CITY MOVES | WHO’S SWITCHING JOBS March 5, 2012 Warburg Pincus The private equity firm focused on growth investing has announced the appointment of Francesco Granata as an executive-in-residence, focusing on the healthcare sector. Granata will be based in Warburg Pincus’ London office, and will help the firm assess new investments in the biopharmaceutical sector. He has over 35 years experience in the pharmaceutical [...]
BEST OF THE BROKERS March 5, 2012 BABCOCK Panmure Gordon has upgraded engineering company Babcock to “buy” and raises its target price from 760p to 850p. The broker is impressed by last week’s £200m contract win with the Royal Australian Navy to provide support for the Navy’s eight Anzac class frigates, and has taken the decision to upgrade the target due to [...]
FTSE slides as miners hit by China’s cut in growth targets March 5, 2012 BRITAIN’S FTSE 100 fell yesterday, as weakness in miners and engineers outstripped strength in defensive stocks after China cut its growth forecasts, while mixed economic data in Europe and the United States dimmed the outlook for global growth. London’s blue chip index shed 36.31 points or 0.6 per cent to 5,874.82, although it held within [...]
Lower US markets led by commodities March 5, 2012 US stocks fell yesterday for the second straight session and the third in the last four trading days, led lower by basic materials shares after China trimmed its growth target for 2012. The S&P 500 index opened lower and data showing the US services sector expanded in February at its fastest pace in a year [...]
At home and abroad, we all need to be reminded of the moral virtues of capitalism March 5, 2012 I LOVE free market capitalism. The reason is simple: I hate famine, disease, misery, and oppression. I’m on a tour around the world to promote the liberating power of free-market capitalism. I’ve edited a book on the subject, The Morality of Capitalism, which is coming out in at least 16 languages. Last week I was [...]
Putting the UK in the black may be risky for Labour March 5, 2012 AN INTERESTING and important debate on fiscal policy is taking place on the left. It’s been described as “In the black Labour” and has been debated on the progressive website Policy Network. It’s about whether Labour should partly abandon its Keynesianism and go “fiscally conservative”. Its hardest advocates are sometimes called old Blairites, but the [...]
Fuel duty makes little sense as a carbon tax March 5, 2012 TOMORROW is National FairFuel Day, when people will lobby MPs to reduce duty on fuel. It’s a tricky issue for economists. Fuel duty demonstrates the standard economic response to a situation where social costs exceed private costs. If the price of a gallon of petrol fails to reflect the total cost of consuming such a [...]
RAPID RESPONSES March 5, 2012 National interest [Re: Taxing homes more isn’t the answer, yesterday] If we have to sell the land from under our feet, let’s at least extract the maximum possible price from those willing to buy it. We haven’t exhausted the ability or desire of foreign nationals to pay for UK property. Not to extract the maximum price [...]
Papering over the cracks – for now March 5, 2012 AFEW months ago, many market watchers were measuring the time until a full-blown disorderly Greek default with an egg timer rather than with a calendar. However, the risk of a Greek implosion – and the risk that such an event would drag the European financial system down with it – has lessened over the course [...]
CANADIAN DOLLAR SHOWS SOME PROMISE, AS AUSSIE DOLLAR HIT BY SLOWDOWN March 5, 2012 THE RESERVE Bank of Australia is expected to keep rates on hold at today’s meeting, but the news may prove cold comfort for the Aussie dollar-dollar pair as currency traders become increasingly concerned about the rate of economic growth in the Asia-Pacific region. As this week opened for trade, the Aussie was the weakest link [...]
