National debt goes up as income tax takings drop June 26, 2012 THE UK’S public finances took a hammering last month, according to data released yesterday by the Office for National Statistics (ONS). A budget deficit of £17.9bn for May pushed the net national debt to £1.013 trillion, hitting 65 per cent of GDP. Just one year ago, net debt stood at the comparatively low figure of [...]
Falling tax receipts show that we’ve forgotten Laffer’s lesson June 26, 2012 SOMETHING very worrying is happening to the UK’s public finances. Income tax and capital gains tax receipts fell by 7.3 per cent in May compared with a year ago, according to official figures. Over the first two months of the fiscal year, they are down by 0.5 per cent. This is merely the confirmation of [...]
JOBS of the WEEK June 20, 2012 HR MANAGER LONDON £55k-£75k pa, plus bonus and benefits An asset management firm requires an HR manager to take control of its UK region. Applicants to this new position must have a strong generalist skill set and experience of financial services. http://www.cityamcareers.com/job/16538 PRODUCT LITIGATION LAWYER LONDON £90k-£130k pa A niche litigation and insurance practice requires [...]
Why Germany could eventually lose patience with the euro June 18, 2012 FORGET about Greece, Spain or even Italy. And no, I haven’t gone mad: if somebody ends the euro, it will be Germany. This would be a great paradox. So far, Germany has been the big winner from the single currency – but it may soon find that the costs of membership are becoming greater than [...]
UK received no corporation tax from Vodafone June 10, 2012 VODAFONE, one of the FTSE 100’s biggest companies, did not pay a penny of corporation tax in the UK last year. But the telecoms giant said it makes it main contribution to the UK economy via investment rather than taxes. “Last year, Vodafone’s UK capital expenditure went up from £516m to £575m – which means [...]
Johnson Matthey proposes a special dividend as profit lifts June 7, 2012 JOHNSON Matthey, the world’s largest supplier of catalytic converters, yesterday posted larger than expected profits and proposed its first ever special dividend. The company was buoyed by sales of trucks in North America and more diesel cars in Europe. Johnson Matthey, which makes catalysts to convert toxic engines emissions, sells pharmaceutical ingredients and refines platinum, [...]
A CFD strategy to hedge losses in a broader portfolio June 5, 2012 RECENT falls in the FTSE 100 index, from highs of close to 6,000 in mid-March to its current position under the 5,300 mark, may have spooked some investors. However, it is possible to hedge losses in your equities. By using contracts for difference (CFDs) as part of a short-term hedging strategy, traders can minimise their [...]
ANALYST VIEWS | WAS WOLSELEY’S THIRD QUARTER TRADING PERFORMANCE IN LINE WITH EXPECTATIONS? May 29, 2012 CAROLINE DE LA SOUJEOLE SEYMOUR PIERCE As expected Wolseley’s third quarter trading performance was a mixed bag with continued high growth rates in North America and Europe still lagging: UK is still declining but the trends are improving…we leave our 2012 numbers unchanged, expecting adjusted EBIT of £647m and adjusted profit before tax of £587.3m. [...]
Wall St edges higher in last minute swing May 24, 2012 US stocks ended slightly higher in a third session marked by late day swings yesterday, but the Nasdaq fell after NetApp gave a weak revenue forecast, casting doubt on the outlook for tech spending. Major indexes were lower for much of the session, as investors found little reason to buy following three days of gains. [...]
The beautiful Balearic bubble May 24, 2012 WITH Spain poised to need a bailout, is this a foolish time to think about buying a dream home in Mallorca, Ibiza or Menorca? Not necessarily. Michael Cunnington, of MJC Associates, the Savills Agents in Mallorca, says: “The honest answer is that we still have traffic and people inquiring in the top end but buyers [...]