first_img whatsapp OIL services and engineering group Amec posted a 20 per cent rise in first-half profits yesterday and said it saw customer spending returning in most of its key markets.Amec’s first-half earnings before interest, tax and amortisation rose to £113.5m from £94.5m in the same period last year.Its order book grew eight per cent to £3.5bn, it said, adding that the Gulf of Mexico oil spill would have no impact as it has a small exposure to the region.“We see a story of gradual improvement to our pipeline,” said chief financial officer Ian McHoul. Amec – whose customers operate in the mining, oil and oil sands, nuclear power and renewable energy sectors – said in March that 2010 would be challenging, but saw a return in the first half after winning contracts with BP in Azerbaijan and the US Navy.Amec’s full-year earnings before interest and tax are forecasted at £228m. Amec’s shares yesterday closed 5.1 per cent up at 891.5p. KCS-content More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida 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.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.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com Amec is upbeat on future as customers spend more by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldReporter center[Photos] Meet The Man Katie Couric Is Romantically Involved With In 2021Reporter centerBetterBe20 Stunning Female AthletesBetterBeCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fanautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal Pastcenter_img whatsapp Share Thursday 26 August 2010 8:04 pm Show Comments ▼ Tags: NULLlast_img read more


first_img whatsapp KCS-content Show Comments ▼ Thursday 2 September 2010 7:49 pm McBride warns of costs after 38pc rise in profit by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeGmc Sierra | Search Ads2019 GMC Sierra 1500 Specs, Price, MPG & ReviewsGmc Sierra | Search AdsInvest ClownRemember Susan Anton? Try Not To Smile When You See Her NowInvest ClownTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastDiscoveryPearl Harbor Plane Wreck Found on the Ocean FloorDiscoveryBuzzerty8 Signs you may have Rheumatoid ArthritisBuzzertyHistory DailyExtraordinary Nature Photos That Haven’t Been EditedHistory DailyCakeHDThe 50 Most Beautiful Women Of All Time.CakeHDzenfir.comYou Will Never Throw Away a Banana Peel Again After You See Thiszenfir.comwww.tripminutes.comThese are the 25 Most Dangerous Cities In The Worldwww.tripminutes.comcenter_img whatsapp Share Tags: NULL 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.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org EUROPE’S biggest maker of own-brand household and personal care goods McBride said it faced rising raw material costs and weak retail markets as it met forecasts with a 38 per cent rise in annual profit.The group said yesterday it was better placed to cope with challenging conditions than in the past, and that recent trading was in line with expectations. The firm has agreed to buy an initial 70 per cent interest in Dermacol, a privately owned, Czech-based manufacturer of skincare products for an expected £8m. It will buy the rest in 2017 in an incentive deal with the current management team. The full-year dividend was lifted 13 per cent to 6.8p a share, while net debt was cut £22.4m to £60m.“Although weak retail markets and raw material inflation will remain challenging in the short term, our balance sheet remains strong,” McBride chief executive Chris Bull said. last_img read more


first_img KCS-content whatsapp Wednesday 29 September 2010 11:08 pm Liberty Mutual pulls $1.2bn US IPO plan More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com whatsapp Share Show Comments ▼ Tags: NULL LIBERTY Mutual Agency postponed indefinitely its planned initial public offering, quashing hopes that the planned $1.2bn flotation could give a needed jolt to the US IPO market.The property and casualty insurer announced the delay on the day the offering, blaming a poor economy and volatile markets. It was unclear how either had gotten appreciably worse since Liberty Mutual filed to go public in May, and some analysts blamed the offering’s rich valuation instead.It would have been the largest US IPO this year.Liberty Mutual Agency had planned to sell 64.3m shares for $18 to $20 each. At the midpoint of that range, the business would have a price-to-tangible book value of 1.4.By comparison, competitors Chubb and Travelers Companies are trading at multiples around 1.2 and 1.1, respectively, said Michael Paisan, a managing director at Stifel, Nicolaus & Co who specializes in insurance.“Investors saw through it,” Paisan said.Paisan added that average valuations for property and casualty insurers have been steady since Liberty Mutual Agency filed for an IPO on 10 May. He said the sector has been trading at a price-to-tangible book value of around 1.“What they are trying to do is transfer the blame for this situation to the market,” said David Menlow, president of IPOfinancial.com. “There were probably some unrealistic valuations that were put on the company to start with.”Liberty Mutual Agency is the 10th largest writer of property and casualty insurance in the United States. Its parent company, Liberty Mutual Group would have retained a greater than 80 per cent equity stake after the IPO. last_img read more


