San Fran Fed wants fiscal boost January 10, 2012 Tax and spending policies must be changed to boost the US economy, John Williams, president of the San Francisco Fed, said yesterday. Moves to control the budget deficit “are essential in the long run” but are “damping the economy, not boosting it” currently, he said. Williams praised the steps the Fed has taken to loosen [...]
Low cost of migrants to services January 10, 2012 Immigrants impose a disproportionately low cost on the UK’s education, health, social and care services, according to research published yesterday by the National Institute for Economic and Social Research (NIESR). Their per capita consumption of public services is less than the population as a whole, particularly for those on student visas and economic migrants from [...]
CITY MOVES | WHO’S SWITCHING JOBS January 10, 2012 Hamilton Lane The independent private equity asset manager has expanded its global investment team by appointing Richard Hope as vice president in the London office. Hope will report to Jim Strang, who recently joined Hamilton Lane as a principal. Prior to joining the firm, Hope was a director at Alliance Trust Equity Partners, where he [...]
BEST OF THE BROKERS January 10, 2012 RECKITT BENCKISER Credit Suisse rates the consumer goods group “outperform” but has cut its target price from £40 to £38. The broker thinks Reckitt’s business model is still healthy, and that concerns over the sustainability of its margins have been overdone. The firm is suffering somewhat in Europe due to expanding rivals, though Credit Suisse [...]
Wall Street rises on earnings relief January 10, 2012 STOCKS climbed to a five-month high yesterday, led by materials companies after an upbeat forecast by aluminum company Alcoa and strong gains in bank shares. Alcoa posted revenue that topped expectations late Monday and gave a bullish outlook for the aluminium industry. The stock gave up early gains to end at $9.44, up 1 cent. [...]
Commodities spur FTSE 100 gains as banks bounce bank January 10, 2012 COMMODITY stocks led the FTSE 100 top share index higher yesterday, after Alcoa kicked off the US earnings season with an upbeat outlook and data from China lifted sentiment, while retailers rallied after some encouraging updates. London’s blue chip index rose 84.44 points, or 1.5 per cent to 5,696.70, making up for the 1.5 pe [...]
Our schools must be open to business so we can have a bright economic future January 10, 2012 NOW that pupils are back at school, it’s time to help them get down to business. One key question they need to be asked is: “Hands up who wants to go into business?” Their answer will not only shape the life chances of millions of young people, but will also have a dramatic impact on [...]
Facts must beat rhetoric in the earnings debate January 10, 2012 EVER since the Prime Minister announced his intentions to “crack down” on City cronyism and rewards for failure, something’s become very clear – there are an awful lot of people talking an awful lot of rubbish about an awfully complicated subject. This doesn’t mean we shouldn’t talk about it – but we need to bring [...]
Cameron should follow Jesus on executive pay January 10, 2012 DAVID Cameron and Ed Miliband agree that corporate chief executives earn too much. If they earned less, the world would be a better place – or, more precisely, it would be a fairer place. The alleged victims of this injustice are those who earn far less. In an interview with the BBC on Sunday, Cameron [...]
RAPID RESPONSES January 10, 2012 High speed fail John Savin is right to slam High Speed 2 (HS2) [No recessions for 80 years: The fanciful world of High Speed Rail 2’s business case, yesterday]. And on top of the future uncertainty he highlights, there is past experience with high-speed rail. When High Speed 1 was completed at a cost of [...]
