This economist believes we shouldn’t bail out the banks: Let their lenders pay instead October 10, 2011 OVER the weekend, the nationalisation of Dexia Belgium was announced, with other parts of Dexia being broken up. On Monday, the nationalisations of a Greek bank (Proton) and a Danish bank (Max) followed. Full-blown Greek default is now imminent, the US and Eurozone economies appear to be in a soft patch, if not yet a [...]
Hong Kong has a budget surplus – the UK could too October 10, 2011 WHEN Vince Cable arrived too late to hear Hong Kong chief executive Donald Tsang speak at a special dinner in London three weeks ago, some suggested he was saving face. Indeed, where would Cable have looked while Tsang was expounding on Hong Kong’s HK$71.3bn (£5.84bn) budget surplus? How does it feel to be the representative [...]
Watch what you wish for from the QE genie October 10, 2011 I CRITICISED quantitative easing (QE) early last year on the grounds that “the conditions under which QE would be rehabilitated aren’t clear”. With the start of another round of QE in the UK this week, my fears are being realised. I can understand the objectives behind QE – that central banks have a responsibility to [...]
RAPID RESPONSES October 10, 2011 How to cut the EU The EU has an opportunity to wrong foot its detractors with its next seven-year budget, which is starting to be negotiated. The signs, however, are not good. The European Commission and Parliament have proposed increases for 2012, of 4.9 per cent and 5.2 per cent respectively. The debate needs to [...]
UK labouring over any growth in employment October 10, 2011 BRITAIN’S Office of National Statistics (ONS) will tomorrow release its UK employment statistics for September. There are some who forecast an improvement, but a surprise isn’t altogether out of the question. After all, trading wouldn’t be any fun if you didn’t get the occasional shock result. While the UK labour statistics do not carry with [...]
DESPITE THE RHETORIC, EU DEBT WEIGHS October 10, 2011 AT the beginning of last week, equities were heading lower. On Tuesday, major US stock indices such as the Dow 30, Russell 2000, and S&P 500 traded below levels last seen at the beginning of August, although all three subsequently snapped higher on the same day. The S&P is now up over 8 per cent [...]
A week full of stock results: what to watch October 10, 2011 TO say we live in interesting economic times would be an understatement. Confidence is low and money is tight. And retail stocks often show investor nerves more prominently than other markets. But it isn’t all bad news: volatility in the market can serve to make the life of the spread better more exciting. So with [...]
THE TIPSTER October 10, 2011 GOOGLE has been under some pressure recently from two other US powerhouses in the shape of Facebook and Apple. Facebook is becoming ever more competitive in the advertising sector, while Apple is still leading the way with its tablet and phone devices. However, the launch of its new social media venture, Google Plus, will be [...]
Sketch and the art of the restaurant October 10, 2011 Q. What is Sketch’s relationship with art? A. Sketch wants to live with its time and this means engaging with art as a part of society today. Even if you don’t appreciate contemporary art – you need to have an eye on it and have a certain interest. Compared to some other restaurants we have [...]
Deep Frieze: our pick of art fair highlights October 10, 2011 Kiki Smith in the Sculpture Park Kiki Smith’s sculptures are metaphorical and visceral. Recent work has particular emphasis on creating images using techniques associated with women’s work, such as 19th-century needlework. She’s also exhibited in the Solomon R Guggenheim museum and the Metropolitan museum of art. Thomas Houseago Houseago’s sculptures are a must-see. The sheer [...]