first_img KCS-content Monday 11 October 2010 9:04 pm whatsapp Show Comments ▼ Ladbrokes, Britain’s biggest listed bookmaker, got an earnings boost from the soccer World Cup and the company added yesterday that it was on track to meet full-year targets, sending its shares higher.Operating profit for the three months to 30 September rose 128 per cent from a year ago to £51.1m. The World Cup resulted in a surge in business, with revenue rising 12 per cent, while the company also lowered its operating costs. Ladbrokes is the latest gambling company to have reported an upbeat business outlook.In August, rival William Hill said it was on track to meet full year-expectations after reporting higher first-half earnings, while earlier this month Rank forecast a full-year performance around the top end of analysts’ expectations as it posted higher third-quarter revenue.“We see some cyclical recovery potential in retail, some catch-up potential relative to William Hill and reasonable long-term growth potential in online,” Morgan Stanley analysts said in a research note. Morgan Stanley kept an “equal-weight” rating on Ladbrokes shares.In August, new Ladbrokes’ chief executive Richard Glynn restored the dividend and unveiled a management shake-up along with a deal to buy gaming machines for Ladbrokes’ outlets. Glynn said Ladbrokes remained interested in the privatisation of state-owned betting firm the Tote, but it was not a top priority. Share More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com World Cup lift for Ladbrokes boosts shares whatsapp Tags: NULLlast_img read more


first_imgTuesday 19 October 2010 7:35 pm Daniel Stewart out of red after buying Mena-RL 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.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp KCS-content Share center_img Show Comments ▼ whatsapp DANIEL Stewart Securities returned to profit in the first six months of the year following its acquisition of Dubai based financial adviser Mena-RL in May, it said yesterdayPre-tax profit rose to £190,572, or 4p per share, for the first six months to 30 September compared with a loss of £699,000 for the same period a year earlier. Net assets also rose to £5.7m compared with £4.1m a year earlier, while revenues grew to £3m – up £1m year-on-year. Peter Shea, group chief executive, said the acquisition of Mena-RL had led to a substantial increase in international business, particularly from Asia. The opening of a new office in Kuala Lumpur had also resulted in a number of new clients and several new institutional investors.And the company launched a retail stockbroking division, which had successfully opened in excess of 450 accounts and now had assets under management of over £65m.Mena-RL is headed by Adam Wilson, who pulled out of taking up the role of chief executive of Daniel Stewart at the last minute earlier this year. Wilson previously sold Hichens Harrison to India’s Religare Enterprises for £55m in 2008. Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more


first_imgFriday 12 November 2010 9:23 am Tags: NULL Share Euro zone economic growth slumped in the July-September period versus the previous quarter and is likely to slow further as the divergence between robust Germany and the weaker euro zone periphery grows.The European Union’s statistics office, Eurostat, said gross domestic product in the 16 countries using the euro grew 0.4 per cent in the third quarter against 1.0 per cent in the second three months. GDP expanded 1.9 per cent year-on-year.Economists said the risk of another recession was small, but growth could slow to a quarterly rate of 0.2-0.3 per cent in the coming quarters and annual growth should ease to 1.1-1.4 per cent next year from an expected 1.7 percent in 2010.“We expect euro zone growth to be muted over the coming months in the face of serious headwinds, most notably significant fiscal tightening increasingly kicking in, slower global growth and recurrent sovereign debt problems,” said Howard Archer, economist at IHS Global Insight.The slowing growth was also signalled by industrial production in September which defied market expectations of a small monthly rise and fell 0.9 percent, cutting the annual increase to 5.2 percent against expectations for 7.1 percent.“The September weakness implies a weak carry over into the fourth quarter, suggesting a continuation of the growth slowdown,” said Ken Wattret, chief eurozone market economist at BNP Paribas.The third quarter expansion was mainly thanks to continued robust growth in the euro zone’s biggest economy, Germany, which grew 0.7 percent on the quarter, for a 3.9 percent year-on-year rise. The second biggest, France, saw GDP growth of 0.4 percent quarter-on-quarter and 1.8 percent year-on-year.“In the coming quarters…tensions will continue to mount because the German economy looks set to outperform the rest of the euro zone for years to come,” said Christoph Weil, economist at Commerzbank.He said that while budget deficit cuts will be a significant burden on demand in the euro zone periphery – Greece, Portugal, Spain and Ireland – in Germany, fiscal policy would only slightly dampen economic activity.Also, the German economy had substantially improved its competitiveness in the last few years, while other euro zone countries did not, he said.In Greece which needs economic growth to convince markets it will be able to repay its debts, the economy shrank 1.1 per cent on the quarter, for a 4.5 per cent annualised fall.“National divergence is, and will remain, a key theme when it comes to growth in the euro zone. We continue to expect Germany to outperform, while the fiscally distressed economies in the periphery will suffer most,” Wattret said. whatsapp John Dunne whatsapp Show Comments ▼ 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 Timesmoneycougar.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 FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory Euro Zone growth slows last_img read more


