Should a company remain independent when almost two-thirds of its shareholders want to sell it? The business secretary thinks so. Lord Mandelson has added his name to those who think the minority should outvote the majority on takeovers.
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The pollsters and the pundits are agreed: the choice at the general election will be between a hung parliament headed by David Cameron and a hung parliament headed by Gordon Brown. Oh dear; the country needs a government, not a choice of two non-governments.
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Why bother being boss of a big bank if you are not allowed to take the rewards? Lloyds Banking Group’s chief executive has followed Barclays’ and RBSs in bowing to public pressure in rejecting bonuses. Yet while they make the sacrifice, bankers at lower levels keep their windfalls.
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Put 10 economists in a room and you’ll have 11 views, they say. But why are these pundits so keen to socialise? A letter to a newspaper suggesting early public spending cuts has to be signed by 20 economists: 60 then put their name to the counter view. How many make a quorum?
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Mrs Thatcher famously said you can’t buck the markets and sports minister Gerry Sutcliffe has reluctantly agreed. If fans want to pay a fortune for Cup Final or Katy Perry tickets, you can’t stop them. And why stop them?
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If credit-card rates are at a 12-year peak but card usage is at record levels, why do we think interest rates are a tool for controlling the economy and inflation? Consumers appear insensitive to rates.
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This will be the year of two UK budgets – and the year of none. The chancellor’s pre-election budget will avoid tough action for fear of losing votes and the post-election budget will avoid it because the manifestos shied away from tough threats.
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The size of the £9bn deficit on the BT pension fund is only a billion below the market value of the telecoms group itself and is bigger than the capitalisation of most FTSE 100 companies. The old joke about a pensions fund with a phone business attached is dangerously true.
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When will UK interest rates rise? Not before the general election but they could well be increased before the end of the year. And if there is a run on the pound, the pressure will be for higher rates sooner rather than later.
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The euro is tumbling against the dollar as Greece’s financial problems threaten the whole eurozone. Why then is the pound tumbling too?
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