Dean Wetteland, managing director of the Norse Group. Picture: Norse Commercial Services Norse Commercial Services Norse has revealed it has lost in excess of £2m in the last financial year, having suffered a “very difficult” twelve months. Despite making near £280m for the financial year to March 2018, the group lost £2.08m according to recently filed company accounts, driven predominantly by a downturn in its environmental waste sector, as well as a dispute over an overrun project with Haringey Council.The group saw staffing costs soar having paid compensation to a director for “loss of office” totalling £161,000, as well as paying off the individual’s final pension sum of £179,000 – both before tax.The group’s strategic report reveals it has seen a “major downturn in the market for recycled paper”, and has processed an increased amount of tonnage despite turnover remaining the same as the year before. … [Read more...] about Norse reports losses of £2m and director payout of £336,000
Most FX analysts expect a mild weakening of the VND in the face of powerful global negative effects Photo: Ngoc Thang As markets rung in their first trading week of 2019, brokerage houses in Vietnam and the region have released forecasts for the Vietnamese currency. Most reports were positive about the VND, which only lost 2.6 per cent of its value against the USD in 2018 and was highlighted as one of the few resilient currencies in the region. The general consensus among analysts is that the VND will not depreciate more than 5 per cent this year. The biggest reason for the VND’s stability, according to researchers, is a milder USD in 2019. Following three years of multiple hikes, the US Federal Reserve (Fed) has signalled a less aggressive tone this year, as the US economy is growing slower than expected. At least two rate increases are in store for 2019, and analysts believed that the US central bank will reduce the frequency of hikes. Similar to other ASEAN currencies, the … [Read more...] about VND expected to remain stable in strenuous year
MANILA - Former Davao City Vice Mayor Paolo Duterte is seeking the cancellation of the bail granted to opposition Senator Antonio Trillanes IV. This comes after a Davao City court handling libel cases the President's son filed against Trillanes granted bail to the lawmaker in December last year. Trillanes, a staunch administration critic, posted a P96,000 bail at a Pasay City court for the libel cases. It also subsequently lifted the warrants of arrest against the lawmaker and issued a certificate of voluntary surrender. Trillanes posts bail, evades arrest for libel State prosecutors have, meanwhile, adopted a motion that Duterte filed calling for Trillanes' arrest for libel because he left the country in December last year without securing permission from the Davao Regional Trial Court. Prosecutors alleged that Trillanes "repudiated" his own bail by not seeking the Davao court's permission. "Evidently guilty of flight, accused has flagrantly violated the conditions of his bail … [Read more...] about Paolo Duterte seeks cancellation of Trillanes bail
Elana Schor and Thomas Beaumont, Associated Press Updated 9:38 pm PST, Wednesday, January 16, 2019 FILE - In this Jan. 5, 2019, file photo, Sen. Elizabeth Warren, D-Mass, waves to the crowd during an organizing event at Curate event space in Des Moines, Iowa. Some of the Democrats considering running for president in 2020 say they plan to ignore personal needling from President Donald Trump. less FILE - In this Jan. 5, 2019, file photo, Sen. Elizabeth Warren, D-Mass, waves to the crowd during an organizing event at Curate event space in Des Moines, Iowa. Some of the Democrats considering running for ... more Photo: Matthew Putney, AP Photo: Matthew Putney, AP Image 1 of / 1 Caption Close Image 1 of 1 FILE - In this Jan. 5, 2019, file photo, Sen. Elizabeth Warren, D-Mass, waves … [Read more...] about 2020 Democrats face a choice: Fight Trump or ignore him?
BEIJING (Reuters) - China’s economy is expected to cool further this year as domestic demand weakens and exports are hit by U.S. tariffs, a Reuters poll showed on Thursday, reinforcing views Beijing will need to roll out more stimulus measures. Workers unload containers from a train at Dahongmen Railway Station in Beijing, China January 14, 2019. Picture taken January 14, 2019. China Daily via REUTERS The world’s second-largest economy got off to a strong start in 2018, but pressure soon built as a crackdown on riskier lending pushed up borrowing costs and made it harder for smaller companies to get funding, spurring record bond defaults. At the same time, the escalating dispute with the United States saw both sides slap tariffs on each other’s goods, disrupting China’s trade sector and weighing on Chinese business and consumer confidence. Slowing demand global is heightening those export pressures. China’s economic growth is … [Read more...] about China’s growth set to slow to 6.3 percent in 2019, more stimulus…