What you need to know before the US open May 28, 2014 US markets are expected to open up today, with what’s a quiet day for economic data and a record close yesterday. Futures suggest this will be built on. Weekly mortgage application numbers showed a 1.2 per cent fall last week, following three weeks of gains. The economics calendar is busier tomorrow, with pending home sales [...]
When will China and India make it to the World Cup Final? One investment bank thinks it has the answer May 28, 2014 China and India may be two of world's rising economic powerhouses but when it comes to the beautiful game, these giants of the global economy are nowhere to be seen. How long will be until the two countries which account for over a third of the planet's population make it to a World Cup final? [...]
What the World Cup tells us about stock markets, inflation and crime May 28, 2014 The great thing about football is its unpredictability, but what if those seemingly random scorelines and results foreshadowed more quantifiable trends in society, like crime rates, inflation, and stock market performance? In a well received report out today, analysts at Goldman Sachs have looked at the links between World Cup statistics and finance and business [...]
Why Goldman Sachs thinks England is heading out at the group stages – and why we should be celebrating May 28, 2014 Don’t bin your England shirt and tear off your white and red wig in disgust when we crash out of the World Cup this summer – our inevitable footballing failure is a bullish sign for the economy. Possibly. Goldman Sachs has predicted today that England will exit the tournament at the group stage, following [...]
In Pictures: The evolution of Google’s driverless car May 28, 2014 It’s here, it’s finally here. Well, not actually here, Google’s hallowed driverless car is still in Silicon Valley – still, we imagine, driving around the Mountain View-based, Googleplex car park. But we’ve seen photos, so we know a fully-fledged prototype exists. Google's Sergey Brin calls it “chauffeur.” The car has had mixed reviews, with [...]
Lord Oakeshott resigns from Lib Dems, slamming Clegg’s leadership May 28, 2014 Lord Oakeshott is resigning from the Liberal Democrats party, taking a "leave of absence" from the House of Lords, as first reported by ITV News' political correspondent, Libby Wiener. The news follows a leaked opinion poll that he commissioned and which, it's been claimed, undermined party leader Nick Clegg. Oakeshott's said the party's "heading for disaster" [...]
MtGox operator set to sell Bitcoin trademarks May 28, 2014 The holding company of the stricken Bitcoin exchange MtGox is hoping to sell the trademarked word Bitcoin, according to the Wall Street Journal. Tibanne is looking to raise around $1m from the sale, which would include the Bitcoin trademarks in Japan, the European Union and the Bitcoins.com domain name. The company's chief executive said they [...]
Value of London mortgages rockets 37pc May 28, 2014 Another sign of the surging housing market: the value of mortgages to home buyers in Greater London jumped 37 per cent from a year earlier in the first quarter of this year – to £5.6bn. The figure was actually down 10 per cent from the fourth quarter of 2013 – a seasonal dip impacting lending, [...]
Francis Maude brings Investec boss and angel investor onto Big Lottery Fund board May 28, 2014 Cabinet Officer minister Francis Maude has appointed three new board members to the Big Lottery Fund, the body that distributes money raised by the National Lottery. Managing director of Investec Asset Management, Elizabeth Passey, Perdita Fraser, an angel investor and partner at consultancy firm SJ Fraser & Co, and David Isaac CBE, a partner at [...]
Eurozone consumer confidence rises in May May 28, 2014 Confidence in the Eurozone economy is on the rise. The European Commission's consumer confidence index rose to -7.1 in May, from -8.6 last month. Consumer confidence is now at its highest point since October 2007. Analysts had expected the improvement to -7.1. Eurozone business confidence was also up, to 0.37 from 0.30 in April. The [...]