[via Oslo Stock Exchange & Statoil]
When lawmakers in France suggested a higher retirement age for full pension benefits; from 60 to 62, workers and Unions organized violent protests. In many other countries, workers would welcome an age-62 rule. Maybe except for Turkey:
“Of the 30 countries the OECD studied, Turkey has the lowest age for receiving full retirement benefits. Greece came in second, with a retirement age of 57 for men and women. The Slovak Republic? 57 for women, but 62 for men.”
Get the whole article from Yahoo Finance: Retire in France at 62? In Turkey, It’s 45.
Retirement ages, by country and year
Source: OECD (Note: data predates France’s age-62 rule)
Following a innovative treaty that commits to exchange tax information with Switzerland, the Financial Times reported that advisors forecast relocation of assets to tax havens such as Panama, Singapore and Malta.
More on the groundbreaking deal here.
Short audio clip where Questor editor Garry White argues that ship brokers are still a good investment, despite choppy seas.
Daily Finance calculated that a $1,000 investment among the top stocks a decade ago would today be worth:
- Apple (AAPL) — $32,280
- Southwestern Energy (SWN) — $31,880
- Cliffs Natural Resources (CLF) — $26,460
- Coach (COH) — $21,320
- Ventas (VTR) — $19,420
- Cognizant Technology (CTSH) — $18,870
- CarMax (KMX) — $15,080
- Freeport-McMoRan Copper & Gold (FCX) — $14,630
- Cummins (CMI) — $13,010
- Range Resources (RRC) — $12,440
Jeffrey Sachs drinking tea with The Economist while discussing fiscal austerity and contributing to foreign aid; why the British government is right to do both.
Video from The Economist here.
Software giant tops analysts’ expectation, nudging late-traded shares higher.
“Its fiscal first-quarter net income rose to $5.4 billion, or 62 cents a share, from $3.6 billion, or 40 cents a share in the same period last year.”
According to a new study, oil and gas explorer Soco is the most productive company in the UK.
“Companies that can demonstrate a performance-driven culture, with effective managers who encourage innovation will generally achieve higher productivity, as measured by revenue per full time employee.”
|Most productive company||Revenue per full time employee|
|St James’s Place||£5m|
|Legal & General Group||£4.7m|
|Anglo Pacific Group||£2.9m|
|Intermediate Capital Group||£2.2m|
|Royal Dutch Shell||£1.8m|
Source: Profiles International
“Exxon Mobil Corp., the world’s biggest company, posted its largest third-quarter profit increase in six years as rising worldwide energy demand lifted commodity prices.”
Full report recap from Bloomberg here.
“The streets are paved with gold; there’s paradise on earth.” So said Marco Polo after he visited China seven centuries ago and came away awed by a land enjoying prosperity. The explosion of wealth is apparent in the new Forbes China Rich List; suggesting that the nation is once again enjoying another golden age. “
“What would Milton Friedman, the University of Chicago champion of monetary discipline, do now? What would he say—reversing the charges when he returned a reporter’s call, as he always did—if asked about Federal Reserve Chairman Ben Bernanke’s imminent move to print hundreds of billions of dollars to buy more U.S. Treasury bonds to put more money into the economy?”
Still wondering? David Wessel of The Wall Street Journal shares his thoughts here: Channeling Milton Friedman.
“Historian and diplomat Joseph Nye gives us the 30,000-foot view of the shifts in power between China and the US, and the global implications as economic, political and “soft” power shifts and moves around the globe.”
“Shipping companies are making $3,155 a day for a single voyage, 90 percent below the $30,900 Frontline Ltd., the biggest operator, says it needs to break even. Morgan Stanley estimates the tanker fleet will expand almost 13 percent next year and the International Energy Agency says oil use will grow 1.4 percent.”
Frontline reports third quarter 2010 results November 30. Bloomberg has comments from a pessimistic owner, John Fredriksen, and more details here.
The world’s largest provider of luxury goods - LVMH Moet Hennessy Louis Vuitton SA - are planning to raise its stake in Hermes International SCA to 17.1 % after calling 14.2 %. LVMH doesn’t seek control nor board representation. They like the strategy implemented recently and shows support by buying shares, according to the french representatives. I see that as a healthy and solid industrial signal. Is the share peaking or should one buy on hopes of a stronger economy? Sure has performed well so far in 2010:
“Hermes shares have climbed 77 percent in Paris since the May 1 death of former Chief Executive Officer Jean-Louis Dumas on speculation the company’s founding family may be more willing to sell. His death caused no change in the Hermes family’s attachment to the maker of Birkin bags and silk scarves, the company said at the time. Most of Hermes stock is privately held.”
More via Bloomberg here.
[Quote via MarketWatch]