Watchdog slaps £1.6m fine on SocGen

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmFolliboost Haircare SerumThinning Hair? Use this For 1 Month and See What HappensFolliboost Haircare SerumAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleBetterBeDrones Capture Images No One Was Suppose to SeeBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.cominvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal Pastthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp Wednesday 25 August 2010 8:09 pm More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.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.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com THE Financial Services Authority (FSA) regulator fined French bank Societe Generale £1.575m yesterday for failing to provide accurate transaction reports.The fine handed out to SocGen, which in 2008 lost around €5bn (£4.1bn) in a trading scandal, follows previous penalties handed out to Barclays, Credit Suisse and Commerzbank for similar failings.The FSA said that between November 2007 and February 2010, SocGen had either failed to report, or inaccurately reported, 18.8m of its 23.5m reportable transactions.It added that the SocGen breaches occurred despite the FSA sending out repeated reminders to companies of their obligations to provide accurate data, and of the importance of complying with FSA rules concerning the reporting of transactions.“SocGen failed to accurately report a very high proportion of its transactions for a significant length of time,” Margaret Cole, FSA director of enforcement and financial crime, said.“This failure is a serious breach of our rules as it can have a damaging impact on our ability to detect and investigate suspected market abuse,” she added. whatsappcenter_img KCS-content Share Show Comments ▼ Watchdog slaps £1.6m fine on SocGen Tags: NULLlast_img read more

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Diamond defends BarCap against ‘casino’ allegations

first_imgSunday 12 September 2010 11:18 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.orgKiller drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA 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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com KCS-content whatsapp Diamond defends BarCap against ‘casino’ allegations whatsapp Share Show Comments ▼ BARCLAYS’ Bob Diamond at the weekend lashed out at the criticism he has received since being appointed as the group’s new chief executive last week.Diamond, who currently heads up the investment banking arm Barclays Capital, said references to the division as a “casino” were misleading and disappointing.“Words like ‘casino banking’… have no basis in reality and generally come from people that don’t understand what a bank does and how important risk is in terms of the business we do with our clients,” he told the Sunday Telegraph.“It’s disappointing when we hear reference that Barclays Capital is a casino – we closed down our proprietary trading in 1998.”Diamond, who is due to replace outgoing chief John Varley in April next year, insisted that the group would cooperate with the banking commission on its inquiry into the structure of the sector in the future. But he reiterated the group’s support for the universal banking model, adding: “We have a very strong view that our business model fits exactly what is the right model for the UK.”Since the crisis, the integration of retail and investment banking operations under one roof has been a particular bugbear for politicians who believe it increases risk in the system. Tags: NULLlast_img read more

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Credit card use up, despite healthy accounts

first_img Share whatsapp Credit card use up, despite healthy accounts The days when credit cards were used solely for “big ticket” or major purchases are long past. A new report from YouGov SixthSense indicates that credit cards are increasingly being used more like debit cards to pay for everyday items, and not just for goods and services requiring credit. ONE THIRD USE CREDIT EACH WEEK This is seen clearly in the high frequency with which cards are used: over one-third of credit card holders (35 per cent) use them at least once a week, and another 17 per cent use them two to three times per month. However, the tendency to use cards for everyday spending is not related to users’ financial difficulties or the need for short-term credit. In fact, high frequency users are generally affluent and in good financial health. Further consumer data provided by YouGov SixthSense suggests that up to 9.6m credit card holders have changed the nature of their credit card usage in the past two years. This group can be broken down into two further categories: firstly, the 2.2m who have moved from a position of owing money on their credit card to not owing anything on their card; and 7.4m who have reduced their credit card debt during the recession.CREDIT AND DEBIT USAGE BLURREDThis blurring of the lines between credit and debit card usage is sure to have an effect on the way providers currently operate; operators must explore non-interest methods of generating revenue from customers, and keeping them satisfied. But this may not be straightforward as changing terms and conditions over the past few years have unsettled customers. Data from the Financial Services Authority indicates that total complaints received about credit cards are rising rapidly. Between 2006 and 2010, the number of complaints rose by 172 per cent, despite the number of cards in issue falling.Stephan Shakespeare is chief executive and co-founder of YouGov. KCS-content Tuesday 26 October 2010 8:01 pmcenter_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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald Show Comments ▼ 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 WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Tags: NULLlast_img read more

