September 2021

Deutsche Bank share price up as merger and bailout rumours shot down

Shares in Deutsche Bank are trading up today after the German banking giant’s chairman silenced murmurs of mergers and bailouts. The share price for the country’s biggest bank had a turbulent 2016, particularly after it was revealed in September that the US Department of Justice was considering slapping the lender with a fine of as much as $14bn (£11.4bn) for mis-selling mortgage-backed securities. The bank settled for a comparatively small $7.2bn last month. Read more: Trump’s unhappy fate: To oversee a financial crisis far worse than the lastShares in Deutsche Bank are up 1.9 per cent at €17.57 at time of writing, as the European markets carried on trading while the UK enjoyed a bank holiday break. [charts-share-price id=”731″]However, investors had another reason to be cheerful today, after the latest manufacturing Purchasing Managers’ Index showed the sector in Germany was performing particularly strongly. Shares in the banking giant took a nasty tumble late last year when it was reported German Chancellor Angela Merkel may be unwilling to extend a bailout to the struggling lender, even given the size of the fine it was facing.  There have already been some predictions on what Deutsche Bank will do to pay the fine, with speculation having already surfaced the bank will be slashing bonuses. The lender has also already undergone considerable restructuring efforts, notably its Strategy 2020 turnaround plan, which was initially announced in October 2015. Read more: Cartels of banks fined by Swiss watchdog for rate riggingBut, chairman Paul Achleitner has ruled out merging with another European bank and receiving state aid as being among Deutsche’s options.”The management board in principle looks at everything that could help the business…At the moment, however, enthusiasm for a pan-European merger is muted as we have other priorities,” Achleitner told Frankfurter Allgemeine Sonntagszeitung over the weekend.And, on the possibility of a state bailout, Achleitner remarked: “No one in Germany needs to worry about rescuing banks.” Hayley Kirton whatsapp Share Deutsche Bank share price up as merger and bailout rumours shot down Monday 2 January 2017 1:28 pm whatsapp Read more: Why the ECB could be in for a tougher time following the Trump victoryThis is not the first time in recent history the bank has pushed back on suggestions a merger could be in the pipeline. Last August, it was rumoured Deutsche Bank could be merging with fellow German lender Commerzbank, but this was quickly laid to rest. Meanwhile, a number of key industry voices, including those from the European Central Bank, have warned the continent currently has far too many lenders and have called for consolidation across the banking industry. Deutsche Bank is due to announce its preliminary results for 2016 on 2 February. For its 2015 full year results, the lender revealed it had plunged €6.8bn into the red, its first full year loss since 2008.  Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveUndoHouse CoastPregnant Beggar Was Asking for Help, But Then One Woman Followed HerHouse CoastUndo read more

Santander to slash UK costs as part of bid to save €1.2bn across Europe

first_img whatsapp Read more: Santander UK profits slump 14 per cent in “uncertain” environment for banksIt said around €1bn of those savings would come from its European cost base, made up of the UK, Spain, Portugal and Poland.The move would help the bank meet profitability targets of 13 to 15 per cent return on tangible equity in the next three years, it said, – compared with 11.7 per cent in 2018.Earlier this year spanish owner Banco Santander announced plans to shut 140 UK branches, putting 1,270 jobs at risk.In a presentation to shareholders, chief executive Jose Antonio Alvarez said the UK business would focus on cost management and enhancing efficiency through digitalising the bank. Callum Keown Santander has unveiled plans to slash costs by a further €1.2bn (£1.03bn) in its European operations, including its UK business.The bank said it would aim for incremental annual cost savings of €1.2bn through focusing on scale and efficiency – with a tenth of that hitting Santander UK. Wednesday 3 April 2019 12:27 pm Santander to slash UK costs as part of bid to save €1.2bn across Europe center_img Share whatsapp Shared services used across the bank’s regions, including the UK, will also be streamlined to save €220m of the €1.2bn target.The bank also pledged to invest more than €20bn into digital and technology advancements over the next four years.Read more: Santander cuts 140 branches – putting 1270 jobs at riskChairman Ana Botin said: “Technology is changing banking as we know it and we are positioning the company to capitalise on the world class assets we have across the group, including our technology, talent and scale.”“This will allow us to benefit from the opportunities presented by digital innovation and will result in us becoming a digital leader in global financial services for the next decade.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemMisterStoryWoman files for divorce after seeing this photoMisterStoryDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funny Tags: Trading Archivelast_img read more

