FTSE driven lower by collapse of BAE’s mega-merger with EADS October 10, 2012 GLOBAL growth worries prodded Britain’s top share index lower yesterday as a failed merger with a French peer hurt shares in defence and aviation firm BAE Systems. London’s blue chip index closed down 33.54 points, or 0.6 per cent, at 5,776.71 as volumes on the index remained light as whole, just 88 per cent of [...]
Chevron profit warning drags Wall St lower October 10, 2012 US stocks fell yesterday, a day after the earnings season opened with Alcoa posting a quarterly net loss and Chevron saying profits would fall sharply in its most recent period. After hitting lows in the early afternoon, stocks briefly trimmed losses after the Federal Reserve said in its Beige Book report that the economy was [...]
Competition for scarce resources may bring the West to a standstill October 10, 2012 THERE are limits to growth. Extra economic activity in emerging economies can lead to less growth for us in the West. At least partly, global economic growth is a zero sum game. Restrictions in the supply of minerals, energy, food and water mean growth is likely to be constrained. If we are lucky, world growth [...]
Alarm bells for Obama: Romney’s debate win could leave him top of polls October 10, 2012 BEFORE last week’s bout between Barack Obama and Mitt Romney, the Washington Post interviewed a number of prominent political scientists on whether presidential debates mattered. The general consensus was “no”, that “few noticeable changes” occur in polling after the debates. Nate Silver, the New York Times’s number cruncher, claimed that if Romney made any gains [...]
Cameron’s strong speech appeals to conservative base October 10, 2012 MANY conservatives are sceptical of David Cameron’s “modernisation” of the party. It’s easy to forget, but back in 2007, the modernisers told colleagues that the economics was settled and the party should instead focus on other issues, like green energy and international development. The party leadership agreed to match Gordon Brown’s spending plans, and shunned [...]
Is the FSA’s move to relax capital rules for British banks good for the UK economy? October 10, 2012 YES Simon Hills This is a logical and welcome step. An adjustment of the regulator’s capital and liquidity buffer requirements, that takes into account the Funding for Lending Scheme and the Expanded Collateral Term Repo facility introduced in June, will help banks lend to their customers. Put simply, capital and liquidity buffers would be ineffective [...]
Rapid responses October 10, 2012 Counterfeit analogy [Re: Robust copyright is invaluable for a thriving economy, Wednesday] In defending copyright, Dominic Young compares copyright to money, arguing that although it is technically quite simple to do, money only works because copying it is illegal. Whatever the merits of copyright, Young’s analogy is deeply flawed. In its origins at least, money is [...]
Headhunting a headhunter can help boost your career October 10, 2012 THE recruitment profession has acquired a bad name over the past few years – a consequence of the commoditisation of the process, a decline in the quality of customer service and a shrinking of the jobs market. Committing to give a portion of your salary to a recruitment agency may be a hard pill to [...]
Jobs of the Week October 10, 2012 FX TRADING SUPPORT ADMINISTRATOR, CALIFORNIA $200k pa An FX trading support administrator is needed to work with global clients in the retail and institutional FX trading and brokerage markets. You will be keen to progress into management. http://jobs.cityam.com/job/31465 SENIOR OPERATIONAL TAX MANAGER, LONDON £80k-£100k pa A leading bank seeks a tax manager to lead advisory projects. The [...]
New offices were a safe bet for Coral October 10, 2012 THE ONE Stratford Place development is a 130,000 square feet grade A office complex, at the Westfield shopping centre in east London. The site is a stone’s throw away from the Olympic Village. Coral, the bookmaker, was the first occupier to move into the development. The company made the move from its former headquarters, about [...]
