Hands’ firm falls short of Walker disclosure goals

first_img whatsapp Share Tags: NULL whatsapp SEVERAL private equity companies including Guy Hands’ vehicle Terra Firma fell short of the Walker guidelines this year, the group responsible for policing the transparency rules said yesterday. Terra Firma withdrew Autobahn Tank & Rast from the guidelines because “it is not fully compliant with the UK requirements”, the Guidelines Monitoring Group said. Meanwhile, TPG’s company Vita Group could not be checked as its accounts were not made public until after the review had begun. A spokesperson told City A.M. that Vita no longer had enough employees in the UK to fall under the rules.Most of the 32 companies reviewed had satisfactory disclosure policies. The Walker guidelines were introduced in 2007 to make private equity-backed firms more transparent. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropJournalPregnant Woman Takes a Nap – You Won’t Believe What She Discovered When She WokeJournalCleverstLittle Boy Brings $2 Painting to Antiques Road Show, Not Realizing Who It’s ByCleverstElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent ExpressFamilyMindedThe Most Common Astrology Questions People AskFamilyMinded center_img KCS-content Show Comments ▼ Hands’ firm falls short of Walker disclosure goals More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.org Monday 13 December 2010 9:26 pmlast_img read more

Banker linked to F1 arrested

first_img A former German bank executive has been arrested for allegedly accepting a $50m (£32m) kickback in the 2006 sale of a large stake in the Formula One’s rights holding company, German prosecutors said yesterday. The former risk manager of regional public-sector bank BayernLB was taken into custody on charges of corruption, tax fraud and breach of trust toward his former employer, prosecutors in Munich said in a statement. Gerhard Gribkowsky was in charge of managing the sale of the bank’s F1 stake to London-based buyout group CVC Capital Investment. Show Comments ▼ Wednesday 5 January 2011 9:28 pm KCS-content whatsapp Share Banker linked to F1 arrested Tags: NULL whatsapp 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 ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack 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 Prooflast_img read more

ENRC advised by PwC on UK tax move

first_img ENRC advised by PwC on UK tax move ENRC, the mining group partly-owned by the Kazakh government and listed on the FTSE, has been advised that by relocating to Switzerland it could save itself £20m a year in tax.According to SkyNews, the group was given the advice by its auditors PricewaterhouseCoopers several months ago but the matter has not been considered at board level.Last night ENRC issued a statement saying that it had no plans to change its current arrangements.“ENRC routinely reviews its tax and treasury arrangements to ensure they remain efficient and appropriate for its business. ENRC has no current plans to change its existing arrangements,” it said.In the recent past a host of businesses such as Shire, WPP and Wolseley have relocated out of the UK for tax reasons and further departures would be embarrassing for the government.ENRC has been the subject of much controversy because of a dispute it has had with a rival group over mining assets in the Democratic Republic of Congo.Sources said the PWC plan has not been “actively discussed” and was not acted upon. Thursday 6 January 2011 7:19 pm Share Show Comments ▼ 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’Definitioncenter_img More From Our Partners Native 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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.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.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Tags: NULL whatsapp whatsapp KCS-content last_img read more

Nat BlueStar buys $2bn of Orkla assets

first_imgTuesday 11 January 2011 7:24 pm 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 PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo Show Comments ▼ KCS-content NORWAY’S Orkla has agreed to sell its Elkem unit to China National BlueStar for $2bn (£1.28bn) in one of the biggest industrial takeovers by a Chinese group in Europe.The agreement was reached despite a row between China and Norway over the award of the Nobel Peace Prize to Chinese dissident Liu Xiaobo.Pizzas-to-metals conglomerate Orkla has been looking to slim down its business lines and a sale was widely expected.Orkla said yesterday the transaction covered Elkem’s silicon-related operations such as Elkem Silicon Materials, Elkem Foundry Products, Elkem Carbon and Elkem Solar, but not the energy unit Elkem Energi.The acquisition will give BlueStar, a state-run specialty chemicals company backed by US private equity firm Blackstone Group, access to Elkem’s low-emission smelting technology and silicon output.Elkem produces high-grade silicon for the solar industry and computers among other things.By its own account it serves about half the world’s demand for silicon used in electronic components.Its website says its production methods for solar-grade silicon use a quarter of the energy consumed using traditional technology, making it attractive to China.The deal’s size puts it in the same ballpark as Zhejiang Geely’s $1.8bn purchase of Ford’s Volvo cars unit in 2010 but behind Sinopec’s $7.2bn deal for Swiss Addax Petroleum in 2009. More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel 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.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.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Sharecenter_img whatsapp whatsapp Nat BlueStar buys $2bn of Orkla assets Tags: NULLlast_img read more