Gloomy UK drags down economic confidence in the EU

first_imgTuesday 28 May 2019 12:57 pm Economic sentiment in the UK fell dramatically in May as confidence in the industry sector hit its lowest level in 11 months, according to figures from the European Commission.Read more: UK business confidence lowest since 2012, says BDO Read more: Eurozone sees weak growth in May amid stagnant demandHe added: “But it is not enough to fully reverse its fall in April, and does not change our view that economic growth probably dropped back to around 0.2 per cent quarter on quarter in the second quarter.” Harry Robertson Tags: Trading Archive British gloom held down sentiment in the European Union as a whole, with the Commission’s economic sentiment indicator (ESI) remaining broadly stable in May at 103.8. A score of over 100 is above the long-term average.The Eurozone’s score of 105.1 in May marked the first rise in sentiment for the currency area in 11 months, which had fallen from 111.8 in June 2018 to 103.9 in April in the Commission’s monthly surveys.Europe’s economies have struggled in recent months amid a raging US-China trade war, ongoing Brexit negotiations, and a slowdown in Germany, the continent’s biggest economy.Britain registered a sentiment score of 94.5 in May, below the long term average and 4.8 points lower than April’s figure.Confidence fell in each one of Britain’s industry, services, consumer, retail trade and construction sectors as uncertainty over the country’s final relationship with the EU continues to loom large. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.com Things were markedly different in the euro area, where economic sentiment in France rose by four points to 104.8, boosted by a growth in optimism in industry and services businesses polled by the Commission.Andrew Kenningham, chief Europe economist at Capital Economics, noted that “consumer confidence also rose and has now recovered to pre-gilet jaunes levels,” referencing the so-called yellow vest protests that rocked French cities from November 2018.In the Eurozone, industry confidence saw the first solid improvement in thirteen months, as managers expected to see a considerable rise in production.However, it appeared that managers thought domestic demand would drive production as they reported the biggest decline in export order books in over six years.Kenningham said: “The small increase in the Eurozone’s economic sentiment indicator is a welcome bit of good news.”center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm Oraclebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyMisterStoryWoman files for divorce after seeing this photoMisterStoryHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGem whatsapp Gloomy UK drags down economic confidence in the EU Sharelast_img read more

No-deal Brexit fears have increased, Carney warns

first_img“In the event that the policy of the government were to switch, the forecast of the Bank of England would switch accordingly,” he said. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionMisterStoryWoman files for divorce after seeing this photoMisterStoryUnderstand Solar$0 Down Solar in Scottsdale. How Much Can You Save? Try Our Free Solar Calculator Now.Understand SolarNext RefinanceThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryNext RefinanceDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funny He said that both Conservative Party leadership candidates – Boris Johnson and Jeremy Hunt – had said it was preferable to reach a deal with the EU if possible.  “As best as I can tell, this uncertainty effect that has been weighing on business, and particularly business investment, is continuing to operate. Share Read more: 150,000 firms not ready for a no-deal Brexit, Mark Carney says Wednesday 26 June 2019 11:53 am whatsapp Jessica Clark Read more: Mark Carney cautiously welcomes Facebook’s new currency Libra “Expectations of no deal have gone up in markets, that uncertainty is still there for business and that is affecting the short term economic performance.”center_img Carney added that the BoE would only factor a no-deal Brexit into its economic forecasts if the next prime minister announces plans to leave the EU without an agreement.  The uncertainty surrounding the UK’s future relationship with the European Union is having a greater impact on businesses than before the original Brexit deadline date of 29 March. Tags: Brexit whatsapp “The degree of uncertainty [for businesses] is as high as it was just prior to the 29 March deadline. If you squint marginally it’s gone up a bit. No-deal Brexit fears have increased, Bank of England governor Mark Carney warns Market expectations of a no-deal Brexit have increased over the last few months, Bank of England (BoE) governor Mark Carney warned today. “Market expectations of no deal have gone up in recent months. There has been a notable increase,” Carney told the treasury select committee during an evidence session on the BoE’s inflation report.last_img read more

