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EU’s Oettinger: German nuclear deal is fair

first_img European Union energy commissioner Gunether Oettinger yesterday welcomed Germany’s nuclear energy move made by the government on Sunday, saying plans to grant nuclear plants longer life cycles tied in with wider energy plans for the bloc.Talking to reporters at an energy conference in Munich, he said: “The EU wants to lay down a focus for the next 10 years of energy policy in the winter and Germany’s decision fits in exactly at the right time.”The compromise between chancellor Angela Merkel, utilities and many other stakeholders was “fair”, he said. “I am also pleased that additional funds for renewables will be brought in as part of the provisions.” Burdens from the deal for utilities in the shape of a fuel tax and funds that they have to provide to the promotion of renewable energies, would probably be shouldered. “I am certain everyone’s done their sums and it was correctly measured.”Oettinger also said he was convinced the plan would stand up to possible challenges in constitutional courts. The EU Commission was planning soon to get directives on the way that would aim to solve nuclear waste repository issues, he added. whatsapp Show Comments ▼ EU’s Oettinger: German nuclear deal is fair 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 Proofcenter_img Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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.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 HeraldCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fan KCS-content Tags: NULL Monday 6 September 2010 8:17 pmlast_img read more

Future growth needs freedom now

first_imgTuesday 21 September 2010 7:14 pm Future growth needs freedom now KCS-content Show Comments ▼ whatsapp center_img Tags: NULL whatsapp Share RICHARD WELLINGSDEPUTY EDITORIAL DIRECTOR, IEAWHEN the Soviet Union collapsed it seemed obvious that economic freedom was essential if individuals and societies were to thrive. But in the 20 years since, the enemies of liberty have fought back. The vested interests and bureaucracies that rely on big government have increasingly used environmental objectives and notions of social inclusion and fairness to justify imposing new taxes and controls on business activities.The recent recession has provided opponents of economic freedom with still more ammunition. A slump caused primarily by loose monetary policy, ill-conceived regulations and flawed US housing policies has been widely misrepresented as an example of market failure. In this context, the latest edition of Economic Freedom of the World is depressing reading. This year’s report includes data from 2008, when the slowdown really kicked in. It shows the first decline in global economic freedom for decades, as governments responded to the crisis by ratcheting up the level of state intervention with bank bailouts, tighter financial regulations and Keynesian stimulus measures.The UK is no exception to the negative global trend, but there is one big difference. Economic freedom in Britain began to be eroded at the end of the 1990s, well before the credit crunch hit. In the last decade the country’s rank has fallen from sixth freest to 10th freest. The UK may well drop out of the top 10 next year. This trend is very worrying. There is a strong long-term correlation between economic freedom and economic growth. Low taxes and light-touch regulation provide an environment in which entrepreneurs can flourish and generate the wealth that lifts people out of poverty. Yet Britain’s policymakers appear to have lost sight of this key lesson. Prosperity has been taken for granted and resources have increasingly been transferred from productive businesses to non-productive government spending in order to pursue social objectives and satisfy vocal interest groups. Such policies have helped create record peacetime budget deficits and are no longer sustainable. British policymakers therefore need to rediscover the importance of economic freedom. A credible deficit reduction programme is a good start. In five years’ time, the government forecasts that public spending as a share of GDP will be significantly lower than it is today. But the coalition needs to go much further to make the UK once again one of the world’s most competitive and dynamic economies. A systematic programme of deregulation should be a key priority and the vast majority of controls imposed in the past decade should be rescinded. At the same time, counterproductive tax rises on high-earners and investors should be reversed and tax cuts for wealth creators introduced at the earliest opportunity. This is the best way to avoid a double-dip recession. Dr Richard Wellings is deputy editorial director at the Institute of Economic Affairs (www.iea.org.uk) last_img read more

Goldman traders to join KKR

first_img More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.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.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Thursday 21 October 2010 8:36 pm Share Goldman traders to join KKR whatsapp whatsappcenter_img KCS-content 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 PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Kohlberg Kravis & Roberts (KKR) is hiring part of Goldman Sachs’ proprietary trading team, in the latest sign of private equity firms widening their business beyond pure leveraged buyouts.Goldman’s proprietary trading desk is being shut down in light of the “Volcker rule”, which limits the extent to which banks can bet with their own capital. The exodus of traders gives KKR an opportunity to expand its business areas further, moving into the potentially lucrative long/short hedge fund space. Goldman has said proprietary trading accounts for as much as 10 per cent of its revenue.In a sign of their appeal, the Goldman traders had been in talks with a number of investment firms such as Perella Weinberg and BlackRock before settling on KKR, sources previously said. The transaction will see KKR hire about nine Goldman traders, led by Bob Howard, who heads Principal Strategies for Goldman’s US business. The team will be part of KKR’s asset management unit, which manages $13bn (£8.3bn), and will join early in 2011.KKR is likely to launch a long/short hedge fund next year, a source familiar with the situation said. KKR co-founders Henry Kravis and George Roberts said in a statement that the move is part of a strategic build-out of its asset management platform. Private equity firms have been expanding from their traditional bread and butter business of striking leveraged buyout deals in recent years, as the industry matures. Tags: NULLlast_img read more

