Shares in Petra Diamonds fail to sparkle despite record production

first_img whatsapp Shares in Petra Diamonds fail to sparkle despite record production Caitlin Morrison Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap Monday 27 October 2014 8:54 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksRelated ArticlesTop 10 Date Night In Movies & Films Of All Time10 Amazing RVs You Won’t Want To Miss8 Surprisingly Simple Ways to Keep Your Liver Healthycenter_img whatsapp Share MINING firm Petra Diamonds has reported its highest quarterly production since the company launched in 1997, at 833,744 carats for the first quarter of 2014-15, up two per cent from the 816,735 carats recorded at the same time last year. Revenue also grew to $100.8m (£62.5m), up 55 per cent on $65.1m in 2013-14, despite total sales falling by 10 per cent to 532,250 carats. Shares fell 2.9 per cent yesterday, closing at 170.1p.The company said the diamond market is currently exhibiting its “customary post summer softness”, which is typically the quietest time for rough diamond sales. However, it expects the market to firm up once the festive sales period starts near the end of November. Petra announced the sale of a 232 carat white diamond for $15.2m last week. The company also runs the Williamson mine, which produced the Williamson Pink. That stone was given to the then Princess Elizabeth as a birthday present in 1947. Tags: Company Petra Diamonds Ltdlast_img read more

Deloitte loses RBS audit job

first_img whatsapp Share Chris PapadopoullosChris Papadopoullos was City A.M.’s economics reporter until February 2016. He is an economist at OMFIF. THE ROYAL Bank of Scotland (RBS) announced yesterday it would look to appoint Ernst and Young (EY) as auditor from 2016, potentially breaking its 14 year relationship with current auditors Deloitte.Deloitte, who have been the firms auditor since 2000 will continue in the role and undertake audit for the rest of 2014 as well as 2015. The appointment of EY will be recommended to shareholders for approval at the 2016 annual general meeting. Deloitte loses RBS audit job Show Comments ▼ Monday 3 November 2014 8:59 pm whatsapp Read This NextA New ‘Avatar’ Video Game Was Announced and People Have Mean JokesThe WrapThe Case to Renew NBC’s Still-on-the-Bubble ‘Manifest’ – and the Case forThe WrapPandemic Theme Park Layoffs Make Way for Hiring FrenzyThe Wrap’Pose’ Co-Creator Steven Canals Says Show’s Legacy Is ‘Not Just a Moment,’The WrapZendaya Voices Lola Bunny in New ‘Space Jam: A New Legacy’ Teaser (Video)The WrapMayweather-Paul Fight Viewers Report Showtime Streaming OutagesThe WrapFacebook Defends Trump Suspension: Violence, Not Lies, Is ‘Red Line’The Wrap’Conjuring 3’ Tops ‘Quiet Place II’ at Box Office With $24 Million OpeningThe WrapTexas Bakery’s Pride Cookies Sparked Backlash, Now Customers Are Lined UpThe Wrap Tags: NULLlast_img read more

Autumn Statement 2014: What free marketeers want from George Osborne and what they’re likely to get

