An optimistic tale of the world’s two last financial crises September 11, 2012 THE impact of the 2007-2009 financial crash is far from over. But, despite the doom and gloom, history may give us something to feel cheerful about. Even in living memory there have been plenty of recessions, when GDP growth was negative and employment fell. The UK has experienced them in the mid-1970s, the early 1980s [...]
Should investors be adding Burberry shares to their portfolio after its latest profit warning? September 11, 2012 YES Kate Calvert Burberry spooked the market by announcing a downturn in second quarter retail sales. However, yesterday’s fall in the value of its shares seems disproportionate to the downgrade. This is especially true given the recent de-rating of the overall luxury sector. Lack of visible demand and the question of whether this is a [...]
Rapid Responses September 11, 2012 Aim shares in Isas [Re: Isa cash for SMEs, Monday] David O’Hara has launched an e-petition to allow Aim shares to be included in Isas. We strongly support it. Inclusion would provide valuable fuel for the UK economy’s engines of growth – small and mid-sized companies. The government has cited various excuses for this exclusion, [...]
The success of Scandinavia owes nothing to high taxes or welfare September 10, 2012 SCANDINAVIAN nations are often regarded as role models. Egalitarian Richard Wilkinson once said that, if you want to live the American dream, you should live in Denmark. Sweden often gets envious glances from social democrats in the Anglophone world. Scandinavian societies are characterised by high living standards, high life expectancy, low crime rates, high social [...]
Banking regulations can be costly: Sometimes it pays to be loyal and lazy September 10, 2012 THE public are unhappy with banks. And some people are exercising their right to switch their accounts. This is a key part of capitalism and something that should be welcomed. After all, the threat of exit is one of the most important ways to ensure customer satisfaction. But there is a problem when people go [...]
Ignite the spirit of the Games Makers in our employees September 10, 2012 FAREWELL then, to the undisputed stars of the London 2012 Olympic and Paralympic Games – the Games Makers will be missed. Overnight, London became a friendlier place. Anyone who was helped by them, or who heard the prolonged applause for them at the closing ceremonies, will know they rose to the occasion brilliantly and contributed [...]
Is the government doing enough to remove the burden of regulation on UK businesses? September 10, 2012 YES Priti Patel The government is already using its Red Tape Challenge to identify burdens that need amending or scrapping. Business should be confident that, before the next election, thousands of regulations will be scrapped or amended. The appointment of Michael Fallon to the Department for Business is a positive step. He will help to [...]
Rapid Responses September 10, 2012 Taxing wealth fails [Re: These politicians are wrong. A tax on wealth would be bad for Britain, yesterday] It’s interesting that Andrew Sentance’s article makes the same point as the one by Andrew Haldenby, but from a different angle. The truth they both reveal is that low tax economies have faster growth, greater productivity gains, [...]
These politicians are wrong – a tax on wealth would be bad for Britain September 9, 2012 A NUMBER of leading political figures – including Nick Clegg, Vince Cable and Ed Balls – have recently voiced their support for a new wealth tax. It is easy to see why this idea is attractive to politicians. In the UK, personal wealth totals around £7 trillion – around 5 times GDP – even after [...]
The City is poised to take advantage of Chinese currency liberalisation September 9, 2012 OFFSHORE renminbi (RMB) – or dim sum bonds, as they have affectionately come to be known in the West – have more in common with their culinary counterparts than meets the eye. Traditionally enjoyed at yum cha – the Chinese equivalent of afternoon tea – by farmers after a hard day’s work, dim sum have [...]