Eurozone manufacturing growth slows

first_imgThursday 23 September 2010 4:28 am 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 Eurozone manufacturing growth slows whatsapp Show Comments ▼ whatsapp John Dunne THE pace of growth in the eurozone’s services and manufacturing sectors slowed much more than expected this month, but surveys showed businesses were more optimistic about the future.Markit’s Eurozone Flash Services Purchasing Managers’ Index, made up of surveys of around 2,000 businesses ranging from banks to restaurants, slumped to 53.6 in September from 55.9 in August, its lowest reading since February.The index has now been above the 50.0 mark that divides growth in business activity from contraction for just over a year but was well below the consensus forecast in a Reuters poll for 55.5.“Quite a dramatic easing since September, but the third quarter as whole is not looking too bad. It’s still a strong pace of growth … we think we are looking at (GDP) growth in the region of 0.6 per cent,” said Chris Williamson at data provider Markit.The pace of growth in the euro zone manufacturing sector, which drove a large part of the economy’s return to growth in the third quarter of last year, saw its pace of growth ease off to its slowest since January.The flash manufacturing index fell to 53.6 in September from 55.1 in August, missing forecasts for 54.5, while the output index sank to 54.4 this month, from 57.1 in August.The composite index, made up from the services and manufacturing sectors and often used to predict overall growth, sank to 53.8 this month from 56.2 in August, well short of expectations for 55.7.The euro zone escaped from its deepest recession in post-war history in the third quarter of last year, having pumped billions of euros into recovery measures, and relatively strong second-quarter growth of 1.0 per cent announced last month surprised markets.Still, economists in a Reuters poll expect economic growth to slow to a crawl over coming quarters as austerity packages begin to bite, though the chances of the bloc slipping back into recession remain slim.Median forecasts from the poll of around 70 economists predict the 16-nation bloc will grow by 0.2 to 0.4 per cent each quarter through to the end of next year.The manufacturers’ new orders index slumped from 55.3 in August to 52.8 in September, its lowest in a year, on the back of a slowdown in global trade in recent months.The service sector saw its new business index fall by a similar margin.Data released on Wednesday showed industrial new orders fell more than twice as much as expected month-on-month in July, pulled down by a slump in demand for capital and durable consumer goods.However, service sector’s business expectations index – which gives an indication of how firms think the situation will be in a year’s time – rose to 68.1 this month from August’s 67.1, its highest reading since April. Share Tags: NULLlast_img read more

EU proposals target radical audit revamp

first_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden 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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Tags: NULL Show Comments ▼ whatsapp EU proposals target radical audit revamp Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal 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 AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp “BIG FOUR” accountancy firms could be forced to scale back their audit activities in the future, if a European Commission consultation on shaking up the industry finds that the scale of individual players poses a systemic risk.The EU’s internal markets commissioner Michel Barnier yesterday launched the wide-ranging consultation to examine whether the role of auditors can be altered to reduce the likelihood of future shocks to the financial system.Barnier highlighted a number of areas to be explored in addition to the impact of having a number of dominant audit firms – including the independence of firms also providing non-audit services to clients, the reliability of audited financial statements, EU-level supervision and the specific audit needs of the SME market.“The veracity of financial statements is central to confidence in the marketplace,” Barnier said yesterday, calling for a “frank and open” discussion of the issues facing the industry where “no subject should be taboo”.But the suggestion of a possible enforced scaling-back of larger auditors’ remits left the “Big Four” reeling, with industry participants warning that size can be an important factor in improving the quality of service provided to clients.“Modern business is complex and demands auditors to have geographic scale and access to many areas of expertise which is available in a multi disciplinary environment,” cautioned KPMG. “We believe that market interventions, such as reducing the scale of the existing firms, would be prejudicial to audit quality.” KCS-content Wednesday 13 October 2010 7:53 pmlast_img read more

