Archive for Latest Finance News

Weak economic growth is the trade-off we’ll have to settle for

| November 14, 2012 | 0 Comments

Economic trade-offs in the past have been pretty clear. Policy settings would be eased during a recession to soften the landing, then restored to drive the recovery. Jobs would be lost, struggling companies go bust, and banks take heavy losses. The recession would act like a lethal dose, killing off the weak and clearing the […]

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Accountants identify tax reliefs under attack in Autumn Statement

| November 14, 2012 | 0 Comments

High earners should seriously consider making pension contributions before the Chancellor of the Exchequer presents his Autumn Statement on December 5, senior accountants say. George Bull, a partner at Baker Tilly, told me: “Fears that higher rate tax relief on pension contributions would be scrapped have proved misplaced in the past but there are good […]

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George Osborne should stop running after Guardian readers’ votes. He won’t get them

| November 13, 2012 | 0 Comments

George Osborne has written an analysis of why the Democrats won the US presidential elections in today’s Times (£). It gives a fascinating insight into the thought processes at CCHQ. A large part of the bulletin is devoted to the wisdom Barack Obama showed in recognising ($ 6 trillion late) that the debt and deficit […]

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Financial regulators drag their feet as victims die waiting for justice

| November 13, 2012 | 0 Comments

While all eyes are understandably on delays, buck-passing and bungling in the Jimmy Savile investigation, City regulators chose yesterday to bury bad news about another long-standing injustice. If that sounds harsh, then consider that a dozen years after Equitable Life pulled the shutters down, with 1m policyholders – many nearing or in retirement – suffering £3bn […]

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US to overtake Saudi Arabia in oil as China’s water runs dry

| November 13, 2012 | 0 Comments

It is official. The US will overtake Saudi Arabia to become the world’s top oil producer by 2017. The International Energy Agency (IEA) said in its world outlook for 2012 this morning that the US will be a net exporter of gas by 2020, with all the vast implications of abundant cheap gas for its […]

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If Greece’s default isn’t arranged by parliament, it will enacted on the streets with bloody consequences

| November 12, 2012 | 0 Comments

The Greek parliament passed an austerity budget yesterday, agreeing to a further €9.4bn of cuts including to all state salaries and pensions. Next year will see the economy shrink for the sixth consecutive year according to government forecasts, declining a further 4.5pc. Unemployment is already at 25pc and, despite spending cuts, state debt will hit […]

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House prices: Warren Buffett bets on recovery

| November 10, 2012 | 0 Comments

  Five years after house prices began to fall in America – and more than two decades after the biggest property bubble ever burst in Japan – Warren Buffett, one of the most successful investors in the world, is betting on recovery. Fortunately for British investors keen to gain some exposure to international real estate, […]

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Delay retirement and live longer, experts say, but dead comedian disagreed

| November 9, 2012 | 0 Comments

Never mind four more years for Barack Obama as President of the United States of America. How would you like another year alive on this earth? No, this is not another worthy exhortation to give up smoking or drinking but a proposal many may find even more worrying. New research by actuaries – the professional […]

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The Bank of England has just crossed the line into straight government financing

| November 9, 2012 | 0 Comments

So now we know why the Bank of England’s Monetary Policy Committee called a halt to more Quantitative Easing this week – it’s because the Chancellor and the Governor of the Bank of England have concocted a backdoor way of doing the same thing. The latest little (actually quite big at a tidy £35bn) money […]

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Digital technology has made the world smaller and less safe for tax evaders

| November 9, 2012 | 0 Comments

The world is getting smaller and much less safe for tax evaders, as demonstrated by today’s disclosure that HM Revenue & Customs (HMRC) is investigating offshore accounts opened in Jersey by serious criminals. Britain’s biggest bank, HSBC, finds itself sweating in the spotlight again – just a few months after it was forced to apologise […]

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