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Category Archives: Economy
The final countdown of ‘days to save the Euro’ comes to an end today with an EU summit billed as the most important in the bloc’s history. The political and economic climate in the Eurozone has altered with such frequency and drama over the past few weeks as to make the ongoing currency saga almost unreadable.
The news that CPI inflation has risen to 5.2% comes as no surprise.
Even though such news was likely and the target inflation rate is a mere 2%, the Bank of England MPC still decided to pump a further £75bn of quantitative easing into the system in October. They are clearly taking the view that the economy is too fragile to risk increasing interest rates, which would be the usual response to rising inflation. Read More »
I was very disappointed with the speech from Mr Miliband earlier this week as it showed a complete lack of understanding of how business works. The very notion of separating out good companies for what he calls bad companies, in terms of their investment returns and speed of returns, is just nonsense and just sends out a message that he is not supportive of a very active business community.
You may have noticed that there are very few optimists about at the moment. Vince Cable, in his recent speech to the Lib Dem conference, said that he could see no sunny uplands in the economic distance, only threatening clouds – hardly inspiring words from the minister responsible for business confidence. But you can understand why he’s looking so unhappy; with businesses postponing investment and consumers holding onto their cash, the risk of a double-dip is increasing every day.
MANY Yorkshire firms are postponing investments that could create full-time jobs as the Bank of England moves closer to a second round of quantitative easing against a backdrop of uncertainty in the financial markets. Read More »
Last week I attended a briefing on the new regulation for the financial services which included a review of the Lehman Brothers story. The review of the Lehman Brothers story was extraordinary. What I found particularly mind blowing, is that there are still 250 people employed full time by PricewaterhouseCoopers (PWC) sorting out Lehmann Brothers obligations from their collapse back in September 2008. Imagine the cost. Another interesting point that came out of the review was that due to the complexity of the financial world being so great, those involved in it, almost feel that no-one will ever be able … Read More »