first_img Tags: Autumn Statement 2015 George Osborne People Guy Bentley Autumn Statement 2014: What free marketeers want from George Osborne and what they’re likely to get Share Monday 24 November 2014 10:21 am More From Our Partners Man on bail for murder arrested after pet tiger escapes Houston homethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.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.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.orgColin Kaepernick to publish book on abolishing the policethegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp Show Comments ▼ whatsapp With the Autumn Statement just a week away, George Osborne is already being inundated with suggestions on how to boost growth and cut the deficit.The CBI has already weighed in with its suggestions, including raising the threshold for employee National Insurance Contributions and cutting business rates. Britain’s unemployment rate may have dropped like a stone and growth is stronger than any other country in the G7, but the deficit remains stubbornly high and the chancellor has fallen well short of his promise to eliminate the structural deficit by the end of this parliament.To give us a preview of what the chancellor might say next week and what he should say, a panel of economists and MPs from the Conservatives’ Free Enterprise Group gathered at the Institute of Economic Affairs (IEA) this morning to deliver give their insights.One thing we are very likely to see, however, given George Osborne’s ceaseless media appearances on building sites in a hard hat is several announcements on infrastructure investment. DEFICIT REDUCTIONKwasi Kwarteng, MP for Spelthorne, said the poor performance on deficit reduction was in large part due to poor tax receipts and low wage growth. He added  that most of the low-hanging fruit in terms of spending cuts had already been picked, and tough choices lay ahead.Kwarteng, long an opponent of the idea of ring-fencing departments said after the next election the consensus on areas of spending such as international aid would come under strain.Andrew Sentance, the former member of the Bank of England’s Monetary Policy Committee (MPC), said in a pessimistic note that the Autumn Statement we need economically is not the one we are going to get. There was still significant room for spending restraint in the area of welfare, Sentance argued, and cutting unemployment benefits for the under 25s would be a sensible move by the chancellor.The IEA’s own Ryan Bourne pointed out that the UK had not been able to raise more than 38 per cent of GDP in taxes since the 1960s and there needed be a fundamental rethink about what the government should actually do rather than carrying on with departmental “salami slicing”. To cut back on the deficit, Bourne suggested the government should stop trying to expand its role in areas such as social and child care. An expansion of these programmes would in many instances end up as just another form of “middle-class welfare”, according to Bourne. Furthermore, removing ring-fencing of budgets and another comprehensive spending review would also help bring a more balanced approach to deficit reduction.On the other end of the age spectrum, Bourne said the government’s triple lock pension scheme had been a “costly mistake” and pensioners needed to share in the burden of deficit reduction. TAX REFORMThe tax system was in the sights of all the panellists. Sentance said the priority for low earners should be to lift the threshold for National Insurance Contributions, so they are more aligned with the personal allowance. Sentance went on to argue there should be a “bonfire” of exemptions and allowances to make room for the lowering of tax rates.He added that Britain hadn’t had a real tax-reforming chancellor since the days of Nigel Lawson, and that the tax system still reflected an era before the most recent wave of globalisation. These sentiments were echoed by Bourne, who said the equalisation, and/or merging of NICs and the personal allowance, could be a positive step forward.He added that the government needed to go much further in tackling the crippling marginal tax rates many face in their interaction with tax credits and other income support schemes. Iain Duncan Smith’s universal credit is making some steps in this direction.Tory MP Mark Garnier, a member of the Treasury Select Committee, highlighted the need to give “certainty” to risk takers and entrepreneurs over the top rate of tax. GOVERNMENT REFORM AND THE EUGarnier insisted that while the EU had many faults, what was needed, above all, was certainly  Britain’s approach to Europe. One of the reasons London was so highly prized by the financial services industry was its access to the single market, Garnier argued.One area where Osborne could make decent savings and significantly increase the efficiency of government, Sentance suggested, was merging government departments. He said we should move to a situation where there were only 10-12 government departments.  last_img read more

Mark Carney says UK economy is still in need of stimulus

first_img whatsapp Tags: Mark Carney People Share Bank of England governor Mark Carney signalled a dovish tone while speaking to MPs yesterday, despite insisting that the UK’s monetary policy will not be loosened even further.Carney told the Treasury Select Committee that Britain was “still an economy that requires monetary stimulus”, despite an expected growth rate of above three per cent this year. The yield on UK 10-year gilts fell 1.86 per cent during the day, closing near two per cent.However, while acknowledging threats to the UK economy from the Eurozone, Carney dismissed any prospect of the Bank delivering even stronger stimulus in the near future. “The [Bank’s] next move in policy is going to be an increase,” he said.Carney also said he may have to write an open letter to chancellor George Osborne, which the Bank governor is required to do whenever inflation moves above three or below one per cent annually.Fellow monetary policy committee member Kristin Forbes also expressed her belief that inflation would continue to undershoot the Bank’s two per cent target.“Currently measures of domestically generated inflation are also low, and that should continue to keep inflation contained for now,” Forbes said. She added that external factors were playing a significant role in keeping inflation down. However, she said the deflation was unlikely.Forbes’ colleague Sir Jon Cunliffe joined the group of doves. “With interest rates already at their effective lower bound and inflation below target, I am more worried about risk of inflation surprising again on the downside than that of an unexpected emergence of inflationary pressure,” he said. Ian McCafferty departed from the consensus, reiterating the view that has led him to vote for a rate hike in recent meetings. “The current inflation undershoot does not, in my view, negate the need for a modest rise in interest rates,”McCafferty said. Mark Carney says UK economy is still in need of stimulus Julian Harris center_img Show Comments ▼ whatsapp Tuesday 25 November 2014 9:14 pmlast_img read more

