The US Federal Reserve, in an
effort to take the pressure off the current credit crisis, has cut interest
rates by 0.5%, the first time they have been reduced since mid-2006.
The lending rate was cut from 5.25% to 4.75% and its effect was immediately
felt with shares climbing to four year highs.
Analysts were only expecting a 0.25% cut to prevent further damage from the
housing market downturn and credit problems.
However fears remain that reducing the rate by 0.5% will increase consumer
spending, pushing up inflation to uncontrollable levels.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements