Wall Street fumes over GM fee cut

first_imgMonday 16 August 2010 8:47 pm KCS-content whatsapp Wall Street fumes over GM fee cut Show Comments ▼ Sharecenter_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 ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp WALL STREET has been left fuming after an exceptionally cheap pitch from Goldman Sachs led the US Treasury to slash fees for all banking advisers on its impending $20bn (£13bn) flotation of General Motors.Goldman, which was mired in allegations of securities fraud when it applied for a role in the GM initial public offering (IPO) in May, offered to work for a fee of 0.75 per cent – far below the three per cent usually charged by corporate finance houses. Goldman was desperate to secure an underwriting position despite the scandal surrounding the Security and Exchange Commission (SEC)’s case against trader Fabrice Tourre.The US government forced other banks to match Goldman’s challenge, reducing their potential haul from $600m to $150m and sparking irritation among senior dealmakers. Among those affected are lead managers JPMorgan, Morgan Stanley, Bank of America and Citigroup. Goldman eventually landed a less prominent place in the IPO line-up along with Credit Suisse.Jacob Frenkel, a lawyer at Maryland-based Shulman Rogers, told City A.M.: “This comes down to the fundamental premise that industry leaders set prevailing market prices.”GM is expected to file its IPO prospectus with the SEC as early as this morning after making tweaks to take into account the surprise departure of chief executive Ed Whitacre. Tags: NULLlast_img read more

Mystery bidder makes Chi-X approach

first_img Mystery bidder makes Chi-X approach Show Comments ▼ A MYSTERY bidder has made an approach for London Stock Exchange (LSE) rival Chi-X, sending the market rumour-mill into overdrive.Chi-X released a statement admitting an enquiry has been received but would not be drawn on who the bidder was.Pan-European stock market BATS was touted as a potential suitor yesterday. The firm declined to comment but City A.M. understands it is not the source of the enquiry.Other likely suitors include Nasdaq and Deutsche Börse, both of whom are said to be eager to consolidate given tough market conditions.An industry source told City A.M.: “What the market will be looking out for is interest from other sources now someone has broken cover.“Volumes are anaemic and it is difficult for exchanges to make a profit. The LSE has already consolidated with its acquisition of Turquoise and could face competition issues if it bid for Chi-X. Nasdaq is a more likely rival bidder as it doesn’t have a presence in Europe at the moment.”Chi-X, which says it has made an operating profit for the last seven months, was set up in 2007 to rival the LSE. Tuesday 24 August 2010 7:56 pm whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proofcenter_img Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldUndoTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdUndo KCS-content Tags: NULL whatsapplast_img read more

AIRLINE WORKERS SNUB DEAL

first_img Share whatsapp Tags: NULL Read This Next’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 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 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 KCS-content AIRLINE WORKERS SNUB DEAL center_img Show Comments ▼ whatsapp Members of American Airlines’ mechanics union rejected a contract proposal and authorised union leaders to call a strike, the Transport Workers Union (TWU) said yesterday.The union said on its website late on Tuesday that two American Airlines work groups represented by the TWU — the mechanics and the stock clerks — voted against a provisional pay deal.A third bargaining unit — the technical specialists — approved their deal.“Our members have spoken loud and clear,” said TWU International vice president Garry Drummond, who heads the union’s Air Transport Division. “After four years of negotiations, a majority of TWU members … were not convinced that this agreement represented an adequate return,” he added. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastElite HeraldKate Middleton Dropped An Unexpected Baby BombshellElite HeraldTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading Blvd Wednesday 25 August 2010 8:44 pmlast_img read more

Businesses warn mountain of red tape will cost billions

first_imgThursday 30 September 2010 10:37 pm Tags: NULL Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Share whatsappcenter_img Businesses warn mountain of red tape will cost billions A MOUNTAIN of new red tape will cost firms billions of pounds, business groups warned yesterday. The British Chambers of Commerce (BCC) said a raft of new employment regulation and the new Equality Act, which becomes law today, would hamper job creation and cost businesses £189.2m. Meanwhile the national minimum wage will today rise by 13p to £5.93 an hour, while apprentices will be entitled to a wage of at least £2.50 an hour.And employment legislation due to be passed between now and 2014 will cost firms a staggering £11.3bn, despite the government promising a bonfire of red tape during the election campaign. David Frost, director-general of the BCC, said: “If private sector businesses are to offset job losses in the public sector, the significant costs of employing people must be reduced. As austerity measures start to bite, companies need the flexibility and freedom to boost employment and drive our economic recovery.“While we have heard some good announcements from the Coalition about reviewing and scrutinising upcoming red tape, businesses are yet to see the benefits.”The Institute of Directors (IoD) also hit out at the government’s decision to extend the right to request flexible working to parents of children under 18 from next year. “This is particularly unwise when we know that creating another formal employment right would add to the already excessive amount of administration businesses have to conduct to comply with regulations,” a spokesperson for the IoD said. Meanwhile, the IoD voiced its opposition to the coalition’s £2bn levy on the banking sector, warning it would pave the way for future governments to increase it while encouraging banks to relocate overseas. “There is clearly public concern about how some of the banks have behaved which needs to be addressed, but this should be done in a way that doesn’t encourage the banks to move their headquarters out of the UK,” said Miles Templeman, director-general of the IoD.He added: “There is a risk that the bank levy, as currently designed, will drive banking business away.” KCS-content More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.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.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com whatsapplast_img read more