first_img Show Comments ▼ THE THREAT of all out war between North and South Korea fanned flames caused by another day of political upheaval in Ireland yesterday, sending markets tumbling.As markets plunged for a third successive session, the EU and IMF last night agreed to extend €85bn in emergency loans to Ireland ahead of the publication of its four-year austerity plan today – a precondition for the financing – in a last-ditch desperate attempt to prevent the carnage spreading to Portugal and Spain.The rescue package, the details of which are still being finalised, is expected to see the level of core tier one capital – a key indication of financial health – in the Irish banks ramped up to 12 per cent from eight per cent in a bid to bolster confidence in the financial system, and provide a bigger buffer against potential future losses. Bank of Ireland and Allied Irish Bank will effectively be nationalised by the move, as the government injects the additional funds by buying new shares in them. The rescue package means no significant lender in the Republic will now be free of state control, with Bank of Ireland, currently 36 per cent owned by the government, now set to be majority owned. Investors, however, remain worried the bailout could be jeopardised by the uncertainty in government. A key vote on the austerity budget – a vital precondition of the rescue package – is far from guaranteed, with MPs threatening to vote it down on 7 December unless Prime Minister Brian Cowen falls on his sword.Some economists yesterday said that even if Ireland can pass the necessary austerity measures it may not avoid defaulting further down the line.Ben May of Capital Economics said that the toxic combination of spiralling debt and sluggish growth might mean that Ireland “may well find the benefits of the defaulting outweigh the costs”.George Magnus, an economist at UBS, added: “The [bailout] doesn’t solve the problem of the solvency of the banking system or the need for Ireland to restructure its debt… It just kicks the can down the road in the same way as happened with Greece”.As the IMF called for calm, tensions between North and South Korea boiled over, after Kim Jong Il rained dozens of shells onto a South Korean island, leaving two marines dead.The bombardment, sparked by anger in the north over a disputed sea border, ranked amongst the worst clashes between the two sides since the Korean war almost 60 years ago.Markets continued to tumble, with the Eurostoxx 50 dropping 1.5 per cent to 2,745, the Irish ISEQ 20 index losing two per cent to close at 432, the Portuguese PSI dropping 1.3 per cent to close at 7,623 and the FTSE 100 losing 1.75 per cent to close at 5,581.3. Meanwhile, Irish 10-year gilt yields jumped to 8.4 per cent, Portuguese 10-year gilt yields rose over 6.9 per cent and Spanish 10-year note yields topped 4.9 per cent. The euro dropped from 85.3p to 84p against sterling. A febrile day on global exchanges was exacerbated when the US Federal Reserve downgraded its growth forecasts, casting further doubt on the health of the world’s largest economy. The Dow Jones Industrial Average dropped 1.3 per cent to 11,036.31. FIRST IRELAND, THEN NORTH KOREA… WHAT NEXT? KCS-content Tuesday 23 November 2010 9:14 pm Share Tags: NULL 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 PastUndoHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoLoveMyFamilyMag.comTop 15 Natural Foods to Control High Blood PressureLoveMyFamilyMag.comUndoWomenTales.com20 Pieces of Clothing Older Women should AviodWomenTales.comUndoSumabisEarly Warnings of Rheumatoid Arthritis – Know Before It’s Too LateSumabisUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoAlphaCuteBizarre Hells Angels Rules, #10 Is MandatoryAlphaCuteUndo whatsapp whatsapplast_img read more


