Tag Archives: City

City set for surge in finance bonuses: study

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City set for surge in finance bonuses: study

LONDON (AFP) – The finance sector is set to pay out six billion pounds in bonuses this year as banks return to profit less than a year after the near collapse of the financial system, according to researchers.

The Centre for Economics and Business Research (CEBR) predicted a 50 percent leap in bonuses compared to January, from four billion to six billion pounds.

“Banks profits have risen very sharply this year, reflecting a lack of competition in the market,” said CEBR chief executive Douglas McWilliams.

“It is not surprising that the increase in bonuses has matched these higher levels of profitability.”

The CEBR said however that it would still be at least five years before bonuses in the financial sector return to their levels before the crisis erupted last year. It said 10.2 billion pounds were paid out in 2007.

The US banking industry posted landmark profits last week, prompting concern that banks will return to paying staff huge bonuses, a practice blamed for encouraging excessive risk-taking that exacerbated the global downturn.

G20 world leaders pledged in September to end “practices that lead to excessive risk-taking”.

But McWilliams said any attempt to curb bonuses was “likely to be either unsuccessful or very damaging” unless it addressed the lack of competition that followed the collapse or merging of several banks due to the global crisis.

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Most Tragic Acts of Terrorism in History – 2006 Sadr City Bombings: Iraq

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Most Tragic Acts of Terrorism in History – 2006 Sadr City Bombings: Iraq

The 2006 Sadr City bombings in Baghdad, Iraq is one of the most tragic terrorist attacks in the city. The bombings were a series of car bombs and mortar attacks in Iraq that began on November 23.

Six car bombs and two mortar rounds were used in the attack on the Shi’ite Muslim slum in Sadr City. The attacks killed at least 215 people and injured 257 others, making it the second deadliest sectarian attack since the beginning of the Iraq War in 2003.

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Most Tragic Acts of Terrorism in History – Oklahoma City Bombing: USA

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Most Tragic Acts of Terrorism in History – Oklahoma City Bombing: USA

The United States of America have suffered numerous terrorist attacks in and outside her territory. One of the most tragic attack is the Oklahoma City bombing.

It was a domestic terrorist attack on April 19, 1995 aimed at the US government in which the Alfred P. Murrah Federal Building, an office complex in downtown Oklahoma City, was bombed.

The attack claimed 168 lives and left over 800 people injured. Until the 911 attacks, it was the deadliest act of terrorism on U.S. soil.

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