IHG boosted by new look Holiday Inn

first_imgMonday 25 October 2010 8:04 pm Tags: NULL IHG boosted by new look Holiday Inn More From Our Partners Why people are finding dryer sheets in their mailboxesnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell 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.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org InterContinental Hotel Group (IHG), the world’s largest hotelier, said yesterday revenue per available room (revpar) in the Americas region was boosted by the ongoing relaunch of its Holiday Inn hotels and the return of business travellers.The company, whose brands include namesake hotels along with the Crowne Plaza and Holiday Inn, said revpar, a key industry metric, rose by 7.9 per cent at its 557 relaunched Holiday Inn hotels, strongly outperforming those which have been not yet been relaunched.The hotelier, which typically manages or franchises hotels instead of owning them and earns 70 per cent of its profit in the United States is heavily reliant on its mid-market Holiday Inn chain.Revpar in the overall Americas region was up 6.7 per cent in the third quarter, as business travellers continued to return in greater numbers, the group said. InterContinental will announce its full third quarter results on 9 November.The company spent $1bn (£488m) in the makeover for the Holiday Inn brand with a new logo – in the biggest rebranding in the history of the hotel industry. Analyst at Hargreaves Lansdown Richard Hunter said: “There has been some resurgence in the business traveller market, while the middle of the range Holiday Inn chain in the US has seen something of a surge in revpar since its relaunch. The ongoing cost-cutting programme and continuing expansion plans have also helped.”Hunter added: “The group is well placed despite the challenges of the current environment.” IHG shares have surged by around 48 per cent so far this year. The company has seen an upturn in business traveller numbers following the global economic downturn. IHG is expanding at a rapid pace in China where the market is booming and ripe for massive expansion, according to the firm’s top executives. Shares in IHG closed up one per cent at 1,225p. whatsapp KCS-content Show Comments ▼ Share whatsapplast_img read more

Barclays hopes its new CoCo will prove a hit with investors

first_img KCS-content 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 whatsapp Share Barclays hopes its new CoCo will prove a hit with investors BARCLAYS is experimenting with a new contingent convertible (CoCo) in a bid to prepare itself for new European capital rules.It has devised a new CoCo that would not only convert to equity if the bank’s capital ratio declined, but convert back again if things improved again.The debt instruments will count towards capital buffers required of global systemically important financial institutions (GSifis).High-yielding CoCos are riskier than bonds but are in great demand as the chance of banks’ capital ratios declining to levels that would trigger the equity switch decline.Barclays finance director Chris Lucas is believed to be interested in blazing the trail, which could make it the industry leader in the financial instrument.A Barclays spokesman declined to comment. However, a source close to Barclays told City A.M.: “We believe we have enough extra capital to meet the new rules. However, given the changes coming up with Basel we are looking at a range of possible routes we can follow to shore up our position. It would be a surprise to shareholders if we weren’t doing this.” whatsapp Monday 15 November 2010 8:57 pm Show Comments ▼ Tags: NULLlast_img read more

Vedanta will delay $1.1bn copper float

first_img 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 The Dream Girl In The 90s, This Is Her NowMoneyPailUndoSerendipity 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 HeraldUndoZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldUndoHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemUndo whatsapp Show Comments ▼ Share LONDON-listed Indian miner Vedanta has delayed an initial public offering (IPO) of its Zambian copper business until next year, citing stock market volatility.It is the first big European IPO to fall victim to a renewed wave of financial market turbulence brought on by the Irish debt crisis.Earlier this month, Vedanta announced plans to list Konkola Copper Mines (KCM), the second-biggest integrated copper producer in Africa, selling new and existing shares to raise about $1.1bn (£710m) to be used by KCM to boost output.Kishore Kumar, chief executive of KCM’s holding company Konkola Resources, had said the London listing was expected next month, while a source close to the deal had said final pricing was expected in mid-December.But the company said yesterday the listing was not expected before next year.“With year end approaching and the current stock market volatility, the boards of Vedanta Resources and Konkola have decided to pursue such a listing in 2011,” it said.After a relative resurgence in European offerings in October and early November, supported by stock markets trading at two-year highs, concerns over Eurozone debt following Ireland’s bailout have increased market turbulence.The IPO market is also winding down. No further new deals are likely to be launched this year as there would not be enough time to complete the usual month-long process and allow newly listed shares to trade properly before the Christmas break.Shares in Vedanta, which also plans to list its Indian Sterlite Energy commercial power generation subsidiary, fell sharply following the announcement but recovered some losses to close 1.2 per cent lower at 1,986p. Tags: NULLcenter_img Tuesday 30 November 2010 7:33 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking 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 Proof Vedanta will delay $1.1bn copper float whatsapplast_img read more

Shares at Laura Ashley jump as revenues grow

first_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden 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.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com whatsapp Share Tags: NULL Show Comments ▼ FASHION and home wares retailer Laura Ashley Holdings said yesterday it was confident that full-year trading would be ahead of its expectations, despite heavy snowfall in the UK and uncertain economic conditions.The company’s shares, which have gained 30 per cent in the past year, closed 14.7 per cent higher at 19.5p after yesterday’s trading statement. For the first 19 weeks of the second half to 11 December, Laura Ashley’s total UK retail sales rose 1.3 per cent, while like-for-like sales grew 2.7 per cent. “We have opened two new stores and closed 12 this year and continue to streamline our store portfolio in an effort to optimise profitability”, the company said. The company, which also sells fashion, decorating and furniture products, said a drive to close less profitable sites had helped to improve profitability. whatsapp Shares at Laura Ashley jump as revenues grow Thursday 16 December 2010 7:54 pm KCS-content last_img read more

