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The Times: £23bn vanishes from economy as bosses put spending on hold

Raghavendra Rau, Sir Evelyn de Rothschild Professor of Finance at Cambridge Judge Business School comments on businesses’ capital expenditure plans during uncertain times. Professor Rau says that a key point about planned capex is “its option value, which lasts only up to the point at which hard cash is committed and becomes even more valuable in volatile times.” (subs)

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