Signs the US will steer away from fiscal cliff help to push FTSE higher December 18, 2012 BRITAIN’S share index rose yesterday, led by gains in risk-sensitive commodity issues on signs of progress towards a political compromise on the US fiscal cliff. The FTSE 100 closed up 23.75 points, or 0.4 per cent, at 5,935.90 but failed to hold above last week’s nine-month closing peak of 5,945.85 which was within 20 points [...]
Green energy subsidies are failing to deliver cheap low carbon power December 18, 2012 TODAY Parliament will debate the Energy Bill. With homes braced for a hike in bills – and nearly 5m in fuel poverty – the government wants to strike an affordable balance between the UK’s environmental credentials and its raw energy needs. If policy is to follow facts not fads, we need a decisive break with [...]
A Christmas quiz on the strange puzzle of recessions and unemployment December 18, 2012 IN THE holiday spirit, I’ve decided to run a quiz at the end of this column. I’m offering a bottle of champagne to the winner, and I’ll make the draw from correct entries on 31 December. A quiz about the economy is appropriate because there are so many puzzles about the subject. In the current [...]
French tax exodus accents London’s continued allures December 18, 2012 A GROWING portion of France’s professional population is finding Francois Hollande’s attack on success to be less than appealing. Recent months have seen high-profile figures relocating to Belgium, including France’s richest man Bernard Arnault and actor Gerard Depardieu. And an increasing number are making the short hop on Eurostar to London, which now has 300-400,000 [...]
Will workers and businesses benefit from plans to cut the redundancy notice period? December 18, 2012 YES NEIL CARBERRY This is a sensible move that works in the interests of businesses and employees. When the tough decision to lay off staff has to be made, it is right to consult. But there is no reason to force businesses to delay critical decisions or to leave staff in limbo for three months. [...]
Rapid responses December 18, 2012 Corporation tax [Re: Politicians are powerless to curb our shrinking corporate tax base, yesterday] Douglas Carswell argues that, through international property migration, it is unavoidable that big corporations will mitigate their tax liabilities. But the sad consequence is that the only people who end up paying more is us, the financially immobile taxpayers. Something must [...]
Japan is ready to try anything to weaken yen December 18, 2012 JAPAN’s Liberal Democrat Party (LDP) emphatically took control of the country’s lower house on Sunday. The outcome was anticipated by currency traders, who expected the dovish LDP leader Shinzo Abe to walk into the job of Prime Minister, becoming Japan’s seventh leader in as many years. Although many believe that the LDP’s victory heralds a [...]
Uefa will ban clubs if it has to, says chief December 18, 2012 SPOTLIGHT ON financial fair play in FOOTBALL ONE OF Uefa’s top executives has told City A.M. that European football’s governing body will not shy away from banning clubs if they flout financial fair play (FFP) rules. Karen Espelund, one of president Michael Platini’s 15 executive committee (ExCo) members, said Uefa “cannot say ‘A’ and not [...]
Top flight cap on wage rise next season December 18, 2012 A CAP on Premier League clubs’ wage bill increases could take effect as soon as next season after chairmen agreed to pursue two-pronged cost-cutting plans yesterday. Proposals to introduce a break-even rule similar to European financial fair play requirements remain under discussion ahead of a likely vote in February. But while that could take years [...]
Europe’s Miracle at Medinah, the rise and rise of McIlroy: 2012 has been a vintage year December 18, 2012 THIS year was a vintage one but two stories stand out above all others: European golf’s finest hour at the Ryder Cup, and Rory McIlroy’s irrepressible ascent to the pinnacle of the game. The Ryder Cup contained a countless number of spine-tingling highlights as Jose Maria Olazabal’s Europe surged back on the final day to [...]