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Axa Asia Pacific receives £8bn bid

first_imgMonday 15 November 2010 2:36 am Tags: NULL John Dunne Show Comments ▼ whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Share whatsapp Australian wealth manager AMP and French insurer AXA launched a new $13.1bn-plus (£8.1bn) bid for AXA Asia Pacific, a move set to challenge banks’ domination of the world’s fourth-largest wealth market down under.A deal would put AMP at the top of Australia’s $1.2 trillion wealth management market, and end one of Asia’s largest takeovers that has dragged on for a year.It would also allow AXA to exit Australia and help it to focus on its stated goal of growing in Asia, where businesses in eight countries contributed 60 per cent of its operating earnings in the first half of 2010.In a complex stock and cash deal, AMP will pay A$4.15bn for AXA Asia Pacific’s Australia and New Zealand business, while AXA SA will pay A$ 10.4bn for the Asian assets, including taking over A$1.3bn in debt.“This should eventually close the deal,” said Tom Elliot, managing director at Melbourne-based hedge fund MM&E Capital. “The AXA Asia board has no other bidders and the deal meets the price they want. The only issue is it is heavily scrip-based.” Axa Asia Pacific receives £8bn bid last_img read more

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Goldman loses trio of its key bankers

first_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap Show Comments ▼ Tags: NULL whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNext RefinanceThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryNext RefinanceUndoFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterUndoFactableThis Is What Historical Figures May Have Really Looked LikeFactableUndoBrake For It40 New Features In The 2021 Ford BroncoBrake For ItUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoItsTheVibeThe Cutest 1980’s Stars Are Now In Their 60s, This Is Them NowItsTheVibeUndomoneywise.comKirkland Products That Are Actually Big Brands In Disguisemoneywise.comUndoMovie JewelInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeMovie JewelUndoFamilyThisThe Biggest Wrestlers From Back In The Day & How They Look NowFamilyThisUndo AT LEAST three members of Goldman Sachs’ London equities team will retire from the firm.Head of the principal strategic investment group Phillip Hylander will step down at the end of the year to become an advisory director to the bank.Joining Hylander out of the revolving door will be Matthew Cyzer, who heads up the sales trading operation in Europe and his counterpart in the trading division John Ashdown, who are both retiring.It is not clear if the bank plans on directly replacing the key figures. It has been hit by falling revenues in the division, with sales falling 32 per cent so far this year. It is also understood that the closure of its prop trading division, located within the equities team, in response to new legislation, could be a consideration when deciding whether to replace the trio.The bank has already drafted in Brian Levine, chief operating officer of its London-based One Delta business, from New York, who oversees most of its equities operations.Last month Goldman released the names of 110 of its staff who have been promoted to partner.The number promoted is around 10 per cent higher than the average and the highest since 2006. Just 94 employees were promoted to partner in 2008, the last intake.The total number of partners is believed to have grown, with only 60 leaving the bank since the last count, although Goldman closely guards the exact figure.Around 26 per cent, a higher proportion than usual, are based in Asia, with only 45 per cent of the partnerships being awarded in North and South America. A further 29 per cent are from Europe. center_img Goldman loses trio of its key bankers Sunday 12 December 2010 10:47 pm Share KCS-content whatsapplast_img read more

