Month: September 2021

Goldman top brass get $24m windfall

first_img Share Goldman top brass get $24m windfall KCS-content Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot whatsapp Sunday 15 August 2010 10:54 pmcenter_img GOLDMAN SACHS bosses including chief executive Lloyd Blankfein crystallised millions of dollars of gains last week by cashing in stock options, according to regulatory filings.Blankfein booked a profit of $6.1m (£642,000) by exercising his right to buy nearly 90,700 shares in Goldman at their 2000 level of $82.86 apiece and selling them at prices of between $149.49 and $152.President Gary Cohn made $4.9m by using more than 73,600 options, chief financial officer David Viniar made $4.5m on more than 67,300 options and general counsel Esta Stecher made $1.6m. Also booking profits were vice chairman John Weinberg at $3.9m, co-counsel Greg Palm at $3.2m and chief accountant Sarah Smith with $243,900. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd whatsapp Show Comments ▼ Tags: NULLlast_img read more

Glencore moves to divest $5bn of gold assets

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Glencore moves to divest $5bn of gold assets KCS-content Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyAll Things Auto | Search AdsMost Affordable Camper VansAll Things Auto | Search AdsBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comForbes14 Richest Black Billionaires RankedForbesOpulent ExpressNewborn Quadruplets Left Doctors Staggered — They Are One In A MillionOpulent ExpressElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times center_img THE WORLD’S biggest commodities trader Glencore unveiled plans yesterday to spin off or list its gold assets, worth up to $5bn (£3.22bn), as it reported a surge in first-half profits due to strong metals prices.Swiss-based Glencore has also dropped the idea of finding a partner for its Prodeco coal assets, a source close to the situation said.Privately-held Glencore, which is preparing to become a listed company after issuing a $2.2bn convertible bond last year, said the planned sale or flotation of its Kazzinc precious metals producer and other assets would help meet $1bn of planned disposals, of which $400m had already been agreed.The divestment news came as Glencore posted a 42 per cent jump in first-half net profit to $1.56bn. Revenues leapt more than half to $70bn thanks to a threefold increase in industrial activities, while trading revenues rose slightly.Net debt rose to $13.6bn from $10.2bn, while debt coverage ratios were largely unchanged due to increased earnings and operating cash flow, the company said. Show Comments ▼ whatsapp Thursday 26 August 2010 8:11 pm Tags: NULLlast_img read more

REH to offload German wind farms

first_img John Dunne REH to offload German wind farms whatsapp whatsapp Britain’s Renewable Energy Holdings (REH) will sell its German wind farms for just under 40m euros ($54m) to pay off debts and pump more money into Polish and Welsh projects.The news sent shares in REH, which have slumped 64 percent this year, up almost TEN percent to 9.75 pence at 0816 GMT.Windpark Kesfled and Windpark Kirf will be sold to Allianz Renewable Energy, pending approval from shareholders, REH said in a statement, after they failed to reach windspeeds originally projected when they were bought by REH.“The board believes the company’s development projects, being the Kobylany Wind Farm Project in Poland and Mynnydd y Gwynt in Wales, should be the main focus of REH’s activity going forward, due to the potentially superior economic returns they could provide,” REH said. Show Comments ▼ Share Monday 6 September 2010 3:57 am 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 Proof Tags: NULLlast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_imgThursday 16 September 2010 8:04 pm CITY MOVES | WHO’S SWITCHING JOBS KCS-content Show Comments ▼ RSM TenonThe accountancy firm has hired Paul Belsman as its new head of tax.Belsman has over 25 years of experience in the sector and was formerly head of tax at Vantis, which sold parts of its business to RSM Tenon in June. He joined Vantis when it took over Numerica, his former employer, in 2005.The group’s previous head of tax, Andrew Hubbard, has been appointed as chairman of the tax team with specific responsibility for tax policy and technical standards.RBS InsuranceThe insurer has appointed John Reizenstein as finance director.Reizenstein was formerly at Co-operative Financial Services, where he has been a managing director in the corporate and markets team since 2008. Prior to that, he worked in investment banking at UBS and latterly Goldman Sachs.Libertas CapitalThe corporate finance house has appointed Michael Drozd as head of equities and an oil and gas analyst.Drozd was previously head of equities at Landsbanki Securities and has also previously been head of research and an oil and gas analyst at various investment banking groups including UBS, HSBC and Paribas.PricewaterhouseCoopersThe accountancy giant has recruited Michel Abbink to join its UK actuarial and insurance management solutions (AIMS) group as a partner.Abbink joins from Swiss Re, where he was most recently M&A director, responsible for the sourcing, management and pricing of transactions on closed life insurance books and annuity portfolios. Share whatsapp Oppenheimer InvestmentsIain Morpeth, one of Clifford Chance’s most senior private equity lawyers, is joining the Swiss project financing adviser as its new chief operating officer, based in London.Morpeth has been at Clifford Chance for the past 23 years and specialises in the real estate sector. His track record includes advising on Meridian Delta Consortium’s acquisition of the Millennium Dome from the UK government in 2002. whatsapp 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 PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe 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.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK 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.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.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Tags: NULLlast_img read more

