WHAT THE OTHER PAPERS SAY THIS MORNING

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice 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.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.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.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.com whatsapp Tags: NULL The Daily TelegraphEU APPROVES FURTHER GREEK DEBTThe European Commission has approved the next €9bn (£7.4bn) tranche of loans for Greece but the underlying economy continues to deteriorate as Greek banks suffer a record loss of deposits and output contracts at a quickening pace. A report by HSBC said banks had lost eight per cent of their entire deposit base in the five months to May.BANKS ADD £1,700 A YEAR TO FIXED RATE MORTGAGESHome owners are paying £1,700 a year more for fixed-rate mortgages as banks enjoy record profit margins. Despite receiving billions in taxpayer support during the credit crisis, high street lenders are refusing to pass on the full benefit of low interest rates to customers, figures show. Instead, they have used the cheap cost of borrowing to increase their profit margins.WALL STREET JOURNALRUSSIA’S WOES PUSH UP WHEAT Wheat prices jumped back to $7 a bushel on worsening prospects for Russia’s harvest this fall and beyond.Russia will likely boost its grain imports amid a persistent drought that already has forced it to ban exports. Although the country was one of the world’s largest wheat exporters last year, the usual trickle of imports could turn into a flood to make up for the anticipated shortfall in this year’s harvest, further squeezing global supplies.GERMANS RAISE GROWTH FORECASTThe Deutsche Bundesbank yesterday raised its forecast for German economic growth in 2010, becoming the first official body to upgrade its outlook after data last week showed the fastest growth in 20 years. In its monthly report , the Bundesbank lifted its 2010 forecast by three pre cent. KCS-content FINANCIAL TIMESACCOUNTING ISSUES MAR CONNAUGHT SELL OFF PLANSAccountancy issues at Connaught are expected to have affected more than just the beleaguered property service group’s social housing maintenance division, according to people familiar with the matter. The development may affect the ability of Connaught to sell off parts of its business, which is one of the potential options under consideration as part of the FTSE 250 company’s talks with lenders over its debts.CHINESE BOSSES SPLIT ROLES AT CNOOC AND CHINA MOBILETwo of the most senior managers at Chinese state-owned enterprises resigned from their chief executive posts yesterday, the latest in a series of moves separating the roles of CEO and chairman. At CNOOC, Fu Chengyu resigned but is keeping his role as chairman of the offshore oil and gas company, while Wang Jianzhou at China Mobile followed suit.FACEBOOK IN NEW ADS INITIATIVEFacebook users can already poke, post, like and share. Now the social networking website has added another activity to its arsenal of social activities – users can now “check-in”. With its Places feature, which it launched on Wednesday, users can broadcast their location to the web, track their friends’ movements and see who else has checked-in to a specific location.MASTERCARD IN SOFTWARE MOVEMasterCard, the world’s second-largest payments network, yesterday signalled its intent to fight back in the rapidly changing industry after agreeing to buy DataCash, a UK payment service provider. The US company will pay 360p per share in cash, a 53 per cent premium to DataCash’s closing price on Wednesday.THE TIMESTAX BREAK THREAT ALARMS DRUG COMPANIESA £1.3bn tax incentive designed to foster pioneering research in Britain could be scrapped by the government, The Times has learnt. The so-called patent box, which was introduced to encourage research, is being questioned in the Treasury amid concerns that it is expensive and aimed at a relatively narrow sector of the economy.TAXMAN TO ADOPT SOFTLY SOFTLY APPROACH TO RAISE MORE CASHHM Revenue & Customs will adopt a softer approach towards businesses involved in tax disputes in an effort to get access to money tied up in court cases. This approach marks a move away from Gordon Brown’s clampdown on tax avoidance, which started when he was Chancellor of the Exchequer in 2004. WHAT THE OTHER PAPERS SAY THIS MORNING center_img Show Comments ▼ Share whatsapp Thursday 19 August 2010 9:04 pmlast_img read more

