NASDAQ is putting its imprimatur on private shares trading, but several questions remain.
Despite a big rally and evidence that individual investors are putting money back into stocks, financial adviser say many of their clients remain nervous.
View original post here: Individual investors still nervous about stocks
But some might say Black has just found himself a gullible Canadian fool in Moses Znaimer
We ought to have seen it coming last year when Conrad Black lumbered around London’s TV studios plugging his latest book – and labelling Jeremy Paxman a “priggish, gullible, British fool” along the way. Oh the wonder at seeing a baleful bear of notoriety snarling and snapping at Paxo, Adam Boulton and Co! What on earth could he do next? Silly question: obvious answer. Black was surly and snarly enough to make a great talk-show host himself.
And so it comes to pass, in Canada to begin with, as Conrad takes over half the presenting duties on something called The Zoomer – Television for Boomers with zip – which, being interpreted, means current affairs for those in late middle-age. He will offer an interview “with some of the world’s greats” each week, plus a feature slot called, inevitably, Talk Black, where he can play grumpy old ex-newspaper proprietor and prison reformer to his heart’s content.
“If ever you’re giving a dinner party, this is the guy you want to invite,” says Black’s new boss, Moses Znaimer. Yet somehow, far in the distance, you can hear Paxo singing a new song for Moses. “Who’s gullible now?”
Sir Ray Tindle ought, at 87, to be putting his feet up, not buying ever more struggling newspapers and putting his private company profits up by 278% in 2012 (on the latest figures). But then Ray is the wisest, canniest old bird around. They laughed a couple of years back when he began buying shares in Johnston Press at 4.5p a time. But now JP is up to 12.5p and Ray, with more than 51m of them, has seen his bank account take a £3.1m bounce – bigger, as it happens, than the £1.52m profit his papers have just recorded. Life changing as recession recedes? Perhaps. But life-affirming? Absolutely.
The world’s biggest maker of silicon chips, Intel, which grew by putting chips most of the world’s personal computers, is now facing an erosion of that market.
See the original post: AUDIO: Chip make Intel sees profits slump
Troubled music and DVD retailer HMV, which began trading in 1921, announces it is to appoint an administrator, putting about 4,350 jobs in jeopardy.
See the original post here: HMV chain to appoint administrator
A growing dependence on the internet is putting Europe in increasing danger from cyber criminals, senior European detectives have warned.
Visit link: VIDEO: Inside EU’s new cybercrime unit
Troubled camera retailer Jessops goes into administration, putting 2,000 jobs at risk as administrators say store closures are “inevitable”.
View original post here: Jessops goes into administration
The UK’s ongoing financial problems are putting an increasing strain on family relationships, a survey by the Relate charity suggests.
Putting the European Central Bank in charge of the zone’s biggest bank offers the prospect of progress
There’s an argument that agreement on banking union in the eurozone creates serious problems for the City and UK banks. Will the Square Mile lose its competitive advantage? Could banking union be used as cover to force euro-trading out of London? And will the European Central Bank, as regulator for the zone’s biggest banks, come to out-gun the pan-EU European Banking Authority (EBA) and thus establish rules ill-suited for UK banks?
These worries should be ignored, at least in the short- and medium-term. First, the big picture. The ECB, as single eurozone banking regulator, can hardly fail to do better than the current collection of national supervisors. For the past two years, we’ve seen multiple failures to confront head-on the problem of under-capitalised banks.
Putting the ECB in charge of the zone’s biggest banks offers the prospect of progress on this front. Banking union obviously does not solve the broader sovereign debt crisis. But the net result -– if all goes according to plan – should be more capital flowing into eurozone banks. That must have beneficial knock-on effects for confidence in UK banks.
Second, the technical factor. Britain appears to have won reasonable safeguards to protect the independence of UK regulation and the status of the EBA. There will be a so-called “double majority” voting system designed to give Britain and other non-eurozone members a voice in pan-EU capital and liquidity rules.
Nothing is forever, of course, and there’s a risk that the principle doesn’t work well in practice. But at least there’s unity at the outset. It’s hard to spot a serious threat to London’s status as Europe’s financial centre.
Third, being outside the banking union is the best place to be, especially if the grand vision turns out to be a flop. Would you feel safer entrusting regulation of Britain’s over-large banks to the ECB? The answer is surely no: a beefed-up Bank of England is better placed to detect nasties in the UK banking system than the ECB. Remember, reform in Britain on capital and liquidity has happened faster than in the eurozone, if only out of necessity.
In short, from the UK perspective, banking union has far more pluses than minuses: if it works, it’s helpful; if it doesn’t, we’re better off outside the club.