City’s small businesses are crying out for help

first_img whatsapp Thursday 14 October 2010 9:17 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Worryingly for the City of London, more than 4,200 of these struggling companies are based in the Square Mile and include small businesses supplying services such as cleaning, office equipment and secretaries. While the statistics don’t directly affect the big banks, fund managers and insurance companies, the amount of debt sitting as an asset on the balance sheets of lenders and creditors should be a cause for concern. And it’s worth bearing in mind those struggling are the small, independent retailers, the dry cleaners, the florists – the clusters of small businesses that go to give our City streets their colour and stop them becoming a bland, sterile environment devoid of real life and quality services.“No company is an island,” says Nick Hood, partner at Begbies Traynor. “Individuals having problems means suppliers, banks and other stakeholders have all got problems as well as there’s a hole in their financial positions.” Of course, not all these firms will go bust but that debt remains at risk. Fortunately many thousands of struggling companies will be winners and emerge from the slump because they recognised their problems early, have reached out for professional help and have been realistic about the difficulties they face.Hood says restructuring experts have been approached by bankers seeking out help for their debtors, directors who recognise their companies need help, and creditors seeking assistance. “The problem is they never seek help early enough,” Hood says.Other companies will escape the rot having made informal arrangements with their creditors behind the scenes.Begbies Traynor urges those businesses to formalise such arrangements, as they’re not currently legally binding, while creditors remain more sympathetic or risk harsher terms or adverse actions in the future.With the Comprehensive Spending Review just days away, City-facing businesses that find themselves struggling need to take action [email protected] More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.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.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Show Comments ▼ IT IS a known fact that when recession strikes there is a lag between companies beginning to feel the pain and actually getting into real difficulties. This time around it is no different and, with just days to go until the Comprehensive Spending Review is unveiled, many UK businesses that are already struggling are hoping the cuts don’t finish them off.Begbies Traynor’s latest Red Flag research for the third quarter of 2010 shows there are high levels of distress with more than 123,000 companies facing significant or critical levels of distress. Collectively they owe £57.5bn to creditors, suppliers and service providers. This represents a significant risk to the continued recovery of the UK economy. Share whatsapp City’s small businesses are crying out for help KCS-content Tags: NULLlast_img read more

WAS CAMERON RIGHT TO BRING UP CHINA’S HUMAN RIGHTS RECORD ONLY IN PRIVATE?

first_imgWednesday 10 November 2010 8:26 pm Share AMMAR DAKER | FDM GROUP“The focus of the visit is the economy and it’s not really for the UK?to interfere with internal issues on human rights. It’s their issue. We can disagree but we can’t change it and if we put a lot of pressure on them, it might affect our relationship.” FRANK MAASSEN | SUN EUROPEAN PARTNERS“It’s a difficult question. He could have been more straightforward and expressed his views. There’s limited downside for British interests if he had been straightforward and he could have found the right words to raise it effectively.”MITESH PATEL | QBE INSURANCE“From a human rights perspective, it’s the wrong approach because he’s not mentioning China’s record. But from an economic point of view, he’s dodging a bullet and they secured quite a few good contracts.” whatsapp 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 Show Comments ▼center_img whatsapp KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solution WAS CAMERON RIGHT TO BRING UP CHINA’S HUMAN RIGHTS RECORD ONLY IN PRIVATE? Tags: NULLlast_img read more

Desire presses on with drilling in Falkland Isles

first_img Desire presses on with drilling in Falkland Isles KCS-content Share Show Comments ▼ FALKLAND Islands oil explorer Desire Petroleum has started drilling a new well after suffering disappointment with its last attempt to strike oil in the South Atlantic.Desire has begun drilling its Dawn/Jacinta 25/5-1 well in the North Falkland Basin.The group said it expected to take about a month to drill the well and would make more announcements when appropriate.The group’s shares soared and then tumbled earlier this month after it said it thought it had struck oil at its Rachel North well, only to have to announce later that the well contained mainly water.Desire said it had learned lessons from the failed well and would press ahead with more exploration.The group started the new well in its wholly-owned Tranche I in the North Falkland basin on Saturday.Once finished, Desire will hand over the Ocean Guardian rig to another explorer, Rockhopper, which will use it before returning it to Desire to drill a well at a location still to be decided. Controversy has dogged drilling by Desire and other UK oil firms amid opposition to their operations from the Argentinian government. Tags: NULL,Monday 20 December 2010 7:16 pm Desire presses on with drilling in Falkland Isles Monday 20 December 2010 7:16 pm whatsapp Share More From Our Partners Native 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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Tags: NULL whatsapp FALKLAND Islands oil explorer Desire Petroleum has started drilling a new well after suffering disappointment with its last attempt to strike oil in the South Atlantic.Desire has begun drilling its Dawn/Jacinta 25/5-1 well in the North Falkland Basin.The group said it expected to take about a month to drill the well and would make more announcements when appropriate.The group’s shares soared and then tumbled earlier this month after it said it thought it had struck oil at its Rachel North well, only to have to announce later that the well contained mainly water.Desire said it had learned lessons from the failed well and would press ahead with more exploration.The group started the new well in its wholly-owned Tranche I in the North Falkland basin on Saturday.Once finished, Desire will hand over the Ocean Guardian rig to another explorer, Rockhopper, which will use it before returning it to Desire to drill a well at a location still to be decided. Controversy has dogged drilling by Desire and other UK oil firms amid opposition to their operations from the Argentinian government. whatsapp KCS-content whatsapplast_img read more

