London Report: FTSE edges up despite drop in Barclays stock July 29, 2013 BRITAIN’S FTSE 100 edged higher yesterday, with healthcare and media sectors bolstered by transatlantic merger activity, helping outweigh a steep sell off in Barclays. Drugmaker Shire – long viewed as a takeover target – added 2.4 per cent after US generic rival Perrigo agreed to buy Ireland’s Elan for $8.6bn (£5.6bn). A proposed merger between [...]
New York Report: US shares fall as Fed decision due tomorrow July 29, 2013 US STOCKS fell yesterday, pulling back before this week’s Federal Reserve meeting that could signal when the Fed is going to begin reducing its bond purchases aimed at helping the economic recovery. Losses were led by the energy and financial sectors, with both the S&P energy index and S&P financial index down 0.8 per cent. [...]
World faces productivity challenge as ageing gloom hits equity markets July 29, 2013 OFTEN investors are so preoccupied with the short-term drivers of financial markets – like corporate earnings or central bank actions – that they forget about the long term. However, there are other significant factors – like demographics – which drive markets on both a long and short-term basis. Age, in particular, is a key determinant [...]
We need to break our unsecured banking system out of its Victorian past July 29, 2013 THE UNSECURED nature of the UK banking system has long troubled both me and my company, and we have discussed the situation with the Bank of England on several occassions. Concerns over bank capital positions have also recently been reignited. Barclays, which releases its half-year results today, is one of the banks identified by the [...]
Ruinous green policies mean rising profits for UK energy companies July 29, 2013 YESTERDAY the Energy and Climate Change Select Committee released a report arguing that energy regulator Ofgem should force energy companies to produce more detailed financial information. One of the members of the committee – John Robertson MP – told the BBC that he needed to be able to assess whether the profits of the energy [...]
Letters to the editor – 30/07 – Heathrow debate, Best of Twitter July 29, 2013 Heathrow debate [Re: Forget disastrous Heathrow and build a more efficient hub to London’s east, yesterday] The aviation debate shows no sign of abating. And despite all the arguments to the contrary, the cost, economic benefits, and practicality of a Heathrow extension still make serious consideration of other options borderline nonsensical. The alternatives are costly, [...]
CNBC Comment: Ethical vigilance isn’t easy for Church July 29, 2013 MANAGING God’s money would test the patience of Job. The archbishop of Canterbury discovered this last week when his attempt to take on payday lender Wonga exposed the Church of England to accusations of hypocrisy. Justin Welby locked horns with Wonga because the company’s interest charges attract legitimate concerns. But what came next was the [...]
Daily FX: Analyst picks July 29, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Closed long Aussie-yen. Short Aussie-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks The bearish bias on the Aussie has been revived, and there are two main reasons to look short early this week: Chinese data has worsened since second [...]
Fiat’s 500L gets a rugged makeover July 29, 2013 With its practical appearance and off-road promise, the 500L Trekking is a town car that likes to get dirty The Mini Countryman doesn’t look much like the Mini hatchback, but customers don’t seem to mind. Mini’s SUV crossover is selling very well in the UK, appealing to a family market that wants something practical, with [...]
Not convinced by the Fiat 500l trekking? July 29, 2013 HERE ARE SOME ALTERNATIVES: Mini Countryman Cooper D AII4, £20,570 The entry-level diesel Mini Countryman One D doesn’t have off-road ability so if you’re after four-wheel drive, prepare to stump up £20,570 for the Cooper D All4, a hike of at least £1,000. That aside, the car is refined and has bags of grip on-road. [...]
