Desmond’s Channel Five revolution

first_img Show Comments ▼ KCS-content The Northern & Shell and Express Group owner has promised further cost savings at the loss-making broadcaster but also an expansion of the programming budget to £300m a year over the next five years.He will cross promote the channel in his celebrity-focused OK! magazine and no doubt there will be some favourable mentions of Five programmes in the Daily and Sunday Express.Back in the 1990s, Lord Clive Hollick promised the same sort of cross promotion when he owned both the Express group and the ITV franchises such as Meridian, HTV and Anglia. But the strategy never really worked, both because the broadcasting regulations at the time were tighter and because ITV was not a single unified group.Desmond’s chances of achieving cross fertilisation across his media must surely be higher. Imagine a new series of Big Brother promoted tirelessly in OK! and the Express and Star titles, with exclusive interviews, news stories and the like being shared across the group.There will be no reticence on Desmond’s part about cross promotion, current regulations permitting. As far as I understand it, Channel Five will be allowed to plug Desmond’s newspaper titles so long as it does not give them undue prominence. And the newspaper titles will be free to plug Channel Five as much as their editors see fit (quite a lot, I suspect). The key will be the extent to which Desmond’s growing media empire is successful in creating content that people want to view or read about. His ownership of the Express and Star titles may have been profitable but the Express and its Sunday stablemate have found it massively difficult to reverse circulation declines.While the newspapers in Desmond’s empire are marginal players, the same is also true of Channel Five. This is no News International, whose brands, such as the Sun or Sky, are media powerhouses.Nevertheless my prediction is that Channel Five, which lost £34m last year, will shortly become profitable. It will employ fewer people than before and it will be a fairly unusual place to work.When Desmond took over the Express Group almost ten years ago, he quickly changed its culture and screwed down costs. Most remaining foreign postings were cut, staff numbers were reduced sharply and all expenses considered unnecessary were phased out.My own favourite budget cuts story from the time relates, bizarrely, to uncooked pork. The features desk used to feature the recipes of a celebrity chef. Under a previous regime the recipe would be cooked by a known restaurant and the result would be photographed for the Express magazine. The new regime instructed that one of the department’s PAs cook the meals and then get them photographed on-site. The plan back-fired when the PA in question, being Jewish, refused to handle pork, leaving it in its raw state for the photographer, whose picture of the uncooked meat adorned the feature page in the magazine. Life is unlikely to be dull at Channel [email protected] Heath is away. whatsapp Tags: NULL whatsapp Wednesday 11 August 2010 8:49 pmcenter_img Share THE inevitable bloodbath occurred at Richard Desmond’s newly acquired Channel Five yesterday as seven directors and more than a quarter of the 300 employees were given their marching orders. Desmond’s Channel Five revolution More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com last_img read more

Murdoch to launch tablet-only national newspaper in the US

first_img Share Murdoch to launch tablet-only national newspaper in the US KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoinvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndo Tags: NULL Monday 16 August 2010 7:54 pm RUPERT?Murdoch is planing an audacious tablet-PC only newspaper in the US.Murdoch plans to charge users a subscription fee to read his new venture on their iPads. It is understood the as-yet-unnamed paper will draw on resources from his existing media outlets but also have its own staff of several dozen.The News Corp boss is desperate to secure new revenue streams from the internet for his newspaper empire, which includes the New York Post in the US and the Sun and Times in the UK.The move is the clearest sign yet that Murdoch is prepared to force through changes to the way people view news content.Earlier this year he erected paywalls around parts of his UK newspaper stable, charging readers to access information from the Times and Sunday Times. Early reports suggest their readership has been slashed but it remains to be seen whether the sites will become a worthwhile source of revenue.Murdoch told the LA Times the venture will appeal to readers who consume their news on the go. He said it will focus on short, easily digestible stories ideal for commuters. The tycoon added: “We’ll have young people reading newspapers. It’s a real game changer in the presentation of news.”Benedict Evans of Enders Analysis told City A.M. there could be a gap in the market for such a venture, but influential technology blog TechCrunch said the move is akin to the doomed charge of the Light Brigade. whatsapp Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comPuffer fish snaps a selfie with lucky divernypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Show Comments ▼ whatsapplast_img read more

