Lorik blog

BoE forecasts pave way to rate rise, King more cautious

LONDON (Reuters) – British inflation is just as likely to be above or below target in two years if interest rates rise as markets expect, the Bank of England said on Wednesday, opening the door to tighter monetary policy.

But BoE Governor Mervyn King insisted that no decision about when to raise rates had been taken.

"Some people are running ahead of themselves and saying that we are pre-announcing or laying the ground for a rate rise," King told a news conference. "That decision has not been taken and won't be taken until we get to the next meeting or the following meeting, or it may be many quarters."

The Bank's inflation report supported expectations the BoE will start hiking rates soon from a record low 0.5 percent, possibly as soon as May, given that inflation is double its 2 percent target and likely to climb further.

The central bank's February report showed consumer price inflation spiking up to between 4 and 5 percent in the middle of this year before falling back to around 1.7 percent in early 2013, a higher forecast profile than in November.

Rising price pressures have already prompted investors to bet on a series of UK rate hikes this year.

But having jumped on Tuesday after data showed UK inflation rose to 4 percent in January and King wrote a letter to the government saying price pressures could fall into line if rates rise as markets predict, the pound fell back after King began speaking.

"It looks as though markets may have over-interpreted King's line on inflation in yesterday's letter to the Chancellor," said Philip Shaw, economist at Investec. "The picture painted by the inflation report is balanced and emphasizes the uncertainties."

The Bank said its forecasts were based on the assumption that interest rates would rise to 1 percent by the end of this year, hitting 2.1 percent at the end of 2012.

"Our judgment is that along that market path of interest rates the risks to inflation in the medium term are broadly balanced around the target," King said.

But he stressed that the central bank was not in the business of endorsing market expectations.

DIFFERING VIEWS

King admitted there were sharply differing views on the Monetary Policy Council of interest rate setters.

"There remains a wider than usual range of views among Committee members over the outlook for inflation," he said.

Minutes to January's policy meeting showed two MPC members voted to raise rates that month, indicating a shift toward a more hawkish stance. The evidence from February's meeting will be published next week when the vote could have been even tighter.

The Monetary Policy Committee predicted a bumpy ride for the economy this year, with its 2011 forecasts for growth lower than those in its November quarterly forecasts, but it is seen picking up to around 3 percent in the medium term.

"Expansionary monetary policy, combined with further growth in global demand and the past deprecation of sterling should ensure that the recovery in the UK is maintained," the BoE said.

"But the continuing fiscal consolidation and squeeze on households' purchasing power are likely to act as a brake."

That economic uncertainty led some economists to believe that markets are too hasty in pricing in a May rate rise with sharp government spending cuts only beginning to bite.

"We still think a move as early as May is less likely than one in H211 as the Bank will be keen to assess, for example, what impact the aggressive fiscal retrenchment will have on activity before it tightens monetary policy," said Hetal Mehta at Daiwa Capital Markets. "On balance, we feel the first rate hike is most likely to come in August."

(Editing by Mike Peacock)

Idea Couture Launches M/I/S/C Magazine

Idea Couture launches M/I/S/C, a new magazine that boldly mixes business innovation, design thinking, and global culture

Toronto, ON and San Francisco, CA (PRWEB) February 16, 2011

The first issue of M/I/S/C, the edgy new magazine, published by Idea Couture, hits newsstands and bookstores worldwide at the beginning of March.M/I/S/C breaks new ground by bringing design thinking and innovation practices to a broad and global readership. Organized around four key concepts, Movement, Intuition, Structure, Complexity, M/I/S/C caters to a sophisticated and rapidly growing audience interested in the blurring boundaries between business and design.

M/I/S/C provides new perspectives on everything from strategic innovation to design thinking, to social innovation to behavioral economics. M/I/S/C blends the business insights of a Business Week and the innovation profiling of a Fast Company with the design-forward thinking of a Monocle and the global culture savvy of a Wallpaper.

The M/I/S/C launch issue includes articles that explore whitespace mapping, secret weapons of innovation, design thinking, and global art.The featured article looks to Steve Jobs’ life journey and offers the top 10 lessons for out-thinking your competitors, developing innovative products, and de-mystifying business school assumptions.