BEST OF THE BROKERS

first_imgSunday 26 September 2010 9:44 pm 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 PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe 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.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com BEST OF THE BROKERS Share BHP BILLITONEvolution Securities says the balance of probabilities moving forward on BHP Billiton’s bid for Canadian owned Potash Corporation is in the mining company’s favour. The broker reiterates a “buy” for BHP because the company is not stinting on other growth investments by virtue of its strong balance sheet.GROUPE EUROTUNNELNomura’s confidence in its forecasts for Eurotunnel is increasing. The broker is becoming more confident that the focus on higher-yielding smaller customers, combined with the market growing again during the first half, should see Eurotunnel’s market share return to previous levels. The broker reiterates a “buy”. EADSJP Morgan Cazenove upgrades EADS to an “overweight” rating based on healthy trading posted by Airbus. After a decade of trading Airbus profits at a rate 20 per cent better than the prevailing spot rate, the broker says hedge and spot rates have now converged. The broker expects Airbus to remain in profit despite production issues. whatsappcenter_img whatsapp KCS-content Show Comments ▼ More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.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.comPuffer fish snaps a selfie with lucky divernypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com Tags: NULLlast_img read more

NatGrid hires finance boss from Cadbury

first_img whatsapp Show Comments ▼ 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe 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 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 National Grid said yesterday it had hired Andrew Bonfield, who was Cadbury’s chief financial officer during its takeover by Kraft, as new finance director at its energy transmission business.Bonfield will take over the post from current finance director Steve Lucas at the start of next month as Lucas prepares to retire. Lucas will leave National Grid at the end of the year after serving a decade as the group’s finance director. Although his pay-off is not known, Lucas received £1.3m in salary and bonus last year. Bonfield will walk into a raft of issues at National Grid as the energy giant faces growing pressure from US regulators over the expenses it paid to staff in the country.He also faces the challenge of improving investor relations after the company’s surprise £3.2bn rights issue, launched in the spring. Bonfield, who began his career as an accountant with PwC, resigned from Cadbury’s board in February, after only one year in the top post. He played a major part in trying to fight off Kraft’s £11.4bn hostile takeover earlier this year.Prior to joining the confectioner, Bonfield was financial officer at Bristol-Meyers Squibb for five years in New Jersey and previously held the top finance role at SmithKline Beecham, which merged in 2000 with Glaxo Wellcome to form GlaxoSmithKline.He was tipped earlier this year as a possible candidate to take over the top job at Marks & Spencer.National Grid chief executive Steve Holliday said: “I know that with his vast experience, he will play a pivotal role in helping us meet the challenges and opportunities ahead.” Tags: NULL Monday 4 October 2010 8:23 pmcenter_img whatsapp 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 PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe 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 Times Share KCS-content NatGrid hires finance boss from Cadbury last_img read more

