RAPID RESPONSES August 1, 2012 Sporting nations [Re: Entrepreneurial nations win big in medal tables, yesterday] Stefania Lovo raises some interesting thoughts in her article, but the truth is more complicated. Why, for example, have some large nations not won more medals? The answer is linked to cultural characteristics of each particular nation. Many countries provide winning athletes because they [...]
Happy birthday to the Commodore 64 August 1, 2012 MITS ALTAIR 8800 The first home computers came as build-it-yourself kits, led by the MITS Altair 8800, launched in 1975. The technology, which was later sold as an assembled unit, was the inspiration for future PCs. APPLE II The Apple I had already been released as a kit computer but the Apple II was where [...]
DEUTSCHE BANK PLOTS TO CUT LONDON STAFF July 31, 2012 DEUTSCHE Bank is slashing jobs and pay in an effort to control costs, the bank said yesterday as it revealed profits slumped by 50 per cent in the second quarter. Around 1,900 jobs are to go in the very near future, including 1,500 in its investment banking arm – much of which is based in [...]
SFO continues Tchenguiz case despite latest blow July 31, 2012 THE SERIOUS Fraud Office (SFO) said yesterday it will not back down in its pursuit of property tycoon Robert Tchenguiz despite facing further embarrassment over its most high-profile case. Search warrants used to raid the houses and offices of Tchenguiz and his brother Vincent in 2011 were deemed unlawful by the High Court, which ruled [...]
London is suffering as Olympic boost outweighed by losses July 31, 2012 SOMETIMES, we don’t need statistics to tell us what is happening to the economy. London during the past few days has been a case in point: the Olympics are a great success, of course, and those retailers and companies positioned to cash in (such as the Westfield Stratford shopping centre) are doing a roaring trade. [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 31, 2012 FINANCIAL TIMES Insurers warn on too big to fail plans Regulators’ plans to designate big global insurers as too big to fail could have unintended consequences that risk “destabilising the financial system”, an industry body has claimed. The Geneva Association said they might prompt insurers to cut holdings of government bonds as well as bank [...]
Positive US data gives Fed more food for thought July 31, 2012 SEVERAL positive reports on the health of the US economy provided a rosy backdrop to the start of the Federal Reserve’s latest policy meeting yesterday. The Fed will announce tonight whether its Federal Open Market Committee (FOMC) is to deliver even greater stimulus measures to try to kick start the US recovery. Worrying economic data [...]
Moody’s cuts UK growth forecast July 31, 2012 Ratings agency Moody’s has trimmed its growth forecasts for the UK due to the “rising challenges” faced by the coalition in reducing the country’s debts while the Eurozone crisis rumbles on. Moody’s, which has the UK on a negative outlook for its triple-A rating, expects the economy to grow 0.4 per cent this year, and [...]
Nomura set for slap on the wrist July 31, 2012 Nomura could face relatively light penalties following a leak investigation by Japan’s securities regulators. The investigators closed a three month probe into leaks of company share issuance plans in 2010 yesterday, and urged that the bank receive an order to improve its compliance practices, described by one expert as a “slap on the wrist”. The [...]
Apple stock split rumours mount July 31, 2012 Shares in Apple yesterday rose 2.6 per cent – their biggest jump in two months – on rumours the company could split its stock and list on the Dow Jones. Research firm Bernstein said Apple is considering the move following its recent decision to pay a dividend. The 30-member Dow Jones index has not been [...]
