BP gets $5bn loans on oil sales

first_imgMonday 16 August 2010 8:43 pm Show Comments ▼ whatsapp Beleaguered energy giant BP?has secured $5bn (£3.2bn) fresh financing by securing debt against its revenues from oil sales for the first time. It is understood the debt will be used to ease BP’s general liquidity position rather than to fund the $20bn escrow account set up to pay for damages caused by its gargantuan oil spill off the coast of Louisiana in the US. BP said the loans created “further flexibility for BP as an alternative form of financing in addition to its more conventional debt financing such as corporate lending”. KCS-content BP gets $5bn loans on oil sales Tags: NULL whatsapp 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 Sharelast_img read more

Watchdog to tighten oil checks

first_img whatsapp More From Our Partners Astounding 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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPuffer fish snaps a selfie with lucky divernypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.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.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Monday 23 August 2010 8:24 pm KCS-content The number of significant oil spills off the shores of the UK rose sharply in 2009/10, according to figures released today by the Health and Safety Executive (HSE). The industrial regulator said there were 85 large unplanned leaks over the past year, up from 61 the year before. The majority occurred in the North Sea. The HSE plans to clamp down on oil and gas rig operators with a programme of more “intrusive investigations” as a result, vowing to throw more resources into checking companies’ exploration and extraction equipment. The news indicates heightened awareness of the dangers of offshore exploration following BP’s disastrous three-month leak at its Macondo well in the Gulf of Mexico Watchdog to tighten oil checks Share Show Comments ▼ Tags: NULL whatsapplast_img read more

Sinochem seeks Temasek help for rival Potash bid

first_img KCS-content Sinochem seeks Temasek help for rival Potash bid by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Show Comments ▼ whatsapp Sharecenter_img Tuesday 7 September 2010 11:31 pm whatsapp Tags: NULL Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’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 ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily 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 ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof SINOCHEM, China’s state-owned trading company, has approached Temasek to join a consortium of firms looking to rival BHP Billiton’s bid for Canada’s PotashCorp.The move by Sinochem comes after Chinese authorities demanded state companies meet with investment bankers to look at ways to block BHP’s $39bn (£25.4bn) move for PotashCorp.Bill Doyle, PotashCorp chief executive, said yesterday that a number of third parties were interested in buying the fertilising giant.“There is a wide universe of potentially interested parties and we believe BHP will not be the only bidder,” said Doyle.BHP has recently come under immense pressure to sweeten its $130-a-share bid for PotashCorp, which has been called “grossly inadequate”. last_img read more

Galliford Try bounces back

first_img Wednesday 15 September 2010 3:33 am whatsapp Galliford Try bounces back UK housebuilder and construction firm Galliford Try posted a 6.5 per cent rise in full-year adjusted pre-tax profit, aided by growth in its housebuilding division, and said it was on track for expanding the unit.The firm, whose origins can be traced back to 1908 when WS Try formed a construction business that carried out work in the west of London, declared a final dividend of 9.2 pence, taking the total dividend for the year to 12.5 per cent.This is a 15 per cent rise on the total dividend of 10.9 pence last year, which has been restated to take account of the share consolidation and rights issue, the company said.“We have been encouraged by the level of sales and prices achieved since the start of our new financial year when set against the backdrop of the effect on consumer confidence of the current economic uncertainty,” chief executive Greg Fitzgerald said in a statement.For the year ended June 30, pretax profit before exceptional items rose to £26.1m from £24.5m.Revenue fell 16 per cent to £1.22bn on a fall in demand for construction projects after clients curbed spending amid a credit crunch. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 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 Sharecenter_img Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More 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 TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoPeople-TodayWoman Files For Divorce After Seeing This PhotoPeople-TodayUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo whatsapp Show Comments ▼ John Dunne Tags: NULLlast_img read more

