The real reason for London’s prosperity January 11, 2010 AT least three times since the 1960s, the City has been saved by the stupidity of others. London’s economic prominence is partly home-grown, of course, not least thanks to the free-market reforms of the 1980s. But a key driver of the City’s survival and subsequent triumph has been its ability to mop up industries fleeing [...]
ABI calls for restraint on executive pay packages January 10, 2010 DIRECTORS at Britain’s largest banks have been warned against tarnishing their reputations by developing schemes to exempt top earners from higher income tax. The Association of British Insurers, whose members own nearly a fifth of the stockmarket, said it “would not be able to approve” salary structures that focused on avoiding the forthcoming 50 per [...]
Retail is a sell as customers desert the UK’s high streets January 10, 2010 THE BRITS lived up to their reputation as a nation of spenders and splashed their cash with abandon over the festive period. Major retailers swept up and some, like fashion chain Ted Baker, saw sales rise 20 per cent in the latter part of 2009. John Lewis, Next, Marks & Spencer and J Sainsbury also [...]
Trades to suit all views and risk levels for the year ahead January 7, 2010 THE LAST couple of years have been a rollercoaster for investors, and while 2010 is not shaping up to be quite so unpredictable, there are certainly some bumps in the road ahead. It’s just the sort of environment where covered warrants come into their own. For one thing the most you can lose is your [...]
Trades to suit all views and risk levels for the year ahead January 6, 2010 THE LAST couple of years have been a rollercoaster for investors, and while 2010 is not shaping up to be quite so unpredictable, there are certainly some bumps in the road ahead. It’s just the sort of environment where covered warrants come into their own. For one thing the most you can lose is your [...]
Data boosts hopes that UK slump is over January 6, 2010 HOPES that the UK recession ended in the last quarter of 2009 were boosted yesterday by service sector data for December showing the strongest growth in new orders in over two years. The latest survey of purchasing managers in services companies, the so called “engine room of the UK economy”, showed activity edged up to [...]
It will be easy to lose money this year December 17, 2009 ONE of the great paradoxes of 2009 was that economic meltdown went hand in hand with strong gains for many investors. After a disastrous few months when everybody was pricing in the end of civilisation, stock markets bounced back, house prices started to rise again and many traders made vast returns. As I wrote yesterday, [...]
Bank jitters and commodity weakness hits London stocks December 17, 2009 Jitters in the financial sector prompted by tough new proposed regulations sent banks sliding yesterday while commodity stocks also retreated on weaker raw material prices, pulling the FTSE 100 down 1.9 per cent by close. The FTSE 100 closed down 102.65 points at 5,217.61, having closed 34.49 points, or 0.7 per cent, higher on Wednesday [...]
Nobody should ever be bailed out again December 15, 2009 CAPITALISM only really works when success is rewarded and failure punished. So as the New Year approaches, here is a radical suggestion: let us usher in a new era of personal responsibility. Let 2010 be a year of no bailouts, no handouts, no bleating and no more blaming everybody else for one’s own mistakes. This [...]
FTSEdrops as windfall tax worries offset mining gains December 7, 2009 Britain’s top shares ended 0.2 per cent lower yesterday, with banks weak on concerns over a possible windfall tax, offsetting modest gains in miners and energy stocks which rebounded from earlier losses. The FTSE 100 closed 11.70 points lower at 5,310.66 points, paring some losses from earlier in the session when the index dropped to [...]