UK unemployment falls May 16, 2012 The number of Britons out of work fell at the fastest pace in nearly a year in the three months to March, official data showed, pointing to some underlying resilience in the economy. Britain slipped back into recession at the beginning of 2012, stoking fears that more people will become unemployed at a time when [...]
Should George Osborne reverse the cap on income tax relief for charitable donations? April 12, 2012 YES Sir Stuart Etherington This proposal needs an urgent rethink before it does irreversible damage. Major donors face at least six months of confusion and charities are already losing gifts as a result. High-level donations form a significant proportion of voluntary income, and framing tax relief on donations to charity as a tax avoidance measure [...]
WALL ST THE WEEK AHEAD July 1, 2012 US stocks finished the first half of the year with a bang as investors welcomed news that the Eurozone is a step closer to solving its 30-month-long debt crisis. Now for the question: Is this rally strong enough to last for more than a day? The S&P 500 and the Nasdaq posted their best daily [...]
Next reports strong sales May 2, 2012 Next, the country’s second-biggest clothing retailer, said a strong March, when the weather was fine, offset a weak April, when the cold and rain kept shoppers at home, enabling the firm to hold its profit outlook for the year. “Pretty much sales went up and down with the temperature gauge,” chief executive Simon Wolfson said. [...]
A Parliamentary blueprint to end banking hazards March 8, 2012 STEVE Baker MP has proposed a private member’s bill, the Financial Institutions (Reform) Bill, calling for radical reforms to the banking system and an end to state involvement in banking. Baker is co-founder of the Cobden Centre, a free-market institute advocating the restoration of sound banking and honest money, and is the Conservative MP for [...]
Tax reform is long overdue: The coalition must act soon to boost long-term growth March 15, 2012 THE CONTENT of next week’s budget has been the subject of intense speculation. What will the magic budget briefcase contain? A tycoon tax or a cut in the 50p rate? Help for small businesses or low earners? Relief from rising fuel duty or restrictions on pension tax relief? Most of this discussion is around short-term [...]
Enterprise loans available for young entrepreneurs March 21, 2012 YOUNG people will be able to access enterprise loans of between £5,000 and £10,000 to enable them to start their own business, under a pilot scheme announced in yesterday’s Budget. The deal will be structured in a similar manner to the existing student loans, with low rates of interest likely to be pegged close to [...]
Next profits up but warns of “subdued” 2012 March 22, 2012 The head of Next, Britain’s second largest clothing retailer, said he expected the UK consumer mood to remain subdued in 2012. “I don’t think things are going to get any worse than last year, they may get slightly better, but I don’t think they’re going to get a lot better,” Chief Executive Simon Wolfson said. [...]
AS YIELDS MOVE WIDER, SPANISH WOES CONTINUE TO WEIGH ON THE EURO April 16, 2012 FX360 One of my colleagues wrote last week: “You can’t spell Spain without pain,” and truer words have not been spoken. As currency traders return to a full week of work after the Easter break, euro-dollar finds itself under pressure as credit spreads in the region once again widen out. After a few months of [...]
Coalition hits out on Heathrow March 4, 2012 THE GOVERNMENT said yesterday it will not reconsider a third runway at Heathrow, batting away fresh claims from businesses and interest groups that more air capacity is desperately needed to support economic growth. “The government does not support the development of a third runway at Heathrow because of the unacceptable environmental consequences it would bring,” [...]