It’s grim up North for Apprentice fashionistas

first_img THERE are many sides to Lord Sugar. It isn’t all lounging in ermine and plugging his new autobiography – he’s also a dedicated follower of fashion. “London is one of the most fashionable cities in the world”, he informed his would-be Apprentices, quite a shock for those of us who assumed this devil wore M&S. Having gathered them to the London Fashion Retail Academy, their next challenge was selecting stock from new designers to flog in a shopping centre.Not everyone shared Lord Sugar’s enthusiasm. Stuart declared that clothes were “the most boring thing in the whole world”, quite a claim considering he lives on the Isle of Man.Luckily he was on the same team as Alex, who knows a few things about selling clothes, and was keen to share his wisdom: “Selling clothes is all about seduction”. Stick to what you know, eh? For the others, it wasn’t clothes that worried them but the rural backwater they’d have to sell them in: Manchester. “I’m not a big knowledge of Manchester”, confessed Jamie (who, incidentally “doesn’t do fashion”). Or grammar, apparently. He decided Mancunians were a few years behind London stylewise. “You go to clubs in Manchester and you still have to wear shoes”. No time for Jamie to expand on the benefits of the barefoot look: it was time to open the shops. The two teams had different ideas of what Manchester needed. Synergy kept it cheap and sparkly with Strictly knock-offs while Apollo went for £300 dresses made of recycled ties and suits. The sales techniques were a little lacklustre. “We’re up from LONDON” they trilled, though oddly the very mention of the capital wasn’t enough to get the tills ringing. Over to self-described retail guru Alex to show us how it’s done: “How about we pretend we’ve got Fearne Cotton and Alesha Dixon in the store?” he mused. Because we don’t, came the answer. Having failed to seduce, Paloma chose Alex for the boardroom and sales figures were ignored in favour of a discussion of just how infuriating he was. Extremely, thought Paloma. Not totally irritating, reasoned Nick. Perhaps feeling some pity Lord Sugar spared Alex; after a failed challenge and endless buck-passing, Lord Sugar finally lost his faith in Paloma. KCS-content More From Our Partners Sidney Crosby, Alex Ovechkin are graying and frayingnypost.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.comA 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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Wednesday 3 November 2010 9:35 pm Show Comments ▼ whatsapp whatsapp Share It’s grim up North for Apprentice fashionistas Tags: NULLlast_img read more

Saudi Airlines buys Boeings

first_imgSunday 7 November 2010 8:10 pm whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe 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 Tags: NULL 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 HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Saudi Airlines buys Boeings Sharecenter_img KCS-content Saudi Arabian Airlines ordered 12 Boeing 777-300 “Extended Range” (ER) planes for $3.3bn (£2.04bn), with an option for 10 more 777s, the US firm Boeing (BA.N) said yesterday.The national carrier, which is in the process of being privatised, also ordered eight Boeing 787 dreamliners for its long- haul fleet but did not give a price for that order. “Our decision to order the 777-300 ER is part of a long-term growth strategy,” said the airline’s director Khaled al-Mulhim. Show Comments ▼ whatsapplast_img read more

Ex-car czar Rattner sued by NY

first_imgThursday 18 November 2010 7:46 pm whatsapp Ex-car czar Rattner sued by NY KCS-content Show Comments ▼ whatsapp Sharecenter_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 Steven Rattner, the former Obama administration auto industry czar, was yesterday sued by New York’s attorney general Andrew Cuomo for allegedly paying kickbacks to win investments from the state’s public pension fund. Rattner separately settled a related US Securities and Exchange Commission (SEC) civil lawsuit, agreeing to pay $6.2m (£3.9m) and accept a two-year ban from working with an investment adviser or broker-dealer. That accord requires court approval. Cuomo and the SEC alleged Rattner entered quid pro quo arrangements with the New York State Common Retirement Fund to obtain $150m in investments for his private equity firm, Quadrangle Group, in 2005 and 2006. 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 The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Tags: NULLlast_img read more

