London (CNN) – The news this week that a young couple in northern England won £45 million ($70 million) on the eurolottery set me thinking. And thinking. In fact anyone who heard of the story has surely spent more than a few moments thinking - what would I do with that money?
To start with, I worked out what I would get if I just left it on deposit in the bank. Offshore, of course. Assuming I tied it up for five years. Since it is a sterling win, I could get around 2% on deposit which would give me an income of £900,000 (£450,000 after tax at 50%) Not shabby, but probably not enough!!
London (CNN) – Give eurozone finance ministers credit.
Markets had been rising. The euro was at a two month high. The banks had apparently agreed to take a steep loss on the Greek bonds they hold, or bought in the secondary market for cents on the euro.
Then, they snapped defeat from the jaws of victory. Why?
Greek politicians have now been told they need to put austerity pledges in writing and then into law, all by next Wednesday; the new deadline.
Hong Kong (CNN) – When Internet giant Yahoo bought a 40% piece of Chinese business-to-business online company Alibaba in 2005, the $1 billion deal was hailed as a unique coup for the U.S. web site – and a quick way to get a stronger toehold among China’s then-100 million online users.
What a difference seven years makes.
In recent months Yahoo has seen its CEO Carol Bartz and founder Jerry Yang shown the door, followed this week of four board members – including the chairman – departing, as shareholders lose patience with the firm’s performance.
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