Monti steps aside for Berlusconi to wreak euro havoc December 10, 2012 MARIO Monti’s announcement that he will step down as Italian Prime Minister, as soon as the budget law for 2013-15 is adopted, caught many off guard. But things had got to a point where Monti had little choice – he had effectively lost his majority in parliament after Silvio Berlusconi’s party withdrew its support. What [...]
Should the news that jobs are being moved to other UK financial centres worry the City? December 10, 2012 YES Douglas McWilliams Investment banks are planning to move 3,000 jobs from the City of London to other regional centres, which will be mixed news for the City. Past success in London has sustained high salaries and property costs, making moves to other UK centres economically viable. This is historic – property costs are likely to [...]
Rapid responses December 10, 2012 Classroom politics [Re: Lessons from Finland: How we can reform maths teaching in schools, yesterday] While I respect professor Burghes’s work, I disagree with his opinion. The greatest threat to maths education in Britain is not poor teachers or a rigid curriculum. It is the huge scale of recent political involvement in how children are taught. Standards [...]
Central banks inflate a new asset price bubble December 10, 2012 THE Bank of International Settlements (BIS) has warned that global asset prices are rising to levels not seen since before the 2008 crisis. This is despite the ongoing European sovereign debt crisis and the inability of the US to control its government spending and address its deficit woes. It comes at the same time as [...]
FTSE looks set to drop as global trends accelerate December 10, 2012 IT’S pretty much the same routine every December. The Christmas decorations go up, office parties are in full swing and market analysts are asked to pontificate on where they think the FTSE will finish at the end of next year. The problem is that the FTSE 100 is such a broad-based index that it can [...]
Concrete Returns? December 10, 2012 CONCRETE returns are expected from Travis Perkins when it updates shareholders tomorrow. The builders merchant recently joined forces with Cartrefi Cymunedol Gwynedd to supply materials for 6,300 new homes. Shares are just off their five-year highs, and a positive update may encourage traders to dig in and lift prices to a level not seen since [...]
Brace yourself for Euro recession December 10, 2012 YOU may as well enjoy the Christmas party season because I don’t see much festive spirit lasting into January. We knew things weren’t going to look pretty in Europe next year, but last week it was confirmed. Twice – just to make sure we’re convinced. At his last European Central Bank (ECB) meeting of the [...]
Analyst picks for 11 December 2012 December 10, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long dollar-yen, and long gold Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days With the Fed expected to announce a extension to QE3 or a new QE4 (similar to QE2), the US dollar could be under pressure soon. I’ve moved [...]
Get on your bike this Winter December 10, 2012 The weather may have taken a turn for the worse, but that won’t stop London’s hordes of cyclists from taking to the saddle. This means that, even more than usual, the right equipment and accessories are essential for life on the road. For jackets, no fit can match the sleek shape of Gore’s Bike Wear [...]
Italian and Spanish bond yields rise on Monti’s resignation announcement December 10, 2012 Italian and Spanish bond yields have risen dramatically in the wake of Italian Prime Minister Mario Monti’s resignation announcement over the weekend. 10-year borrowing costs in Italy jumped 36 basis points to 4.9 per cent, a two-week high, whilst Spanish bond yields increased by 18 basis points to 5.7 per cent. Alessandro Giansanti, senior rate [...]