Five memorable times Donald Trump meddled in British politics

first_imgSpeaking in June, he said: “When you’re dealing in trade, everything is on the table. So NHS or anything else or a lot more than that, but everything will be on the table.” A sentiment he reiterated in October, when he told Nigel Farage on LBC Radio: “It’s not for us to have anything to do with your health service. We’re just talking about trade”. whatsapp Michael Searles Read more: Sadiq Khan hails breathtacking heroism after membrs of public tackle terrorist May later revealed that Trump’s advice had been to “sue the European Union”. “I want to be very, very clear that voting for any other party than this government, this Conservative government… is basically tantamount to putting Jeremy Corbyn in,” Johnson said. If he were to comment on the state of British politics, it would not be for the first time. “He’d take you into such bad places. But your country has tremendous potential, it’s a great country.” Here are five times Trump has voiced his opinions on Britain. 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.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com “She probably went the opposite way.” Trump retaliated by calling it a “pathetic excuse”. Following Friday’s tragic attack on London Bridge which claimed the lives of two and injured five, there will be concerns about what the President might say next. whatsapp Johnson may be wary of the impact Trump’s comments could have, but they were certainly reading off the same hymn sheet when Trump berated Corbyn’s ability to lead. 1. NHS hokey cokey With Donald Trump set to arrive in London tonight for a planned Nato summit on Wednesday, Boris Johnson has asked the US President not to interfere with the UK’s general election. “At least 7 dead and 48 wounded in terror attack and Mayor of London says there is ‘no reason to be alarmed!”, Trump said. Read more: London – and Boris Johnson – are bracing for Trump’s arrival Share However, he quickly backtracked on those remarks following criticism from British politicians. Trump has also been very critical of the UK’s handling of Brexit negotiations, particularly under Theresa May’s reign as Prime Minister. Donald Trump has often spoke of his desire to complete a “very big trade deal” with the UK following the conclusion of the Brexit saga. It was a notion quickly dismissed by the Prime Minister, who said the “difficulty” of pacts with other parties was that it increased the risk of “putting Corbyn into Number 10”. He also said her deal would probably “kill” the possibility of a trade deal with the US. In response Khan’s office said the mayor had “more important things to do than respond to Donald Trump’s ill-informed tweet that deliberately takes out of context his remarks”. center_img But whether or not the NHS will be on the table in that deal has been up for debate, with Labour insisting it would be. Tags: Boris Johnson Donald Trump General election 2019 by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersPost FunWoman Refuses To Tip Waiter But Didn’t Realize What She Left At The TablePost FunNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterDefinitionThe Funniest Yard Signs EVER WrittenDefinitionPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past Factoryzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comExplored PlanetPeople Who Make Disneyland The Worst Place On EarthExplored Planet The US President has been engaged in an long-running feud with mayor of London Sadiq Khan dating back to Trump’s remarks about banning Muslims from entering the US in 2015. Monday 2 December 2019 11:40 am “Corbyn would be so bad for your country, he’d be so bad, he’d take you in such a bad way,” the President said. 2. How to get Brexit done This year they have continued to exchange words, with Trump labeling the mayor as a “disaster”, “stone cold loser”, “very dumb” and “destroying the City of London.” 5. Friendly with Farage 4. ‘Corbyn would be so bad’ He said that together, Farage and Johnson would be “an unstoppable force” and suggested they create a pact ahead of the general election. 3. Sadiq Khan is ‘destroying London’ Boris Johnson has urged Donald Trump not to comment on next week’s general election (Getty Images) For Trump, the NHS has been in and out of a possible deal. In 2018, Khan allowed activists to fly a blimp of Trump as a crying baby in a nappy, before Trump said Khan “had done a very bad job on terrorism and crime”. Trump went onto state his belief that Johnson is “fantastic and “the exact right guy for the times”, but whether that is the kind of support Johnson wants is another matter. Read more: Trade expert questions Corbyn’s NHS ‘plot’ bombshell Johnson told reporters last week that it would be “best” if Trump steered clear of speaking about UK politics, with senior Tory figures concerned he could negatively impact their campaign a week out from the election. Speaking to reporters in 2018, he said: “I would have done it much differently. I actually told Theresa May how to do it but she didn’t agree, she didn’t listen to me. She wanted to go a different route. Read more: Boris Johnson says it is “best” if Trump does not interfere with the general election Five memorable times Donald Trump interfered with British politics At the same time, Trump went on to praise Brexit Party leader Nigel Farage with whom he was talking. “I don’t see it being on the table,” he later said. “[The health service is] something that I would not consider part of trade”. It escalated in 2017 following the London Bridge terrorist attack when Trump took to Twitter to criticise Khan.last_img read more

