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Ageas global performance hit as UK operations swing into the red

The government is considering changing the Ogden rate – the amount by which insurers discount expected future payouts on personal injury and fatal accident policies.The rate has been at 2.5 per cent since 2001 and given the current lower for longer interest rate environment there have been calls to reduce the rate, a move that could cost insurers hundreds of millions of pounds by increasing the amount that needs to be allocated to cover future losses.Read more: Ageas UK improves combined ratio despite declining profitsIn November, Ageas revealed plans to close its Kwik Fit insurance services operations in Scotland. The move was confirmed last month with 521 jobs set to be lost.Shares in Ageas, which is Belgium’s largest insurer and listed on the Brussels stock exchange, fell nearly five per cent following the results announcement. Read more: RSA shares rise at the open as it disposes of £834m “book of nasties”Exceptional charges in the UK totalled €113m: the previously announced closure of its Glasgow office cost €27m, “exceptional underwriting losses” costing €25m and €55m of losses booked on the anticipation of changes to the Ogden discount rate.Ogden changes UK operations swung from black to red, posting a €56m loss in 2016, compared with a €30m profit 12 months before.“2016 has been an eventful year for Ageas,” said chief executive Bart De Smet. He added: Insurance giant Ageas today revealed profits had tumbled over the last year with losses spiralling in the UK while the firm works through a painful restructuring and prepares for regulatory changes.The net result of the Belgium-headquartered group plummeted to €127m (£108m), down from €770m.  Wednesday 15 February 2017 1:24 pm Ageas global performance hit as UK operations swing into the red whatsapp With the exception of the UK, [Ageas has] achieved very good results. In the UK a number of exceptional events forced the group to take significant one-off charges for restructuring and reserve strengthening partly in anticipation of changing regulations. Share whatsapp Oliver Gill More From Our Partners Porsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comKansas coach fired for using N-word toward Black playerthegrio.comPuffer fish snaps a selfie with lucky divernypost.comColin Kaepernick to publish book on abolishing the policethegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com read more

Economists react: Immigration from eastern Europe falls as net migration dips below 300,000

