Google Street View put under scrutiny by German officials

first_img whatsapp KCS-content Wednesday 11 August 2010 8:21 pm THE German government said yesterday it will scrutinise Google’s promise to respect privacy requests by letting people opt out of its Street View mapping system and that it would be ready to intervene if necessary.The response to Street View has been overwhelmingly negative, even though Germans have been given assurances they can have images of their homes kept out.But Google’s announcement on Tuesday that it would allow Germans to stay out of Street View failed to allay fears that privacy would be compromised by the navigation system.Consumer minister Ilse Aigner said: “We’ll take a very close look at how effectively this works in practice and we’ll see from there.” More than 10,000 Germans have already formally requested their homes be deleted from Street View. Criticism from civil rights watchdogs will likely push that figure higher. Google Street View put under scrutiny by German officials Sharecenter_img whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoReporter center[Photos] Meet The Man Katie Couric Is Romantically Involved With In 2021Reporter centerUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndo 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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Tags: NULLlast_img read more

SON OF ROUTEMASTER

first_img A NEW generation of Routemasters – known as “Son of Routemaster” is wheeling ahead, with the new version (pictured in a computer version) likely to be tested next Spring, and the first five prototypes due to arrive in London in 2012. Some critics have claimed the “hop-on, hop-off” hybrid vehicles, which were a key mayoral election pledge and are intended to replace the scrapped bendy buses, are a waste of money. 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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily 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 KCS-content whatsapp SON OF ROUTEMASTER Thursday 16 September 2010 8:51 pmcenter_img Show Comments ▼ Share 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 Tags: NULLlast_img read more

US ban on deepwater oil drilling will stay in force

first_img whatsapp whatsapp KCS-content Share THE US ban on deepwater drilling looks set to stay in place for now, as both a government head and a judge yesterday talked down the possibility of an early end to the rules put in place after the BP oil spill. Judge Martin Feldman said yesterday he would move quickly on oil firms’ challenge to the moratorium, but added he needed more information before he decides whether to overturn the ban. Meanwhile, interior secretary Ken Salazar, who introduced the drilling freeze, said he was not ready to allow work to restart. In a speech to introduce rules on drilling safety, seen as a precursor to lifting the ban, Salazar said: “There will always be risks associated with deepwater drilling, but we will only lift the suspensions when I am comfortable that we have significantly reduced those risks.” 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 PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo 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 Wrapcenter_img Show Comments ▼ Tags: NULL Thursday 30 September 2010 11:03 pm US ban on deepwater oil drilling will stay in force last_img read more

Coca-Cola staff plan strike over pay dispute

first_imgWednesday 27 October 2010 8:20 pm COCA-COLA staff are to protest against restructuring plans which they say will lead to lower pay and put jobs at risk. Members of the Unite union at seven plants across the UK are threatening to walk out. Unite says the company is using the economic climate to force through “attacks on jobs and pay”.But the firm said it is seeking a “consistent way of working” across its UK, Belgian, Dutch and French plants and is acting fairly. 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 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 Coca-Cola staff plan strike over pay dispute whatsappcenter_img Share Show Comments ▼ 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 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 Tags: NULLlast_img read more

Man Group to axe up to 200 jobs next year

first_img MAN Group will axe up to 200 jobs over the next year, according to sources close to the firm.The world’s largest listed hedge fund has already identified $50m (£32m) of cost savings and a company spokesman told City A.M. it was inevitable some of this would be achieved by reducing headcount.However, he declined to confirm how many jobs could be lost through the streamlining operation.City sources say at least 100 full time staff are likely to lose their jobs, with other losses coming through cutting back on the number of contractors working for the firm.The total will come to around 10 per cent of Man Group’s 1,800 headcount. The reductions will be phased over the next six months, according to sources close to the firm. More information is expected to be released when the group releases its results next Thursday.Man Group remains a potential bid target, with Bank of New York Mellon seen as a possible suitor. Its funds under management have fallen from $79.5bn in 2008 to just $39bn in March.Last month it also clocked up an eighth consecutive quarter of net withdrawals, as an improved performance from its flagship AHL fund failed to stem the outflow of private client money. It recorded net outflows of $600m in the three months to the end of September, though the rate of withdrawals slowed from the first quarter. Wednesday 27 October 2010 8:55 pm More From Our Partners Killer 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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA 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.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org KCS-content Man Group to axe up to 200 jobs next year Sharecenter_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 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 whatsapp Show Comments ▼ whatsapp Tags: NULLlast_img read more