LSE

first_img Share whatsapp KCS-content LSE has not had an easy time so far this year, after it was shuffled out of the FTSE 100 in June. Following the worst of the financial crisis, 2010 has seen nervous investors shuttle into bonds and out of equities, partly explaining why the company’s revenues saw barely any change.Its results yesterday benefited from a one-off gain of £5.6m after renegotiating VAT calculations with the Treasury, but they were otherwise right on consensus, with operating profit of £155m. Still, despite growing fragmentation in the marketplace, LSE is well-placed to compete in Europe.It maintains a dominant market share in the UK and with its move into high-frequency trading (albeit slightly marred by suspected sabotage), it has proved that, with some prodding, it is ready to move with the times. [email protected] 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 Thursday 18 November 2010 8:33 pm whatsapp Tags: NULL LSE Show Comments ▼last_img read more

Deloitte fails to convince Roland Berger to merge

first_img More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com KCS-content whatsapp PLANS to merge Roland Berger Strategy Consultants with Deloitte Touche Tohmatsu have fallen through after the Munich-based firm rejected the advances.The two had been in advanced talks but directors at Berger overwhelmingly voted to remain independent.Talks between the two firms had progressed so far it is believed they had already decided upon a new chief executive and were examining possible regulatory hurdles.The merger talks came after rival Aon’s $4.9bn (£3.1bn) acquisition of Hewitt Associates, with the management consultancy sector continuing to consolidate. It is understood Berger founder Roland Berger, along with a number of partners in the firm, has agreed to invest around £43m in growing the company.Roland Berger began as a one-man company in 1967 with a focus on marketing consulting. In 2009, the company generated €616m in sales and employed 2,000 staff worldwide. Deloitte fails to convince Roland Berger to merge 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 The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comcenter_img Share whatsapp Monday 22 November 2010 6:23 am Show Comments ▼ Tags: NULLlast_img read more

UK will not take part in new bailout mechanism

first_img KCS-content More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.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 whatsapp Show Comments ▼ UK will not take part in new bailout mechanism Sunday 28 November 2010 9:22 pmcenter_img whatsapp Tags: NULL 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 Famous, Now She Works In {State}MoneyPailUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemUndo Share THE UK will not take part in new rescue fund for troubled Eurozone nations.Chancellor George Osborne won an important concession from the EU in return for pledging a bi-lateral loan of €3.8bn (£3.23bn) to Ireland.The UK will not contribute to the a new fund, due to replace the European Financial Stability Mechanism (EFSM) in 2013. It currently has a share in the €60bn fund but is not a part of the €566bn European Financial Stability Fund (EFSF), also due to be replaced.The move means the UK will be less exposed to Eurozone crises moving forward and is likely to please Tory eurosceptics.Germany and France have championed the proposals for the new mechanism and are supported by the European Commission.Key changes to the fund will mean vastly increased private sector involvement in the resolution of future Eurozone debt crises. The new rules will also differentiate between liquidity and solvency crises in the 16 Eurozone countries. last_img read more

South east hardest hit in recession

first_imgWednesday 8 December 2010 8:18 pm LONDON bore the biggest brunt of the recession last year, official data revealed yesterday.The capital’s economy contracted by 2.6 per cent in 2009, after growing by 3.9 per cent the year before. The drop was the largest for all UK regions.And London lost 192,000 jobs during the year, the highest number in the country. Most jobs were lost in business, finance and insurance, according to the Office for National Statistics (ONS).However, the city still leads the country in terms of wealth creation. London’s gross value added (GVA) per head, which measures individual contribution to the economy, was £34,200 – still 71.2 per cent above the UK average, despite the recession.And 28.7 per cent of the country’s employees work in London and the south east, the report showed.For the first time since the data series began in 1989, every region saw a fall in GVA, and employment was down in all regions except the south west.The total number of employees in Great Britain for 2009 was 26.2m, down by 783,000 – 2.9 per cent – on the previous year. The south east – excluding London – suffered a 3.5 per cent fall in its overall GVA, which is used as an estimate of economic activity.Yet economists expect a turnaround in the data as the recovery gains strength. In 2009 the economy contracted by five per cent, yet the Office for Budget Responsibility (OBR) has forecasted 1.8 per cent growth for this year, and 2.1 per cent next year.And employment is projected to grow by 1.1m by 2015, according to the OBR’s forecasts. whatsapp Tags: NULL More From Our Partners Brave 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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com whatsappcenter_img Share South east hardest hit in recession Show Comments ▼ KCS-content 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 Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemlast_img read more