Coalition under fire over City regulation

first_img whatsapp Show Comments ▼ whatsapp Sunday 22 August 2010 10:38 pm PRESSURE is mounting on the government to rethink the details of its plans to transform the financial regulatory structure in the UK, which senior bankers have warned could close off avenues for discussion between regulators and the industry.Of particular concern to the banks is the new Prudential Regulation Authority (PRA), which will answer only to the Bank of England and will not be required to hold an annual meeting or host regular consultation sessions with leading members of the industry.“It is very noticeable that the necessary consultation between the PRA and others is not there when it comes to rule changes,” one source said yesterday.Others warned that the second new regulatory body, the Consumer Protection and Markets Authority (CPMA), does not go far enough in acknowledging the importance of a coherent system of market regulation, despite it broadly replicating current practices in terms of consulting with the industry. Angela Knight, chief executive of the British Bankers’ Association, said: “It’s clear that further work needs to be done on both the openness of the PRA and on recognition by the CPMA of the importance of regulating the UK markets, which are some of the deepest and most liquid in the world.”Chancellor George Osborne revealed the sweeping plans for regulatory change in June, abolishing the tripartite system and handing Bank of England governor Mervyn King responsibility for maintaining the overall stability of the financial system. Hector Sants, who had said he would step down as Financial Services Authority chief executive, will now assume the top job at the PRA. Coalition under fire over City regulation Tags: NULL KCS-content More From Our Partners Brave 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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Sharelast_img read more

RTL: Five should make a profit later this year

first_imgWednesday 25 August 2010 8:11 pm 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.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com KCS-content Tags: NULL RTL: Five should make a profit later this year whatsappcenter_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Former Five owner RTL expects the loss-making broadcaster to swing back into profit this year, despite clocking a first half loss of €49m (£40m) on the channel.The venture was sold to Express owner Richard Desmond last month for £103.5m. Its operating loss was just €6m but RTL wrote down a further €36m before offloading it.Desmond plans to streamline the operation, with 80 of its 300 staff expected to be out of a job.Among the most high profile leavers is Five chair and chief executive Dawn Airey, who actioned a clause in her contract guaranteeing her a job with RTL if Five was sold. RTL would not comment yesterday on what role Dawn would take with the firm.The news comes as RTL posted revenue growth of 7.5 per cent in its first half, with advertising income finally beginning to pick up.This allowed the media giant to swing to a profit of €257m, a remarkable turnaround after posting losses of €105m the year before.Chief executive Gerhard Zeiler said: “The stronger than expected rebound seen in the Western European TV advertising markets is the result of the overall economic recovery.” Share whatsapplast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_img Show Comments ▼ KCS-content whatsapp Baker & McKenzieThe London office of Baker & McKenzie has expanded its financial services and regulatory practice with the hire of partner Ian Mason, who started at the firm yesterday. Mason, who joins from Barlow Lyde & Gilbert, previously worked in the FSA’s enforcement division as head of the wholesale group. He joins a 20-partner European financial services group and will focus on advising and representing firms and individuals facing enforcement action.Barclays CorporateThe banking group has hired Julian Griffiths as a relationship director in its London real estate team. He will be one of 12 relationship directors, as part of a 44-strong real estate team headed by Fiona Freeman. Prior to his appointment, Griffiths spent eight years at RBS working for the global banking and markets division in London and New York, and he has also worked for Societe Generale. He started his career at Barclays in 1992 when he joined the graduate scheme, before moving into real estate in 1994. Collins StewartThe wealth manager has appointed Christopher Sherwell as a non-executive director of Collins Stewart (Channel Islands) Limited with immediate effect. He has worked as a journalist at the Financial Times and spent time in London and New York as a regional strategist for Smith New Court Securities. He joined Schroders in 1993, becoming managing director of its Channel Islands business in 2000. Sherwell is currently a non-executive director at Goldman Sachs Dynamic Opportunities and Hermes Commodities Umbrella Fund.Frontier Capital ManagementThe investment manager has made several recent promotions and appointments. Andrew Cracknell moves up to become head of intermediary business, focused largely on the UK. He joined Frontier at the start of 2007 and became a partner in 2008. Alex Gaitan becomes portfolio manager of the firm’s new global hedge fund, while Nahed Ennasr has recently joined the company as a senior analyst within the investment team.GartmoreThe fund manager has hired Adam McConkey as head of UK smaller companies, reporting to chief investment officer Dominic Rossi. He joined the firm in 2000 and has over 11 years’ experience in the investment industry. He also holds a PhD in international relations from Loughborough University. McConkey replaces Gervais Williams, who left Gartmore to pursue other interests. Share Wednesday 1 September 2010 7:54 pmcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailAll Things Auto | Search AdsBuick’s New Lineup Is Truly StunningAll Things Auto | Search AdsLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsSmartAnswers.netThis New Volkswagen SUV Is The Car Of Your Dreams.SmartAnswers.netThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save ThousandsThe No Cost Solar ProgramOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Times whatsapp CITY MOVES | WHO’S SWITCHING JOBS More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA 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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.com Tags: NULLlast_img read more