According to Publisher and Editor-in-Chief, Idris Mootee, “M/I/S/C is a multi-layered exploration of innovation, business strategy and design, fuelled by global creativity, connective-culture, and co-created meanings.” He says, “The goal of the magazine is to generate creative vibrations that take on a life of their own and ignite at least some small spark of creativity in design thinkers and business managers alike.”

Idea Couture, a strategic innovation and design firm, has assembled a talented editorial team under the creative leadership of Idris Mootee. Mootee is a world-renowned strategy and innovation expert as well as an influential business thought leader. Acclaimed author of High Intensity Marketing and The 60-Minute Brand Strategist, Mootee, CEO of Idea Couture, is also an avid photographer, designer, keynote speaker, and Fortune 500 strategy adviser.

M/I/S/C will be distributed globally in the US, UK, Canada and 18 other countries.

For more information visit-

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Ashley PerezIdea Couture647.827.0412 ext. 209Email Information

Cameroon hope Eto'o can match club form

JOHANNESBURG (AFP) – Cameroon captain Samuel Eto'o hopes he can transfer stunning club form to the national team on Wednesday when they play a friendly in Macedonia.

The Inter Milan striker has bagged 27 goals in all competitions this season for the reigning World, European and Italian champions, including a brace in a 5-3 weekend Serie A triumph over Roma.

And he will need all his predatory penalty-area instincts as Macedonia held England goalless at Wembley last year and are making a big push to appear at the Euro championship finals for the first time next year.

Cameroon legend Roger Milla has frequently criticised Eto'o, saying he does not replicate club form in Europe when he dons the green, red and yellow of the 'Indomitable Lions'.

Eto'o did score twice last August when Cameroon triumphed 3-0 in Poland -- the last time they played in Europe -- before mixed Africa Cup of Nations results with an easy win in Mauritius followed by a home draw with DR Congo.

Since succeeding Rigobert Song as skipper two years ago, Eto'o has failed to deliver with a timid 2010 Africa Cup of Nations quarter-finals exit followed by a disastrous World Cup campaign in South Africa.

The toothless 'Lions' lost to Japan, Denmark and the Netherlands and suffered the humiliation of being the first country eliminated from the quadrennial 32-nation tournament.

Fall-out from the World Cup debacle included goalkeeper Carls Kameni and midfielders Alex Song and Achille Emana being axed and Spanish coach Javier Clemente recently toured Europe trying to mend fences.

Kameni from Espanyol is in the Skopje squad, the future plans of Song from Arsenal remain unclear while Emana is still out in the cold despite denying that he accused Cameroon sports ministry officials of being "thieves".

Everton striker Victor Anichebe has been called up by Nigeria for a hastily arranged Lagos friendly against Sierra Leone after plans to play Guatemala in Miami fell through.

He steps in for injured Newcastle goal poacher Shola Ameobi and other English Premiership strikers in contention for starting places include Peter Odemwingie of West Bromwich and Victor Obinna of West Ham.

Former Nigeria star 'Jay Jay' Okocha slammed the 'Super Eagles' recently, claiming the two-time African champions were no longer among the leading national teams on the continent.

"Everything is wrong ... the footballers, the coaches and the management, and suporters of the 'Super Eagles' expect far too much," he said during a TV interview.

"Our footballers are overrated. I do not think we have more than five Nigerians who playing regularly in Europe. Is it any wonder they are now referred to as the 'Super Chickens'?"

There are 13 friendles involving African teams, including Morocco, South Africa and Zambia, who are preparing for Cup of Nations qualifiers in late March.

H.J. Baker & Bro., Inc. Makes Donations To Charities Across The Country

H.J. Baker Continues Its Tradition of Employee Driven Charitable Contributions

Westport, CT (PRWEB) February 2, 2011

H. J. Baker & Bro., Inc. announced it made donations to more than 70 non-profit organizations across the country at the request of its employees totaling $200,000.

H. J. Baker employees at their headquarters in Westport, Connecticut, and plant and operation locations throughout the country were asked to suggest local charities in their area that the company might make contributions to this year.As a result the following charities have received a contribution.