Smiths confident as margin focus delivers

first_img Show Comments ▼ UK TECHNOLOGY firm Smiths Group said cost cuts and a focus on margins should help it deliver a good performance in the first half, as delays on government orders crimped sales for airport security devices.Technology group Smiths, whose products range from bomb detectors to medical devices and fuel hoses, said it had seen underlying sales growth in the three months to 30 October, supported by improvements at its Medical division.Sales at Smiths Detection, which makes X-ray scanners used at airports and advanced explosion scanners, lagged those of a year ago due to a delay in large orders from government agencies, as lawmakers debate changes to military spending.“Sales in the period are behind last year as some large orders from various government agencies have been delayed,” the company said in a statement yesterday. Governments are scrambling to tighten aviation security after bombs were found in air cargo bound for the United States two weeks ago and Smiths said it was well-placed to support such changes, but expected further delays to orders as reforms are finalised. Tags: NULL 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 TimesBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionmoneycougar.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 FollowAlphaCuteBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver Healththedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp Share KCS-content center_img whatsapp Smiths confident as margin focus delivers 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 Tuesday 16 November 2010 8:40 pmlast_img read more

FSA recruits two new senior advisers to boost banking and risk departments

first_imgMonday 6 December 2010 7:24 pm FSA recruits two new senior advisers to boost banking and risk departments whatsapp Tags: NULL whatsapp Show Comments ▼ 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 Share CITY watchdog the Financial Services Authority (FSA) yesterday appointed two new senior advisers to strengthen its investment banking and risk management expertise.Simon Prior-Palmer, who will advise on investment banking issues, has more than 30 years’ experience, including as managing director of Credit Suisse’s UK investment banking division.Robert Stansbury, who will advise on risk management, has been a consultant on risk governance to financial services companies since 1993. Before that he was a director at former merchant bank Hill Samuel. FSA chief executive Hector Sants said Prior-Palmer and Stansbury both had “considerable experience to bring to bear on the regulatory changes and issues we face.”Before working at Credit Suisse, Prior-Palmer was a vice president at JP Morgan and spent four years at the postal industry regulator Postcomm as a board commissioner from 2006. He is currently a non-executive director of Toronto-listed mining house Gabriel Resources.The FSA currently employs about nine part-time senior advisers to bring specific industry expertise and external knowledge.“Senior advisers are a core part of the FSA’s delivery of intensive supervision. The team provides experience on regulatory, market and consumer matters,” Sants said. KCS-content last_img read more

