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Why is the stock market near an all time high, as I mentioned. Why? Company profits. Markets move on expectations. We expected far worse earnings after the credit crunch. So stock markets sold off and became cheap.

The first week back from a holiday brings a fresh perspective and a new impetus to your work. While of course the day-to-day business of diplomacy goes on – as witnessed by the successful visit to Pakistan by the Secretary of State for Defence,...