Political risk could still derail a better Eurozone outlook January 29, 2013 THIS year could be a watershed for the Eurozone. There is now a real chance the region can overcome the market volatility and fragmentation of the past few years, and that countries like Greece could actively return to capital markets. European leaders have laid much of the groundwork towards restoring credibility to Eurozone policy. But [...]
Goldman Sachs: A host of medals might make up for Olympic costs July 11, 2012 HISTORICALLY, the financial reward of hosting the Olympics has been mixed: the 1972 Munich Olympics and the 1976 Montreal Olympics made significant losses, while the Games held in Los Angeles (1984), Barcelona (1992) and Atlanta (1996) each made a profit. Moreover, if you fully account for all of the costs related to the hosting of [...]
Economic perfect storm: The four trends that killed Western growth January 21, 2013 THE West lies at the confluence of four extremely dangerous long-term developments. Individually or collectively, they have already begun to reverse more than two centuries of economic expansion. The first is well-known: the creation of the worst financial bubble in history – “the great credit super-cycle”. Since the 1980s, a relentless shift to immediate consumption [...]
April showers dampen profits for Kingfisher May 31, 2012 KINGFISHER, Europe’s biggest home improvements chain, yesterday blamed miserable weather in April and a weakening euro, for a steep fall in first quarter profits. “We anticipated the first quarter would be challenging, compared with last year’s strong growth which was boosted by favourable spring weather and public holidays,” chief executive Ian Cheshire said. “But an [...]
Businesses back Boles’ plans to develop on open countryside November 28, 2012 BUSINESS leaders have applauded planning minister Nick Boles after he called for homes to be built over swathes of countryside in order to combat the UK’s housing shortage. Last night Boles told BBC Newsnight that around 1,500 square miles of open countryside should be developed, in the hope of bringing down the cost of homes [...]
Zombie firms, tax hikes and HS2 all dragging the UK down January 28, 2013 THERE is much that the coalition has done that is helping the economy. Its reforms to education and welfare will, over time, improve the workforce’s skills and reduce the number of people trapped in dependency. Cutting the top rate of tax, which kicks in in April, and the increases to the personal allowance, which have [...]
Fund managers down on regulation November 4, 2012 Just one in 10 investors believe forthcoming regulatory requirements on hedge funds will protect their investments interests, a survey by Ernst & Young reveals today. A further 85 per cent of investors do not believe regulatory requirements will help prevent the next financial crisis. Ratan Engineer, asset management global leader from E&Y said: “It may [...]
Top schools fuel house price hike January 24, 2013 AGOOD education can cost parents more than just tuition fees. Trends show that top performing schools drive house prices in their local neighbourhoods by nearly a third more than the national average. Little wonder, then, that developers are constructing luxury schemes in these sought-after areas. Wimbledon Hill Park is going down well with parents keen [...]
Rapid responses November 19, 2012 Easing the burden [Re: We must ditch unfair loopholes – and then cut tax overall, yesterday] You have to ask what purpose corporation tax serves. Companies are mere constructs for the purposes of providing services to the market. By taxing them, the government is penalising a justifiable and desirable activity. In the end, the consumer [...]
The UK’s credit rating will fall victim to the failure to tweak RPI January 10, 2013 WHEN asked who your favourite chancellor is, it’s fashionable to reply William Gladstone. He is the man who helped construct the Victorian liberal state, based on free trade and small government. But while Gladstone was certainly brilliant, my own choice is Neville Chamberlain, who successfully steered Britain out of the 1930s Depression. It was a [...]