Jaguar drives on Tata profit

first_img KCS-content Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof Tuesday 10 August 2010 8:33 pm Jaguar drives on Tata profit whatsapp Share Show Comments ▼ whatsapp INDIA’S Tata Motors swept past forecasts with a fourth straight quarterly profit yesterday, driven by demand for its luxury Jaguar and Land Rover brands.The company’s Jaguar and Land Rover unit, which Tata bought from Ford in 2008, is expected to fuel growth in coming quarters as demand for luxury brands increases, particularly in emerging economies. Tata Motors reported a consolidated net profit of 19.89bn rupees (£273m) for the quarter to 30 June, swinging back from a year-ago net loss of 3.29bn rupees. Revenue rose to 270.56bn rupees from 164.73bn rupees last year.The results boosted Tata’s shares to their highest level in at least two decades. Tags: NULLlast_img read more

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Deutsche eyes EU greens

first_img Tags: NULL whatsapp Share Alternative energy investment prospects have shrivelled in the United States after the Senate was unable to break a deadlock over tackling global warming, a Deutsche Bank official said.“You just throw your hands up and say… we’re going to take our money elsewhere,” said Kevin Parker, global head of the bank’s Deutsche Asset Management Division.Parker oversees nearly $700bn (£575bn) in funds that devote $6bn to $7bn to climate change products.Amid so much political uncertainty in the United States, Parker said Deutsche Bank will focus its “green” investment dollars more and more on opportunities in China and Western Europe, where it sees governments providing a more positive environment. whatsapp Wednesday 11 August 2010 8:22 pm KCS-content 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.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.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com Deutsche eyes EU greens Show Comments ▼last_img read more

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Gartmore hit by departure of star trader

first_imgTuesday 17 August 2010 8:16 pm Tags: NULL GARTMORE’S chief executive yesterday insisted that his firm has put the sticky matter of star manager Guillaume Rambourg’s suspension and subsequent resignation behind it, despite suffering heavy outflows of investor cash over the first half of the year.Gartmore saw its assets under management dip by 10 per cent to £19.9bn over the six months to end of June, while net new business outflows over the period stood at £1.65bn.Chief executive Jeffrey Meyer admitted that the investigation into Rambourg’s conduct had been the primary driver behind the outflows, but said that the fallout from the affair had peaked.“Our business was doing very well in the first quarter, when we were executing the strategy we set out at the time of our IPO,” Meyer said. “We then had to hit the reset button in April, but the issue is now behind us and we are looking forward to regaining our momentum.”But Gartmore admitted it has seen continuing redemptions since the end of the period, with net outflows of £238m in July. £67m had been pulled from its alternative funds business as of 2 August, while the group has already received notices of £223m of redemptions on 1 September.Gartmore posted a 35.7 per cent year-on-year increase in net revenue for the first half, to £113.2m, though pre-tax profit halved to £25.8m.Meyer is pessimistic about an improvement in the volatile economic climate, predicting the Eurozone turmoil will shift to the US over the second half due to rising unemployment and tepid consumer spending.But he said Gartmore would press ahead regardless with a hiring drive, aiming to poach new investment teams, particularly in the US equity long/short arena. Show Comments ▼ Share Gartmore hit by departure of star trader center_img whatsapp whatsapp KCS-content More From Our Partners Brave 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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoinvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndolast_img read more

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HSBC says Geoghegan did not threaten to quit

first_img whatsapp Show Comments ▼ KCS-content HSBC says Geoghegan did not threaten to quit HSBC dismissed suggestions its chief executive Michael Geoghegan threatened to quit unless he was elevated to the role of chairman.The firm branded the speculation “offensive”, saying Geoghegan, who has been at the bank 37 years, has no intention of stepping down.A spokesman said: “It is nonsense that Mike threatened to resign unless he was appointed chairman. “The suggestion is offensive to both him and the company. As previously stated, the board is working under due process to finalise HSBC’s succession plan following Stephen Green’s already-announced departure and this proceeds in line with the scheduled timetable.”Outgoing chairman Stephen Green will quit the firm in January to take up a full-time government role as trade and investment minister. Tags: NULL Wednesday 22 September 2010 8:56 pmcenter_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com 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 ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity 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.com whatsapp Sharelast_img read more

