Unions can’t agree on how to fight cuts to spending

first_img WHEN Brendan Barber, general secretary of the Trade Unions Congress (TUC), addressed the organisation’s annual summit yesterday, he sounded more like Neil Kinnock than the heir of militant miners’ leader Arthur Scargill. “The government is pursuing a political agenda, so our response must be political,” Barber told delegates, as he sought to distance himself from calls for a national campaign of civil disobedience in response to spending cuts. He also attempted to win support from private sector workers, insisting there was a “huge threat to the private sector as well”, with sectors like construction bearing the brunt of cuts to capital investment. Barber reminded his audience they would have to win the hearts and minds of people outside the trade union tent if their opinions are to have any sway in the national debate over cuts. In a worrying sign of the mood among unionised public sector workers, his comments did little to fire up delegates in the stuffy Manchester conference hall. Most stared ahead in stony-faced silence. A few offered half-hearted, polite applause – but this is not the kind of thing the trade union movement wants to hear at the moment. Bob Crow, the ultra left-wing leader of the Rail, Maritime and Transport (RMT) workers’ union, got a much warmer reception when he told delegates they could either “lie down or stand up and fight”. He is leading calls for a more militant response to plans to slash public spending by 25 per cent in real terms by 2014-15. Crow wants a national campaign of civil disobedience, akin to the riots that killed off Margaret Thatcher’s poll tax in the 1980s, and which helped bring about her eventual fall from power. He also suggested a series of high-profile stunts, such as a protester dressed as Batman climbing on the roof of 10 Downing Street, Spiderman scaling Buckingham Palace, and sit-down protests on motorways and key roads. Of course, proponents of such action claim it will be non-violent. But as anyone who witnessed the anti-capitalist marches in the City last year will attest, this kind of protest is rarely peaceful. A hard core of brutal anarchist thugs will seize any opportunity to attack the police. Innocent people, like the late Evening Standard vendor Ian Tomlinson, will get caught in the cross fire, with tragic consequences.In another sign of Crow’s growing influence in the trade unions, delegates at the TUC yesterday voted unanimously in favour of coordinating strike action when cuts start to bite. That would see different groups of workers down tools simultaneously in a bid to cause maximum disruption. Although several unions have backed generalised strike action?– the closest thing to a general strike that is possible in 2010 – Crow was the first to break ranks and support it. And so you have the age-old split in trade unionism. A militant faction that is hell-bent on class warfare (Crow et al) issues a call to arms, while a moderate voice (Barber and his supporters) urges trade unionists to appeal to the mainstream majority. Now, more than ever, the moderate element knows it must win the argument. Because if Ed Miliband wins the Labour leadership, a distinct possibility in a tight and unpredictable contest, the unions could have a major say over the future direction of the country.When Tony Blair became Labour leader in 1994, he was desperate to end the unions’ stranglehold on the party, abandoning Labour’s commitment to the re-nationalisation of industry and intently trying to find new sources of party funding (a strategy that resulted in the cash-for-honours enquiry which plagued his final days in office). David Miliband, the bookies’ favourite to become Labour leader, would continue on the course charted by Blair. But younger brother Ed, who is on the “soft left” of the Labour party (think Neil Kinnock and the late Robin Cook), has mopped up a huge amount of trade union support, and is much more likely to countenance their opinions than David. In fact, Ed’s manifesto could have been written by the trade unions themselves: a High Pay Commission that would hit wealth creation, a higher “living wage” to replace the minimum wage, a rejection of private involvement in public services, and a pacifist foreign policy.Harriet Harman, who is staying on as deputy leader, also has strong links to the trade unions. Her husband, Jack Dromey, spent seven years as deputy general secretary of the Transport and General Workers Union and Unite until he was parachuted into a safe Labour seat before the last election. If Ed Miliband and Harman take the party into the next general election and win it, the unions will once again have a huge say in policy. The academies programme will be abandoned; state spending will surge; the private sector will have no involvement in the delivery of public services; and the rich will be soaked even more. With Lib Dem voters abandoning the party in their droves and Labour snapping at the Tories in opinion polls, this is not a socialist fantasy but a genuine possibility. However, if Crow and his supporters orchestrate a campaign of civil disobedience, causing chaos, fear and damage to private property, it would reflect badly on a union-friendly Labour party. That’s why Barber is sounding a more moderate note than Crow. He knows the unions could become more powerful than at any time since Jim Callaghan left government in 1979. Ironically, it is trade unionists that could end up scuppering their chances. [email protected] Unions can’t agree on how to fight cuts to spending Show Comments ▼ whatsapp Tags: NULL Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com KCS-content Monday 13 September 2010 7:43 pmlast_img read more

