HMV’s demise shows why even giant firms have feet of clay January 14, 2013 SO that’s it, then: HMV has finally gone into administration, the latest, most tragic victim of the revolution that is sweeping away erstwhile giants. This comes just days after Jessops, the camera firm, was liquidated, and after the demise of Comet, the electrical retailer. So who’s responsible? Quite simply, all of us. Consumers are all-powerful, [...]
FTSE mettle is tested by slump in commodities January 7, 2013 AS THE markets settled into the first full week of trading of the year, the FTSE had its 2013 bull run checked, dropping 17 points yesterday. The commodity and miner-heavy benchmark index had been pushed to multi-year highs by the effects of a global risk-off sentiment, with the FTSE breaking the psychologically significant 6,000 level [...]
Vodafone faced with $2.5bn tax demand from Indian authorities January 7, 2013 VODAFONE’S tax dispute with the Indian government has escalated, with the country’s authorities repeating calls for the telecoms giant to pay $2.5bn (£1.6bn) India claims it is owed. The company said this weekend that Indian tax authorities had sent a reminder to Vodafone, demanding it pay the sum, relating to 2007’s purchase of Hutchison Whampoa’s [...]
Worries over fiscal cliff give way to concerns about latest US earnings January 7, 2013 INVESTORS’ fiscal cliff worries are likely to give way to more fundamental concerns, like earnings, as fourth-quarter reports get under way this week. Financial results, starting tomorrow with aluminum company Alcoa, are expected to be only slightly better than the third-quarter’s lacklustre results. As a warning sign, analyst current estimates are down sharply from what [...]
Brave start-up entrepreneurs may be set for a positive 2013 January 7, 2013 LAST year’s employment market was characterised by insecurity, scarcity of supply, and job losses in once buoyant sectors. Previously good reasons for staying in a City job could now be gone. While an uncertain jobs market may not be incentive enough alone for you to take the equally difficult path into entrepreneurship, according to Stuart [...]
Analyst Views | What does this mean for the world economy? January 2, 2013 KEVIN BURROWES PWC UK banks will breathe a sigh of relief today as the threat of the biggest economy slipping back into a recession diminishes.” KIT JUCKES SOCIÉTÉ GÉNÉRALE 2013 GDP growth is now likely to be 2–2.5 per cent, and the chances of [second half] growth exceeding three per cent are significant.” DAN MORRIS [...]
Fiscal cliff deal is no grand bargain to save the US from growing debts January 2, 2013 WHILE revellers in New York greeted 2013 with renditions of Auld Lang Syne, Washington reflected on a year of fierce partisanship and brutal campaigning. But as the country welcomed in the New Year, so too came hopes of a new era of bipartisan co-operation, after a cross-party agreement passed the House of Representatives and the [...]
Fears over property tax hikes in US force a wave of high-value sales in run up to 2013 January 1, 2013 HIGH-VALUE property owners rushed to sell US dwellings at reduced prices in the days leading up to 1 January in a bid to avoid the tax increases introduced by the so-called fiscal cliff. The top rate of capital gains tax, which is included on real estate sales, was set to go up 8.8 percentage points [...]
FTSE 100 predicted to top 6,000 in 2013 despite US budget hangover January 1, 2013 BRITAIN’S FTSE 100 index closed down 27.56 points on the final day of 2012 trading as investors remained anxious over whether US lawmakers can agree crucial budget strategy and avoid the “fiscal cliff”. But despite the fall, to a close of 5,897.81, analysts predict the blue chip share index will rise 8 per cent by [...]
Doddering fiscal cliff talks prevent FTSE from jumping towards 6,000 December 20, 2012 BRITAIN’S top share index steadied around nine-month highs yesterday, pausing within reach of the 6,000 points mark. Investors were discouraged from pushing the market too much higher by the lack of progress by US politicians on a deal to avoid a “fiscal cliff” of planned tax hikes and spending cuts that threatens the health of [...]