Retail sales slip as spending cuts loom

first_img Retail sales slip as spending cuts loom 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 Show Comments ▼ More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org John Dunne Sharecenter_img whatsapp Retail sales volumes fell last month for the first time since January, in a sign that consumer demand may be slipping ahead of planned government spending cuts, official data showed.The Office for National Statistics said sales volumes fell 0.5 per cent last month, and revised July’s sales growth down to 0.8 per cent from 1.1 per cent.On the year, retail sales volumes rose just 0.4 per cent – only a fifth of the two per cent that analysts had forecast. July’s annual growth was also revised lower.The ONS said that July’s revisions were amplified because of its annual rebasing of the sales index as well as a review of its seasonal adjustment of the data, which came on top of standard revisions as retailers sent in late sales data.Falls in sales were broad-based, with declines in food, fuel, clothing and household goods.One bright spot for the Bank of England – which is worried about above-target inflation – was a fall in the retail sales deflator to 1.5 per cent, its lowest since November.The fall follows several months of surprisingly strong growth, though some sentiment surveys have been pointing to a weakening of consumer demand ahead of cuts of around 25 per cent to the budgets of most government departments, which are likely to push up public sector unemployment.Although results of retailers have generally started to improve following the recession, many experts think the sector faces a harsh winter as the government cuts spending and raises taxes to rein in a record public deficit.Howard Archer of Global Insight said: “The unexpected 0.5 per cent fall in retail sales in August is a nasty shock and deals a significant blow to growth hopes. “Indeed, it will likely fuel fears of a double dip, given the importance of consumer spending to the economy and the fact that the fall in sales were broad based in August.” Thursday 16 September 2010 4:56 am whatsapp Tags: NULLlast_img read more

IHG hits £1bn mark in China

first_img InterContinental Hotels (IHG) said yesterday sales from China would beat $1bn (£626m) for the first time this year, as it prepares to double its hotel count in the fast-growing market. The emergence of a middle class in China who are keen on travel has led big hotel operators to pile into the market, with InterContinental, Marriott International, Accor and others building their portfolios. IHG, the world’s top hotelier by room count, whose brands include Crowne Plaza and Holiday Inn, had 132 hotels in Greater China, which includes Taiwan and Hong Kong, at the end of June with another 148 in the pipeline. The company has undertaken a massive overhaul of its Holiday Inn brand across the globe. IHG hits £1bn mark in China Thursday 14 October 2010 8:07 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 KCS-content center_img Share 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 Show Comments ▼ Tags: NULLlast_img read more

NoTW moves behind paywall

first_img whatsapp whatsapp Show Comments ▼ 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 Thursday 14 October 2010 9:46 pm KCS-content center_img The UK’s best-selling Sunday paper News of the World moved behind an online paywall yesterday. The tabloid is the third News International title to charge readers to view content online in a bid to counter declining print sales, after the Times and Sunday Times websites were put behind the paywall in July. Only the NOTW home page is still free, with the full site now costing users £1 for 24 hours or £1.99 for a month to access. The paper also plans to launch an iPad app costing £1.19 per week. Share More From Our Partners Killer 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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com NoTW moves behind paywall Tags: NULLlast_img read more

AIA float sees investors pile in

first_img whatsapp whatsapp John Dunne AIA float sees investors pile in Show Comments ▼ Share Friday 29 October 2010 5:22 am AIA Group surged 17 per cent in its Hong Kong debut as investors, chasing exposure to Asia’s fast-growing life insurance business, piled into the record offering in the world’s hottest IPO market.The stronger-than-expected listing is a relief for bailed-out insurer American International Group Inc after a two-year effort to sell its Asian unit, including a failed takeover attempt from British insurer Prudential plc.The strong start boosted AIA’s market value above the $35.5bn (£22.3bn) Prudential had initially offered for AIA in March, vindicating AIG’s decision not to accept $30.4bn bid that followed.AIA CEO Mark Tucker will now battle it out with Prudential to grab a greater share of the $358bn Asia-Pacific life insurance market after spending about 17 years building Prudential’s Asian business.Diversifying quickly into bancassurance – selling insurance products through banks – is one of the battles Tucker has on his hands, as he gets underway to revive growth at AIA after the wounds inflicted by AIG’s near-collapse.“The successful IPO would turn management’s full attention back to the core business. The IPO and the separation from AIG took up some of management’s time,” said Sally Yim, senior analyst of financial institutions group at Moody’s Investor Service.“Whoever is able to diversify into bancassurance and at the same time strengthen their agency productivity will be the winner in Asia,” she added.Tucker, 52, a former professional soccer player known for his long hours and competitive nature, faces off against the likes of Prudential, ING and Manulife Financial Corp.AIA closed at HK$23.05, 17 percent above the IPO price of HK$19.68, after hitting a high of HK$23.15. A Reuters poll had, on average, forecast the shares to start trading at HK$21.79.AIA accounted for about 42 per cent of Hong Kong’s total market turnover with early trade dominated by retail demand, according to Hong Kong exchange data.Asia has led the world in IPOs this year, raising a record $124.7bn to account for more than 66 per cent of all global volume, according to Thomson Reuters data. One-third of Asia’s IPOs have been in Hong Kong, drawing on its access to the booming China market and big investor base.AIA also caps a record year of insurance IPOs, which saw Japan’s Dai-ichi Life Insurance sell $11bn in shares and Samsung Life Insurance raise $4.4bn.AIA’s IPO closed two days ahead of schedule after being swamped by orders from Chinese investors and traditional long-only funds. AIG raised $17.8 billion after selling shares at the top end of the marketing range. The offer was subscribed 9.62 times.The IPO could raise as much as $20.5bn if AIG exercises the over-allotment option, setting it on course to be the world’s third-biggest IPO. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tags: NULLlast_img read more