Thursday 23 February 2017 4:53 pm Former Prime Minister David Cameron promised to reduce net migration to the “tens of thousands”, a promise which current Prime Minister Theresa May has not yet attempted to change.”Crazy” targetsHowever, David Davis, secretary of state for exiting the EU, said this week that Britain would not immediately limit the number of immigrants coming from Europe as the economy needs labour.Jonathan Portes, a professor of economics at King’s College London, predicts a hit to GDP of 0.6 to 1.2 per cent lost growth over five years if EU migration alone is halved.“Having a target is crazy,” he says. “It’s possible you might hit it by accident” but central government control of the labour market is unlikely to work.That was echoed by Kate Andrews from the Institute of Economic Affairs. She says: “The arbitrary target completely discounts the changing economy that we live in.” Businesses are already “finding it more difficult to recruit”, she says, with explanations referencing the fall in the value of the pound, which makes the UK less attractive to immigrants, and a more general “attitudinal issue” after a rancorous referendum debate.Davis’s comments will be “music to these employers’ ears”, Rolfe says – although she notes she is “not so sure” how well they will go down with some elements of the public.The long termThe ONS described the fall in migration from the eastern European countries as “statistically significant”.However, Nicola White, head of international migration statistics at ONS, cautioned it is too early to tell if the decrease is part of a long-term trend.She said: “Although we have seen a fall in net migration of EU8 citizens there have been continued increases in immigration from Romania and Bulgaria, so it is too early to say what effect the referendum result has had on long-term international migration.”Read more: The UK is facing a “workforce crisis” if immigration levels fallThere was also a statistically significant decrease in students from outside the EU moving to the UK to study, the ONS said.Migration to the UK reached record levels in the year up to the EU referendum. A record number of EU migrants boosted total migration to the UK to 650,000, although the migration from countries outside of Europe still accounted for a greater proportion of people arriving in the UK.After the global financial crisis the number of people moving to the UK dipped significantly below the 500,000 mark, but since reaching a trough in 2012 it has risen steadily since then to reach new highs.Read more: UK tech urges May to clarify skilled immigration in hard Brexit Net migration fell below 300,000 (Source: Office for National Statistics) Net migration +322,000 +273,000 -49,000 YE Sept 2015 YE Sept 2016 Difference Economists react: Immigration from eastern Europe falls as net migration dips below 300,000 Immigration 619,000 596,000 -23,000 Jasper Jolly Emigration 297,000 323,000 +26,000 Immigration to the UK from countries in central and eastern Europe fell significantly in the year to September, including the period after the EU referendum, while net migration dipped below 300,000, new figures show.Emigration by nationals from the eight nations which joined the EU in 2004 tripled, according to the Office for National Statistics (ONS), while there was also an increase in people from outside Europe moving out of the UK. whatsapp whatsapp Immigrants on average pay more in taxes than they use the welfare state, according to a study by academics at the London School of Economics (LSE).Government should therefore focus on offering businesses policy consistency, Andrews says: “Rather than focusing on quotas we need to focus on rules.”Politics versus employersThat course of action seems “unlikely”, says LSE economist Philippe Legrain: “As of now, the government’s priority is tighter controls on immigration, for political reasons.”He added: “But tighter restrictions will have an economic cost, both directly – because migrants make the economy more dynamic, bring valuable skills and do jobs that not enough locals want to do – and indirectly, because controls on EU migration entail leaving the EU single market, which will further disrupt trade.”The option floated by David Davis of retaining migration for “years and years” after Brexit reflects the view of employers, particularly in the food production and hospitality sectors, says Heather Rolfe, associate research director at the National Institute of Economic and Social Research (Niesr). The number of people moving to the UK fell from record highs to 596,000 in the year to September, although this was not statistically significant change, the ONS said. Net migration fell as well, to 273,000, still well above the government’s target of 100,000.Read more: Scrap the utopian net migration target for the realistic system we all wantMigration from the eight countries in central and eastern Europe which joined the EU in 2004 – labelled the “EU8” by the ONS – is politically contentious, with limiting immigration cited as the second most common reason for people to vote to leave the EU in one study. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBIBAThings Are Different For William And Kate – Here’s What HappenedBIBAYahoo! SearchSearch For Master Of Social Work. Empower People And CommunitiesYahoo! 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House of Fraser owner Sanpower pulls investment in digital challenger bank Tandem

Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealth.recetasgetHeart Attack Early Warning Signs and SymptomsHealth.recetasgetUndoFoundation Leak Fix | Search AdsFoundation Repair Cost May Be More Affordable Than Ever In 2021, Check OptionsFoundation Leak Fix | Search AdsUndoweniix.comLook The Future of Carsweniix.comUndoAnswer MindTrying to Lose Weight? Eat These 5 ThingsAnswer MindUndoHappy-Tricks.comThis toddler cooks and drives better than most adultsHappy-Tricks.comUndoAuto carLook: Top 5 best small SUVs 2021 | AutocarAuto carUndoNew Age NewsKirsten Vangsness After Her Weight LossNew Age NewsUndoDidUKnowDental Implants Are Almost Being Given AwayDidUKnowUndoItsTheVibeCostco Items You Wouldn’t Find In Shelves AnymoreItsTheVibeUndo Sanpower, the Chinese conglomerate which owns House of Fraser, has been forced to pull back on a multimillion pound investment in digital challenger bank Tandem, City A.M. can reveal.A £29m tranche of cash due to bolster the startup’s capital requirements for launching as a full bank has been halted over concerns that Chinese authorities are restricting outbound investment. Monday 20 March 2017 10:56 am Funding for the startup stands at £39m to date from top names such as Omidyar Network, eBay founder Pierre Omidyar’s venture capital firm, and Route 66 Ventures. It also raised £1m via crowdfunding.Tandem, which recently announced the retirement of its chief executive Peter Herbert, is expected to launch in the coming months and will close to co-founders on 12 May in preparation. Co-founders, which now number around 10,000, are early users who are part of beta testing and contribute to its development. They will also get early access to the app, as well as new features and products.It’s understood news of Sanpower’s pull back came late on Thursday evening with an investor meeting taking place late on Sunday and staff told this morning that the startup is now examining the structure of the business. Lynsey Barber whatsapp House of Fraser owner Sanpower pulls investment in digital challenger bank Tandem Share whatsapp More From Our Partners Russell 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.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.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.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comWhy people are finding dryer sheets in their mailboxesnypost.comConnecticut man dies after crashing Harley into live bearnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPuffer fish snaps a selfie with lucky divernypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Founder and incoming chief executive Ricky Knox told City A.M. the startup will continue with its plans for launching the Tandem app with other features, but expressed disappointment that hopes of launching as a full bank had been dashed.The app will launch without a planned savings product which requires the capital to hold deposits. But, Knox said, there would be no other impact on what customers are getting from the app. Any early users testing the savings product will have their deposits returned.The bank will now miss a deadline for fulfilling some of the requirements of its banking license, authorised by the Prudential Regulation Authority, but Knox said the startup will reapply in due course and expects the process to be expedited when it does. Tandem’s activities will still be regulated under the Financial Conduct Authority at launch.The startup will fall back on existing investors for some of the cash but is open to looking for new investors to make up the shortfall from the nixed deal. It’s understood a fresh deal with Sanpower in future has not been ruled out and a partnership with House of Fraser that will offer Tandem services to shoppers will continue.House of Fraser remains a minority shareholder after putting £6m into the startup at the end of last year. read more

