Finance Shorts 18/08/06

Finance Shorts 18/08/06

*?There are few funds that are explicitly behavioural... A behavioural finance fund is not a strong marketing strategy. The general person is not impressed with psychology or investment research...? - [http://www.ft.com/cms/s/e81967fe-2bb7-11db-a7e1-0000779e2340.html|Professor Robert Shiller] in the FT. *[http://physics.ucsc.edu/people/eudaemons/eudaemons.html|The Eudaemons] featuring [http://physics.ucsc.edu/people/eudaemons/layout.html|The Shoe Computer]. *[http://www.thekirkreport.com/2006/08/snippets_and_ti.html|Plenty of Shorts from Charles E. Kirk]. *[http://www.ft.com/cms/s/6b1554ac-2bad-11db-a7e1-0000779e2340.html|Russian equities not for the timid]. *We suspected [http://business.guardian.co.uk/story/0,,1852694,00.html|private equity firms] had more cash than they could sensibly invest. Now we know for certain. Three big American funds, and one Brit, have been talking up the idea that they might buy NTL, the cable group, for bn, or £10.8bn. If it happened, it would be the biggest buyout seen in Europe and surely one of the daftest. *[http://news.bbc.co.uk/1/hi/business/5261734.stm|Time Warner is to restate its accounts for the past six years] after it was found to have improperly accounted for deals involving its internet arm AOL. *High oil prices are expected to bring export [http://www.startribune.com/535/story/616638.html|earnings in excess of 0 billion] to the six member nations of the Gulf Cooperation Council, according to a report Tuesday from the Institute of International Finance. The six countries are Saudi Arabia, Kuwait, the United Arab Emirates, Oman, Bahrain and Qatar. Collectively, they account for 40 percent of world oil exports. *Banks need billions of rupees as capital this year to meet the new regulatory norms, but they are [http://www.investmentbankingcentral.com/2006/08/banks_in_no_rus.html|not in a tearing hurry] to tap the equity market. This is despite the best of times for banks on the bourses. *In line with the July 31, 2006, announcement to reduce its excess capital by buying back its own shares, [http://www.banking-business-review.com/article_news.asp?guid=1CA33035-3D62-4865-95F0-C98B386D57A6|ABN Amro is to begin buying back E750 million of its own stock]. *European investment bank and wealth manager UBS has amazed industry analysts by reporting [http://www.banking-business-review.com/article_news.asp?guid=8E0CC6DD-0B91-4E85-86F4-8FC102A36322|a 47% jump] in its second quarter profits compared to last year as business boomed across the firm's many divisions. *[http://news.bbc.co.uk/1/hi/business/4796649.stm|Optimism among US house builders] has fallen to its lowest level in 15 years, the latest sign that a once booming market has now slowed sharply. *Brazil's current account surplus hit [http://news.bbc.co.uk/1/hi/business/5260642.stm|a record] level in July, indicating that exports are growing strongly. *[http://news.bbc.co.uk/1/hi/business/5260166.stm|Oil prices] have fallen to their lowest level in nearly two months as the continuing ceasefire in Lebanon and healthy US stockpiles calmed markets. *The mainland European economy, buoyed by a resurgent Germany, is expanding at its fastest rate for six years, outstripping Britain and the US, fresh figures show. [http://business.guardian.co.uk/story/0,,1844519,00.html|Domestic euphoria] over the football World Cup held in Germany boosted the country's economy, which grew by 0.9% in the second quarter, the fastest growth for more than five years. *Israel's army chief has denied any [http://news.bbc.co.uk/1/hi/world/middle_east/4797471.stm|wrongdoing] in selling his share portfolio hours after Hezbollah captured two Israeli troops. Lt-Gen Dan Halutz said it was "impossible" to link the sale of shares worth 120,000 shekels (,500; £14,500) to the conflict that unfolded. *Naina Lal Kidwai, the new CEO elect of HSBC India, has been told by domestic regulators to give up her non-executive seat on Nestle's board due to [http://www.banking-business-review.com/article_news.asp?guid=959A400D-C4BD-43F0-9BC2-2A280AF35D28|conflict of interest concerns]. *Saudi Arabia has confirmed it is to buy [http://news.bbc.co.uk/1/hi/business/5262120.stm|72 Eurofighter Typhoon aircraft] from the UK, in a deal that could be worth more than £6bn. *The UK government has pledged to help tackle [http://www.banking-business-review.com/article_news.asp?guid=3C1DF74A-E7EA-4114-A35F-0DFF754379AD|Britain's growing mountain of consumer debt] by investing further into free advice services and improving consumes' financial knowledge *When companies set out to design a radically new product or service, they take [http://www.businessweek.com/innovate/content/aug2006/id20060818_495984.htm|risks that can't necessarily be measured with standard financial models]. But David Apgar, a managing director of the Corporate Executive Board, believes that such risks?the danger of alienating consumers with a daring brand extension, for example?can still be managed efficiently to avoid spectacular flops. *In the world of super-luxury vessels, size really does matter. Here's [http://www.businessweek.com/innovate/content/aug2006/id20060807_911055.htm|a guide to the biggest yachts around and who's got 'em]. *The town of Pforzheim in south-west Germany is famous for its jewellery and watch-making industry and accordingly is known as ?the City of Gold.? The city is also the home of [http://www.businessweek.com/autos/content/aug2006/bw20060815_988804.htm|the first Gold-plated Porsche]. ^ *NatWest and Royal Bank of Scotland are being investigated for allegedly dumping customers' financial details in bins. The Information Commissioner's Office is looking into [http://business.guardian.co.uk/story/0,,1852441,00.html|claims that data protection rules have been breached], following a complaint from the campaign group Scamsdirect. It said it had found customers' personal details in bins near two bank branches in Hampshire. *[http://news.bbc.co.uk/1/hi/uk/4801323.stm|Being 34 years old is considered the most costly age], according to a UK survey. On average it was the most expensive year, the survey of 1,990 people by Axa Wealth Management suggested, with an average of £32,441 extra needed. *UK Graduates leaving university this year had [http://news.bbc.co.uk/1/hi/business/4790583.stm|average debts of £13,252], a 5% increase on 2005, a survey has said. *UK Sixth formers starting university this year can expect to pay a record [http://business.guardian.co.uk/story/0,,1850992,00.html|£33,512 for a three-year degree course] - £5,000 higher than last year. *[http://news.bbc.co.uk/1/hi/business/4790293.stm|Bank account details] belonging to thousands of Britons are being sold in West Africa for less than £20 each. *[http://business.guardian.co.uk/story/0,,1850995,00.html|UK Unemployment figures for July] come on the 20th anniversary of the postwar peak in the unemployed claimant count. In July 1986 the number of people on the dole hit almost 3.1 million, 10.6% of the workforce. Today, on comparable figures, it is less than a million, with a rate of 3%.^{content id=220}{content id=35}

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