Shock of Greek referendum sends financial stocks down November 1, 2011 FINANCIAL stocks led Britain’s FTSE 100 sharply lower yesterday, after the Greek Prime Minister’s call for a referendum on the bailout package agreed last week sent shockwaves through markets and heightened tensions over debt contagion. London’s blue chips fell 122.65 points or 2.2 per cent to 5,421.57, echoing similar falls across the globe as investors [...]
Torrent of EU news batters Wall Street November 1, 2011 US stocks tumbled yesterday after investors were blindsided by a surprise call for a Greek referendum on an EU bailout plan, casting doubt on the sustainability of the recent market rally. The S&P 500 has slid more than five per cent so far this week in moves reminiscent of the stomach-churning market swings seen over [...]
The Olympic Park uncovered: The secrets that lie hidden beneath its green surface November 1, 2011 COUNTDOWN TO THE LONDON OLYMPIC GAMES 2012 267 DAYS TO GO VISITORS to Stratford’s Olympic Park next year will be too busy attending magnificent sporting spectacles to give much thought to the work that was required to turn an East London industrial wasteland into a venue fit to receive the whole world’s attention. But Atkins, [...]
It’s not just the Eurozone: A trade crisis is growing. The G20 must show leadership November 1, 2011 THE crisis spawned in 2007 has in many ways come to resemble Hydra – the mythical many-headed serpent of Ancient Greece, which grew two new heads every time one was cut off – already last Wednesday’s Brussels Summit shows no sign of marking a true turning point for the Eurozone. And while the euro-crisis commands [...]
We need to teach financial literacy in all UK schools November 1, 2011 IT IS significant the e-petition calling for compulsory financial education in schools has this week become one of the first petitions to reach the threshold of 100,000 signatures and that the All Party Parliamentary Group (APPG) on Financial Education for Young People is the largest in parliament, with 224 cross-party MPs. We are a financially [...]
Forcing others to obey is the issue, not greed November 1, 2011 MANY of those occupying Wall Street and the City of London object to corporate greed. Yet greed is usually harmless. For example, I may well be greedy. I would like to earn more despite already earning what many of the protesters would consider more than enough. But my greed is harmless because I cannot force [...]
RAPID RESPONSES November 1, 2011 Simply complex In response to Gemma Godfrey [The EU’s decision process: It’s not rocket science, on Monday], I think we’ve outlived a time where the world economy worked mostly in a linear fashion that’s easy to grasp and extrapolate (e.g. if exports grow by X per cent, and unemployment falls by Y per cent, GDP [...]
Japan can’t scare off safe haven status November 1, 2011 THE yen will continue to strengthen against major currencies. No matter the actions of Japan’s authorities, attempts to bring it down are destined to fail. It is not as though Japan’s leaders haven’t been trying – the economy has been mismanaged for decades. But interventions and gargantuan government debt have done nothing to dissuade the [...]
DON’T TOE THE LINE OF CABLE COMPLACENCY November 1, 2011 LOOKING at the carnage that is the Eurozone today from the comfort of a Canary Wharf office, it is easy to feel superior. After all, the UK appears to be relatively immune to the chaos that’s currently occurring in European capital markets. With Greece “circling the drain” as some of my fellow analysts have so [...]
THE TIPSTER November 1, 2011 AFTER a month long rally against the dollar, the euro wiped out almost half the gains falling 440 pips in one day, with the news of a Greek referendum and the European Central Bank’s consideration in cutting rates looming large. The euro-dollar pair is in freefall and will take a strong bit of positive news [...]
