BAE takes flight in cyber security sector with $233m bid for SilverSky

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Tuesday 21 October 2014 8:36 pm Show Comments ▼ Defence firm BAE Systems is looking to expand into the cyber security sector with a $232.5m (£144.2m) bid for SilverSky.SilverSky, owned by US company Perimeter Internetworking, is a cloud-based security services provider with 5,500 customers in the financial services, retail, healthcare, energy, critical infrastructure and manufacturing sectors. It is focused mainly on the US market, with a developing business in Asia and Europe.The acquisition will be made on a on a cash-free and debt-free basis, and is expected to close before the end of 2014. It will be funded from BAE Systems’ existing cash resources. Ian King, chief executive at BAE, said the deal would help to grow the group’s Applied Intelligence commercial cyber security business and would also provide a “proven route to commercial markets in the US and other countries”. He added: “Together, the enlarged business will offer corporate clients a suite of products and services to protect critical information and networks and detect cyber threats and financial crime. The enlarged business has outstanding growth opportunities.”Sash Tusa, analyst at Edison Investment Research, said that although the acquisition was a small one on a financial basis, it was interesting because BAE had not made a “significant deal” in the cyber security sector for a couple of years. He commented: “Investors have become a bit disappointed by BAE’s cyber activities, since the overall growth has been weak recently due to US budget cuts. This deal could be quite an interesting opportunity for BAE to re-boot its cyber business.” whatsapp whatsapp Share Caitlin Morrison Tags: BAE Systems Company BAE takes flight in cyber security sector with $233m bid for SilverSky last_img read more

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Esure share price down as premiums drop 7.4pc on back of cheaper car insurance

first_img More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.orgPuffer fish snaps a selfie with lucky divernypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com whatsapp Esure share price down as premiums drop 7.4pc on back of cheaper car insurance Wednesday 5 November 2014 8:21 pm Tags: Company esure Group Shares in Esure yesterday slumped 7.3 per cent after the firm reported that its cuts to car insurance prices had fuelled a 7.4 per cent drop in premiums over the past three months.Esure is behind Sheilas’ Wheels and price comparison site GoCompare.com. It said that while it was writing broadly the same num­ber of insurance policies, it had to reduce prices to stay competitive.Esure had almost two million insurance policies in force at the end of September, up 2.5 per cent on the same stage last year, but in the quarter premiums fell to £149.6m. Car premiums fell 8.8 per cent while home insurance was flat.“We have seen some signs of rate stabilisation in the UK motor market, but it is too early to say if this represents a turn in the motor rating cycle or is a consequence of rating seasonality,” said Stuart Vann, chief executive.Esure shares ended the day at 222p. Joseph Millis Share whatsapp Show Comments ▼last_img read more

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Sky credit rating downgraded following £7bn takeover of Sky Italia and Sky Deutschland

first_img whatsapp Sky credit rating downgraded following £7bn takeover of Sky Italia and Sky Deutschland Sky’s long-term corporate credit rating has been cut following the completion of its £7bn takeover of Sky Italia and Sky Deutschland yesterday. Standard & Poor’s downgraded Sky’s credit rating from ‘BBB+’ to ‘BBB’ as it estimated the group would raise a “significant amount of debt to part-find the acquisitions”.  The credit ratings agency expect Sky to post about £7.9bn of debt by the end of the financial year in June 2015.  The outlook for Sky is stable, said Standard & Poor’s, who expect the acquisitions to have a “modestly positive impact on BSkyB’s business risk profile”. Yesterday British Sky Broadcasting Group PLC announced it had completed the acquisition of a 100 per cent stake in Sky Italia and an 89.71 per cent stake in Sky Deutschland.  Last week credits ratings agency Moody’s also downgraded BSkyB’s rating due to the debt accumulated in the takeover. Moody’s shifted the company from ‘Baa1’ to ‘Baa2’, its second lowest investment grade. The company has now dropped “British” and “Broadcasting” from its official name and changed its stock market ticker from BSY to SKY. The new company will be listed in London with chief executive of BSkyB Jeremy Darroch now overseeing operations across the Sky Deutschland and Italia arms. The international business will serve 20m customers across the UK, Ireland, Italy, Germany and Austria, employing 31,000 staff. whatsapp Thursday 13 November 2014 4:49 pm Joe Hall center_img Show Comments ▼ Tags: Company Mergers and acquisitions Sky Share More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNational Penny For Seniors7 Discounts Seniors Only Get If They AskNational Penny For SeniorsTele Health DaveRemember Pierce Brosnan’s Wife? Take A Deep Breath Before You See What She Looks Like NowTele Health DaveThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorLoan Insurance WealthDolly Parton, 74, Takes off Makeup, Leaves Us With No WordsLoan Insurance WealthPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost Funlast_img read more

