Obama hopes publicity stunt will allay Gulf oil fears as BP suspends seal plans

first_img Show Comments ▼ KCS-content Obama hopes publicity stunt will allay Gulf oil fears as BP suspends seal plans US PRESIDENT Barack Obama and his family visited Florida’s Gulf coast this weekend as part of a drive to encourage tourism to the region blighted by the Deepwater Horizon oil spill. Speaking before an afternoon dip with his daughter, Obama said his administration remains committed to ensuring a full clean-up is carried out.  “I’ll not be satisfied until the environment has been restored, no matter how long it takes,” Obama said in Panama City Beach, Florida. “We’re going to continue to monitor and remove any oil that reaches the surface.”Beaches all along the Gulf coast are clean and open for business and the seafood is safe, he added. The trip came as BP’s attempts to permanently seal off the well that caused the devastating oil leak have suffered a setback.Up to 1,000 barrels of oil are thought to remain trapped in the well and US officials fear new leaks may form when the company pumps in more mud and cement for the final plug.BP has had to suspend work on the relief well and bottom-kill procedure until further tests are completed.The firm is expected to finish its analysis tomorrow and says its driller rig is on standby to carry out the work. Share whatsapp Sunday 15 August 2010 10:44 pm whatsapp 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 ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot Tags: NULLlast_img read more

HOLLYWOOD DIRECTOR HAS POP AT GOLDMAN

first_img HOLLYWOOD DIRECTOR HAS POP AT GOLDMAN 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 whatsapp KCS-content Wednesday 22 September 2010 7:57 pm Show Comments ▼ HOLLYWOOD director Oliver Stone is clearly a very brave man, having taken a figurative pop at not one, but two of the world’s most successful businessmen in the past week.Just a few days ago, it emerged that Stone – currently on a publicity flash tour to coincide with the opening of his new film, Wall Street 2: Money Never Sleeps – had axed a cameo scene featuring US mogul Donald Trump from the film’s final cut, describing it as “distracting”.And now, it appears he’s game for a backhanded shot at none other than Goldman boss Lloyd Blankfein, too.Talking about the film’s character Bretton James, played by rugged actor Josh Brolin, in a recent Bloomberg interview, Stone said he was based a little on former Treasury secretary Robert Rubin, a little on JP Morgan chief Jamie Dimon – and would be a little on Blankfein too, if only he were “handsomer”. The sheer cheek of it, eh?CRASH PADWhile we’re on the subject of the beauteous Dimon, it’s been a happy week for him all round. The JP?Morgan chief has been having rather a headache trying to complete the sale of his Chicago Gold Coast pad of late, having originally put the 13,500 sq ft property on the market before the global economy went pear-shaped in early 2007.He’s had to slash the price repeatedly since that time due to a dearth of demand – but having dropped from its original $13.5m price tag down to $9.5m, and then again just a few short weeks ago to a smidgeon short of $7m, the eight-bedroom mansion is now finally under contract.OCCUPATIONAL HAZARDTo Christopher’s off the Strand yesterday morning, where a gaggle of excited journalists and investment geeks were treated to an exclusive roundtable breakfast with renowned emerging market guru Mark Mobius of Franklin Templeton Investments. Between delivering gems of wisdom on population growth in Nigeria and tales of globetrotting in unusual locales, Mobius had some useful dietary advice: “If you ever want to eat a tuna sandwich again, don’t go to a tuna factory. I visited one where they had two lines: one was the human food line and one was the cat food line – and they didn’t look any different…” (Enough to put you off your M&S lunchtime special, isn’t it?)As for currying favour with emerging market governments, the investment sage recounted a feted arrival in Bashkortostan, a mineral-rich, semi-independent republic in Russia. The state’s most celebrated officials turned up at the airport to welcome their exotic visitors, politely taking their suitcases and escorting them towards their cars. As they walked, Mobius spotted a colleague slipping a fiver out of his pocket to tip the luggage porter. Alarmed at the impending faux pas, our guru had to act fast. He raced over to his colleague: “Carlos, don’t! That’s the minister of finance!”$5 was probably not the kind of investment the minister had in mind.SHORT SHRIFTMore on the antics of Andrew “Bert” Black, one of the co-founders of internet betting group Betfair, who’s set to pocket a cool £17m or so if the company’s proposed initial public offering goes to plan.Black, who’s long left the day-to-day running of the firm to his original partner Ed Wray, quietly announced his intention to retire from the firm as a non-executive director on Tuesday, on the day the float was announced. Clearly not one to get emotional about such momentous decisions, Black broke the news of his resignation in forthright style on his Facebook page, signing off with the calm retort: “Oh well”…FOND FAREWELLA sad but very fond farewell is planned tomorrow for City veteran Adrian Ireland, who passed away earlier this year at home in Ibiza. Ireland, a long-time employee of Winterflood Securities, was much-loved by colleagues, who nicknamed him “the bean pole” in his early days at the firm, until his passion for the better things in life started to take their toll on his waistline. He was cricket-mad and a regular at Lords cricket ground, where I’m told he could sometimes be spotted taking a short “power nap” as the cameras panned around the stands.Friends who would like to offer their condolences to his wife Jane and his two sons, as well as raising a glass of kummel in his memory, are invited to a memorial service tomorrow at 12pm at St Botolph’s Church, Liverpool Street.MOTORING AHEADMuch consternation among the petrolheads yesterday at the launch of a luxury kitchen, of all things, where entrepreneur Leo Caplan turned up in a rather swanky motor.Caplan – who hit the headlines when he snapped up furniture group Smallbone of Devizes out of administration last year – was helping to lure in the rich list to his company Alternative Plan’s new kitchen range Strato, where products start at an eye-popping £100,000.His car certainly won’t have harmed the cause, anyway: it’s a £1.5m Bugatti Veyron Grand Sport in brilliant white, with the numberplate L2 – and he’s one of only five lucky owners in the country. Little wonder the boys’ jaws were hitting the floor. Tags: NULL whatsapplast_img read more

