Barclays could face prosecution after judge derides £190m settlement offer

first_imgTuesday 17 August 2010 8:12 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Barclays could face prosecution after judge derides £190m settlement offer Tags: NULL Share Show Comments ▼ 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.comUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleUndocenter_img BARCLAYS is nervously awaiting the outcome of a legal case in the US today that could leave the banking group facing criminal charges over payments linked to countries barred from trading with the States. A federal judge, who will decide whether to accept Barclays’ $298m (£190m) offer to settle the case, called the bank’s agreement “a sweetheart deal” in court yesterday and asked: “Why isn’t the government getting rough with these banks?”District Judge Emmet Sullivan has scheduled a hearing for today to decide whether to approve the deferred prosecution agreement between Barclays and US prosecutors. The case relates to transactions worth about $500m made between 1995 and 2006, where Barclays masked money coming into the US from countries including Cuba, Iran, Libya, Sudan and Myanmar. Barclays has accepted and acknowledged its actions, which prosecutors say were in breach of the Trading with the Enemy Act and the International Emergency Economic Powers Act. Credit Suisse, Lloyds TSB and ABN AMRO have all settled similar cases in recent months. It is the second time in a week Obama’s government has suffered criticism over deals cut with banks, after a judge refused to settle Citigroup’s $75m case concerning subprime mortgages on Monday. whatsapp whatsapp KCS-content last_img read more

FTI hires Lord Malloch-Brown

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tuesday 7 September 2010 11:33 pm Share FTI hires Lord Malloch-Brown Lord Malloch-Brown, 56, has joined an American corporate investigations and consulting group to spearhead its push into emerging markets. The former Foreign Office minister and United Nations deputy secretary-general has been appointed chairman of global affairs at FTI Consulting, the business advisory group said yesterday. Show Comments ▼ whatsappcenter_img KCS-content whatsapp Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tags: NULLlast_img read more

Foreign buyers prop up London property values

first_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 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.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm KCS-content whatsapp Show Comments ▼ Foreign buyers prop up London property values Monday 1 November 2010 7:39 pmcenter_img FOREIGN buyers are helping push up house prices in the most affluent areas of central London, according to fresh research. While the value of prime homes in London has fallen one per cent since July, overseas buyers have buoyed prices in areas like Kensington and Chelsea, says agent Knight Frank. Foreign buyers made up 68 per cent of all sales in June, compared to 53 per cent last year, with even more new overseas homeowners at the top end of the market. While European demand has been quiet in recent months, demand from Asia, Russia and the Middle East has remained strong. “The weakness of the pound ensures that effective discounts available to foreign buyers are still very significant,” said Liam Bailey, research director at Knight Frank. “Surveys over the summer found that seven in ten London homes priced at over £5m are going to foreign investors.”The top 25 per cent of homes in London have gained 12 per cent in value in the year to the end of October, thanks to strong growth at the start of the year. However, prices fell 0.23 per cent last month, the fourth consecutive monthly fall in the capital. Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Tags: NULLlast_img read more

Mitie targets outsourced jobs

first_img 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 TimesWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp Show Comments ▼ More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI 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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org SUPPORT services firm Mitie said it plans to cash in on growing government outsourcing in the next 12 months, as it reported a 12 per cent growth in pre-tax profit for the latest half. Mitie said yesterday pre-tax profit for the six months to the end of September was £47.5m, while revenue grew 14.7 per cent from last year to £918.7m, largely due to recent acquisitions. “We see a number of opportunities in the public sector, in social housing, at the ministry of justice, within education and property in particular,” chief executive Ruby McGregor-Smith told City A.M. The firm said in an update it was speaking to the cabinet office about taking on more public sector work, with the first contracts expected in spring 2011. Mitie, which already provides security in English and Welsh courts, is bidding for work including prisoner escorting, community service and property management. McGregor-Smith emphasised the strength of its social housing business, which makes up 40 per cent of its property management revenue, despite underlying profit in the division falling 8.1 per cent to £12.4m. “More consolidation in the sector and good organic growth across our contracts means we are very positive about the market,” she said. Seymour Pierce analyst Caroline de La Soujeole upgraded her rating from “reduce” to “add”, adding in a research note: “This morning’s results show that the company is clearly making good progress on its strategy of becoming a provider of integrated facilities management and … is now evolving in areas with higher growth and higher margin potential.” KCS-content center_img whatsapp Share Mitie targets outsourced jobs Monday 22 November 2010 7:16 pm Tags: NULLlast_img read more