Sterling finds strength from higher UK manufacturing growth

first_img The pound was up 0.1 per cent against the US dollar at 1.304 and close to 0.4 per cent compared to the euro at 1.125.Read more: British manufacturing output growth weakens as exports slowManufacturing posted a “mild” improvement in output at the end of the third quarter, according to the closely-followed IHS Markit/CIPS Purchasing Managers’ Index (PMI) figures, released today.The sector posted 53.8 for September, up from 53.0 in August, marking its 26th consecutive month above the neutral 50 mark.Companies credited the rate of growth – which hit a four-month high – to a solid increase in new orders from domestic and export markets, a refresh of inventories and a renewed focus on clearing backlogs of work, which fell for the ninth month in a row. Read more: Business leaders lose confidence in government striking good Brexit deal“Headcounts fell at larger companies for a second successive month. On the price front, both output charges and input costs rose at faster rates in September, which may exert further upward pressure on consumer prices in future.”Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said the latest figures reflected European uncertainty over supply chains depending on what kind of Brexit deal the UK secures.”Uncertainty about the UK’s future relationship with the EU also likely has contributed to a slowdown in demand,” he said. “French manufacturers, for instance, are more likely to switch to sourcing components from other EU countries, given the risk that supply chains across the Channel could break down after Brexit. It’s hard to see growth in manufacturing output recovering until the risk of a no-deal Brexit has been extinguished.” Joe Curtis Sterling finds strength from higher UK manufacturing growth Sterling climbed on the back of stronger UK manufacturing growth this morning. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com whatsapp Demand for UK exports felt a small recovery after contracting in August, with manufacturers experiencing more demand from the US, Europe, Russia, Scandinavia and Canada.It meant manufacturing firms also hired more staff, with jobs growth at small and medium companies offsetting cuts at larger scale businesses.However, Rob Dobson, director at IHS Markit, said that higher business confidence only signalled cause for “short-term optimism”, with the sector facing many challenges.”Conditions in manufacturing are still relatively lacklustre overall,” he said, warning that output is growing “at only a moderate pace”. He warned that while total exports grew, foreign companies appear to be sourcing fewer components from the UK.“Many UK manufacturers also noted that the backdrop of Brexit and a volatile exchange rate were making any forecasting activity increasingly difficult, with uncertainty adding to reluctance to hire,” he added. Monday 1 October 2018 10:07 am whatsapp Share Tags: Brexitlast_img read more

