Gold hits $1,300 for first time since November February 13, 2014 Gold has been climbing after today's disappointing US figures, and prices just hit a November 2013 high. While 2013 was a year that saw gold prices in decline, they're now back up to $1,300/oz. ABN Amro analyst Georgette Boele says that "the short-term drivers seem supportive for gold because we had quite a lot of [...]
Political risk prompts Brewin Dolphin downgrade of UK utilities February 13, 2014 The UK’s utilities sector was given another blow today with a downgrade from Brewin Dolphin to underweight. The researchers are also downgrading their recommendations on the two FTSE 100 energy suppliers Centrica and SSE to "hold". The downgrades were partially triggered by energy secretary Ed Davey writing to the regulators this week, calling for the [...]
Investment banks throw toys out the pram with new FX trading platform February 13, 2014 Fourteen investment banks, including some of the biggest names in foreign exchange trading, are setting up a new trading platform so they can escape the pressure from high-frequency traders (HFT). Citi and JP Morgan today joined ParFX in a bid to duck out of the HFT arms race which has seen increasingly huge sums spent [...]
Shopping centre sales jumped by 70pc last year February 13, 2014 Shopping centres were caught up in a whirlwind of activity last year. A total of 84 centres worth £4.58bn changed hands, up 70 per cent on the previous year when £2.7bn of assets were sold, with this activity set to continue into 2014, according to Savills research. The weight of capital coming into the sector [...]
What you need to know before the US open – 13/02 February 13, 2014 Markets are in the red today, and US markets are expected to track counterparts lower, as the S&P 500 futures shed 0.7 per cent. The dollar’s hit a two-week low against the euro, adding to investor disappointment of its failure to take off this year. The weather is continuing to wreak havoc and the ground and [...]
Is Europe turning Japanese? Barclays really thinks it could be February 13, 2014 Is the Eurozone falling into a deflationary spiral? Two more bleak pieces of research earlier suggest that at best, Europe’s inflation outlook is failing to improve, and at worst, it may face a “Japan-style deflation cycle”. The European Central Bank’s monthly bulletin’s survey of forecasters suggests disinflation is still going on – they project 1.1 [...]
This Valentine’s Day’s most unromantic gestures February 13, 2014 It’s the day before Valentine’s Day. Millions of people are no doubt racking their brains to think of something romantic to do for their loved one, manically typing “Valentine’s ideas” into Google and hoping some fresh idea will have appeared since they first Googled it this morning. The weather’s too bad for a romantic [...]
EU politicians have just hacked down the invention that could beat hunger and poverty February 13, 2014 A GM crop has been cut down by EU ministers. Earlier this week, news came that European ministers were about to decide on whether to sanction the cultivation of a new for of GM maize in the EU. At the meeting in Brussels, 19 of the EU’s 28 opposed approval of the insect-resistant Pioneer 1507. [...]
Nuclear bunker on the market for £50,000 February 13, 2014 A spacious property with space for 16 people has been put on the market with a guide price of just £50,000. The downside is that the property is a 1978 bunker built by South West Water to keep the region’s sewage flowing in the event of a nuclear attack. The water company is selling off [...]
Labour will win Wythenshawe – But it matters most as a test for Ukip and the Tories February 13, 2014 (Laura Lean/City A.M.) The outcome of today's by-election in Wythenshawe and Sale East is a foregone conclusion. It’s a safe Labour seat where the party had a 7,575 majority in 2010, with the by-election triggered by the sudden death of widely-admired Labour MP Paul Goggins. No-one expects anything apart from a Labour victory. But Wythenshawe matters. It's [...]