Sunday, 8 June 2008
Sunday Business Aggregation - 8-6-08
The really worrying thing this week is the price increase in Oil by $10 this last two days. Mainly because I picked shares last week with the idea that oil would fall, like British Airways. Also though, I can see no way to avoid a very painful recession with oil prices at these levels. When I started this blog nearly 2 years ago i said that stagflation would be the result of Labour policies and now it has come to pass. The worry is that it accelerates over the next few months and we have a terrible economic situation.
The Sunday's all have this theme as their main points of business news, but there are some other good nuggets too;
Oil prices rocket - The Guardian has a good summary of the events which have hit the markets at the end of last week.
FTSE100 shake-up - More miners to enter the index, showing the full effect of the resource super-cycle.
India Fuel protests - A good example of Asian governments giving into the high prices too, inflation in Asia will slow the dragon rapidly and could undo much of the economic gains of the past few years. Still, outsourcing could retrench as a business.....
North Sea Oil - On the plus side, we have plenty of oil left with high prices, as long as the Government does not insist on hobbling the industry with extra taxes.
Stelzer's oil view - He thinks it will all be ok a decade from now. Shame we have to live through that decade though eh?
Hedge funds hide - None have signed up to the voluntary code. The old phrase comes to mind "money talks and bull...."
B&B hits rates - Stricken Bradford & Bingley raises mortgage rates. Egg gives up on the market all together. Not a good time to try and get a mortgage nowadays. The real question is...will we have waiting lists again like we did in the 70's?
Cars hit by negative equity - Thanks ot excessive government taxes. Thanks Gordon and Badger!
Al Italia 'Fraud' - Everyone agrees saving this utter dof of a company is both illegal and irrational. With high oil prices the weak must fall in the market, national sentimentality can take a back seat.
BBC spin-off makes good - Working with China on the Olympics. And people say privatisation would be a disaster for our media market...
Posted by CityUnslicker