Image by edtrigger via Flickr
“Nike Inc. shares rallied more than 3% in extended trading on Thursday after the athletic apparel giant posted a higher first-quarter profit and pointed to strong global order growth.”
More from MarketWatch here.
Archive | 23:54
Just Did It
23 Sep
Indexing The Capital Gains Tax To Protect Taxpayers From Inflation
23 Sep
“The capital gains tax is a perverse form of double taxation that should be abolished. This bad tax is especially damaging because families often are taxed on gains that are solely the result of inflation. This video explains how taxpayers could be protected by indexing the capital gains tax so the levy only applies to inflation-adjusted gains.”
[via Cato Institute]
Predicting the Nobel Prize
23 Sep
Image via Wikipedia
“Thomson-Reuters have updated their list of Citation Laureates, which they believe is a good predictor of future Nobel Prizes. Closely related: the REPEC ranking of most cited economists.
The Economics Prize will be announced on October 11.”
[via Greg Mankiw]
The Golden Age Of Home Ownership Is Over
23 Sep
House for sale via Wikipedia
“The golden era of home ownership is over, the head of the Council of Mortgage Lenders says, as he claims new rules on mortgage lending will cause house prices to fall.”
Full coverage from the Telegraph here.
Vince Cable On Britain’s Recovery
23 Sep
Yesterday, Britain’s business secretary, Vince Cable, told the Liberal Democrat conference that “capitalism was neither good nor evil – just useful.” He got a lots of attention in the U.K media in relation to yesterday’s speak on bankers and views on capitalism. Latest Tea with the Economist features Cable on spending cuts, banking reform and growth prospects in a tough economic climate.
Intraday Intermesso
23 Sep
Barron’s: A Hedge to Preserve the Edge. Buy cheaply priced puts to hedge recent stock gains and protect against future declines.
BBC: Anti-social behaviour cuts feared.
Bloomberg: Ryanair’s O’Leary Plans Shift to Major Airports as Growth Slows. Ryanair Holdings Plc is looking at opening routes to all major European airports bar the top three as slowing growth prompts the region’s top discount carrier to modify a strategy based on flying only to less-costly terminals.
BusinessWeek: Facebook Sells Your Friends. How Facebook plans to leverage its 550 million users into the greatest advertising juggernaut since Google.
CNBC: Thursday: US Data, Forex Markets Take Centerstage. Weekly jobless claims and existing home sales are the key numbers to watch Thursday, but investors will keep their focus on the volatile foreign exchange market.
Forbes: The Forbes 400: America’s Richest: The price of admission onto Forbes 29th Rich List is back to $1 billion. Who’s up? Gates, Buffett, Zuckerberg. Jay-Z is on his way.
MarketWatch: Stocks’ lost decade raises currencies’ allure. As stocks suffer, traders are increasingly joining the $4 trillion-a-day foreign-currency market.
Reuters: Microsoft yields more than U.S. Not long ago, tech investors didn’t expect, or want, payouts. With growth slowing, shareholders now need better rewards for the industry’s risks, writes Robert Cyran.
The Business Insider: Mark Zuckerberg Explains Why Facebook Is Working On Phone Software: To Be A Platform, Not Just A Service.
The Financial Times: Yachting manufacturers are catching glimpses of a recovery but customer habits have changed.
The Guardian: BA and Iberia merger cleared for takeoff. Merger between British Airways and Iberia likely to be completed by end of year as last obstacle to deal has been cleared
The New York Times: Buyers Send iPhones on a Long Relay to China. Demand for Apple gadgets has created a system for buying iPhones in New York and reselling them in China.
The Telegraph: Global food risk from China-Russia pincer. China becomes a net importer of corn for the first time in modern history and Russia’s drought inflicts more damage than expected.
The Wall Street Journal: Bordeaux’s Best-Kept Secret. IThere are still a few ways to drink like a king on the wage of a pauper. One way to drink beautifully crafted, aged Bordeaux at a fraction of the going rate—buying second wines.
Confidential Tax Heavens
23 Sep
Hong Kong skyline via Wikipedia
Switzerland has for centuries been the priority for people seeking to hide their fortunes and dodge taxes. Amid the escalating crackdown on national banks, the wealty are relocating to Singapore and Hong Kong – Why?
“Singapore lack taxes on capital gains and most foreign dividends; and system allowing depositors to open accounts in the guise of corporations, trusts and limited liability companies.”
Hong Kong does not have formal bank secrecy laws, it allows the formation of opaque companies that often serve as conduits for tax evasion. It also does not tax capital gains or deposit interest, and for corporations, it taxes only Hong Kong-sourced income.”
View the full article from the NY Times: Seeking Bank Secrecy in Asia.
WSJ Markets
- Fed's Varied Voices Leave Market GuessingBernanke said the Fed could start reducing bond buying "in the next few meetings" but warned against premature action, amid conflicting messages that roiled markets.
- Gap Is Starting to Look OverdressedAhead of the Tape: Profits never go out of fashion. Sadly, the same can't be said for the wares on display at Gap and its competitors.
- Ghana Looks to Join Bond BandwagonGhana hopes to become the latest African country to ride the wave of cheap borrowing with the sale of a new bond aimed at international markets for only the second time in its history.
- Copper Rises on Supply ConcernsCopper prices settled near six-week highs but pulled back from earlier peaks, as worries about the future of the Fed's monetary stimulus tempered suggestions of tighter supplies.
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