Dublin in row with S&P due to downgrade
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A ROW broke out between S&P and Ireland yesterday after the country accused the credit rating agency of “flawed” analysis of its debt position.The war of words broke out after S&P cut its rating for Ireland by a notch to AA- after the markets closed on Tuesday night and placed the country on a “negative outlook”, indicating that another rating cut could be on the cards.The agency expects debt to peak at 137 per cent of GDP, compared with the 97 per cent estimated by the Irish government. S&P also estimates that the cost of bailing out the nation’s banks will surge to €50bn – more than double the government’s own predictions.John Corrigan, chief executive of Ireland’s National Treasury Management Agency, insisted that the analysis failed to take into account the value of its investment in AIB or Bank of Ireland. There was further disagreement over the ratings agency’s inclusion of the liabilities of the National Asset Management Agency (NAMA) — which is buying up Ireland’s bad property loans — in the debt figure. “They have invented a new standard that doesn’t conform with Eurostat or IMF measures. It results in a very exaggerated figure. Where you see faulty analysis you have to challenge it,” Corrigan said.But S&P fought back, saying in its original document: “We understand that NAMA has been organised in such a way as to keep it off the Irish government’s balance sheet under Eurostat’s accounting rules. We take a different approach and have treated similar off-balance-sheet arrangements to support national financial systems in other countries as direct obligations of the government.” The downgrade pushed up the cost of borrowing for the Dublin government as yields on ten-year bonds rose from 5.5 per cent to 5.7 per cent. That took the premium that investors demanded to hold the bonds rather than German bunds to the highest level since the Greek financial crisis.Yields on ten-year gilts also dropped to a record low of 2.79 per cent as investors fled to the safety of British government bonds. Show Comments ▼ KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden 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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndo
KCS-content Thursday 26 August 2010 8:19 pm British plastic and fibre products supplier Filtrona reported a 37 per cent rise in its first-half adjusted pre-tax profit, helped by a revenue rise in its higher margin divisions, and forecast strong growth in the second half. The company, which develops and manufactures products for use in consumer, medical and industrial markets, raised its interim dividend by 11.1 per cent to 3p. January to June adjusted pre-tax profit was £34.6m, compared with £25.3m a year ago. Revenue for the year was up 8.7 per cent at £247.6m. Strong growth for Filtrona by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyBetterBe20 Stunning Female AthletesBetterBeCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fanautooverload.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 PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd Tags: NULL More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA 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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org
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Share Other retailers, such as Debenhams, have also put more emphasis on in-house ranges rather than concessions, where margins may be lower.More products will be available online, and this month it will introduce a feature that gives customers the option to buy online and collect in any of its 61 stores – which it is also refurbishing, while working on plans to open its first outlet in the Middle East under a partnership with Retail Arabia International. The first is due to open in Abu Dhabi in 2012.The group was part of an extensive portfolio of British businesses backed by Baugur before it collapsed, with Baugur’s 33 per cent stake reverting to fellow Icelandic bank Landsbanki. DEPARTMENT store group House of Fraser yesterday reported a 22 per cent rise in half-year earnings thanks to its own-brand ranges.The company said earnings reached £13m after a 5.5 per cent rise in sales to £480.6m.House of Fraser, the third-biggest department store chain in the UK, said its online sales were also forging ahead.The performance in the six months to 31 July was boosted by a 62 per cent rise in sales of the group’s house brand and a 150 per cent increase in online sales.Sales at stores open at least a year rose by 8.4 per cent, and were up 10 per cent in the first seven weeks of the second half.Chief executive John King is adding more own-brand products, including the revived 1960s “Biba” womenswear label. The idea is to offer cutting edge fashion at afordable prices.Own-brand items account for 11 per cent of total sales and the company aims to lift that percentage to as much as 40 per cent.King said: “We clearly are very encouraged by the strong demand for our House Brands from our customers, and particularly pleased with the recent launch of Biba.” Wednesday 22 September 2010 7:39 pm Tags: NULL
Share Foyles profits surge after boom at London flagship 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.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.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp KCS-content Thursday 23 September 2010 8:14 pm Show Comments ▼
Foyles bookshop yesterday announced profits ahead of expectations for the financial year with operating profits up five-fold year-on-year. Like-for-like sales grew by 9.7 per cent, following a bumper Christmas. The net pre-tax profit figure for the year ended 30 June was £335,935 whilst turnover grew by 1.9 per cent to £23.1m. The directors have once again decided not to pay a dividend in order to strengthen the balance sheet Sales growth has mainly come from the two established bookshops at the Royal Festival Hall on London’s Southbank and St Pancras International station as well as the flagship store at Charing Cross Road. The store has a planned ground floor extension reiterating the company’s growth trend. Chairman of Foyles, Christopher Foyle said: “I am very pleased with the trading results for the year.” whatsapp 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
