Why Piketty’s socialist manifesto doesn’t stack up May 6, 2014 THOMAS Piketty makes some bold claims about the future of capitalism. In Capital in the Twenty-First Century, he observes that, in capitalist economies, the rate of return on capital (r) tends to be higher than the growth rate of the economy (g). Provided capital owners save a high proportion of capital income, the power of [...]
Three ways to get more from LinkedIn May 5, 2014 While you’ll have to put more work into your account, you can also easily monitor your success WHEN LinkedIn announced it had surpassed 15m UK members in March, the accompanying statistical breakdown put a new perspective on what passes for professional in Britain. Although the biggest UK employers represented included RBS and Lloyds, 146 chimney [...]
Behind the curve: Beware of Fed-induced asset bubbles May 5, 2014 Yellen risks making the same mistake as Greenspan in 2004 FEARS that the US recovery may falter were reawakened last week, with the advanced estimate of first quarter GDP coming in at an annualised 0.1 per cent, down from 2.6 per cent in the final quarter of 2013 (see chart). The dollar fell by 0.4 [...]
CNBC Comment: Bulls versus bears on stock valuations May 5, 2014 IT MIGHT seem a long time until 13 September, but at the beginning of May it’s a key date. This year it brings Britain’s classic horse race, the St Leger. It’s also the day when, according to the old saying, investors should put their money back into the stock market after selling in May. There’s [...]
DailyFX Tips & Picks: Why the Eurozone’s problems haven’t disappeared May 5, 2014 IT’S HARD to imagine, but it wasn’t even two years ago that the potential for a break-up of the Eurozone was front page news. The euro was in a tailspin from May 2011 into July 2012, losing roughly 20 per cent of its value against the US dollar. Break-up scenarios emerged; difficult talk of abandoning [...]
DailyFX Tips & Picks: Analyst’s pick May 5, 2014 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Stay short euro-Aussie, short euro-dollar Expertise: Fundamental and technical analysis with risk management Average time frame of trades: A few hours to a few weeks We look to the ECB’s May policy meeting as a filler before the June meeting, at which the ECB will make adjustments to its [...]
We are stuck in a disastrous spiral of misplaced interventionism May 2, 2014 VICIOUS circles are the new normal in British politics. Bad, often economically illiterate, policies create poor outcomes; voters become angry; the opposition (and in some cases the government) responds with hopeless populist policies intended to alleviate the symptoms of the previous round of bad policies; the situation worsens; disenchantment with the establishment rises ever further. [...]
Why Miliband’s rent control plan isn’t just some harmless gimmick May 1, 2014 TO DEAL with the problem of escalating rents, Ed Miliband plans to introduce what amounts to a variation of “second generation rent controls” (SGRCs). Under SGRCs, landlords are free to set rent levels at the outset of a tenancy, but are restricted in their ability to raise them during the term. In Miliband’s specific version, [...]
How to use body language better in the workplace May 1, 2014 Adopting a “power pose” will give you a confidence burst LEGENDARY US entertainer Mae West said she spoke two languages – “English, and Body”. And while the oft-repeated line about communication being “93 per cent non-verbal” is now widely debunked, body language can make or break presentations and negotiations in business. A 2011 poll of [...]
Viacom confirms it’s buying Channel 5 for £450m | City A.M. May 1, 2014 MTV owner Viacom has agreed today to buy Channel 5, following an auction of the UK broadcaster which began last year. The £450m price values Channel 5 at around nine times last year’s reported earnings before tax, depreciation and amortisation. Viacom will be the first US firm to control a British public service broadcaster. Viacom’s [...]