BarCap to cut hundreds of jobs in an effort to cut costs

first_imgThe investment banking arm was responsible for around 87 per cent of Barclay’s total earnings last year, with Bob Diamond’s team raking in a £3.4bn quarterly pre-tax profit. However, certain measures of BarCap revenue were down 38 per cent in the last three months, prompting drastic action from the group. Further, the wage bill for the group reached £5bn in the year, gaining £1bn in the last year that was mostly spent within BarCap as it expanded. Diamond said after the company’s results announcement last week that BarCap’s total headcount will end up higher by the end of 2010. BarCap declined to comment on the redundancies last night. whatsapp whatsapp BarCap to cut hundreds of jobs in an effort to cut costs Share Show Comments ▼center_img Tuesday 10 August 2010 9:00 pm KCS-content BARCLAYS Capital is expected to announce hundreds of redundancies as early as today, affecting back office staff across the firm’s global operations. It is understood the layoffs are intended to cut costs to compensate for a sharp fall in market activity in the second quarter. More From Our Partners Police 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.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.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.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.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com Tags: NULLlast_img read more

CITY VIEWS: WHAT DO YOU THINK ABOUT THE TUBE STRIKE?

first_img JOHN CRIDLAND | CBI“It is disappointing that the RMT and TSSA have decided to go ahead with this strike, which will disrupt London at work. It will cause misery and disruption to the general public and to employers.”COLIN STANBRIDGE | LCCI“Londoners will still struggle in to work, aided by the additional transport laid on by the mayor. However, the world’s leading business centre will suffer.”PHILIP HAMMOND | TRANSPORT SECRETARY“A tube strike would be bad for passengers, bad for business and bad for London. At a time when public finances are under pressure any strike by tube workers will be seriously damaging – undermining the case we are making within the spending review for continued investment in the Tube.” More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.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.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org whatsapp CITY VIEWS: WHAT DO YOU THINK ABOUT THE TUBE STRIKE? KCS-content Share whatsapp Monday 6 September 2010 8:38 pm Show Comments ▼ Tags: NULLlast_img read more

Anglo Irish to be split into two

first_imgWednesday 8 September 2010 7:49 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia KCS-content IRELAND’S government outlined a compromise solution for winding down troubled Anglo Irish Bank yesterday but failed to put either a price or a timeline on its plan.Yielding to political pressure, finance minister Brian Lenihan ditched Anglo Irish’s own plan to carve a functioning niche lender out of what is left of the nationalised bank when it transfers €36bn (£30bn) in property loans to Ireland’s state run bad bank.Instead, Anglo’s remaining loans will be housed in an asset recovery bank, where they will be worked out over a period of time while its deposits will be put into a government-backed deposit bank which will not engage in any lending.The news means Anglo will effectively cease to be a force in the City. Although the Financial Services Watchdog said UK depositors’ money would be regulated as in any other bank, Anglo will stop new business lending in the region,The capital cost of the plan — the final bill which investors have been seeking — will be known in October when the central bank announces the units’ capital requirements.The prospect of a final price being put on the cost of bailing out Anglo, which has saddled Ireland with the worst budget deficit in the European Union, gave some relief to Irish debt spreads but analysts said overall the lack of detail was disappointing.“We’re still none the wiser really. Okay, it tells you the route they’re going, but I don’t think it gives you any clarity on the amount of money it’s going to cost the exchequer which is what the market is worried about,” said Alan McQaid, chief economist at Bloxham Stockbrokers. The spread on Irish 10-year bonds fell slightly. whatsapp Sharecenter_img Show Comments ▼ Anglo Irish to be split into two whatsapp More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPuffer fish snaps a selfie with lucky divernypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.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.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com Tags: NULLlast_img read more

HMV sales plunge by 10pc in World Cup blow

first_img John Dunne Share HMV sales plunge by 10pc in World Cup blow whatsapp Music, books and games retailer HMV Group reported a 10.6 per cent fall in sales for the first quarter as the World Cup distracted customers from DVDs and books.The group, which is trying to widen its product mix with live music and ticketing, said it was pinning its hopes on a successful Christmas period.“These initiatives, combined with a stronger product line-up, particularly in games, are key to the delivery of a successful Christmas,” Chief Executive Simon Fox said in a statement.HMV added it was making progress in turning around its Waterstone’s bookstores, with improved market share performance and an improving trend in sales growth.However, consumer confidence in the UK remains fragile.Earlier this week department stores group Debenhams said it was cutting prices earlier this week in a bid to attract wary shoppers. HMV also announced the departure of Finance Director Neil Bright, who will take up the role at leisure and travel group Holidaybreak. More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.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.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Show Comments ▼center_img whatsapp Thursday 9 September 2010 3:22 am by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy Fan Tags: NULLlast_img read more

