London 2012 proved the absurdity of restrictions on Sunday shopping August 13, 2012 THE economy is in a mess. Business confidence is low, unemployment remains high and underemployment means that many who are officially in work are struggling to get by on a part-time wage. The entire country is engaged in a hunt for growth. And yet, in some circumstances, businesses are forced to shut their doors in [...]
Drunk in charge: Outsourcing responsibility doesn’t make better judgement August 13, 2012 I WAS recently waiting at the port of Dover and noticed that the newsagents were advertising road safety equipment. I’ve driven in France before, and already have a first aid kit, emergency warning triangle and high visibility vest. But they were now advertising breathalysers. My immediate instinct – as a law-abiding adult – was to [...]
British aid policy is harming those it seeks to rescue August 13, 2012 TO TOP off a successful Olympics, David Cameron put London’s time in the global spotlight to good use by hosting a Hunger Summit at Downing Street, with the aim of tackling malnutrition in the developing world. Unfortunately, yet again, Cameron’s government failed to go the distance. Sunday’s outcome gave no indication of any shift in [...]
Is the Bank of England’s Adam Posen right to suggest expanding QE beyond gilt purchases? August 13, 2012 YES Will Straw Last year, Adam Posen stood alone on the Monetary Policy Committee in predicting that Britain’s recovery was faltering. Now we’re back in recession, his advice on unconventional quantitative easing (QE) should be heeded. QE has been a modest success in preventing the economy from slipping into a depression. And, despite siren warnings, [...]
Rapid Responses August 13, 2012 Running from tax [Re: Olympic champion Usain Bolt shuns London over tax fears, yesterday] With the closing ceremony ringing in our ears, so too is Usain Bolt’s concern about competing in the UK due to tax. The OECD model tax treaty allows the income of sports people from “personal activities” to be exempted from tax. [...]
Equity Indices reliant on Central Bank Action August 13, 2012 LIKE a petulant schoolchild, it’s about this time in the summer holidays when the equity markets run out of steam and sit around lethargically complaining of boredom. Yesterday was a slow trading day, with all exchanges seeing their lowest volumes of 2012 so far. “With most of the FTSE 100 biggies having reported already, any [...]
Sterling could win from London’s Olympic success August 13, 2012 FX360 HOSTING the Olympics is an honour for both the city and the country where it is held. One of the major benefits is the financial investment – sporting facilities are built or upgraded, public transport is overhauled, and businesses flock to the area. But what happens after the stadiums empty and the medals are [...]
THE TIPSTER | Talvivaara wants to finish a bad Run August 13, 2012 SHAREHOLDERS of Finnish miner Talvivaara won’t like looking at a chart for the year – it shows a continuation of 2011’s sharp downtrend. The share price has recently plunged to new depths. Continual forecast downgrades and worries about commodity prices have hurt the stock, and it will take a significant turnaround in outlook for the [...]
Trading on your relative strength August 13, 2012 YOU will often hear a stock or instrument being described as overbought or oversold. However, neither has a definition that is set in stone. You could have the most flea-bitten company listed on the London Stock Exchange and it could still be oversold and worth a buy. On the other hand, household names, such as [...]
Analyst picks for 13 August 2012 August 13, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short Aussie-dollar and Aussie-Kiwi dollar, long dollar-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days Shorts were added to my existing Aussie dollar-dollar position, raising the average to $1.0585. The commodity currencies (the Australian, Canadian and New Zealand dollars) appear [...]