In Connecticut:American Heart Association -- CT Affiliate -- Wallingford, CTAmerican Red Cross -- mid-Fairfield County -- Bridgeport, CTAmeriCares Foundation -- Stamford, CTAspetuck Land Trust, Inc. -- Westport, CTDenison Pequot Sepos Nature Center -- Mystic, CTFood Bank of Lower Fairfield County, Inc. -- Stamford, CTHabitat for Humanity of Coastal Fairfield County    -- Bridgeport, CTNorwalk Hospital -- Norwalk, CTOpen Door Shelter -- Norwalk, CTOperation Hope -- Fairfield, CTSalvation Army -- Bridgeport, CTStonington Harbor Yacht Club Sailing Foundation -- Stonington, CTSusan G. Komen for Breast Cancer Foundation -- Hartford, CTThe Center for Women & Families of Eastern Fairfield Co. -- Bridgeport, CTThe Connecticut Audubon Society -- Fairfield, CT

Across the country:    

ALABAMA, ATMORE             American Legion Auxiliary – Unit 90        American Red Cross (AL Gulf Coast)Friends of Education of Escambia County    United Fund of the Atmore Area

ALABAMA, HUNTSVILLECare and Assurance System for the Aging and Homebound

ALBERTA (CANADA), CALGARY Calgary Humane Society            Calgary Inter Faith Food Bank            Calgary Women’s Emergency Shelter        MustardSeedThe Alberta Children’s Hospital

ARKANSAS, LONOKE Literacy Council of Lonoke County

ARKANSAS, BENTON Churches Joint Council on Human Need

ARKANSAS. FORT SMITH Crisis Center for Battered WomenFort Smith Boys and Girls Club        Gregory Kistler Treatment Center

ARKANSAS, LITTLE ROCK Heifer Project InternationalLittle Rock Compassion CenterThe First Tee of Central Arkansas

ARKANSAS, JACKSONVILLE Fishnet Missions                

ARKANSAS, MAUMELLEHope Ministry Alliance

CALIFORNIA, FRESNOCommunity Food BankFresno Rescue Mission                Marjaree Mason Center, Inc.        Poverello House

CALIFORNIA, LADERA RANCHLaura’s House

CALIFORNIA, LAGUNA BEACHThe Laguna PlayhouseThe Laguna Beach Historical Society

CALIFORNIA, LOS ALAMITOSCASA Youth Shelter

CALIFORNIA, MANTECA Second Harvest Food Bank

CALIFORNIA, SACRAMENTO Make a Wish Foundation of Sacramento

CALIFORNIA, SAN PEDROBoys & Girls Club of Los Angeles Harbor

CALIFORNIA, SANTA ANAPacific Symphony

CALIFORNIA, SILVERADOSt. Michael’s Abbey

CALIFORNIA, STOCKTON Gospel Center Rescue Mission    United Way of San Joaquin

CALIFORNIA, WILMINGTON Friends of Banning Landing            Friends of Banning Museum            Friends of the Wilmington Branch LibraryGang Alternative ProgramSociety for the Preservation of Drum Barracks            

FLORIDA, SARASOTA Children Charity Fund, Inc.            

GEORGIA, ATLANTAAmerican Cancer SocietyThe Salvation Army Residences, Inc.

ILLINOIS, CHICAGOAmerican Red Cross of Greater ChicagoGreater Chicago Food DepositoryPAWS – ChicagoSusan G. Komen Breast Cancer Foundation

ILLINOIS, GENEVAMarklund

MISSISSIPPI, FOREST Crisis Pregnancy Services of Central Mississippi

MISSISSIPPI, LAKESunbelt Christian Youth Ranch

NEW YORK, NEW YORKResearch to Prevent BlindnessUNICEF USA

NEW YORK, PORT WASHINGTONFarms for City Kids Foundation

NEW YORK, UNIONDALE Feel Better Kids, Inc                

NORTH CAROLINA, SANFORD Helping Hand Clinic, Inc.Stevens Foundation for Development and Enrichment Services    

OKLAHOMA, WESTVILLEHope Center Inc.Westville EMSWestville Police Department Shop with a Cop    

SOUTH DAKOTA, SIOUX FALLS National Multiple Sclerosis Society

TENNESSEE, MEMPHISSt. Jude’s Children Research Hospital

TEXAS, NACOGDOCHES The Empty Stocking Fund

VIRGINIA, TRIANGLE Marine Toys for Tots Foundation

Christopher V. B. Smith, President & CEO of H.J. Baker said: “H.J. Baker & Bro., Inc. has long supported the communities where our employees live and work.It is with profound gratitude that this holiday season H.J. Baker & Bro., Inc. was able to continue that tradition.Based on employee input we donated to charities surrounding our 22 locations across the country and sponsoring children in need around the world.These charities are on the front lines providing relief and support to those who need it most on a daily basis; including healthcare, food, clothing, clean water, and shelter as well as hope and knowledge.We are honored to help support their efforts.”