Amagerbanken raises £99m to secure lifeline

first_img whatsapp Share Tags: NULL Show Comments ▼ Amagerbanken raises £99m to secure lifeline KCS-content center_img SMALL Danish bank Amagerbanken has raised 898m Danish crowns (£99.3m) in a fully subscribed rights issue of new shares, fulfilling a tough condition for a government lifeline.In June, Denmark told struggling Amagerbanken to raise 750m crowns by 15 September to qualify for a guarantee for a $2.3bn bond issue carried out in July.Amagerbanken itself and analysts had said it would be difficult to raise the money in time.Amagerbanken shares, which soared to a 10-month-high on 6 September when its main owner Karsten Ree, who has a 33.3 per cent stake, said he would take part in the rights issue, recovered some of its earlier losses on the day to close six per cent down at 6.45 crowns.“It is expected that registration of the capital increase with the Danish Commerce and Companies Agency will be effected on 14 September 2010, and the first day of trading for the new shares is expected to be on 15 September,” Amagerbanken said. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’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 ProofTortilla Mango Cups: Recipes Worth CookingFamily 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 ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof Thursday 9 September 2010 8:06 pm whatsapplast_img read more

Two cheers for Basel banking rules

first_imgSunday 12 September 2010 11:38 pm Two cheers for Basel banking rules Share HAD the financial system held more capital two years ago, the world today would look very different. Most big firms would have coped; there may even have been no bailouts. It had become the received wisdom among regulators, firms and academics – all users of fancy models – that banks could operate on razor thin-reserves; how wrong they were. So the “Basel III” reforms make sense, in part at least. Banks will have to hold high-quality capital — “core Tier 1 capital,” equity or retained earnings — equivalent to 7 per cent of risk-bearing assets. Banks will have five to nine years to implement this. They will also have to take greater account and put cash aside against credit exposures, which is good.Liquidity rules are being introduced – though it remains to be seen whether holding government bonds and “high quality” corporates is a panacea in an era of faulty credit ratings and sovereign crises. And one proposal floated yesterday makes no sense: the idea that an extra 2.5 per cent would have to be put aside at the height of a boom to help counter the cycle – the twenty or so countries signing up to Basel will never be able to agree when to act. And what if everybody gets it wrong together? More work is still needed.ON EGGS AND BASKETSSHAKESPEARE, the Talmud, the Bible and modern mathematical financial theory have one thing in common: they all advocate the benefits of diversification. The Merchant of Venice put it best in 1596:My ventures are not in one bottom trusted, Nor to one place; nor is my whole estateUpon the fortune of this present year: Therefore, my merchandise makes me not sad.Not putting all of one’s eggs in one basket is the central tenet of prudent financial management – it inspired strategies pursued successfully in recent years by hedge funds and other investors, as well as many of the analytical models used to gauge risk.The trouble is that diversification only works if assets perform differently: for example, if UK housing does badly when Asian stocks do well or if gold tends to rise in value when the FTSE goes down. But when everything starts to move in lock-step – and all assets fall and rise at the same time – then we are in trouble. Returns collapse and panic sets in – remember, at the height of the credit crunch, when even cash in bank accounts suddenly seemed extremely risky?Correlations between asset classes are on a long term upward trend which reflects the internationalisation of financial markets and improvements in information technology, an excellent analysis from HSBC’s foreign exchange team confirms. There is little chance that correlations will fall back to the levels of the mid-2000s. Correlations tend to go up during crises – and they really shot up this time around – and tend to go down when growth is stronger, but the trend is nevertheless upwards. In the past, high correlations were associated with intense volatility; but correlations have stayed high in recent months despite lower volatility. Eventually, when economies recover, different countries will begin to pursue different policies at different times and assets will no longer be as correlated as they have been over the past couple of years. There will be no going back to the good old days, however – we are all going to have adjust to the more limited power of [email protected] whatsappcenter_img KCS-content Show Comments ▼ whatsapp Tags: NULLlast_img read more