What to expect from chancellor Philip Hammond’s Budget

first_img whatsapp Share Hammond is expected to announce almost £30bn for new road projects and repairs which will be partially funded by revenues from vehicle excise duty. He is also set to give £420m to councils to fix potholes.BroadbandThe chancellor is also expected to announce further funding for the UK’s communications infrastructure with predictions he will splash £250m to bring super fast broadband to remote areas of the UK.High StreetThe treasury is briefing a £1.5bn boost for smaller retailers with business rates slashed by a third. The pledge is expected to include £900m of immediate tax relief, a relaxation of planning laws and £650m to upgrade transport and infrastructure and redevelop empty shops as offices or houses.Tech giant taxThere is also speculation that Hammond will target tech giant’s which have been criticised for not paying enough tax in the UK. In his speech to the Conservative Party conference earlier this month Hammond threatened to unilaterally impose a UK digital services tax if an international agreement on taxing tech firms could not be reached.DefenceFormer defence secretary Hammond is expected to provide more money for the Ministry of Defence amid Tory anger at underfunding for defence and warnings of a massive budget blackhole. Reports suggest the chancellor could find £500m-£1bn to help plug the gap.Income tax cuts by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyBridesBlushWhat The Harry Potter Stars Look Like Out Of CostumeBridesBlushAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic Mirrorzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatter What to expect from chancellor Philip Hammond’s Budget James Booth Sunday 28 October 2018 7:27 pmcenter_img Ahead of tomorrow’s Autumn Budget City A.M. looks at the areas that chancellor Philip Hammond is likely to focus on in his last chance to tweak the UK’s fiscal regime before the Brexit deadline in MarchRoads In the 2017 election manifesto the Conservative’s pledged to increase the personal tax allowance to £12,500 and the higher threshold to £50,000 in 2020-2021, however there is speculation that the chancellor could make the cut this year after the UK’s finances looked healthier than expected.Pay day loan schemeTreasury leaks suggest a new payday loans scheme will be announced which will provide credit to people on low incomes to keep them out of the clutches of high-interest lenders or loan sharks.Mental heath fundingThe treasury has also trailed an increase in mental health spending of at least £2bn a year in real terms by 2023-24 which will create new services including mental health support in every major accident and emergency department.Green spacesThe chancellor is expected to pledge £60m in fresh cash to plant trees in both urban areas and countryside. whatsapp Tags: People Philip Hammond Taxlast_img read more

Cyclists are swapping their helmets for Hovding airbags – would you do the same?