BMW launching London car rental scheme

first_imgSunday 30 November 2014 11:45 pm BMW launching London car rental scheme 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 Wrap’Crazy Rich Asians’ Director Wishes He Made South Asian Roles ‘More Human’The 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp BMW will launch a pay-as-you-go car hire scheme in London on Thursday where users can pay on their smartphone to drive an electric i3 or Mini in Hackney, Haringey and Islington. The scheme mirrors those already launched by BMW in San Francisco and Berlin. Share Show Comments ▼ Express KCS Tags: NULL last_img read more

Tories launch pre-election attack on Labour spending

first_img Share Tories launch pre-election attack on Labour spending George Osborne will today launch a stinging attack on Labour ahead of the election, claiming that a win for Ed Miliband’s party would spell billions of pounds of unfunded spending commitments and tax hikes for the UK. The chancellor is set to unveil detailed spending analysis by Treasury officials of the policies Labour has already announced, which Osborne will say run to billions of extra pounds in 2015-16 alone. He is also expected to accuse Labour of lacking fiscal discipline and economic competence, a core message for the Conservative election machine. Labour’s shadow chief secretary to the Treasury, Chris Leslie, last night hit back, accusing the Conservatives of making unfunded promises of their own. “Labour has made no unfunded commitments. In fact the Institute for Fiscal Studies said last month that we had the most cautious approach and, unlike the parties, had promised no net giveaways,” he said. Osborne will be flanked by senior cabinet minsters for the press conference, including William Hague, Sajid Javid, Nicky Morgan and Theresa May. The spending analysis marks the start of the general election campaign period, following the launch of posters by both Labour and the Conservatives. Last night a Conservative spokesman said the Prime Minister will not be attending the report launch as he is keen to avoid being the sole focus of the election campaign. Instead, David Cameron is expected to use his top ministerial team in the weeks ahead to show off the variety of ministers and MPs in the current government.“The evidence we will produce shows that Labour have not demonstrated the fiscal discipline or economic competence that earns an opposition the credibility to form a government. The chaos of unfunded spending promises, higher taxes and more borrowing offered by Labour is a risk to economic recovery,” a spokesman added. The move comes after Cameron hinted yesterday that he would like to hold an EU referendum vote before his 2017 deadline. whatsapp Tags: General Election 2015center_img Express KCS whatsapp Sunday 4 January 2015 11:29 pm Show Comments ▼last_img read more

From Nazi camps to freedom of the city

first_img whatsapp Tags: NULL Tuesday 20 January 2015 8:25 pm Express KCS whatsapp Holocaust survivors Ben Helf­gott and Sabina Miller yest­er­day received the Freed­om of the City of London. Next Tuesday is Holocaust Memorial Day■ Switzerland’S skies will be chock-a-block with private jets, big and small, as billionaires and world leaders swoop in to attend the annual World Economic Forum in Davos. The 1,700 jets expected are twice as many as usual in the airspace, due to those attending the forum. Bearing the brunt is Zurich airport, where take-off and landing slots are limited and, given the Swiss franc exchange rate, will be very expensive. Good to know that the great and the good – and the as-rich-as-Croesus – will be discussing climate change… Can’t they plane share? Share Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe Wrap’Drake & Josh’ Star Drake Bell Arrested in Ohio on Attempted ChildThe 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 WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The 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 Wrap From Nazi camps to freedom of the city last_img read more

