The index is not perfect and the relationship does not hold in reality because of a number of factors, but it is useful in highlighting big anomalies. Thus on a light-hearted look, Big Macs are now cheapest in Hong Kong and cost less in London than Zurich
With the Olympics, Paralympics and holidays, it can only be hoped that there is enough going on elsewhere to stop some of our more populist media from getting into a frenetic frenzy over the financial markets again.
However, while the newly elected president may have been sworn in and taken over the office of head of state, deep uncertainty lingers over how stable the political environment will remain.
While on a trip to Singapore, Mr. Reed, then head of Citicorp, wrote to Mr. Weill, the boss of Travelers Group Inc., with a novel idea: After we merge the two companies, let's quickly split them apart.
The latest UK GDP data, which showed a quarterly fall of 0.7% in 2012Q2, were far worse than expected.