first_imgSunday 19 September 2010 10:18 pm Tags: NULL City hiring market gets summer surge Share whatsapp Show Comments ▼ whatsappcenter_img KCS-content CITY recruitment underwent a laesummer surge in August, according to research from financial services recruitment firm Astbury Martin.The company said the number of new City job vacancies created in August jumped 5,031, up seven per cent from July’s 4,713.The figure was also up 21 per cent on the number of new City jobs created in August of 2009, at the start of the recent boom in City hiring. Significantly, fund managers, which usually start to recruit later in a market recovery than either capital markets or corporate finance teams, were also now beginning to create new positions, suggesting they had more confidence in the global economic recovery than previously.Mark Cameron, chief operating officer at Astbury Marsden, said investment banks had taken a mid-summer pause to reshape some of their teams but were now hiring again.He said: “Institutions have to fight a lot harder to get the staff they want compared to a year ago and employees are fairly certain to get at least a 15 per cent pay rise in exchange for the risk of moving employer.”“Whilst the IPO pipeline has been much weaker than many institutions had hoped, the debt markets have remained very active right from sovereign bonds through to high yield debt.”Stephan Williams, director of City recruitment firm Empiric Solutions backed up the findings, saying: “There has definitely been an increase in confidence and in the speed with which candidates are being snapped up. September, October and November tend to be strong months anyway but there has also definitely been an upturn in the volume of jobs on offer.” 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 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 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 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 PastBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farminvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld Lifestylelast_img read more

first_img whatsapp Minerva back in black after values soar Tags: NULL whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Sharecenter_img KCS-content MINERVA, London’s second largest property developer, has swung back into profit following a difficult year in which it fought off a take-over attempt by its largest shareholder.The company – which recently completed its iconic Walbrook development opposite Cannon Street – announced profit after tax of £69.1m for the year to 30 June, a massive turnaround from the £287.1m loss it made last year. It said the reason for the change in fortunes was due to an improvement in the valuation of its real estate portfolio. Its net asset value (NAV) – a key measure of a property developer’s success – jumped to 132p by the end of June, up 29 per cent on December’s 102p. Last month shareholders rejectd an attempt by KiFin, Minerva’s largest shareholder, to remove chairman Oliver Whitehead and chief executive Salmaan Hasan over a perceived lack of direction. KiFin, which is the investment vehicle of South African billionaire Natie Kirsh, took a 29.5 per cent stake in Minerva in November 2008 and attempted a takeover of the property firm that valued it at 50p a share. That was rejected by shareholders as undervaluing the company. Whitehead said despite the extreme challenges brought on by the credit crunch and the dispute with KiFin, the company had successfully achieved a number of important milestones. These included a comprehensive refinancing of the group’s loan facilities, the sale of its Wigmore Street building for £40.75m, pre-letting 45 per cent of the total office space at its St Botolph Building and achieving pre-sales of £230m at its Lancaster Gate apartment complex. 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 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 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 Show Comments ▼ Tuesday 21 September 2010 8:01 pmlast_img read more

first_img Europe’s biggest bank HSBC said profits so far this year were “well ahead” of 2009 levels with losses on bad loans hurting less than at any point since the onset of the credit crisis in 2007.HSBC , which named a new chairman and chief executive six weeks ago after a damaging boardroom power struggle, said loan impairments in the third quarter fell to their lowest quarterly level since early 2007.However, chief executive Michael Geoghegan warned of new UK and European regulation for the banking sector.To avoid unintended consequences it was “very important to maintain a level playing field globally,” he said.“It is… of some concern that the EU and UK appear to be going further than others in contemplating measures which would have a wider global impact,” he said.He warned of “regulatory arbitrage”, a term used to describe financial services companies moving their operations to countries with the most favourable banking regimes.“In the UK, a levy on the global balance sheets of UK-headquartered banks effectively places a tax on their emerging growth.”Trading revenues for Global Banking and Markets (GBM), its investment banking arm, were lower in the latest quarter than a year ago, but remained high by historical standards, the bank said, noting seasonal factors and more subdued market sentiment.GBM made a first-half profit of £3.4bn, its second best half ever. John Dunne Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Show Comments ▼ HSBC profit on the climb but warns over regulation center_img whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Friday 5 November 2010 5:55 am Tags: NULLlast_img read more