For 2010, H.J. Baker contributed over $200,000 to more than 75 non-profit organizations throughout the country.

H.J. Baker & Bro., Inc. is a leader in the feed, fertilizer and sulphur industries, with more than 20 locations throughout the United States, Canada and Mexico.For more than 150 years, H.J. Baker has been mobilizing resources and providing outstanding products and service to the agriculture industry throughout the world.The company's strategically located processing plants, offices and warehouses create a super-efficient pipeline for the vital commodities and products that it sources, manufactures and markets.H.J. Baker & Bro., Inc. is headquartered in Westport, Connecticut USA.

For more information on H.J. Baker & Bro., Inc. visit their website at .

Media Inquiries:     Peter Barhydtw 203-618-1709 c 203-252-4768Peter(dot)Barhydt(at)AberdeenAssociates(dot)com

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PETER BARHYDTAberdeen Associates, Inc.203-618-1709Email Information

V-Rooms Offer Free Data Upload for Canadian Clients

V-Rooms™, a leading virtual data room (VDR) provider, is offering its Canadian clients free data upload services to save costs associated with Canada’s new metered Internet usage laws, referred to as Usage-Based Billing (UBB)

Atlanta, GA (Vocus/PRWEB) February 04, 2011

V-Rooms™, a leading(VDR) provider, is offering its Canadian clients free data upload services to save costs associated with Canada’s new metered Internet usage laws, referred to as Usage-Based Billing (UBB).Clients may simply mail their files on CDs or DVDs to the V-Rooms staff, which will then upload their data for free, saving clients money in not exceeding bandwidth caps.

With UBB, Internet Service Providers (ISP) may provide end users with a very low upload/download cap, and charge them as they exceed that allowable amount. Monthly caps recommended have been as low as 25GB. For users who are viewing hundreds, possibly thousands, of documents and files in conjunction with a merger and acquisition (M&A) transaction, the bandwidth may easily be exceeded.

For those Canadian companies who are involved in cross border transactions, V-Rooms provides for a significant cost savings since the V-Rooms servers and ISP are located within the U.S. Therefore, when these documents and files are accessed by non-Canadian based end users, the bandwidth limitations do not even come into consideration.

“We are offering this free data upload service for our Canadian clients.However, we feel that the costs associated with UBB upload/download bandwidth caps will prompt some companies to move technologically backward, relying on paper, fax and courier services to exchange sensitive information.Actually, a new company is offering to download information, burn CDs and ship to their Canadian customers," said Dan Bradbary, CEO of V-Rooms . “In reality, this type of data bandwidth restriction will tend to push business out of Canada into other countries, such as the U.S., where these restrictions do not exist. We just want to help our clients save money wherever they are located.”

In this era of the internet, when information sharing is at the touch of a button, the dilemma is how to keep sensitive corporate information confidential. With the current Wikileaks situation, having comprehensive document control features and audit trails will provide even more accountability in complex business transactions, and go a long way in controlling “data leakage”. The enactment of the Canadian UBB laws will be counterproductive to the handling of sensitive information and will be a technologically backwards step in the online sharing of corporate information.

About V-Rooms:Due Diligence Online, LLC (800-731-6379). V-Rooms provides a privately-branded online virtual data room solution, designed to streamline document management, collaboration, exchange and archiving for Investment Banking, Financial, Legal and Corporate professionals. Our document repository facilitates the compliant and auditable exchange of sensitive information to accelerate complex, information-intensive processes, while reducing the time and expenses associated with data distribution, courier, printing and travel.

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Karen Perkins, PresidentV-Rooms800-731-6379Email Information