Part time jobs fuel surge in employment

first_imgWednesday 15 September 2010 8:44 pm THE NUMBER of people in employment grew at the fastest rate since records began in the three months to July, official figures revealed yesterday – boosted by a surge in part-time workers as employers cut back on working hours. Employment for the quarter rose by 286,000 to 29.16m, representing a 0.4 per cent rise in the rate to 70.7 per cent. This is the biggest quarterly rise since 1971, according to the Office for National Statistics (ONS).However, the figure was boosted by 166,000 part-time jobs, continuing a trend during the year for employers to rely increasingly on part-time workers. Part-time workers now account for 27.2 per cent of total employment, up from 25.4 per cent as of mid-2008.Despite the rise in employment, the number of Britons claiming jobless benefits in August rose for the first time since December 2009.Overall, the claimant count rose by 2,300 last month, taking the total to 1.466m, and ending seven consecutive months of a decline in those claiming Job Seeker’s Allowance. This increase was entirely borne by women, the figures showed. The mixed picture painted by yesterday’s data, especially the more recent claimant count figures, disappointed economists. “The jump in part-time employment indicates that many companies are reluctant to add full-time workers amid serious concerns over the sustainability and longer-term strength of the recovery,” said economist Howard Archer at IHS Global Insight.Although earnings growth picked up, it still remained subdued. Headline average weekly earnings rose 1.5 per cent in the three months to July up from 1.1 per cent in the quarter to June. But stripping out the more volatile bonus component, core earnings growth rose to 1.8 per cent in July , a little stronger than expected. whatsapp Part time jobs fuel surge in employment KCS-content Share Show Comments ▼ 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 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 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 whatsapplast_img read more

PZ Cussons buys St Tropez for £62.5m

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 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily Proof Monday 27 September 2010 3:15 am John Dunne Share PZ Cussons buys St Tropez for £62.5m Show Comments ▼ whatsappcenter_img whatsapp 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.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Soap and shampoo maker PZ Cussons has bought tanning-products firm St Tropez from its private-equity owner LDC for £62.5m in cash.The maker of Imperial Leather soaps and Carex handwash said St Tropez was a good fit with its portfolio of premium brands, which includes The Sanctuary and Charles Worthington hair-care products.St Tropez sold £20.7mof its self-tanning lotions and sprays in the year to end-July 2010, mainly in the UK through retailers such as Boots, Superdrug, Sainsbury’s and John Lewis.PZ Cussons Chief Executive Alex Kanellis said: “We see good growth opportunities, both in the UK and overseas, particularly by linking the strategy to that of The Sanctuary spa brand.”The company said the deal was expected to be earnings enhancing in the current financial year. Tags: NULLlast_img read more

France hopes for strong growth in 2011 and ducks swingeing cutbacks

first_img FRANCE will curb civil service spending and scrap tax breaks but otherwise rely on faster economic growth to replenish public coffers in 2011, according to a budget bill that some economists said lacked ambition.Wary of voter dismay over pension reforms ahead of elections in early 2012, President Nicolas Sarkozy is seeking to honour deficit-reduction pledges without the level of austerity that many of France’s Eurozone peers have programmed in as they seek to neutralise the heavy state spending that helped pull them out of recession.The cornerstone of the bill presented yesterday is a cut in the public deficit to six per cent of gross domestic product in 2011 from 7.7 per cent in 2010, the first phase of a plan to trim the gap to the EU’s three per cent ceiling in 2013 and to two per cent in 2014. France also expects it debts to peak in 2012.Economy minister Christine Lagarde said she hoped the plans for deficit cuts worth close to €40bn (£34bn) next year would reassure financial markets that remain edgy about bloated debt levels in many European countries.“Investors who finance and refinance our debt are extremely attentive to improvement of public finances, as are the rating agencies,” she told said.The centre-right government has to convince markets that France is serious enough on deficit control to keep an AAA credit rating that allows it to service its debt at a low cost. whatsapp 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.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Share More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Show Comments ▼ KCS-content center_img Wednesday 29 September 2010 11:12 pm whatsapp Tags: NULL France hopes for strong growth in 2011 and ducks swingeing cutbacks last_img read more