Seeing London’s blind community in a new light

first_img whatsapp Opinion Over the past 10 years, employment rates for this group have dropped from 33 to 26 per cent — and just 10 per cent for those with no sight at all.  Alan PickeringAlan Pickering CBE is President of BESTrustees and a Trustee of a number of pension schemes. These include The Plumbing Industry Pension Scheme which he chairs and the People’s Pension. When you’re blind, getting around takes planning, care, and the kindness of strangers. All kinds of unexpected things become hazards, like street furniture and shared public spaces. For example, electric cars are good for the environment, but they’re silent killers if you’re blind.  Consider, for example, what happened with my first job, at British Rail, where new recruits — whether or not they wanted to be a train driver — went through a sight test. I failed, of course. They gave me a job, but said I’d never get a promotion.  Share (Photo by Catherine Ivill/Getty Images) Alan Pickering is president of BESTrustees. For more details visit visionfoundation.org.uk. For most of the 200,000 blind and partially-sighted people who live here, a shift in the attitudes of both the public and employers would make the biggest difference to their lives.   This is why I am proud to be a supporter of the Vision Foundation, which works to make London accessible for everyone with sight loss and to reduce preventable blindness. They recently reported that 40,000 blind or partially-sighted Londoners of working age are unemployed in our capital. That’s equivalent to 500 London buses’ worth of wasted potential.  And while London’s multi-modal public transport system is wonderful and TfL staff are great, fellow passengers are sometimes less so. I realise that I’m one of the lucky few, by which I mean blind and partially-sighted Londoners who have a job. Doubly lucky because it’s a job that I love. But of course, it’s not the same for everyone. Monday 20 January 2020 4:28 am We’re living in a tight labour market right now. Recruitment is already a challenge for businesses, and it is likely to get even more so in these uncertain times. If ever there was a time to be focusing on what can be done to bring greater diversity to the workplace, that time is now. This is a heartfelt plea from me and the Vision Foundation, asking employers to consider how their businesses can benefit from the unused human capital in our capital.  I was partially sighted when I arrived in London. My sight continued to deteriorate, and by 30 I was blind. However, I have been able to enjoy an endlessly fascinating career and the many things that this great city has to offer. center_img This is something that the Vision Foundation is committed to changing, and I’m proud to add my voice to their call to start seeing the potential of this workforce in waiting. Show Comments ▼ There is also a very positive side to employing someone who has a disability. Positivity is infectious, and that’s good for business. Entry tests are different nowadays, but a disabled person still has to break down barriers before they can begin to prove their value.  And to all my fellow Londoners: let’s start seeing blind and partially-sighted people in a new light.  City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. Sign up to City A.M.’s Midday Update newsletter, delivered to your inbox every lunchtime Sometimes, what someone can’t do is more obvious to a prospective employer than their inherent attributes. But if you give someone with a visual impairment a chance and trust them, they’ll move heaven and earth to be successful — to prove that they can overcome their particular challenge.  whatsapp More From Our Partners A 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.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.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.com Main image credit: Getty London is a wonderful place to live and work. I meant to stay for just two years when I first came here in 1972 from my Yorkshire home. Today, 47 years later, I’m a true Londoner — though still a Yorkshireman at heart.  I can see clearly how to help London’s blind community Tags: Workplace equalitylast_img read more

