New York Report: Wall St pushes stocks close to a record high March 18, 2014 US STOCKS climbed for a second straight session yesterday, with the S&P 500 within striking distance of its record after comments from Russian President Vladimir Putin lessened anxiety that tensions over Ukraine could escalate even further. Gains were broad, with nine of the 10 primary S&P 500 sector indexes higher for the day. An S&P [...]
Bitcoins are more like “glass beads” than money says Danish central bank March 18, 2014 Denmark's central bank has released a publication stating that "unlike precious metals such as gold and silver, Bitcoins have no actual utility value". And on that basis, the organisation says that they aren't really money at all, and instead bear "closer resemblance to glass beads." Of course, the physical value of gold is far removed [...]
Six new versions of puzzle game 2048 that you have to try March 18, 2014 First 2048 took the internet by storm, then came the clones. Developer Gabriele Cirulli tells us that the addictive puzzler now boasts over 4m visitors And as the 19 year old Italian made the game's code open source, coders have been able to make their own spin-offs the game. Cirruli says that the internet has [...]
Nasdaq OMX becomes first clearing house to bag European approval March 18, 2014 Nasdaq OMX, the Stockholm-based multi-asset clearing house, has become the first in Europe to be authorised as compliant under new, tougher European regulations designed to increase oversight of derivatives markets. The Swedish Financial Services Authority formally approved the business today. Clearing houses are having to reapply to operate under the European Market Infrastructure Regulation (EMIR) [...]
Could Portugal be the next Germany? March 18, 2014 “Portugal is on track to repeat Germany’s successful conversion from the unsustainable sick man of Europe to a competitive and balanced growth champion.” A note this morning from Christian Schulz, senior economist at Berenberg, says that Portugal is the new Germany. The bank thinks that after a contraction of 3.2 per cent in 2012 and [...]
UK suspends military cooperation with Russia after Putin signs Crimea treaty March 18, 2014 Foreign secretary William Hague has said Britain has suspended bilateral military cooperation with Russia, including arms exports, in a move responding to Russia’s annexing of Crimea. President Putin has formally signed a treaty to accept the “Republic of Crimea” into the Russian Federation, saying he does not plan to seize any other regions of Ukraine. He [...]
How a Budget carbon tax freeze would affect SSE and Centrica March 18, 2014 A freeze to the carbon price floor looks increasingly likely in the Budget tomorrow, which would have mixed effects on FTSE 100-listed energy giants SSE and Centrica. There is pressure on the government to freeze – or even cut – this controversial tax on fossil fuel emissions, which some argue is making energy-intensive industries in [...]
Shakeup at the Bank of England could bring a hawkish surprise March 18, 2014 Sweeping changes are on the way at the top of the Bank of England, with the IMF’s Nemat “Minouche” Shafik hired as deputy governor for markets and banking, and MPC member Ben Broadbent promoted the deputy governor for monetary policy. The changes this summer will also lead to Andy Haldane becoming chief economist, and markets [...]
Pictures: City accountancy group gives a rat a home March 18, 2014 Accountants and street art might not be your traditional bedfellows but it seems one City-based accountancy group has stepped up to look after a rare work by Banksy, which has been searching for a good home since its discovery in February. The painting, Lab Rat, was rediscovered in a warehouse and was being looked [...]
What you need to know before the US open March 18, 2014 US markets are expected to open lower today. European counterparts have headed higher, but investors will be looking towards comment from Fed chair Janet Yellen tomorrow, as the bank puts forward its latest monetary policy decision. It’s expected to continue with its tapering programme. There are also have the latest inflation figures to digest. US [...]