO CAUSE for former BP boss Tony Hayward to take comfort from the old adage, “all news is good news” – if he can. Data from media analysis firm Sweet & Maxwell reveals that he was the most high profile FTSE 100 chief executive in the last year.The beleaguered Hayward, who was banished from BP to Siberia in July, was mentioned in 1,931 pieces of press coverage between September 2009 and September this year – and it wasn’t to compliment his choice of tie. To put that in perspective, Hayward’s numbers compare to an average mention count of just 151 for his FTSE 100 peers.But who else can claim the lucky accolade of such fame? British Airways’ Willie Walsh comes in second at 1,560 after spending much of the year locked in trade disputes with the Unite union. In at third place is outgoing Marks and Spencer boss Sir Stuart Rose with 1,223 pieces of coverage. And Rose was no doubt happier with his placing than famously media-shy Royal Bank of Scotland boss Stephen Hester, whom he beat by one place. Hester bagged runner-up position last year to Sir Fred Goodwin, but this year, he dropped to fourth with only 1,082 pieces of coverage. But if Stephen is missing the limelight there’s an easy solution: crack out his old hunting coat and tails outfit, the subject of a much-reprinted photo.MOULTON GROUNDEDAside from depressed high street retailers, there was another victim of the past week’s weather shenanigans: Better Capital chairman Jon Moulton. Having planned a quick trip up to Edinburgh yesterday to check up on an investment and give a talk at the Edinburgh Chamber of Commerce, he found himself facing airport closures. Particularly unfortunate given the intriguing title of his speech, to tackle the topic of government: “Cuts, Scratches and Wounds”. The coalition had better beware. ALL IN THE FAMILYThe Capitalist has learned that, like his one-time political master Lord Mandelson, loyal Labour servant Dan Corry will shortly be back in business, taking up a position in the New Year with the consultancy firm FTI. Corry, who spent the last three years working on policy and economics in Downing Street and whose former bosses include ex-Cabinet ministers Stephen Byers, Margaret Beckett and Ruth Kelly, will be working lower down the hierarchy than former government economist Vicky Pryce (also the estranged wife of environment secretary Chris Huhne). But surely politicos are used to catching up on their time in government over the next office’s water cooler? It’s a small world, after all.HIGH FIDELITYAnother reason to hire more women. Research firm Equiniti says its research shows that women are more loyal to their employers than men. The research found that 83 per cent of women asked would call themselves either somewhat or very loyal to their workplace versus 72 per cent for men. And, contrary to expectations, those below aged 30 are just as loyal as their older peers: one in four fit into the somewhat or very loyal category, the same proportion as for over-60s.As for how to tackle those disloyal middle-aged men, you could try an employee share plan programme – letting them buy shares at a discount. But the figures show that share plans actually work better with women: loyalty improves by threefold more among women offered shares than among men. It seems female stock is rising. center_img whatsapp Share whatsapp Tags: NULLlast_img read more

first_img 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 Wellstream up as GE confirms £800m offer Tags: NULL Monday 13 December 2010 9:25 pm KCS-content whatsapp Share SHARES in oil services group Wellstream jumped 5.8 per cent to 790p yesterday after General Electric confirmed its £800m takeover offer.GE offered a total of 786p per share for the Newcastle-based firm, six pence above its original offer. The bid leaves Wellstream’s directors in line for a £22m windfall.Wellstream’s directors own 2.8 per cent of the company’s shares, which GE will buy at a 29.1 per cent premium to the closing price before the news of bid interest. Chairman John Kennedy stands to gain the most, making £18.4m from his 2.3 per cent stake. Wellstream declined to comment on whether the board members will remain with the company once it is absorbed into GE’s Italy-based oil and gas division.GE will take over Wellstream’s manufacturing plants in both Newcastle and Niteroi in Brazil. Wellstream said its advisers, Credit Suisse and Rothschild, believe the deal is fair, and has recommended that shareholders accept the takeover.“[T]he logic and desire of the GE bid seems greater than the desire or financial resources of other potential bidders, with the possible exception of National Oilwell Varco,” said Keith Morris of Evolution Securities. Show Comments ▼ whatsapplast_img read more