TRAIN STRIKE LOOMS IN SOUTH-EAST

first_img A RAIL strike on trains run by Go-Ahead Group’s Southeastern franchise is looming after leaders of the Rail, Maritime & Transport union announced plans to ballot members over alleged proposals to axe jobs and reduce the role of rail team leaders at Charing Cross and Victoria stations. RMT boss Bob Crow said Southeastern was about to hike fares by up to 13 per cent despite making profits of £57m in the last three years. whatsapp whatsapp TRAIN STRIKE LOOMS IN SOUTH-EAST KCS-content Show Comments ▼ Share Tuesday 7 December 2010 8:44 pm Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof Tags: NULLlast_img read more

McBride warns of tough year

first_img McBride warns of tough year Tags: NULL Share whatsapp whatsapp KCS-content Show Comments ▼center_img OWN brand producer of shampoo McBride saw its shares dive yesterday after the company warned its full-year performance may be at the lower end of expectations due to a tough retail outlook, especially in the UK.In a trading update for the six months to 31 December, McBride said revenues had risen two per cent, largely driven by growth in central and eastern Europe.“The board believes that the full-year outlook may be towards the lower end of its expectations,” the company said. Thursday 6 January 2011 8:18 pm More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org 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 TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionUndolast_img read more

Tory rebels fail in vote to curb Brussels’ power

first_img KCS-content Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeTaco RelishOnly People With An IQ Of 130 Can Name These ItemsTaco RelishZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldNews SharperGrab A Tissue Before You See Richard Simmons At 72News SharperDefinitionDesi 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 FarmMoneyPailBurning Money: Common Cars Rapidly DepreciatingMoneyPailNext RefinanceFishermen See Animal On Iceberg, But Then Look CloserNext RefinanceGameday NewsNFL Hall Of Famers Who Probably Don’t Deserve To Be In CantonGameday News whatsapp Tory rebels fail in vote to curb Brussels’ power Tuesday 11 January 2011 8:22 pmcenter_img whatsapp Share Show Comments ▼ Tags: NULL PRIME Minister David Cameron survived a test of his party leadership yesterday after eurosceptic Conservative rebels failed to win backing for tougher curbs on the flow of power to Brussels from Britain.Only 39 MPs voted for an amendment declaring the sovereignty of the UK parliament in relation to EU laws, while 314 voted against.The flagship European Union bill, which has survived a vote to halt its passage into law, is meant to defend Britain against unwanted EU rulings and laws and would mean any wholesale changes at EU level would have to pass a British referendum.Conservative Europe minister David Lidington said the legislation would shore up sovereignty and give ministers next to no “wriggle room” on Europe. “Any future changes to EU treaties, however minor, will need to be ratified by a full act of parliament,” Lidington said.But Conservative rebel Bill Cash said that “without a doubt” the bill had been watered down as a result of the coalition arrangements – part of an “alarming stream of acquiescence.” “Which is more important, the coalition or the national interest and the sovereignty of parliament?,” Cash asked. last_img read more

Signs of improvement for Japan

first_img The Reuters Tankan index yesterday indicated improving economic conditions in Japan with an increase in its manufacturing index to +11 in January from +7 in December, and improved for a second consecutive month in its non-manufacturing index, to -2 from -12, suggesting sentiment is no longer weighed down by the concentration of reactionary effects linked to the expiration of Eco Car subsidies, the hike in the cigarette tax and the end of record-breaking heat. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden 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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comPuffer fish snaps a selfie with lucky divernypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com whatsapp KCS-content whatsapp Signs of improvement for Japan center_img Share Show Comments ▼ Thursday 20 January 2011 7:38 pm Tags: NULLlast_img read more