US banks set to suffer from trading slump

first_img More From Our Partners Why 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.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.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com whatsapp Sunday 17 October 2010 11:28 pm KCS-content Show Comments ▼ ANALYSTS have slashed their forecasts ahead of the slew of US banks reporting third quarter earnings this week, as concerns over a steep fall in trading activity and the housing foreclosure ruckus in the States weighed on expectations.Wall Street bank shares had rallied last week after JP Morgan topped analysts’ consensus earnings forecasts of 90 cents per share with $1.01 per share.But the sector has since taken a battering at the hands of investors as it suffers a probe into illegal mortgage foreclosure practices and fears over the earnings impact of a slowdown in Wall Street securities activity.The banks reporting next week are widely expected to record an uptick in profits due to lower one-off impairment charges, though analysts are concerned that the trading slump over the summer will have disproportionately hit investment banking revenues.Citigroup, which reports third quarter earnings today, is expected to post earnings of 5.7 cents per share, down from an analyst consensus of 6.25 cents per share just a week ago, according to Thomson Reuters data.Predictions for Goldman Sachs earnings per share, revealed tomorrow, have also dropped sharply over the week to $2.28 per share, while Bank of America, also reporting tomorrow, is now thought likely to post earnings of under 10 cents per share.Morgan Stanley is expected to earn between 15 and 20 cents per share, down from 38 cents a year ago.Wall Street has been hit with a barrage of gloomy predictions in recent weeks, including renowned analyst Meredith Whitney’s prediction that 80,000 investment bankers are likely to be culled in the next two years. center_img US banks set to suffer from trading slump Share whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoTotal 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 AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Tags: NULLlast_img read more

Chrysler sees a strong 2010

first_img Show Comments ▼ Chrysler sees a strong 2010 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULL Monday 8 November 2010 8:48 pm KCS-content CHRYSLER forecast an operating profit this year, thanks to cost cuts, but chief executive Sergio Marchionne said the automaker had to “fight harder” to revive its image and seize market share.Chrysler projected a $700m (£434.2m) operating profit for 2010 after stripping out financing costs tied to its government-funded bankruptcy. It previously projected it would break even or earn $200m on that basis.Chrysler also pinned its 2010 revenue forecast at around $42bn, in the middle of its earlier range of $40bn to $45bn.The automaker has said it plans a public offering of shares in the second half of 2010. Chrysler’s larger rival, General Motors, is slated to go public later this month.Chrysler was on the brink of liquidation in 2009 before a US government-funded bankruptcy slashed its operating costs and gave majority ownership to a union-affiliated trust fund and management control to Fiat SpA. The company is introducing 16 new or updated models, including the Fiat 500 subcompact. US dealer inventory is expected to rise in the fourth quarter to support the sales of the new products.Chief executive Sergio Marchionne said he was encouraged by trends heading into 2011, but said the automaker still had much to prove on its path to recovery.“We got a bloody nose on the way into the recession and I’m not sure we got it all back on the way out,” Marchionne said during a call with analysts. “So we need to fight harder.”The automaker reported a net loss of $84m, compared with a net loss of $172m in the second quarter. Excluding $308m in interest on loans and other expenses, the company posted an operating profit of $239m, its third consecutive profit on that basis. Revenue rose to $11.02bn from $10.5bn in the second quarter. center_img whatsapp 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 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 Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Share whatsapplast_img read more

Blackstone and TPG line up to bid for troubled Egg bank

first_img KCS-content Wednesday 17 November 2010 8:42 pm BLACKSTONE and TPG are believed to be preparing a bid for US lender Citigroup’s online bank Egg.Citigroup bought the unit in May 2007 for £546m from British insurer Prudential. However binding offers are expected to fall well short of that level, at around £300m.Barclays bank is also believed to have an interest in Egg and could merge it with its Barclaycard and mortgage operations. But it remains unclear if it will lodge a binding bid.Blackstone has teamed up with specialist credit card provider SAV Credit, which is backed by private equity investors Palamon Capital, Morgan Stanley Alternative Investments and Electra Private Equity.If successful, Blackstone would merge Egg with SAV Credit, which owns the Marbles credit card brand, taking control of the enlarged group, one source said. Citigroup has already said that Egg is part of its portfolio of non-core assets that it is looking to reduce.The bank has never disclosed financial figures for Egg, although it was a troublesome asset for Prudential, which set it up in 1998 as one of Britain’s first internet banks. whatsapp More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com whatsappcenter_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 PastUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Show Comments ▼ Blackstone and TPG line up to bid for troubled Egg bank Tags: NULLlast_img read more