Pramerica moves £100m of London office buildings

first_imgMonday 6 September 2010 8:13 pm Show Comments ▼ KCS-content 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: NULL whatsapp Pramerica moves £100m of London office buildings whatsapp INVESTMENT manager Pramerica announced the completion of £100m of property transactions yesterday, in a sign that the prime London office market is beginning to move. The real estate investor bought 20 Grafton Street in Mayfair for £47.8m, on behalf of a family office. The building is currently fully leased to investment bank Perella Weinberg Partners, with around 12 years remaining on the lease.The firm has also completed the sale of 50 Broadway in Westminster for £53.7. The office block, let to lawyers Bircham Dyson Bell, was bought by an unnamed client of Citi Private Bank. “Our objective has been to take advantage of the recent strength of the London investment market”, said Pramerica portfolio manager Ben Penaliggon.Pramerica owns property across Europe and the Middle East with a net asset value of $4.1bn (£2.66bn). Sharelast_img read more

IG revenue surges to £79m

first_img Tags: NULL Thursday 9 September 2010 4:11 am John Dunne IG revenue surges to £79m More From Our Partners Brave 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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Share Britain’s biggest spread betting company IG, posted a sharp rise in first quarter revenues and said it was well placed for further growth despite continued financial market uncertainty.Turnover for the three months ending 31 August rose 16 per cent from last year to £79m, driven by higher revenues in Singapore, Europe, Australia and at the company’s main UK division.IG said that while volumes were strong in the first half of the quarter, they became more subdued towards the end of the quarter due to the summer holiday season and low volatility.“It remains difficult to predict future trends in volatility or customer reaction to changing market and economic conditions,” IG Group said in a statement.“Growth in the number of active customers and the continued development of the group’s offering leave the group well positioned for further growth,” it added. whatsapp whatsapp Show Comments ▼last_img read more

Digital investment pays dividends

first_img 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 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 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 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 TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Digital investment pays dividends ICAP’s decision to invest $250m in new technology last year is going to pay dividends. Having attracted over €10bn worth of interest rate swaps (IRS) to its new electronic platform during its first week of operation, it is now reaping the rewards. Big investment banks like Citi, BarCap, Deutsche Bank and JP Morgan are market makers on the new system, and are clearly trading with gusto. They will be hoping that the decision to move IRS on to an electronic platform will satisfy regulatory demands for greater transparency in the over-the-counter (OTC) derivatives market; until now, the IRS market has been controlled by dealers who did not disclose prices publicly. The advantages of electronic trading go much deeper. Banks are able to execute more complex trades than they could over the phone, such as a series of different trades simultaneously. The possibilities for ICAP are obvious. IRS account for almost three quarters of the OTC market, with euro IRS worth some $4 trillion. Phone broking is dead, long live electronic platforms. Tuesday 14 September 2010 8:56 pm Show Comments ▼center_img whatsapp Share KCS-content Tags: NULLlast_img read more

Experian buys Mighty Net in £133m deal

first_imgTuesday 21 September 2010 3:35 am John Dunne Tags: NULL whatsapp 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 Show Comments ▼ center_img whatsapp Experian buys Mighty Net in £133m deal Credit information company Experian has bought US peer Mighty Net Inc for $207.5m (£133m), in a deal which Experian said would consolidate its market leading position in the United States.Mighty Net, which was founded in 1996, provides online services to US consumers interested in managing their credit behaviour.As of 30 June 2010, Mighty Net had approximately 680,000 subscribers in the United States.The company, whose brands include the CreditReport.com, CreditScore.com and MyCreditScore.com websites, had 2009 revenues of $115m and earnings before interest and tax of $28m.Experian said it expected to increase the revenue per member among Mighty Net’s subscriber base and was targeting savings of around $4m from the deal in the year to March 2012 and savings of $5-6m in the following year. 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 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.comlast_img read more