Credit Suisse lights up equity markets

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 HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Show Comments ▼ CREDIT Suisse is testing an innovative Light Pool trading platform in the US, and wants to create a new market for long-term institutional investors when it launches fully in March. The platform offers an alternative to both traditional exchanges and to dark pools, where large trades can be executed anonymously. Credit Suisse is responding to demand from its institutional customers to be able to trade on a market where they can post a visible buy-sell query without being negatively affected by opportunistic high-frequency traders. The investment bank has been developing the platform for close to a year, and is optimistic that it will attract a large amount of liquidity once it’s rolled out across all stocks. “Clients want to be able to interact with similar-minded long-term investors,” Credit Suisse’s director of advanced execution services, Dmitri Galinov, told City A.M. Credit Suisse already runs the biggest dark pool in the US, known as Crossfinder. Wednesday 12 January 2011 8:02 pm Credit Suisse lights up equity markets whatsapp KCS-content center_img whatsapp Share More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding 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: NULLlast_img read more

UBS returns to profit

first_imgTuesday 8 February 2011 2:47 am UBS returns to profit John Dunne whatsapp Share Show Comments ▼ whatsapp UBS said it expects to win back more money from clients in 2011 and has laid the foundations for a rebound in its investment bank as chief Oswald Gruebel turns around a bank almost felled by the crisis.UBS said it had seen improvement across all its businesses in the fourth quarter – with total net new money of 7.1bn Swiss francs – although inflows were “very small” at its core wealth management unit after 1 billion in the third quarter.“We are optimistic that overall positive net new money inflows will continue in the first quarter. For the full year, we believe that net new money will strengthen noticeably,” UBS said in a statement.Clients rattled by massive writedowns on toxic assets and a tax dispute with the United States had pulled nearly 400bn francs from Switzerland’s biggest bank in recent years.“The results are a relief after the poor results of U.S. brokers and those from Deutsche Bank and even Julius Baer,” said Helvea analyst Peter Thorne. “It is a relief to hear their optimism for 2011.”UBS shares were up 2 percent at 17.86 francs at 0828 GMT, against a slightly weaker European STOXX banks index.Gruebel’s overhaul of the investment bank started to pay off in the fourth quarter as equities and fixed income, commodities and currencies revenues improved, though bigger losses on the bank’s own credit, as well as losses on student loans, kept net profit to just 75m Swiss francs (£48.53m) after a surprise loss for the previous three months.UBS described the investment bank results as “unsatisfactory in relation to our ambitions” but expects some improvement in the business’s trading results in the first quarter, though this depended largely on market conditions.UBS was forced to cut risky but potentially very profitable proprietary trading in favour of client flow business after it took huge losses in the financial crisis pushing it to take a bailout from the Swiss government in 2008.“While we made substantial progress in 2010, we are fully aware that we have to continue to improve our results,” Gruebel said in a statement. Tags: NULL 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’Sportsnautlast_img read more

Advisers line up for the biggest deal in town

first_img WHEN you’re trying to build up a franchise in mergers and acquisitions, there’s nothing better than being signed up to work on one of the biggest deals in town.So naturally Barclays Capital and RBC Capital Markets were as pleased as punch to be advising the London Stock Exchange on its £4.3bn merger with Canada’s TMX. (Note that the long-term corporate brokers JP Morgan Cazenove and Nomura are not working on the transaction).Barclays Capital has been quietly picking up corporate broking mandates and recently hired Richard Taylor from Bank of America Merrill Lynch to join a team that already includes former Morgan Stanleyite Mark Warham and Matthew Ponsonby.Last year BarCap advised on Resolution’s bid for Friends Provident where it worked on the transaction with RBC Capital Markets, which is fast gaining a reputation for being one of the most aggressive hiring banks in town, as well as one of the more innovative. Some view the Royal Bank of Canada-owned firm as the Manchester City of the financial markets, with rival firms often unable or unwilling to match the pay packages on offer to potential joiners.The experienced player on the deal though is Morgan Stanley and its involvement underlines a significant return to form for a bank which suffered in the immediate aftermath of the credit crunch and was only stabilised in 2008 after Mitsubishi bought a 21 per cent supportive shareholding. Morgan Stanley had an enormously successful 2010, advising on the BSkyB News Corp deal, Sanofi Genzyme deal and International Power GDF Suez deal, to name but a few. Its LSE team includes Simon Robey, one of the doyens of the UK investment banking scene, Chris Carter (who is originally from Toronto), Matthew Jarman and Dougal McDonald.CHAUCER’S TALEA niche advisory firm, Willis Capital Markets and Advisory Services, has been selected to advise the Lloyd’s insurance broking group Chaucer – valued at around £350m – in its response to bid approaches.Willis, which is working alongside financial adviser Kinmont, won the gig after giving Chaucer some specific unrelated advice ahead of the recent approach from Guy Hands’ Terra Firma. Lexicon drops out of the team. Former Bank of America Merrill Lynch man Tony Ursano leads Willis. [email protected] KCS-content Monday 14 February 2011 9:08 pm More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Tags: NULL Show Comments ▼center_img Advisers line up for the biggest deal in town whatsapp Share whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndolast_img read more