Partners at Magic Circle law firms push rates up

first_imgMonday 20 September 2010 8:56 pm Share Partners at Magic Circle law firms push rates up whatsapp whatsapp Show Comments ▼ HOURLY rates charged by partners at the UK’s elite law firms have soared to £700, according to new research.An annual survey conducted by City costs lawyer, Jim Diamond, shows that rates charged by the top five Magic Circle law firms – Allen & Overy, Clifford Chance, Freshfields Bruckhaus Deringer, Slaughter and May, and Linklaters – have bounced back to pre-recession levels.The legal sector, according to Diamond’s research for The Lawyer magazine, last year saw the biggest drop in hourly rates ever recorded by the legal profession, when Magic Circle firms charged £400 an hour.Meanwhile, the ten largest firms which rank below the Magic Circle, have also seen a sharp spike in hourly rates, as partners charge £600 an hour for their work. Diamond notes that the smaller commercial firms in the UK maintained charge out rates for a second consecutive year in a row. center_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Tags: NULL 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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Prooflast_img read more

Hedge funds forced to drop their fees in wake of meltdown

first_imgTuesday 9 November 2010 7:46 pm Hedge funds forced to drop their fees in wake of meltdown Tags: NULL Share 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 FollowAlphaCuteMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solution Show Comments ▼ center_img whatsapp KCS-content INVESTORS are enjoying more negotiating power than ever before when it comes to investing in hedge funds, putting increasing pressure on managers to lower fees and offer greater liquidity in the wake of the credit crisis, a new survey has shown.Over half of the investors polled for an Ernst & Young report on the industry said they now have more power than before the crisis, while over 40 per cent said they had actually managed to pressure their hedge fund managers to lower management and incentive fees.One in three institutional investors now say they need more liquidity to invest than before Lehman Brothers collapsed in 2008, while three in ten say the maximum lock-up they will accept is now less than before.But the survey showed hedge funds are already proactively addressing investor concerns, with almost 45 per cent of funds surveyed having made changes to fees, liquidity or structure in order to attract new capital.The majority of both hedge fund managers and investors polled agreed that long-term investment performance is the key criterion for selecting a manager. But investors said clarity and consistency of investment philosophy are the next most important factors, contrasting with the view of managers, who picked reputation and recent performance. 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 Wraplast_img read more

G20 moves to defuse tensions over currencies

first_img G20 leaders drew a veil over their economic policy disputes, agreeing to tackle tensions that have raised the spectre of currency wars and giving the nod to countries that have seen huge capital inflows to impose controls.The developed and emerging nations agreed at a summit in Seoul to set vague “indicative guidelines” measuring imbalances between their multi-speed economies but calling a timeout to let tempers cool – left the details to be discussed in the first half of next year.In the final statement of the summit, the group’s fifth since the financial crisis exploded in 2008, the leaders vowed to move towards market-determined exchange rates and shun competitive devaluations.They also agreed that there was a critical, but narrow, window of opportunity to conclude the long-elusive Doha round of trade liberalisation talks launched in 2001.After weeks of verbal jousting, the United States and China sought to bury the hatchet over Beijing’s currency, which Washington says is undervalued, and global risks stoked by the U.S. Federal Reserve printing money to rev up its struggling economy.“Exchange rates must reflect economic realities… Emerging economies need to allow for currencies that are market driven,” U.S. President Barack Obama told a news conference after the communique was agreed.“This is something that I raised with President Hu of China and we will closely watch the appreciation of China’s currency.”The G20’s accord sought to recapture the unity that was forged in crisis two years ago, but deep divides meant the leaders could not venture much beyond what was already agreed by their finance ministers last month.Negotiators had laboured until the early hours of the morning to thrash out an agreement their leaders could all endorse, despite sharp disagreements that were on public display in the days before the meeting.In a departure from earlier statements, the G20 said it would allow emerging market countries with “adequate reserves and increasingly overvalued flexible exchange rates” to use “carefully designed macro-prudential measures.” Tags: NULL More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.com 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 CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory Share whatsappcenter_img Show Comments ▼ John Dunne Friday 12 November 2010 3:58 am G20 moves to defuse tensions over currencies whatsapplast_img read more