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Emerging markets’ illness small but persistent

first_img KCS-content whatsapp Show Comments ▼ whatsapp 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 Tags: NULL FAR BE it for me to ruin your Monday but I am starting to get a bad feeling about emerging markets. Let me put that in context. On a medical scale I would call it more of a slight itch than a life-threatening condition, but it is definitely persistent.EMERGING MARKETS GROWTH SLOWSHSBC knows a thing or two about emerging markets; the bank has just put out an index that says emerging markets economic activity levels have darkened. There is still growth but at a slower pace in the third quarter than previously, with Brazil, Russia and China all reporting falls in growth rates.FITCH DOWNBEAT ON CHINAFitch, the ratings agency, sounded more downbeat on China recently. The fact that ratings agencies did not cover themselves in glory at the height of the US credit boom means that they don’t want to be caught napping on China. Fitch’s central case is that China will grow on average nine per cent annually out to 2012 but it is very aware of the dangers of leverage and a flood of investment.BIG DEMAND FOR MEXICAN BONDTalking of a flood of investment, last week reached new levels of emerging markets craziness when we saw staggering demand for Mexico’s century bond. When I first saw pictures of The World in Dubai, I immediately realised that this must mean we are in a property bubble – building islands shaped like countries set out as a big map of the globe just seemed emblematic of excess. So might lending money to the Mexican government for 100 years for a six per cent yield officially mark the start of a bubble in emerging debt markets?US FED COULD BRING WALL OF CASH And of course a wall of money might be exactly what is on its way. If the US Federal Reserve decides that the US economy needs more quantitative easing in order to create jobs, then the global financial system will soon be even more awash with cash looking for a home. Many money managers have told me that it won’t be loaned to small businesses as the Fed might wish. Instead it will find its way into emerging markets. Of course if you are in this for the long term then maybe none of this really matters. SEEING A BUBBLE DOESN’T BURST ITVery few businesses tell us they know any better place than emerging markets to grow their businesses. And of course it takes more than just identifying a bubble to burst it. Just ask UK home owners who rode the property boom for years before it came apart. Some say we are still in bubble territory here, but that is a topic for another day. Anna Edwards co-anchors Capital Connection and is a presenter on Squawk Box Europe weekdays on CNBC. http://europe.cnbc.com Sunday 10 October 2010 10:39 pm Emerging markets’ illness small but persistent Sharelast_img read more

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BARCAP VICE-CHAIR TO BACK CITY WOMEN IN PLURAL DIRECTOR ROLE

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell 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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Show Comments ▼ Tags: NULL BARCLAYS Capital vice-chairman Gay Huey Evans has long been a trailblazer for women in the Square Mile, but she’ll be even more influential in her advocacy for greater female participation at the top echelons of the City in her new role as a “plural” board director.Huey Evans left BarCap yesterday after a long and distinguished career in banking, spending time at Bankers Trust, the FSA and Citi before joining Barclays in 2008. Having taken a role as a director on the board of the London Stock Exchange earlier this year, she is now looking to take up more board positions. Plans for one financial services company directorship are already in full swing, awaiting the approval of the FSA, and she’ll also be looking to expand her remit into other sectors – including media and pharma.“It was time for a change, but I’m definitely not the type to stay home and play tennis – I’ve got far more energy than that,” the glamorous 56-year-old tells The Capitalist with a chuckle, before launching into an excited précis of her plans to inspire women in the upper echelons of the companies in which she will work.“I feel strongly and passionately about this, and always have done,” Huey Evans says. “Women are great assets for any company, but they have different skills and mindsets to men. The old adage that men are from Mars and women are from Venus still stands – and it’s crucial to understand that for there to be true equality at any company…” Hear, hear.FAMOUS FACESIn the wake of “Wall Street 2: Money Never Sleeps”, another movie spawned by the financial crisis is due to start production shortly – and finally, all of the heros and villains of the piece have been cast.William Hurt had already been cast to play US Treasury secretary Henry Paulson in the silver screen adaptation of Andrew Ross Sorkin’s book Too Big to Fail. He’ll now be joined by a roster of look-a-like stars – including Saving Private Ryan and The Illusionist actor Paul Giamatti as Fed chairman Ben Bernanke; Tony Shalhoub, star of TV series Monk (and the voice of Luigi in cartoon flick “Cars”) as Morgan Stanley boss John Mack; and James Woods, star of Once Upon a Time in America, as Lehman Brothers chief Dick Fuld.Poor Warren Buffett, who also features in the movie, got a bit of a raw deal, though. Playing Buffett is Ed Asner – who’s best known for playing Santa Claus in no fewer than four different movies, including “Elf”. Something for the Sage of Omaha to consider in the future, perhaps?LABOUR OF LOVEA welcome show of support for the City from quite the unlikeliest of corners. Yesterday, Labour MP Gareth Thomas – the shadow higher education and science minister – stood up in the Commons to argue for London’s financial sector and its contribution to the UK economy. In something of a shock move, Thomas dismissed relentless banker-bashing as “a spectator sport” and called for the UK to “re-embrace the City”.“There are a whole series of challenges facing the City, such as the amount of trade that has developed in other international financial centres,” he told City A.M. “Policy makers need to work with the City to maintain its Premier League status. We are one of the top four and we want to stay that way. The City is a very important source of tax revenue; it would be foolish not recognise that.”As part of his conviction, Thomas has mooted the idea of a Royal Commission on the future of London, considering the economic, environmental and populations the city will face in the future – a proposal which has the backing of even less likely Labour figures, such as ultra-left-winger John McDonnell and MPs Heidi Alexander and Stephen Timms, the former financial secretary to Alistair Darling’s Treasury.It’s not clear if the Commission’s backers would go as far as to support all of Thomas’ feelings about the City, but it’s certainly a start.LOYALTY CARDSoftware group Autonomy saw its shares tank again yesterday, with a downgrade note from Deutsche Bank analyst Marc Geall compounding its woes after a profit warning last week.Geall said Autonomy had neglected the need to pre-emptively invest in order to deliver sustained growth, and would now have to either “reset its margin or make a transformational acquisition that carries additional risk” in order to mitigate its mistake.It’s potent stuff, particularly coming from a man who left Autonomy for Deutsche only months ago. Geall was head of corporate strategy and IR at the group, before he resigned his day-to-day responsibilities in April and left to join Deutsche in June.FINE WINEFinally, an opportunity for wine-lovers of the City to pursue their passion while doing their bit for a good cause. As part of the Fine Wine Fair this weekend, the event organisers are holding an online auction on Friday with all the profits from the deluxe and hard-to-find wines going straight to the Help for Heroes military charity. Get your fix at bidforwine.co.uk/helpforheroes. whatsapp KCS-content Share whatsapp Tuesday 12 October 2010 9:00 pm BARCAP VICE-CHAIR TO BACK CITY WOMEN IN PLURAL DIRECTOR ROLE last_img read more