ECONOMISTS’ VIEWS: IS INFLATION HERE TO STAY?

first_img Show Comments ▼ whatsapp More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Sunday 13 February 2011 11:09 pm whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldBetterBe20 Stunning Female AthletesBetterBeWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoam KCS-content center_img JAMIE DANNHAUSER | LOMBARD STREET RESEARCH“We broadly sympathise with the view of the Bank – that inflation will peak this month or in March, but fall heavily in January next year and be below target through next year.”IAN STEWART | DELOITTE“My assumption is that a good deal of the excess inflation relates to transient external influences, and we are likely to see inflation running around about target levels next year.”MICHAEL SAUNDERS | CITIGROUP“Over four years, prices of imported factory goods are up 24 per cent and imported foods have soared 43 per cent. The pass-through from cost pressures is not over and, together with less slack from the recession than usual, will keep UK inflation above target for an extended period.” Tags: NULL Share ECONOMISTS’ VIEWS: IS INFLATION HERE TO STAY? last_img read more

Essar buys Shell refinery for £215m

first_img Show Comments ▼ More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comConnecticut man dies after crashing Harley into live bearnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Essar buys Shell refinery for £215m Tags: NULL John Dunne Sharecenter_img whatsapp Essar Energy said it has agreed to buy Royal Dutch Shell’s Stanlow refinery in northwest England for $350m (£215.7m) in cash, giving the Indian focussed oil and gas business direct access to the UK market.Essar Energy, which has a majority stake in India-listed Essar Oil, said it had entered into an exclusive agreement until 31 March to buy the second largest refinery in the UK.Naresh Nayyar, Essar Energy’s chief executive, said Stanlow was a high quality refinery in terms of its employees, its assets, its location and its customer base.“Stanlow also fits very well with our strategy of providing options for the export of high quality products from our Vadinar refinery in India,” he said.The exclusivity period allowed Shell to consult with its employees at the site, Essar said. It will pay Shell a break fee of $50m if it does not proceed with the purchase.Essar will make a separate payment for the oil and refined products on the site, estimated to be worth about $780m based on current prices, when the deal completes. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoam whatsapp Friday 18 February 2011 10:51 amlast_img read more

US tax probe set to widen

first_img KCS-content Show Comments ▼ whatsapp Tags: NULL The US tax probe that resulted in high-profile charges for a handful of Swiss bankers is expected to widen to include banks from Asia and Israel. It is understood the US authorities believe some clients shifted cash to banks in other jurisdictions instead of reporting them to the US. Meanwhile, there are fears that Credit Suisse could become the next high-level bank embroiled in the investigation, following the indictment last week of four of its bankers. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgcenter_img Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Sunday 27 February 2011 11:59 pm whatsapp US tax probe set to widen last_img read more

Wealth managers cheered by new non-dom rules

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Wealth managers cheered by new non-dom rules Wednesday 23 March 2011 5:18 pm alison.lock Share whatsappcenter_img The City’s private wealth industry received a boost after the Budget’s reform of how the UK’s wealthy non-domiciled residents are taxed proved more benign than expected.Chancellor George Osborne said ‘non-doms’ – people resident but not domiciled for tax purposes in the UK – will have to pay more after living here for 12 years.With the government grappling for cash to lower massive deficits, many feared a significant hardening of the non-dom rules, potentially damaging London’s burgeoning wealth management industry.Non-doms, who currently pay a £30,000 annual levy after seven years, will now pay £50,000 after 12 years but will not pay tax on foreign income or capital gains remitted to the UK if it is invested in British business.“Everyone was worrying about the worst case scenario… It’s a lot better than it could have been,” said Sophie Dworetzsky, a partner specialising in private client wealth management at law firm Withers.London wealth managers enjoy a competitive advantage in being able to run money offshore for thousands of highly paid foreign City financiers and residents who use London as a tax haven.A multi-billion dollar industry providing investment and banking services including premium credit cards and and private jet financing has grown up around these communities but faced an uncertain future if the rules had hardened.Osborne also said there would be “no other substantive changes” to the non-dom rules for the remainder of the current parliament. Show Comments ▼ 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Tags: NULLlast_img read more

German jobless at 20-year low

first_img Share alison.lock Show Comments ▼ German unemployment fell sharply for a second month in March, pushing the jobless rate down to 7.1 per cent, its lowest level since figures for a unified Germany were first published two decades ago.In a sign that demand for labour remains robust in Europe’s largest economy, the Federal Labour Office said unemployment fell by 55,000 in March after a drop of 54,000 in February.The decline, which was helped by mild weather conditions, brought the overall unemployment total to 3.005m, and took the sting out of an unexpected drop in retail sales for February which economists said was linked to rising inflation.“It is obvious that German consumers will not engage in a spending spree,” said Carsten Brzeski at ING Financial Markets.“However, with pent-up demand over the last years, strong economic prospects, more people at work and higher wages, the fundamentals for decent consumption boom in Germany have hardly been better since reunification.” Labour Office head Frank-Juergen Weise said demand for labour was “high” and that growth in full-benefits paying jobs was continuing. The German government used a number of job boosting schemes, including “Kurzarbeit” subsidies, to cushion the blow from a record contraction in gross domestic product (GDP) in 2009.The measures helped the German labour market outperform its peers in Europe at the height of the global financial crisis and the economy has gone from strength to strength since. German jobless at 20-year low whatsapp Tags: NULL whatsapp Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Thursday 31 March 2011 6:51 amlast_img read more