New York Report: Stocks fall as government standoff drags October 7, 2013 US stocks fell yesterday, extending two weeks of losses, as a lack of progress in ending the partial US government shutdown or the debt-ceiling standoff kept investors nervous. The S&P 500 ended near its lows of the session in a volatile day and dropped for its 10th time in the past 13 sessions. The CBOE [...]
A single income tax would simplify our excessively convoluted system October 7, 2013 TAX simplification is back on the agenda, thanks to Simon Walker, director general of the Institute of Directors. Highlighting combined marginal rates of child benefit withdrawal and income tax of 73 per cent for those with four children earning between £50,000 and £60,000 a year, Walker called for radically simpler taxes. “I am all for [...]
Why discretionary government action can often lead to contradictory policies October 7, 2013 WITH breakfast news littered each morning with groups demanding funds or interventions from politicians, it’s hard not to conclude that appetite for all-acting government is returning – perhaps explaining Ed Miliband’s recent radicalism. But using discretionary government actions to try to solve every negative outcome or demand creates problems, not least in that it leads [...]
Mark Carney: A report card on the governor’s first 100 days in office October 7, 2013 NAPOLEON said that he wanted lucky generals. He would have made Bank of England governor Mark Carney, who will reach 100 days in office this week, Field Marshall. Since July, UK economic data has been exceptionally good. The economy probably expanded 1 per cent in the third quarter, likely the fastest rate in the developed [...]
Letters to the Editor – 8/10 – Housing supply, Flat tax, Best of Twitter October 7, 2013 Housing supply [Re: London Report: House prices set for high point as market surges, yesterday] David Cameron’s flagship housing scheme – allowing buyers to pay 5 per cent for a deposit on a house – is a reckless policy. The problem in our housing market is a supply-side one, which Help to Buy won’t address. The [...]
More volatility expected as Republicans stand firm October 7, 2013 Liam Ward-Proud looks at the market implications of a continued stand-off in the US budget and debt ceiling debates AS THE US shutdown continues, with Republicans and Democrats also looking less likely to agree on raising the debt ceiling, markets are becoming increasingly jittery. The cost of insuring €10m (£8.45m) of one-year US Treasuries against [...]
CNBC Comment: Fresh concerns for America’s housing market October 7, 2013 BEN Bernanke and the US Federal Reserve have done all that mere mortals can do to repair the housing market post-financial crisis, but despite tarting up the mortgage industry like Cinderella for the ball, buyers are not jumping into the golden carriage to attend the best party ever staged. How can this be, when house [...]
DailyFX: Analyst picks October 7, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short dollar-yen from ¥97.75 Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks My long New Zealand dollar-dollar exposure was cut down at $0.8240 from $0.8165 for a modest 0.75 per cent gain, but my attention has shifted into “risk-off” FX [...]
Review: the new BMW 4 Series October 7, 2013 Whatever you think about the name change, this new coupé is fast, fun and excellent value for money I used to love Opal Fruits as a kid. I would dance about the lounge with a mouthful of them, humming the theme tune to the advert. Then, in 1998, they changed the name to Starburst and [...]
Not convinced? October 7, 2013 CHECK OUT THESE ALTERNATIVES… AUDI S5 PRICE: £59,350 0-62MPH: 4.5 secs TOP SPEED: 155mph CO2 G/KM: 149g/km MPG COMBINED: 49.6mpg The VERDICT: DESIGN Four Stars PERFORMANCE Four Stars PRACTICALITY Four Stars VALUE FOR MONEY Four Stars MERCEDES C-CLASS COUPE PRICE: £38,315 0-62MPH: 6 secs TOP SPEED: 140mph CO2 G/KM: 164g/km MPG COMBINED: 40mpg The VERDICT: DESIGN Three Stars PERFORMANCE [...]