CSC fends off Simon’s £3bn takeover bid

first_img 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 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 Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com CSC fends off Simon’s £3bn takeover bid Share Wednesday 15 December 2010 8:45 pm US property giant Simon tried to push Capital Shopping Centres (CSC) into scrapping its £1.6bn purchase of the Trafford Centre yesterday with a £2.9bn indicative offer for the entire company.CSC rejected the 425p-per-share proposal after an emergency board meeting yesterday, claiming the move was “yet another attempt by Simon to frustrate the Trafford Centre acquisition”.However, CSC delayed its shareholder meeting planned for 20 December, which would have given investors a chance to approve the Trafford deal with current owner Peel Holdings. Peel backed its stance. Simon welcomed the delay, and urged CSC “to listen to calls from your shareholders – many of whom we have spoken to – opposing the Trafford Centre.”Its indicative offer represents a seven per cent premium to CSC’s share price on Tuesday, and comes with conditions including the end of the Trafford purchase and access to CSC’s books to undertake due diligence. Credit Suisse analyst Steve Bramley-Jackson told City A.M. that Simon’s offer was unrealistic. “I don’t think there’s enough financial headroom for Simon to increase its offer to a level acceptable for CSC shareholders. “A lot of the big CSC investors are involved to maintain exposure to UK property, which they are unlikely to exchange for cash at this stage.”Capital Shopping Centres shares gained 4.9 per cent to close at 415.6p.TIME LINE | THE FIGHT FOR CAPITAL SHOPPING CENTRES24 NovemberCSC confirms it in advanced talks with Peel Holdings to buy the Trafford Centre in Manchester for £1.6bn. The deal looks set to be the biggest-ever single property transaction in the UK. 25 NovemberWorld’s biggest mall-owner and CSC shareholder Simon Property publishes a letter it wrote ahead of CSC’s announcement, urging it to delay its purchase of the Trafford Centre until it can make a takeover offer. CSC shares gain 12.5 per cent. 8 DecemberSimon demands to see CSC’s books so it can perform due diligence ahead of a formal takeover offer, threatening to sell its 6.25 per cent stake; CSC refuses. 8 DecemberSimon sends a letter to the CSC board offering to fund a 400p per share placing, providing Peel Holdings accepts cash rather than a stake in CSC in the Trafford deal. CSC rejects the offer, and Peel writes a letter in support of its position. 15 December: 7amSimon makes an indicative offer of 425p a share for CSC.15 December: 2.30pmFollowing an emergency board meeting, CSC rejects the offer as “yet another attempt by Simon to frustrate the Trafford Centre acquisition”, but says it will delay its EGM.Late January 2011New EGM to vote on Trafford deal. whatsapp whatsapp KCS-content Tags: NULLlast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_imgMonday 17 January 2011 8:24 pm CITY MOVES | WHO’S SWITCHING JOBS whatsapp whatsapp Share RSM TenonThe financial services firm has appointed two new directors and an associate director in London. Nick Atkinson has been promoted to a risk management director, specialising in internal audits of the NHS. Nick Davies (pictured) has been promoted to business advisory director in the audit, tax and advisory team, specialising in corporate clients. And Noses Nyachae has been made an associate director in the same team as Davies.Barings Asset ManagementThe investment manager has appointed Christine Bergstedt Jorgensen to a newly created role as director of European institutional sales and business development. She will report to Andrew Benton.Bergstedt Jorgensen joins the firm from Aviva Investors, where she was head of Nordic sales for institutional clients. She has also worked in fund management at BankInvest.Kinsey Allen InternationalThe executive search firm has appointed Kate Sumner-Brown as a consultant in its legal practice. She joins from Clifford Chance, where she was an associate in the firm’s private funds group.She has also worked as a solicitor at Bell Gully, a New Zealand firm, before she moved to the UK.BLPBerwin Leighton Paisner has appointed Jacob Ghanty to its financial services team. He was formerly a partner at Pinsent Masons.In the past, Ghanty has worked for AXA, Barclays, Credit Suisse and HSBC.Morgan StanleyThe investment bank has recruited a new chief economist for Russia and Ukraine, Jacob Nell. He joins the firm from TNK-BP in Moscow. Before this, he worked for BP?in London and Moscow for five years and has also worked at the Treasury for a decade.RathboneRathbone Investment Management has appointed Lee Barter as an investment manager. He joins the firm from Barclays Wealth and has previously worked at Blackrock and Rensberg Sheppards.LaSalleLaSalle Investment Management has appointed Martin Jochem as a joint managing director of the firm’s newly licensed investment vehicle Kapitalanlagegesellschaft. Tags: NULL KCS-content 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap Show Comments ▼last_img read more

