Crossrail, Tube investment worth £78bn to UK economy

first_img whatsapp INVESTMENT in Crossrail and Tube upgrades are worth £78bn to the UK economy, the London Assembly’s transport and economic development committees have argued in a letter to chancellor George Osborne. KCS-content Crossrail, Tube investment worth £78bn to UK economy The committees urged Osborne to protect Crossrail and Tube upgrade work from the austerity cuts, warning to do so would be a “false economy” for London and the rest of the UK.“These are major strategic transport projects which are crucial to delivering much needed improvements to London’s transport system and ensuring its long-term economic prosperity,” they wrote. “In turn, they have the potential to generate wider benefits for the whole UK economy.”Crossrail is expected to contribute at least £36bn to national GDP over the next 60 years, while the Assembly committees said one estimate put the potential government earnings from the project at £22bn over 10 years through extra tax take, increased property levies and fare profits.Passengers use the Tube for over a billion journeys per year, they said, meaning it is crucial to invest in the network to ensure London remains an attractive place to live and work.Mayor of London Boris Johnson has been vocal in his efforts to persuade Prime Minister David Cameron of the importance of maintaining investment in London’s transport. 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 ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Share Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal 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.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads Tags: NULL Tuesday 14 September 2010 8:39 pm whatsapplast_img read more

Compass denies rebate wrongdoing

first_img KCS-content Compass denies rebate wrongdoing Show Comments ▼ Tags: NULL Share Sunday 5 December 2010 11:28 pm whatsapp whatsapp COMPASS has denied any wrongdoing over volume contracts for services it provides for non-food contracts.Reports this weekend suggested that Compass, whose customers include the Ministry of Defence, had asked some of its non-food suppliers for rebates of up to 20 per cent relating to contracts it had with the government. But a Compass spokesman denied there was anything wrong in the practice saying: “Volume rebates are part of the normal course of business and reflect the benefit of our scale, enabling us to deliver value for our clients. “The market in which we operate is highly competitive. Clients have significant choice over who to appoint so we strive to offer the best value as transparently as we can.”Compass admitted there were “legacy” issues with two former suppliers but that these were not part of how it did business today. It said those issues related to only a very small number of historic non-food contracts and “would account for less than 0.5 per cent of UK total purchases that we bought at that time.”Compass said it had gone through a significant turnaround, resulting in increased transparency and new supply contracts. It also appointed a new commercial team.It said all of its products and services were checked against external industry indicators “on a regular basis to ensure we offer our customers the best possible value for money whilst earning a margin for the UK business of 6.4 per cent.”Last week cabinet secretary Francis Maude told government suppliers he expected them to be more transparent in their dealings. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comlast_img read more

Lord Browne’s US fund is mulling a bid for auctioned BP assets

first_img Lord Browne’s US fund is mulling a bid for auctioned BP assets Show Comments ▼ More From Our Partners Kansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comColin Kaepernick to publish book on abolishing the policethegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA 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 LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo whatsapp FORMER BP chief Lord Browne is considering buying businesses from his former firm as BP divests assets to raise cash for its US lawsuit.Riverstone, the US private equity house at which Browne is now a partner, is reportedly considering bids for BP businesses being auctioned. Assets include its Canadian natural gas liquids processing facilities worth $2bn (£1.3bn), recently put up for sale.The move would mark a return to managing assets that Browne managed during his tenure at BP’s helm, Sky News reported yesterday. Browne is credited with building BP into a global energy player before handing it over to Tony Hayward in 2007.There is no guarantee that Riverstone will make any formal bids, the report said. The assets have been put up for sale to raise an estimated $30bn for use as BP fights a $21bn US government lawsuit resulting from the Gulf of Mexico oil spill this year. BP announced last week that it will sell oil-producing blocks in Pakistan to a Hong Kong investor, UEG, for $775m, in a move that will take its total raised to $22bn.New York-based Riverstone, which specialises in energy investments, has also reportedly been mulling a bid for Shell-owned oil fields in Nigeria. center_img Share Wednesday 22 December 2010 8:43 pm KCS-content whatsapp Tags: NULLlast_img read more

Simon set to sign £3bn loan to fund Capital Shopping Centres takeover

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition KCS-content ALL EYES will be on US real estate firm Simon Property this week as it signs loan agreements to fund a formal bid for UK mall owner Capital Shopping Centres worth around £3bn. Simon has until 12 January to formalise its 425p per share offer for the FTSE 100-listed firm after the City”s Takeover Panel issued a “put up or shut up” notice last month. America’s biggest retail property group Simon said last week it had agreed terms for a loan of around £3bn with Citigroup, Deutsche Bank, Goldman Sachs and Morgan Stanley. The loan facility announced would more than cover a bid at 425p per share, excluding Simon’s existing 5.1 per cent stake, though the exact terms of the loan are not finalised.Analysts have previously voiced concerns that a bid at the current price would not be enough to persuade CSC investors to sell their stakes. Simon first approached Capital in November, in an attempt to frustrate the firm’s £1.6bn deal to buy the Trafford Centre near Manchester.Simon has said it will not make a deal unless the Trafford purchase from Peel Holdings is scrapped, and it has access to CSC’s books to undertake due diligence. Capital has so far rejected Simon’s requests. Capital is due to hold a shareholder meeting on 26 January to approve the takeover of the Trafford Centre, after delaying the vote in the wake of Simon’s advances. Show Comments ▼ 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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Simon set to sign £3bn loan to fund Capital Shopping Centres takeover Tuesday 4 January 2011 12:13 amcenter_img whatsapp whatsapp Tags: NULL Share last_img read more