Chancellor Rishi Sunak to announce wage bailout plan

first_img “I know people are worried about losing their jobs and not being able to pay the rent or mortgage about not having enough set by for food and bills. The government will pay up to 80 per cent, or £2,500, of the salaries of British workers hit by the UK coronavirus crisis in a huge wage bailout. Joe Curtis “I know it’s been tough and inconvenient but these actions we are are all taking are taking the strain off the NHS.” “That means workers in any part of the UK can retain their job even if their employer cannot afford to retain them.” Chancellor Rishi Sunak announced the extraordinary measures today after Prime Minister Boris Johnson ordered all pubs and restaurants, cafes and gyms to shut their doors tonight and not reopen. Any British business, large or small, can apply for a wage bailout if it is struggling from the coronavirus fallout. “Employers will be able to contact HMRC for a grant to cover most of the wages for people who are not working but kept on payroll rather than being laid off,” Sunak said. “The deferral of VAT payments keeps money in the pockets of businesses so that they can pay their people and suppliers, and the commitment to cover wages of those unable to work will allow firms to retain jobs if they are forced to reduce their operations. Rishi Sunak says government will pay 80 per cent of workers’ salaries to avoid coronavirus redundancies (POOL/AFP via Getty Images) Also Read: Coronavirus wage bailout: Government to cover 80 per cent of workers’ salaries up to £2,500 PM sticks to June target to kill coronavirus It comes after the Bank of England slashed UK interest rates to a historic low of 0.1 per cent yesterday. And it also announced £200bn of quantitative easing in a bid to battle the UK coronavirus outbreak. Coronavirus wage bailout: Government to cover 80 per cent of workers’ salaries up to £2,500 “The economic intervention we are announcing today is unprecedented in the history of the British state,” he added.  “We have never had a scheme like this in our country before and we are having to build our systems from scratch,” he added. However, HMRC is working to ensure the first grants are available within weeks, Sunak added. Businesses can apply for the relief from Monday. Meanwhile, the Prime Minister reiterated his three-month target to flatten the curve of the UK coronavirus outbreak. “We’re going to defeat the disease with a huge national effort to slow the spread by reducing unnecessary social contact,” the PM added. Sunak also said he would postpone companies’ VAT payments until June, in business relief worth over £30bn. The chancellor said that was equivalent to 1.5 per cent of GDP. Share Yesterday he had appeared to row back on his aim to have sent the virus “packing” by June. Boris Johnson has formally asked pubs and restaurants to close for the foreseeable future (Photo by MATT DUNHAM / POOL/AFP via Getty Images) But Bectu, a union representing freelancers, criticised Sunak for not including self-employed contractors in his relief. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerbonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funnyzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comGloriousaDrone Captures What No One Was Supposed to SeeGloriousaNoteableyAirport Security Couldn’t Believe These Jaw-Dropping MomentsNoteableyJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USANinjaJournalistCareless Workers Caught In Jaw-Dropping MomentsNinjaJournalist Rishi Sunak says government will pay 80 per cent of workers’ salaries to avoid coronavirus redundancies (POOL/AFP via Getty Images) Also Read: Coronavirus wage bailout: Government to cover 80 per cent of workers’ salaries up to £2,500 whatsapp The NHS is under huge pressure to deal with the UK coronavirus crisis. And this afternoon London’s Northwick Park hospital announced a “critical incident” as it ran out of beds to treat Covid-19 patients. “We are going to do it with testing and new medicines and new technology that can see the disease as it’s transmitted,” Johnson said. “To all those at home right now anxious bout the days ahead – you will not face this alone. But getting through this will require a collective national effort with a role for everyone to play. It’s on all of us.” The government has already pledged £330bn in loans to keep businesses alive as people opt not to go out. Rishi Sunak says government will pay 80 per cent of workers’ salaries to avoid coronavirus redundancies (POOL/AFP via Getty Images) Also Read: Coronavirus wage bailout: Government to cover 80 per cent of workers’ salaries up to £2,500 “I know it’s incredibly difficult out there. We in government are doing everything we can to support you. We are deferring over £30bn taxes to the end of the financial year,” he said. Government defers VAT payments for UK businesses Sunak said the government will back date the wage bailout to 1 March and keep it open for at least three months. Friday 20 March 2020 6:18 pm ‘No limit’ on wage bailout fund “Up to 80 per cent of wages [will be covered], or up to £2,500 a month. Employers can top up salaries further if they choose to. Rishi Sunak says government will pay 80 per cent of workers’ salaries to avoid coronavirus redundancies (POOL/AFP via Getty Images) Also Read: Coronavirus wage bailout: Government to cover 80 per cent of workers’ salaries up to £2,500 Businesses welcome Rishi Sunak’s measures Head of Bectu,Philippa Childs, called it a “devastating blow” for such workers. She said: “This is a landmark package of measures for business, people and jobs. The chancellor’s offer of substantial payroll support, fast access to cash and tax deferral will support the livelihoods of millions. Firms and employees will respond with relief and determination. Rishi Sunak says government will pay 80 per cent of workers’ salaries to avoid coronavirus redundancies (POOL/AFP via Getty Images) Also Read: Coronavirus wage bailout: Government to cover 80 per cent of workers’ salaries up to £2,500 whatsapp And Adam Marshall, director-general of the British Chambers of Commerce, added: “The chancellor has given businesses desperately needed breathing room at this critical moment. Rishi Sunak says government will pay 80 per cent of workers’ salaries to avoid coronavirus redundancies (POOL/AFP via Getty Images) Show Comments ▼ What about the self-employed? Rishi Sunak says government will pay 80 per cent of workers’ salaries to avoid coronavirus redundancies (POOL/AFP via Getty Images) Also Read: Coronavirus wage bailout: Government to cover 80 per cent of workers’ salaries up to £2,500 “The government now needs to go foot-to-floor to ensure that details of the job retention scheme and loan guarantees reach firms on the ground as soon as possible. Given that this situation continues to evolve, ministers must also keep the door open to additional measures to support business cash flow.” The chancellor repeated his call for firms affected by the UK coronavirus outbreak not to make people redundant in return for the huge wage bailout. “These workers are looking to the Cchancellor in desperation for a vital lifeline and he has badly let them down,” she added. “It marks the start of the UK’s economic fightback – an unparalleled joint effort by enterprise and government to help our country emerge from this crisis with the minimum possible damage.  An important day for our country.” Dame Carolyn Fairbairn, CBI director-general, welcomed the intervention. It came as UK coronavirus deaths hit 184 and infections rose to 3,297. The chancellor added he would extend that timescale if necessary, and told businesses there was “no limit” on how much money the government will make available for the scheme. Further cash flow support through the tax system to help businesses pay people and keep them in work deferring next quarter of vat payments – no biz vat payments between now and June.  “It is clear the chancellor simply doesn’t understand the hardship these workers are in- telling them to simply claim universal credit while other workers have their incomes protected is cruel and unfair.” More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orglast_img read more

