Arsenal financial future 'secure'

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Arsenal moved from Highbury to Emirates Stadium in 2006 Chief executive Ivan Gazidis has said Arsenal's financial future is bright despite a fall in turnover and profit.

The Gunners reported group turnover for the year ending 31 May as ￡255.7m, down from ￡379.9m in 2010, while profit was also reduced from ￡56m to ￡14.8m.

Gazidis told the club website: "We are very secure - it's a good set of results again.

"This is a very solid, very healthy set of results and it gives us a good platform to move forward from."

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Arsenal's accounts do not include the ￡30m gained from the sale of Cesc Fabregas, the ￡24m received for Samir Nasri or the ￡7m paid by Manchester City for Gael Clichy

A reduced income from property sales at the Highbury redevelopment and increase in player wages have played their part in the drops, but the figures do not include the sales of midfielders Cesc Fabregas and Samir Nasri to Barcelona and Manchester City respectively.

"We didn't have the same kind of profit from player sales that we had in the previous season and that explains the slight reduction in profit," added Gazidis.

"We haven't seen the same kind of profits from the property side that we have seen in the past but that was entirely to be expected. Our property business is debt-free so any new sales of property do accumulate cash, which is very positive for the future."

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European financial tax 'bad idea'

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30 September 2011 Last updated at 12:40 GMT Mr Borg said Sweden's experience of a financial transaction tax was "very bad" A European financial transaction tax is unlikely to raise the sums of money projected as it would encourage firms to move overseas, Sweden's finance minister has told the BBC.

Anders Borg said Sweden abandoned its own transaction tax after most trading companies left the country.

The tax "had a very detrimental impact on our financial markets", he said.

If the European Union introduces the tax, firms could simply move to New York or Asia, Mr Borg said.

'Very bad tax'

Sweden introduced a transaction tax on financial firms in the 1980s.

"Between 90%-99% of traders in bonds, equities and derivatives moved out of Stockholm to London," Mr Borg said.

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We are basically taxing growth away from Europe, and that is not a very good idea”

End Quote Anders Borg Swedish Finance Minister "The impact was basically that we did not get any tax revenue. It brought in very little tax money while moving most of the businesses outside of Sweden.

"We abandoned [the tax] because it was a very, very bad functioning tax."

The fact that the US has said it has no intention of introducing a similar tax, meant that firms would be free to move to other financial centres, Mr Borg said.

"So we are basically taxing growth away from Europe, and that is not a very good idea.

"I hope [policymakers] realise they might be losing out themselves. This is not a stable tax base."

Mr Borg said he was in favour of making the banking system pay, and making it more robust, but that any measures designed to bring this about should not push firms out of Europe.

Hard hit

The UK has also been vocal in its opposition to the tax proposed by the European Commission earlier this week.

A spokesperson for the UK Treasury said it would "absolutely resist" any tax that was not introduced globally.

London would be hardest hit by the tax as the majority of banking transactions in Europe come through the city.

However, a number of other European countries are in favour of the tax, including France, Austria, Belgium, Norway and Spain.

The commission has said it will look at implementing the tax just in the 17 member states of the eurozone if other EU members oppose it.

Under the proposals, the financial tax would be levied at a rate of 0.1% on all transactions between institutions when at least one party is based in the EU. Derivative contracts would be taxed at a rate of 0.01%.

The tax would raise about 57bn euros ($78bn; ￡50bn) a year and would come into effect at the start of 2014, the commission said.

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To avoid repetition of the financial crisis

Inverted Wenzhou's "harmony" move that if declared bankruptcy comes to power.

The disaster is killed or injured more than 200 people, pressed to gradually reveal the terrible truth: man-made disasters. We know that it is so it can only do this. But obscured in smash the Ministry of railways, finally a little truth, we will still have the joy of a trace of the winner.

Microblogging forced media, media create public opinion, violates the prohibition of control brains, the truth to emerge. A people who are tired of the process, because the results from the very beginning, also will get a grip on power. In such a country, most controls the mouth, eyes and ears, except decisions with powerful information leaves, to one of your own effects already entrusted to the truth of the great depression was in the media and the media. But this summer, conscience no longer afraid of melting pulp, mantle mean enough to empty out detention, to the raging flames, seemed to burn throughout the old world.

The Ministry of railways, the symbol of autocracy and corruption, CAME tumbling Collapse in the examination of the population, less than a week, infestations of iron and steel giant eye stones, because he will be tried in people.

A few days ago, he was a monster with arrogant and persecuted, I turn a posture of the railways I call the shots. People in the compartment seems to be his hostage and slaves, their use and revile dignities. This militarization and planned economic system breeds of freaks, that State within a State: he has his own system of courts, there is a hegemonic subject to the public, independent and high above, no one can shake their domination of the Kingdom. Justice and citizens ' rights is not in the scrutiny of the column, he was drag racing pleasure. With former Director Liu zhijun rail Kingdom controlled, clean, exclusive works even the direction is the direction of the railway.

LiU zhijun drag China corruption Group at high speed as bait and tie up the Government in this crazy high speed travel to wagon-this is not a destination. High speed, fast, self-service sth different types of high-sounding reasons, appears to be the only railroad into a road of independent innovation, no arrivals after an unprecedented rapid development path, looking for landing point of China's economy opens up a new road, that officials agree without prior consultations to seek employment and economic growth and political demands. The agent shot in required of officials, Liu zhijun easily get unfettered power.

Faster, better, stronger, over mainland China suddenly of Olympic Games a strong self-confidence, they want to hasten to catch up with world powers. Speed near perverted obsession, led to a great leap forward movement of the railway. Speed speed increased again, by car, followed by the rail system. Land of moaning, behind the driving rail wheel all the way, was tears of relocation of people. Road movement sweeping the continent, home to many Chinese. On the front of the dazzling speed, people's knees.

No output, Monster Shuttle, road vehicle exchanges, people can't see the distant, more do not know what is at the end.

Last year a home visit, see set up a root in the Guanzhong plain thick concrete severed post, Qinling mountain of sight inquire., I have been cutting pain, I know that the development of the beast has been claimed to be able to slam the oil lands. Acquaintances said high-speed train project oversight, everything on the site is a boss in charge, he is afraid of technical problems with print quality and was forced to resign. I understand the great leap forward will leave infinity affected rail system.

Fixed is for what? Why are we so fast?

Allows for high-speed civil aviation does not guarantee the construction of the airport after the destruction of so much land, several high-speed destroying more land, and the only to pull the same group of people. More people flow, means more land barren, inflation is not going to stop. Wheat, maize, sorghum, soya beans are produced on the road from you?

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