We need a new capitalist revolution: A young writer presents his provocative manifesto for free markets September 19, 2011 MORE people have climbed out of poverty in the past 50 years than did so in the 500 years before that. Life expectancies across the world have doubled in the last one hundred years. The global poverty rate has fallen from 25 per cent in 2005 to 12 per cent today. By 2015, it will [...]
US retail growth grinds to halt in August after slow summer September 14, 2011 HURRICANE Irene and low confidence made retail and food sales stagnate last month, according to figures released yesterday by the US Census Bureau. Advanced estimates indicate overall sales did not grow at all during August, compared to monthly growth of 0.3 per cent and 0.2 per cent in July and June respectively. Sales of vehicles [...]
Factory input costs fall but prices stay high September 9, 2011 Prices for manufactured UK goods stuck at a record high in August despite a fall in the costs of raw materials as fuel costs dipped, official data shows. Factory gate inflation stayed at July’s upwardly revised reading of 6.1 per cent, the highest annual rate since October 2008. Analysts had forecast a 5.9 percent increase. [...]
Why buying property is no panacea September 8, 2011 ANYBODY interested in the housing market and in trying to preserve their wealth in these uncertain times should take a look at a fascinating new book. Safe as Houses: a Historical Analysis of Property Prices is full of useful facts – and a stark reminder that investing in residential property isn’t as sure a bet [...]
Wm Morrison sales up on record customer numbers September 8, 2011 Supermarket chain Wm Morrisons has shrugged off the retail sector gloom to post an almost nine per cent rise in its pre-tax profits in the first half as a record number of shoppers visited its stores. Morrisons attracted 11.5m customers on average each week, adding 2.2 per cent to its like for like sales excluding [...]
Greene King cautious as pub food boosts its sales September 6, 2011 BRITISH pubs and brewery group Greene King said higher demand for pub food helped it partly offset the impact of cost inflation and lower consumer morale in the 18 weeks to 4 September, and reported a rise in like-for-like sales. “The trading outlook remains uncertain as UK consumers are having to cope with rising costs, [...]
Energy hikes lead inflation rise in OECD September 6, 2011 SOARING energy and food prices are hitting consumers across the developed world, claim figures out today. Data from the Organisation for Economic Cooperation and Development (OECD) show consumer price index (CPI) inflation increased to 3.1 per cent across all items in the 12 months to July. That is up slightly from three per cent the [...]
Why more QE would be wrong for UK September 2, 2011 IT is not looking good for the global economy, with manufacturing output slowing or contracting in most countries, including Britain. There is growing talk that the Bank of England could launch a fresh round of quantitative easing as early next week. If so, that would be a mistake. The British economy faces many challenges but [...]
Why more QE would be wrong for UK September 1, 2011 IT is not looking good for the global economy, with manufacturing output slowing or contracting in most countries, including Britain. There is growing talk that the Bank of England could launch a fresh round of quantitative easing as early next week. If so, that would be a mistake. The British economy faces many challenges but [...]
What Bernanke might dig up at Jackson Hole August 23, 2011 WHEN Ben Bernanke makes his speech at the Jackson Hole symposium on Friday, the markets will be hanging on his every word. Helicopter Bernanke picked up his nickname after referring to a Milton Friedman statement about using a helicopter drop of money to fight deflation, and market watchers will be listening for any sign that [...]