Swiss Life’s German unit comes good

first_img Swiss Life’s German unit comes good Share whatsapp KCS-content Wednesday 18 August 2010 7:11 pm Share 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 ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ SWISS Life’s profits nearly doubled in the first half of the year on the back of a strong performance by German subsidiary AWD, allaying fears the insurer could be forced into an embarrassing writedown of AWD’s value.Switzerland’s biggest life insurer also said it was on track to achieve key margin targets for 2012 after deep cost cutting, as it reported a first-half net profit of SwFr269m (£165m).That compares with SwFr139m in 2011 and analyst consensus of around SwFr218m. AWD, a German group of independent financial advisers bought for €1.2bn (£1bn) in 2008, bounced back to an operating profit of €20.4m after losing money in the first half of 2009.Swiss Life’s management has said the costly investment in AWD was crucial to growing sales of Swiss Life products, particularly in the strategically important German market.“The problem child AWD seems to be on the road to recovery,” analysts at private bank Wegelin said.The insurer said its solvency ratio — a measure of assets over liabilities that gives an indication of capital strength — rose to 175 per cent from 165 per cent at the end of the previous quarter, dampening worries about needs for a capital hike under new Swiss regulations. whatsapp Swiss Life’s German unit comes good SWISS Life’s profits nearly doubled in the first half of the year on the back of a strong performance by German subsidiary AWD, allaying fears the insurer could be forced into an embarrassing writedown of AWD’s value.Switzerland’s biggest life insurer also said it was on track to achieve key margin targets for 2012 after deep cost cutting, as it reported a first-half net profit of SwFr269m (£165m).That compares with SwFr139m in 2011 and analyst consensus of around SwFr218m. AWD, a German group of independent financial advisers bought for €1.2bn (£1bn) in 2008, bounced back to an operating profit of €20.4m after losing money in the first half of 2009.Swiss Life’s management has said the costly investment in AWD was crucial to growing sales of Swiss Life products, particularly in the strategically important German market.“The problem child AWD seems to be on the road to recovery,” analysts at private bank Wegelin said.The insurer said its solvency ratio — a measure of assets over liabilities that gives an indication of capital strength — rose to 175 per cent from 165 per cent at the end of the previous quarter, dampening worries about needs for a capital hike under new Swiss regulations. KCS-content Tags: NULL,Wednesday 18 August 2010 7:11 pm whatsapp Tags: NULLlast_img read more

Xstrata pushes ahead to build $4.2bn Peru mine

first_img Xstrata pushes ahead to build $4.2bn Peru mine Xstrata Copper chief executive Charlie Sartain has pushed ahead with the mine even though Peru will hold presidential elections in April and June of next year. Polls indicate a centrist or conservative candidate will win and keep mainstream economic policies in place. The company says Las Bambas will be a world-class mine with initial production of 400,000 tonnes a year of copper in concentrate ANGLO-SWISS miner Xstrata signed a deal with Peru yesterday giving it rights to start building its Las Bambas copper mine, a $4.2bn project president Alan Garcia called “the contract of the century.”Xstrata’s investment is about equal to three per cent of Peru’s gross domestic product and – unlike hundreds of other projects in Peru that have been delayed by local residents worried about pollution or water shortages – Las Bambas has encountered little resistance. Tags: NULL Show Comments ▼ whatsappcenter_img Share whatsapp Thursday 2 September 2010 7:40 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 ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof KCS-content last_img read more

