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first_img KCS-content Intel is to buy German chipmaker Infineon’s wireless unit for $1.4bn (£900m) as it seeks to claw its way into the booming smartphone market and reduce its reliance on PCs.The move, agreed yesterday, is the second major deal for Intel in two weeks. The company has already announced a $7.7bn deal for security software firm McAfee.The deal is designed to help the world’s biggest chipmaker break into the rapidly expanding smartphone market. It is desperate for a foothold after selling its chip business for mobile handhelds and mobile phones to Marvell Technology for $600m four years ago.Intel dominates the market for PC microprocessors and its Atom mobile chips took the low-cost, no-frills netbook market by storm.However, pressure from tablet computers such as Apple’s iPad is chipping away at demand for notebooks and PCs.Intel plans to keep Infineon’s mobile unit independent once the all-cash transaction closes in the first quarter of 2011.Arvind Sodhani, executive vice president of Intel, said: “We have learned from our experience over the past 20 years that many of our previous acquisitions have not been as successful as we would have liked them to be, that’s why we are keeping this entity independent.”Infineon, based near Munich, supplies chips to companies such as Nokia, LG and Apple. The sale of its wireless arm could open the door on a special dividend for shareholders, who have not seen a payout in years. Show Comments ▼ whatsapp Intel snaps up Infineon’s wireless arm Share More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.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.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.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com whatsapp Monday 30 August 2010 9:21 pm Tags: NULLlast_img read more

first_imgWednesday 22 September 2010 9:02 pm BBC opens up its books whatsapp whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Under a deal announced yesterday, the National Audit Office will be able to vet contracts with top executives.It will also be able to scrutinise the BBC’s contracts with other companies, to ensure the licence-fee payer is getting value for money.Currently, the NAO is only allowed to carry out value-for-money studies if invited by the BBC?Trust, the corporation’s governing body.However, the BBC does not have to hand over details of its star’s salaries. Director general Mark Thompson was only willing to do so if the NAO signed a confidentiality agreement, which it refused to do. The announcement was made by Liberal Democrat culture spokesperson Don Foster at the party’s conference in Liverpool yesterday. center_img Tags: NULL Share Show Comments ▼ KCS-content THE BBC has agreed to give the public spending watchdog complete access to its books for the first time.last_img read more

first_imgBut social security secretary Iain Duncan Smith denied claims that 200,000 people would lose their Employment Support Allowance as part of the cuts. IFS: families hit hardest by Osborne THE tax and benefit changes in George Osborne’s spending review will hurt families with children the most, the Institute for Fiscal Studies (IFS) said yesterday. In a presentation on the distributional effects of tax and benefit changes, IFS analyst James Browne said: “Overall, families with children seem to be the biggest losers.”The independent think-tank also disputed two of the government’s central claims: that the spending review was “progressive” – i.e. that it hit the rich harder than the poor – and that the departmental spending cuts were softer than Labour’s would have been. Carl Emmerson, the IFS acting director, said: “The tax and benefit changes are regressive rather than progressive across most of the income distribution. With the notable exception of the richest two per cent, the tax and benefit components of the fiscal consolidation are, overall, being implemented in a regressive way.”He added that while the coalition would make cuts of around 19 per cent in real-terms in unprotected departments, Labour’s March 2010 Budget implied lower cuts of 16 per cent. The Labour party seized on the IFS findings, and said the chancellor’s claim to “fairness” was unravelling.“At home, families will shoulder a huge burden, with cuts in child tax credit, child benefit and the child trust fund,” said Andy Burnham, shadow education secretary. whatsapp Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Thursday 21 October 2010 9:10 pm Tags: NULL 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 AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald whatsapp Show Comments ▼ KCS-content Sharelast_img read more

first_img Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky 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 Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp KCS-content THE new homes market continued to outperform the general market in September despite an increase of almost 300 per cent in the number of homes coming to market, a study showed.The average price of a new home increased 1.3 per cent to £222,561, whereas figures from mortgage provider Halifax indicated that general market prices fell 3.6 per cent, according to property website SmartNewHomes.com.Marketing director Steve Lees said the government’s spending review this week shed little light on how ministers planned to meet their commitment to increasing the housing supply.He said the supply of mortgages for would-be buyers was an equally pressing issue and the government should be prepared to address it.“The Financial Services Authority (FSA) is currently considering the regulatory framework of the mortgage market with a view to making it more sustainable; the housebuilding community is very anxious that the regulator does not replace the excessive lending of previous years with an overly risk-averse system,” Lees said.“According to the Home Builders’ Federation, around 85 per cent of developers considered mortgage availability to be a constraint on demand.“At the moment it is the housebuilders who have stepped in to ‘finance’ the market with their own tailor-made mortgage deals and shared equity schemes, with only a handful of mainstream lenders willing to offer mortgages on new-build homes.“This situation is not sustainable, and the government needs to demonstrate some joined-up thinking.” Tags: NULL Share New homes attract stronger valuations Show Comments ▼ Sunday 24 October 2010 10:38 pm whatsapplast_img read more

