Sunday, 28 October 2007
28 October - Business Round Up
Another quite exciting week in the business news; indeed the past 6 months have seen a huge jump in the importance of business news as the credit crunch and general economic situation grabs peoples' attention for the first time in years; probably since the end of the dotcom boom.
I have added a couple of international stories this week for some variety too.
Here are 10 stories that you should read this weekend:
Buy Gold - Even the Observer is getting on the bandwagon. Of course when everyone else jumps on board it is probably time to get off....
US Inflation worries - From the NY Times, the issues of the housing market fall have led to the spectre of inflation being somewhat hidden in the US. However, prices have risen.
..and yet US interest rates might fall - When read with the story above we can see how truly difficult the problems are for the world's largest economy. Also what happens in the US may happen here in a few months?
UK ducks Climate Targets - As reported earlier in the week, John Hutton and the Labour Government are going to try and get out of the 20% renewables by 2020 target. Of course as Nick Drew has said before, they could never hit these. Never again can we put any faith in so called green initiatives; they are so much hot air...
Supermarkets attacked on land banks - The UK Supermarkets have a large amount of retail land held onto for 'anti-competitive' reasons. This is one area where I side with the regulators and say the land should be sold for wider economic benefits if the supermarkets are not going to develop it.
Resolution battle - A company started just 5 years ago, Resolution plc, that looks after so called Zombie Pension funds is the centre of a bid battle between Pearl and Standard life. The Chairman and founder, Colin Cowdrey stands to make £150 million; and he deserves it too for creating business magic and a whole new sector in the pension market.
C&W pensions - And whilst we are on this topic, here is another large company that is seeking to offload its pensions issues to a 3rd party. This is a long-term story that will run and run.
Northern Rock - GMAC is revealed as a bidder with JC Flowers; the firm most likely to rescue the bank of England and the UK Government....I mean Norther Rock, oops.
Asian Market bubble - From the Hong Kong Standard comes the news that the HK market ended up at over 30,000 for the first time ever. Still going strong, but putting even more pressure on the HK dollar peg with the US$.
Comment of the week - John Waples in the telegraph has an excellence piece on the false market in Northern Rock shares and says trading should be suspended.
Posted by CityUnslicker