Blow for Commonwealth Games

first_img Share KCS-content Tags: NULL Thursday 19 August 2010 8:43 pm 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Recipes Worth CookingFamily Proof whatsapp whatsapp Blow for Commonwealth Games Two Indian state-run firms have withdrawn their sponsorship of the Delhi Commonwealth Games in October due to allegations of mismanagement. The country’s biggest power producer NTPC and energy transmission firm Power Grid Corporation have scrapped a total of 600m rupees (£8.3m) on the back of the negative publicity. In another blow to the games, Australian swimmer Dawn Fraser advised team members to consider boycotting the event over security concerns. Show Comments ▼last_img read more

Omega counts cost of disaster

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 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 Show Comments ▼ KCS-content Tuesday 31 August 2010 8:01 pm LONDON-listed property and casualty insurer Omega Insurance sank into the red in the first half of the year, weighed down by a string of costly natural disasters including the Chilean earthquake.“These catastrophe losses, together with the lag that currently exists in 2010 premium earnings, have had a major effect on our half-year results,” chief executive Richard Pexton said yesterday.The outlook for the second half depends very much on the level of hurricane activity, with Omega likely to suffer in the event of a large natural disaster even as some insurers benefit. “In the absence of a significant catastrophe, we would expect to break even at the end of the year, if there is a very large catastrophe, that will be a struggle,” he added.Omega swung to a pre-tax loss of $34.2m (£22.3m) in the six months to 30 June from a profit of $22.9m a year earlier, in line with its profit warning this month indicating it was on course for a loss of $35m. Omega blamed a high level of claims stemming from catastrophes including the Chilean quake, the BP oil spill in the Gulf of Mexico and hailstorms in western Australia.But the insurer said it remained confident of its future prospects and held its interim dividend at six cents per share.It said that the time lag on premium flows, which dented first-half profits, will even out in the second- half.The company’s board has undergone a radical overhaul amid shareholder activism, with new management appointed this year after it lost one of its most senior underwriters last year. Share center_img whatsapp Omega counts cost of disaster whatsapp 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 ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Tags: NULLlast_img read more

Man gets go-ahead to acquire GLG

first_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeOne-N-Done | 7-Minute WorkoutAdvertisement 7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoAll Things Auto | Search AdsBuick’s New Lineup Is Truly StunningAll Things Auto | Search AdsUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save ThousandsThe No Cost Solar ProgramUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndo 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 whatsapp Share Wednesday 1 September 2010 8:21 pm Show Comments ▼ center_img whatsapp MAN GROUP shareholders have given its recommended takeover of GLG Partners the green light, and the firm yesterday appointed GLG’s Emmanuel Roman as chief operating officer for the enlarged group.Over 90 per cent of Man investors yesterday voted in support of the $1.6bn (£1.03bn) buyout of New York-based GLG during the firm’s annual general meeting (AGM), with just 8.66 per cent opposed to the deal. The tie-up now needs approval from GLG shareholders, the Financial Services Authority and the US Securities and Exchange Commission. Man said it appointed Roman to the newly created top post to help integrate the two companies.Roman, who prior to GLG worked at Goldman Sachs, will be part of the three-person management team that will report to Man chief executive Peter Clarke once the firms tie-up. GLG’s Pierre Lagrange and Noam Gottesman will also report to Clarke.“The combination of Man and GLG will bring together a wealth of talent with comprehensive investor solutions and a strong performance focus,” said Clarke. KCS-content Man gets go-ahead to acquire GLG Tags: NULLlast_img read more

Regulator block NAB’s $12bn bid for Axa Asia

first_img Regulator block NAB’s $12bn bid for Axa Asia Thursday 9 September 2010 3:42 am Tags: NULL Australia’s competition regulator blocked National Australia Bank’s $12bn (£7.8bn) bid for AXA Asia Pacific for a second time, dashing NAB’s efforts to cement its dominance in the world’s fourth-largest wealth management market.The decision clears the decks for Australia’s second-biggest fund manager, AMP, to take another tilt at AXA Asia Pacific after its cash and share offer was trumped by NAB in December.The ruling sent AXA Asia Pacific’s shares tumbling by a tenth to levels not seen since it was put in play late last year, as investors bet NAB, Australia’s top lender, would give up its nine-month quest for control of the unit of France’s AXA.“I think it is time for NAB to move away from this bid. It has been nearly a year and they don’t need more distractions,” said Tom Elliot, Managing Director at hedge fund MM&E Capital.Australia’s top four banks, which hold dominant positions in everything from mortgages to life insurance, are looking to increase their sway over the $1 trillion wealth market that is seen growing at over 10 percent annually for the next five years on compulsory pension contributions, compared to loan growth of under five per cent a year. whatsapp John Dunne More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com whatsapp Show Comments ▼ Sharelast_img read more