first_img GEORGE Osborne’s decision to hike VAT will shave 0.3 per cent off GDP in 2011-12, the official independent forecaster said yesterday. The chancellor will increase the sales tax from 17.5 per cent to 20 per cent in the New Year, as he seeks to pay down the largest deficit in Britain’s peacetime history. Yesterday, the Office of Budget Responsibility (OBR) revealed the amount of damage it expected the tax hike to do to economic growth. “The interim OBR’s June 2010 Budget forecast assumed that the increase in the standard rate of VAT from 17.5 per cent to 20 per cent would reduce the level of real GDP in 2011-12 by around 0.3 per cent,” it said in a statement. Shadow chancellor Alan Johnson seized on the figures, claiming the hike would ultimately result in fewer jobs. He said: “David Cameron promised he wouldn’t raise VAT because it hits the poorest hardest. He broke that promise. “Now the independent OBR has told us the impact of Cameron’s very own jobs tax – slower growth and fewer jobs.”The OBR only publishes the assumptions behind its forecasts in response to a formal request. Yesterday, it refused to say who had asked for the information, although sources close to the Treasury insist it was the Labour party. Meanwhile, economists at the Adam Smith Institute called on the government to consider more spending cuts instead of the VAT rise, which they said would do less damage to the economy. “The coalition should urgently consider making further spending cuts instead of raising VAT, which is going to hit every household in the country,” said Tom Clougherty, executive director of the Adam Smith Institute.The rise will come into force on 4 January 2011. Show Comments ▼ KCS-content Thursday 18 November 2010 8:31 pm whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrapcenter_img 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 PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity 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 HeraldWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com whatsapp Tags: NULL VAT rise will hurt growth, says the OBR last_img read more

first_imgMonday 3 January 2011 11:15 pm whatsapp Share whatsapp Tags: NULL More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.com KCS-content Analysts say FTSE could hit 7,000 in 2011 Show Comments ▼ ANALYSTS are predicting that the FTSE 100 could reach 7,000 points in the next year, with the record high likely to come sooner into 2011 rather than later. With 65 per cent of the FTSE’s revenue coming from overseas, it is in a strong position to gain from global economic growth, regardless of a more pessimistic outlook closer to home in the UK and Eurozone. “Despite headlines of doom and gloom the FTSE 100 is well placed to benefit,” predicted Justin Urquhart-Stewart, marketing director at Seven Investment Management. “There’s about a 40 per cent chance of a 10 per cent rise up to somewhere around 6,666 points,” he continued. “But there’s a 20 per cent chance of a gain up to a high of 7,000 points.” However, according to Urquhart-Stewart the gain is likely to happen earlier in 2011, with greater concern towards the end of the year about where the growth is coming from. Other analysts have also been bullish about the FTSE’s prospects for 2011, with Graham Secker of Morgan Stanley reported as predicting a rise to 7,000 points if economic growth is strong and interest rates remain low.The last time the index rose to close to 7,000 points was in 1999, when it peaked at 6,930.2 at the height of the dot com boom. In 2010 the FTSE just breached 6,000 points on 23 December, before dipping to close at 5996.07 – the highest level it had reached since pre-credit crisis trading in June 2008. Neil Shah of Edison Investment Research was more cautious about the FTSE’s prospects, with the company’s year-end prediction set at 6,400 points, an 8.5 per cent increase on the 2010 final figure of 5,899.94. But even the bearish commentators admitted the index could see bigger gains before a year-end fall. “It’s very possible that it could go higher at some point,” said Shah. “We think this will be a good year for the equity markets and there will be volatility before the year end.” Shah cited inflation as the biggest contributor to the predicted gain. “Equities tend to do well out of inflation, though it’s a delicate balance,” he said. “A little bit is good; too much is not.” last_img read more

first_img Share BELGIUM PROTESTS LACK OF GOVERNMENT by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailMisterStoryWoman 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 AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads Tens of thousands of Belgians took to the streets yesterday to shame political leaders who have failed to form a government more than seven months after an election and left the country at the mercy of financial markets. Organisers of the “Shame: no government, great country” protest said up to 50,000 people had joined the march through Brussels. Police put the figure at 34,000. whatsapp whatsappcenter_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily 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 Proof Tags: NULL Show Comments ▼ KCS-content Sunday 23 January 2011 10:54 pmlast_img read more

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily 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 ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof More Morocco success for Circle whatsapp Wednesday 26 January 2011 7:11 pm Oil and gas explorer Circle Oil said it made another gas discovery in its key Sebou Permit, marking its second successive discovery in Morocco this month. The company said it found gas in the deeper Main Hoot and the secondary Guebbas regions of the reservoir. Circle Oil shares closed up 1.9 per cent. Show Comments ▼ Tags: NULLcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailThe Sports DropForgotten College Basketball Stars: Where Are They Now?The Sports DropBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUpbeat NewsThese 25 Celebrities Ruined Their Career in a Matter of MinutesUpbeat NewsTaco RelishOnly People With An IQ Of 130 Can Name These ItemsTaco Relishautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldMoney VersedWoman Shares The 5 Words She Said That Left Her Boyfriend In AweMoney Versed whatsapp KCS-content Sharelast_img read more

