01 Sep
Posted by Allison Thomas as Corporate Finance
Gartner also forecast computer chip revenue of US$314 billion in 2011, a 4.6 percent increase over this year.
31 Aug
Posted by Brian Anderson as Business Help
THE Bank of England should hold interest rates at 0.5% and consider pumping more money into the British economy to ensure a stable recovery, a leading business group said today.
The message from the British Chambers of Commerce (BCC) came as it raised its GDP growth forecasts to 1.7% for 2010, higher than predictions of 1.3% in June, though it warned the pace of recovery would slow sharply as fiscal-tightening measures took hold.
Despite its caution, the BCC backed Chancellor George Osborne’s belt-tightening Budget, and also raised its hopes for GDP growth in 2011, from 2% to 2.2%.
BCC chief economist David Kern said: “If successful, the forceful deficit-cutting strategy announced in the emergency budget would put the UK on a path of sustainable and affordable recovery, and could help create a leaner and fitter economy.”
But he warned the scale of the austerity measures could increase dangers of a double-dip recession and a clear growth strategy from the Bank of England was necessary.
The bank has held interest rates at an all-time low of 0.5% since March 2009 and has pumped £200bn into its quantitative easing (QE) programme, in a bid to stimulate growth in the economy.
Mr Kern urged the bank’s monetary policy committee (MPC) to hold its nerve and not bow to pressures to lower levels of inflation, which at 3.1% is well above the 2% target.
He said: “Threats of a setback to growth remain more serious than risks of a surge in inflation.
“Given the balance of risks facing the economy, we urge the MPC to keep interest rates at 0.5% until the second quarter of 2011 at the earliest, and to consider further increases in the quantitative easing programme if the economy weakens.”
The BCC also said it expected unemployment to increase over the next 18 months, from 2.46 million to 2.65 million in the first half of 2012.
David Frost, the BCC’s director general, said: “There must be a relentless focus on ensuring that business is able to deliver growth and create employment.
“We need policies that rebalance the economy towards wealth-creating businesses, and enable the private sector to invest, export and create new jobs. Failure to get this
31 Aug
Posted by Allison Thomas as Corporate Finance
What are you buying when you purchase health insurance, and how do you know if you are getting a good deal? The answers to these questions depend on your understanding a few basic health insurance concepts. Don’t worry, these are easy to grasp and well worth the time when you start shopping for the best, low cost health insurance. The point of this article is to help guide you through these basics so that you better understand what you are getting when you buy a health insurance plan.
One of the first things to understand is that when you purchase health insurance, just as with any kind of insurance, you are purchasing a sort of contract that guarantees you a specific set of benefits. I
The Association of Financial Advisers (AFA) has formed a group to look at the implications of the various proposed legislative reforms of the financial services industry.
The Future of Financial Advice Working Group will be jointly run by Aon Advice MD Pierre Kraft and Australian Financial Services MD Peter Daly.
Other members of the group are Christina Kalantzis of Alexis Compliance Risk Solutions; Sean Graham from Millennium 3; Maria Cheers of Pivotal; Stephen Knight from Knight Management; AFA President Jim Taggart; Mark Stubbings of PIS; Jennifer Brookhouse from Strategy Steps and Karen Davies of CommInsure.
AFA CEO Richard Klipin says the group will investigate the impact of the proposed reforms on the industry and take its findings to Canberra.
“It is our role to discuss with the industry issues that affect how our members operate in the future and deliver our collective view to Canberra,” he said.
“We believe the group will lead the way in informing the Government on the real impact of reform on consumers, advisers, the financial advice industry and on Australia as a whole.”
Mr Daly says the proposed regulatory changes could have a serious impact on the way advisers work as well as implications for clients.
“There is a lot at stake with these proposed reforms and it’s critical that Treasury understands the nuances of the market place,” he said.
Five sub-committees have also been formed to develop policy positions on remuneration, fiduciary duty, intra-fund advice, volume-related payments and insurance.
Benchmark crude for October delivery was down 38 cents at US$74.79 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose US$1.81 to settle at US$75.17 on Friday.
Federal Reserve Chairman Ben Bernanke said Friday the central bank was ready to step in if the U.S. economy showed further signs of weakening. Bernanke’s comments sparked a stock market rally, with the Dow Jones industrial average jumping 1.7 percent Friday.
Most major European and Asian stock markets followed the U.S. lead and rose Monday.