US Treasury starts to tackle debt limit

first_img whatsapp whatsapp alison.lock US Treasury starts to tackle debt limit More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK 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.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Share The US Treasury has initiated the first in what is likely be a series of manoeuvres aimed at preventing it from hitting its legal debt limit, as a political battle over spending intensified.The action to reduce the amount of money the Treasury holds in a special account at the Federal Reserve marked a small step in freeing up new borrowing capacity, but was symbolically important as the Obama administration and Republican lawmakers stake out ground in a wider budget debate.On Tuesday, the Treasury’s remaining borrowing capacity was just $279bn before it hit a legally set $14.3 trillion debt ceiling. The figure is a tiny amount for the government, which relies on borrowing to finance day-to-day costs for everything from running the war in Afghanistan to cutting Social Security checks for retirees.Treasury Secretary Timothy Geithner warned Congress earlier this month the debt limit could be reached as soon as March 31 or as late as May 16, depending on how the economy performs and how much flows into Treasury’s coffers by an April 15 tax deadline.Failure to lift the ceiling could precipitate default and have “catastrophic” economic consequences, Geithner warned.The Treasury gained limited ground through Thursday’s action, which officials said was already factored into Geithner’s estimate of when the debt ceiling will be reached.Starting on February 3, it will gradually cut the balance in the Supplementary Financing Program from $200bn to $5bn. It can do so by letting short-term bills that finance it mature and not issuing new ones.Under the program, which was set up in September 2008 at the peak of the financial crisis, the Treasury sold short-term bills and turned the proceeds over to the Fed to help manage its balance sheet while the central bank propped up a faltering banking system.Republicans are seeking to use the need to raise the nation’s borrowing capacity as leverage to exact spending cuts from the Obama administration.A call to slow government spending helped Republicans seize control of the House of Representatives in November’s elections. center_img Thursday 27 January 2011 3:19 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 ItMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 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 Farm Show Comments ▼ Tags: NULL last_img read more

Ireland’s budget deficit narrows in January

first_img Ireland’s budget deficit shrank nearly 40 per cent in January from the same month a year ago as the government used money raised last year to service its debt mountain rather than tapping the exchequer, the finance ministry said.Ireland has pledged to radically reduce its shortfall, from nearly 12 per cent of GDP last year to under a European Union limit of three per cent of GDP by 2015 at the latest, under the terms of its EU/IMF bailout.However the Labour party, likely to form the next coalition government with the Fine Gael party after an election on February 25, said last week that the EU should give Ireland an extra year, until 2016, to bring its deficit into line. Dublin unveiled a record round of cutbacks and tax increases in its 2011 budget last month but the full impact of those adjustments will not be felt until February because the bulk of income tax receipts in January relate to December earnings.Much of the drop in January’s deficit to €483m (£413m) resulted from a €288m reduction in the cost to the exchequer of servicing the national debt.This reduction arose after the government was able to tap funds raised last year to make interest payments. The debt management agency has some €600m in reserve to service the national debt in the early part of this year.Ireland will spend €5bn, or about three per cent of annual economic output, servicing the national debt this year, the Department of Finance said.Tax revenues in January were nearly two per cent higher than a year ago and the government said it was expecting tax revenues to grow by 9.9 per cent for the year as a whole.But analysts were doubtful such a target could be met in the face of weak domestic demand and said a new government may have to squeeze consumers further.“As things currently stand we think it will be a close call as to whether the budgetary targets can be met without further fiscal adjustment in the coming months,” said Alan McQuaid, chief economist with Bloxham Stockbrokers. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeeSaver OrgThousands in United States Found the Device That Can Slash The Electricity BilleSaver OrgB TrendingTake A Look At Rafael Inclán’s Net WorthB TrendingAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorHealth.recetasgetHeart Attack Early Warning Signs and SymptomsHealth.recetasget Wednesday 2 February 2011 1:53 pm alison.lock Share Tags: NULLcenter_img whatsapp Ireland’s budget deficit narrows in January Show Comments ▼ More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org whatsapplast_img read more