Sunday, 25 May 2008

Sunday Business Round-Up May 25th 2008

The old City adage is sell in May and go away, so we if it holds true we should see a lowering of activity int he next couple of weeks and a downturn in exciting M&A stories. Instead the reporting season will come to the fore and executive pay packets will make the features headlines for the MSM.

Back in the real world, the summer is quite crucial for the UK economy, if inflation carries on rising and growth stalling the economy could go off a cliff like 1991 again by the end of the year. By no means is it certain this will happen, but it is a distinct possibility - more on this later this week.

Here are the 7 most interesting Stories in the business sections this week:

HSBC pay - First-up is the first pay story, HSBC execs (CEO Mike Geoghegan pictured above) have done well to cope with the credit crunch overall and grow the bank massively int eh far east. Too much to ask for them to be well paid then....

Union M&A - As numbers and willingness dwindle, the main unions are looking to merge. Perhaps it would be better if they acted for the interests of the new workers - where is the banking and accountants union....

Airline struggles - A useful piece on the way airline travel will change if oil prices stay this high. Will the budget airlines be grounded - some will for sure.

Schools credit crunch - This is the best news for a while, crazy government PFI schemes have been halted by the credit crunch. A good example of the law of unintended consequences.

YOU can do it!
- Retail investors cash in on oil and gold boom, where would they get these ideas?? However, just remember the time the herd moves is the time the smart ones get out.

Rights issue madness - The shareholders of major UK companies are being tapped for money, lets hope it is worth it.

Sweet music - Tate &Lyle is an interesting company, operating in such a regulated market that it makes some seemingly odd economic choices and often acts like a public entity. A strange world where markets and politics meet.


Tom Powdrill said...

Interesting comment about the Unite/USW merger.

Actually there used to be a distinct banking, insurance and finance union - BIFU. This later merged with the staff asociations of Barclays and NatWest to become UNIFI. Then it was swallowed up in Amicus and so is now part of... Unite.

Personally (and I have a few heretical views as a TU member) I'm not sure these mergers are a great idea as they create the union equivalent of conglomerates. Do workers in the finance sector want the same style of union leader as those working in manufacturing?

Also it does beg the question what the future role of the TUC is if most union members are in two or three big battalions.

Bill Quango MP said...

They really need to reinvigorate themselves to survive.

I attended a local Union meeting recently. Real Ashes to Ashes stuff.
Should the Welsh dragon be incorporated into the stationary, and could Welsh language leaflets be issued of the minutes and meetings.

This from a UK wide Union of around 5000 members.

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