Oracle sales boost profits

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.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Show Comments ▼ KCS-content Oracle sales boost profits ORACLE yesterday said fiscal first-quarter profit rose a better-than-expected 20 per cent, helped by strong sales of new business software and faster-than-expected growth of its new hardware business.The world’s third largest software maker, which sells business software database systems and now server hardware through its recent purchase of Sun Microsystems, reported net profit of $1.35bn (£864m), compared with $1.12bn in the year-ago quarter.Sales rose 50 per cent to $7.6bn, helped by the acquisition of Sun Microsystems earlier this year. Analysts were expecting $7.27bn, on average.New software sales — which generate long-term maintenance contracts, signaling future profitability — were up 25 per cent to $1.3 bn. The company had forecast three months ago they would rise between two per cent and 12 per cent.Oracle’s shares were up nearly three per cent at $26.10 after closing at $25.36 on the Nasdaq.The company is expected to make a forecast on sales of new software for the current quarter.Chief executive Larry Ellison and new president Mark Hurd — the former Hewlett-Packard (HP) chief executive who joined Oracle earlier this month — are expected to make the announcement. Hurd has officially started his new role at Oracle, even as his former employer has launched a law suit against him. whatsapp 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 Proofcenter_img Thursday 16 September 2010 8:25 pm whatsapp Share Tags: NULLlast_img read more

FTSE opens slightly up

first_img More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndo Tags: NULL Monday 20 September 2010 3:00 am whatsapp Show Comments ▼center_img whatsapp The FTSE 100 opened up 7-13 points, according to financial bookmakers, rallying modestly after falls on Friday in tandem with slight gains on Wall Street and in Asia, with all eyes on Tuesday’s Federal Reserve meeting.The UK blue chip index closed 31.69 points, or 0.6 per cent lower on Friday at 5,508.45 as weak US consumer confidence data and worries over Ireland’s finances prompted investors to move out of riskier assets, such as banks.US stocks managed to recoup early falls on Friday, however, as quadruple-witching futures and options expiries passed without any major incidents and reassuring earnings and an upbeat outlook from software firm Oraclebuoyed technology issues.Asian stocks outside of Japan were slightly higher on Monday, while markets in Tokyo were closed for a public holiday. Share John Dunne FTSE opens slightly up last_img read more

Betfair float values company at £1.4bn

first_imgFriday 22 October 2010 3:46 am Tags: NULL More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comNative 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.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.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.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com 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 AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Betfair float values company at £1.4bn John Dunne center_img whatsapp Share Betfair has priced its initial public offering at 1,300 pence per share – valuing the company at £1.4bnBetfair, the world’s largest bettingwebsite, said it had sold 16.2m shares in the offering, excluding an overallotment option, or 15.2 per cent of the company.It had offered the shares at 1,100-1,400 pence.The company has more than three million registered users, and processes more than five million bets a day.It was founded 10 years ago by Andrew Black, a one-time professional gambler, and former JP Morgan trader Edward Wray.Goldman Sachs and Morgan Stanley were joint bookrunners while Barclays Capital and Numis were co-lead managers. Show Comments ▼last_img read more

BEST OF THE BROKERS

first_imgThursday 18 November 2010 7:27 pm 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 PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity 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 Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com More From Our Partners Biden 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.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA 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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org whatsapp Show Comments ▼center_img Share MARKS & SPENCERExecution Noble has upgraded the supermarket to “buy” with an upgraded fair value price of 475p, following its research on M&S customers. The broker sees the firm’s new strategy as a real driver for sales growth, with the food business as a particularly strong opportunity. It adds that the brand could also cash in on the homewares market, which is ripe for consolidation.TRINITY MIRRORAltium Securities rates the media group “buy” with a reduced target price of 145p. The broker has trimmed its pre-tax profit forecasts for 2011 and 2012 by four and eleven per cent respectively, following a more cautious revenue outlook in last week’s management statement. Altium still views the shares as cheap, but remains wary for future years until more concrete signs of recovery emerge.KELLER GROUPBNP Paribas rates the construction firm “neutral” with a reduced target price of 650p. The broker believes there is further pressure on margins from continued slow demand in North America and Europe, with the company forced to cut costs. However, it adds that Keller can maintain its dividend payments despite a 10 per cent earnings per share shortfall, due to its recently-reduced net debt levels. BEST OF THE BROKERS KCS-content Tags: NULLlast_img read more

Firms furious over plan for migrant cap

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 PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesNoteabley25 Funny Notes Written By StrangersNoteableyWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Firms furious over plan for migrant cap Show Comments ▼ Tuesday 23 November 2010 9:08 pm Tags: NULL whatsapp KCS-content center_img Share More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com whatsapp BUSINESS and industry yesterday reacted angrily to government plans to cut the number of workers it allows in from outside the EU by a fifth, insisting they would stop Britain from recruiting global talent. Home secretary Theresa May said the number of workers entering Britain from outside the EU will be capped at 21,700 a year from April 2011. That compares to around 28,000 economic migrants who entered the country in 2009, although this figure was historically low due to the impact of the financial crisis. Those allowed to enter without a job offer will be slashed by 13,000 from last year’s level to 1,000 and permits will be limited to “exceptional talent” such as scientists, academics and artists.The number of workers with job offers allowed in will be increased by nearly 7,000 to 20,700, although permits will be restricted to graduate-level jobs, May said. Business groups welcomed the decision not to limit company transfers for those earning more than £40,000 a year, but said the planned cap had been set too low. Jo Valentine, chief executive of City lobby group London First, said: “In limiting the number of skilled migrants which business can recruit, to the numbers they needed at the depths of the recession, government is basically capping economic growth, capping UK jobs and capping tax receipts.” She added: “Government seems to be saying: ‘if your business is flourishing, please grow it outside the UK’.”And Colin Stanbridge, chief executive of the London Chamber of Commerce and Industry said the plans would “deprive London of some of the brightest and best professionals in the world”. Meanwhile, May announced a consultation into student visas, amid concerns that some entrants are using them to bypass the immigration system.Home office officials suggested that May might scrap visas for students not studying at degree level. last_img read more