Slump in leisure spending leads to a surge in 24-hour licence applications

first_imgSunday 14 November 2010 10:23 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comColin Kaepernick to publish book on abolishing the policethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKansas coach fired for using N-word toward Black playerthegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com whatsapp Share HARD-pressed pubs and bars hit by the slump in leisure spending are turning to 24 hour licences in an effort to maintain sales.According to legal information provider Sweet & Maxwell, the number of 24-hour alcohol licences for pubs, bars and nightclubs jumped 12 per cent to 946 this year from 845 the year before. The 2005 changes to licensing laws have led to a radical shake up in the after hours drinking market. But the smoking ban and recession-related consumer spending slowdown have prompted more pubs and bars to seek longer opening hours.Pubs also face increased competition from supermarkets selling discount drinks, often with longer opening hours. Sweet & Maxwell found the number of stores with 24 hour licences increased by seven per cent to 1,659 this year.Licences for traditional late-night drinking venues like nightclubs have not seen the same rate of growth for alcohol licences. This comes as admissions to UK nightclubs fell 7 per cent to 169m in 2009 from 182m in 2005, when the licensing laws were changed. Many drinkers who previously were forced to visit a nightclub now prefer to go to a late-opening pub or buy alcohol from a late-licence supermarket for consumption at home.The report also found licences for non-profit clubs, like local football and rugby clubs, has declined by 2 per cent to 17,000 this year. This could be because many have been forced to cut costs because their income has fallen due to recession. whatsapp Show Comments ▼ Slump in leisure spending leads to a surge in 24-hour licence applications KCS-content Tags: NULLlast_img read more

Sarkozy keeps key figures

first_img Show Comments ▼ French President Nicolas Sarkozy reappointed a trusted ally as prime minister and named new defense and foreign ministers in a Sunday night reshuffle aimed at shoring up his position 18 months before a presidential poll. Economy minister Christine Lagarde, budget minister Francois Baroin and interior minister Brice Hortefeux were among proven heavyweights who kept their jobs. Baroin was also appointed government spokesman, Sarkozy’s office said in a statement. The new cabinet, which puts old-school lynchpins of the ruling center-right UMP party in charge of key ministries, is not expected to result in major policy shifts. Defense minister Herve Morin and foreign minister Bernard Kouchner were replaced. KCS-content Sarkozy keeps key figures whatsapp Sharecenter_img Sunday 14 November 2010 10:26 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com 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 WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more

Bailout chaos fails to cheer markets

first_img Tags: NULL Show Comments ▼ KCS-content whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Tuesday 23 November 2010 9:01 pmcenter_img whatsapp Share MARKETS continued to tumble and peripheral Eurozone gilt yields jumped yesterday as Ireland’s political turmoil added to the uncertainty surrounding its bailout. The Eurostoxx 50 saw 1.5 per cent wiped off its value, sliding to 2,745 while the Irish ISEQ 20 index lost two per cent to close at 432.In a sign of contagion fears, the FTSE 100 and Portuguese PSI 20 also dropped, with the PSI losing 1.3 per cent to close at 7,623 and the FTSE losing 0.9 per cent to close at 5,600.The cost of borrowing for Eurozone economies continued to climb. Irish 10-year gilts saw their yield jump up to 8.4 per cent – close to the nine per cent mark that prompted an escalation in market fears last week.Portuguese 10-year gilt yields rose over 6.9 per cent and Spanish 10-year note yields topped 4.9 per cent. The cost of insuring Irish debt also rose again yesterday, with five-year credit default swaps (CDS) on Irish gilts rising 26 basis points to 555bps (a cost of €555,000 to insure €10m of debt). Five-year CDS on Portuguese debt also jumped, by 28bps to 486bps.And the euro’s movements confirmed the run of bad news for Europe. The single currency dropped from 85.3p to 84p against sterling yesterday and from $1.36 to $1.34 versus the dollar.The continued slide in stocks reflects fears both that Ireland will not be able to pass the necessary austerity measures and that the bailout won’t solve the country’s underlying insolvency problems. 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 The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Bailout chaos fails to cheer markets last_img read more