A-Levels not enough, say City bosses

first_img A-Levels not enough, say City bosses whatsapp KCS-content Share BUSINESS leaders have called for more young people to study for practical qualifications as well as traditional A-Levels to stand out in the increasingly competitive fight for jobs. Around 170,000 applicants are expected to miss out on a university place this year, despite a record 97.6 per cent of students passing their A-Levels yesterday. Director general at the Institute of Directors, Miles Templeman, reassured those who have missed out on university, and called on the government to extend its Graduate Talent Pool internship scheme to include school-leavers to cope with the shortfall in university places. “University is not the be all and end all. Not all courses will confer the financial rewards so frequently cited, and employers place just as much emphasis on wider employability skills as they do on academic qualifications,” he said. However, students this year have shunned new courses intended to teach practical skills. Fewer than 600 young people passed diploma courses yesterday, introduced in September 2008 as the Labour government attempted to refocus on hands-on training. “The diploma seems to have lost its way with a tiny number of entries and gender stereotyping evidence in the selection of courses,” said Christine Blower, general secretary of the National Union of Teachers.City firms such as Fidelity and PwC have taken on more school-leavers this year to help bridge the gap between school leavers and graduate-level jobs. The CBI also put an emphasis on work experience for young people, suggesting apprenticeships or part-time study for those who have fallen short of full-time degrees. “Although students may not have planned a gap year, the CBI is urging those that have missed a place at university this year to use the time to increase their employability,” said CBI director of education and skills Susan Anderson. Birkbeck College, which offers evening courses, saw a 22 per cent rise in 18 to 24 year olds applying for part-time degrees this year, while vocational body City &?Guilds saw 20 per cent more applications.A GRADUATE’S VIEWSIMON WARNERGRADUATING with an English Literature degree from a red-brick university sounds prestigious. But since leaving Leeds this summer, I get the feeling that you need more than an undergraduate degree to get a good job. Far from seeming indispensable, my degree feels like a pre-requisite, a necessity, and certainly not enough on its own.Yes, some companies have started offering rewarding jobs for people with only A-Levels, but this won’t take the pressure off most of us. The very best 18-year-olds will inevitably benefit from the schemes, leapfrogging those who go to university, but there will still be thousands competing for university spots and dwindling jobs. And at the other end of the spectrum, a growing number of employers demand postgraduate study or even more. I am getting a lot of encouragement to do further education, for example a master’s in something practical that could help my chosen trade (I’d like to be a journalist). I couldn’t do a masters without a degree. Without a degree, though, I could have tried to learn on the job and go from there. Would that speed up my career progress? The impression I get is no. I had such a good time at university it would be a shame to have missed out – it was an invaluable experience. For those who have the opportunity to go to university, and are wondering whether it’s worth it, I would say go. But on its own, it’s not enough to secure a good job. More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Show Comments ▼ whatsapp Thursday 19 August 2010 8:42 pm Tags: NULLlast_img read more

Wetherspoon sees record profit after breakfast boost

first_img Tags: NULL Pub chain Wetherspoon has reported record results with sales increasing by £41.2m to £996.3m for year to the end of July.Profit before tax and exceptional items increasing by 7.3 per cent to £71m, compared with the same period last year.The company said it was selling more 400,000 breakfasts and 600,000 coffees each week – an increase of 40 per cent.Meanwhile in the six weeks to 5 September, like-for-like sales increased by 1.5 per cent and total sales by 7.6 per cent.Chief executive Tim Martin said: “We continue to seek to make lots of small improvements in diverse areas of the business, creating momentum in the services and facilities offered to customers, as well as sales and profits for the company.” 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 whatsapp Share whatsapp Wetherspoon sees record profit after breakfast boost Show Comments ▼ John Dunne Friday 10 September 2010 2:41 amlast_img read more