INEOS reveals $1bn China deal

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 TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStory KCS-content whatsapp Monday 31 January 2011 9:01 pm Share Chemicals firm INEOS yesterday unveiled the details of its plan to offload a 50 per cent stake in its oil refineries to PetroChina. The deal, announced during the Chinese vice premier Li Ke Qiang’s visit to the UK in January, will see PetroChina pay $1bn for the stake. The joint venture is due to begin in the second quarter of 2011. center_img INEOS reveals $1bn China deal 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 whatsapp Tags: NULL Show Comments ▼last_img read more

OFT investigates advertisers

first_img Tags: NULL KCS-content OFT investigates advertisers Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutHero WarsThis game will keep you up all night!Hero WarsSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Ads Thursday 3 February 2011 7:37 pmcenter_img More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comKansas coach fired for using N-word toward Black playerthegrio.com Share whatsapp whatsapp Britain’s Office of Fair Trading said it had started an investigation into certain JC Decaux and Clear Channel contracts as part of a probe into barriers to entry in the outdoor advertising market. The OFT said it had written to the two companies to explain there were reasonable grounds for suspecting the agreements restrict competition. last_img read more

A&B given a lift as gold pulls in more customers

first_imgTuesday 15 February 2011 7:42 pm whatsapp A&B given a lift as gold pulls in more customers PAWNBROKER Albemarle & Bond said yesterday that heavy advertising by websites that buy gold from consumers by post has boosted business.Revenues at its gold-buying arm were up 22 per cent in the six months to the end of December. The firm said that that was being boosted by online advertising in the industry.But A&B’s pre-tax profits slipped one per cent to £10.7m in the period due to the cost of opening new shops.Chief executive Barry Stevenson said: “We are expanding the core business and exploring new opportunities including adding at least 25 full line stores per annum, opening flexible gold buying pop-up shops, developing new routes to market, trialling new unsecured lending products, introducing new marketing and branding strategies, and further incentivisation of our highly trained staff to deliver outstanding levels of service.” KCS-content Show Comments ▼ Share whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.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.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.com Tags: NULLlast_img read more

BAE Systems says defence cuts are biting

first_img whatsapp whatsapp Share Thursday 17 February 2011 3:22 am BAE Systems, which posted a slight rise in profits for 2010, said it expected sales to fall in 2011 as the impact of defense cuts in the UK and US begin to hit home.BAE, Europe’s biggest defense contractor, announced that underlying earnings before interest, tax and amortization (EBITA) for 2010 rose 0.8 per cent to £2.21bn.The rise was driven by cost savings and growth at its services and international business, which offset ongoing weakness at its land armaments unit.“In 2011, a reduction in sales is anticipated as the volume reduction in land and armaments is expected to complete and as the changes arising from the Strategic Defense and Security Review (SDSR) reduce activity in the UK businesses,” the company said in a statement.“Continuing actions to reduce cost and improve efficiency are expected to benefit return on sales and mitigate the impact of that lower activity.”The company was expected to report an average EBITA of 2.12 billion pounds, according to a Thomson Reuters poll of 18 analysts.Britain last year slashed its defense budget eight per cent to help reduce the country’s huge budget deficit, cutting its army, navy and air force.U.S. defense spending, also very important to BAE, was seen as flat at best.In October, BAE said it would be negatively hit by the UK government spending review and the possible cancellation of a patrol vessel program in Trinidad and Tobago.BAE, which is involved in the production of the F-35 jet, the Astute class submarine and the Queen Elizabeth-class aircraft carriers, said 2010 revenues rose 1.8 per cent to £22.39bn.It raised its final dividend by 9.4 per cent to 10.5 pence, taking the total dividend for the year to 17.5 pence – up from 16 pence a year earlier.Shares in the company, which have risen 6.3 per cent so far this year, closed at 355.70 pence on Wednesday, valuing the company at around £12bn. Tags: NULL Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap Show Comments ▼ John Dunne BAE Systems says defence cuts are biting last_img read more

Greece’s top tax official resigns

first_img alison.lock whatsapp Greece’s top tax official resigns Wednesday 9 March 2011 2:25 pm Greece’s top tax official resigned on Wednesday two days after Moody’s slashed the country’s credit rating, citing shortfalls in tax collection.A government spokesman said that Dimitris Georgakopoulos, secretary-general at the Finance Ministry in charge of tax and customs issues, left his post.“He resigned for personal reasons,” government spokesman George Petalotis told Reuters, without elaborating.Tax collection is a weak point in Greece’s efforts to reduce its deficit as part of an €110bn (£94.8bn) EU/IMF bailout to avoid bankruptcy.The country missed its revenue targets last year and risks missing them again in 2011, the EU and the IMF said, urging the government to do more against tax dodgers.Moody’s on Monday cut Greece’s rating by three notches, citing among other reasons continued flaws in Greece’s tax collecting mechanism.“Government revenues have been slow to rebound, which is in part the result of a continued weakness in tax collection mechanisms,” the agency said.Greece has rejected the agency’s criticism, saying that initial targets may have been missed but tax revenues actually rose last year, despite the country’s austerity-fuelled recession. Tags: NULL Share Show Comments ▼ 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap whatsapplast_img read more