Tesco earnings up, UK and USA sluggish
Tesco has reported a rise in profits, with revenues up 8.1% to £67.6bn. For the 12 months closing 26 February 2011 their pre taxes revenue had been upward from previous year having a bump up of around 11.3% to £3.54bn. Why is this interesting? Well, because the figures provide an insight on the performance of [...]
RBS loses over a billion
Just when you thought the financial crisis in the banks was over, then Royal Bank of Scotland posts a £1.1 billion loss. While the cause of the loses especially seems linked to the RBS subsidiary Ulster Bank, which has guaranteed 100% mortgages in the Irish Republic, it still shows that the European banking system still [...]
Financial reform must go beyond FSA and BoE
Last week one of the biggest financial stories was George Osbourne’s effective dismantling of the FSA and returning full supervisory powers to the Bank of England. The problem being, of course,as has been widely pointed out, no regulator across the world appears to have really seen the financial crisis coming, instead living in hope that [...]
BP needs to recover investor confidence
The news today that BP is due to set aside $20 billion in compensation payments in a managed fund will come as welcome relief to investors, no doubt. While it can hardly be good news for any company, even one as oil-rich, literally, as BP, at least it will help put an end to some [...]
Why the property market is about to fall
The UK’s property market is beginning to see the signs of a downturn finally begin to show, setting the stage for a double dip in property values. While the DCLG reports that property inflation over the past year has reached over 10%, this has been overwhelmingly driven by easy credit rather than a return to [...]
Eurozone: Spain the next crisis target
Concerns about the so-called PIGS – Portugal, Ireland, Greece, Spain – continue to dominate the financial news as the likelihood of a second wave to the financial crisis, this time a sovereign crisis, with countries likely to default on the huge debt they carry. Today’s news is that spreads on Spanish bonds continue to rise, [...]
Finally setting up A1′s offices
It has been a while since I last posted due to the length of time required to set up the offices. Finding suitable offices has proven to be a surprisingly difficult endeavour, with quite a number on the market, but few actually properly suitable because of their existing design, not least in older buildings. However, [...]
ISA deadline looms early – don’t get caught out!
It’s that time of year again – when the deadline for last year’s ISA’s allowance comes up and is gone forever. To be part of this year’s allowance, the transaction will need to be completed by 6 April 2010. However, due to the Easter Bank Holiday, savers and investors only have until Saturday 3 April [...]
Changing back to BT for broadband :(
Well, it looks as though I’m finally moving ISP from Zen back to BT broadband, as I just called Zen for a MAC code. It’s a shame, really, as Zen has a far better reputation for service and support than BT, but the problem of wireless interference is a constant and annoying problem. Plus BT [...]
Does the UK face economic collapse like Japan?
The more I read about the impact of the financial crisis in the UK, the more it feels that the UK is doomed economically, and that the best option now while you have cash in Great British Sterling is to cash out and move aborad to somewhere more financially sound – ie, not threatened with [...]