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Money | Anorak - Part 20

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Money in the news and how you are going to pay and pay and pay

Microsoft buys out Nokia’s handset business: market freezes

The Nokia brand name is displayed on the floor of the New York Stock Exchange in New York, Tuesday, Sept. 3, 2013. On Tuesday, Microsoft announced it would pay $7.2 billion to acquire Nokia's line-up of smartphones and a portfolio of patents and services. (AP Photo/Seth Wenig)

SO. Microsoft has taken the plunge and bought out Nokia’s handset business. They didn’t pay that much for it, under £5 billion all in, which is a good insight into what a parlous state the business is in. This leaves …

Posted: 3rd, September 2013 | In: Money, Technology | Comment | Follow the Comments on our RSS feed:RSS 2.0


What the Co Op bank tells us about the financial crash

PA-17071558SO it looks like the Co Op Banks has only just managed to avoid going tits up:

The Co-operative Group has plunged to a £559m first-half loss as bad debts in its banking arm wiped out profits from its

Posted: 2nd, September 2013 | In: Money | Comments (2) | Follow the Comments on our RSS feed:RSS 2.0


Fast food workers protest is the most stupid strike in history

Protestors demonstrate outside a fast food restaurant on Thursday, Aug. 29, 2013, in Los Angeles. Fast-food protests were under way Thursday in U.S. cities including New York, Chicago and Detroit, with organizers expecting the biggest national walkouts yet in a demand for higher wages. (AP Photo/Nick Ut)

IN the  US fast food workers went on strike to demand a $15 an hour pay settlement. Up from the current $8 or so they get.

The Guardian rolled out one of the strikers to tell us all what it …

Posted: 2nd, September 2013 | In: Money | Comments (2) | Follow the Comments on our RSS feed:RSS 2.0


Isn’t this a surprise! Greece will need another bailout!

Supporters of the far-right party Golden Dawn hold up Greek flags and a sign that reads in German ''Merkel get out'' during a protest outside the Germany embassy in Athens on Friday, March 22, 2013. The party protested Germany's lead role in Cyprus' bailout crisis, as the island remains on the brink of bankruptcy. (AP Photo/Thanassis Stavrakis)

LOOKS like the Germans are finally waking up to reality here, admitting that Greece will need another bailout.

Ms Merkel’s finance minister, Wolfgang Schaeuble, admitted last month that Greece will need another bailout, raising fears among Germans that they

Posted: 29th, August 2013 | In: Money | Comment | Follow the Comments on our RSS feed:RSS 2.0


How to make 7p a minute from cold calls

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ANNOYED by cold callers, In November 2011 Lee Beaumont paid £10 plus VAT for a premium rate 0871 line. Calls to the number cost 10p, of which he gets 7p. Mr Beaumont has made £300 from cold callers. He told …

Posted: 29th, August 2013 | In: Money | Comment | Follow the Comments on our RSS feed:RSS 2.0


Italian smuggles his factory to Poland

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I REALLY do like this story. Bloke in Italy, company’s not making any money. And it’s Italy, so he can’t fire anybody or lower wages or anything. So, over the annual shutdown he simply packs up all the kit and …

Posted: 23rd, August 2013 | In: Money | Comment | Follow the Comments on our RSS feed:RSS 2.0


Have more sex: you’ll earn more money!

1284784534373_2459216HAVE more sex to earn more money. That’s what seems to be the message of this new economics paper. People who have more sex earn more money than those who have less sex:

Using two stage estimations we examine

Posted: 19th, August 2013 | In: Money | Comment (1) | Follow the Comments on our RSS feed:RSS 2.0


Lion starts barking in Chinese zoo

THE Chinese are known for their duplicates. Even the nation’s zoos are trying the same tactic:

A Chinese zoo’s supposed “African lion” was exposed as a fraud when the dog used as a substitute started barking.

Come see the …

Posted: 17th, August 2013 | In: Money, Strange But True, The Consumer | Comment | Follow the Comments on our RSS feed:RSS 2.0


BT’s really screwing up this broadband, isn’t it?

THE Guardian is ranting and railing about how appallingly BT is rolling out fast broadband around the countryside. There’s a useful economic point to be made about this:

Given that everyone agrees that getting Britain online is a public

Posted: 14th, August 2013 | In: Money, Technology | Comment (1) | Follow the Comments on our RSS feed:RSS 2.0


Maths offers absolute proof that Zombies don’t exist

A couple pose together, dressed as zombies attend the Zombie Walk in Belgrade, Serbia, on Saturday, Oct. 20, 2012. (AP Photo/Darko Vojinovic)

AN interesting little piece of mathematics here which should be, but isn’t, used to show that zombies cannot possibly exist. The point being that they show that there’s no stable equilibrium: there’s no way to have there be some zombies …

Posted: 14th, August 2013 | In: Money | Comment | Follow the Comments on our RSS feed:RSS 2.0


Neoliberal globalisation is making those exploited foreigners richer than us

MAKING people rich that is, that’s the justification for all this neoliberal globalisation stuff. And it works too: it’s just not us that are getting rich.

Nearly 1.7 billion people planet-wide live in countries where the average income per

Posted: 14th, August 2013 | In: Money | Comment | Follow the Comments on our RSS feed:RSS 2.0


How can we tax Amazon’s Profits if Amazon doesn’t make any profits?

File photo dated 26/04/13 of the Amazon logo on a package as the online retail giant has broken advertising regulations with a description of a book promoting a vaccination-free childhood, the regulator has ruled.