first_img De La Rue appoints Cobbold as new chief whatsapp whatsapp British bank note maker De La Rue confirmed the appointment of Chloride chief executive Tim Cobbold as its new CEO, ending months of speculation and uncertainty about the firm’s leadership.Cobbold, who has worked at Chloride since 2007 and formerly worked at Smiths Group, had been in advanced talks with De La Rue over the past month and starts his new job in January.Investors have craved resolution to De La Rue’s leadership hiatus since former chief executive James Hussey stepped down after the company reported serious failings at a paper factory, leading to profit warnings and a slump in its shares. “(Cobbold’s) wealth of experience, including of international business at the most senior level, will be invaluable to De La Rue both in the short term as we work to resolve current uncertainties,” De La Rue’s non-executive Chairman Nicholas Brookes said.Last week De La Rue rejected a takeover approach worth £895m ($1.4 billion) from French rival Oberthur Technologies, calling it “highly opportunistic”. Hussey was highly regarded for his strong network of international and diplomatic contacts, which were seen by analysts as a major advantage in a secretive business which depends on government clients.De La Rue’s shares had shed more than 35 per cent, before regaining some of their value when they rallied 30 per cent on news of Oberthur’s bid. Shares last traded at 834.5 pence each, valuing the company at around £825m. John Dunne Tags: NULL Show Comments ▼ More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 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 Monday 13 December 2010 4:53 am Sharelast_img read more


first_img whatsapp Tuesday 14 December 2010 9:21 pm Show Comments ▼ GOLDMAN Sachs has hit back at allegations that its actions caused the collapse of two key mortgage hedge funds in 2007 at the onset of the financial crisis.In letters now published, Goldman told the US agency investigating the credit crunch it did not intend to force two funds run by Bear Stearns Asset Management to fail when it drastically lowered the valuation of their sub-prime assets in early 2007.The Financial Crisis Inquiry Commission had suggested that Goldman’s valuations of the securities were deliberately low and led the funds to fail. Their collapse ultimately led to the fall of Bear Stearns.Goldman said its markdown would not have materially altered the funds’ valuation, which was instead “attributable to the market-wide decline in prices of mortgage-backed securities during this period,” its letter to the FCIC’s Christopher Seefer said.Goldman had loaned the funds $453m (£286m) with only mortgage-backed securities as collateral, so stood to lose out if they failed, it said. “It was against the financial interest of Goldman Sachs to cause the failure of the fund and it did not do so,” the letter from 1 November said. 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 KCS-content center_img Share Goldman Sachs hits back at accusations over Bear Stearns 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 TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsapp Tags: NULLlast_img read more


first_img Show Comments ▼ KCS-content whatsapp 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 Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Thursday 13 January 2011 7:54 pm Wave of age discrimination cases looms after default retirement age is scrapped by Davey center_img whatsapp Tags: NULL EMPLOYMENT minister Ed Davey faced a barrage of criticism from business groups yesterday, as he announced that bosses will no longer be able to force staff to retire at 65.Employers face a “seismic shift” in the law that could see unfair dismissal claims “go through the roof,” according to a leading City law firm.The Confederation of British Industry (CBI) complained of the “timescale” of the measures, arguing that reforms to unfair dismissal law should have been made alongside changes to retirement age rules.“There is not enough time for businesses to put in place new procedures,” said the CBI’s John Cridland. “The outcome will be more unpleasant and costly legal action.”The maximum compensation for unfair dismissal is £68,400 (from 1 February), yet claims for discrimination have no ceiling. An age discrimination claim can, like some sex discrimination cases, total millions of pounds.“Firms can implement their own standard age of retirement, which they might have to justify in a court. Otherwise they can deal with each employee individually although this could involve very high HR costs, especially for small companies,” said Adrian Crawford of Kingsley Napley.Adding to the uncertainty, age discrimination law was only introduced in 2006, so there are relatively few legal precedents, Crawford said. The default retirement age will begin to be phased out between April and October of this year. If an employer has given notice of retirement before 6 April 2011 and the intended date of retirement is before 1 October 2011, the statutory retirement procedures will continue to apply. Share 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 Wraplast_img read more