Sunday 3 October 2010

Finance Blog

LATEST POSTS

OCTOBER 1ST, 2010 13:10

Britain is not Ireland, so stop using this false comparison

britain-is-not-ireland-so-stop-using-this-false-comparison

There they go again. Diane Abbott, the London MP with a love of expense account taxis rides, represented the standard Labour view on BBC's Question Time last night when she cited Ireland as an example of what Britain might become under the Coalition's spending cuts. Instead, she wants to carry on spending until….well this question… Read more

OCTOBER 1ST, 2010 12:49

State safety net for homebuyers is cut by 40 per cent

The safety net for homebuyers who lose their jobs is being lowered by 40 per cent with effect from today despite mortgage lenders claims that further reductions could cause arrears and repossessions to rise. Income support for mortgage interest (ISMI) was paid on homeloans of up to £200,000 at an interest rate of 6.08 per cent… Read more

OCTOBER 1ST, 2010 7:52

Tax exodus begins

tax-exodus-begins

One in eight people registered in Britain as non-resident for tax purposes left the country in the last year for which HM Revenue & Customs (HMRC) has records. The 12 per cent decrease during the year to April, 2009, demonstrates that tax-driven emigration is not just an option for companies like Wolseley, the FTSE-listed plumbing group… Read more

SEPTEMBER 30TH, 2010 12:05

Why are banks changing their tune about Basel III?

why-are-banks-changing-their-tune-about-basel-iii

I know it's hard to keep track of the constant stream of regulatory shifts and re-thinks, but if I remember rightly, the reaction to the agreement on Basel III, the new framework for global capital requirements reached earlier this month, was broadly positive. The Basel Committee on Banking Supervision said it will require lenders to have… Read more

SEPTEMBER 30TH, 2010 11:13

Ireland's love affair with masochism

irelands-love-affair-with-masochism

A more shocking set of numbers is hard to imagine. The latest bailout package for Ireland's insolvent banks will raise the nation's budget deficit from an already alarmingly high 12 per cent to a jaw dropping 32 per cent, which will in turn send overall public debt spiralling upwards to just shy of 100 per… Read more

SEPTEMBER 30TH, 2010 7:50

Burglars big winners from divided Britain, says insurer

burglars-big-winners-from-divided-britain-says-insurer

Burglars are unexpected beneficiaries of a divided Britain in which one in 20 long-term couples now live in different homes, a major household insurer claims. The number of “live-apart-ners” has increased by 40 per cent over the last decade to exceed 1m, Office for National Statistics (ONS) figures show. Now new analysis of 80,000 household burglary… Read more

SEPTEMBER 29TH, 2010 17:18

Banking is out. Now everyone wants to be… an accountant

banking-is-out-now-everyone-wants-to-be-an-accountant

When I visited my university’s career office, roughly 25 years ago, I had no idea what I wanted to do after graduating, and the careers adviser had only one suggestion to make: accountancy. This prospect – and my own cluelessness about what other careers might be open to me and whether I’d be any good at… Read more

SEPTEMBER 29TH, 2010 16:25

The great supermarket/TV love-in

the-great-supermarkettv-love-in

What do TV companies and supermarkets have in common? I'm not entirely sure but there is a fascinating trend for executives from both industries to be appointed to each others' boards. Charles Allen, the former ITV boss, sat on Tesco's board from 1999 until earlier this year. Then in May 2006 Anna Ford, the newsreader, joined the… Read more

SEPTEMBER 29TH, 2010 13:45

Why Brown should be joining Iceland's former PM in the dock

why-brown-should-be-joining-icelands-former-pm-in-the-dock

Iceland's decision to push ahead with charges of negligence against its former prime minister, Geir Haarde, raises the not entirely frivolous question of whether it might be possible to mount a similar case against Gordon Brown. Nevermind the alleged war crimes of Tony Blair, ruination of the British economy is a pretty serious charge. The case… Read more

SEPTEMBER 29TH, 2010 8:32

Warren Buffett 'fund' illustrates rip off management charges

warren-buffett-fund-illustrates-rip-off-management-charges

If you think the row about fund management charges is a tedious technicality then prepare for a rude awakening. Terry Smith is the latest outspoken multi-millionaire to lob a hand grenade into this debate which will shake the City to its foundations and could bring several institutions crashing down. He claims investors are left with less… Read more