Rolls-Royce wins new $2.2bn contract

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal 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 AthletesBetterBeUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamUndo Share Tags: NULL whatsapp Rolls-Royce wins new $2.2bn contract alison.lock Show Comments ▼center_img whatsapp Engine maker Rolls Royce has won a $2.2bn (£1.37bn) long-term maintenance contract with Emirates airline.The deal covers Rolls Royce’s engines in the airline’s fleet of 70 Airbus craft.It adds to current contracts to take the total number of Emirates aircraft serviced by Rolls-Royce to 128.Emirates, the airline of the United Arab Emirates, is a key Rolls-Royce customer and this deal will help the engineering giant repair the reputation of its Trent engines after they suffered problems last year.In November it had to review its Trent 900 engines on the Airbus A380 after one exploded on a Qantas flight from Sydney from Singapore, forcing the pilot to make an emergency landing.The incident caused Qantas to ground its fleet of A380s to investigate the problem. Monday 14 February 2011 4:26 am Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wraplast_img read more

NYSE eyes merger by end of year

first_img NYSE eyes merger by end of year 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 AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoam whatsapp KCS-content A DEAL between Deutsche Boerse and the New York Stock Exchange (NYSE) could be tied up by the end of this year, details due today are expected to reveal.An announcement on the progress of the deal could come as soon as this afternoon after the two companies’ boards meet to vote on the matter.Any delay to the deal’s approval could open the door to rival bidders for NYSE Euronext – one report last night cited CME Group as a potential buyer. Chicago-based CME declined to comment. CME officials have been guiding investors away from expectations that the company would do a merger deal.NYSE’s general counsel, chief operating officer and global head of technology last night looked set to keep their positions following the planned merger.However, the deal could face stern opposition from protectionist elements. Yesterday, a labour representative from Deutsche Boerse’s supervisory board raised concerns over the influence the NYSE could have on the German exchange. Johannes Witt said: “It will be a matter of time before the Americans take control. We should be wary of this. It won’t be possible to undo the deal once it is signed.”The German government has indicated it will play a limited role in the merger, indicating it could be successful.But other people familiar with the situation said some issues — such as the name, job cuts in technology, and where other promised cost savings would come — still need to be worked out in detail.Negotiations over a name, and where to locate various operations across the two continents, highlight some of the difficulties in bringing together companies that are both operationally complicated and symbols of national pride. Show Comments ▼ center_img Share whatsapp Monday 14 February 2011 9:39 pm Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap Tags: NULLlast_img read more

Nomura loses key banker after only 18 months

first_img Share KCS-content Show Comments ▼ whatsapp THE global co-head of the financial institutions group (FIG) at Nomura has quit after less than 18 months with the Japanese bank. He is one of a number of high profile Nomura bankers to have left the bank within the past year.Dan McNamara, who was global co-head of the FIG business with Hubert Bastide, has resigned with immediate effect. London-based Bastide is currently acting as sole global head, a position he will continue to hold. Nomura said yesterday that Petter Sternby would become head of the bank’s Asian FIG group.McNamara joined Nomura at the end of 2009 from Citigroup, where he was co-head of investment banking for Asia-Pacific.Yesterday sources said he was leaving the bank to go to the US where his family live. They said he did not have a job to immediately go to. Nomura’s FIG team has lost four other high profile executives since the beginning of last year and last week the bank suffered the blow of not being chosen to work on the LSE’s £4.3bn merger deal despite being the LSE’s corporate broker. Nomura says that it fares comparatively well in retaining employees. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Monday 14 February 2011 9:01 pm whatsapp Nomura loses key banker after only 18 months Tags: NULLlast_img read more

Rumours of foreign bids for Invensys

first_img KCS-content whatsapp ENGINEERING firm Invensys could be the target of a foreign takeover, with Swiss, French, German and Chinese firms all understood to be considering bids.Potential suitors include Emerson Electric, Siemens, China Southern Rail (CSR) and ABB.Sources close to Invensys played down the rumours to City A.M., saying the firm has been linked with numerous bids over the last two years. No bids had been tabled as of last night.Analysts have long viewed Invensys as a candidate for break-up, a view that chief executive Ulf Henriksson appeared to endorse in November when he said CSR could acquire or take a stake in the business.Invensys, which makes industrial process automation systems, signalling and control systems for railways and various control products for domestic appliances and other applications, made an operating profit of £248m in the full financial year ended March 2010.Its operating profit in the last three months was unchanged from a year ago. whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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’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 Wrap Share Show Comments ▼ Sunday 20 February 2011 10:43 pm Rumours of foreign bids for Invensys Tags: NULLlast_img read more