Prem Sikka writes:
Another week, another merger and another stock market frenzy. This time the news that Asda and Sainsbury’s might merge has excited the speculators and they are busy buying shares to make quick profits.
At one point, Sainsbury’s share price rose by 20% as speculators scented gains for the merger. And the owners of these shares will decide the future of the companies – without any concern about the implications for employees, suppliers, customers and local communities.