Portugal to cut spending further after budget deal

first_img whatsapp Portugal to cut spending further after budget deal KCS-content whatsapp Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity 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 CenterBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach Raider Tags: NULLcenter_img Show Comments ▼ Portugal’s government will cut 2011 spending further to ensure it meets its budget deficit target after a deal with the opposition to pass an austere 2011 budget, Prime Minister Jose Socrates said yesterday.The deal hammered out last Friday included concessions by both the minority government and the main opposition Social Democrats (PSD). This created a gap of €500m (£438m) in the budget bill, which must be closed to meet next year’s deficit target of 4.6 per cent of GDP.“This will be achieved via a generic reduction in various sectors of public spending and an increase in non-tax revenues,” Socrates said during the presentation of the bill in parliament.PSD leader Pedro Passos Coelho said earlier the government “has committed itself to presenting measures that reduce primary public spending to counterbalance the €500m”.Socrates would not say what part of the sum will be saved via spending cuts, but his remarks suggested non-tax revenue will account for a small share, as proposed measures on that front include a tender of mini-power plant concessions and better management of state property. More From Our Partners I 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.comKiller 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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Tuesday 2 November 2010 7:35 pm last_img read more

Simon tries to charm Capital shareholders

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Simon tries to charm Capital shareholders SIMON Property will begin an international push to lure Capital Shopping Centres’ shareholders into accepting a takeover this week, after regulators imposed a 12 January deadline for a formal offer. Simon’s advisers on the deal – Citigroup, Lazard and Evercore – are set to meet with CSC shareholders in the UK and South Africa to convince them of the £3bn indicative offer’s value. Capital’s largest shareholders include Donald Gordon, the South African boss of former CSC parent Liberty International, as well as property funds based in South Africa and run by Investec, Sanlam and Coronation Asset Management. Large stakeholders in the UK include BlackRock and Legal & General, alongside Simon Property itself, which owns a 6.25 per cent stake. A number of analysts have said that large shareholders are unlikely to part with their stakes for cash because the exposure to the UK property market is more valuable. Several others, including Seymour Pierce and Evolution, have argued that Simon’s indicative offer of 425p per share must rise before investors will agree to sell. Simon is reported to be considering raising its bid to 435p a share, though the company yesterday played down talk of a sweetened offer.The Takeover Panel issued a “put up or shut up” notice on Friday amid concerns that Simon is attempting to frustrate CSC’s £1.6bn purchase of the Trafford Centre in Manchester. KCS-content whatsapp Show Comments ▼ center_img Sunday 19 December 2010 10:46 pm 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 ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Share Tags: NULL whatsapplast_img read more

Forecasts for 2011 in media

first_img Deloitte yesterday unveiled its telecoms and media predictions for the coming year.And while Steve Jobs may have temporarily stepped out of the limelight, technology he has championed – including digital downloads and video calling – dominates the list. Deloitte believes 400m phones with front facing cameras for video calls will be shipped in 2011, with the format becoming cheaper and of a far higher quality. However, the firm believes consumers will continue to give the technology the cold shoulder, with demand remaining low.Wi-fi hotspots will be increasingly important, with customers unwilling to pay data charges for streaming video over 3G networks. Deloitte also says it does not expect next generation 4G networks to take off in 2011.In media, Deloitte expects TV to continue to hold its own against the barrage of new media. It says the number of households with digital video recorders will hit 50 per cent but believes the majority of consumption will still be live TV, which is good news for traditional advertising.This year will be the first time digital sales outstrip CD sales in a major market, with the US probably reaching the tipping point marginally ahead of the UK. Record companies are set to continue the trend towards live music rather than recordings, although overall investment in artists looks set to fall by $500m.The gaming world is set to change dramatically, with an explosion in downloadable games and increasingly complex revenue models, including subscription fees and in-game purchases, which could eventually represent half of the industry’s revenue.Deloitte believes social networks – led by the $50bn-valued Facebook – will churn out an astonishing two trillion adverts but only pull in $5bn in revenue. It says that by the end of 2011 half of computer-based internet users could be signed up to a social network, placing a potential glass ceiling on future growth.WHAT TO LOOK OUT FOR THIS YEARTVTV will continue to fend off attacks from new media. On-demand will reach half of homes but live viewing will remain the norm for most people.GAMINGRevenue and distribution models will shift dramatically this year, with more subscription fees and downloadable games on offer.MUSICMusic sales will reach the tipping point where downloads outstrip CD sales for the first time in a major market. Live music will continue to drive revenue.NETWORKSSocial networks will produce an estimated two trillion adverts, generating $5bn in revenue. Upward trajectory could be capped as the market matures.MOBILEVideo conferencing will become a staple on mobile phones but consumers will continue to snub the technology in favour of good old voice calling.WI-FIWi-fi will remain important for users of mobile devices thanks to the prohibative cost of data usage. 4G networks will not usurp 3G this year. Tuesday 18 January 2011 7:24 pm Show Comments ▼ Share Forecasts for 2011 in media whatsapp whatsapp KCS-content More From Our Partners Killer 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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Tags: NULLlast_img read more