RETAIL BANK OF THE YEAR

first_img Show Comments ▼ whatsapp KCS-content whatsapp LIFE is still hard for banks, especially the high-street variety. One of our list is government-owned, others are engaged in a vicious fight to entice customers with tasty offers, and one is a brave and innovative newcomer. All are fascinating – and well-known – companies in this vital and fast-changing sector. Don’t miss the City event of the year – get online now and book your table for the City A.M. Awards on Thursday 28 October 2010 at Grange St Paul’s Hotel, London EC4. www.CityAMAwards.com. FIRST DIRECTMortgages are the thing that get British bank customers salivating, and First Direct made its claim for a bigger chunk of the UK market at the start of July when it slashed its introductory fee to just £99, something which led to a 40 per cent increase in calls about loans. Its rates are competitive – the most attractive loan is set at just 1.79 per cent above base rate – plus it consistently tops customer satisfaction surveys. HSBCOf all the major UK banks, HSBC arguably emerged from the financial crisis with the least damage to its reputation and balance sheet, even escaping from its US mortgages venture Household relatively unharmed. It used the financial crisis to reposition itself as an Asia-focused bank and has also been extremely aggressive in the UK. It sparked competition in the mortgage market with the launch of a product with an interest-rate of just 1.99 per cent. LLOYDS BANKING GROUPThe black horse came galloping back into profit, to the tune of £1.6bn, in the first half of the year. True, it has been propped up by the tax-payer, but in a competitive market it has bounced back admirably, offering more in loans than customers are taking up, and offering competitive mortgage rates. Customer service is not its strong point, say surveys, but it is ahead of its government-imposed target of lending £44bn to business by 2011.METRO BANKThe first new high-street bank to launch in the UK for 100 years, Metro Bank aims to offer banking customers a “retail” experience. New customers will be able to open accounts in 15 minutes, and there will be free coin-counting machines – not to mention water for dogs. It aims to entice 10 per cent of London’s banking market into the 200 branches it plans to open over the coming decade. The jury’s out on whether it can convince the conservative British public, but this new hope makes it on to the list for sheer entrepreneurial vim.SANTANDERSince it landed on these shores in 2004, the Spanish bank has become a household name, and its red and white will become an even more common sight on the high street following its purchase of 318 branches from RBS earlier this year. Although its so-called “siesta service” has attracted consumers’ ire, its aggressive stance during the banking crisis, snapping up Bradford & Bingley and Alliance & Leicester for knock-down prices, has shown it to be a fleet-footed bank fronted by better business brains than most. center_img Sunday 5 September 2010 10:19 pm Share RETAIL BANK OF THE YEAR Tags: NULLlast_img read more

Accountants hit as FTSE 100 skimps on bills

first_imgMonday 6 September 2010 8:25 pm Show Comments ▼ KCS-content More From Our Partners A 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.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Tags: NULL whatsapp Accountants hit as FTSE 100 skimps on bills whatsapp Share DESPITE increasing fees during 2010, top accountants in the UK have reported a three per cent decline in the amount they collected from FTSE 100 clients, new research shows.During the 2009 to 2010 financial year, FTSE 100 companies paid £891.9m in both audit and non-audit fees, marking a drop from the previous year when clients paid £857m for accountancy services, according to information compiled by Accountancy magazine.The drop off in revenues during the year came despite a 3.7 per cent hike in auditing fees across the big accounting firms.Giants KPMG and Ernst & Young (E&Y) reported a decline in audit income from FTSE 100 clients for the year, the research pointed out. KPMG saw that figure go down by more than four per cent, while E&Y experienced a four per cent fall in revenues from top UK clients.But rivals PricewaterhouseCoopers (PwC) and Deloitte have bucked the trend by reporting a rise in auditing income. Last year, PwC billed its top FTSE 100 clients £245.7m, pushing its total audit income up 10 per cent.Similarly, Deloitte saw auditing revenue rise 4.8 per cent. last_img read more

