What the Eastleigh result tells us about the future of British politics March 7, 2013 THE Eastleigh by-election gave us a clear indication of what is likely to happen in 2015. True, the politicians and pundits have made some confusing noise – inevitable since Thursday’s result provided triumph for no party, but genuine comfort for them all. The Conservatives did not fall to crisis levels, and could theoretically recover enough [...]
World’s richest added to their wealth in 2012 March 7, 2013 MEXICAN telecoms tycoon Carlos Slim Helu has consolidated his position as the world’s richest man, adding $4bn (£2.65bn) to his family’s fortune in the last year, according to the latest Forbes list of billionaires. Slim, whose wealth has grown through his various mobile phone, financial and industrial companies, is now $6bn richer than the second [...]
Drop in migration is bad for Britain’s economic growth March 2, 2013 WEDNESDAY’S GDP figures confirmed that the UK economy shrank in the last quarter of 2012 – in large part because of the weakness of exports. So the government’s strategy of generating growth by rebalancing the economy towards investment (which is also weak) and exports is far from on track. But the government is at least [...]
New chair for Kazakhmys as earnings drop March 2, 2013 LONDON-LISTED Kazakh miner Kazakhmys posted a more than 30 per cent drop in 2012 core profit yesterday, excluding the impact of its share in rival ENRC, as weak prices hit revenue and failed to offset rising costs. The miner, which owns 26 per cent of rival ENRC, also said it might have to write down [...]
Shrinking populations will force nations to compete harder March 2, 2013 In the long run, Keynes used to say, we are all dead, meaning that we should care about fixing today’s problems regardless of any side-effects temporary solutions – such as increased borrowing – might eventually saddle us with. Like many of Keynes’ other soundbites, this one feels clever and self-evidently true – but in fact [...]
Bernanke vow on stimulus cheers Wall St February 27, 2013 NEW YORK REPORT US stocks rallied for a second straight day yesterday as Federal Reserve chairman Ben Bernanke reaffirmed his strong support for the Fed’s stimulus efforts, while the euro climbed after solid demand at an auction of Italian government debt. Data on US housing and durable goods added to bullish sentiment in stocks, with [...]
How a finance masters could land you a job February 27, 2013 Just don’t expect it to do all the work DEMAND for masters in finance graduates is rising. According to the latest data from the Graduate Management Admissions Council (GMAC), 39 per cent of employers will be looking to hire one this year, up from 32 per cent in 2012. And as competition for roles heats [...]
Forget Italy: Fiscal union is unlikely to mend the euro’s defective heart February 27, 2013 WHEN the European Central Bank announced last year that it would do “whatever it takes” to save the euro, many assumed the crisis was over. This week’s Italian election has already shown that an unexpected event could easily throw off balance Europe’s preferred solution. But there is a more important issue at stake. The Eurozone [...]
The end of too big to fail is fast approaching but there is more left to be done February 27, 2013 I AM a supporter of free enterprise, yet I represent an industry that has been the biggest recipient of a state bail-out in British history. It is something that critics of banks have never ceased to remind me. “Tell me,” said an old colleague, “why the banks’ profits are privatised, but their losses are nationalised”. [...]
Bank of Dave Two: How one man took on the FSA and won February 27, 2013 I NEVER wanted to be a banker. But back in 2008, my minibus company in Burnley had a problem. My customers were coming to me for new buses, and needed finance to buy them – as they had done for 20 years. As soon as the credit crunch hit, however, the banks suddenly stopped lending [...]
