Bill Gates: Thomas Piketty “does not give a full picture of how wealth is created” October 15, 2014 One of the world's richest men has given his analysis on the best-selling treatise on equality, Capital in the 21st Century, written by French economist Thomas Piketty. Billionaire Microsoft founder Bill Gates said in a blog post that he agreed with several points highlighted in the controversial book. Among these were that high levels of inequality [...]
Afren share price rises after firing CEO Osman Shahenshah and COO Shahid Ullah October 14, 2014 Afren's share price climbed by over 3.5 per cent yesterday after the oil company announced that its chief executive and chief operating officer (COO) had been sacked for gross misconduct following an independent review. The company had suffered a 30 per cent share slump when it suspended CEO Osman Shahenshah and COO Shahid Ullah [...]
Africa isn’t a country: Don’t judge this thriving continent by the Ebola crisis October 14, 2014 REPORTS of people cancelling safari holidays in Kenya and South Africa due to fears of Ebola (over 3,000 miles away in Guinea, Liberia and Sierra Leone) are the latest manifestation of the devastating impact on African economies wrought by the perception of Africa as one homogenous place. Nowhere else in the world would 54 countries, [...]
A rising populist politics of envy has the City in its sights: Banks must fight back October 13, 2014 LIFE could become even more difficult for the financial sector in the coming year. The fundamental forces shaping UK politics threaten an aggressive new round of regulation and taxation. These forces derive from a steady growth in envy and parochialism in politics, and the weakness of capitalist voices within the wider conservative movement. After the [...]
Carl Icahn tells Tim Cook: Apple share price dramatically undervalued October 9, 2014 Infamous activist investor Carl Icahn has published in full a letter to Apple urging Chief Tim Cook and board executives to buyback shares. Icahn tweeted yesterday about the letter to Cook hinting "Believe it will be interesting." In the letter, Icahn said Apple was "dramatically undervalued in today's market" and that "the more shares repurchased [...]
Enjoy a tranquil escape down the Mekong in Laos October 9, 2014 By David Leck It’s a short journey from Chiang Rai in Thailand to the north-eastern corner of Laos – and to a border crossing that evokes the days before the onslaught of soulless airports and mega-brand domination. Despite the recent opening of the “Friendship Bridge” spanning the Mekong River the small town of Houeyxai is [...]
It’s Laffable: Why hiking capital gains tax would only depress revenues October 8, 2014 THE LIBERAL Democrats have proposed raising capital gains tax (CGT) rates in order to reduce taxes on the least well off. Go to the back of the class! CGT is a bad tax implemented badly. There is no more revenue to be raised. The case against CGT on investments is overwhelming. Capital gains tend to [...]
Clegg: Lib Dem policy on airport expansion makes no sense to me October 7, 2014 LIBERAL Democrat leader Nick Clegg has admitted that his party’s decision not to back airport expansion in the south of England doesn’t make sense. His comments came after the decision, reached after a vote at the party’s annual conference in Glasgow, received fierce criticism from business groups, which wrote it off as damaging. John Cridland, [...]
Property in London: Is it a safe asset? October 7, 2014 Base rate hikes and a strong pound will dent prices, says Yogi Dewan THE EASY money in property markets was made a long time ago. That said, real estate remains the ultimate safe haven for many investors, as they consider it to be a better alternative to investing in global equities, government bonds or other [...]
Electra share price drops as shareholders fend off activist investor Edward Bramson and Sherborne Investors October 6, 2014 Electra shareholders have fended off a bid by activist investor Edward Bramson to join the private equity fund’s board at its annual general meeting today. The move sent shares in Electra down almost two per cent this morning. Bramson’s Sherborne Investors had sought backing for reform of the group, with the elusive investor telling shareholders [...]