Novartis pays £8bn for rest of US’ Alcon

first_imgNovartis’ move completes the final stage of a lengthy process to get full control of the eyecare group, known for its contact lens solutions, and the dominant player in the multibillion-dollar market of intraocular lenses, small lenses implanted in the eye to correct problems focusing.Alcon is also number one in cataracts – an area that is set to benefit from ageing populations.Novartis also said it was restarting a SwFr10bn (£6.59bn) share buyback programme, suspended in April 2008, to minimise dilution to Novartis shareholders.Novartis’ decision to restart its share buyback is part of a growing trend among European drug firms to return cash to investors. Novartis pays £8bn for rest of US’ Alcon KCS-content Share 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 ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Wednesday 15 December 2010 7:45 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 PastBetterBe20 Stunning Female AthletesBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldDefinitionDesi 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 FarmFinancialAdvisorHeroesSean Hannity New Girlfriend Might Look Familiar To YouFinancialAdvisorHeroesArticles StoneLittle Boy Brings $2 Painting To Antiques Road Show, Not Realizing Its WorthArticles StoneAdventure CrunchHere Are the Most Famous Pro Wrestlers From the Past TodayAdventure Crunch Tags: NULL whatsapp NOVARTIS has wrapped up its long-awaited buyout of the remainder of US-listed Alcon for $12.9bn (£8.25bn), after sweetening its original offer with cash.The Swiss drugmaker is hoping the deal with its rival, worth some $52bn in total, will help it diversify and protect it against patent loss on big selling medicines such as blood pressure drug Diovan.Novartis has been trying to clinch 100 per cent ownership in Alcon since the start of the year, but its original all-paper offer of 2.8 Novartis shares for each Alcon share met stiff resistance from Alcon’s directors, who repeatedly dismissed it as “grossly inadequate”. Show Comments ▼ whatsapplast_img read more

Britain’s best drafted in to run Whitehall

first_imgWednesday 15 December 2010 8:58 pm More From Our Partners Killer 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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com whatsapp whatsapp Share 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 AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald Tags: NULLcenter_img KCS-content Show Comments ▼ Britain’s best drafted in to run Whitehall THE Cabinet Office yesterday published a list of top business leaders who have been appointed as non-executive directors to sit on Whitehall boards. The appointments are designed to ensure the government operates in a more business like manner and are the brainchild of Cabinet office minister Francis Maude and Lord Browne, the recent author of the report on higher eduction funding and former chief executive of BP.Among the list of appointments are Sara Weller, chief executive of Argos, Jim Leng former chairman of Rio Tinto and deputy chairman of Tata Steel, chief executive of GlaxoSmithKline Andrew Witty and Babara Stocking chief executive of Oxfam.Of the 31 board members announced yesterday, 13, or 42 per cent, are women. The remaining list of board members will be published in the New Year which is also when the first board meetings are expected to take place. The Cabinet Office said the non-executive board members will help steer responsibility for strategic and operational leadership for each government department and for agreeing each department’s three-year rolling business plan.They will also provide advice and support to ministers and civil servants, challenge discussions and discuss any performance issues with Lord Browne and the Prime Minister, the Cabinet Office added. Maude, said: “Today’s names include business heavyweights with huge experience of financial management and improving operational performance and they will play a key role in helping departments rise to the challenge and deliver further savings. Previously, we have paid millions of pounds to consultants for this kind of advice.” He added new efficiency measures put in place by the government had already saved over £1bn. last_img read more

China overshoots loan target

first_img whatsapp China overshoots loan target Share CHINA overshot its bank loan target in 2010 and finished the year with money growth still running too fast, underscoring the need for more decisive policy tightening to keep inflation in check.At the same time, a record $199bn surge in foreign exchange reserves in the fourth quarter pushed China’s stockpile, already the world’s biggest, to $2.85 trillion, highlighting that money streaming in from abroad was complicating policy efforts at home.Chinese banks issued 7.95 trillion yuan (£1 trillion) in new loans last year, the central bank said yesterday, more than the 7.5 trillion yuan that the government wanted for the full year. The broad M2 measure of money supply grew 19.7 per cent, also topping the official target of 17 per cent.“Lending is still excessive and China’s process of monetary normalisation has not finished yet,” said Wu Tujin, economist with Guosen Securities in Shenzhen. “That means China will still face high pressure from inflation and asset bubbles.”More than just an economic issue, high-speed money and credit growth has become a political concern, helping propel Chinese consumer inflation to its fastest in more than two years.Determined to rein in rising prices, a source of public discontent, the government declared late last year that it would shift to a tighter monetary policy stance. Some effects of that could be seen in the data for the final month of the year.Chinese banks extended 481bn yuan in new loans in December, down from 564bn yuan in November and the lowest in one year. Tuesday 11 January 2011 7:45 pm KCS-content More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org whatsapp Show Comments ▼ Tags: NULLlast_img read more