Why the end of MtGox is great news for Bitcoin February 25, 2014 The death of Bitcoin’s most popular exchange couldn’t have come sooner. MtGox is reported to have lost up to 744,408 Bitcoin – or around six per cent of all in circulation – as a result of problems with its own software. That’s according to a currently unverified document, allegedly a leak from MtGox itself, after [...]
Eurozone at risk of deflation shock as ECB mulls its options February 24, 2014 Traders still expect policy action next week, but not all disinflation is seen as a problem for the single currency Yesterday’s upward revision to January’s Eurozone inflation reading did little to calm the nerves of those worried about a possible slip into Japanese-style deflation. The harmonised index of consumer prices (HICP) was revised up from [...]
CNBC Comment: G20 optimism clouded by fishy growth target February 24, 2014 THE GATHERING of the G20 group of finance ministers and central bankers in Sydney has now wrapped up. Often criticised for comprising too many nations and acting as little more than a talking shop, the G20 has sought to free itself of this image with a communiqué announcing its aim of boosting world GDP by [...]
DailyFX Tips & Picks: How to profit from the London FX volatility breakout February 24, 2014 LIVING in London has considerable value for foreign exchange traders. While the FX market is truly global, its heart and soul still reside in London. An estimated 30 to 35 per cent of foreign exchange flows transact during the London trading session, and this amount of liquidity can have numerous benefits for the trader. The [...]
DailyFX Tips & Picks: Analyst’s pick February 24, 2014 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long euro-dollar above $1.3770, short below $1.3680; watching euro-yen Expertise: Fundamental and technical analysis with risk management Average time frame of trades: A few hours to a few weeks Our attention is now more focused on the euro. It has proved resilient in 2014, despite deflation fears. But with [...]
Why Facebook’s $19bn Whatsapp purchase makes complete sense February 20, 2014 Facebook’s staggering $19bn (£11.4bn) payment for instant messaging service Whatsapp has knocked many market watchers over. Those numbers see the startup of just 55 employees valued at more than Marriot International, American Airlines, or Ralph Lauren. But Facebook isn’t here for Whatsapp’s lame profitability – it charges users $0.99 just once a year – it [...]
Against the Grain: What Italy and France should really learn about German economic resilience February 20, 2014 IT’S EASY to forget that Germany was once seen as the Sick Man of Europe. Between 1991 and 2005, its GDP growth averaged only 1.2 per cent a year, compared to 3.3 per cent in the UK. Since then, of course, the German economy has revived dramatically. The recovery in the German cluster of economies [...]
How Uber takes over a city in just four days February 19, 2014 Uber’s global expansion has exploded bringing the service to 74 cities since the start of 2011 – the ride-hailing app added 13 new cities in just the first 50 days of 2014 alone – and spearheading this rapid growth are a crack team known as launchers. Described as a blend between US Navy Seals and [...]
Greece posts first current account surplus since records began February 19, 2014 Greece has reached a current account surplus for the first time in 66 years, according to figures released on Wednesday by the Bank of Greece. The troubled EU nation posted a current account surplus of €1.2bn (£1bn) in January-December last year – compared to a deficit of €4.6bn the previous year. The Greek central bank [...]
Pictures: The Mayfair mansion that’s yours for just £65,000 a month February 19, 2014 Fancy living in a mansion in Mayfair but don’t want to commit? You could rent Audley House, one of the most expensive properties ever to be released on to the London lettings market at £65,000 per month. The property, a Grade-II listed Georgian mansion in Mayfair comes fully furnished and ready to move into [...]