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Minecraft at Tate

first_img Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likezenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPost FunGreat Songs That Artists Are Now Embarrassed OfPost FunMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorLoan Insurance WealthDolly Parton, 74, Takes off Makeup, Leaves Us With No WordsLoan Insurance WealthPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryThe No Cost Solar ProgramGet Paid To Install Solar + Tesla Battery For No Cost At Install and Save Thousands.The No Cost Solar ProgramElite HeraldKate Middleton Just Dropped An Unexpected Baby BombshellElite Herald FANS of the hugely succes­sful Minecraft video game will be able to play inside worlds envisioned in art from the collection of the Tate museums in Britain with free-download releases of two 3-D Tate Worlds starting on Monday. The first two paintings inspiring the Tate Worlds are Andre Derain’s 1906 The Pool of London and Christopher Nevinson’s 1920 painting of New York, Soul of the Soulless City – pictured in its Minecraft version (left) and original. Show Comments ▼ Minecraft at Tate Thursday 20 November 2014 8:59 pmcenter_img 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.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.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.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Tags: NULL whatsapp Express KCS last_img read more

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Wonga to end Blackpool FC sponsorship

first_img Show Comments ▼ Tags: Payday lenders Wonga Wonga to end Blackpool FC sponsorship PAYDAY lender Wonga will not renew its sponsorship deal with Blackpool FC when the current contract expires at the end of this season, the embattled online finance firm said yesterday. It comes as part of a wider review of its marketing strategy – Wonga has already stopped advertising on TV, and removed its name from replica Newcastle United football strips. Thursday 29 January 2015 8:49 pm whatsapp whatsapp Express KCS Share More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orglast_img read more

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PMQs descends into mud-slinging match as Cameron and Miliband attempt to distance themselves from HSBC tax taint

first_img whatsapp Show Comments ▼ Catherine Neilan whatsapp Sharecenter_img PMQs descends into mud-slinging match as Cameron and Miliband attempt to distance themselves from HSBC tax taint HSBC dominated Prime Minister’s Questions today as David Cameron and Ed Miliband traded insults over which party had closest ties to those clients on the list of alleged tax evaders. The two took turns to sling mud at each other over the matter, with the Labour leader describing his counterpart as a “dodgy Prime Minister surrounded by dodgy donors”. Cameron meanwhile claimed Miliband and Ed Balls “were the friend of the tax dodger”, insisting the Tories were “the friend of the taxpayer”.  The explosive session started when Miliband highlighted a Guardian article detailing the number of Tory donors and peers, as well as MP Zac Goldsmith, who legally held accounts at HSBC’s Swiss subsidiary, describing a “revolving door” between the party and the bank. He said Cameron was “up to his neck on this”.  Cameron hit back noting the number of Labour donors also on the list, adding that “people should always pay their taxes”. He went on to highlight the support given to Labour by the unions. Miliband then called on Cameron to explain why former HSBC boss Stephen Green had been appointed as a trade minister in 2010 and questioned how it was possible that no conversation relating to the matter had taken place in the following three years.  “This is the behaviour we saw of [former No 10 communications director] Andy Coulson,” he said “There is something rotten at the heart of the Tory party and it’s him.” The question of Cameron’s relationship with Green was raised by two other Labour MPs – Sharon Hodgson and Phil Wilson – but the Prime Minister insisted the appointment followed due process.  Cameron added: “I made the appointment, it was welcomed by Labour and three years later they were still holding meetings with him.” During the course of PMQs, Richmond Park MP Goldsmith released a statement regarding his inclusion on the Guardian’s list of people who legally held accounts in Switzerland with HSBC’s private bank.  It said:  “It has never been a secret that I am a beneficiary of a Trust set up by my late father and administered by a family Office in Geneva. Indeed this was widely discussed before the last election. This report adds nothing to that old story. “To be clear, my very numerous family members around the world who are beneficiaries of the same Trust do not own or control it, but like me, they receive income from it. I have never had a Swiss bank account, and do not control any Swiss bank accounts. I have never sought or been given tax minimisation advice by HSBC, directly or indirectly. The media commentary around this is therefore wrong.  “The fact is that I receive an income from an international trust, and I have paid taxes in full on all the income or capital gains I have received, irrespective of where these arise. HMRC are aware of the structure set up by my father and has never requested any ‘back taxes’ at all. Nor do they have any reason to. “On the issue of my contributions to the Conservative Party, they are a matter of public record and the vast majority are ‘notional’ and relate to use of offices over the past ten years. Finally, it has been said that I relinquished the non-dom status I inherited from my father only after public pressure. This is wrong. I voluntarily relinquished it long before anyone ever approached me about the issue.” Wednesday 11 February 2015 8:11 am Tags: Company David Cameron General Election 2015 HSBC Holdings Peoplelast_img read more