Google and Carphone in mobile deal

first_imgMonday 25 October 2010 8:38 pm whatsapp Show Comments ▼ THE SECOND Google-branded mobile phone will hit the UK in time for Christmas through an exclusive deal with Carphone Warehouse, City A.M. has learned.Its predecessor, the Nexus One, is the flagship device for the search giant, which is desperately trying to wrest market share from Apple’s iPhone.The deal with Carphone represents a major rethink of Google’s sales strategy, with the Nexus One released exclusively in the UK through Vodafone.An industry source said: “It looks like Google is experimenting with the future of its mobile model in the UK. It tried releasing through a single carrier, now it is trying a single retailer.“It could be a solution to the problems it experienced when it tried to sell the Nexus One exclusively through its website. People like to be able to go to a store – this solves that.”The Nexus One, built by HTC, failed to make a splash when it was released earlier this year, although Google’s Android software is now growing faster than phones powered by Apple or RIM.The phone – dubbed the Nexus Two – is expected to run the new version of Android, codenamed Gingerbread. It is not yet clear who will manufacture it, although rumours surrounding a Samsung model are believed to be untrue. Both Google and Carphone declined to comment. Google and Carphone in mobile deal Tags: NULLcenter_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 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 HeraldDiscovery23+ Sports Stadiums Around the World That Are Abandoned NowDiscoveryZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Share 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.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.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com KCS-content last_img read more

Standard Chartered to expand non banking operations

first_img Tags: NULL Standard Chartered to expand non banking operations Friday 12 November 2010 2:34 am John Dunne More From Our Partners LA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPorsha 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.orgKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Show Comments ▼ whatsapp whatsapp Standard Chartered will focus on organic growth and aims to expand non-banking operations in South Korea, its chief executive said.“You will see us doing more securities-based (work) using the holding company platform… In Korea as everywhere else, the primary focus of our strategy is organic growth,” Peter Sands told reporters in Seoul.The London-based bank earns about four-fifths of its profits in Asia, and South Korea is its third-biggest market by assets.StanChart raised $5.3bn (£3.3bn) through a rights offering as it seeks to boost capital ahead of tougher global rules.Sands cautioned a potential impact of a new global regulation standard on the financing of SME business as the bank is now turning to the small and medium sized business sector from private and priority banking operations, which it hopes to double in the next three years.“Financing SMEs is quite challenging but Basel III is just making it more so,” he said.Sands said the $5.3bn rights issue was to fund its growth in Asia, Africa and Middle East, but ruled out any possibility of acquisitions, including South Africa’s Nedbank, which its UK rival HSBC ended acquisition talks.Sands said he was optimistic about business conditions for next year but noted plenty of risks including a turbulent economy.“There are risks arising from the persistence of very big imbalances in the world and also… from the monetary stimulus packages that have been used. I don’t think it will be smooth,” he said. Sharelast_img read more

AMEC wins North Sea oil rig engineering contract

first_img Share AMEC wins North Sea oil rig engineering contract KCS-content 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 WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap ENGINEERING firm AMEC’s shares gained 2.5 per cent yesterday after the group won two contracts on oil and gas rigs in the North Sea. Oil refiner ConocoPhillips has hired AMEC for engineering and procurement work on its existing Judy platform around 240km from the Aberdeen coast, as well as for initial work on its new Jasmine gas reservoir. The value of the contract win has not been disclosed.ConocoPhillips anticipates production on the Jasmine platform will start in the fourth quarter of 2012. AMEC shares closed 28p up at £11.54, its highest close in more than a year. “I am delighted that our long track record of delivery of major and complex projects for ConocoPhillips, including on this field itself, has been recognised through this significant contract award,” said John Pearson, managing director of AMEC’s European & West African business. center_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem Thursday 18 November 2010 7:51 pm whatsapplast_img read more

