first_img JOHN Menzies yesterday upgraded its profit forecasts after its aviation business flourished despite the Icelandic volcanic ash cloud.Menzies Aviation more than doubled operating profits in the first half as cargo volumes returned following the end of the global recession.On the ground-handling side Menzies won 44 contracts, including a £70m five-year deal with Lufthansa/bmi covering more than 90 flights at Heathrow, which starts in October. Underlying group profits rose 46 per cent to £19.3m on revenues 12 per cent higher. In its news distribution – which is the more traditional side of the company – Menzies said it was continuing to gain from the exit from the industry of one of its major rivals Dawson last year. However, newspapers sales fell. It received a one-off boost from the distribution of World Cup stickers. whatsapp KCS-content More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Thursday 19 August 2010 8:39 pm Share John Menzies on the up as aviation arm thrives whatsapp Show Comments ▼ Tags: NULLlast_img read more


first_img 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 whatsapp Show Comments ▼ Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndo whatsapp center_img LONDON-based fixed income firm BlueBay Asset Management said pre-tax profit almost tripled in the last year, boosted by higher performance and management fees after a rebound in financial markets.Net income rose to £49.7m in the year to 30 June, up 186 per cent from £17.5m the year before.Performance fees increased 54 per cent to £28.4m and management fees gained 32 per cent to £109m.BlueBay said it had “good inflows and investment performance”. Its core investment grade debt products continued to account for the majority of the inflows with $8.6bn (£5.5bn) for the year. But as the year progressed and the new credit cycle became more established, it saw stronger inflows into other strategies with higher risk-return profiles, most notably emerging market debt with net inflows of about $1.9bn.Meanwhile, the first two months of the new fiscal year started so well that by the end of August assets under management were about $37.4bn, up more than $3bn from the end of June.BlueBay’s performance was “marked by robust asset growth and a significant improvement in both operating margins and profitability,” chief executive Hugh Willis said in a statement.He added the first six months of 2011 would see several new product launches. BlueBay plans to develop a European government bond business aimed at taking advantage of the recent deterioration in sovereign debt in European, which should favour a credit specialist.“Good credit risk management skills are becoming an increasingly important complement to good interest rate risk management skills,” added Willis. A global high yield bond fund is also planned for late 2010. BlueBay sees annual profits nearly treble KCS-content Thursday 16 September 2010 8:43 pm Tags: NULLlast_img read more


first_img Share 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 EU hedgie talks fail to strike accord Thursday 14 October 2010 9:35 pm whatsapp Tags: NULLcenter_img KCS-content whatsapp Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo Crucial talks to try to break a deadlock between France and the UK over new hedge find rules have ended in acrimony.France refused to accept a raft of compromise proposals put on the table by Belgium, which is currently the EU president. Its stubborn approach to thrashing out the new rules is said to have made enemies of several of its natural allies, most importantly Germany.Central to the row is whether or not to grant a licence to foreign funds that want to work across the EU’s 27 countries. French economy chief Christine Lagarde had opposed this on the grounds that controls on foreign firms would be lax. George Osborne, however, is in favour of the proposals.The spat tees up a fiery meeting between finance ministers next week.Lagarde and Osborne are expected to engage in last-ditch talks over the weekend to try to thrash out an agreement on the shape of controls for hedge funds and private equity before the crunch finance meeting.Continued discord could trigger a laborious mediation with the European Parliament, delaying the introduction of the symbolically important law, as well as antagonise Washington, which believes planned French curbs are protectionist. last_img read more


