Chicago area employment outlook best since October 2011 November 27, 2013 Regional business conditions in the US remain optimistic as the Chicago purchasing managers' index came in at 63.0 for November, a drop from October's 65.9, but above expectations of 60.0. The index's employment component came in at its highest since October 2011.
OECD urges massive deregulation of Greek economy November 27, 2013 The Organisation for Economic Co-operation and Development (OECD) has called for Greece to abolish a slew of outdated regulations which are holding back growth. The OECD recommends that 550 regulations with regard to retail, tourism and the food processing industry among others, should be scrapped. The industries identified as being in need of deregulation could [...]
Goldman’s longest serving employee Alfred Feld dies at 98 November 27, 2013 Goldman Sachs employee Alfred Feld passed away last night, according to the investment bank. Feld had worked for the Wall Street institution for 80 years. Feld began with the bank in 1933 as a messenger in mail operations. Five days later he was promoted to office boy, and would eventually work in private wealth-management. He [...]
Demand for US durable goods slides in October November 27, 2013 Demand for US durable goods fell 2.0 per cent in October, with new orders decreasing $4.6bn (£2.8bn). Analysts has expected a 1.9 per cent drop, and the slide followed September's 3.8 per cent rise (revised from 3.7 per cent). Excluding transport, the drop was just 0.1 per cent. The decline was led by a slowdown [...]
One US indicator suggests that economic growth is lower in October November 27, 2013 The Chicago Fed National Activity Index (CFNAI) dropped from 0.18 (revised up from 0.14) to minus 0.18 in October. The Chicago Fed said that the decline resulted from fall in employment and production related indicators. The index is a weighting of 85 different indicators of US economic activity. Employment-related indicators were responsible for -0.05 of [...]
US jobless claims fall by 10,000 in one week November 27, 2013 US jobless claims dropped by a seasonally adjusted 10,000 from 326,000 (revised from 323,000) to 316,000 in the week to 22 November. Analysts had expected claims to rise to 330,000. Continuing claims dropped from 2.876m to 2.776m. The 4-week moving average was 331,750, a decrease of 7,500 from the previous week's revised average of 339,250. [...]
RBS sells WorldPay to Bain Capital November 27, 2013 The Royal Bank of Scotland (RBS) has sold its 20 per cent stake in WorldPay to private equity firms Bain Capital and Advent International. RBS said it expected to record a £160m profit from the sale of the payment processing company in its 2013 results. RBS sold the the majority of its stake in WorldPay [...]
EU antitrust regulators clear Monte Paschi restructuring November 27, 2013 European Union antitrust regulators have given the the go ahead for a planned restructuring by Italian lender, Banca Monte dei Paschi di Siena (MPS). The European Commission concluded that the bailout granted for the restructuring of the bank was compatible with state aid rules. In December 2012 MPS received a capital injection of €3.9bn (£2.4bn) [...]
US mortgage applications drop for fourth week in a row November 27, 2013 The number of mortgage applications in the US fell again this week. The Mortgage Bankers Association (MBA) index fell 0.3 per cent to 449.6, versus last week's 2.8 per cent fall to 451.1. The MBA's seasonally adjusted index of mortgage application activity includes both refinancing and home purchase demand. Today's numbers present a slightly [...]
Politcians call on Peugeot CEO told to renounce pension November 27, 2013 Peugeot's outgoing chief executive officer (CEO), Philippe Varin (pictured), has faced calls to renounce part of his £258,000 pension. Mr Varin is set to receive the compensation when he steps down in January 2014. The leader of the Union of Democrats and Independents, Jean-Louis Borloo, said the compensation to be awarded was excessive. He said [...]