Retail sales growth slows says CBI

first_img whatsapp John Dunne Share Retail sales growth eased in October from September’s six-year high, but stayed well above average and at its second-highest level this year, a survey by the Confederation of British Industry showed.The CBI’s monthly distributive trades survey’s reported sales balance dipped to +36 in October from +49 in September, broadly in line with economists’ forecasts of a slowdown to +35.The figures suggest that at least part of the British economy continued to perform strongly at the start of the fourth quarter of 2010, following unexpectedly strong GDP growth in the third quarter.The expected sales balance for November pointed to further strong sales growth in the run-up to Christmas and ahead of a planned rise in value-added tax in January, with retailers predicting a reading of +43.Strong sales growth was not just down to seasonal factors. October’s sales balance for the time of year, at +20, was the highest since May 2007, and this was expected to remain the case in November.However, the longer-term outlook was less encouraging.“High street sales in aggregate have performed well again this month, but sales of durable household goods have slowed noticeably, in line with more subdued housing market activity of late,” said CBI chief economic advisor Lai Wah Co.“Retailers expect sales growth to continue next month in the run up to Christmas. We should also see more of a boost to sales as shoppers to beat the New Year VAT rise, but looking beyond that, broader consumer caution may temper growth in spending into 2011.” 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 ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity 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.com Show Comments ▼center_img Thursday 28 October 2010 6:40 am 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe 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 whatsapp Retail sales growth slows says CBI Tags: NULLlast_img read more

US is where it all happens this week

first_img US is where it all happens this week whatsapp 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.comMark Eaton, former NBA All-Star, dead at 64nypost.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.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.org Tags: NULL whatsapp IT used to be the case that the most important market-moving news for the FTSE 100, sterling and the UK fixed income markets often came from the US. While that remains largely true – London traders become fixated with Wall Street the moment it opens – Chinese statistics have now become almost as important for all global markets, increasingly superseding even American news. The Chinese purchasing managers index for manufacturing is now an extremely influential statistic. When America sneezes, the rest of the world still catches cold; the difference is that there is more than one country that can contaminate the rest of us when it falls ill.This week will therefore have a retro feel to it: the most relevant events for London’s economy will all be taking place in America. These stories will be far more significant than the latest micro-development in UK politics, or even the outcome of the Bank of England’s meeting, which will see no change to anything (it will be boring, and a good thing too).Far more interesting will be the Fed’s move on QE2: a massive increase in government asset purchases on Wednesday has already been priced in by the markets. The trouble is that this is unlikely to make much impact on the economy, as the Fed’s own models show. It is also worth reminding ourselves that US GDP, which grew by 2 per cent annualised in the third quarter according to preliminary official numbers out last Friday, is not in recession. It is growing, albeit too slowly to create enough jobs. It is therefore highly dubious whether there is really any justification for QE, especially given that few analysts seem to believe in its efficacy at the doses contemplated. What really seems to be happening here is a disastrous return of the old Greenspan put – Fed intervention whenever anything isn’t going well enough. Moral hazard is back with a vengeance.Even more interesting will be the result of the mid-term elections, though many over here may fail to understand their significance correctly. Barack Obama’s Democrats will be defeated heavily; the Republicans, fuelled by grass-root activists, including quasi-libertarian Tea Party members, are set to regain the House of Representatives. They are likely to fall short of clinching the Senate; the upshot will be gridlock. Very few new laws will be passed in the US over the next two years. Crucially, various taxes are about to go up automatically, unless a deal is negotiated urgently, which will trigger a massive row between Republicans and Democrats. Capital gains tax – as well as income tax – will be among those affected; this could push US equity values down substantially as returns will now be much lower as a result of the tax increase. London will feel the fallout.Another major issue is the row over home foreclosures in the US, caused by banks and lenders using the wrong paperwork to repossess homes. In the main, the right homes are being grabbed, albeit via the use of technically illegal processes as a result of gross stupidity and incompetence. The halting of repossessions is slowing down the normalisation of the housing market and bank balance sheets and could yet engulf the US-based financial giants into another storm of litigation and crisis, affecting people employed by those firms in the UK.These are the sorts of issues that should be uppermost on London-based investors’ minds this week. Globalisation is back, warts and [email protected] KCS-content center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlush Share Sunday 31 October 2010 11:39 pm Show Comments ▼last_img read more

