10th March 2013
1) Barclays paid 428 staff more than a million pounds as the BBC reports. Investors need to consider whether this is worth the money or not i.e. what it means for the share price long term. It does suggest that Barclays ownership of a large investment banking division in the US will give it a public relations headache with the British public for a long time to come.
2) Standard Life Investments does not think that the global rally is entirely down to irrational exuberance from the markets, but is due in part to a housing market recovery in parts of the globe. Mindful Money reported the nuanced views of Standard Life global strategist Andrew Milligan.
3) The US recovery is looking pretty solid despite the risks of sequestration. The US added 236,000 jobs in February as the BBC reports.
4) The Office for Budget Responsibility is prepared to rebuke the Prime Minister David Cameron when it feels he has not attributed views to them accurately. The Independent reports on OBR boss David Chote writing to the PM to say he was wrong to suggest the OBR does not see government austerity policies – cuts and tax rises – as at least one reason for the UK’s low growth.
5) More concerning for the Government may be the fact that a majority of Conservative voters don’t think austerity is working according to pollsters Opinium while YouGov poll suggests most voters want George Osborne to be replaced by William Hague. Not good news for the Chancellor in the run up to the Budget as Bloomberg reports.
6) And one thing to watch out for. Samsung launches a new phone on Thursday, the Galaxy S 5. The big question for investors is will it take another bite out of the Apple share price?