first_img Tags: NULL LLOYDS Banking Group is set to hold a “beauty parade” for headhunters in the next couple of weeks, as preparations get underway to appoint a successor to chief executive Eric Daniels.Lloyds – which is expected to confirm to the market that it remains on track to deliver a profit for the full year at its third-quarter results tomorrow – asked executive search firm JCA Group to draw up a shortlist as a “contingency plan” earlier this year, before Daniels resigned. But no candidate was found, despite attempts by Lloyds chairman Sir Win Bischoff to woo ex-trade minister Lord Davies for the role.Daniels said in September that he would retire in a year’s time, to give Lloyds time to find a successor.Several of the contenders mooted a month ago have since taken other jobs. Naguib Kheraj, the ex-boss of JP Morgan Cazenove, has joined Lazard, while HSBC finance director Douglas Flint and investment banking head Stuart Gulliver will become the bank’s new chairman and chief executive.Lloyds is set to report third-quarter earnings tomorrow. As a rule, the bank does not include figures in its quarterly updates, though analysts are watching for news of the trends in impairment levels, which are expected to continue their decline; the bank’s progress on raising new funds to wean itself off state support; and the rate at which it is shrinking its balance sheet by selling non-core assets. Sunday 31 October 2010 11:28 pm KCS-content Share whatsappcenter_img whatsapp 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.orgMark Eaton, former NBA All-Star, dead at 64nypost.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.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Show Comments ▼ Lloyds to vet headhunters by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeRecetas Get5 Common Cancer Signs to Pay Attention ToRecetas Getzenfir8 Foods to Avoid with Arthritis to Reduce PainzenfirRich HousesPrince Harry Confirms Unfortunate NewsRich HousesManuka FeedHow to Make Remedy From Salt and Olive Oil to Say Goodbye to Joint PainManuka FeedStudent SeaHe Left Wife For The Sister, Then She Wins LotteryStudent SeaStyleBistroHer Dress Caused A Stir On TwitterStyleBistroMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailYahoo! SearchSearch For Best Bahamas All Inclusive Resorts OfferYahoo! SearchVitaminewsDavid Bowie’s Daughter Is Probably The Prettiest Woman Ever ExistedVitaminewslast_img read more


first_img The American publisher of The National Enquirer and Men’s Fitness said yesterday it plans to file for bankruptcy protection within the next two weeks. American Media said it will continue to operate as normal during an expected two months under Chapter 11 protection while it restructures. The company undertook a debt for equity swap last year to cut its debt to $850m (£530m). by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity 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 FollowAlphaCuteReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Centerthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comBeach RaiderSee The Woman Bradley Walsh Is Dating At 61Beach Raider KCS-content Share Monday 1 November 2010 9:03 pm 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrapcenter_img Tags: NULL Show Comments ▼ US publisher faces bankruptcy whatsapp whatsapplast_img read more


first_img whatsapp 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 FollowAlphaCuteMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorythedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solution Show Comments ▼ KCS-content Share FEARS of a double-dip recession appear to have dissipated, as UK finance leaders say their greatest concern now is how to manage their balance sheets, according to a survey published yesterday.Specialist recruitment firm Robert Half said the survey of over 200 chief finance officers (CFO) found more than 44 per cent were worried about managing their balance sheets while the same number cited cash flow as a major concern.Over half of CFO’s (53 per cent) said raising capital was one of their top priorities compared to a third last year. Meanwhile, 26 per cent said they were looking for new investment opportunities compared to just 11 per cent last year. Only one per cent were concerned about the threat of a double-dip recession. Instead 34 per cent said they were now more concerned about managing growth compared to a paltry nine per cent last year, suggesting greater confidence in the economy.Phil Sheridan, managing director of Robert Half said: “Finance leaders are placing more emphasis on maintaining strong accounting practices and cash flow to capitalise on emerging opportunities, particularly in the SME and private sectors.” center_img Wednesday 10 November 2010 7:27 pm Finance chiefs not concerned by double dip whatsapp More From Our Partners LA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comColin Kaepernick to publish book on abolishing the policethegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKansas coach fired for using N-word toward Black playerthegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Tags: NULLlast_img read more


first_img 500,000 households in negative equity Share Show Comments ▼ Tags: NULL CLOSE to half a million British households could be facing negative equity, according to survey released today by the Bank of England.Between four and five per cent of mortgage holders owe more than the value of their properties, it was revealed in the Bank’s final quarterly bulletin of this year. There are 11.4m mortgages in the UK, according to the Council of Mortgage Lenders.The figures remain considerably worse than prior to the recession. Approximately four times as many households face negative equity as in 2007.And more people could fall into negative equity if house prices drop further. Close to one in five mortgage holders have debts exceeding 75 per cent of the value of their properties, “not much changed” from last year, the report says.House prices will fall by 2.7 per cent in the coming financial year, the Office for Budget Responsibility (OBR) forecast last month. Previously it had expected a rise of 2.3 per cent.This month asking prices fell by three per cent, Rightmove revealed today. And asking prices could fall by five per cent next year, the property website estimates.The number of first time buyers “remains relatively low,” the Bank said. Despite low house prices and low mortgage rates, modest wage growth and tight credit conditions continue to deter buyers from the market.High deposit requirements are resulting in prospective first time buyers saving for the future, even thought interest rates remain low. “Around a quarter of renters who reported they were increasing saving, were doing so to finance a deposit,” the report said.However, the situation is positive in comparison to the US housing market, where roughly 11m households face negative equity. whatsapp KCS-content whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The 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 Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap Sunday 12 December 2010 11:28 pmlast_img read more