London rents increasing six times faster than North England and Wales

first_imgLondon’s private rent prices have risen more than any other region in the UK over the last four years.The private housing rental prices index, published by the Office for National Statistics, reveals just how quickly rent is increasing in the capital compared to other areas of the country. Since January 2011, rent has increased on average by 15.3 percent in London – six times as much as it did in North England and WalesRegions around the capital also experienced rapid rent growth, with South East and South West rents growing by 8.3 and 6.4 respectively.Scotland was home to the largest increases in rent prices after South England, with prices growing by 6.3 per cent over the last four years. If viewing on a mobile device scroll down to the right of the map to reach the rest of this article. North England had the smallest increase in rent, with rental prices in the North East just 2.4 per cent higher than they were in January 2011.Growth peaked between August and October 2011, when the nation’s average private rent grew by 0.2 per cent per month. Rents have nearly halved since then, with an average monthly rent hike of 0.11 per cent in 2014  London rents increasing six times faster than North England and Wales by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity Weekzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldLivestlyThe Best Redhead Actresses, RankedLivestlyNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableySenior Living | Search AdsSenior Apartments Coming to Scottsdale (Take A Look At The Prices)Senior Living | Search AdsLux & LushShe Hid Her True Identity All Her Life With MakeupLux & LushDefinitionThe Most Famous Movie Filmed In Every U.S. StateDefinition Show Comments ▼ whatsapp whatsapp ashley.kirk Thursday 5 February 2015 10:48 am Share Tags: London house priceslast_img read more

Rebel London council rejects Airbnb laws

first_img Rebel London council rejects Airbnb laws Share Tags: Airbnb Tuesday 10 February 2015 9:08 pm A GOVERNMENT plan to allow Londoners to legally rent out their homes through websites such as Airbnb for up to 90 days has been rejected by a rebel council, claiming short-term lets can be a nightmare for neighbours. Westminster Council has come out against the plans after housing minister Brandon Lewis outlined reform details. whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPuffer fish snaps a selfie with lucky divernypost.comKiller drone ‘hunted down a human target’ without being told tonypost.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 whatsapp Show Comments ▼ Express KCS last_img read more

Rocky markets give JP Morgan’s traders a boost

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailzenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comMaternity WeekA Letter From The Devil Written By A Possessed Nun In 1676 Has Been TranslatedMaternity WeekPost FunKate & Meghan Are Very Different Mothers, These Photos Prove ItPost FunComedyAbandoned Submarines Floating Around the WorldComedyEquity MirrorThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryEquity MirrorBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushNoteableyKirstie Alley Is So Skinny Now And Looks Like A BarbieNoteableyOpulent ExpressHer Quadruplets Were Born Without A Hitch. Then Doctors Realized SomethingOpulent Express Tuesday 14 April 2015 8:52 pm Rocky markets give JP Morgan’s traders a boost Share Tags: NULL Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayot’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat is ‘Ranked-Choice Voting,’ the New System for New York’s MayoralFamily Proofcenter_img whatsapp whatsapp VOLATILE markets gave JP Morgan’s profits a boost in the first quarter, with uncertainty giving its bond and currency traders more work, the giant investment bank said yesterday.The US institution’s profits came in at $5.9bn (£4bn) in the first quarter, up 12 per cent on the year.Its revenues rose four per cent to $24.1bn, outstripping the two per cent rise in its non-interest expenses, which came in at $14.9bn.Bond trading revenues increased five per cent on the year to $4.1bn and equity trading revenues came in at $1.6bn, up 22 per cent.Investment banking fees also rose 22 per cent to $1.8bn, with all segments of the business improving.Advisory revenues rose 42 per cent on the year to $542m, while equity underwriting raked in $399m, up 13 per cent, and debt underwriting revenue came in at $820m, up 16 per cent.“Macro events including central bank actions, the removal of the Swiss franc peg, the stronger dollar, and oil price volatility, supported markets performance,” chief financial officer Marianne Lake told analysts yesterday.Some of that strength in the investment banking arm was offset by weakness in corporate and retail operations. Steven Chubak of Nomura praised JP Morgan’s “good expense discipline”.He singled out its cost to income ratio as a healthy number, coming in at 57 per cent, rather than the 59 per cent he had expected.JP Morgan’s shares rose 1.32 per cent as investors welcomed the results. Show Comments ▼ Express KCS last_img read more