North Face fuels sales climb as Vanity Fair eyes expansion

first_img North Face fuels sales climb as Vanity Fair eyes expansion whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com KCS-content Tags: NULL Sharecenter_img VANITY Fair, whose brands include North Face and Vans, is targeting new stores in the UK to build on a 55 per cent first half rise in earnings.The company made $274.4m (£174m) with strong growth in Asian markets and record revenues of $3.3bn. North Face, which consists of outdoor high performance clothing, is continuing to drive sales, with skate fashion brand Vans also reporting a 24 per cent jump in sales. Meanwhile earnings per share rose 55 per cent to $2.47.President of outdoor bands Patrik Frisk said that the company has managed to prosper despite the global downturn and is looking at opening more stores in the UK.“We have seen our brands prove very resilient. The quality we offer at the price has allowed us to keep on expanding.““We are doing well in the UK and want to have the brands in more stores as there is demand.” Traditionally North Face has been associated with mountain climbing, but the brand is now worn for casualwear as well as sport. “In New York everyone wears this stuff, it’s everywhere,” he said. whatsapp Sunday 3 October 2010 10:43 pm Show Comments ▼last_img read more

Eat takes its third bite at the market as it is put up for sale

first_img KCS-content SANDWICH shop chain Eat has been put on the market for the third time by its owners.The company, which has 100 stores and is planning to double that in the next two to four years, is expected to fetch more than £100m as interest from private equity groups mounts.The firm is being advised by PricewaterhouseCoopers (PwC) and financial brochures were sent out last week to more than a dozen buy-out houses.Eat was founded in 1996 by former hedge fund manager Niall MacArthur and his wife Faith and has continued to increase its profits throughout the latest recession.Following the lead of rival Pret a Manger, which sold for £350m to Bridgepoint two years ago, Eat was also put on the market. But the timing was wrong, with markets weak after the Lehman Brothers collapse.A second bidding round came earlier this year, although potential buyer Waitrose pulled out of the deal after three months.In the latest sales round, MacArthur has signalled he will retain his 50 per cent stake, while his private equity partner Penta Capital is looking to sell all of its stake. 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 PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe 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 Sunday 10 October 2010 11:34 pm whatsapp 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.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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.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.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comConnecticut man dies after crashing Harley into live bearnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Sharecenter_img Eat takes its third bite at the market as it is put up for sale whatsapp Show Comments ▼ Tags: NULLlast_img read more

IG?dismisses €25m case from Echelon

first_img Show Comments ▼ Share whatsapp BROKERS yesterday urged investors to take advantage of any fall in IG Group’s share price following the news that three former clients of bankrupt Scottish firm Echelon Wealth Management are suing the spread betting firm for more than €25m (£21.2m).Echelon, a Glasgow-based contracts for difference (CFD) broker which went into liquidation in October 2008, used IG group’s trading unit IG Markets to hedge its exposures. Clients of Echelon were covered by the Financial Services Compensation Scheme, which paid out losses up to £48,000. IG yesterday dismissed the claim as “speculative” and “without foundation” pledging to “defend itself vigorously.” It said it did not expect the case to have any material impact on the group.Brokers Numis and Panmure Gordon were equally dismissive of the case yesterday, reiterating their “buy” ratings and both suggesting investors capitalise on any share price weakness. “This is a speculative claim which may not even go to trial. Buy into any weakness following today’s news,” said Panmure Gordon analyst Vivek Raja. Numis analyst James Hamilton also said he expected the case to be dismissed without reaching court, but pointed that even if it did reach court that the cost was immaterial.“IG held £22m of cash balance as of 31.05.2010 and so a €25m loss would have next to no impact on the group. Any share price weakness should be seen as a buying opportunity,” he said.IG’s shares yesterday closed 1.3 per cent lower at 490.9p. KCS-content More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.comMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com whatsapp IG?dismisses €25m case from Echelon Tuesday 23 November 2010 8:57 pm Tags: NULLlast_img read more

