Sunday, 18 May 2008
Sunday Business Round Up - 18 May
Back from a business trip to a very economically buoyant Germany, below is a round-up of the most interesting business stories from the Sunday Broadsheets.
Most interesting to hear the views in Germany that the current slow down will not be too bad. Exports of cars and other goods still exceed China, taxes have been cut and there is even some small reform to the job market. All completed by a left-wing government. Perhaps our own political parties could learn something from this....
To the weeks news then;
BA to retrench - Good results this week, but this story is interesting as it notes with oil over £120 there is no way for the company to make money.
Pension crisis - The law of unintended consequences strikes again, pension rules are forcing companies to bolster their pension schemes at the expense of the treasury. Hooray, but leaves sickly government finances in an even worse state.
Energy battle - A strange time ahead, with BE shareholders thinking they will get bids at 720p and above, the current share price is 660p and the bids will be in that region. The saga will run for a few weeks yet.
BOE loses key player - Rachel Lomax, the Deputy Governor is to leave after not getting the top job.
Losing your job in financial services - An interesting story about how things are being done on wall street in the New York Times.
PPI - This it eh worst kind of insurance, with 90% margins for those who offer it. At last the FSA is cracking down on the industry.
30% fall for commercial property - Even further to fall for a sector ravaged the last 2 years, when will it reach the bottom?
Virgin Money to sponsor Marathon - A hidden story here, a £400 million turnover business is to spend £17 million on sponsorship? I think Branson has some plans for this business....
Return of supersonic travel - An executive concorde jet is et to hit the market in 5 years.
Comment of the week - Liam Halligan destroys Brown's economic record.
Posted by CityUnslicker