DEBT CRISIS: ALL EYES ON PORTUGUESE

first_img DEBT CRISIS: ALL EYES ON PORTUGUESE Show Comments ▼ whatsapp Share Tags: NULL EUROZONE yields soared again yesterday as Portugal’s hopes of avoiding a bailout appeared to fade. Investors fled from Portuguese, Italian and Spanish debt, sending yields rocketing to their highest levels since the euro started.The yields on Italian and Spanish 10-year bonds also hit record levels against so-called safe-haven German debt.Pressure mounted on Portugal, whose spreads also crept higher, as its central bank warned the country’s lenders face an “intolerable risk” unless the government manages to get a grip on public spending. The core state deficit has widened 1.8 per cent so far this year.Portugal is desperate to avoid being the next Eurozone domino to fall, with Prime Minister Jose Socrates adamant he can pull the country through without needing a bailout.But fears are growing that he will be unable to meet targets laid out in the austerity budget pushed through last week, which would almost certainly condemn the country to a rescue package.Ratings agency Standard & Poor’s put Portugal’s sovereign debt on downgrade watch yesterday, warning that Socrates’ policies “have done little to boost labour flexibility and productivity” and that the nation’s fight to lower the deficit will cause the economy to dip two per cent in real terms next year. Elsewhere, Spanish bond yields rose as high as 5.7 per cent – more than three per cent higher than Germany’s – later falling back to 5.53 per cent. Italian yields rose above 4.64 per cent.The cost of insuring Eurozone debt also jumped yesterday on fears of contagion, with five-year credit default swaps (CDS) on Germany’s safe-haven debt rising 8.85 per cent. CDS on Italian debt rose 8.21 per cent and Spain’s jumped 4.15 per cent.Jean-Claude Trichet, the president of the European Central Bank, tried to calm the market yesterday by hinting that the bank could expand its government bond purchasing programme. Trichet told the European parliament he would not comment “at this stage… in light of the current situation”, but that the programme was “on-going”. He also refused to rule out the introduction of a joint Eurozone sovereign bond. It was not enough to stop the euro sliding below the $1.30 mark against the dollar yesterday, as well as losing against the yen to hit its lowest level in more than two months. The corporate debt market also reacted badly to the continued turmoil, as companies with high exposure to the Eurozone saw the cost of borrowing soar. Those affected included Italian lottery owner Lottomatica, whose bond yields have jumped 12 basis points to 5.61 per cent since being issued last week. whatsapp Tuesday 30 November 2010 9:02 pm KCS-content Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndolast_img read more

GSK buys sports drinks firm for £162m

first_img alison.lock Show Comments ▼ Share PHARMACEUTICAL giant GlaxoSmithKline is to buy protein drinks company Maxinutrition for £162m from its private-equity owner, Darwin Private Equity.Glaxo chief executive Andrew Witty said the deal, which is priced at 4.5 times last year’s sales, would complement its Lucozade sports drinks and Horlicks franchises. It would give the drugmaker a broad range of nutritional drink products as it seeks to build up its consumer healthcare business, Witty said.“It fits beautifully with the Lucozade business,” he told Reuters in an interview.“If you think about GSK now, we have a carbohydrates nutrition business with Lucozade, we have a calcium micronutrients business which is Horlicks, and now we have a protein nutritional business.”Glaxo will pay cash for Maxinutrition, including the repayment of outstanding debt.UK-based Maxinutrition is Europe’s leading sports nutrition company by market share, with a line-up of products that includes Maximuscle for weight-trainers, as well as Maxifuel and Maxitone.It recorded sales of about £36m in the year to end-April 2010 and has delivered annual sales growth of approximately 21 per cent over the last three years.Witty said the broad base in three different types of nutritional healthcare products could allow Glaxo to contemplate a range of innovations in future.“You could then imagine a whole series of new products at all levels of the system – you could imagine elite sports products, you could imagine nutrition for the elderly, and you could also imagine daily nutritional supplements for people in Africa,” he said.The deal is subject to approval from Britain’s Office of Fair Trading. Monday 13 December 2010 8:17 am whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgcenter_img whatsapp Tags: NULL GSK buys sports drinks firm for £162m by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Todaymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmlast_img read more

Auditor refuses to sign off on MPs’ expenses

first_img KCS-content Auditor refuses to sign off on MPs’ expenses whatsapp whatsapp Share More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org center_img THE auditor general refused to sign off MPs’ expenses accounts for last year yesterday citing concerns over nearly £14m of payments.Amyas Morse carried out a “full scope audit” of £98.1m expenses paid in 2009-1 – the year of the expenses scandal.The audit found the House of Commons authorities had failed to obtain receipts to justify £2.6m in claims. Another £11.3m of expenses had been incurred on items which MPs could not prove were necessary for parliamentary purposes.The news came as David Cameron met with backbench MPs last night to discuss problems with the new system governing MPs’ expenses. The Independent Parliamentary Standards Authority (Ipsa) has faced criticism from MPs that is not working properly and it’s too expensive.Last night the Prime Minister agreed the new system was “anti-family” and would have to relax its grip by 1 April, or face being reformed.A spokesman for Cameron added: “There needs to be a better system in place by 1 April otherwise it will have to change. That can be through Ipsa recognising its shortcomings, or it can be it being changed. Either way, it will have to change.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem Wednesday 15 December 2010 8:55 pm Show Comments ▼ Tags: NULLlast_img read more