Thomas Cook

first_img Thomas Cook KCS-content Tuesday 28 September 2010 11:03 pm 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 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 ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof Share whatsapp Tags: NULL INVESTORS have lost patience in trusting Thomas Cook to deliver an Indian summer. Yesterday’s £10m downgrade to full-year profits comes fast on top of August’s profit warning, and sent investors scurrying for warmer climes. The shares’ 6.3 per cent fall to 171.7p means they now stand at their lowest point since December 2008, and are trading at just 6.6 times 2011 earnings, much cheaper than peer Tui which trades at 8.9 times earnings. Yet Thomas Cook offers a prospective dividend yield of 6.6 per cent, compared to Tui’s 5.4 per cent. And Thomas Cook’s latest disappointment comes from a technical hitch – problems with aircraft in August meant that last-minute replacements had to be hired expensively – and should be a one-off. And if chief executive’s Manny Fontenla-Novoa’s claim that trading conditions this year have been worse than after the 9/11 terrorism attacks, then the fact that bookings for next summer are up nine per cent, with average selling prices up four per cent indicates that the only way from here is up. The 2010 summer season was relatively successful with departed load factor, a measure of how full the group’s planes were, still high at 94 per cent and while £390m in full-year pre-tax profits is lower than the £420m expected, consensus expectations were only £30m higher before the volcanic ash-cloud emerged. Analysts believe a fair share price lies around 250p – now could be the right time to pick them up at rock bottom. Show Comments ▼last_img read more

Lions Gate eyes a merger with MGM

first_img whatsapp whatsapp Share Lions Gate eyes a merger with MGM KCS-content AMERICAN film studio Lions Gate Entertainment proposed a merger with troubled rival Metro Goldwyn Mayer (MGM) yesterday, in a move to end months of tussling over the ownership of both firms.Lions Gate’s biggest shareholder, corporate activist Carl Icahn, gave the merger offer his blessing yesterday, saying in a statement that such a deal would “enhance value for all constituencies”.Icahn also holds $500m (£316.5m) of MGM’s debt, and has spent the last year bidding to take over Lions Gate. Terms of the offer have not been disclosed, but reports last night said MGM’s creditors would own 55 per cent of the combined company. Icahn said in a regulatory filing he preferred Lions Gate’s offer to an earlier deal offered by Spyglass Entertainment. MGM, home to the James Bond films and a new remake of The Hobbit, asked its creditors last week to accept a pre-packaged bankruptcy plan in which Spyglass would take 95 per cent of MGM’s shares in exchange for more than $4bn of its liabilities. Creditors have until 22 October to agree to this arrangement, the same days that Icahn’s latest bid to take over Lions Gate expires. Lions Gate said yesterday’s offer “follow[ed] detailed discussions” with Icahn, suggesting it has set aside its differences with Icahn in pursuit of MGM. center_img 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 Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap 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 Tags: NULL Show Comments ▼ Tuesday 12 October 2010 9:14 pmlast_img read more

WPP not planning UK return

first_img KCS-content WPP not planning UK return 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 HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsapp Monday 29 November 2010 9:02 pm Share LEADING marketing agency WPP is unlikely to return its tax base to the UK even if the Treasury reforms the corporate tax regime, it emerged yesterday.Sources close to the company said it would not be bounced into a “knee-jerk” reaction over the reform of controlled foreign company tax (CFC).WPP moved its tax base to Ireland in 2009 citing the CFC regime as the reason. Since then several other companies have followed including Henderson Group, pharmaceutical firm Shire and United Business Media. There have been hints that WPP could return its tax base to the UK, and George Osborne also made a personal plea to Sir Martin Sorrell, WPP’s chief executive to do so in June.But a source told City A.M: “There can be no guarantees. Whatever this administration may put in place with regard to CFCs, the danger is what happens if this administration isn’t in power?” “WPP is pretty supportive of some of the things this administration has done, but there is no knee jerk reaction to these moves; there can not be any guarantees”Meanwhile, Shire said it would remain cautious as to the proposed reforms. A spokesperson said: “We will follow the development of any UK proposals, and when we see any actual legislation we will consider its implications.” center_img Show Comments ▼ whatsapp 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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.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.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Tags: NULLlast_img read more