Russia tycoon creates new potash giant

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem A RUSSIAN billionaire moved yesterday to create the world’s second-largest potash miner by uniting Russia’s top two producers, Uralkali and Silvinit, in a $1.4bn (£900m) deal.Uralkali, which like Silvinit is effectively controlled by Russian mining-to-banking tycoon Suleiman Kerimov, offered to buy rival Silvinit for cash and shares.Uralkali’s offer for 20 per cent of Silvinit, or 1.57m ordinary shares is at $894.5 per share, which compares with the $940 price on Moscow’s dollar-denominated RTS exchange. The total cash price would be $1.4bn, both firms said.The merger of the two companies will then be completed through a share swap.Shares in Silvinit fell nine per cent in Moscow on the news, while Uralkali stock added around two per cent.Analysts at Uralsib estimated that the deal valued Silvinit at a 35 per cent discount to Uralkali. They said it was far from a merger of equals.“They [the terms] don’t look very good for Silvinit, it values the business at about 40 per cent discount to Uralkali… That’s in the interest of Uralkali shareholders,” said Bob Kommers, analyst at Deutsche Bank.“They are buying a similar asset at a significant discount, which is very attractive [for Uralkali]. There are some operational synergies, which are in line with our estimates. Those are the main benefits.”Uralkali said the deal had already gained the support of 53 per cent of its ordinary shareholders and from 67 per cent of Silvinit’s. FAST FACTS | URALAKI / SILVINITThe new company will be one of the largest potash makers in the world, second only to  Canada’s PotashThe new company will have a market capitalisation of around $24bn (£15.5bn) Show Comments ▼ Share Monday 20 December 2010 7:27 pm whatsapp Tags: NULLcenter_img whatsapp Russia tycoon creates new potash giant More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comConnecticut man dies after crashing Harley into live bearnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com KCS-content last_img read more

Europe warns of pain for Allied Irish creditors

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem whatsapp Europe warns of pain for Allied Irish creditors whatsapp Show Comments ▼ ALLIED IRISH BANKS’ junior bondholders will have to take a big hit in a future restructuring, the European Commission has warned when approving billions of euros in state aid for Irish banks.Brussels’ threat triggered a fall in Irish sovereign debt, stoking fears the ongoing financial crisis means more pain including the spectre of forced discounts for investors, despite an €85bn (£72.5bn) EU/IMF bailout.“With regard to Allied Irish Banks, the final decision will depend on the Commission being satisfied (it) will be commercially viable in the long term without further injections of taxpayers’ money (and)…that there is a significant contribution by the bank’s shareholders and subordinated debtholders,” the Commission said in a statement.Years of reckless lending brought Ireland’s banks to the brink of collapse, forcing the government to seek emergency aid and requiring Irish people to endure years of cutbacks and tax increases in return.“What we’ve had in the last few weeks is evidence that there will be a forced restructuring of the subordinated debt – the fear is, of course, someone has to pay,” said Steven Major, global head of fixed income research at HSBC in London.With a parliamentary election looming early next year, Prime Minister Brian Cowen wants junior bondholders in the banks to shoulder some of the cost of propping up the industry and ease the burden on angry voters.But legislation allowing the government to impose losses on subordinated bondholders could face a possible constitutional veto if the country’s president decides to refer the law to the Supreme Court.The controversial bill gives the state wide-ranging powers to restructure the banking industry. But its scope has raised objections from the European Central Bank and opposition politicians, who warn it will make Finance Minister Brian Lenihan a “one-man legislature”.“It looks likely that President McAleese will send the bill to the Supreme Court,” said Fergal O’Leary, head of capital markets at Glas Securities. “I would say there is a market expectation the Supreme Court might very well turn it down.”If McAleese decides to refer the legislation to the Supreme Court it could delay government plans for junior creditors in Irish banks to swallow losses as agreed under the bailout.The premium investors demand to hold Irish debt over benchmark German bunds widened 32 basis points to 622 basis points today.Ireland’s bailout will cover its sovereign funding requirements for the next three years and provides €35bn in additional capital for the banking sector. Sharecenter_img alison.lock More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden 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.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘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.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Tuesday 21 December 2010 1:54 pm Tags: NULLlast_img read more