Chinese trade gap shrinks giving it ammunition in battle with the G20

first_img Share Monday 14 February 2011 8:33 pm Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap whatsapp CHINA’S trade surplus fell to its lowest in nine months in January after imports surged, supporting the government’s case ahead of a G20 meeting that it is doing enough to spur domestic demand without speeding up currency appreciation.The trade surplus shrank to $6.5bn (£4.1bn) from $13.1bn in December, well short of forecasts for a $10.7bn gap.Global stocks and commodity prices climbed higher, with the surprisingly strong imports highlighting China’s massive appetite for raw materials and its solid export growth hinting at solidifying recoveries in the US and European economies.In the past, a weaker surplus would have caused concern for the Chinese government, but more recently it has been trying to shift the economy toward greater reliance on consumption and less on exports, in part to address critics who say that its success has come at the expense of other countries.It was the third consecutive month of a declining trade surplus, and though not enough to mark a definitive change, that streak provides a symbolic boost to China before the G20 meeting this week of finance ministers from the world’s biggest developed and developing economies.Analysts warned, however, that its surplus could rebound later this year. “There tends to be a seasonal pattern and there is generally a decline in the trade surplus at the beginning of the year,” said Jian Chang, an economist with Barclays Capital in Hong Kong. “Exports tend to be weak in the first quarter, while there is no such pattern in imports.”The G20 meeting in Paris on 18 and 19 February will try to hash out a gameplan for tackling global economic imbalances. whatsapp Tags: NULL KCS-content Chinese trade gap shrinks giving it ammunition in battle with the G20 Show Comments ▼last_img read more

West Ham value rockets following stadium boost

first_imgMonday 14 February 2011 10:14 pm West Ham value rockets following stadium boost Share KCS-content Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap WEST HAM’S value has doubled following its successful bid to move into the Olympic Stadium after the London 2012 Games, according to analysts, and could earn owners David Gold and David Sullivan a joint profit of £120m.The Premier League club was worth just £100m a year ago but its success in securing the 60,000-seater arena for a fraction of the £530m construction cost is estimated to have doubled the side’s value overnight.Once the Hammers have completed their move, which is due to take place in 2014, and is enjoying increased revenues from corporate tickets and the sale of naming rights, it is predicted the club will be worth around £300m.“Obviously the value has increased overnight, the minute they got the stadium,” Stan Lock, an analyst at brokers Brewin Dolphin, told City A.M.“I’d say now [it’s worth] £200m without anything happening. And then once it’s all complete, the corporate areas are in, it must be £300m.”Gold and Sullivan together own 61 per cent of the East End outfit, which they bought last year in deals that priced the club at around £100m. An increase in its value to £300m would see the combined worth of their stake rocket from £60m to £180m.The estimate relies on West Ham avoiding relegation, and on the government and Mayor of London rubber-stamping their move to the stadium. whatsapp Tags: NULL whatsapp Show Comments ▼last_img read more

Lederman begins LSE action

first_img KCS-content A FORMER executive’s industrial relations case against the London Stock Exchange (LSE) got off to a fiery start yesterday as hundreds of documents came to light just hours before the beginning of the Tribunal hearing.The former head of Turquoise Eli Lederman is suing the LSE under laws that protect employers when one business is sold to another. The LSE has already conceded that Lederman was unfairly dismissed but it is contesting the rest of the claims in the case that started yesterday at Kingsway, near Holborn. Unfair dismissal carries with it a maximum payout of £80,000.Lederman says his solicitors have been seeking documents and emails relevant to the case for weeks and it was only eight hours before the case began that hundreds of fresh papers were handed over.The hearing was adjourned yesterday mid-morning so that Lederman and his legal team could read through the documents.“It seems that senior LSE executives have as much difficulty discovering important documents from their email systems as their clients have recently had obtaining prices reliably from LSE trading systems,” Lederman said yesterday, referring to the LSE’s recent trading system glitches.LSE in February last year replaced Lederman with David Lester, the director of information services at the exchange.Turquoise was set up by LSE’s biggest customers including Morgan Stanley, Credit Suisse Group, Bank of America, Deutsche Bank and Goldman Sachs, and had taken market share from LSE and other traditional exchanges.The LSE declined to comment last night. The case continues. Share More From Our Partners Native 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.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida 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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Show Comments ▼ Lederman begins LSE action whatsapp Thursday 17 March 2011 9:23 pm whatsapp Tags: NULLlast_img read more