A changing global balance of power

first_imgSunday 19 September 2010 10:59 pm whatsapp A changing global balance of power Tags: NULL whatsapp IT should have been cause for some (modest) celebration – yet nobody even noticed as another milestone on the road to recovery was finally passed the other day. The total industrial output of the G7 – the UK, the US and five other top nations – added to that of the seven largest emerging economies – including China, India and Brazil – has now overtaken its pre-recession peak. In other words, while the recession wasted a couple of years of Planet Earth Inc’s economic expansion, total global output hit a new record in July and almost certainly another in August. But the devil is in the detail, as always.Production in these 14 countries – which now account for the bulk of global GDP – collapsed by 14 per cent between February 2008 and February 2009. It took only 17 months to recapture the loss, as an excellent analysis from Henderson’s Simon Ward calculates. It was not quite a V-shaped recovery but stunningly close. The reason why all of this sounds so weird and counter-intuitive to those of us in the West who are still suffering from elevated unemployment and falling confidence is that so much of the global recovery has come from ultra-fast expansion in Asia. The West is growing again but its output level remains substantially lower than at its pre-recessionary peak. It will take a while before this is no longer so. This is certainly the case in the UK, where GDP still remains lower than it was just before the bubble burst.The E7, by contrast, has contributed 9 percentage points of the 16 per cent recovery in combined output from the February 2009 low. E7 output is now 15 per cent above its pre-recession peak; its rate of growth has been entirely unaffected by the global recession. All of which confirms that the shift in power from G7 to emerging nations has accelerated further. It is likely to continue to do so over the next few months: leading indicator surveys in the G7 point to a sharp reduction in growth, though expansion will pick up again soon. Leading indicators in emerging nations have also dipped but nevertheless still suggest decent growth.But the main challenge is structural. Growth in the emerging world is even coming from countries that few realise are worth watching – especially in Africa, where a growing number of nations have started to put in place pro-growth measures. The successful ones invariably rely on pro-market changes, rather than on foreign aid. One interesting case is that of Tunisia: Newsweek ranked it as the best country in Africa, while the World Bank’s Investing Across Borders 2010 report argued that it stands out in the Middle East and the Maghreb for its looser restrictions on foreign investment and other reforms. The World Economic Forum’s global competitiveness report 2010-2011 ranked Tunisia as 32nd out of 139 countries.Rich countries cannot compete exclusively on unit costs. They do need to boost their productivity, which is being held back by poor education, infrastructure and excessive costs. Most importantly of all, they and their citizens need to wake up: complacency and hubris are deep-seated diseases eating away at the developed world’s prosperity. The first thing one notices when travelling to Shanghai, Mumbai or Dubai is the extraordinary energy, the desire to grow, conquer and succeed. Unless we rediscover some of that raw passion, we will condemn ourselves to years of relative decline. The choice is [email protected] center_img KCS-content Share Show Comments ▼ last_img read more

Germany’s largest steel firm quits Iran

first_img whatsapp GERMANY’S biggest steelmaker ThyssenKrupp has joined a growing list of businesses which have withdrawn from Iran in response to ever-harsher sanctions against the Islamic Republic. ThyssenKrupp said it would freeze all new business immediately and terminate existing contracts as soon as possible. It is the latest in a series of German companies to cut ties with Iran. Others include Daimler, Munich Re, Siemens and Allianz. A spokesman for ThyssenKrupp said Iran accounted for less than 0.5 per cent of group revenues of €40.6bn (£34.5bn) in its last financial year to 30 September 2009.Most of its existing business in Iran comprised engineering projects for cement factories, he added.The announcement came as Iranian President Mahmoud Ahmadinejad told the United Nations that most people believe the US government was responsible for the attacks of 11 September 2001, prompting US?delegates to storm out in protest. Another theory, he said, was “that some segments within the US government orchestrated the attack to reverse the declining American economy, and its grips on the Middle East, in order to save the Zionist regime.” KCS-content Show Comments ▼ Share 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 Tags: NULLcenter_img whatsapp Germany’s largest steel firm quits Iran Thursday 23 September 2010 8:29 pm More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.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.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller 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.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com last_img read more

Anti-banker populism is backfiring

first_imgTuesday 16 November 2010 9:32 pm KCS-content Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For Lifemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute Anti-banker populism is backfiring THIS is turning out to be a decent year for the global investment banking industry, despite weaker trading results and even though some firms are doing better than others. True, Wall Street’s total profitability – as defined by the broker-dealer operations of New York Stock Exchange members – will collapse 69 per cent this year to $19bn, from the exceptional and unsustainable $61.4bn collected in 2009. But this would still make 2010 the fourth-most profitable year on record, New York State’s comptroller said yesterday. Thomas DiNapoli also confirmed that a net 31,000 – one-sixth – of all Wall Street jobs have disappeared since the end of 2007. Bonuses totaled $20.3bn in 2009, up 17 per cent from 2008 (they collapsed 47 per cent in 2008). US investment banking bonuses could be up 0-5 per cent this year; but total compensation will slip for the big firms, dragged down by trading.The situation will be different in London, however, where UK and European regulators are obsessed with reducing compensation and especially bonuses. That is the reason for HSBC’s decision to double the basic pay of many of its bankers yesterday, in return for much lower bonuses. The Centre for Economics and Business Research estimates City bonuses this year will be £7bn if market forces are allowed to operate, down from £11.6bn in 2007. Yet there is now discussion that banks (how these are defined remains to be seen) should get together to cut total bonuses to no more than £4bn; it is unclear, however, how much of this is purely spin. Does the £4bn refer to cash – or also to equity? London players may have suffered more than Wall Street and bonuses may be set to fall of their own accord. There are also probably fewer investment bankers employed at the largest banks in London.More likely, the real drivers are the rules forcing a much greater emphasis on basic pay, deferred compensation and reduced cash payouts. All of these will automatically cut cash compensation this year; there will be no need for legally dubious cartels or secret meetings in smoke-filled rooms. If so, the government and the industry could pretend to have successfully pandered to the City’s enemies while not actually doing anything other than implementing the new rules.Even if compensation does fall, the envious and the left-wing commentariat should not rejoice too soon: the largest single gainer from bonuses is the taxman. If bonuses are £7bn, the taxman would get £4.1bn, with the 315,000 City workers keeping just £3.8bn. If bonuses fall to £4bn, the taxman will lose £1.8bn in revenue, since some banks are not yet paying corporation tax because of losses made in previous years. Lower compensation would force greater spending cuts and additional tax hikes on ordinary folk. It would chase away jobs to parts of the world where financiers are welcome, including New York, Singapore and Hong Kong. The anti-bonus rules will also make the industry less flexible: fixed costs will increase hugely, making banks much more vulnerable in the event of a downturn and guaranteeing far more job cuts. Populism and the politics of envy always backfire; it’s a tragedy hardly anybody understands this.ROYAL WEDDINGCongratulations to William and Kate, a lovely couple. Their engagement is wonderful news. We wish them the very best and a life full of happiness. [email protected] More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comcenter_img Share whatsapp whatsapp Tags: NULLlast_img read more