first_img 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 ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily ProofHomemade Tomato Soup: Delicious Recipes Worth CookingFamily Proof Copper prices jump to new record high KCS-content Share Show Comments ▼ center_img Copper futures rose to record levels on the first day of the year’s trading, yesterday.Prices rallied to almost $4.50 (£2.90) a pound on the Comex in New York. Last year saw a 33 per cent increase in copper prices, including a 16 per cent jump last month.Continued demand from China is partly causing the rise, analysts said. And the rise is a positive sign according to Matthew Zeman of LaSalle Futures Group. “People are getting the message that the global recovery is gathering steam. Supply is not going to keep up with demand. China will be back in the market for additional copper,” he said.Some analysts expect global shortfalls in the coming year. whatsapp Monday 3 January 2011 11:13 pm Tags: NULL 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 AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definitionlast_img read more

first_img KCS-content Tags: NULL whatsapp Switzerland’s economy is still in robust shape despite an unprecedentedly strong Swiss franc that is a big burden for some sectors, Swiss National Bank chairman Philipp Hildebrand said yesterday. “The indicators point to an overall still lively economic activity in our country,” Hildebrand said. Share Show Comments ▼center_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 PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 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 Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com Thursday 20 January 2011 8:41 pm Swiss National Bank still bullish 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 ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Prooflast_img read more

first_img Fears over turmoil in Egypt weigh on FTSE as banks fall WORRIES over the impact of the political unrest in Egypt saw Britain’s top share index fall yesterday, but losses were limited by gains from heavyweight energy issues as the crude price firmed.At the close, the FTSE 100 index was 18.43 points, or 0.3 per cent lower, at 5,862.94, having shed 1.4 per cent on Friday when worries over the situation in Egypt intensified.“Unsurprisingly, the situation has hit travel firms hard, with both TUI Travel (-2.69 per cent) and International Airlines Group (-2.30 per cent) among today’s losers. Right now December’s rally seems to be a distant memory and market confidence is fragile. While the situation in Egypt has taken attention away from the Eurozone crisis, we shouldn’t forget that this is still out there, with figures released today showing Eurozone inflation in January has jumped more than the ECB’s initial forecast, giving rise to speculation that the ECB will have to raise interest rates sooner than later,” said Will Hedden, sales trader at IG Index.Protesters further stepped up their campaign yesterday to force Egypt’s President Hosni Mubarak to quit as world leaders struggled to find a solution to a crisis that has set a fire under the Middle East’s political map.Travel firms were big fallers, with traders citing worries over the disruption caused by the protests in Egypt and the impact of a strong crude price. Tour operator TUI Travel shed 2.6 per cent, with mid cap peer Thomas Cook down 3.1 per cent, and International Consolidated Airlines Group losing 1.8 per cent.Risk-sensitive banks were a drag on the blue chips as investors remained nervous about the global picture, with RBS falling.BG Group rallied after sharp falls on Friday as it said it has suspended drilling in Egypt but gas production remained normal.Traders highlighted the greater impact of BG’s recent new oil discovery in the Santos Basin, offshore Brazil.“BG Group remains a dark horse among leading FTSE 100 oil & gas explorers even though the ongoing exploration developments in the massive Santos Basin should be uppermost on trader’s radar,” said Andrew Gibson, head of research at Galvan.“Rising tensions in Egypt set the tone for the FTSE as an early drift lower saw the UK index slide over one per cent. Investors seemed spooked by the scale of the protests and the increasing uncertainty over the leadership in Egypt,” said Giles Watts, head of equities at City Index speaking yesterday.But BP bucked the firmer oil sector trend, shedding 0.4 per cent, ahead of its fourth-quarter results due today.There were concerns over BP’s dividend, as Russian shareholders in its TNK joint venture convened to consider withholding the $1.8bn payment.Miners rallied led by Xstrata, up 2.2 per cent, excited by merger activity among US coal miners.Massey Energy agreed to a $7bn takeover offer from Alpha Natural Resources.US blue chips were 0.2 per cent higher by London’s close as merger activity, and solid earnings from Exxon Mobil, helped offset concerns about the unrest in Egypt.Among individual gainers in London, Rexam added 2.1 per cent after the can maker signed a contract in North America and a long-term deal with its largest customer in Brazil. KCS-content Tags: NULL Share Show Comments ▼ More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.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.orgcenter_img Monday 31 January 2011 7:52 pm 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 FollowAlphaCuteMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryDefinitionDesi 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 whatsapp whatsapplast_img read more