Diamond is the right man for the job

first_img KCS-content GOOD on Barclays for promoting Bob Diamond, head of the bank’s investment banking unit, to be the firm’s overall chief executive. He is the best man for the job, proving himself again with the successful integration of Lehman’s US operations. Yet given Diamond’s demonisation in the broadcast media and popular press, not least by the likes of Vince Cable and even the prime minister, it was a brave move; it was also a strong statement by one of the few banks that didn’t require a taxpayer bailout that it will do what is best for its global shareholders, rather than pander to vote-hungry, City-hating UK politicians. This is something that ought to reassure markets: shareholders are still nursing big losses from the financial crisis, even from the better managed, non-bailed out firms such as Barclays. As a result of the dominant narrative of the recession, the politics of envy has made a spectacular return. One of the main objections to Diamond’s appointment yesterday was that Barclays’ CEO-designate was too wealthy; apparently, only poor bankers or those willing to work for much lower salaries should be allowed to run banks. But given that taxpayers did not bail his bank out, that part of his fortune comes from his stake in a very successful wealth management arm he helped to build up for Barclays, and that he will be paying vast amounts of tax when he moves back to the UK, it is hard to see what the problem is with Diamond’s wealth. If Barclays’ customers object, they are free to move their business. Barclays, like other banks, has reformed its compensation practices to put emphasis on long-term incentives; there is nothing in Diamond’s new employment contract which will fuel short-term risk.Investment banks are not casinos; and even if they were, critics should remember that the central rule of gambling is that the house always wins. Casinos always make money; they don’t go bust – so in that sense “casino banking” should be a good thing for taxpayers, shareholders and the stability of the banking system. I jest, of course, but the terminology of this debate is truly idiotic. What makes banking dangerous are traditional loans: it is those that go dud and bring down economies, not trading. Another weakness is the mismatch between the duration of assets (loans) and liabilities (bank deposits or money market borrowing) but again this is nothing new. Despite the new-fangled derivatives, this recession was very much like all the others. Sub-prime lending was at the heart of the financial crisis; at its most basic, a traditional form of retail banking gone wrong. Investment bankers repackaged the bad loans; but they only got that opportunity because of stupid, traditional lending decisions.Instead of bashing those who provide huge tax revenues and employ tens of thousands of Londoners, the government ought to focus its attention on 2010’s real financial disgrace: the abysmal failure of HMRC and its computerised pay as you go income tax system to get its sums rights. Around 1.4m people are about to be sent letters demanding £2bn in underpaid tax, courtesy of official incompetence. There ought to be a purge at HMRC, with all top executives losing their jobs. Of course, it won’t happen, just as the officials and central bankers who did so much to fuel the bubble have walked away unscathed. It is high time politicians put their own houses in order, rather than try and chase away successful UK [email protected] Tags: NULL Show Comments ▼ Tuesday 7 September 2010 11:40 pm whatsapp Diamond is the right man for the job Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comlast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_img Share Show Comments ▼ JefferiesThe investment banking group has poached Dominic Lester from rival UBS to head up its European technology and telecoms investment banking team.Lester has been at UBS for almost 20 years, latterly as head of technology investment banking for the EMEA region. He is joined at Jefferies by new senior vice president Daniel Aharoni and vice president Guillaume Taurignan, who also move over from UBS.Religare Capital MarketsThe investment banking group, part of Indian financial services behemoth Religare Enterprises, has hired Jason Todd as its new global head of equity strategy.Todd joins from Morgan Stanley, where he was latterly the firm’s US and global equity strategist, based in New York. He also previously spent 12 years working at JP Morgan, latterly as head of the US and global strategy teams.JP MorganThe bank has appointed Rhian Horgan as head of alternative investments for its private bank, based in London.Horgan joined JP Morgan’s alternative investments team in 2008, advising private clients on the construction of hedge fund, private equity and real estate portfolios.Prior to that, she ran the global equity derivatives business for the private bank and private client services.DC Advisory PartnersThe advisory firm, formerly Close Brothers Corporate Finance, has taken on Tosh Kojima as a managing director and head of the Japan Asia focus group. He joins from Nomura.AllianceBernsteinThe investment manager has hired Tim Banks as head of defined contribution sales. He joins from Prudential, where he was director of business development. Tags: NULL whatsapp Wednesday 8 September 2010 7:58 pm CITY MOVES | WHO’S SWITCHING JOBS center_img whatsapp KCS-content Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanDrivepedia20 Of The Most Underrated Vintage CarsDrivepedialast_img read more

House prices drop nationwide

first_img Show Comments ▼ House prices drop nationwide House prices have fallen across all regions for the first time since April 2009, according to September’s Hometrack survey. The monthly report, published today, reveals average prices dropped by 0.4 per cent to £157,600. London and the South East recorded price drops of 0.4 per cent and 0.5 per cent respectively with London’s average price now £283,000. Housing demand also dropped by 2.9 per cent – the third month it has fallen. The widening gap between supply and demand has also resulted in houses taking longer to sell. Share KCS-content whatsapp Sunday 26 September 2010 10:49 pm whatsapp 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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Tags: NULLlast_img read more

High-end homes drop in price

first_img High-end homes drop in price KCS-content Show Comments ▼ Monday 4 October 2010 8:33 pm 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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More 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 whatsappcenter_img whatsapp Share THE COUNTRY’S most expensive homes have shed 1.5 per cent of their value in the last 12 months, suggesting demand remains low even as supply starts to tail off, according to research out yesterday. The dip has likely been caused by high net worth individuals deciding not to move to the UK, while others are leaving the country, said Prime Location, the property website that commissioned the research. The top 25 per cent of houses lost an average of £7,000 in the year to September, with the average price for a prime home now just over £450,000. This is the biggest fall since January 2009, when Prime Location started tracking prices. Seven of the 11 regions covered by the research saw a fall in adjusted average value, while the other four saw a rise. Homes in London suffered the most dramatic fall, falling 2.4 per cent in the last month alone. The top 25 per cent of homes now cost an average of £1.1m. Welsh homes fell the most in the year, down 5.8 per cent on average to £334,953.Scotland has proved the most resilient, with prime properties increasing 2.2 per cent in the year. Prime Location’s research director Andrew Smith said: “This fall in prices at the top end of the market is particularly interesting because the availability of prime stock has also decreased slightly. “With the rise in the value of sterling, there could be fewer high net worth individuals looking to buy property in the UK from abroad. In addition, the higher income tax level and general economic climate seems to be prompting some wealthier homebuyers to leave the UK and live in countries with more favourable tax regimes.” Tags: NULLlast_img read more