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Astaire Securities sold off to Canada’s Northland Capital Partners for £2.45m

first_img Share EMBATTLED stockbroker Astaire on Friday agreed to divest itself of its main Astaire Securities division for £2.45m, bringing to a close a tumultuous period for the group which included the failed takeover of rival Hoodless Brennan, directors’ resignations and a lawsuit against the firm.Astaire sold the securities unit to Canadian group Northland Capital Partners (NCP) for £2m in cash and £450,000 to be placed into an escrow account against the firm’s continued eligibility for nominated adviser (Nomad) status and against any warranty claims or shortfall in the sale of assets below their book value.Astaire said that a lawsuit by Izodia against Corporate Synergy Holdings (CSH), an intermediate holding company within the group, had damaged staff morale and client relationships, both key to its business. The majority of the £2m cash proceeds from the sale will be retained by CSH pending the outcome of the litigation.Under new owner NCP, Astaire Securities will be renamed and chaired by current head of corporate finance Stuart Lane. It is still adviser and broker to over 40 Aim clients. Tags: NULL whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition center_img KCS-content Sunday 17 October 2010 10:53 pm 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 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 Astaire Securities sold off to Canada’s Northland Capital Partners for £2.45m last_img read more

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A traumatic but necessary cutback

first_imgTuesday 19 October 2010 8:29 pm IT WILL be grim. The Ministry of Justice will lose 14,000 jobs over the next four years. Close to 10,000 will go in the prison and probation system. There will be 42,000 job losses in the military. These form only part of the 490,000 net public sector jobs set to go over the next four years as a result of the Comprehensive Spending Review, to be unveiled today by George Osborne. Some of these will take place via natural wastage; some departments will be asking staff if they want to cut hours and pay. But there will also be involuntary redundancies, inflicting much trauma. Everybody with a heart will be feeling for those about to be chopped.The trouble is that the coalition has no choice but to act; the pain of the next few years would turn into a far greater disaster otherwise. Years of over-spending under Labour, combined with the recession, mean that the public sector is facing its day of reckoning. Government spending is too large for a shrunken private sector to support. There is nothing anybody can do about this reality: the spending cuts are the minimum required to eliminate the structural deficit over the next few years and are being accompanied by painful tax hikes. The situation is precarious: there is no way the UK government could now cope with a secondary crisis, caused for example by a sovereign bankruptcy. whatsapp Share But while the overall reduction in public spending is absolutely right, many of the individual policies are much more debatable. This is especially true of the decision to increase foreign aid, sacrificing the military and prisons. Governments should be concentrating on core functions; yet the reverse seems to be happening in Britain, where we will soon have aircraft carriers devoid of planes. A better restructuring of the way services are delivered could preserve value- adding, frontline jobs while reducing back-office, administrative functions. Unfortunately, producer interests continue to dominate departmental thinking; and the easiest cuts are being made, rather the right ones. There is one key way in which the job losses should be put into context. Private firms were forced to go through a nasty process of shrinkage during the recession; and even in these slightly better times thousands of people are being made redundant weekly. No fewer than 143,000 people were made redundant in the three months to August, nearly all in the private sector. The redundancy rate was 5.8 per 1,000 employees, down 2.7 from a year earlier. These sorts of rates have long been the norm in the private sector – yet while some of the bigger layoffs are reported, we don’t see these aggregates splashed on front pages every quarter when they are published by the Office for National Statistics. This is for good reason: even more jobs tend to be created than are destroyed. That is how capitalism works; the public sector is now being confronted with a much harsher and precarious reality that the rest of us have had to face all of our lives. The good news is that total employment is growing again, reaching 29.158m in June-August, up 315,000 from a trough of 28,843m in December-February. Private sector jobs grew at an even faster rate of 361,000, compensating for 46,000 public sector job cuts. As long as this continues, most of the public sector workers who will lose their jobs ought to be able to find alternative work. That, at least, is what we must all hope ahead of today’s traumatic announcements. Show Comments ▼ 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 whatsapp A traumatic but necessary cutback KCS-content Tags: NULLlast_img read more

