Is narrowing US trade deficit all good news? January 7, 2014 The US trade deficit shrank unexpectedly in November, falling to a four-year low of $34.3bn from $39.3bn. This, says Capital Economics' Paul Ashworth, suggests that fourth-quarter GDP growth could turn out to be above three per cent annualised. Exports saw an increase of 0.9 per cent, with imports falling 1.4 per cent. Around two-thirds of [...]
Germany’s paradox: How €100bn meant more renewables yet more carbon emissions January 7, 2014 The share of German electricity generated by coal has soared to its highest levels since 1990. Figures published on Tuesday, showed that brown coal (lignite) and bituminous coal together accounted for 45.5 per cent of Germany's energy production in 2013. This was up from 44 per cent the previous year. Despite billions of pounds in [...]
Intel says no to conflict minerals in chips January 7, 2014 Intel's announced something of a milestone when it comes to its manufacturing: from this year, it's making and shipping "conflict-free" microprocessors. The chip maker has made a "rigorous effort" to ensure its sources of specific metals – tin, tantalum, tungsten and gold – aren't funding human rights abuses, particularly in the Democratic Republic of Congo. [...]
Watchdog: We were right to back Paul Flowers January 7, 2014 The man who gave the green light to the appointment disgraced former Co-op chairman Reverend Paul Flowers yesterday said he “stands by” his decision. Clive Adamson told MPs it was clear Flowers had no banking experience – but that he needed a big personality to whip the bank’s “large and unruly board” into shape. The [...]
Nintendo, Sony and Microsoft to re-enter China’s £8.4bn gaming market January 7, 2014 China has ended its 14 year ban on foreign-made games consoles which has blocked Sony, Microsoft and Nintendo from selling devices to the country’s 1.3bn citizens. While PlayStations and Xboxes have long been available in China illegally, PC gaming is the only legitimate form of gaming and has flourished due to the popularity of online [...]
UK becomes world number two for 4G sign-up rate January 7, 2014 Mobile operator EE announced on Tuesday it had reached 2m 4G customers. The announcement comes only 14 months after the company launched the UK's first superfast broadband service. EE has witnessed a dramatic growth in customers clamouring to sign up to the 4G service. The first million customers signed up in 10 months and the [...]
Eurozone inflation slows to 0.8pc in December January 7, 2014 Inflation in the Eurozone was down to 0.8 per cent in December from a year earlier, below expectations of 0.9 per cent. Core prices came in at 0.7 per cent year-on-year, the lowest on record. The flash estimate comes ahead of the European Central Bank's meeting on Thursday, which has a target of two per [...]
The race that Android is set to win against Apple January 7, 2014 The number of devices shipped using Google's Android operating system will reach over a billion in 2014, according to research group Gartner. The number of Android users is set soar by 26 per cent to 1.1bn over the course of the year. Gartner forecasts that the strongest demand for devices will come from emerging markets. [...]
Bumper UK car sales at pre-crisis levels January 7, 2014 The end of 2013 marked a stellar year for the car industry, as car sales jumped 23.8 per cent year-on-year in December. Growing consumer confidence and cheap credit saw 2013's car sales zoom to pre-recession levels, recording the best performance in five years, after 22 successive increases. Car registrations hit 2.26m last year, up 10.8 [...]
German unemployment falls by 15,000 January 7, 2014 Good news for Germany as unemployment fell for the first time in five months in December – by 15,000. The jobless rate stayed steady at 6.9 per cent. Expectations were for no fall from November's figure of 10,000. Christian Schulz of Berenberg: Strong labour market data raises the chances of stronger wage growth in 2014 [...]