Here’s why the market would be really surprised by a US jobs surprise January 10, 2014 As we look ahead to the day's big event – US labour market data – one analyst thinks the event is becoming boring. Kit Juckes of Societe Generale says that the volatility of the monthly nonfarm payrolls released, measured by a rolling 36-month standard deviation, is at its lowest level since January 1986. Analysts are [...]
The energy helping Big Oil lead the international charge January 10, 2014 With independent oil companies dominating in the US, Big Oil (the biggest five or six global oil companies) is now "leading the international charge", becoming "more and more relevant to mainstream investors", says investment bank JP Morgan. And it's unconventional energy that's helping Big Oil lock down the most material opportunities, set to take up [...]
UK’s manufacturing recovery stutters in November January 10, 2014 Manufacturing's revival has lost some momentum. While analysts had expected to see production expand for the third consecutive month, new figures from the Office for National Statistics show that it was flat in November. Rob Wood, chief UK economist at Berenberg, says that the "hard data is not keeping pace with the red hot business [...]
JP Morgan think a lack of frack is hurting European chemicals January 10, 2014 JP Morgan has warned that the rise of shale gas could prove to be a "structural negative" for the European chemicals industry. JP Morgan remains negative on the European chemical sector citing BASF, Solvay, Lanxess (all under weight) as its least preferred options. However, US chemical producers are booming due to a sharp fall in [...]
This former Swiss banker has chosen a surprising new career January 10, 2014 A former employee says she faced a "lot of suspicion and ridicule" when she let go of her career at Swiss bank Pictet. Silvia Bignoni went on to become founder of Pole Glam Studio in 2010, and despite great success in her sport she still gets weird comments and twisted proposals. She told French language [...]
Serco shares fall on bungled accommodation for asylum seekers January 10, 2014 Scandal-enveloped Serco and G4S – the security companies that over-charged the government for the electronic tagging of released, in jail or dead prisoners – have been criticised by the National Audit Office for failing to deliver on a £620m deal to provide accommodation for asylum seekers. Along with fellow contractor Clearel, G4S and Serco won [...]
Royal Mail price may have safeguarded future privatisations January 10, 2014 It's been three months since the government first sold off Royal Mail shares, and there's another "dog bites man" story going around this morning as Labour's Chuka Umunna has yet again attacked the sale as being far too cheap. Umunna has said that "the business secretary's dismissal of the sharp rise in share price as [...]
Regulator imposes surprise Heathrow price cap January 10, 2014 The operator of Heathrow airport is set to clash with regulators after the Civil Aviation Authority (CAA) said user charges for airlines will be capped at 1.5 per cent below RPI inflation. Dame Deidre Hutton, CAA chairwoman, said the price cap was "good news for air passengers. They will see prices fall, whilst still being [...]
Banks pay further £77m to small businesses for swaps mis-selling January 10, 2014 According to the Financial Conduct Authority (FCA), the UK's four largest banks have upped the pace of payouts to small businesses mis-sold interest rate hedging products. 1,040 firms had been paid a total of £158.6m in compensation from Lloyds, RBS, Barclays and HSBC by the end of December. In November a total of £81.2m was [...]
What you need to know before the open – 10/01 January 10, 2014 We've got the much-awaited US non-farm payroll report later today, and European markets are expected to open higher this morning. US markets saw no real change overnight. An earlier sell-off saw investors hedging their bets in anticipation of today's data. Morning all. #FTSE called 25 higher this morning. not a lot else hapening as [...]