We clapped for carers – how about a hand for our unsung charity volunteers?

first_img (Getty) (AFP via Getty Images) By cutting red tape, simplifying the grants process and switching decision-making online, City Bridge Trust has been able to channel funding to organisations which need it, when they need it. Monday 17 August 2020 4:00 am whatsapp Tags: Charity City Of London Investment Trust Coronavirus Main image credit: Getty Read more: Covid-19 shone a spotlight on hidden abuse — now we cannot afford to stop fighting Opinion Share The pandemic left in its wake a perfect storm for charities, left to face the twin pressures of surging demand for their services and plummeting income, as the lockdown wreaked havoc on fund-raising activities. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. In particular, the way in which charities and voluntary organisations responded to the unprecedented crisis which changed all our lives back in March has been magnificent to see. In June, City Bridge Trust told all of its existing grantees that they could use funding awarded for specific projects to cover core costs—such as paying rent, wages or electricity bills—for up to a year. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableybonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comDefinitionThe 20 Worst Draft Picks Ever – Ryan Leaf Doesn’t Even Crack The Top 5DefinitionBeach RaiderMom Belly Keeps Growing, Doctor Sees Scan And Calls CopsBeach RaiderOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAMisterStoryWoman files for divorce after seeing this photoMisterStory It’s money which has helped around 1,000 charities and voluntary groups across the capital adapt their services to the new reality created by the pandemic. whatsapp I don’t think it’s an exaggeration to say that without this kind of support many charities could have gone to the wall, and the urgency of their plight required a swift and effective response. Show Comments ▼ There’s a strong desire to ensure a more streamlined, more collaborative approach continues into the post-Covid world, and I’m sure that the Trust, as London’s largest independent funder, will continue to lead the way. But more than that, I believe the pandemic has shown that when public and private sector organisations work together with each other, with charities on the ground and with the communities they serve, we all benefit. We clapped for carers – how about a hand for our unsung charity volunteers? It’s often said that a crisis brings out the best in people, and that has proven to be true during the coronavirus pandemic. Back in March, with an initial £1m each from the Trust and the Mayor of London, the London Community Response Fund was born, offering vital help to charities battling the impact of the pandemic. Catherine McGuinness Back in the darkest days of the lockdown, many of us took to the streets to “clap for carers”, as a visible show of support for the key workers who in many cases risked their lives to ensure that vital services could continue. I hope, and I believe, that the often-unsung heroes who give up their time to enable charities big and small to help vulnerable people across London will also emerge from this crisis with a new-found recognition from a grateful public. The fund has now topped the £25m mark, including £11m from City Bridge Trust, £5m from the Mayor of London, £7m from the National Lottery Community Fund and generous donations from 15 other funders and companies. Many have found themselves at the forefront of the Covid-19 response, delivering food to vulnerable Londoners, providing vital support to our under-pressure NHS, or simply offering a friendly voice on the end of the phone. Read more: City of London Corporation donates £200,000 to cancer charity Funding organisations such as City Bridge Trust, the City of London Corporation’s charitable funder, had to step up to the plate, and I’m proud to say it did just that.last_img read more

