VAT cut helped UK’s poorest October 31, 2011 The temporary cut in VAT in December 2008 benefited the poorest UK households more than the richest, according to the Office for National Statistics (ONS). The proportion of the poorest fifth of households’ income taken by VAT plummeted from 12.1 per cent in 2007-08 to just 9.8 per cent in 2009-10 – its lowest rate since 1991. The [...]
Irish tax draws foreign firms October 31, 2011 Despite its economic problems, Ireland’s relatively low corporation tax rate has maintained its appeal as a destination for foreign direct investment, a survey reveals today. Sixty-two per cent of polled US business leaders endorsed Ireland’s corporate tax rate as a key positive factor, compared to an average 30 per cent ranking for Western Europe.
Survey says birth month matters October 31, 2011 Children born at the end of the academic year are at a disadvantage right the way through to adulthood, according to a study from the Institute for Fiscal Studies. The Nuffield Foundation-funded study found August-born children are 20 per cent less likely than those born in September to attend a top university.
CITY MOVES | WHO’S SWITCHING JOBS October 31, 2011 Fat Prophets The independent research and fund management specialist has promoted David Thang from senior technical analyst to senior trading strategist. Thang joined Fat Prophets in 2009 as senior technical analyst in Australia. He started his career in Melbourne at Goldman Sachs JBWere in the institutional equities and money market proprietary traders division, before moving [...]
BEST OF THE BROKERS October 31, 2011 INVESTEC Goldman Sachs rates Investec “buy” with a 533p target price as it believes the wealth management group has been unjustifiably hurt by risk aversion, despite shifting its business model towards asset and wealth management, which give it more stable income streams and now constitute about half its revenues. About 70 per cent of its [...]
Weaker mining and energy prices drag the FTSE down October 31, 2011 BRITAIN’S top share index fellback yesterday, led by weaker miners and energy issues, as commodity prices retreated under the influence of a firmer dollar and worries over demand from China, with banks also under pressure after recent gains. Miners and integrated oil stocks took over 30 points off the UK blue chip index, as they [...]
Winning month in US ends on a low October 31, 2011 WALL Street closed its best month in 20 years on a down note yesterday as the failure of trading firm MF Global Holdings and new worries about Europe’s debt crisis hammered financial shares. In a sign that Europe’s woes were far from over, Italian and Spanish bond yields soared, prompting the European Central Bank to [...]
Violence is down and partly thanks to trade: A scientist explains his bold new thesis October 31, 2011 Q.CAN YOU DISTIL THE ARGUMENT OF YOUR NEW BOOK? A.Violence has declined, on many scales of time and magnitude, with reductions unfolding over periods stretching from millennia down to just a few years. That’s true for everything from warfare and genocide to our treatment of children and animals. What is some of the evidence for [...]
Migration policy needs a rest, not constant change October 31, 2011 IT IS no secret that the government’s work permit policy, especially the cap on migration, has not always been welcomed by business. Economists and employers can see that a strong economy comes from a strong, flexible workforce. The skills needed by UK businesses are not always available here, so employers need to look abroad. And [...]
Easy credit may teach hard economic lessons October 31, 2011 ONE thing about public opinion I fail to understand is this: people understand that easy credit was a cause of the financial crisis, so why are policies that make credit easier popular? George Osborne’s credit easing plans for small businesses are noble in that these firms are indeed the lifeblood of the economy. But it [...]
