Posts from Thursday Mar 28 2013

Alphachat: the cunning plan edition

Regular posting will resume on Tuesday. In this Easter edition of Alphachat, Joseph, Cardiff and David do their best to compare Jeroen Dijsselbloem to Baldrick before moving on to slightly weightier stuff. Read more

Home sweet tax shield – how the Dutch do property

Peek under the lid of the Dutch housing market. It’s awfully idiosyncratic in there. Also it’s doing rather badly and has been the subject of recent, significant tax reforms that will drastically change its shape in the coming decades.

Right into the deep end, with this chart released last week by Statistics Netherlands (CBS):

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Markets Live: Thursday, 28th March, 2013

Live markets commentary from 

The (early) Lunch Wrap

Cyprus imposed severe capital controls || Kurodo warns Japan debt ‘not sustainable’ || Chevron cuts senior executives’ pay || RBS and Lloyds must raise extra £9bn || France’s towns demand rescue from ‘Time bomb’ of Dexia loans || Google eyewear to be ‘made in USA || Blacktone is open to keeping Michael Dell on as CEO if it gains control of Dell || German unemployment unexpectedly rises amid euro crisis || American Airlines’ $11bn merger with US Airways is approved Read more

If you can’t beat them, just spend

Gary Jenkins writing in Credit Matters this week gets to the heart of the matter when it comes to what investors should do with their money (our emphasis):

Is nowhere safe? The natural reaction to this is that fi nancing for banks should become more expensive. We are already seeing this reaction in the market to some degree. But what does this mean for a product like Cocos? How does an investor monitor the risk of conversion if the ECB could, on any given day, decide to withdraw liquidity unless the bank were to improve its capital position?

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Further reading

Elsewhere on Thursday,

– The Tesla powered Mercedes Benz.

– Poland is not yet lost, or is it?

– Jobs are becoming less routine and more cognitive.

– Some goldbug hyperbole. Read more

The 6am London Cut

Cyprus imposed severe capital controls: “Cyprus is to become the first eurozone country ever to apply capital controls – with limits on credit card transactions, daily withdrawals, money transfers abroad and the cashing of cheques – intended to prevent a vast outflow of euros when its banks open on Thursday. Under drastic measures that some analysts say are incompatible with monetary union, depositors would be able to withdraw no more than €300 in cash each day, said people familiar with the move. Transfers over €5,000 would require permission of the central bank.” (Financial Times)

Chevron cuts senior executives’ pay: “Chevron, the US oil group, is cutting the pay of its chief executive and other senior executives after high-profile safety failures. The board has decided to cut stock awards and cash bonuses for 2012 by about 10 per cent, according to a person familiar with the decision.” (Financial Times)  Read more