MPs join fight for financial education

first_img whatsapp KCS-content Tags: NULL A PARLIAMENTARY lobbying group campaigning for compulsory financial education in schools will launch on 31 January, with the backing of prominent MPs and industry experts. Chaired by Conservative MP Justin Tomlinson, the all-party parliamentary group is attracting widespread support even before its official launch, with more than 70 MPs interested in joining. Tomlinson will be joined at the House of Commons event by Martin Lewis, founder of consumer website MoneySavingExpert.com, and by Wendy van den Hende, chief executive of the Personal finance education group, an independent charity promoting personal finance for students.Momentum has been steadily gaining in City A.M.’s financial literacy campaign, with backing already from both industry groups and educators. Show Comments ▼ 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap MPs join fight for financial education Tuesday 18 January 2011 8:45 pm Share last_img read more

MPs line up to support fiscal education for all

first_img whatsapp Monday 31 January 2011 8:23 pm Share whatsapp 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 ItBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition MPs line up to support fiscal education for all Tags: NULLcenter_img Show Comments ▼ KCS-content 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 ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof MORE than 140 MPs signed up to the first all-party political group (APPG) in support of compulsory financial education in schools yesterday, with members hoping to push the group’s agenda to the forefront of curriculum reform. The APPG was launched by MP Justin Tomlinson with the Personal Finance Education Group (PFeg), and Martin Lewis, founder of moneysavingexpert.com. PFeg chief executive Wendy Van Den Hende said that progress on a government financial literacy programme had been “painfully slow”, and called on MPs to use their influence across all political parties to “campaign and be champions for the cause”. Martin Lewis said the best way to tackle the UK’s financial illiteracy was to start from a young age with personal finance taught in schools. “It’s the cheapest way you’ll ever get it done,” he said. “Far cheaper than more financial regulation.” The APPG will hold its annual meeting on 4 February, and is planning a series of workshops to develop its aims further. last_img read more

Government eyes new levy on non-doms

first_img Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal 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 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 Proof Government eyes new levy on non-doms THE government is considering plans for a fresh crackdown on non-doms, which could see the existing levy extended at the Budget in March. In April 2008, the Labour government introduced a £30,000 annual charge for non-doms who had been living in the UK for seven years or more.Non doms are people resident in the UK but not domiciled here, allowing them to avoid paying UK tax on their foreign earnings, although they do pay UK tax on UK earnings. Treasury sources yesterday confirmed one option under consideration is extending the levy to include non-doms who have been in the UK for less than seven years. In opposition, chancellor George Osborne proposed a levy of £25,000 on all non-doms regardless of how long they had been UK resident.However, City A.M. understands the chancellor is mindful of the fact that a higher or more widely applied levy would not raise a significant amount of revenue, suggesting any change in the regime would be politically rather than economically motivated. One Treasury insider yesterday admitted there were concerns that a higher levy or one that hit more non-doms could dent Britain’s competitiveness by causing an exodus of big-spending millionaires. Official statistics show that the number of people registered as non-doms in the UK fell for the first time in five years in 2008-09 as the rich fled higher taxes and the credit crunch.The data, obtained by a freedom of information request, show that there were 139,000 people registered in the UK as non-doms in 2008-2007, but by the next year that figure had fallen by 16,000, or 11.5 per cent.Experts say that the financial crisis can only account for a small part of the fall, with the majority attributable to the £30,000 annual charge.Critics warned at the time that the rule changes would lead to an exodus of highly mobile millionaires which would cost the UK economy more than it raised in tax receipts.The Treasury says that roughly 5,400 people have opted to pay the £30,000 charge instead of leaving, amounting to revenues of £162m.  Share KCS-content center_img whatsapp Sunday 6 February 2011 10:06 pm whatsapp Tags: NULLlast_img read more

Swedbank plans buyback as it returns to the black

first_img Share whatsapp Tuesday 8 February 2011 9:07 pm Show Comments ▼ Swedbank plans buyback as it returns to the black More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org SWEDISH lender Swedbank set more aggressive targets yesterday for returning money to investors after reporting a bumper fourth quarter, driving its shares higher.The bank was back in the black for the full-year thanks to a recovery in the crisis-hit Baltic market, where heavy loan losses had resulted in a group operating loss of almost 10bn Swedish crowns (£968m) in 2009.Swedbank made an operating profit in the last three months of 2010 of 3.4bn crowns, more than 20 per cent above what analysts had expected.Swedbank will start to return some of that extra capital via a 2.10 crowns a share dividend for last year, more than the two crowns expected by analysts, after skipping payouts for 2009.It also announced a buyback of up to 10 per cent of outstanding shares. whatsapp KCS-content Tags: NULLlast_img read more