BEST OF THE BROKERS

first_img whatsapp Show Comments ▼ KCS-content Share Tags: NULL BEST OF THE BROKERS whatsapp 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 Thursday 9 September 2010 8:19 pm SANTANDERSantander offers a reasonable degree of safety within a European sector that lacks clear direction, according to JP Morgan, which maintains an “over-weight” rating. However, JP Morgan cautions that the current valuation leaves little room for earnings disappointment, Spain remains a drag, and some post-deals capital hike cannot be totally discarded.RICHEMONTNomura has a “neutral” rating for Richemont, but has upgraded its estimates and price target to reflect the group’s strong trading for the past five months. Nomura believes that Richemont is well positioned in the current climate (brands, emerging markets, conservative management), and says the shares look fairly valued at current levels.AVEVABank of America Merrill Lynch BoAML) said that even assuming a 20 per cent premium to the stock’s historic average, the current price for Aveva seems to be discounting 20 per cent upgrades. BoAML has moved Aveva from “neutral” to “sell” and said the group is a potential M&A take-out candidate – and is already more than pricing-in the risk of a take-out. last_img read more

The airline boss with a hit list of 12 bid targets in his desk drawer

first_img whatsapp Share The airline boss with a hit list of 12 bid targets in his desk drawer It is clear that British Airways (BA) chief executive Willie Walsh always likes to keep his foot hard on the pedal.The Dublin-born airline boss is in the middle of a bitter 18-month dispute with his cabin crew, and only a few weeks ago received US and European regulatory clearance to pursue a transatlantic tie-up with American Airlines and a full-blown merger with Iberian. 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.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp center_img Show Comments ▼ KCS-content Monday 13 September 2010 7:40 pm But even though the details of these deals have still to be formally passed by shareholders, he last week admitted to have already drawn up a hit list of up to 12 other airlines around the world he would like to merge with or buy.Walsh, a combative and energetic 48-year old, puts it clearly: “The ambition is to pursue further consolidation. And we hope that this will lead to us becoming the biggest airline in the world.”A trim, alert Walsh is sitting in the first-class lounge in Mumbai’s Chhatrapati Shivaji International Airport at one in the morning. He is about to board a flight to Heathrow at the end of a lightening two-day tour of India’s commercial capital. He flew into the city in BA’s new longhaul Boeing 777-300ER, the first plane in the airline’s 240-strong fleet to carry the firm’s latest first class, business, premium economy and economy cabins.He also unveiled a codesharing agreement with one of India’s largest players, Kingfisher Airlines. India is the airline’s second largest market after the US, with 45 flights a week to five cities.Leaning forward in his easy chair in the Mumbai lounge, Walsh explains why consolidation is good for the industry and for passengers. He says: “A well consolidated business in this industry translates into two things – lower fares and greater profitability. We want to create a platform that like-minded airlines would like to join.”Walsh will not be drawn on who is on his hit list, but points out that “there is a lot of passenger growth in Asia and Latin America.” And a source close to BA adds that central Europe is an area in which the enlarged airline will be weak. Observers believe that Australia’s Qantas, Hong Kong’s Cathay Pacific, Air Berlin and Chile’s LAN Airlines may all be targets. Walsh adds: “We will concentrate on airlines that are healthy. We are not looking to do a basic restructuring of an operation. We want strong brands in their respective markets. We want a collection of brands that are efficient. Consolidation is about being better, not just bigger.”The airline boss aims to grow faster than larger rivals such as Germany’s Lufthansa and Air France-KLM, as well as fend off competition from fast growing Middle East players such as Emirates and Etihad. Sources close to the UK flag carrier say it will choose from a range of options to fund this expansion – such as using cash from operational savings, raising debt and all-share mergers.BA and Iberia plan to merge by the start of next year, under a holding company called International Airlines Group (IAG). But before that a number of things must happen. The Iberia board must vote to approve BA’s plans to shore up its £3.7bn pension deficit when it meets on 30 September. And then investors from both airlines must approve the merger at shareholder meetings in mid-November.This will then allow IAG to be set up, with both airlines operating underneath it. The new structure will see Walsh move from BA to become chief executive of IAG, while Antonio Vasquez will move from chairman of Iberia to become chairman of IAG. BA finance director Keith Williams will become the chief executive of BA.Walsh