Alexon warns on profits as the big freeze hits its sales

first_img whatsapp Alexon warns on profits as the big freeze hits its sales WOMENSWEAR retailer Alexon yesterday said the UK’s big freeze had hurt the past three weeks’ trading and could wipe up to £1.5m off its full-year profit forecast.The retailer said sales fell 19.9 per cent for the three weeks to 18 December in stores open for more than a year – leaving it with a 4.7 per cent like-for-like sales decline for the full-year.Between 40 and 60 of its 990 stores were forced to close in each of the three weeks, while its older customer base had simply stayed at home, its trading update said.The profit warning due to snow follows similar warnings from fellow retailers HMV, Game Group and JJB.The revenue slump could also cause Alexon to breach a bank debt covenant agreement.The news is fresh concern for Alexon after it finally stabilised trading in November, following a prolonged contraction and a major sales slump due to snow in January.Alexon’s shares have lost more than half their value this year and yesterday closed 20 per cent lower at about 12.25p.Analysts, which had forecast a consensus £2.8m full-year pre tax profit, downgraded expectations to between £1.5m and a loss. Philip Dorgan, an analyst at Altium Securities, described Alexon as the “the first casualty of Christmas.” He said he downgraded the retailer from a £2.6m full-year profit to an £0.8m loss after seeing it both start and end this calendar year with a profit warning.Seymour Pierce analyst Kate Calvert said the news showed how highly geared Alexon was. “Small changes can have a big impact,” she said. Brewin analyst Michael Vassello said Alexon’s new clothing collections were performing well. He forecast £1.3m full-year 2011 profit and £3.5m profit in 2012 but warned it had missed valuable Christmas sales. whatsapp Show Comments ▼ Share Tags: NULL Tuesday 21 December 2010 8:30 pm Read This Next’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 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 ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof KCS-content last_img read more

Sony dismisses doubts over the future of 3D television

first_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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof KCS-content Tags: NULL whatsapp Sony was among a raft of top electronics firms to place 3D technology at the forefront of its growth plans at the Consumer Electronics Show in Las Vegas yesterday, writes Steve Dinneen.The Japanese firm showcased its new flagship range of 3D TVs, promising the format will change the way people watch video content.Chairman and president Sir Howard Stringer said his firm will “aggressively” pursue 3D, dismissing doubts about the long-term future of the format.He said: “People greeted colour and HD with scepticism. We will prevail with this technology.”Sony Electronics president Phil Molyneux added: “Sony is and will continue to be the leader in 3D TV. We will bring an even greater amount of content to our range of connected TVs.” In all, 27 new Bravia TVs will launch in 2011.The firm also unveiled 3D camcorders and digital cameras it says will help bring the format to the mainstream.Panasonic also placed 3D at the heart of its new product range. The firm predicts a staggering 32 per cent of TV sales will be in 3D by 2014, and launched five new TVs offering the platform.Panasonic consumer electronics president Shiro Kitajima told the Consumer Electronics show audience 3D will change the way we watch TV. He said: “At one time you sat in front of your TV but it is becoming a much more interactive experience.Both Panasonic and Samsung have also developed a new range of lightweight 3D glasses they hope will help remove the stigma of wearing bulky eyewear to enjoy TV. Thursday 6 January 2011 8:32 pm Share whatsapp Sony dismisses doubts over the future of 3D television last_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_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 ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Monday 10 January 2011 7:32 pm CITY MOVES | WHO’S SWITCHING JOBS whatsapp Tags: NULL Sharecenter_img KCS-content KPMGBob Pringle (pictured), has been appointed head of equity capital markets at KPMG, joining the company from Hoare Govett. In addition, the company has hired Jonathan Coddington and James Murray as partners. Coddington moves over from Hawkpoint and will be working on KPMG’s healthcare deals team, while Murray comes to the firm from Rothschild and will be concentrating on consumer mergers and acquisitions.SEIThe fiduciary manager has increased the size of its institutional investment team with the hire of Geoffrey Randells as client investment strategist for Europe, the Middle East and Africa. He will be based in London and reporting to Terry Gerlich, who is based in the US.Randells has spent five years at KBC Asset Management and has previously worked at Philips, Hager & North as well as CIN Management. At SEI he will be focused on institutional clients.White & CaseThe law firm has increased its cross-border English law mergers and acquisitions team with Gavin Weir. He joins the firm from Simmons and Simmons, where he has been a partner for nearly five years.His speciality is advising on international and domestic M&A, takeovers, auctions and corporate governance.ThreadneedleThe asset manager has appointed Irina Miklavchich as a fund manager in global emerging market equities. She will join the Asia ex Japan team, headed by Vanessa Donegan. She joins the company from Goldman Sachs, where she was an executive director in principle strategies. SecondcapThe creators of SecondaryNet, the private equity online marketplace, has hired Christopher Godfrey as head of business development. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp Show Comments ▼last_img read more

