Ouch. If you wanted to know exactly how expensive weak growth is to the economy, the Chancellor’s Autumn Statement has provided the answer. Crippling. Over the five years from 2011/2012 to 2015/2016, the Government will have to borrow £111bn more than had been expected just nine months ago. The reason? Because the Government will raise [...]
Archive for November, 2011
Autumn Statement 2011: tax crackdowns ‘all talk and no trousers’
George Osborne, Chancellor of the Exchequer, is expected to announce further measures to stop tax avoidance in his Autumn Statement today, following a series of crackdowns by HM Revenue and Customs. Necessary though these are to tackle the debt crisis, some accountants claim highly-publicised initiatives, including closer links with the UK Border Agency (UKBA) announced [...]
Pressure mounts on Europe as finance ministers meet
BRUSSELS (Reuters) – Euro zone finance ministers are to agree on Tuesday the details of bolstering their bailout fund to help prevent contagion in bond markets, under pressure from the United States and ratings agencies to staunch a two-year-old debt crisis. President Barack Obama pressed European Union officials on Monday to act quickly and decisively [...]
Conversations with History – Niall Ferguson
“The Ascent of Money” Niall Ferguson, Tisch Professor of History, Harvard University Conversations host Harry Kreisler welcomes Harvard historian Niall Ferguson for a discussion of his new book, “The Ascent of Money: A Financial History of the World.” In the conversation, drawing on insights from the biological sciences, Ferguson describes the rise and evolution of [...]
OECD warns of a deep depression as euro meltdown threatens global economy
By Hugo Duncan Last updated at 10:33 PM on 28th November 2011 Eurozone leaders were yesterday told that failure to tackle the crippling debt crisis could trigger a ‘deep depression’ around the world. The Organisation for Economic Co-operation and Development said meltdown in the single currency bloc was the biggest threat to the global economy. [...]
House prices fall ahead of tax hike on homebuyers
Government plans to increase tax on first time homebuyers next March should be scrapped, Britain’s biggest building society claims, as fresh evidence of falling confidence in the housing market emerges from Land Registry figures which show house prices fell 3.2pc last year. According to official figures based on property sales and Stamp Duty receipts, house [...]
The Crisis of Credit – by Jonathan Jarvis
www.ribi.biz An excellent video explaining the crisis of credit. This is something that Businesses Coaches, Business Consultants and Financial Planners will find useful to educate their clients. Presented by http – the Results in business Institute. Besides, its really well done! created by jonathanjarvis.com Check out his site!
Iceland wins in the end
The OECD has come very close to predicting a depression for Europe unless EU leaders conjure up a lender-of-last resort very quickly, and somehow manage to make the world believe that the EFSF bail-out fund really exists. Even if disaster is avoided, the eurozone growth forecast is dreadful. Italy, Portugal, Greece will all contract through [...]
OECD warns of worldwide depression if no action is taken over the euro crisis
In predicting a “mild” recession for the UK and the eurozone for this quarter and next in its latest economic outlook, the OECD stresses that this is assuming nothing untoward happens on the Continent, and that policy-makers take sufficient action to avoid disorderly sovereign defaults, a sharp credit contraction, systemic bank failures and excessive fiscal [...]
VOLTA FINANCE
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES ***** Guernsey, 28 November 2011 – Volta Finance Limited (the “Company” or “Volta Finance” or “Volta”) has published its Interim Management Statement. The full report is attached to this release and is available on Volta Finance Limited`s financial [...]