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National Express drives forward after strong quarter

first_img Tags: NULL Share Friday 17 December 2010 3:02 am whatsapp John Dunne More From Our Partners I blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org whatsappcenter_img National Express said it expects full-year profit to exceed market expectations, helped by a strong across-the-board performance in the fourth quarter.The bus, coach and train operator said on Friday that all parts of its business had performed well since October, with especially strong revenue growth at its British rail and coach businesses and in North America.“The group has continued its strong progress during the fourth quarter, with ongoing growth in year-on-year profitability,” the company said in a statement.“As a result, the board now expects normalised profit before tax for 2010 to be a little above current market expectations and markedly stronger than was expected back in January 2010.”National Express said margin recovery at its UK bus unit was ahead of its plans and that its Spanish bus and coach businesses were growing despite tough economic conditions. 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 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 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 Show Comments ▼ National Express drives forward after strong quarter last_img read more

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McDonald’s boosted by Europeans

first_img 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 PastWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamSerendipity 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 HeraldBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBe Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut Share Tuesday 8 February 2011 9:00 pm whatsapp whatsapp Show Comments ▼center_img Tags: NULL MCDONALD’S yesterday reported a stronger-than-expected sales rebound in January in Europe, its biggest market for revenue.Sales at restaurants in Europe open at least 13 months jumped seven per cent last month, well above the 3.7 per cent analysts had expected. This was also a significant improvement from December, when sales in Europe fell 0.5 per cent, rattling investors who worry that austerity measures will cut into spending in the region that contributes about 40 per cent of McDonald’s revenue.Worldwide, McDonald’s January same-restaurant sales were up 5.3 percent, above the 4.4 per cent analysts had expected. In the US, where high unemployment continues to weigh on the fast-food business, sales rose 3.1 per cent – below the 4.4 per cent gain forecast by analysts. KCS-content McDonald’s boosted by Europeans last_img read more

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Wood in £1.75bn sale of unit

first_imgSunday 13 February 2011 11:43 pm whatsapp whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Show Comments ▼ Wood in £1.75bn sale of unit center_img General Electric says its oil and gas business has reached a deal to buy the John Wood Group’s well support division for about $2.8bn (£1.75bn). GE said in a statement yesterday that the deal must be approved by Wood Group’s shareholders. It’s expected to close later this year. Wood said last week it was considering a disposal. KCS-content 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 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 AthletesBetterBeAlphaCute30 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 Share Tags: NULLlast_img read more

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Morrisons ditches MBL

first_img Morrisons ditches MBL whatsapp KCS-content Tuesday 15 March 2011 8:26 pm Share Show Comments ▼center_img 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 PastSenior 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 TimesBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical Geniusmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Home entertainment distributor MBL Group has warned of job losses for “many of its employees” after supermarket Morrisons pulled the plug on a 14-year relationship with the firm. MBL, which supplies Morrisons with CDs and DVDs, has put itself up for sale in the hope of securing a rescue deal. Morrisons – the UK’s fourth largest supermarket – accounted for 78 per cent of MBL’s turnover. whatsapp More From Our Partners Native 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.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Tags: NULLlast_img read more

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Japan quake hits product supply chain

first_imgTuesday 15 March 2011 9:33 pm whatsapp Share Tags: NULL Japan quake hits product supply chain KCS-content 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 FEARS over a significant shortage of components needed by manufacturers worldwide due to Japan’s devastating earthquake and tsunami saw prices for key technology parts surge higher yesterday.Japan is a dominant chip industry player, with around one-fifth of the world’s semiconductor production. Spot prices of NAND flash memory chips used in the fast-growing mobile devices market, rose nearly three per cent yesterday after a 20 per cent jump on Monday, while dynamic random access memory (DRAM), microcontrollers chip prices gained 0.2 per cent on top of a seven per cent rise on Monday.Demand for NAND flash memory chips has been surging, led by mobile devices and tablets like Apple’s iPad 2. Apple said yesterday it was delaying the launch of its iPad 2 tablet in Japan after the disaster, but it did not say it was due to supply problems.The disaster has struck transport and power supplies in the country hard, resulting in factory closures and disrupted deliveries.Research provider IHS iSuppli warned of “significant” shortages for certain components and a knock on impact for companies worldwide.Analyst Dale Ford said: “While there are few reports of actual damage at electronic production facilities, impacts on the transportation and power infrastructure will result in disruptions of supply, resulting in short supply and rising prices.” last_img read more

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