Why I’m bearish about house prices August 5, 2010 ONE of the big lessons of the recession – and of several previous downturns, including Britain’s crisis in the early 1990s and the secondary banking crisis of the 1970s – is just how important property is to modern economies. Bubbles in housing or commercial property are invariably devastating; they almost always take the economy down [...]
Expat Expert: the power of local knowledge July 22, 2010 THANKS to globalisation and modernisation, individuals now have unparalleled levels of choice when it comes to relocation overseas. And London remains an extremely popular destination for individuals looking to experience life in another country – not only is it a hub for transport into mainland Europe and across the Atlantic, it has also retained its [...]
Keep your pension in funds July 15, 2010 THE government this week announced that it will abolish compulsory annuitisation, giving millions of pensioners more flexibility in how they generate their income. Annuitisation by age 75 has technically not been compulsory since 2006, but the only other permissable option, an Alternatively Secured Pension, was so highly taxed upon death as to mean only 4,000 [...]
Mortgage overhaul hurts entrepreneurs July 15, 2010 NEWS that the Financial Services Authority (FSA) plans to overhaul the mortgage market may have left some entrepreneurs a little uneasy. From now on, to get a mortgage you need to pass an “affordability” check and self-certified mortgages will be banned. Business groups were quick to state the drawbacks of these plans: “Business owners who [...]
Thinking more inclusively can boost business June 28, 2010 Every entrepreneur I have ever met, and that’s quite a few, has expressed on some level exasperation with the public for not getting what they are bringing to life. The best ones focus on educating their audiences; the ones who never breakthrough drivel in their exasperation. To some extent, they are right. A car is [...]
Cameron to defend UK fiscal squeeze at summit June 25, 2010 David Cameron has defended Britain’s decision to implement the biggest fiscal squeeze in a generation as G20 leaders prepared to meet in Canada to discuss the global economy. Last year’s G20 unity on the need for coordinated action to support the world economy has started to falter as the recovery has got under way. Ahead [...]
BP disaster bill hits $2bn June 21, 2010 Oil giant BP has admitted that the cost of its response to the Gulf of Mexico oil spill has hit $2bn (£1.3bn) and it has paid out $105m in damages to those affected by the disaster. BP added in a statement that it rejected claims by its partner in the oil well, Anadarko Petroleum that [...]
The bike and car parts retailer who wants to own Britain on the move June 20, 2010 Halfords and its chief executive David Wild are having a good recession. Earlier this month, the bikes and car maintenance retail chain posted a strong set of full-year figures: pre-tax profits rose 42 per cent to £110m, while sales rose three per cent to £832m. The FTSE 250 business said the trend for healthy living [...]
Accountants are vital for boosting economies right across the world June 16, 2010 IT’S clear we are living in unprecedented economic times. Indicators from various sources – including the latest quarterly survey of ACCA members, the largest of its kind in the world – suggest “cautious optimism”, and no more, is appropriate. In 2010, the financial services sector continues to dominate all levels of debate, from its willingness [...]
Charles Stanley: No living wills June 8, 2010 SIR DAVID Howard, the former Lord Mayor and chairman of stockbroker Charles Stanley, yesterday warned that the Treasury’s proposals to introduce “living wills” for financial firms could cost the sector hundreds of millions of pounds in lost profits. Howard said the cost of such a move to Charles Stanley would be around £1m, meaning that [...]