first_img GEORGE BUCKLEY | DEUTSCHE BANK“As in past recessions, flat periods could follow bouts of growth. Yet I expect economic data will break out on the upside over the coming months, and interest rates will slowly increase from mid 2011.”HOWARD ARCHER | IHS GLOBAL INSIGHT“I expect GDP will grow by 0.3 per cent in the first two quarters, then pick up as the global economy regains upward momentum in the second half of the year, coming in at 1.8 per cent for 2011.”ANDREW GOODWIN | ERNST AND YOUNG ITEM CLUB“I’m pretty confident that 2011 and 2012 will see growth at a decent pace, helped by strong exports. I think the inflationary effects are temporary – VAT, sterling depreciation, and commodity prices.” More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com KCS-content whatsapp ECONOMIST VIEWS: HOW DO YOU EXPECT THE ECONOMY TO FARE IN 2011? Share whatsapp Sunday 19 December 2010 10:37 pm Tags: NULL Show Comments ▼last_img read more


first_img MPs: Europe power grab could hurt UK Show Comments ▼ Share KCS-content whatsapp THE “sheer scale and pace” of regulatory change in Europe could damage Britain’s financial services industry, a group of influential MPs will warn today. In a report on financial regulation, the Treasury select committee said it was “concerned” about the “ambitious legislative programme taking place at the European level”. The MPs dismissed claims from Michel Barnier, the EU internal markets commissioner, who said he was simply taking his lead from the G20.Barnier supplied the committee with a list of 39 EU initiatives, but the MPs found that only 14 of the proposals were directly related to the G20 agenda. The MPs also expressed alarm that Britain was under-represented on the EU’s three new “super-regulators”, which will regulate banking, the insurance and pensions industry, and markets.“It is important that the UK, with a particularly large share of the financial services activity of the EU, secures appropriate representation on the EU regulatory bodies,” the MPs said in the report. However, career policymakers from Portugal, Italy and the Netherlands have been appointed to run the bodies. And the Treasury select committee’s report warned that political pressure could lead to “inappropriate regulation that will not only damage the UK, but the EU as a whole.” Meanwhile, the report warned the British government not to rush its plans to scrap the discredited tri-partite system of financial regulation.The government has said it will disband the FSA and hand its macro-prudential regulation powers to a unit of the Bank of England by 2012. “The committee is concerned about the risks involved in such an ambitious timetable and the report underlines the importance of getting reform right,” the MPs said. 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 whatsapp Tags: NULL Wednesday 2 February 2011 8:23 pmlast_img read more


first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionBetterBe20 Stunning Female AthletesBetterBeBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition IFS: Osborne must stick to austerity cuts THE coalition must protect confidence in the UK by delivering a reduction in the deficit, the respected Institute for Fiscal Studies (IFS) said yesterday.Loosening fiscal policy “risks undermining investor confidence,” the thinktank warned in its green budget.“Having set out his fiscal consolidation plan, it is important that chancellor Osborne resist the temptation to engage in any significant net giveaway in the budget,” the IFS said.Forecasting that Osborne would beat his deficit target for this financial year by £2.9bn, the IFS said he should “bank” any shortfall in borrowing to guard against shocks to the economy.Slower growth in the economy would see the government still drawing an annual public deficit of 0.4 per cent of GDP in 2015-16, it said. Simon Hayes of Barclays Capital, who contributed to the report, says the recovery will be more sluggish than the government expects.The report expects a deficit of £145.6bn for 2010-11: “The large government deficit and high reliance on debt are sources of vulnerability,” it warns. “Past calm is no guarantee of future stability,” Hayes added, citing a sudden loss of confidence in Spain from May last year. Yet the consolidation plan soothed concerns for the UK.“Financial markets seem to have reacted positively to the plan,” he said. “The interest rate differential between UK and German government bonds has declined since the general election, in contrast to Spain.” Labour pounced on the report’s suggestion that the chancellor may have to adapt cuts to respond to unexpected economic developments. “It’s time the chancellor got himself a plan B,” shadow treasury secretary Angela Eagle said. whatsapp Show Comments ▼ Sharecenter_img whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKansas coach fired for using N-word toward Black playerthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.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.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comConnecticut man dies after crashing Harley into live bearnypost.com Tags: NULL Wednesday 2 February 2011 8:32 pm KCS-content last_img read more