US mogul Barry Diller steps down as CEO at IAC

first_img MEDIA mogul Barry Diller stepped down as chief executive of Internet company InterActiveCorp (IAC) yesterday.IAC, a wide collection of websites, said Diller will be replaced by Greg Blatt, the chief executive of IAC’s online dating site Match.com. However, Diller will remain as chairman of IAC.Also, rival Liberty Media says it has exchanged its 60 per cent stake in IAC for the company’s Evite and Gifts.com businesses and around $220m in cash. The exchange was designed to be tax-free to both IAC and Liberty.In a long career Diller ran Paramount Pictures and gave the green light to films Saturday Night Fever and Raiders of the Lost Ark. He also set up Fox TV and commissioned The Simpsons. whatsapp Show Comments ▼ KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking 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 Proof Sharecenter_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 Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamUndo Thursday 2 December 2010 8:32 pm whatsapp US mogul Barry Diller steps down as CEO at IAC Tags: NULLlast_img read more

Apprentices turn to drink in closely fought final

first_imgSunday 19 December 2010 10:44 pm KCS-content Apprentices turn to drink in closely fought final whatsapp Show Comments ▼center_img THE Apprentice final and emotions are running high. “I’m just ecstatic,” mumbled Chris, with the enthusiasm of someone who’s agreed to take part in a telemarketing survey. Summoned to The Langham hotel, Lord Sugar did his best to be warm and welcoming to Chris and Stella, before the inevitable return of the former candidates. Stella chose Jo, Melissa, Christopher and, reluctantly, Paloma while Chris was reunited with Alex, Jamie, Liz and Shippy. Final tasks are always interesting, but when Lord Sugar said this one involved one of the oldest trades in history, those of us with our minds in the gutter thought he was becoming more risqué in his old age. Alas, it was about alcohol production, with each team told to create a new spirit-based drink, film an advert and pitch it. For all his talk of creativity and thinking outside the box, Chris had few ideas. Thankfully he had Alex, that arbiter of cool sophistication, on side, who suggested rum infused with pomegranate (“The hot new fruit”, he declared). So what would Alex call such an exotic blend? “I’ve been going through words I associate with Britain: bulldog, crumpets, God Save the Queen…”Chris thought of names that sounded like dodgy sci-fi films, choosing Prism after flirting with Cube and Trilogy. Stella liked the idea of modernising a traditional drink and invented Urbon, a honey and spice infused bourbon aimed at women. Neither were particularly concerned with the taste of the drink and left that to their underlings. So how to advertise these exciting new drinks? Stella’s original idea was slapped down by the advertising authorities: apparently two 75ml bottles of hard liquor and four shot glasses doesn’t suggest responsible drinking. Chris was more concerned with the exact placement of the pomegranates to actually think of a storyline.With adverts done, it was down to the pitching in front of a room full of experts. Each one was preceded with some unexplained sub-Britain’s Got Talent dance acts that gave Nick plenty to raise his eyebrows over. Chris muttered robotically about how sophisticated and chic his lurid pink drink was while Stella went for some old-fashioned begging. Back to an uncharacteristically calm boardroom where no one had a bad word to say about anyone. Chris and Stella made their final pleas but the winner seemed obvious long before Lord Sugar made his decision. After twelve long weeks, Stella was the victor. Share whatsapp Tags: NULLlast_img read more