says his first task at IAG will be to ensure the enlarged group will save €400m (£329m) a year within five years. The airline chief adds two-thirds of this cash will come from cost cutting and one-third from boosted sales. Walsh explains he plans to get these savings by closely coordinating the new network. He says he wants to “take advantage of Iberia’s strong links into Latin America.” He also wants to offer an hourly service between New York and London at peak times. Last but not least, the airline chief adds that he also wants to cut supplier costs through joint procurement, and the use of fewer third party agents at the various airports it uses.Walsh says IAG will employ only 90 people and will “coordinate and control the finances of the network at the centre.” Any significant spending that BA, which employs 40,000 people, or Iberia, which employs 22,000, feel is necessary will have to be approved by IAG.The CEO thinks he will be a position to look at acquisitions in about 18 months time. But he adds that he “will look at any opportunity that arises” before then.Among all this Walsh is also dealing with a cabin crew dispute over pay and conditions that first erupted last February.The Unite union say the dispute is solely about restoring the travel perks of the 5,000 crew (in total BA employs 13,500 cabin crew) who have so far gone on strike for 22 days this year, costing the airline £150m. But Walsh says this is “absolutely not” the case. He says Unite’s British Airways Stewards and Stewardesses Association (Bassa) branch, which is based at Heathrow “will not embrace change and recognise that the industry has become brutally competitive.”The new contracts that Walsh has introduced in recent years for the rest of his cabin crew saw staff numbers fall by one person on shorthaul and longhaul flights, and will see the basic salary of a senior crew member fall from £50,000 a year to £35,000 in line with pay structures in the rest of the industry.Walsh has offered to ring-fence Heathrow staff from these reforms. The strikers do not want to accept these changes because they fear that they will be used less on lucrative longhaul routes, which have greater cash allowances (they can add up to 40 per cent to a crew member’s basic wages).Last week Bassa called on Unite national executive to hold a strike ballot in the run up towards Christmas. However, Unite’s leadership plans to hold further talks with BA later this week.Walsh says: “The problem is that Unite is a dysfunctional trade union that is split into two sections who will not talk to each other.”He adds: “I can do a deal with Tony Woodley [Unite joint general secretary] today. We get on well. We respect each other, although we argue. But the behaviour of Bassa is completely unacceptable. They have tried to personalise this dispute, but they have failed. People aren’t training as cabin crew because they believe in Willie Walsh; they are doing it because they believe in BA.”Walsh says he is determined not to backtrack on the changes he has made to cabin crew contracts.After BA’s two worst years of losses in its history – thanks to the financial crisis, which saw the airline lose £531m last year and £401m the year before – Walsh says the carrier is showing signs of recovery.The airline posted a first quarter loss of £164m, larger than the £148m it lost in the same period last year. But it put much of this down to strike action and disruption caused by the Icelandic volcanic ash cloud. And by the end of the year the airline forecasts it will break even in terms of profit before tax as key business and first-class customers return.The BA boss says: “We are not seeing anything that suggests a double dip recession. So far the recovery is going a little faster than I’d excepted.”As a sign of how things are improving Walsh points to his year-old all business class route from London City Airport to New York’s JFK.He says: “This route has exceeded our expectations. We are now looking at adding capacity to this route and introducing new cities, like Boston and Washington, to this service.”With that one of Walsh’s senior men at Mumbai airport reminds his chief he has a plane to catch. So after a few pleasantries, the airline chief dashes off, at quite a clip. Over the next six months Walsh will have to bed in two mergers, deal with a strike, streamline a network, implement crucial cost savings, boost his bottom line while keeping a close eye on new targets. Investors will hope that Walsh, a trained pilot, still retains a captain’s ability to remain calm in uncertain weather.CV | WILLIE WALSHAge: 48Working Week: In the office “from 7.20am to around 7.30pm. Then two nights a week I am out on work business.” Career: Aer Lingus cadet pilot at 17, co-pilot at 19. Switched to management at 27. Became Aer Lingus chief executive in 2001. In three years at the airline he halved the workforce.In 2005, he became chief executive of British Airways.Education: Ardscoil Ris secondary school, Dublin; MBA from Trinity College, DublinFamily: Married, one daughter. Lives in Twickenham, under the Heathrow flight path Tags: NULLlast_img read more

