The business pages re one of the main focus' of the news at the moment given all the problems caused by the credit crunch. The journalists are loving it no doubt, but probably having to put in some hours similar to mine at the moment....
Here are 10 of the best stories from the UK broadsheets this weekend, with my neutral comments:
Northern Rock speculation pt1 - Hedge funds to buy it and split it up for value (who gets the crappy bits then??)
Northern Rock speculation pt2 - Shares to sink to near zero value. This is more accurate. The way market psychology works the bank will go for a pittance. Clearly I never/can't give advice, but this would be in theory very courageous punt.
More fun from the EU - new changes to company regulations will push down dividends, super-dooper being in the EU isn't it?
Secrets of Alibaba - Interesting look at one of the success stories of China and a key exporter to the West.
Saudis to Abandon Dollar - This could really change the world. The Euro will be pushed up just as it needs to come down a little. Maybe the pound too? Ouch.
End of the battle - RBS to win ABN. Will the price be worth it in such a changed wold?
BoE to cut rates? - With the U-turn complete on monetary policy and a long-term wreck in sight this could no doubt happen. More interest rate cuts to feed the credit market and more spending of future prosperity.
Loony Fayed - Plans for a zoo on Harrods roof...what more is there to say?
People who sell houses for a living say is still housing is safe investment - not strictly business news, but worth a read if you want to see the sunny side of life and fell undue optimism.
Trade war looms - Bizarrely the US and EU are taking each other to task about the huge subsidies that both give their airline manufacturers.
Trade wart, huh ? Must be getting ugly !
ReplyDeleteahem spotted!
ReplyDeleteCU: Housing a "safe investment": my formulation is "anything you treat as an investment will behave like one".
ReplyDeleteLike your notion of a business news roundup. Can that be developed in some way (e.g. geographic, or by market sector, or asset class)?
What do you think of the idea of a group of like-minded British bloggers bringing out an alternative financial news website?
Re header: City, have e-mailed you twice yet to get a response. Didn't post your comment because of your e-mail being in it.
ReplyDeleteI quite like the idea of a zoo on Harrods roof! They could sell any spares in the shop and if stuff died there is always the famed Harrods sausage machine...
ReplyDeleteThe BBC, ever eager to support the Labour party, have been blethering away on their web-site about the "NR share rally". Personally I think they may have spoken too soon....
ReplyDelete...I was right. NR shares are down again and the Beeb have been forced to update their story!
ReplyDeleteIt will be interesting to see what happens to NR shares once investors have had their pound of flesh from the share dividend, currently worth 7% of the share value.
Sackerson - I think it would be a good idea, sadly i have not the time for it as my new slavemasters try an extract their pints of blood...
ReplyDeletemutley - erm , sad real stories re this in Zimbabwe at the moment.
ReplyDeleteNR is finished, the clever ones are out already. if the hedgies buy it it will be through buying the bonds and then gaining control through an administration.
ReplyDelete"What do you think of the idea of a group of like-minded British bloggers bringing out an alternative financial news website?" (Sackerton)
ReplyDeleteI'd be up for that.
I have spare time, no money or vested interests to protect, no economic education, lot's of opinions that change rapidly and as buring desire to find he answer ina world of lies and deceit.
I'd be up for writing a few posts from the perspective of a 27 year old Brit with a normal job,no debts and no assets that tries to enjot life, but wants to build a nest egg.
Now back onto Northern Rock -
If I buy at what I think is rock bottom, and the hedge funds that have pretty mcuh shorted it down to zero anyway (i'm not stupid) decide to gobble it up - can i get a free ride or can they force me to sell to strip al my assets etc??
Hmm, the 'spec 2' article says that Nr have been told to 'fix the mess'.
ReplyDeleteThis is the bit I don't understand. I know NR were relying on interbank lending that is now over 6.5% up from 4% for finance and that that is unsustainable.
However I though banks were allowed to 'create' money when they lend mortgages through fractional reserve lending, is this only some banks?
CU, Steven_L: I was thinking that instead of trying to be instapundits, we could each take a country, investment sector or asset class, and become experts, pooling the results on a common page.
ReplyDeleteHow would this be different from what we get in the newspapers? Well, we wouldn't turn financial news into celeb columns, waste our time gossiping about mergers, or drive with our eyes glued to the rear-view mirror.
Yes, I've got to earn money, too (and no, my degree wasn't in economics either) - but as we're blogging already, maybe we could take it up to the next level.
There you go - wiped the floor with me as a blogger - Top 100 and rightly so! Congrats.
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