Michael Murray: Minimum wage hike is comparatively good news
A higher minimum wage might be the least of the worries for investors in the months ahead
Stock market investors may well worry about the rising tide of government intervention across the developed world. The most immediate development – the raising of the minimum wage – need not be close to the top of the list of concerns in terms of the macroeconomic effects on their equity portfolios, even if it has some dilutive impact on earnings per share. The current economic, financial and political environment – here, in Britain, Europe, China...
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