YOU’LL have seen all the furore about how Amazon are such bastards for not paying any taxes on their vast profits made by selling us stuff for cheap. You know, there’s shouts from the supermarkets that there should be a …

Posted: 7th, August 2013 | In: Money | Comments (2) | Follow the Comments on our RSS feed:RSS 2.0


Real Madrid and Barcelona: Buying Spurs Gareth Bale and other stars is part of a tax scam?

THIS tax story is really getting out of hand: they’re insisting that Real Madrid and Barca are tax scams now:

Those four are Real Madrid and Barcelona, who also take around 50 per cent of La Liga’s total television

Posted: 7th, August 2013 | In: Money, Sports | Comment | Follow the Comments on our RSS feed:RSS 2.0


How cutting bankers’ bonuses buggers up bankers’ pay

ONE of the odder parts of the furore over the banks, greed, financial crashes and what causes them is this idea that if we cut bankers’ bonuses then everything will be better. The problem with this idea is that everything …

Posted: 6th, August 2013 | In: Money | Comments (3) | Follow the Comments on our RSS feed:RSS 2.0


Fracking madness: In what way is a higher than normal tax rate a tax break?

Anti-fracking protesters at Balcombe, East Sussex, as fracking firm Cuadrilla tries to move equipment on site for exploratory drilling for oil.

I HAVE to admit that there are certain minds that I just cannot worm my way into. Just cannot grasp what is going on in the minds of people who say such stupid things:

George Osborne has infuriated environmentalists

Posted: 4th, August 2013 | In: Money | Comment | Follow the Comments on our RSS feed:RSS 2.0


Apple’s still being complete bastards to the Chinese workers

APPLE’S being complete bastards to Chinese workers. Well, so says a new report out today from China Labor Watch: Apple’s still being entirely bastardly towards the workers in China that make so much of their kits. After all that stuff …

Posted: 4th, August 2013 | In: Money, Technology | Comment | Follow the Comments on our RSS feed:RSS 2.0


Facebook mobile results lead to stock soaring 17%

THE big thing no one was really sure about with Facebook was how it was going to deal with the move to mobile. The recent results give us some insight into that and the shares have risen 17% as a

Posted: 2nd, August 2013 | In: Money | Comment | Follow the Comments on our RSS feed:RSS 2.0


Obama threatens a repeat of Trayvon Martin, Christopher Newsom and Channon Christian

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BARACK Obama says that race relations are going to get worse in America unless… The White House Dossier reports:

President Obama said that if economic prescriptions of the type he supports to increase economic growth and reduce “income inequality” are

Posted: 1st, August 2013 | In: Money, News, Politicians | Comment | Follow the Comments on our RSS feed:RSS 2.0


It goes down: that’s what the minimum wage is supposed to do you dimbulb idiot

DEAR Heaven above wouldn’t it be nice to be ruled by people of a slightly higher intellectual capacity than this? Here we’ve got the ex-head of the organisation that sets the minimum wage, The Low Pay Commission, complaining about the …

Posted: 30th, July 2013 | In: Money | Comment | Follow the Comments on our RSS feed:RSS 2.0


The Bank of England keeping token women on banknotes is no victory

LIKE many people, I’m delighted with the news that the Bank of England will be keeping women on our banknotes. I made this cartoon in support of the campaign.

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There’s a few things about the reaction to the news …

Posted: 26th, July 2013 | In: Money, News | Comment | Follow the Comments on our RSS feed:RSS 2.0


So what first attracted you to the multi-billionaire Eric Schmidt then?

THE Mail is reporting that Eric Schmidt, the multi-billionaire chairman of Google, has a penchant for shagging around a bit.

Yet today The Mail on Sunday can reveal that 58-year-old Eric Schmidt, Google’s executive chairman, does fiercely protect one

Posted: 26th, July 2013 | In: Money, Technology | Comment | Follow the Comments on our RSS feed:RSS 2.0


Thom Yorke and Johnny Lynch entirely misunderstand Spotify and online music

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THIS is one of those newspaper pieces where you have to check that the people are still living on the same planet as the rest of us. They’re talking about whether Spotify is paying enough in royalties to the musicians …

Posted: 26th, July 2013 | In: Key Posts, Money, Music, Technology | Comments (3) | Follow the Comments on our RSS feed:RSS 2.0


An absurd story on Formula One tax dodges

THIS absurd tax story is brought to you by The Independent:

The standard rate of corporation tax in the UK is 24 per cent of a company’s profit. The F1 teams tend to avoid this because they spend all

Posted: 26th, July 2013 | In: Money, Sports | Comment | Follow the Comments on our RSS feed:RSS 2.0


Crystal Palace underground toilets are now a compact and bijou home (photo)

ARCHITECT Laura Jane Clark has transformed these ancient Crystal Palace Parade underground toilets (built: 1929; closed in the 1980s) into a 600 square foot home.

She bought he lavs for £20,000, invested £65,000 and now owns an underground home that …

Posted: 24th, July 2013 | In: Money, The Consumer | Comments (2) | Follow the Comments on our RSS feed:RSS 2.0


The idiocy of gambling on dumb luck

THE seductive idiocy of gambling on dumb luck: Chris Dillow reviews:

Jordi Brandts and colleagues got a group of [fourth-year finance] students to predict a sequence of five coin tosses, and then selected the best and the worst predictor.

Posted: 23rd, July 2013 | In: Money | Comment | Follow the Comments on our RSS feed:RSS 2.0