first_img 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 A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemUndo Inflation fear up, but Posen unconcerned Share whatsapp Thursday 16 December 2010 8:14 pm SUPPORTERS of a rise in interest rates were compared to “global warming deniers” yesterday by a leading Bank of England rate setter.Adam Posen said that judging the economy on “temporary” high inflation and growth levels was like denying global warming “every time we had a bad winter.” Expecting economic conditions to continue was similar to betting on Bolton Wanderers to win the Premier League, he joked.Posen is the only member of the Monetary Policy Committee (MPC) to have pushed for a further programme of quantitative easing (QE2) this year, despite economic growth surpassing expectations.And yesterday he forecast inflation would drop below one per cent in two years’ time. The projection is “well below that of the [Bank’s] November Inflation Report,” he admitted.Yet the public expect inflation to rise, according to a survey conducted by market research group GfK NOP for the Bank.People expect inflation of 3.2 per cent in 2012, the survey revealed yesterday — up from August’s prediction of 2.9 per cent.Yet people fear inflation could hit 3.9 per cent in the coming year, compared to a projected 3.4 per cent in the summer’s survey.Some 61 per cent of those surveyed said the economy would end up weaker if prices started to rise faster.“The marked increase in inflation expectations seems to be yet another nail in the coffin for hopes of further quantitative easing,” said Howard Archer of IHS Global Insight.While some members of the MPC may sympathise with Posen’s assessment, they “shrink from his policy prescription,” said Simon Hayes of Barclays Capital Research.The committee’s December voting pattern is released next Wednesday. center_img Show Comments ▼ 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 whatsapp KCS-content Tags: NULLlast_img read more

first_img whatsapp whatsapp JUBILANT Energy has started drilling a second appraisal well in the Deen Dayal East area of Krishna Godavari block, off the coast of India. The appraisal well DDE-APP-1, located in 101m of water, was spudded – or drilled into – on Saturday by the “Deep Driller-1” rig from Aban Offshore. Jubliant said the target depth of the well is 4,750m true vertical depth with the objective of appraising the hydrocarbon bearing sands of the KG-16 discovery well. This is the 17th well to be drilled by the consortium in the block. The last 12 of the wells drilled all contained gas and condensate. Jubilant holds a 10 per cent participating interest in this block through its subsidiary Jubilant Offshore Drilling Private Limited in India. Gujarat State Petroleum Corporation, with an 80 per cent participating interest, is the operator for the block. More From Our Partners Man on bail for murder arrested after pet tiger escapes Houston homethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comWhy people are finding dryer sheets in their mailboxesnypost.comKansas coach fired for using N-word toward Black playerthegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.com Tuesday 4 January 2011 7:23 pm Tags: NULL Sharecenter_img KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBewadaHusband Divorced His Wife After Looking Closer At This PhotoBewadaUndoDinnerZUTop 5 Foods That Help Lose Weight FastDinnerZUUndoadvisor15 Plants that Repel Mosquitoes NaturallyadvisorUndocutenova.comTake a Peek at 10 of the Most Expensive Houses in the Worldcutenova.comUndoAmoMediaSpoiled Guy Mocks Waiter, Dad Teaches Him Cruel LessonAmoMediaUndoCleaning Services | Search AdsHere’s What Cleaning Services In Scottsdale Should Actually CostCleaning Services | Search AdsUndoEmergency Plumbing ServicesPlumber Prices In Scottsdale might surprise YouEmergency Plumbing ServicesUndoBuzzDestination7 Types of Men Who Are Not Made For RelationshipsBuzzDestinationUndoMold Removal | Search AdsBathroom Mold Removal Tips That Might Surprise Most AmericansMold Removal | Search AdsUndo Show Comments ▼ Jubilant begins testing on second appraisal well last_img read more

first_img Share 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 PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo Fed: Economy is recovering Show Comments ▼ KCS-content AMERICA’S end of year economic uptick was confirmed by the Federal Reserve beige book last night.The report, based on anecdotal accounts from businesses across the Fed’s regional branches, painted a “positive, although still generally cautious” picture.“Economic activity continued to expand moderately from November through December,” the report said. “Conditions were generally said to be better in manufacturing, retail, and nonfinancial services sectors than in financial services or real estate.”US manufacturing received a boost, as the beige book reported continued recovery in all districts. Retailers in all districts reported an improved holiday season, compared to the previous year.And there was even positive news for jobs growth. “Labour markets appeared to be firming somewhat, as some modest hiring beyond replacement was said to have occurred.”Retailers and manufacturers reported the effects of rising global prices, yet competitive pressures prevented increases being passed onto consumers. Upward pressure on wages was also reported as limited. “We take this as an encouraging report,” said Barclays Capital. center_img Tags: NULL Wednesday 12 January 2011 9:12 pm 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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.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.com whatsapp whatsapplast_img read more