first_imgOf course, much of the convincing happens when we see others in the street wearing Hovding collars. It’s the normalisation of this look which has really helped the company gather momentum since the product came to market in 2011.And it’s not just helmet-wearers who are being converted to Hovdings.Despite helmets being an obvious safety precaution, there is reluctance among some cyclists to wear them. Carling says the arguments are always the same: “It’s vanity and a sense that you lose some freedom by having headgear clogged on your head, or having to carry around a clumsy helmet.” “People often regard Sweden as a responsible and caring country, and I think that is the way we look at our business as well – it certainly influences the way we develop a product.”The Hovding boss also reckons that Sweden can be seen as a bit of an underdog in the global world of business – though it’s difficult to see why when disruptive giants like Ikea, Spotify, and Skype all root back to this country.“Even in Sweden alone, our business could be seen as an underdog, because we are based in the country’s third largest city.”And yet Malmo, where Hovding is headquartered, was recently ranked by the OECD as the fourth most inventive city in the world. As we know, the underdog can often take us by surprise.“We are no longer this niche thing, we are part of the game,” says Carling. “Maybe that comes from the Swedish thing of clenching your fists and motoring on to make things happen.”Head-startIt’s not just road safety where Sweden is making its mark – the country is also Europe’s biggest innovator when it comes to developing clean energy technologies (it came first place in the EU Eco-Innovation Index 2017).Getting people to make healthier choices – both for themselves and for the planet – usually starts with broadening the number of options available. And this is where Hovding comes in; simply by removing the relative inconvenience of a helmet, it encourages more people to cycle, which in turn cuts pollution levels in big cities like London.“If you look at a very macro level – the world is becoming increasingly urbanised, cities are becoming more congested, and people are also becoming more conscious about how they spend their money,” says Carling.But cyclists are ticking all of the boxes: contributing to a cleaner planet, while improving their own personal health and wealth in the process. “Those are values that really unite a lot of cyclists,” he adds. “Saving lives is a mission for us, but we want to simultaneously encourage more cycling. We are driven by both.” by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailJustPerfact USAMan Decides to File for Divorce After Taking a Closer Look at This Photo!   JustPerfact USAOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutBridesBlushWhat The Harry Potter Stars Look Like Out Of CostumeBridesBlushDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic Mirrorzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.com It’s because of a new invention: an airbag for cyclists. Created in Sweden in 2005 by Anna Haupt and Terese Alstin, Hovding is the world’s first airbag bicycle helmet.Instead of sitting on top of your head, the Hovding is worn as a collar, and – when a sophisticated algorithm detects an accident – the airbag inflates into a hood around your head in a fraction of a second. Your hair doesn’t get dishevelled and you no longer need to lug around a bulky helmet (the Hovding is made of soft material, so it can squeeze inside a bag).But here’s the real game-changer: Hovding collars have been found to offer eight times more protection than a conventional helmet, almost completely eliminating the risk of fracturing your skull, according to research from Stanford University.Raising the (handle)bar“The traditional helmet industry has not changed for years – a cycle helmet from the 70s looks pretty much the same as now,” says Hovding chief executive Fredrik Carling.Carling might be a Swede, but his English rolls off the tongue. He’s also armed with facts and figures – he tells me that Hovding collars are now being sold in 16 different countries in Europe (plus Japan), with over 1,100 retailers stocking the product. Pedal to the medalWhen Carling joined Hovding in 2012, it was purely a team of engineers and designers, and – at the time – the business had been “born but not raised”, he says.As any entrepreneur will know, it’s the commercial execution which can make or break a great idea. So this commercially-minded chief exec – who spent the best part of a decade as managing director for the likes of Levi and Diesel – has largely focused on steering the business in the right direction. And in 2015, the firm listed on the Nasdaq First North index in Stockholm.He admits that he’s also picked up a lot from his team. “I now understand the basics of algorithms and airbag technology. You learn a lot, and bring in people who are in some ways better than you.” Sweden has a reputation for being one of the most sensible nations in the world. It might not sound glamorous, but Carling tells me that Sweden has a strong tradition of entrepreneurship within traffic safety – pointing to Volvo, which invented the three-point seatbelt in the 50s and is also the country’s largest manufacturer of airbags in cars. Cyclists are swapping their helmets for Hovding airbags – would you do the same? whatsapp whatsapp Katherine Denham center_img Share I believe that in 20 years the entire helmet industry will be based on airbag technology Monday 29 October 2018 6:15 am The concept of a cycling collar rather than an old-fashioned helmet changes the equation. The figures speak for themselves: a poll of 1,000 Hovding users found that a staggering 47 per cent had never worn any type of helmet before. So even with the Hovding’s £219 price tag, the company is managing to convert the helmet naysayers by encouraging people to protect their heads.Sensible Swede Some people have written letters thanking us for saving their lives Carling is hugely ambitious for the future of the company. “We’ve only scratched the surface. Now we are seeing some big numbers, but that’s only really a token of the potential.”That potential goes beyond the parameters of cycling. He envisages the technology being used in other situations where people need head protection.“I believe that in 20 years the entire helmet industry will be based on airbag technology. From Romans and Vikings to today’s construction workers – we have to remember that for over 2,000 years, we have always protected our heads by wearing helmets. We need to change that mindset.” Imagine a London where no one wears a cycle helmet – and not because vanity has hit the roof, or because the roads have been made so safe that helmets are redundant (though that would also be nice). Given that lives are literally at stake, one of the challenges, of course, is getting people to trust that the airbag will work when they need it to.When I ask Carling about this, he says more than 110,000 cyclists use Hovding, and of the 2,600 accidents registered since 2011, the airbag has activated and done its job every time.“Hovding is no longer just a concept – it’s a product that’s been proven to work. Some people have written letters thanking us for saving their lives, and those are proof statements if you like. A couple of years ago we didn’t have that volume of data.” Tags: Trading Archivelast_img read more

City faces a Brexit ‘nightmare’ unless a deal is done by Christmas, says new lord mayor