RBS surges on talk of asset protection exit

first_img whatsapp whatsapp 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 AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads John Dunne More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA 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.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Show Comments ▼ Sharecenter_img Friday 21 January 2011 6:35 am Royal Bank of Scotland and the Treasury are in talks over RBS’s possible early exit from the government asset protection scheme that insures the bank’s riskiest assets, an industry source said.“Clearly there are talks going on, but it is very early days,” the source said on Friday.The Asset Protection Agency (APA) – which insures £230bn of risky assets held by RBS – was set up in 2009.RBS, the Treasury and the APA declined to comment.Hopes that RBS could leave the scheme earlier than planned lifted shares in the bank, which is 80-percent owned by the state after a taxpayer bailout during the credit crisis, 5.1 per cent to 44.34 pence by 10:40 a.m making it the best-performing stock on the FTSE 100 index.“We see this possibility as positive for RBS in terms of sentiment and in terms of reduced government asset protection scheme insurance payments,” brokerage Oriel Securities said in a research note. Oriel kept a “buy” rating on RBS shares.KEY SUPPORTRBS chief executive Stephen Hester had said the earliest exit from the scheme would be 2012.The source said on Friday uncertainty remained over the timing of an early RBS exit, and the scheme’s insurance cover on RBS’s riskiest “toxic” assets remained vital.“These markets are still very uncertain and you cannot be sure about just how toxic some of those assets are.”As of March 31 last year, £231bn of risky RBS assets were covered by the scheme, for which RBS pays a fee.The cover for those assets operates like a conventional insurance policy. If RBS’s assets fall in value the bank will absorb the first £60bn of losses.Further losses are shared by RBS and the government, with RBS taking ten per cent of the loss and the government 90 per cent. Tags: NULL RBS surges on talk of asset protection exit last_img read more

DAVOS: A UNIQUE OPPORTUNITY TO SHARE NEW IDEAS

first_img GROUP CHIEF EXECUTIVE, AVIVAATTENDING the annual World Economic Forum at Davos is a privilege. Why am I going, and what do I hope to get out of it?The great thing about Davos – but also a frustration – is that there just aren’t enough hours in the day to talk to all the delegates you might want to. Presidents, prime ministers, chief executives, senior officials, heads of universities and charities – leaders from around the world sit in conference rooms and auditoria, debating some of the most important questions of our time. This might all sound a bit grand. It really isn’t. Indeed: one of the unspoken rules at Davos is that you have to participate actively and do so without displaying too much ego. This is not about pushing commercial agendas. You are invited, yes, to represent your business and your industry, but more importantly to make a constructive contribution. It is a time to consider new thinking and practical solutions that we can all take away with us.I will particularly look forward, of course, to discussions on the financial services industries, on the question of regulation, and sustainability. I also want to see a discussion on the broader role that insurers play in society – particularly the part we can play working in partnership with governments to contribute to future prosperity and help tackle the shortfall in people’s provision for retirement. We’re committed to playing a full part in that debate.In both public and private sessions, colleagues from my sector and further afield will be able to share thoughts and experiences that should help us all to do a better job in the future. You just don’t get many chances like this to hear from so many well-informed people at the same time. I am in for a few very long but very interesting days.Davos tweets …@VivianeRedingEU 7.18pm#EU generates 25% of the world economy. It is important #EU has a strong voice in #WEF. As VP of the European Commission, I’ll be in #[email protected] 7.30pmDavos conference still doesn’t have enough female attendees http://huff.to/eemBaa #[email protected] 7.49pmWhat do the SOTU Address, Davos, and the price of wheat have in common? They’re all things you need to know about now! http://ow.ly/[email protected] 7.57pmDon’t worry over at Davos they have the solution for all our debt problems. Simple: $100trillion more debt! @wef Monday 24 January 2011 8:15 pm Show Comments ▼ More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Share whatsapp whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads KCS-content DAVOS: A UNIQUE OPPORTUNITY TO SHARE NEW IDEAS Tags: NULLlast_img read more

It’s going to take more than €20bn

first_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia SPAIN is running out of time to rescue its ailing banking sector. That’s why we expected economy minister Elena Salgado to come up with a recapitalisation plan that went the whole hog. But the €20bn package outlined late on Monday night is simply too small: it is little wonder that Spanish banks fell across the board yesterday, as investors digested the government’s mealy-mouthed policy response. Analysts at RBS reckon the real cost of recapitalising the Spanish banks is around €50bn, on top of the €14bn already committed by the state-backed Fund for Orderly Bank Restructuring (FROB).For Spain’s domestic-only banks, the situation looks dire. Based on the assumption that the banks will be stressed according to the parameters set by the 2009 US Federal Reserve test, RBS says that Banesto needs an extra €5.7bn to withstand a financial shock in 2011. That is a staggering 127 per cent of its market capitalisation. Bankinter needs €2.7bn (117 per cent of its market cap); Popular €7bn (110 per cent); and Sabadell €5.3bn (102 per cent). Things are markedly better for the more diversified banks, Santander and BBVA, which need an extra €17bn and €10.4bn respectively – less than a quarter of their market cap. Of course, these estimates show just how inept the Spanish government’s plan is, even if it does go some way towards higher capital levels in the banking sector. Investors should sell off Spanish banks while they can. whatsapp Show Comments ▼ Tuesday 25 January 2011 9:01 pmcenter_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULL Share It’s going to take more than €20bn whatsapplast_img read more