iPad chemical firm plans to float in London

first_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 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.comPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Today AZ Electronic Materials is planning to list in London, the Financial Times reports this morning. The chemical company that provides materials for flat panel displays such as the iPad could be one of the biggest flotations in the City this year. AZ is owned by private equity groups Carlyle and Vestar Capital Partners, and makes 70 per cent of its revenues in Asia, the base for many techonology manufacturers. The firm’s finance director is based in London, and the owners hope to tap into a glut of City investors with knowledge of specialty chemicals.UBS, Goldman Sachs and Deutsche Bank are said to be managing the initial public offering. AZ Electronic could not be reached for comment last night. More From Our Partners Killer 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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI 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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com iPad chemical firm plans to float in London whatsapp KCS-content Show Comments ▼center_img whatsapp Share Tags: NULL Thursday 30 September 2010 11:12 pmlast_img read more

Paul to open 50 shops in capital

first_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 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 FollowAlphaCuteBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For Life Paul to open 50 shops in capital Monday 15 November 2010 8:06 pm Tags: NULL whatsapp Show Comments ▼ Sharecenter_img French bakery Paul will open 50 shops in London over the next four years, creating 1,000 jobs. The chain, which sells bread, pastries and sandwiches, revealed the plans as it appointed a new chief executive to its British arm, James Fleming. The first of its new stores will open within six weeks as Paul looks to build on its 23-strong chain before the end of 2014. The company said it would recruit across the board from service staff to shop managers, bakers and drivers. Fleming joined Paul as managing director in April from Pizza Express. He will replace outgoing chief executive David Belhassen. He said: “I have thoroughly enjoyed my time at Paul so far and I’m looking forward to driving the UK business through these exciting times.” KCS-content whatsapp More From Our Partners UK teen died on school trip after teachers allegedly refused her pleasnypost.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.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.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.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comlast_img read more

Nighthawk closes projects

first_img whatsapp Show Comments ▼ Share Monday 29 November 2010 7:38 pm Oil explorer Nighthawk Energy said it would focus on its Jolly Ranch prospect in Colorado and exit all other current projects yesterday, sending its shares down 23 per cent. The US-focused energy company also said yesterday that it had stopped looking for a farm-in partner for a part of the Jolly Ranch project. Writedowns from exiting the non-core assets including the Cisco Springs project in Utah will be around $65m (£41.8m), the firm said. KCS-content Tags: NULL Nighthawk closes projects whatsapp Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautHiking 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 Prooflast_img read more

CVC picks Nine float advisers

first_img PRIVATE equity firm CVC has appointed Credit Suisse, Goldman Sachs and UBS to advise on the possible initial public offering (IPO) of television network Nine Entertainment, in a deal that could be worth $5bn (£3.2bn).If a float proceeds, it could be the biggest in Australia since the nearly A$10bn IPO of Telstra Corp in 1997 and would exceed last year’s $4bn float of rail-freight firm QR National.No final decision has been made on whether to float Nine, which owns the Nine Network, Australia’s largest magazine publisher ACP, and a 50 per cent stake in website carsales.com, said a market source.“They are doing the hard yards so if and when they do decide to go, then the work has been done. It doesn’t mean a date has been set,” the source added.CVC and UBS declined to comment. Credit Suisse did not return a call for comment, while Goldman Sachs could not immediately be reached.Last month, executives from Nine Entertainment met with Australian fund managers to talk up the group’s earnings prospects, a move seen by investors as the first step towards an IPO.The climate for IPOs has improved recently following the successful float of QR National, which rose more than 10 per cent above its 22 November listing price and is currently 4.7 per cent higher.A float of Nine, which could come as early as April, would be the biggest private-equity float since TPG sold out of retailer Myer in late 2009. CVC picks Nine float advisers whatsapp KCS-content Tuesday 11 January 2011 7:23 pm Show Comments ▼ 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 AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsMartha Stewart CBDShop Martha Stewart’s CBD Products NowMartha Stewart CBDReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter Centercenter_img Share Tags: NULL More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.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.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapplast_img read more