first_img The new lord mayor of London has said banks and insurers will face an “administrative nightmare” unless a Brexit deal is secured by Christmas.Former Barclays executive Peter Estlin told the Sunday Times that there was a “huge amount” of anxiety in the City despite recent suggestions that the Prime Minister was closing in on a deal. whatsapp Alexandra Rogers Earlier this month City minister John Glen said he was “extremely confident” the two sides would reach an “imminent deal” for the financial services sector, but his comments were downplayed by Treasury sources who said a deal was still being worked out.Estlin said: “It’s not done until the fat lady sings. If we don’t have real clarity by Christmas we have to work to protect consumers and households, particularly on this side of the Channel but also in Europe.”Figures released by the European Commission earlier this week predicted UK growth could drop to just 1.2 per cent next year, making it the slowest-growing EU member alongside Italy.The commission’s forecasts for 1.2 per cent GDP growth in the UK over the next two years differ from the Office for Budget Responsibility’s prediction of 1.6 per cent growth next year and 1.4 per cent growth in 2020. City faces a Brexit ‘nightmare’ unless a deal is done by Christmas, says new lord mayor More From Our Partners Biden 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.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Sunday 11 November 2018 12:45 pm whatsapp Share Tags: Brexitlast_img read more

Airbus could restart UK investment if parliament approves May’s Brexit deal

first_imgWednesday 28 November 2018 1:28 pm Aerospace firms may resume investment in the UK’s industry currently put on hold if Prime Minister Theresa May’s withdrawal agreement is voted through parliament, Airbus told MPs this morning.Companies have either paused investment in the UK since the EU referendum or transferred it to other markets, executives told the Commons’ Business, Energy and Industrial Strategy (BEIS) Committee. Alex Daniel Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyUndoinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstUndo Airbus could restart UK investment if parliament approves May’s Brexit deal whatsapp “Those who have options have chosen to either hold and wait and see what happens or in some cases decided to put that investment into other markets or into capability in other territories,” he said.Everitt added that in an ideal world aerospace companies would like the two-year transition period to be longer.“We would always prefer to know what the new conditions are and then have a two-year plus period to adapt to them… But that’s a political issue over which we have little or no control,” he said.Jim Ratcliffe, the UK’s richest man and owner of chemicals giant Ineos, today also backed the government’s proposed Brexit withdrawal agreement, urging MPs to “put the good of the country ahead of political considerations” and vote it through. center_img Katherine Bennett, senior vice president of Airbus UK, said the company had not made any “significant” investments in the last year because of uncertainty surrounding a no-deal Brexit.She said the company had “great capability”, but “because of the uncertainty, which we want to see reversed, that is why investments have been put on hold”.But the deal was a “step forward”, she said. “If the withdrawal agreement is successful in some form or another then Airbus would consider continuing to invest as the company has done over many years.”The Prime Minister is currently fighting to win support for the deal among MPs ahead of a commons vote on 11 December, as more than 80 MPs from her own party have publicly vowed to vote it down, as well as the Democratic Unionist Party, which props up her minority Conservative government.Paul Everitt, chief executive of the aerospace industry body ADS Group, told the committee that while those that had committed to invest before the referendum had “continued with those investments”, others had put their money into other countries’ industries instead. Tags: Brexit Share whatsapplast_img read more

Police arrest man over alleged MP abuse incidents outside parliament

first_img Tags: BBC Facebook PayPal Police arrest man over alleged MP abuse incidents outside parliament Saturday 12 January 2019 3:07 pm whatsapp A man in his 30s has been arrested on suspicion of public order offences after an MP was subjected to alleged verbal abuse outside parliament last week.The Metropolitan Police said the man was detained outside St James’s Park tube station in central London shortly before midday in connection with incidents in Westminster on Monday. James Goddard was reportedly among protesters who chanted at Soubry during live interviews on College Green.Facebook and PayPal removed Goddard’s online accounts shortly after the incident.center_img Sky News named the man as James Goddard, a prominent member of the so-called yellow vest group that has led protests outside parliament in recent days.A spokesperson for the Met Police declined to comment on the identity of the man arrested.Supporters of Goddard said he was about to hand himself in at Holborn police station, BBC journalist Daniel Sandford reported.Police launched an investigation after Conservative MP Anna Soubry was subjected to ‘Nazi’ taunts during a live TV interview in Westminster.The probe came after a group of more than 50 MPs wrote to Met Police commissioner Cressida Dick expressing “serious concerns” about the “deteriorating public order and security situation” outside parliament. Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldFinance Wealth PostTom Selleck’s Daughter Is Probably The Prettiest Woman To Ever ExistFinance Wealth PostMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal Pastmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableybonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.com James Warrington last_img read more