BOTTOM LINE

first_img 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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org WHEN DMGT sold the loss-making Evening Standard to Russian billionaire Alexander Lebedev in January 2009, finance director Peter Williams caused a storm by saying the firm’s love affair with newspapers was all but over. It had “crossed the Rubicon,” he declared (although chairman Lord Rothermere soon made it clear that Williams had crossed the line). DMGT abandoned plans to sell regional arm Northcliffe in 2007, so it has none of the emotional attachment that made offloading the Standard so painful; that sale was shelved after it couldn’t find a buyer willing to stump up £1.3bn. The division is likely worth less now: the outlook for regional ad sales is bleak, while pension problems remain. But Northcliffe, which accounts for just five per cent of profits, is a distraction and relaxed merger rules mean Trinity Mirror or Johnston could be interested. It’s time to sell. Monday 22 November 2010 6:21 am whatsapp Share whatsapp Tags: NULL KCS-content BOTTOM LINE Show Comments ▼last_img read more

CITY VIEWS: DOES THE GOVERNMENT APPRECIATE THE CONTRIBUTION THE CITY MAKES TO THE ECONOMY?

first_img whatsapp 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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Wednesday 15 December 2010 7:42 pm whatsapp KCS-content center_img Tags: NULL Show Comments ▼ GETHIN JONES | RSA“I think the government doesn’t appreciate the City, really, and neither do most of the voting UK public. I just don’t think the public realises how much tax revenue the City generates, or how much of the public those revenues help.”GIANCOMO GHILLO | BDB“It may do because taxes in the highest brackets have gone up. The resentment across the UK may have something to do with the government’s response against the City, considering how unpopular it is outside of London.”JONATHAN BRUNNING | MILLER INSURANCE“It depends on the government’s mood. When everything is good, the government leaves the City alone. When everything is bad, it goes after the City. The government points the finger whenever it can. The City is an easy target.” 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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof CITY VIEWS: DOES THE GOVERNMENT APPRECIATE THE CONTRIBUTION THE CITY MAKES TO THE ECONOMY? last_img read more

Analyst views: How important is this deal for BP?

first_img Tags: NULL Analyst views: How important is this deal for BP? KCS-content Monday 17 January 2011 9:20 pm Show Comments ▼ whatsapp PETER HITCHENS | PANMURE GORDON This is an exciting move. With this deal , BP will bring the expertise that it has developed in Alaska, the Beaufort Sea and Northern Siberia. By getting into bed with Rosneft, the group obtains first mover advantage.KEITH MORRIS | EVOLUTION SECURITIESThe deal looks like a typically bold BP move accessing a new region considered highly prospective. But this is an exploration opportunity so while it may be a good long-term strategic investment, delivery is years away.JONATHAN JACKSON | KILLIK & COIt looks as if BP has taken a view that the chances of it being able to access resources in the US may be beyond the company for a generation and believes it needs to look elsewhere for growth options. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comPuffer fish snaps a selfie with lucky divernypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Share whatsapplast_img read more

