Businesses are not out of the woods just yet January 13, 2010 DAVID HUDSON LONDON HEAD OF CORPORATE INSOLVENCY, BAKER TILLY WHILE businesses fail during recessions, many also fail coming out, having spent the cash reserves during the hard times that they so crucially need when they have to grow again to serve a more confident customer base, against revitalised competition. The underlying message of Baker Tilly’s [...]
Go against the grain and take a punt on the buck January 12, 2010 INVESTORS have found plenty of reasons to sell the dollar in recent months, including a terrible fiscal outlook in the US and a central bank that remains wedded to stimulus measures and low interest rates. Added to that list this week was a weak start to the US earnings season after aluminium producer Alcoa reported [...]
CHINA BUBBLE IS A RISK FOR YEN SHORTS January 12, 2010 BORIS SCHLOSSBERG DIRECTOR OF CURRENCY RESEARCH, GFT ASK FX strategists what their favourite trade for 2010 is and the chances are most will say long dollar-yen. The conventional wisdom in the forex market – despite last Friday’s disappointing US jobs data – is that US short-term rates will inch higher. Their choice of trade is [...]
Revaluation of the yuan bad news for the Aussie dollar January 12, 2010 PRESSURE has been building on China to let its currency, the yuan, appreciate against the US dollar, to which it is pegged. This week, these calls only intensified after China posted strong trade data, putting the country firmly on course to usurp Germany’s position as the world’s number one exporter. But while Beijing so far [...]
THE TIPSTER January 12, 2010 WHEN it comes to economic growth, China has been stealing the limelight in recent years. But India’s economy is also forecast to power ahead in 2010, with the IMF forecasting an annual growth rate of 6.4 per cent. The country’s more liberal environment (compared to China’s) should encourage investors into Indian assets and boost the [...]
Disappointing results from Alcoa rock mining stocks January 12, 2010 BRITAIN’S top share index closed 0.7 per cent lower yesterday as commodities and banks led the retreat over concerns that China’s move to tighten banks’ reserve requirements may slow global economic recovery. The FTSE 100 index closed down 39.36 points at 5,498.71, dropping back after hitting a 16-month intraday peak at 5,600.48 on Monday. China’s [...]
Banking levy hangs over S&P financials January 12, 2010 US stocks slid in a broad sell-off yesterday as investors pummeled financials on concerns about a potential government levy on banks, while Alcoa’s disappointing results tempered optimism about the economic recovery. The benchmark S&P 500 broke a six-day streak of gains as banks led the financial sector lower, sending the KBW bank index down almost [...]
Even in 2010, some gay lawyers say coming out can damage your career January 12, 2010 AN article counselling young gay lawyers on the tricky matters of etiquette for coming out at work includes the following advice: “Do take your significant other to the firm’s Christmas party… probably best to avoid getting heroically drunk and snogging to slow numbers”. Perhaps it’s no surprise that it has proved a controversial New Year [...]
FINES ALONE WON’T MAKE FSA CREDIBLE January 12, 2010 ROBERT FALKNER REED SMITH LLP LAST year the FSA began talking the talk, with a number of policy speeches about the need for enforcement to “deliver credible deterrence”. Indeed, 2009 was a record year for bank fines. FSA rules for the registration of directors and senior managers – persons holding significant influence functions – for [...]
UK insurers flourishing following a benign 2009 January 11, 2010 BAD weather is normally bad news for insurers, as householders claim for snow, flood and wind-induced problems with their homes. However, despite roofs leaking and boilers breaking down all over the UK at the moment , the non-life insurance sector is actually looking pretty attractive for investors. The insurance sector is poised to deliver returns [...]