Archive | November 2008
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Today UK Chancellor of the Exchequer Alistair Darling announced a £20 Billion fiscal stimulus package and an increase in borrowing to a whopping 57% of GDP or more. Tax cuts on consumption (much of which comes from imports) are to be paid for by future tax receipts (much of which comes from earnings paid to […]
Bernie Ecclestone, commercial supremo of Formula One has caught Olympic fever. He wants to do away with points down to eight place, awarding instead Gold, Silver and Bronze medals for places one to three – but only counting Gold medals towards the Championship. For some years now the points have been 10, 8, 6, 5, […]
Today the Bank of England reduced interest rates by 1.5%. I have no problem with that – I said to friends a month ago that October’s 0.5% cut should have been 2%, and I know I wasn’t the only finance professional saying that.
I am worried that McLaren, in throwing everything into winning the Championship this year, have over-improved their car to the point of making it faster, but undriveable. Hamilton described the newly improved car as “blindingly quick” around the Interlagos circuit in Brazil – but he only managed 4th fastest in Qualifying. That indicates a loss […]