Sunday 28 April 2013

#15 Read read read

At the start of this year, when people were coming up with their resolutions, I decided there were three things I wanted to focus on: Running, relationships and reading. When it comes to running, I thought maybe I'd do a half marathon, my relationship goal was to have one and for the reading, I thought maybe reading a book a month would be a good target. By the way, you should never "think maybe" your resolutions, or any goal for that matter. Using strong, definitive language is much better.

My behavior over the past three weeks ties in with the whole wanting to read more deal. Now, reading isn't a completely efficient way of learning, in fact you can read an entire book and forget almost all of it, except for the high-level storyline. It can help to mix what you've read with some writing and what I've been doing lately is to write down short summaries of the main articles appearing in CityAM and what I'm going to do now is to list four days' worth from earlier this month.

UK household wealth rises due to growth in financial assets e.g. pensions
Portugal announces government spending cuts and is trying to extend its bailouts
There are now more people in the 40% income tax bracket
Vince Cable wants to stop HBOS' former directors from holding future directorships
The Insolvency Service is reading the FCA report on HBOS and may investigate further
Eleven EU states are backing the proposed transaction tax

Causes of the '80s big bang: Electronic trading, scrapping fixed commission and F.D.I.
Global music revenue is up for the first time since 1999
Portugal must implement its austerity measures to get its bailout extension
Cyprus is really struggling to pay pensions and civil servants in between bailouts
Japan continues to print money to fight deflation (prices fall, consumers wait, firms struggle)

HBOS CE gives up his knighthood. 
KPMG loses two US listed clients over insider dealing
Q1 2013 GDP is only just positive
The FCA is responsible for two thirds of the upcoming 15% rise in financial services regulation costs
Irish and Portuguese bailouts may be extended. Greece looks like it's deflating slightly
The insurer LV Mutual appears to be doing well and reports its highest ever profits

Bank of England calls for simpler financial services regulation
Bitcoin, the cyber currency for those losing faith in banks, is down 50% due to cyber attacks
Post Office is due to launch its own bank
Christine Lagarde, IMF MD, warns that large banks still need reform
Non-wage employment costs(tax, regulation) are low in the UK at 15% (33% France)

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