Without major reforms French growth will continue to fall short says Capital Economics November 18, 2013 Without major reforms the French economy will continue to fall short of consensus forecasts, according to Capital Economics. The French economy contracted by 0.1 per cent in the third quarter, with exports and investment both falling. While French firms debt to relative to equity and financial assets is lower than the Eurozone average but the [...]
Siemens to supply wind turbines for Dong’s biggest ever investment November 18, 2013 Siemens has secured a multi-million euro deal from Danish Dong Energy, which will see its wind turbine manufacturing subsidiary, Siemens Wind Power, install 97 turbines in Dong's new North Sea wind farms, Gode Wind 1 and 2. The deal is for the largest turbine models ever installed – Siemens' new six megawatt turbines have a [...]
US markets rip higher on open – Dow hits record high of 16,000 November 18, 2013 US equities are soaring on open, with the Dow hitting 16,000 (a record high) and the S&P 500 reaching 1,800. That follows record highs for Germany's Dax and world shares reaching their highest levels since January 2008.
US total net TIC flows drop to $-106.8bn in September November 18, 2013 Net long-term TIC flows in the US for September stood at $25.5bn in September, exceeding expectations of $21.3bn, and following August's fall to $-9.8bn (revised from $-8.9bn). Total net flows, however, declined in the month to $-106.8bn, from $-13.8bn in August. 'TIC' stands for Treasury International Capital, which is used as an indicator to track [...]
Too many European banks surviving says chief regulator November 18, 2013 Too many European banks have survived over the past few years and more should have been wound down, according to a top European banking regulator. The chairman of the European Banking Authority (EBA), Andrea Enria, in an interview on Monday with Allgemeine Zeitung, said: I am convinced that too few banks in Europe have been [...]
Eurozone trade picture remains weak despite surplus widening in September November 18, 2013 The seasonally-adjusted Eurozone trade surplus widened in September from €12.3bn (£10.3bn) to €14.3bn (£11.99bn), extending a near two-year long surplus. However, Jonathan Loynes of Capital Economics says that "weak global demand and the strong euro are holding back exports," and IHS Global Insight's Howard Archer says that net trade may have dragged down third quarter [...]
Shootings in Paris leave man in critical condition November 18, 2013 A gunman has opened fire at La Defense outside the main office of Societe Generale in Paris, according to the French bank's Twitter account. Confirms that one man opened fire in front of the SG towers. No injuries, the police are on site and investigating. — Société Générale (@SocieteGenerale) November 18, 2013 This follows [...]
150,000 sign up to smaller energy firms in wake of price rises November 18, 2013 Since the start of October, 150,000 people have signed up to smaller energy firms, according to the BBC. Radio 4's You & Yours programme asked energy companies how many new customers they had gained and how many they had lost since the beginning of October, when the major energy companies announced price rises. Five out [...]
Germany’s Dax hits new record high as Chinese reforms lift global markets November 18, 2013 Germany's Dax just hit a fresh high of 9228.16, hours after world markets reached their highest levels since Janaury 2008. The positive sentiment in markets comes after the Chinese government announced its Third Plenum reforms. Ishaq Siddiqi, market strategist at ETX Capital says that traders have "welcomed reform plans", and are "enthused that the country’s [...]
IFS warns on an independent Scotland’s economic viability November 18, 2013 Without significant fiscal tightening, an independent Scotland would not be overly financially sustainable, says the Institute for Fiscal Studies (IFS). In a report published today, the IFS said that "even under the most optimistic scenario", the country would be left with a £3bn black whole in its public finances – 1.9 per cent of national income. [...]