BHP ditches Merrill after Potash failure

first_img Tags: NULL KCS-content 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeHistorical 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 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 Show Comments ▼ Sharecenter_img BHP BILLITON has dumped corporate brokers Bank of America Merrill Lynch and is now considering a list of names for a replacement, to be determined in the New Year.BHP’s decision follows the rejection of its expensive bid for Potash Corp by Canadian authorities last month, although BoAML was not actually actively involved in the bid on BHP’s side.In fact, the investment bank was actively advising Potash Corp in its successful defence against the hostile bid. Potash also employs Goldman Sachs and RBC Capital Markets as brokers.BHP’s move is a blow for BoAML, which has served as BHP’s corporate broker for five years, including in the run-up to the $39bn (£25.1bn) bid for Potash. The FTSE 100 miner will keep Citigroup on as a broker.BHP has been criticised since the failure of its bid by some who say it was inevitable that Canada would block any attempted foreign takeover of the fertiliser company. Instead, BHP has said that it will use some of its amassed capital to complete a formerly suspended $13bn share buy-back.Bank of America Merrill Lynch refused to comment. Sunday 19 December 2010 10:56 pm BHP ditches Merrill after Potash failure whatsapp whatsapplast_img read more

Citigroup’s Indian investment bank branch accused of fraud

first_img whatsapp Tags: NULL Share CITIGROUP chief executive Vikram Pandit was among the executives named in a fraud case registered by the Indian police yesterday. The bank has been accused of investment fraud by one of its New Delhi customers, Sanjeev Agarwal, who put the cost of the alleged fraud at around 324m rupees (£4.6m) in a written complaint. The bank said in a statement that it identified a fraud and immediately reported it to regulators and law enforcement agencies. It added that the claims against senior executives “are completely without basis and we intend to contest them vigorously”. A Citigroup employee in New Delhi was arrested last month and has been suspended by the bank. The police said yesterday that they had registered the case and will investigate the charges. Show Comments ▼ whatsappcenter_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.com 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 AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition KCS-content Tuesday 4 January 2011 8:32 pm Citigroup’s Indian investment bank branch accused of fraud last_img read more

Global economic recovery will pick up pace around April 2011, OECD predicts

first_img Global economic recovery will pick up pace around April 2011, OECD predicts Monday 10 January 2011 7:42 pm Tags: NULL GROWTH in economies across several continents is set to accelerate, the Organisation for Economic Co-operation and Development (OECD) said yesterday.However, economic growth in Britain is merely showing “signs of stabilisation,” the report said.The OECD’s indicators, measured in November, are designed to anticipate turning points in economic activity six months in advance.“We expect [British] GDP growth to stabilise at 0.3 per cent in the second and third quarters of 2011,” said IHS Global Insight’s Howard Archer, commenting on the latest figures.China, the US, France and Japan showed clear signs of increasingly expanding economies, the OECD revealed.The report’s headline rate for the OECD area increased to 102.8 in November, up from 102.6 in October. All readings over 100 points indicate growing economic activity.Brazil was the only country to record an impending economic contraction, with a score of 98.6.The highest levels were recorded in Germany (104.9) and Russia (105.3). whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proofcenter_img KCS-content whatsapp Show Comments ▼ 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 AthletesBetterBeElite 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 HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Sharelast_img read more

Brewin Dolphin in fury at £6m bill for bust firms’ victims

first_imgWednesday 26 January 2011 7:11 pm More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org whatsapp Share KCS-content Show Comments ▼ whatsapp Tags: NULL Brewin Dolphin has been slapped with a £6m bill from the Financial Services Compensation Scheme (FSCS) as part of an industry-wide burden that will hit bonuses and could even put some smaller brokers out of business.The FSCS has sent invoices totalling £326m to wealth management firms to collect compensation for investors in two firms that went bust. Keydata Investment Services collapsed owing £247m after selling fraudulent bonds to more than 5,000 investors and Wills & Co ceased trading after being hit with a £1.5m fine by the Financial Services Authority (FSA) for mis-selling.Charles Stanley was asked to pay £2.6m and Rathbone Brothers has been billed for £3.2m. The invoices, which must be paid within a month, will hit profit sharing schemes at wealth management firms, directly penalising brokers.Brewin Dolphin said it was “extremely disappointed” by the “failure” by the FSA. Meanwhile, Brewin Dolphin reported a 16 per cent rise in revenues from a year earlier as its investment management arm attracted new client money. A 17 per cent increase in income from investment management offset a 13 per cent decline from its corporate advisory and broking business.The total value of its managed funds grew seven per cent from the previous quarter to £24.8bn, boosted by rising stock markets but also helped by £500m of new money.Charles Stanley reported 14 per cent revenue growth during its third quarter to £32.3m. Brewin Dolphin in fury at £6m bill for bust firms’ victims last_img read more