Brace yourself for Euro recession December 10, 2012 YOU may as well enjoy the Christmas party season because I don’t see much festive spirit lasting into January. We knew things weren’t going to look pretty in Europe next year, but last week it was confirmed. Twice – just to make sure we’re convinced. At his last European Central Bank (ECB) meeting of the [...]
Analyst picks for 11 December 2012 December 10, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long dollar-yen, and long gold Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days With the Fed expected to announce a extension to QE3 or a new QE4 (similar to QE2), the US dollar could be under pressure soon. I’ve moved [...]
Get on your bike this Winter December 10, 2012 The weather may have taken a turn for the worse, but that won’t stop London’s hordes of cyclists from taking to the saddle. This means that, even more than usual, the right equipment and accessories are essential for life on the road. For jackets, no fit can match the sleek shape of Gore’s Bike Wear [...]
Coalition fails to cut red tape December 9, 2012 THE GOVERNMENT’S plan to slash red tape and free up businesses to grow has failed, a leading business group said yesterday, with regulatory costs soaring and ministers fighting a losing battle with the tide of EU regulation sweeping the country. City representatives and business campaigners called on the government to renew its efforts, citing rules [...]
Mario Monti to resign as Italy’s PM December 9, 2012 MARIO Monti shook the Italian political landscape this weekend, when he announced that he would resign as Prime Minister once the 2013 budget was passed, potentially bringing forward next year’s Italian election and leaving in question many of his unfinished reforms. Monti announced his intention to resign on Saturday, after losing the support of Silvio [...]
UK has G8’s highest taxes on sales and consumption December 9, 2012 CONSUMERS in the UK face the highest burden of sales taxes in the G8, data revealed this morning. Some 16 per cent of the total price of a representative basket of goods and services is taken in tax by the government, according to accountancy firm UHY Hacker Young, compared to 12.3 per cent on average [...]
How Londoners are driving away from the rest of Britain December 9, 2012 THOSE of us who work or live in London often have rather different habits than the rest of Britain. Transport is a case in point. No less than 51 per cent of the distance travelled every year by UK residents is as a car driver, and another 27 per cent as a car passenger. Rail [...]
Authorities agree plan to shut big banks December 9, 2012 THE NEXT time a major UK bank fails the British authorities will transfer debt and equity to a trustee over a weekend to stabilise the institution, allowing it to seamlessly continue to operate vital functions across the globe while protecting taxpayers, according to a report from the Bank of England. It and the US authorities [...]
What the other papers say this morning December 9, 2012 FINANCIAL TIMES Banks plan to move 3,000 from City Three global investment banks plan to move 3,000 City of London jobs to other UK cities and towns over the next few years, bringing respite to regional financial centres as they struggle against heavy job losses in banking and insurance. The moves by Bank of America, [...]
Businesses call for VAT cut to boost tourism December 9, 2012 SLASHING VAT on tourist industries could grow the economy without cutting tax revenue, a tourist campaign group claimed yesterday. Using the Treasury’s own economic models, the British Hospitality Association (BHA) found that cutting VAT by 15 percentage points on tourism-related sales would deliver a £2.6bn windfall to the Treasury over 10 years. This is because [...]