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Lord Sugar gives apprentices his shopping list

first_img Show Comments ▼ whatsapp whatsapp A HEAVENLY start to this week’s Apprentice. The final seven gathered on top of Tower 42 and as the morning light bathed Lord Sugar in an ethereal glow, a chorus of angels could be heard. Quite what this had to do with getting chicken feet on the cheap wasn’t clear.This was the wheeling and dealing challenge. No elaborate pitches or marketing bombast to hide behind, just good old fashioned haggling and it was boys against the girls. Given a list of ten items, the candidates had to find everything from a Singer sewing machine to a white truffle.SELLING TRUFFLES “Truffle? That’s the food, isn’t it?” asked Jamie. He wasn’t waiting to find out: his tactic was to hit the streets immediately, with him working alone and Chris and Stuart working as a double act.Liz, leading Apollo, took a more measured approach, working out what each item was and where best to find it. Not that this filtered down to the rest of the team. Trying to sniff out the elusive truffle, Stella thought she’d call up Marco Pierre White’s restaurant and see if he could help. Sadly, Marco wasn’t available. Not to worry, she’d try Gordon Ramsay. That’s the spirit.Despite this, the girls did well, getting all 10 items with relative ease. The boys had more trouble. Jamie in particular had a stressful day. After trawling jewellery shops he finally found out what a 22 carat gold tikka was before spending hours tracking down a four-metre worktop surface. Man hasn’t hunted this monomaniacally since Moby Dick. CHRIS’ AM DRAMMeanwhile, Chris went in for a bit of amateur dramatics. To get a good deal he spun a variety of tales involving a tartan-loving gran in need of a wedding present and a taxi-driver brother about to fail his exams. Incidentally if you’re looking for a business investment, Chris is good friends with a Nigerian prince.But despite their haphazard style and incomplete shopping trolley, the boys still won and no one was as shocked as they were. With the girls back in the boardroom, it all came down to that truffle, finally bought by Laura and Stella from a Knightsbridge restaurant. Needless to say they didn’t pay cost price. Lord Sugar made his decision and this time there was no room for haggling. Laura, you’re fired. KCS-content center_img Share Wednesday 1 December 2010 7:24 pm Lord Sugar gives apprentices his shopping list Tags: NULLlast_img read more

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US could bring lawsuits against 109 bank staff

first_img US BANKING regulators have authorised lawsuits against 109 bank officials so far as they seek to recover at least $2.5bn (£1.6bn) in losses connected to recent bank failures. The Federal Deposit Insurance Corp said yesterday the suits target bank directors and officers for “either gross or simple negligence”. It is seeking to recoup money for its deposit insurance fund, which backs customer accounts. It is the first time the FDIC has published the number of bankers facing legal action.The regulator’s website will be updated monthly with a running tally of the amount of lawsuits authorised and how much the agency is seeking to recover. So far, however, the FDIC has only filed suits against directors and officers from two banks.In November, the agency sued former executives of Heritage Community Bank of Illinois. When the bank failed in February 2009, the FDIC estimated it would cost the insurance fund $41.6m.In 2010, 157 banks with total assets of $92bn failed. FDIC chairman Sheila Bair has said the agency expects the number of failures to drop in 2011. whatsapp Tags: NULL KCS-content Tuesday 4 January 2011 8:31 pm Share US could bring lawsuits against 109 bank staff 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 Show Comments ▼ whatsapplast_img read more

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