Profits surge at Starbucks

first_img Profits surge at Starbucks 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm KCS-content Show Comments ▼ Share Wednesday 26 January 2011 8:55 pmcenter_img whatsapp COFFEE giant Starbucks posted a 35 per cent rise in operating income yesterday, which nevertheless fell short of analyst forecasts for the full-year as the rising cost of coffee continued to dent margins. The world’s largest coffee chain has seen wholesale coffee prices increase by nearly three-quarters since last summer – due to poor weather, fears over crop failure and rising global demand. The firm reported an operating income of $501.9m (£315m) for the three months to 2 January, up from $370.9m a year earlier. Earnings per share stood at 45 cents, compared with 33 cents last year. Christmas trading, traditionally a strong period for Starbucks, saw a five per cent rise in international sales. The firm hopes to continue its aggressive expansion by opening 500 new stores in 2011, 400 of which will be outside the US. Starbucks shares, which have risen 47 per cent in the last year, lost two per cent in after-hours trading following the results announcement after the New York closing bell. “The strong momentum in our global business in fiscal 2011 positions us to deliver 15 to 20 per cent earnings per share growth compared to last year’s results, and to reaffirm our 2011 guidance despite dramatically higher coffee costs,” said chief financial officer Troy Alstead. Chief executive Howard Schultz credited some of the earnings jump to Starbucks’ foray into pre-packaged instant coffee, which grew 12 per cent in the period and now makes up six per cent of revenue. Tags: NULL 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.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPuffer fish snaps a selfie with lucky divernypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comlast_img read more

What the other papers say this morning

first_img More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Monday 31 January 2011 9:19 pm Show Comments ▼ Share whatsapp KCS-content center_img 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com What the other papers say this morning FINANCIAL TIMESWARNING AS BRIBERY LAW DELAYEDBritish companies have been warned that they could be put on an export “blacklist” by the Organisation for Economic Co-operation and Development if the government continues to delay tough new anti-corruption laws. The warning came after Ken Clarke, the justice secretary, signalled on Monday that the implementation of the Bribery Act had been pushed back because of intense business lobbying.KCA DEUTAG SALE COULD BE SHELVEDA sale of KCA Deutag is expected to be shelved as its owners have secured the backing of a key group of lenders for a plan to recapitalise the Aberdeen-based oil services group. A group of lenders holding about 50 per cent of the company’s senior ranking loans, including Royal Bank of Scotland, HSBC and Lloyds Banking Group, have agreed to support a restructuring proposed by Pamplona Capital Management, the Russian-backed private equity firm that owns the group, according to people close to talks.CASH MOUNTAIN FOR BHP INVESTORSIron, coal, copper and oil form the bedrock of BHP Billiton’s value and are the reason that the Anglo-Australian miner is now the fifth-largest company in the world, surpassing General Electric by market value.HIGH SPIRITS LIFT CHINESE LIQUOR Spirits are running high before this week’s Chinese New Year holiday as prices of a popular grain liquor soar. Moutai, the fiery official liquor for state banquets since the Communist revolution, has been variously described by foreign dignitaries as “liquid razor blades” and “smelling like a barnyard and tasting like turpentine”. THE TIMESPARISIAN FASHION LURE FOR M&SMarks & Spencer is close to returning to Paris, a decade after it closed its European stores. The retailer endured a storm of criticism from French workers when Luc Vandevelde, its chairman at the time, announced the closure of its stores on the Continent, including its flagship on Paris’s Boulevard Haussmann.DUTCH APPROACH TO PENSION PROBLEMAn investigation into private sector pensions is to look at whether a continental-style approach could produce higher retirement incomes in Britain. Lord McFall, the former chairman of the Treasury Select Committee, will head an independent commission set up by the National Association of Pension Funds to examine why the system fails so many workers.The Daily TelegraphGSK SETTLES AVANDIA LAWSUITDrug maker GlaxoSmithKline has agreed to settle a US lawsuit over its disputed diabetes drug Avandia on the eve of the case going to court. The company said it had resolved the suit brought in Philadelphia by the family of Avandia-user James Burford, who died in 2006. Glaxo declined to give details of the settlement. USA TODAY HAILS IPAD TO FIGHT DROPAmerica’s biggest newspaper publisher hailed the iPad as a ‘real positive’ for its flagship newspaper, USA Today, as it fights to counter a drop in the paper’s circulation. Publishing group Gannett, which is also the largest owner of local newspapers in the US, has radically restructured USA Today as it cuts costs and tries to dedicate more resource to the production and distribution of news digitally.THE WALL STREET JOURNALEU TACKLES STOLEN CARBON CREDITS About €7.5 million in carbon dioxide emissions allowances stolen in a hacking attack in Austria are being returned to an Austrian national emissions registry from foreign accounts, the state prosecutor’s office said Monday. The imminent retrieval of 488,141 emissions certificates from Liechtenstein and Sweden comes as leading energy traders Monday urged registries to reopen quickly following a series of thefts under the EU’s Emissions Trading System that have led the EU to shut the spot market until security is improved.THE DOW’S ROCKIN’ NEW YEAR Blue-chip stocks kicked off the new year with their strongest January in 14 years, as a boom in corporate revenues and robust economic readings gave investors confidence that the US economy has turned a corner. whatsapp Tags: NULLlast_img read more