US August retail sales gain to ease fears of a new recession

first_img Share whatsapp Sales at US retailers posted their largest gain in five months in August on strong receipts at gasoline stations and clothing outlets, further assuaging fears of a double-dip recession.The Commerce Department yesterday said total retail sales rose 0.4 per cent following a revised 0.3 per cent rise in July. It was the second straight month of gains in retail sales, which are a measure of consumer health. July sales had been previously reported to have increased 0.4 per cent.“It suggests American consumers remain resilient despite the backdrop of high unemployment and declining home values. On the margin, this data reduces some concerns about a double-dip recession,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange.US stock index futures turned positive after the report, while Treasury debt prices pared gains. The dollar briefly trimmed losses versus the yen.Data so far for August, including private payrolls and manufacturing, have pointed to a tentative improvement in the economy after a recent soft patch.The recovery from the worst recession since the 1930s has cooled off as the boost from an $814bn (£524bn) government stimulus package fades and unemployment remains stubbornly high. whatsapp KCS-content US August retail sales gain to ease fears of a new recession center_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 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.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Tuesday 14 September 2010 9:03 pm Tags: NULLlast_img read more

New European finance sheriffs are finalised

first_img KCS-content Show Comments ▼ New European finance sheriffs are finalised Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily 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 ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof whatsapp Sharecenter_img whatsapp THE European parliament gave its blessing to the creation of new pan-EU financial regulators by the start of next year, heralding tighter controls for the financial industry.Three agencies will be established to keep tabs on banks, markets and insurers next January.A European Banking Authority will be based in London. Paris will be home to the European Securities and Markets Authority (ESMA) and the European Insurance and Occupational Pensions Authority will be in Frankfurt.The UK’s share of the vote on ESMA will be only 8 per cent and will be held by the new Consumer Protection and Markets Authority. The EU will also establish a European Systemic Risk Board, an agency of the European Central Bank that will keep watch for threats to the economy such as property price bubbles.To begin with, the power of the new financial sheriffs will be restricted.As it stands, the new agencies can step in if EU rules are being broken or they can order national supervisors to take action in an emergency.They will also have the final say in disputes between national agencies grappling with problems at an international bank. Wednesday 22 September 2010 7:32 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 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: NULLlast_img read more

East Coast Rail returns to profit and repays government early

first_img Show Comments ▼ East Coast Rail returns to profit and repays government early whatsapp whatsapp Thursday 4 November 2010 10:55 pm Tags: NULL center_img DIRECTLY Operated Railways (DOR) reported profit of £1.2m yesterday as a result of a three per cent increase in passenger numbers, but chief executive and chairman Elaine Holt warned more work was required before the operator was fit to be returned to private hands in 2012.The company, created by the government in July last year, when it effectively re-nationalised the East Coast Mainline, said turnover in the nine months to 31 March amounted to £233.8m while operating expenditure stood at £232.3m for the period.Holt said the company’s financial performance for the period had been strong and that it was “exceeding its targets.”She added the company had been able to pay back more money to the government meaning the business was now self-funding.More than £10.3m of new investment had been committed by DOR for the East Coast business including developments at several mainline stations, she added.DOR said May 2011 would see the introduction of the biggest timetable change for the railway line in 20 years, which would make an extra 10,800 seats available each weekday and provide 20 additional services. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorymoneycougar.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 FollowAlphaCute KCS-content 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Sharelast_img read more

Ageas UK sees profits fall on higher claims

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Ageas UK sees profits fall on higher claims whatsapp Wednesday 10 November 2010 8:06 pm 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.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutioncenter_img AGEAS UK reported a 50 per cent fall in pre-tax profit for the first nine months of the year following increased claims from the severe wintry weather at the start of the year and poor private car sales. The insurer, formerly known as Fortis, reported profits of £16.6m for the first nine months of the year, 50 per cent lower than the previous year’s profits of £33.2m. Ageas also blamed lower investment yields compared to last year for the lower set of results. Meanwhile start up deals with Tesco Bank, which cost it £7.7m, and Kwik Fit Insurance services, which cost Aegeas £4.3m, also impacted on profits.Ageas owns 50.1 per cent of Tesco Underwriting, the new insurance business with Tesco Bank, which began writing business in October.The company’s life business, Fortis Life, which only launched two years ago made a pre-tax loss of £3.3m for the year to date compared to a loss of £6.1m for the same period last year. Fortis Life is due to be rebranded in 2011 to Ageas.Barry Smith, chief executive of Ageas UK, said: “Notwithstanding a tough 2010, our performance has improved quarter by quarter which is really encouraging.” KCS-content Share Show Comments ▼ Tags: NULLlast_img read more