It takes more than well-intentioned legislation to truly help the poor October 1, 2012 THE government has just increased the UK’s minimum wage to £6.19 an hour for anyone over 21. Few readers of this newspaper would be able to live on such low wages, especially with the cost of living for essentials going up so much. But this doesn’t mean that increasing the minimum wage further is the [...]
The euro crisis has exposed Europe’s interest rate flaws October 1, 2012 THE Eurozone is currently engulfed in a combined banking and sovereign debt crisis that threatens to unravel the single currency. The good news is that the essential pieces of a lasting solution are well understood: a banking union, recapitalisation of key banks, some debt write-offs and an inevitable transfer of wealth from creditors to debtors. [...]
As Xstrata and Glencore move closer to a merger, is it a good deal for shareholders? October 1, 2012 YES Jeff Largey Commodities remain a growth story, and there is industrial logic behind a merger between the world’s leading commodities trading house and one of the world’s largest mining companies. The deal will create a vertically-integrated mining giant, with industry leading copper volume growth, and the ability to increase margins in Xstrata’s existing operations. [...]
Rapid Responses October 1, 2012 GDP manipulation [Re: Time for MPs to summon statisticians over endless revisions, Friday] This article misses the point. The problem is not with statisticians, but with politicians and the media (and through them, the markets). They all give disproportionate attention to GDP figures which are, inevitably, far from a precise reflection of what is really [...]
Brave traders may fancy a contrarian position on Spain October 1, 2012 THE Ibex 35 has become a whipping boy for traders to take out their Eurozone angst. Since the onset of the financial crisis, over 50 per cent has been wiped off its value. In 2012 alone, the Spanish index has shed 10 per cent. Against a backdrop of a meagre economy, going long on Ibex [...]
Euro-Dollar drama may continue into next year October 1, 2012 FX360 THE final quarter of 2012 is now well underway and, by all accounts, the single currency has been given something of a lift. What is more, this positivity has arrived against the backdrop of mounting belief that a Spanish bailout is now nothing more than a formality. It could be initiated as soon as [...]
The Tipster | Bookmaker to pay over the odds October 1, 2012 ATTENTION will be focused on William Hill this week. The UKs largest bookmaker has recently been told that a £350m offer for Sportingbet “significantly undervalues” the online sports betting company. With Sportingbet due to report tomorrow, investors will be closely monitoring whether William Hill is likely to pay over the odds. Spread Co quotes a [...]
Not all doom and gloom for UK banks October 1, 2012 WE ARE now more than four years on from the collapse of Lehman Brothers, and it is longer still since the taxpayer bailed out Northern Rock. In that time, there has been little good news for financials and for the UK banking sector specifically. Reinforced by Moody’s decision to maintain its negative outlook on the [...]
Analyst picks for 1 October 2012 October 1, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long Aussie dollar-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days A falling wedge (reversal pattern) may be in the works off mid-September highs. But a weekly close above $1.0350 this week must happen so that this can be fully [...]
Revlon celebrates 80 years of glamour October 1, 2012 Dita Teese swears by it and you’ll be hard pressed to spot Gwen Stefani not wearing it so you’ll be forgiven for thinking that red nail varnish has always been around. In reality, Revlon created the first one back in 1932, when the company launched. With the brand celebrating its 80th anniversary this year, it’s [...]
