Rapid responses October 29, 2012 Tax nightmare [Re: How income tax has become such a nightmare for so many, yesterday] The main problem with Britain’s income tax system is that government gets larger with every tax rise. It’s about time we tried doing things the other way round. Jeremy Poynton Whatever problems our tax system causes, Labour would do nothing [...]
The impact on markets of devastating job cuts October 29, 2012 CORPORATES are wielding the axe, and blood is being spilt on both sides of the Atlantic. Bloomberg data reveals that US companies have announced 158,100 layoffs this year – up 23 per cent from 2011. But the problem isn’t isolated to the US. Ford announced 1,400 UK job cuts just last week and UBS, which employs [...]
Drug maker needs a high October 29, 2012 PHARMACEUTICAL giant GlaxoSmithKline will announce its third quarter trading results tomorrow. The drug maker has had a mixed year, and shares currently lie towards the middle of their 52-week range. GSK has appointed headhunters to find a replacement for Sir Chris Gent, who had been chairman since 2005, and traders will want details about when [...]
Australia could stumble as China looks uncertain October 29, 2012 FX360 OVER the last decade, the Australian economy has grown significantly. It’s become a key supplier of raw materials to the emerging Bric economies, and China has been at the heart of this demand. For a time, materials like iron ore couldn’t be shipped out of Australia fast enough to sate huge Chinese demand – [...]
The calm before the fiscal storm October 29, 2012 AS HURRICANE Sandy hits the eastern seaboard of the US, just how much will it rock the markets? And could it be a game changer for the presidential elections – now only a week away? According to an analyst note by the chief investment strategist of S&P Capital IQ, Sam Stovall, history says that hurricanes [...]
Analyst picks for 30 October 2012 October 29, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long New Zealand dollar-dollar and euro-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days Currencies like the Australian and New Zealand dollars have been quite resilient in the face of declining equity markets. This fits in neatly with my assessment [...]
Hirsutes you, sir October 29, 2012 The boom in male grooming continues apace – and according to Braun’s new ambassador Andrew Davis, it isn’t all about tapping into one’s inner metrosexual, despite what some brands would have you believe. You’ll be forgiven for not recognising Davis’ name, but if you’re a fan of the respective looks of Tom Cruise, Tinie Tempah, [...]
Cheap doesn’t always mean bad but be prepared for a challenge October 29, 2012 bottleopener@cityam.com THE £5 bottle of wine has long been a staple in everyone’s shopping baskets but that’s changing. Today’s 20 per cent VAT and the general impact of inflation is quickly making it nothing more than a distant memory. With that in mind, accompanied by six City A.M. readers, I set on a quest to [...]
Give Tequila another chance October 29, 2012 City A.M.’s resident cocktail expert Tequila has a bad reputation. The mere sniff of the spirit invokes Proustian recollections of nights out that went very bad. Many a youth has been misspent licking salt off the back of a hand, downing a shot of questionable tequila and sucking on a wedge of lime. It’s a [...]
Hurricane Sandy drags FTSE 100 down October 29, 2012 The FTSE 100 fell in early trading, spooked by hurricane Sandy which has already shut the US stockmarket. Financial and mining shares dragged the main blue chip index down in early trading, with Hargreaves Lansdown the biggest loser on the FTSE 100, dropping 3.95 per cent. Insurers were also big fallers on the stock market [...]