first_img Share Thursday 3 February 2011 8:20 pm KCS-content ROYAL Dutch Shell disappointed markets yesterday despite posting fourth-quarter earnings of $5.7bn (£3.5bn).The firm made $18.6bn during 2010, an increase of 90 per cent on last year when the effects of inventory changes are stripped out. But Shell’s UK-listed shares closed down three per cent to £22 in trading yesterday, with analysts expressing concern over continued weakness in the refining business, where several major facilities have been down for long periods during the last two years. “Refining conditions…do remain overall very difficult,” said Shell’s chief financial officer Simon Henry. It plans to sell off several refineries this year.In the firm’s upstream business, Shell lost $260m after drilling was halted in the Gulf of Mexico last April, including a $70m charge “for the cost of the idled rigs, to keep those rigs warm, ready to drill”, according to Henry. Shell’s overall oil production in the last quarter of 2010 stood at 3.5m barrels of oil equivalent per day, up five per cent on a year ago. Shell aims to raise its oil and gas production by 11 per cent in the three years to 2012, including new drilling projects in the Gulf. The firm is set to spend $27bn on fresh exploration this year – slightly higher than last year’s expenditure. However, its plans to drill offshore in Alaska have been put on hold for this year, Henry told reporters yesterday, as the firm has not yet been granted an environmental permit. whatsapp whatsapp Show Comments ▼ Tags: NULL Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily 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 Refinery fears overshadow Shell’s results last_img read more

first_img More From Our Partners A 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.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org KCS-content Monday 28 February 2011 7:28 pm whatsapp British defence company Ultra Electronics posted a 15 per cent rise in annual profit and said military dependence on electronic systems gave it confidence despite government cuts. The company posted a full-year pretax profit of £102.7m compared with £89.5m the previous year. Sharecenter_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 PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySenior 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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical Genius Ultra Electronic posts 15pc rise Show Comments ▼ whatsapp Tags: NULLlast_img read more

first_img KCS-content US freezes over $30bn of Libyan assets Monday 28 February 2011 8:49 pm whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndo Share whatsapp EUROPE and the US yesterday added to sanctions against Libyan leader Colonel Gaddafi as the international community continued its drive to squeeze him out of power.The US has frozen $30bn of Libyan assets in the largest move of its type in history.The EU also approved a package of sanctions banning the sale of military equipment from Libya and freezing foreign assets owned by Gaddafi – which some sources say could be worth billions of euros.Brent crude futures for April delivery traded in London fell 42 cents a barrel yesterday to $111.72.But Bank of America Merrill Lynch warned of “substantial upside risks to Brent oil prices over the next few months”. It said if oil prices hold at their current levels for most of 2011, energy as a percentage of GDP will remain at near record levels.It added: “The price elasticity of global oil demand is very low… A 10 per cent increase in oil prices pushes down global oil demand by about 0.5 per cent.” Coupled with a reluctance by central banks to increase interest rates in the short term, any further disruption in oil supply could send oil proces rocketing well over the $120 a barrel mark.US secretary of state Hillary Clinton slammed Gaddafi yesterday, demanding the dictator steps down to avoid further conflict. She said: “We want him to leave and we want him to end his regime and call off the mercenaries and those troops that remain loyal to him.”In a speech to the United Nations Human Rights Council in Geneva, she said Gaddafi must be “held accountable” for the brutal treatment of pro-democracy protesters, which Clinton said “violates international legal obligations and common decency”. UK foreign secretary William Hague added that Libya had “failed shamefully in its responsibilities to its people”.TIME LINE | HOW TROUBLE HAS HIT OIL PRICES15 FebruaryThe resignation of president Hosni Mubarak in Egypt sparks protests in Benghazi, Libya’s second city.17 FebruaryBrent crude closes at $103.78 after trouble escalates in Libya. Protesters call for Gaddafi to step aside.21 FebruaryHundreds die in Libya in the most violent day of protests so far. Trouble spreads to Yemen, Tunisia, Morocco Kuwait and Algeria.23 FebruaryGaddafi vows to “die a martyr”, sending oil prices rocketing. Brent crude futures hit $106 a barrel as ports are closed. Saudi says it will meet any oil shortfalls.24 FebruaryOil jumps to $112 a barrel. A Nomura analyst says it could hit an unbelievable $220 a barrel if Algeria halts production. Saudi faces its own problems, with its King forced to offer $22bn in handouts to stave off protests.28 FebruaryOil price slips slightly to $111.72 a barrel, but trouble in Libya shows no sign of ending. Show Comments ▼ Tags: NULLlast_img read more