Interserve wins over major shareholder as rescue deal vote looms

first_imgThursday 7 March 2019 4:26 pm Interserve wins over major shareholder as rescue deal vote looms Read more: Interserve board rebuffs rebel shareholder’s demands for new rescue planThe deal needs to win 50 per cent of shareholder approval at a vote on 15 March to go ahead, otherwise Interserve will go into a pre pack administration, but 27 per cent shareholder Coltrane has opposed it.Workers at the NHS and the Foreign Office are among Interserve’s 39,000 UK employees, and 70 per cent of its annual £2.9bn turnover comes from the government. The delivery of hundreds of public services across the country would come under threat if the firm went under.But the company has racked up more than £630m worth of debt in recent years, and is scrambling to push through a financing package, known as the deleveraging plan, with lenders RBS, HSBC and BNP Paribas to save it.Coltrane has been railing against Interserve’s proposals since early February because they dilute shareholder value to just five per cent, handing the rest to the lenders. ASI’s support comes hours after two big hitting proxy advisors said they also supported Interserve’s deal, marking a major victory for the outsourcer. Pensions and Investment Research Consultants (PIRC) followed another advisor, Institutional Shareholder Services (ISS), in throwing its weight behind the debt-laden outsourcer’s deal, City A.M. revealed earlier on Thursday.Advisors at PIRC, the biggest independent shareholder advisory firm in Europe, said of Interserve’s plan: “In light of the given necessity of this proposal, a vote in favour is recommended.”The report also addressed Coltrane’s concerns that the board’s management of the issue had been “reckless” and shown “negligence at best”.“There is sufficient balance of independent representation on the board which provides assurance that the proposal is undertaken with appropriate independent judgement and oversight,” PIRC’s report said. whatsapp Interserve is one of the country’s largest providers of facilities management services (Source: Interserve)A week before, the fund threatened to sue Interserve’s board over the matter (27 February), eviscerating the outsourcer’s plan as a “terrible” deal, before issuing a fresh set of demands this week which involved instead giving investors 35 per cent control.Interserve quickly rebuffed the plan (5 March), saying it could not consent to Coltrane’s request “without risking the future of Interserve together with its employees, pensioners, customers and suppliers”.Andrew Hunt, investment director at ASI a top-five shareholder, said: “We recognise the financial challenges facing the company and believes that the deleveraging plan is in the best interests of Interserve and all its stakeholders, including shareholders, as a whole.”We believe that the plan should be voted through and that Interserve remain a listed business.”Winning the proxy war A major shareholder has thrown its weight behind Interserve’s board in the their ongoing struggle for control of the outsourcer against US hedge fund Coltrane Asset Management, City A.M. can reveal.Aberdeen Standard Investments (ASI), which controls 4.6 per cent of Interserve’s shares, on Thursday endorsed the firm’s rescue deal designed to to stop it going into administration. 39,000 of Interserve’s 68,000 global employees are in the UK (Source: Interserve)The news came after it emerged proxy adviser ISS, the biggest in the US, had also told shareholders Interserve’s plan was the best option, driving the firm’s stock down eight per cent on Thursday afternoon.First reported by the Financial Times, ISS said although the deal was “not without concern for the shareholders,” it should be supported because it would “avoid potential insolvency”.It also said the fact shareholders had the option to claw back more value on top of the five per cent initially handed to them would lessen the “dilutive effect to participating shareholders”.Running down the clockThe news gives Interserve’s chief executive Debbie White just over a week to ensure more than half the firm’s shareholders back her plan rather than siding with Coltrane.But doubts remain over whether she will succeed, as more than one-third of shareholders have indicated they will vote down the deal. Coltrane last month enlisted the support of six per cent shareholder Farringdon Capital Management, a Dutch hedge fund, in its struggle for control over the outsourcer.Chairman Glynn Barker said this is a “critical time” for Interserve. The company’s proposed rescue deal is “the only plan today that provides a certain future for Interserve, preserving some value for shareholders while securing jobs, pensions, and continuity of services,” he said.“In the absence of any other plan that is capable of implementation, further uncertainty continues to risk an outcome in which there is no return to shareholders, including Coltrane, and considerable disruption to the business.”Both Interserve and Coltrane declined to provide formal comment on Thursday afternoon. Share whatsapp Alex Daniel Tags: Company Interservelast_img read more