Miliband reaches out to Lib Dems

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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap ED Miliband signalled his willingness to work with the Lib Dems in opposition to spending cuts, saying he wants to form a “big tent” of protestors.The Labour leader, buoyant after his party’s victory in the Oldham by-election, said he is working with the Lib Dems’ deputy leader Simon Hughes to come up with ways to save grants for poor students. Hughes is said to have distanced himself from Miliband.Miliband also admitted he takes advice from his predecessor Gordon Brown but said the former Prime Minister made mistakes. Tags: NULL whatsapp whatsapp Sunday 16 January 2011 10:54 pm center_img KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Show Comments ▼ Share Miliband reaches out to Lib Dems last_img read more

Card spending boom boosts Amex profits

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite 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 whatsapp Monday 24 January 2011 8:47 pm Card spending boom boosts Amex profits More From Our Partners Astounding 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.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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Sharecenter_img whatsapp US CREDIT card lender American Express reported fourth-quarter profits of $1.1bn (£687.8m), up 48 per cent from $716m a year ago.An increase in the use of cards worldwide helped to drive card member spending up by 15 per cent to a record $1.2bn, from $1bn, reflecting higher merchant-related revenues.Fewer overdue payments also helped the company to trim loss reserves, with consolidated provisions for losses totalling $239m, down from $748m in the year-ago period, reflecting continued improvement in credit quality. Consolidated total revenues hit $7.3bn at the fourth quarter, up 13 per cent from $6.5bn a year ago. Amex last week said it would cut around 550 jobs as part of a restructuring process at the company designed to reflect a decline in service volumes, after consumers took to the internet to conduct more routine transactions. Chairman and chief executive officer Kenneth I. Chenault said: “Unemployment levels and housing remain a concern, but other aspects of the economy continue to show signs of improvement.“While we continue to retain the flexibility to scale back our investments as business conditions change, the progress we made during 2010 has put us in a strong competitive position for the next phase of the economic recovery.” American Express, which lends directly to consumers but also competes with Visa and MasterCard to process credit card transactions, has recovered from the financial crisis more fully than many other consumer lenders. Show Comments ▼ KCS-content Tags: NULLlast_img read more

Pricing the future of 140 characters

first_imgSunday 13 February 2011 11:13 pm Share whatsapp Show Comments ▼ Tags: NULL whatsapp Pricing the future of 140 characters THE $10bn price tag for Twitter puts its valuation at 222 times revenue, using estimated figures for 2010. Even if the site comes good on projections that ad income will hit $250m in 2012, the multiple is still 40 times revenue – a fancy amount for a business that is yet to turn a profit.A potential buyer will need more than that if it’s going to put this much cash on the table. And Twitter can learn from its suitors how best to approach the next phase of its growth. Facebook’s advertising revenue hit $1.86bn last year, and the site accounted for five per cent of all online advertising in 2010. With other income streams bringing the total to around $2bn, a $50bn valuation is a little less ridiculous (albeit still extreme) when compared to the Twitter figures. Twitter is nearly ten years younger than Google, two years behind Facebook, and still has a lot to prove. It is used by just 12 per cent of internet users, compared to Facebook’s 62 per cent. If it were to pursue a listing, Google’s example would be one to avoid – during its Dutch Auction initial public offering, a series of filing errors and press reports saw the price of its stock drop from around $115 per share to officially start at $85 per share. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut KCS-content last_img read more

King insists a rise in rates is not imminent

first_imgIn two years inflation is likely to fall below the Bank’s target rate — if interests rates rise.l The forecast is based on interest rates increasing to 2.1 per cent by the end of 2011.“There is a high degree of uncertainty, and a wider than usual range of views among committee members around the overall look for inflation Share Wednesday 16 February 2011 8:43 pm MERVYN King yesterday tried to play down expectations that the Monetary Policy Committee (MPC) would imminently start raising interest rates to curb inflation, insisting that it would be a “futile gesture”. Unveiling the Bank of England’s quarterly Inflation Report, in which it lowered its forecast for economic growth this year from 2.6 per cent to around two per cent and confirmed that inflation could reach five per cent before June – more than double its two per cent target for the consumer prices index (CPI), the governor said that people were “running ahead of themselves in saying we are pre-announcing, or laying the ground, for a rate rise.”Despite King’s protestations, economists yesterday said the growth forecasts contained in the report indicated a hike in just three months’ time in May. Under the Bank’s “central projection”, which King stressed was not a “pre-announcement” of policy, rates will rise a quarter point to 0.75 per cent in the next four months and to one per cent by the end of the year. By the end of 2012, rates will be at two per cent and at three per cent by the end of 2013. “The Inflation Report projects that inflation is as likely to be above target as below target 2-3 years ahead and does imply that the MPC is likely to hike rates soon, in the next few months, unless there are major disinflationary surprise,” said Michael Saunders at Citi. Economists at both RBS and Barclays brought forward their rate rise expectations to May after the report. Nomura economist Philip Rush said that King’s personal scepticism about the urgency of action to tackle Britain’s above-target inflation may lie behind the divergence in tone between the Inflation Report and his own comments downplaying a rise. “The forecasts are the MPC’s collective judgment, whereas what King says often seems to verge off more to his dovish stance,” he added. The Inflation Report confirmed the divisions on the rate-setting Monetary Policy Committee, saying there was a “wider than usual range of views” on both growth and inflation. Economists interpreted the disclosure as evidence that Andrew Sentance and Martin Weale have been joined by at least one other MPC member in calling for a rate hike.BANK OF ENGLAND INFLATION REPORT – MAIN POINTS”True clothing prices were around 5.5 per cent higher than measured in the CPI, equivalent to adding around 0.3 per cent to aggregate annual CPI inflation” whatsapp Show Comments ▼center_img 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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm KCS-content King insists a rise in rates is not imminent whatsapp Tags: NULLlast_img read more