Shell profit soars – but misses forecast

first_img Show Comments ▼ Tags: NULL whatsapp John Dunne Royal Dutch Shell posted a near fivefold increase in fourth quarter net profit – powered by higher oil prices.The company said fourth quarter 2010 earnings, on a current cost of supplies basis, were $5.7bn (£3.5bn) compared to $1.2bn a year ago when the company suffered heavy refining losses.Excluding non-operating and one-off items, the result was $4.1bn, compared to an average forecast of $4.85 billion in a Reuters poll of seven analysts. Exxon Mobil reported a better-than-expected 53 per cent increase in quarterly profit on Monday, while Chevron said net income rose 73 per cent.BP Plc, which is struggling to put the Gulf of Mexico oil spill behind it, reported a 34 per cent rise in Replacement Cost (RC) net income. The result would have been up only slightly were it not for $1.4bn in gains from asset sales.RC and CCS net income strip out unrealised gains related to changes in the value of fuel inventories, so are comparable to U.S. net income.Benchmark U.S. crude prices averaged about $85 per barrel in the fourth quarter, up from $76 in the fourth quarter of 2009. Shell profit soars – but misses forecast center_img whatsapp Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoOne-N-Done | 7-Minute WorkoutAdvertisement 7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndo Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Thursday 3 February 2011 2:47 amlast_img read more

Why quotas are the wrong answer

first_img whatsapp Tags: NULL whatsapp Sunday 13 February 2011 11:47 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe 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 AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Sharecenter_img QUOTAS are wrong. In a free, liberal society, people should never be given jobs just because they happen to be part of a particular group. Applicants should be judged solely on their merits – for their ability to perform and their motivation – and not on whether they tick an arbitrary box. There should be no discrimination against or in favour of any group and no favouritism. Those who want strict rules on the proportion of women on quoted company boards are rightly seeking to improve women’s chances and to help them realise their dreams – but their methods will fail. Quotas are tantamount to placing a sticking plaster on an infected wound, and assuming that all is now well. Quotas devalue the achievements of those who climb to the top without any artificial assistance, punish those who are discriminated against, inevitably promote inferior candidates (and hurt firms) and create resentment. They replace one flawed network by another: instead of the old school tie, whereby a small group of male cronies serve on vast numbers of boards, an even smaller number of women would end up doing the same, in an even more extreme manner. The figures would look better, but there would be no real transfer of power.Other solutions are needed. For a start, there is a desperate need to better understand the real reasons why there aren’t more women in top jobs and what can be done to sweep away barriers to a truly meritocratic Britain. Clearly, the old-fashioned, in-your-face, despicably sexist discrimination of yore is in dramatic retreat – but that has not been enough. Intriguingly, there has been an explosion of foreign-born male CEOs – the UK boardroom, at least at the top, is no longer a closed shop dominated by a self-perpetuating elite. But this hasn’t translated into a shift of the gender balance: the share of female FTSE 100 directors seems stuck at 12.5 per cent and just 7.8 per cent for the FTSE 250, as Cranfield University’s annual FTSE Board Report points out. In 2009, of the 14 new women hired as FTSE 100 directors for the first time, only one was British. Of the five female FTSE 100 CEOs in 2011, just two are British, three American (and if Santander UK floats, the sixth would be Spanish). UK born-women are falling behind even their foreign-born counterparts, let alone men. It is not just boardrooms that are male-dominated – this is a much more general issue. Take the Cabinet: out of 23 members, four are women (including a minister without portfolio); another six (male) ministers also attend meetings. So 17.4 per cent of members are women, falling to 13.8 per cent of ministers in attendance. All the powerful positions are held by men, with only minor departments (and non-departments) in the hands of women. The media is no different: out of eleven national daily paid-for papers, ten national Sundays, three free daily commuter papers and the three top-circulating current affairs/political weekly magazines, just two (7.4 per cent) are edited by women. There is hope. Eighty-two FTSE 100 companies have women on their executive committees. Many of these will eventually graduate to main board directorships. There is also a growing pipeline – 2,551 women on the corporate boards and executive committees of all FTSE listed companies, not counting the women on FTSE 100 corporate boards. Change is coming. I wish I knew how to speed it up – but quotas are clearly not the way forward. [email protected] me on Twitter: @allisterheath Show Comments ▼ KCS-content More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell 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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Why quotas are the wrong answer last_img read more