Trump tells Republicans: Go ‘much higher’ on stimulus

first_imgHis full tweet read: “Democrats are “heartless”. They don’t want to give STIMULUS PAYMENTS to people who desperately need the money, and whose fault it was NOT that the plague came in from China. Go for the much higher numbers, Republicans, it all comes back to the USA anyway (one way or another!).” Trump urges Republicans to go ‘much higher’ on stimulus US President Donald Trump waded into the stimulus debate yesterday as the White House tries to break the deadlock (AFP via Getty Images) Also Read: Trump urges Republicans to go ‘much higher’ on stimulus Harry Robertson Show Comments ▼ More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comConnecticut man dies after crashing Harley into live bearnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com US Federal Reserve chair Jay Powell yesterday said more fiscal support was required. He has previously expressed concerns that the Fed is being left to do the heavy lifting. Talks between Republicans and Democrats over the next round of stimulus have ground to a halt. The level of unemployment relief has been a major sticking point. US President Donald Trump has encouraged Republicans on Capitol Hill to come up with a more generous stimulus offer, as the White House tries to break the deadlock over the next package. US President Donald Trump waded into the stimulus debate yesterday as the White House tries to break the deadlock (AFP via Getty Images) US President Donald Trump waded into the stimulus debate yesterday as the White House tries to break the deadlock (AFP via Getty Images) Also Read: Trump urges Republicans to go ‘much higher’ on stimulus whatsapp He also said that “some Republicans disagree, but I think I can convince them to go along with that”. However, Trump did not try to reach common ground with Democrats, but blamed them for the deadlock. Thursday 17 September 2020 9:58 am White House chief of staff Mark Meadows told CNBC that he was “probably more optimistic about the potential for a deal in the last 72 hours than I have been in the last 72 days”. Trump’s tweet is a sign that the White House is keen to secure a deal. Asked later in the day whether he supported a roughly $1.5 trillion package proposed by a bipartisan group, Trump said he wanted “something like that”. Trump tweeted yesterday evening: “Go for the much higher numbers, Republicans, it all comes back to the USA anyway (one way or another!)” Share Senate Democrats last week blocked the Republicans’ $500bn (£390bn) stimulus package, arguing that it was not enough. The Democrats want something closer to $2.2 trillion. whatsapp Trump attacks Democrats for deadlock The US economy is set for its worst year in memory. And although it will grow sharply in the third quarter after a terrible second quarter, economists warn that another injection of fiscal stimulus is sorely needed.last_img read more

Goldman Sachs to name fewer than 60 partners, but they’ll get better perks

first_img Anna Menin Such a move would restore a valuable financial perk that has not been available to partners in over a decade. whatsapp Starting this year, partners will receive carried interest – a portion of future profits taxed at low rates – in four of Goldman’s private investment funds, according to the WSJ. whatsapp Goldman Sachs partners own a stake in the lender and are its most elite employees. The bank currently has around 500 partners, but their ranks have been shrinking under chief executive David Solomon.  Goldman Sachs chief executive David Solomon has sought to reduce the number of partners at the bank (AFP via Getty Images) Also Read: Goldman Sachs ‘to name fewer than 60 partners’ in 2020 The bank’s new class of partners, due to be promoted next month, is likely to be Goldman’s smallest cohort since the 1990s, the Wall Street Journal reported.   Tuesday 6 October 2020 3:28 pm City A.M. has reached out to Goldman Sachs for comment.  Show Comments ▼ Goldman Sachs will reportedly name no more than 60 partners this year, but partners will be given more financial perks as the investment banking giant seeks to make its partnership more exclusive.  Goldman Sachs chief executive David Solomon has sought to reduce the number of partners at the bank (AFP via Getty Images) 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.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Goldman Sachs ‘to name fewer than 60 partners’ in 2020 Share Goldman Sachs chief executive David Solomon has sought to reduce the number of partners at the bank (AFP via Getty Images) Also Read: Goldman Sachs ‘to name fewer than 60 partners’ in 2020 The bank will lend partners up to $500,000 (£385,000) to increase their personal investment, the paper reported.  Solomon, who has led the bank since 2018, has moved to make Goldman less top-heavy and to increase the exclusivity of the partnership. In 2019, some 69 new partners were appointed.  Tags: Goldman Sachslast_img read more