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Manchester United’s prolific former manager Sir Alex Ferguson is writing a book on leadership with ex-Google and Yahoo executive Sir Michael Moritz

first_imgWednesday 11 March 2015 9:48 am Share whatsapp Sir Alex Ferguson, the prolific former manager of Manchester United, will soon reveal the secrets of his success in a new book on leadership.Having won 38 trophies in 26 years with the Premier League club, the retired manager is already sharing his knowledge as a teacher at Harvard Business School. Now Ferguson is teaming up with investor Sir Michael Moritz, a former executive at Google and Yahoo, to reveal all of his leadership lessons after spending 38 years as a manager.The tome from Hodder & Stoughton is due to be released in October, simply called Leading.The pair will cover tactics and teamwork, hiring and firing, dealing with the boardroom and responding to failure, taking an in-depth look at Ferguson’s pivotal leadership decisions throughout a glittering career at the top to inspire leaders off the pitch.“Since stepping into retirement I have had the opportunity to reflect on my time as a football manager, and to consider the reasons behind my success through personal recollections, conversations with Mike Moritz and my role at Harvard Business School,” said Ferguson. “It has been a new experience for me to be looking into the past rather than planning for the future, but one that I have found enjoyable and rewarding.“The process behind creating this book began many years ago following my first meeting with Mike, which immediately created a mutual respect for each other’s achievements. Over the past year, we have spent many hours together as we have worked our way through my life in order to draw out and discuss the key philosophies I applied during my career,” he said.One to add to the reading list come autumn. whatsapp Show Comments ▼center_img Lynsey Barber by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyDiscovery29+ Fascinating U.S. Navy WarshipsDiscoveryMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesComedyAbandoned Submarines Floating Around the WorldComedyMoneyWise.com15 States Where Americans Don’t Want To Live AnymoreMoneyWise.comTheFashionBallPrince Harry Admits Meghan Markle May Not Be The OneTheFashionBall More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comConnecticut man dies after crashing Harley into live bearnypost.comA 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.org Manchester United’s prolific former manager Sir Alex Ferguson is writing a book on leadership with ex-Google and Yahoo executive Sir Michael Moritz Tags: Manchester United Yahoolast_img read more

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General Election 2015 results: First Tory marginal held as party looks set to win

first_img Show Comments ▼ whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPuffer fish snaps a selfie with lucky divernypost.com Thursday 7 May 2015 8:03 pm ashley.kirk Tags: NULL center_img General Election 2015 results: First Tory marginal held as party looks set to win by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyGameday NewsNBA Wife Turns Heads Wherever She GoesGameday NewsEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlush Share The first Conservative-Labour marginal has been held by the Tories, in what may reflect an early pattern in the results for the General Election.More on this story: Election results live Nuneaton, the first of many Tory-Labour marginals, has announced a Conservative victory, with Marcus Jones being declared its MP. The party gained 20,827 votes, against Labour’s 15,945.The Liberal Democrats again faced wipeout in the constituency, gaining just 816  votes.Lord Ashcroft’s polls predicted a Labour win in Nuneaton with 39 per cent of the vote – with the party five percentage points ahead of the Tories. Such a result could bode badly for Labour, losing out on the type of seat needed for the party to gain ground in Westminster. The Tories won Nuneaton with a 2.23 per cent majority in 2010 – the 29th tightest Tory-Labour marginal. It has increased its majority this time round.The Tory win reflects Ipsos-Mori’s exit poll which suggested the Conservative Party would gain 316 seats – just 10 short of an outright majority.  whatsapplast_img read more