Ofgem to review retail energy market

first_img Show Comments ▼ ENERGY regulator Ofgem is to launch a review of the UK’s energy retail market today after flagging concerns that suppliers are charging too much.Its latest analysis of retail prices shows the margin on a standard dual fuel tariff is now about £90, up 38 per cent from September’s level of £65. Ofgem said that while it expects energy companies to be profitable, it wants to clarify whether the market is transparent and protects consumers enough.“Consumers have the right to expect that the energy retail market is providing them with value for money,” said Chief executive Alistair Buchanan.He said the rise in company margins at a time of rising energy prices “causes Ofgem to rightly ask if companies are playing it straight with consumers.”The review will go beyond Ofgem’s regular quarterly price reports to review the retail market overall and how recent reforms are affecting consumers.It will assess how effective the retail market is as well as how comprehensively energy suppliers have implemented Ofgem’s reforms.It will investigate “the facts behind these numbers,” Buchanan said, and should be completed by March 2011.Ofgem’s Electricity and Gas Supply Market Report found that three of the “Big Six” Uk energy suppliers have already announced price rises for the winter.RWE Npower and Eon are still to announce whether they will raise prices while EDF Energy has pledged to fix its prices until March 2011. alison.lock More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.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.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp Ofgem to review retail energy market center_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeCuteness56 Animal Puns For a Quick LaughCutenessBewadaHusband Divorced His Wife After Looking Closer At This PhotoBewadacutenova.comTake a Peek at 10 of the Most Expensive Houses in the Worldcutenova.comHealth.recetasgetHeart Attack Early Warning Signs and SymptomsHealth.recetasgetPlumbing ServicesPlumber Prices In Scottsdale might surprise YouPlumbing Services5log – Livinguard®This mask has been sold out in Germany 5 days after the government has tighten up5log – Livinguard®AmoMediaRich Guy Mocks Disabled Waiter, Regrets It ImmediatelyAmoMediaMike HistoryBruce Willis Is Nearing 70 & This Is The Car He Has TodayMike HistoryScalp Psoriasis SearchWhat Exactly is Scalp Psoriasis? See the SymptomsScalp Psoriasis Search whatsapp Share Friday 26 November 2010 6:36 amlast_img read more

Iceland Foods could be target for Middle Eastern consortium

first_img whatsapp Sunday 12 December 2010 11:05 pm Show Comments ▼ KCS-content GROCERY giant Iceland is a potential target for a powerful consortium of Middle Eastern businessmen who are interested in snapping up the assets of failed Icelandic banks Landsbanki and Glitnir.The two banks own 76 per cent of the food chain, which could become the target of a bidding war. The firm’s management already have a 24 per cent stake in the company and are understood to have had a £1bn approach for the remainder knocked back earlier this year.A battle between founding chairman Malcolm Walker and the gulf investors, represented by Global Banking Corporation of Bahrain, could push the value of the firm as high as £1.5bn.Iceland reported a 19 per cent jump in profits last year. However, the firm has had a checkered recent history, with Icelandic conglomerate Baugur acquiring its parent company Big Food Group for £326m before collapsing, handing control of the chain to its banks’ administrators. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe 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 TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndo Sharecenter_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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell 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.comBiden 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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com whatsapp Tags: NULL Iceland Foods could be target for Middle Eastern consortium last_img read more