Death Star Economics



€1.45bn fine for electronics cartel, capital gains at heart of US negotiations

In the UK, George Osborne is currently delivering the Autumn Statement, a summary will follow tomorrow.
Before the announcement, the Telegraph says that Italy is the only country with a slower growth rate than the UK in the G7, while the BBC said

If the figures are as bad as many expect, the chancellor could be forced to abandon two key coalition targets: A five-year plan to eliminate the underlying deficit, which could be stretched to eight years, and his commitment to have Britain’s debts falling as a share of GDP by 2015.

Another point of concern that is likely to be covered are new rules for pension funds’ reporting standards. Under a new “long-term view on projected returns,” numbers could smoothed to a five-year average. Not sure how that’s going to solve the problem. Looks like a layer of opaque glass to me.

The fiscal cliff has turned into the continuation of the presidential election campaign, with the Republicans fighting against an increase in capital gains tax. It was proposed that alongside other tax increases to step away from the cliff, capital gains tax should be raised from 15% to 23.8%. While the tax increase on dividends, that could cross the 40%-mark seems much less of an emotional issue, capital gains tax is as important to the GOP as guns. read article

In Australiaeconomic growth slowed slightly, as the government is implementing spending cuts in trying to meets its budget surplus targets for 2013. BUDGET SURPLUS!

In the world of retailTesco has decided to abandon its American Dream and let go of Fresh & Easy. While Wal-Mart is a potential buyer of the stores, Tesco will probably have to write part of the investment £1bn off. Fresh & Easy is expected to have lost £850m by February 2013. Although Wal-Mart is doing well overall, it also got the home advantage. Elsewhere, the company may face legal chargesIndia only lifted its FDI-ban on retailers in September of this year, but Wal-Mart snuck its way in all the way back in 2010, by investing in a consultancy that had started its corporate existence as a retail holding. read article

Taiwanese electronics firm Chunghwa Picture Tubes blew the whistle on a cartel that had been fixing prices of TV and monitor cathode-ray tubes for the last 10 years. The European Commission fined Phillips, Panasonic, Samsung, Toshiba, LG, Samsung, Technicolor and selected affiliates a grand total of €1.45bn for violating antitrust laws. Chunghwa seems to have learned – two years ago it had to pay towards an overall fine of €648m against a cartel of LDC manufacturers.

So long.


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One Response

  1. princess1960 says:

    hello ..every day less information .why?
    G.OSBORNE i like (i don’t know who is advicer) but HIS good .he try to move from the bad situation (specialy) from bad EUZ colaps is AND ALL THE METRA is very logic not hypervolice..
    -TW electronice ..will fix allways technology have concurance they needed good Mangering ..
    thank you
    so long you think?

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