Beazley chairman to step down

first_img Tags: NULL KCS-content Lloyd’s insurer Beazley’s chairman Jonathan Agnew said yesterday he would not seek re-election at its 2012 annual general meeting. Agnew, a former Kleinwort Benson chief executive and chairman of Nationwide Building Society, has chaired Beazley since 2003 and joined its board in 2002. He has just overseen a 60 per cent rise in the firm’s pre-tax profit in 2010. Beazley said it has begun the search for a new non-executive director to become the next chairman. Monday 7 March 2011 8:44 pm Share Beazley chairman to step down 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 WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap whatsapp Show Comments ▼ whatsapplast_img read more

Facebook hires Google exec to lead M&A efforts

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 AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Monday 14 March 2011 3:53 pm Tags: NULL whatsapp Facebook has hired one Google’s business development executives to lead its fledgling merger and acquisition efforts.In a sign the world’s No. 1 internet social network has a growing appetite for deals, Amin Zoufonoun, a director of corporate development at Google, will join Facebook next week.The move – the latest development in the rivalry between the two internet powers – comes as Facebook steps up its acquisitions, which to date have primarily been small start-ups it has bought for engineering talent rather than actual products.“I think for sure over time they expect to do bigger and bigger deals,” said a source familiar with the matter.“They’ve certainly got the stock and cash to do those kinds of things. So I expect them to be more active.”Privately-held Facebook recently raised $1.5bn (£932m) from investors including Goldman Sachs and Digital Sky Technologies, as well as through a private offering to overseas investors conducted by Goldman Sachs, at a valuation of roughly $50bn.Earlier this month, investment firm General Atlantic bought a stake in Facebook at a $65bn valuation, according to a report on CNBC.Zoufonoun, who has worked at Google since 2003, according to a biography on LinkedIn, will report to Facebook’s Vaughan Smith, who oversees the company’s overall corporate development efforts. But Zoufonoun will become the key person overseeing Facebook’s M&A efforts, according to the source, who wished to remain anonymous.“He’s really going over there to build some professionalism into the team and to hire folks,” said the source.A Facebook spokesperson confirmed the move but declined to provide further comment. Google had no immediate comment.Last year, Facebook acquired ten companies, its most ever, including location service HotPotato and Chai Labs. The blog Inside Facebook quoted Smith as saying the company hoped to do “doublish” the number of deals in 2011.Zoufonoun’s move is the latest sign of Facebook’s ambitious expansion plans and underscores the rivalry between the social networking company and Google. Facebook hires Google exec to lead M&A efforts center_img Share 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’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’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Show Comments ▼ alison.lock last_img read more

Eurozone industrial output accelerates

first_img Eurozone industrial output accelerates Tags: NULL 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 WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’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’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Industrial output excluding energy accelerated in the eurozone in January as manufacturing picked up in a number of core bloc members.Production in the 17 countries using the euro rose by 0.3 per cent compared with December, despite a 3.1 per cent fall in energy production, the European Union’s statistics office Eurostat said. On an annual basis, the increase was 6.6 per cent, marginally greater than the expected 6.4 per cent.But conditions in peripheral nations such as in Portugal and Ireland declined, with Portugal’s manufacturing falling by 4.2 per cent.Howard Archer, chief economist at Global Insight, described the growth as “solid if unspectacular”. “Eurozone industrial production was somewhat distorted over December 2010 and January 2011 by severe weather in December in some countries hitting manufacturing output but boosting energy output,” he said.“Looking through these distortions, the underlying performance of the eurozone manufacturing sector clearly remains robust at the moment.”Markit chief economist Chris Williamson said he expected the rate of growth “to improve markedly” in February but warned that global events such as the tsunami in Japan would affect global progress.December’s figures were revised up significantly to show a gain of 0.3 per cent month-on-month from a previous 0.1 per cent fall and to an annual rise of 8.8 per cent from eight per cent.The revision suggested the cold snap had not hampered activity as much as initially thought. Of ten eurozone countries for which data was available, production rose in Estonia, France, Germany, Malta, Slovakia and Spain and fell in Finland, Ireland, Italy and Portugal. alison.lock whatsapp Show Comments ▼ whatsapp Share Monday 14 March 2011 9:22 amlast_img read more