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If inventories remain higher for longer, swings in business demand will be greater
Two very different problems present challenges for investors
No one company can dictate fashion but bellwethers like M&S are still needed
Household confidence is at its highest level since 2010
Corporates face surpluses being put to work to ease public strains
Companies’ growing cash piles are irking shareholders and stunting growth
Cut-backs by companies rather than households fuelled US recession
International Edition