ANALYST VIEWS: WHAT DO BABCOCK’S FIGURES MEAN FOR INVESTORS? Show Comments ▼ MIKE MURPHY | NUMIS“Babcock remains ‘confident’ of achieving the VT merger benefits which we believe help underpin short term earnings and they are positive the government’s need for more outputs at lower costs should ensure a steady, if not a rush, of new contracts in the medium term which should underpin earnings momentum.”CHRIS ALEXANDER | BNP PARIBAS“The half year update reads well; the shares are almost four per cent up. The company notes that the financial performance is both strong and in line with internal forecasts. We summarise this as a confident comment likely to lead to small earnings per share forecast upgrades.”MICHAEL PARKINSON | BREWIN DOLPHIN“We are not expecting consensus earnings per share of around 53p to move materially. The positive news on cash and optimistic outlook statement could help to provide a catalyst for improved share price performance. We retain our ‘buy’ recommendation.” whatsapp KCS-content Share 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
More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 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.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com Wednesday 29 September 2010 10:58 pm whatsapp Tags: NULL
Show Comments ▼ Tuesday 26 October 2010 8:46 pm 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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com whatsapp 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 TimesDiscovery23+ Sports Stadiums Around the World That Are Abandoned NowDiscoveryMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald KCS-content 
Indonesia is facing the double disaster of a volcanic eruption and a tsunami. Yesterday’s eruption of Mount Merapi killed at least 18 perople and forced thousands to flee their homes as the volcano spewed burning ash above the island of Java. About 1,300 km west, rescuers raced for Indonesia’s Mentawai islands, which was hit by an earthquake on Monday night. At least 113 died and more than 500 are missing after 3m waves swept away hundreds of homes. whatsapp Indonesia facing double disaster Share Tags: NULL
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SINCE the launch of City A.M.’s Campaign for Financial Literacy yesterday, the number of positive responses received from City firms that are already engaged in education initiatives has been incredibly encouraging. Financial planners Killik, for example, has been developing a web-based tutorial known as Money in Mind. The site uses simple graphics and language to explain concepts such as budgeting, tax and mortgages, with electronic trophies awarded for completing each section. Its developers are trying to get the site accredited so that students that complete all the tutorials get credit towards a GCSE in Financial Planning. City A.M. also heard from Barclays, which last year launched a Barclays Money Skills campaign aimed at disadvantaged 16-25 year olds. Again based online, Money Skills offers downloadable guides to aid financial knowledge and money management, plus a game specifically targeted to help 14-19 year olds. NatWest runs a similar scheme, called MoneySense, which combines online resources for customers with targeted lessons in UK schools. It has also been carrying out research into young peoples’ attitudes to money, the results of which will be out in March. Finally, this morning KPMG is launching its latest educational initiative, a fund to pay all tuition fees, plus a salary, to students that join its degree scheme. GCSE DISMAY: P17 Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap KCS-content Wednesday 12 January 2011 8:55 pm City responds to calls to make a commitment to personal finance whatsapp Share
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Tags: NULL DISCUSSING THE ROAD TO FUTURE PROSPERITY NOW Show Comments ▼ Share whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgTexas governor said he plans to strip the Legislature’s paybusinessinsider.com KCS-content GROUP CHIEF EXECUTIVE, AVIVAOUR business is about securing the long-term financial futures of our customers: providing prosperity and peace of mind. And our relationships with customers are enduring – potentially lasting 50 or 60 years through the savings and retirement phases of their lives. As a leading insurer, with 53m customers, we’re at Davos to join in some of the biggest topics up for discussion: rebuilding trust in financial services and tackling the savings gap.More than any other issue, the question of savings links the big macroeconomic and political debates of our time with the specific and everyday concerns of every individual. It links high politics with culture and psychology; local markets with global economic imbalances. It affects our livelihoods, our political debate and the development of society worldwide.We need a change in attitude towards saving, and for it to be reconnected to the idea of prosperity, both for the individual saver and for those that use their capital to create wealth.With that in mind, Aviva recently convened the Future Prosperity Panel – in partnership with the Economist Intelligence Unit – bringing together experts in behaviour change, economics and policy to look at ways of bringing about a step-change in attitudes towards savings. We’ll be publishing new thinking on the subject later this year.The image of savings has not been helped by the turmoil that has sapped confidence in markets and financial services. Part of our discussions this week in Davos must focus on reintroducing the concept of prudent saving to customers who may have lost faith in that process.The Future Prosperity panel is chaired by the Economist’s capital markets editor, Philip Coggan, and brings together nine leading thinkers. It will use insights from business, behavioural economics and public policy to consider new approaches to improve prosperity around the world. whatsapp Tuesday 25 January 2011 8:54 pm
Tags: NULL More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.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.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comKansas coach fired for using N-word toward Black playerthegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.com Share whatsapp UK retail sales rebounded in January after heavy snow caused a big drop in December sales, figures have shown.The volume of retail sales in January rose 1.9 per cent on the previous month, the Office for National Statistics said.December’s monthly figure was also revised downwards to show a 1.4 per cent monthly drop – the biggest December fall since records began.There was some anecdotal evidence that shoppers made major purchases before the VAT rise took effect on 4 January.David Kern, chief economist at the British Chambers of Commerce (BCC) said: “The strong rebound in January’s retail sales shows that the economy is recovering and spending is rising, despite the VAT increase at the beginning of the year. “However, the downward revision in the December figure suggests that the impact of the severe weather last month was even worse than previously thought. In general terms, these figures support our view that GDP will show positive growth in the first quarter of 2011 after the decline in the last quarter.” Show Comments ▼ 
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