EUROPE GETS ANOTHER SCROOGE: OSBORNE NOW JOINED BY MERKEL

first_img whatsapp EUROPE GETS ANOTHER SCROOGE: OSBORNE NOW JOINED BY MERKEL KCS-content LAST time The Capitalist reported on the activities of Evolution Securities’ head of fixed income Gary Jenkins, he was fantasising about taking over ratings agencies and hiring Natalie Portman as his PA.He has been putting his wild imagination to other productive uses recently, it seems, churning out a re-imagining of Charles Dickens’ A Christmas Carol for his Credit Matters magazine column last week.And in the mind of a bonds analyst, guess who takes the role of Scrooge? That’s right, German chancellor Angela Merkel: “Some saw her as hard and sharp as flint, which no warmth could warm,” he writes. “She considered herself as a professional keeper of the flame.”As for the “ghosts of Deutschmarks past”, Jenkins brings us a bond analyst; for the present, ECB president Jean-Claude Trichet (“It appears that I am being asked to undertake a number of different responsibilities at this time which were not part of my original mandate”); and for Christmases future, an evil ghost of a ruined Europe in the wake of a euro collapse.But this re-telling has a realist twist. Instead of embracing fiscal union, Merkel dismisses her revelations and “with a smile on her face and a spring in her step she went downstairs to stuff the turkey”.PARTY ONIt might have been a year of uncertainty for investors, but the City parties on, according to the annual Christmas survey by the London Chamber of Commerce and Industry.The research shows that more than half of licensed venues (that is, bars, clubs and the like) surveyed said that business is more profitable than it was this time last year. Overall, 48 per cent of venue managers said that trading was better, 32 per cent said it was much the same, with only 20 per cent saying it was worse.And unlike in 2009, party venues are reporting less reliance on one-time spending events like Christmas. Just 30 per cent said that the festivities accounted for 11 to 25 per cent of annual turnover, versus more than half in 2009.The EU might be doing its best to stamp on City exuberance with new bonus rules out recently, but it just goes to show that you can’t keep a banker away from her gin and tonic for long.WHIPPEDIt might not be the season for icecream, but the City of London Corporation never stops thinking about the regulation of our summer treats.The Corporation just slapped its first ever immediate injunction in the Square Mile on Piccadilly Whip Catering Limited.But what offence is this dastardly organisation accused of committing?Selling icecream on the street without a license, it seems. “We’re clamping down on icecream vendors because of reported overpricing – with some tourists being charged up to £5 for a cornet (sic) – and concerns over health and safety,” said a City spokesman yesterday.Now a fiver might be a bit steep for a couple of strawberry scoops on a sugar cone, but The Capitalist is pretty sure that the heavens’ dramatic intervention in the form of freezing temperatures will be just as effective an injunction on icecream consumption as any imposed by the High Court.NERDS’ BUSINESS Rumours abound of a possible tie-up between Facebook and Chinese search engine Baidu. But these new media types have a funny way of denying market whispers. Not for them the bland, “We do not comment on speculation”. Instead, a spokesman told The Guardian: “It was just two nerds comparing notes. Keep the speculation in check.”Nice to inspire such respect from your own press goons, eh?DOUBLE SPEAKLabour leader Ed Miliband is clamping down on loose language, according to reports. In a memo to his Shadow Cabinet recently, he informed them that the use of the descriptive phrase “coalition government” is no longer au fait. It sounds much too friendly, apparently.So what sanctioned language will the new Party machinery accept? “Conservative-led government” is A-OK. A curious prohibition, you might think, given that the Tories currently poll around 37 per cent, versus their friendly coalition partners’ recent low of 11. Is it possible that Ed has spun himself into a frenzied re-imagining of the 90s? by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition Share Monday 20 December 2010 8:16 pm whatsapp Show Comments ▼ Tags: NULLlast_img read more

PFI found to fail taxpayers

first_img KCS-content PRIVATE investors have been reaping the profits of private finance initiatives (PFIs) without sharing the proceeds with the taxpayer, according to an influential Commons committee.In a scathing evaluation of private involvement in the funding of social housing and hospitals, Labour MP Margaret Hodge, the chair of the Public Accounts Committee, has called for new alternatives to PFI to be found.She said: “Private sector investors may use the consequent economies of scale to drive up the value of their interests and generate bigger profits. We are concerned that the benefits arising from these economies of scale are not being shared by the taxpayer.“The use of PFI and its alternatives should now be robustly evaluated.”The findings could harm business and the future strength of the economic recovery, according to the CBI.Elizabeth Fells, CBI head of public services reform, said: “With the public finances constrained, the role of the private sector in supporting new infrastructure will become even more important.” Fells added: “Any moves to challenge existing contracts will undermine private sector confidence, jeopardising future investment in crucial infrastructure projects.” whatsapp Show Comments ▼ Share PFI found to fail taxpayers center_img Monday 17 January 2011 9:39 pm whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Tags: NULLlast_img read more