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Former financiers have mixed political fortunes

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressTheFashionBallPrince Harry Admits Meghan Markle May Not Be The OneTheFashionBall Sunday 10 May 2015 11:18 pm whatsapp Share THE CITY’S alumni were well-represented in the General Election, with varying fortunes.Chis Chope – a former Ernst & Young consultant – kept the Christchurch Conservative safe seat he has held since 1997 and Sajid Javid – a former high flyer at Chase Manhattan Bank and Deutsche Bank – is tipped for a cabinet promotion from Culture Secretary to Business Secretary. Meanwhile Ian Blackford, a former NatWest Securities and Deutsche Bank executive, became the new SNP MP for Ross, Skye & Lochaber, unseating Charles Kennedy after his long reign.On the flip side, former JP Morgan and Barclays investment banker turned MP David Laws was swept away from his Yeovil seat in the Lib Dem rout, as was Lewisham Deptford Lib Dem candidate Michael Bukola – a former HMRC and Deloitte tax expert.Not that any of them should be too dismayed. As anyone in the world of finance knows, your stock can go either up or down.•Have any of your colleagues or former colleagues run for parliament? Contact [email protected]■ It’s not rare for top figures in the world of finance to be associated with the UK’s leading football clubs. Former Goldman Sachs head Jim O’Neill was famously part of a takeover bid for Manchester United (before the Glazers snapped it up), while ex Barclays boss Bob Diamond has been pictured grinning next to captain John Terry after Chelsea won the FA Cup in 2012. Meanwhile regular visitors to the Arsenal include outgoing Prudential chief executive Tidjane Thiam, and recently-ousted Standard Chartered CEO Peter Sands. Yet bond guru Mohamed El-Erian, formerly head of Pimco, has more modest taste when it comes to the beautiful game. “So sad to see QPR relegated from the Premier League,” he tweeted yesterday. “And in such an ugly manner. Some of us had hoped until the last moment… Go figure!” With a £58m fine hanging over the west Londoners and the inevitable financial hit of relegation to come, perhaps El-Erian could help them out with a spot of pro bono financial advice. Show Comments ▼ Former financiers have mixed political fortunes Express KCS whatsapp Tags: NULLlast_img read more

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George Osborne and Iain Duncan Smith promise £12bn cuts to welfare budget

first_img Show Comments ▼ George Osborne and Iain Duncan Smith promise £12bn cuts to welfare budget The government has promised to slash the welfare bill by £12bn each year, the day after tens of thousands of people took to the streets of London to protest against austerity.Chancellor George Osborne and work and pensions secretary Iain Duncan Smith said the cuts would reform “the damaging culture of welfare dependency” and ensure “that work pays”  writing in the Sunday Times. The pair will forge ahead with cuts to the £220bn annual welfare budget including a reduction in the benefits cap and other “working-age benefits” with details to be announced in the chancellor’s Budget on 8 July.”This government was elected with a mandate to implement further savings from the £220bn welfare budget. For a start, we will reduce the benefit cap and have made clear that we believe we need to make significant savings from other working-age benefits.We will set out in detail all the steps we will take to bring about savings totalling £12bn a year in next month’s budget and at the spending review in the autumn,” they said.Osborne and Duncan Smith made the case that the government’s backing of business has led to job creation, encouraging the “shift from welfare to work” but there is “much more to do”. Having cut corporation tax and taken other steps to make sure Britain is once again open for business, it is good to see companies’ successes being passed through to workers in terms of these wage increases – something that will help us to reduce welfare spending further and that we want to see continue.The pair cited the latest job growth figures, released on Wednesday, which showed a fall in the rate of unemployment and the fastest rate of wage growth since 2001. whatsapp Lynsey Barber Share Sunday 21 June 2015 3:53 am Tags: Budget 2016 George Osborne Iain Duncan Smith People whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.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.orgInstitutional Investors Turn To Options to Bet Against AMCvaluewalk.comPuffer fish snaps a selfie with lucky divernypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgWhite House Again Downplays Fourth Possible Coronvirus Checkvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orglast_img read more

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