Watching the skies for signs of another Swiss franc intervention April 3, 2012 EVER since the Swiss National Bank (SNB) steamrollered the FX market in September last year, traders have been nervously watching for signs that it is preparing another move. But just how likely is this? As European financial woes rumbled on, investors took flight into the safety of the Swiss franc, rapidly strengthening it against the [...]
Watching the skies for signs of another Swiss franc intervention April 3, 2012 EVER since the Swiss National Bank (SNB) steamrollered the FX market in September last year, traders have been nervously watching for signs that it is preparing another move. But just how likely is this? As European financial woes rumbled on, investors took flight into the safety of the Swiss franc, rapidly strengthening it against the [...]
What to look out for in the Budget March 20, 2012 ● PERSONAL TAXES The tax-free personal allowance was originally due to go up £630 to £8,105 as part of a long-term plan to take everyone earning below £10,000 out of income tax. That increase will be accelerated – almost doubled, in fact – as part of a plan to help low-earners more. But the scheme is [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 7, 2012 FINANCIAL TIMES CURRENCY TRADING VOLUMES DROP Volumes in the world’s multi-trillion dollar foreign exchange market have dropped to six-year lows as nervous investors have shied away from trading the euro and central banks have continued to maintain a tight grip on the value of their currencies. SOCGEN TO FACE REGULATOR PROBE Société Générale is to [...]
Bank of Japan steps up QE in deflation war February 14, 2012 THE YEN fell against the dollar yesterday after the Bank of Japan announced a 10 trillion yen (£81bn) expansion of its asset purchase program. Despite years battling deflation, it is the first time the central bank has stated an explicit inflation target. It now aims for consumer price inflation of one per cent. The monetary [...]
Calls for end to 50p tax as Osborne mulls faster allowance hike March 18, 2012 THE TAX-FREE allowance could be raised faster than previously planned in Wednesday’s budget, City A.M. understands, as part of a major deal to reduce taxes on workers at both ends of the income distribution. Chancellor George Osborne yesterday promised that “the bulk” of new measures announced will benefit people on low and middle incomes, as [...]
Calls for end to 50p tax as Osborne mulls faster allowance hike March 18, 2012 THE TAX-FREE allowance could be raised faster than previously planned in Wednesday’s budget, City A.M. understands, as part of a major deal to reduce taxes on workers at both ends of the income distribution. Chancellor George Osborne yesterday promised that “the bulk” of new measures announced will benefit people on low and middle incomes, as [...]
Banks and miners stall FTSE rally March 19, 2012 The FTSE 100 edged lower today as last week’s rally was ended by investors steering away from banking and energy stocks. Banks have led the market higher over recent sessions following a deal over Greek debt and improving market sentiment toward the stocks which have been hit by market volatility over the past year. They [...]
Coca-Cola surprises on emerging market sales July 19, 2011 US DRINKS giant Coca-Cola yesterday reported a slowdown in sales in North America, but still posted better-than-expected earnings on strength in emerging markets such as China and Russia. Coke reported net income of $2.8bn (£1.12bn), or $1.20 per share for the quarter to 1 July up from $2.37bn a year earlier. Excluding one-time items, earnings [...]
Competing currencies versus freed markets December 5, 2011 THE UK hasn’t always had a floating exchange rate, and a reasonably free market in foreign exchange is not to be sniffed at. But is competition always a step in the right direction? According to Friedrich Hayek, the rational choice in monetary regimes is between one of two alternatives – either a free banking system [...]