Analyst picks for 8 January 2013 January 7, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short euro-Aussie and euro-dollar (pending) Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days At the end of December, I sold euro-Aussie at Au$1.2720 on the rationale that a resolution to the US fiscal cliff would push traders from lower yielding [...]
Coalition tinkering on family tax and pensions is too little too late January 7, 2013 THE foreword to the coalition’s mid-term review could have been written in the early 1970s. Perhaps this is not surprising. Policymaking tends to lack a sharp edge in coalition. Compromises must be made, and this can lead to bad decisions. Changes to student fees are a prime example. Most students will pay a lot more [...]
The dynamics of QE have set the Bank of England on an unintended journey January 7, 2013 SINCE the financial crisis, the Bank of England has made use of some highly controversial monetary policy measures to help the UK economy recover. The most recent was the chancellor’s decision to claw back £35bn of the interest payments the Bank of England made from its holdings of government bonds. This took several economists by [...]
Basel III extension is a pointless tonic to a deeper disease January 7, 2013 WHAT should discipline how much cash a business keeps aside to service its debts – what we might call its “liquidity buffer”? The answer’s pretty obvious: how much the debts are; how often they fall due; to what extent they can be called up early; how secure are the inflows from a business’s cash-generating activities [...]
As Gérard Depardieu flees to Russia, will the 75 per cent tax rate damage France? January 7, 2013 YES Emmanuelle Savarit François Hollande’s policy of a 75 per cent rate of income tax for top earners is already a disaster for the country’s image, and it will have a negative impact by reducing France’s economic competitiveness. France needs entrepreneurs and risk-takers to create wealth. Heavy taxation is unfair on talented people who create [...]
Rapid responses January 7, 2013 Broadband policy [Re: Think tank slams plan to splash out on UK broadband arms race, yesterday] This is an essential look at the UK’s costly and ineffective broadband policies. But it fails to recommend immediate policy changes that would result in much-needed, competition for fixed line and mobile internet access. Allowing wholesale internet service providers [...]
Get set for Europe’s finest boatshow January 7, 2013 The Tullett Prebon London Boat Show returns to ExCeL London from 12-20 January 2013 and promises to light up the capital with a stunning showcase of all things marine. The annual Show, this year situated within ExCeL’s South hall, is widely renowned for being the first place to see the newest marine innovations, designs and [...]
London Collections Men: day one January 7, 2013 The inaugural three-day showcase is back and bigger than ever AFTER A stellar debut last summer, London Collections: Men kicked off in style yesterday with David Cameron officially opening the festivities with a reception at Downing Street. This year’s event will showcase over 60 of the capital’s best menswear designers, cementing the capital’s position as [...]
Paris Saint-Germain chief says £570m deal justified January 7, 2013 PARIS Saint-Germain president Nasser Al-Khelaifi insists the football club’s contentious £570m deal with the Qatar Tourism Authority (QTA) is “justified” and should not fall foul of financial fair play (FFP) rules. Experts behind European governing body Uefa’s FFP regulations, which stipulate clubs’ losses for the period 2011-13 must not exceed €45 (£37m) if they want [...]
New bowling rules play into our hands, declares England coach January 7, 2013 ENGLAND bowling coach David Saker expects the latest rule tweaks to make them a more formidable force in one-day international cricket. Fast-bowlers will now be able to deliver two bouncers per over, rather than just one – a change that should suit England’s Steven Finn, Stuart Broad and Tim Bresnan. The only immediate drawback is [...]