first_img Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautRicky 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The 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 Show Comments ▼ 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 AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com House sales rise in February House prices rose unexpectedly in February after a small fall at the start of the year, according to figures from the Nationwide. Prices climbed by a seasonally adjusted 0.3 per cent month-on-month, defying economists’ forecasts for a fall of 0.3 per cent following January’s 0.1 per cent drop.The annual rate of house price inflation slipped by 0.1 per cent in February, much less than the revised 1.4 percent drop seen in January. That took the average house price to £161,183.“The overall picture is one of a market treading water,” said Robert Gardner, Nationwide’s chief economist. “Given that the recovery hit a soft patch at the turn of the year and looks set to remain sluggish in the year ahead, the property market is likely to follow suit.”Doubts about the strength of the economic recovery after a shock contraction at the end of last year are likely to deter some buyers in the coming months and keep transaction levels low, he added.However, the market will gain some support from low interest rates and a lack of supply, Nationwide said.“Sellers remain reluctant to accept lower prices to secure a sale,” Gardner said. “There are tentative signs that the volume of homes coming onto the market is slowing.”Most economists expect house prices to fall gradually through the rest of the year as public spending cuts, tax rises and tight mortgage lending deter new buyers Tuesday 1 March 2011 3:40 am whatsappcenter_img whatsapp John Dunne Share Tags: NULLlast_img read more

first_img THE UK’s 100 largest companies accounted for 11.9 per cent of the Treasury’s total tax receipts last year, a survey by PricewaterhouseCoopers has revealed, equal to total payments of £56.8bn.Two thirds of the taxes collected were paid by just a third of the top 100 companies, with oil and gas producers, banks, insurance firms and retailers making the biggest contributions.The £56.8bn figure includes all taxes the companies handed over to the state, mostly made up of corporation tax, VAT, national insurance, business rates and income tax paid on behalf of employees. The survey shows that companies’ total tax rate on earnings, at 51.8 per cent, has remained higher than the pre-crisis norm so that for the second year running, Britain’s biggest firms saw more than half of their profits taken by the taxman. Corporation tax is still the biggest burden, despite dropping off as profits have suffered since the crisis. Over a third of the tax paid by the companies surveyed was in corporation tax: this is down from 2009 when it accounted for 44 per cent of taxes paid, but still much higher than in all other previous surveys. And despite the drop in corporation tax receipts, PwC says that the overall tax burden has increased since 2008 because “unlike corporation tax, payments of other taxes borne do not fall with declining profitability and thus become relatively more expensive”.The research also highlights that the country’s largest 100 companies paid 12.1 per cent of the Treasury’s total VAT?receipts, or £8.5bn, and employ 6.1 per cent of the UK’s workforce, for which they hand over £16.6bn in employment taxes (national insurance and employees’ income tax combined).The findings coincide with a report released today by the Oxford University Centre for Business Taxation showing that the UK’s biggest one per cent of companies pay 81 per cent of the country’s corporation tax. The research also reveals that the UK’s relatively low corporation tax is an aid to Treasury revenues: “The UK was able to collect higher revenues on average than other G7 countries despite having a significantly lower tax rate,” it says. Show Comments ▼ KCS-content £56,800,000,000: The amount of tax paid by the UK’s 100 biggest companies last year Tuesday 1 March 2011 9:20 pm 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.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.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comcenter_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 TimesBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition Tags: NULLlast_img read more

first_imgThursday 3 March 2011 8:06 pm KCS-content whatsapp Show Comments ▼ Kwik-Fit unit to make £192m Share 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’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 WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap EUROPEAN private equity firm PAI Partners is expected to make £192m from its sale of Kwik-Fit to Japanese conglomerate ITOCHU, a deal first revealed by City A.M. on Wednesday (see right).PAI, which was being advised by Morgan Stanley and Credit Suisse, signed off on a £637m sale of Britain’s biggest tyre retailer to ITOCHU on Tuesday, including £457m of debt. ITOCHU was being advised by Nomura.PAI originally bought Kwik-Fit from rival private equity firm CVC Capital Partners in 2005, when it paid £800m. But the sell-off of separate entities within the retailer since then make the venture a profitable one.Shortly after buying the auto shop chain, PAI sold off its stores and re-leased them in order to refinance its original purchase. It then sold off Kwik-Fit’s insurance business last year for £215m, before selling the last part of the retailer this week.PAI declined to comment. whatsapp Tags: NULLlast_img read more