Shares might be too hot to handle

first_img KCS-content Tags: NULL whatsapp Share whatsapp Tuesday 1 February 2011 8:55 pmcenter_img Show Comments ▼ IT is hard to find fault with ARM’s results, which beat expectations on just about every count. Revenues of $180m (£112m) were nine per cent ahead of consensus; ebit margins of 41.1 per cent were higher than the expected 39.4 per cent; and adjusted EPS was 2.9p, 27 per cent ahead of consensus at 2.28p.The outlook is also looking good. ARM’s order backlog – a key measure of its future prospects – was up 35 per cent quarter-on-quarter in the last three months of the year. While it is hard to argue with ARM’s performance, the investment case is less clear cut. Several analysts might have nudged up their guidance yesterday, but the stock already trades on around 51.7 times estimated earnings in 2011. That is a stratospheric valuation which is almost impossible to justify on the current facts. The valuation is based on hugely optimistic assumptions about compound growth over the next decade or so. The bulls’ argument goes like this. The number of devices that carry an ARM chip is growing exponentially; virtually every household appliance from washing machine to clock radio now contains a microchip. And the number of ARM chips in mobile phones is also growing fast, hitting 2.5 in 2010 compared to 1.5 four years earlier. The bears still wince at the P/E ratio and it’s easy to see why. No one is doubting how hot ARM is, but its stock should be handled with care. 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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBe20 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 Shares might be too hot to handle Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Prooflast_img read more

Interest rates will be going up soon

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Interest rates will be going up soon whatsapp Share More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.com Monday 7 February 2011 9:37 pmcenter_img KCS-content HIGHER interest rates are on the way: that is the lesson from this morning’s strong January retail sales survey, the latest of a batch of statistics suggesting the economy bounced back in January. Even before today, markets were already pricing in a 100 per cent chance of a 0.25 per cent rate hike in May, with short-dated swaps attributing a 20 per cent chance of a hike on Thursday. We shall soon find out. I regularly encounter two related objections to raising the Bank of England’s short-term rates from their current, ridiculously low 0.5 per cent. Many argue that our elevated rates of inflation come either from higher tax or from higher commodity prices – and therefore are either not “real” or are out of the Bank’s control. Let’s take these points in turn. CPI-CT and CPIY, which supposedly strip out the effect of tax, are running at just 1.9 per cent and two per cent. But these esoteric measures are calculated on the assumption that indirect tax hikes are passed on in full to consumers. This is nonsense. Pass-through was only one-third after the 2008 VAT cut. Assuming that one-half of the increase in indirect taxes last year was reflected in the prices charged to consumers, Henderson calculates that inflation would now be 2.8 per cent had tax rates remained stable – still too high.What about commodities? UK inflation is much higher than elsewhere, even though most countries are facing the same supply shock (dubbed cost-push inflation by some). The reason why the Bank is tasked with keeping inflation at around two per cent a year is that it has much greater powers over average prices than many people realise. It can’t stop individual prices – such as wheat – from shooting up – or others– such as the cost of computers – from collapsing. But it has a huge influence over the average price in the economy. This is because it can vary the total amount of demand in the economy; in turn, this is because it can largely determine the overall amount of money. That is why Milton Friedman said that inflation is always a monetary phenomenon: he meant that it is always in the power of the central bank to create or to stop inflation using its control of the printing press, short-term interest rates (and in some countries) its powers to force banks to hold more or less capital.Higher commodity prices don’t automatically lead to increases in the overall, average price level: this only happens if the Bank of England doesn’t adjust demand to compensate. Regardless of oil and commodity prices, a disastrous bout of deflation could be generated in a matter of months were the Bank to suddenly sell tens of billions of pounds worth of gilts, sucking out pounds from the economy and slashing aggregate demand. Alternatively, the Bank could trigger hyperinflation by crediting every single bank account in the country with an extra £100,000 – as consumers rush out to buy goods, services and assets, prices would jump almost instantaneously. Manipulating “demand-pull” forces can cancel out “cost-push” pressures – the claim that the Bank can’t control inflation in the current climate doesn’t stand up to scrutiny. Those who don’t want higher rates should be arguing for the Bank’s target to be scrapped – not claiming that it has no power over inflation. Ultimately, all of this is academic. Interest rates are going up, and rightly so. It is just a matter of when, not if. [email protected] me on Twitter: @allisterheath Show Comments ▼ whatsapp Tags: NULLlast_img read more