Time to nip next bubble in the bud

first_img KCS-content Time to nip next bubble in the bud Tags: NULL Share REGULAR readers will know that I’m reasonably optimistic when it comes to short-term growth – I believe that the economy will slow to an uncomfortably modest pace over the next few months but that we won’t tip into a double-dip recession. Yesterday’s manufacturing figures, which showed that the recovery in factory production accelerated further in August, with output growing six per cent over the past year, the best performance since 1994, confirmed this view.But whereas the overall UK?economy will continue to grow, albeit at a slowing rate, there are plenty of worrying developments that mean that longer-term prospects are looking increasingly bleak. The first is the continued onslaught on the City, as demonstrated by the EU’s bid to limit bonuses to a certain multiple of base pay. But there are also other, more macroeconomic threats. One that almost keeps me awake at night is the continuing growth in emerging economies’ forex reserves, a trend which shows that central banks have learnt nothing from the boom and bust of the noughties.One of the main drivers of the bubble had nothing to do with bonuses or commercial bankers: it was caused by the fact that Asian and Middle Eastern economies recycled their vast export earnings into huge reserves of dollars, snapping up trillions of dollars worth of government bonds. This helped fund the massive US trade and budget deficits, pushed down yields on all debt and helped to promote the mad credit binge of the noughties. It is a shame that instead of trying to make sure that these vast imbalances – the West spends too much and saves too little, while China deliberately undervalues its currency to boost exports and forex reserves – are tackled, governments have preferred to resort to populist City-bashing.Meanwhile, the imbalances are getting worse, not better, guaranteeing another disaster at some point. The IMF says that the current account surplus of developing Asian economies will reach $731.2bn in 2015. That is 67 per cent more than the 2008 peak, as Societe Generale points out. The US is forecast to have a current account deficit of $600bn, only marginally less than the 2006 peak of over $800bn. This implies that the reserves of these developing Asian countries will surge from an already massive $3.4 trillion in 2010; global reserves may eventually exceed $10 trillion. Most of these will be parked in bonds; while handy for profligate western governments that are racking up ridiculously large budget deficits, the result will once again be to keep interest rates and yields at permanently low levels. Eventually, this is bound to rekindle bubbles across asset classes, including property and in emerging markets, as well as put upwards pressure on consumer price inflation. The answer is not to declare a trade war on China, as short-sighted American politicians are threatening; this would trigger tit-for-tat protectionism and plunge the world into a depressionary spiral. Instead, we must boost savings rates in the West, while negotiating with China to induce it to allow the renminbi to rise gently to a more reasonable level. This would reduce its trade surplus and its accumulation of forex reserves. The best way to make the West less dependent on imported capital would to introduce properly funded retirement schemes. Unless we urgently deal with these issues the next crash, when it inevitably comes, will be truly devastating. [email protected] whatsappcenter_img whatsapp Show Comments ▼ Thursday 7 October 2010 9:47 pmlast_img read more

Fears see Irish bond sell-off

first_img 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.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Centerinvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.com Show Comments ▼ KCS-content Fears see Irish bond sell-off More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKansas coach fired for using N-word toward Black playerthegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPuffer fish snaps a selfie with lucky divernypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Tags: NULL IRELAND came under renewed pressure yesterday as investors remained wary of buying Irish assets after Germany stood firm on its call for bondholders to bear a share of the cost should Dublin need a bailout.The premium investors demanded to hold Irish debt over benchmark German bunds hit new highs extending a month-long climb that has seen Irish borrowing costs repeatedly break records with the yield on Irish 10-year bonds hitting eight per cent for the first time yesterday.European Union (EU) economics commissioner Olli Rehn moved to reassure investors during a two-day visit to Ireland saying he had not discussed any need for an EU bailout, adding he believed market confidence would be restored once the country published its four-year plan to cut debt. “Ireland has not requested the activation of any European financial backstops, we have not discussed this matter this evening. We have discussed the four-year fiscal plan and the next year’s budget,” Rehn told a news conferenceThe Irish emergency budget will be published on 7 December with a pre-Budget report due this week pushed back to later this month by Irish finance minister Brian Lenihan. center_img whatsapp Share whatsapp Monday 8 November 2010 9:58 pmlast_img read more