| | Friday 1 June 2012 THOUGHT FOR THE DAY  Hello Share Wizards,
I've had a grim old time doing my VAT return. I left everything to the last minute - and then the Revenue's website would not perform an automatic calculation. This meant I could not file my return.
But after a frantic phone call, I was told it was probably my computer and not the site. And this proved correct. I changed to another computer and sent it without any more delay.
Now this goes to show that you should never wait till the last minute. You always have to leave enough time to sort out any problems. This goes for share dealing, too. If you want to buy a share because it is cheap - and there are a lot of those around these days - then do not delay.
Click here to view the rest of the article
Paper Round Xstrata, Britain, US
Xstrata chief Mick Davis is in line for a potential 75m pound payout as head of the company created from the miner's proposed merger with commodity giant Glencore. The payout includes a 28.8m pounds in "retention awards", mostly in cash, simply for staying at the new company for three years, regardless of his performance. Another 144m pounds will be handed out among 72 other Xstrata executives in the same way, to keep them on for two years. The rest of Mr Davis's package comprises the roughly 9.8m pounds he could get per year in salary, bonus, benefits and the like. He is also in line for 6m a year via a long term incentive plan if he hits targets and the scheme remains the same, according to The Telegraph.
The International Monetary Fund denied reports yesterday that it had begun planning a bailout for Spain as speculation mounted that the country was on the verge of asking for the biggest financial rescue in history. Initial planning was said to have started at the IMF's European department, reversing the slide of US stocks this week over fears of a banking collapse in Spain. The three-year rescue plan, a combination of IMF and EU loans, could total EURO 300bn (GBP240bn) if Spain's international borrowing costs continued to rise, sources said. Spain's most pressing need is to find EURO 10bn to bail out Bankia, the country's third biggest bank, which the Government pledged to rescue, The Times reports.
The Government needs to take urgent action to boost Britain's flagging economy or face years of sluggish growth. The British Chambers of Commerce has slashed its growth forecast from 0.6% to 0.1% for the year and warned that public sector net borrowing would be GBP6bn higher than the Office for Budget Responsibility expects as the weak economy takes its toll on tax receipts. Its outlook for jobs is just as gloomy, with the number of jobless Britons set to rise by 275,000 to 2.9m in the second half of next year despite recent falls in unemployment. This is mainly down to public sector spending cuts, many of which are yet to be implemented, says The Times.
Fears that America's economic expansion is losing steam were ignited on Thursday by a blitz of disappointing data. The number of Americans filing new jobless claims climbed 10,000 to 383,000 last week, according to the Labor Department. A separate survey from ADP Employer Services reported that 133,000 jobs were created in May compared with a forecast of 150,000. Signs that the job market is stalling is troubling because it has proved the brightest part of the US economy so far this year. The data is likely to be seized on by Mitt Romney, who this week became the official Republican candidate in November's presidential election. The news from the labour market came as official estimates for how rapidly the economy grew in the first three months of the year were cut. Gross domestic product expanded at a 1.9% annual pace in the first quarter, the Commerce Department said, down from an earlier estimate of 2.2%, The Telegraph writes.
Angela Merkel insisted that there were "no taboos" in the battle to shore up the euro as Germany came under mounting pressure to defend the currency and the flight of investors from Spain accelerated. The German Chancellor said that the EU should be ready to consider all options to halt the crisis, amid demands for greater integration including in the region's banking system. Her words came as Mario Draghi, the President of the European Central Bank, warned that his institution could not fill the vacuum being left by political inaction at a European level, according to The Times.
Morgan Stanley chief executive James Gorman has hit back at criticism of the bank's leading role in Facebook's $104bn (GBP67bn) flotation, dismissing speculation of "nefarious activity" as false and describing as "naive" investors who expected the shares to surge. At a weekly meeting with staff, Mr Gorman said that they should "be proud of the job your colleagues did and don't judge us on what happened over a couple of days". Morgan Stanley was the lead adviser on the record-breaking initial public offering but is now being sued alongside several other banks for allegedly failing to disclose to all potential investors that they cut their estimates for how much profit Facebook would make this year, The Telegraph says.
THE LATEST ON THE CRAZY BOARD The top 5 hot company threads on the Bulletin Board: Falkland Oil & Gas BPC North Sea Oil Wessex Exploration Running trading thread
Click here to discuss shares with other ShareCrazy members
BOOK OF THE WEEK  By Johan Stenebo
A book review by Aaron Padgham of t1ps.com Johan Stenebo was a leading director at IKEA for more than two decades during a period in which it rapidly transformed into a leading flatpack retailer, generated billions of pounds of revenue across 38 countries. Working directly beneath Ingvar Kamprad, owner of the Swedish furniture giant, Stenebo was pivotal in the opening and running of the Leeds store, that soon went on to break company records, and was for some time Kamprad's personal assistant. John left the group in early 2009, after disputes with other members of management, and a few months later this book was released.
Click here to view the rest of the article
|
|
| | | |
| | |
|
If you do not wish to receive such emails please use the following link to unsubscribe. Sharecrazy.com Limited is an Appointed Representative (FSA registered number 245145) of Rivington Street Corporate Finance Limited which is authorized and regulated by the Financial Services Authority (FSA registered number 184761). Sharecrazy.com Limited is ultimately owned by Rivington Street Holdings PLC, 39 Athol Street, Douglas, Isle of Man IM1 1LA, the holding company for other regulated entities such as t1ps.com Limited and Rivington Street Corporate Finance Limited. Sharecrazy.com Limited does not offer investment advice and the ShareCrazy Trader service we provide is administered by Jarvis Investment Management Plc, which is authorised and regulated by the Financial Services Authority. The website and the articles on it are for general guidance only and we cannot assume legal liability for any errors or omissions they might contain. The value of investments can go down as well as up and you may not get back the full amount you invested. If you are in any doubt about investing, seek the guidance of a suitably qualified and regulated financial adviser.
No comments:
Post a Comment