US to overtake Saudi Arabia as number one oil producer by 2016 November 12, 2013 The US will become the world's largest oil producer by 2016, according to a report by the International Energy Agency (IEA). The IEA's world energy outlook report, released on Tuesday, said the rising output from both the US and Brazil is reducing the role of OPEC countries. IEA chief economist, Fatih Birol, speaking to Reuters [...]
UK core inflation drops to a four-year low in October November 12, 2013 The inflation rate fell to 2.2 per cent in the year to October, down from 2.7 per cent last month – its lowest level since 2009. Consensus had been that it would fall to 2.5 per cent. UK core inflation fell to 1.7 per cent year-on-year in October. The other main consumer price indices moved [...]
EDF to raise gas and electricity bills by 3.9 per cent November 12, 2013 EDF Energy announced on Tuesday that it will be hiking the average gas and electricity bill by 3.9 per cent, from 3 January 2014. The price rise is significantly less than rivals such as British gas who announced price rises of 9.2 per cent. The company's statement says the typical consumer will be at least [...]
Bovis Homes snaps up former Balfour Beatty boss November 12, 2013 Bovis Homes has snapped up Ian Tyler, the former boss of Balfour Beatty, as its new chairman to replace Malcolm Harris, who is retiring. Ian Tyler has spent over 20 years involved with the construction industry and is also a non-executive director at BAE Systems as well as chairman of the audit committee at Cable [...]
How to apply technical charts to improve your performance in trading November 11, 2013 TECHNICAL analysis is based on the idea that historical prices can provide insight into future prices. Using technical charts, traders seek to determine the likelihood of the continuation of the current trend, as well as the potential point at which the trend may reverse. While there are countless types of technical charts, most will fall [...]
Italy a ticking timebomb for the fragile Eurozone November 11, 2013 Improvements elsewhere in the periphery contrast with the worryingly slow progress in Rome In parts of the Eurozone periphery, there are signs that struggling economies are finally turning a corner. Spain, for example, has returned to growth – albeit at the slow pace of 0.1 per cent in the third quarter – and Portuguese unemployment [...]
CNBC Comment: FX market probe raises Libor fears November 11, 2013 YOU DON’T have to read one of John Le Carre’s spy novels to believe his maxim that “bankers will always get away with whatever they can get away with”. The latest scandal afflicting the industry is the fast-moving investigation into the $5.3 trillion (£3.3 trillion) FX market: just three months in, it has embroiled 10 [...]
DailyFX: Analyst picks November 11, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short euro-dollar and pending short Aussie-dollar Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks The European Central Bank (ECB) meeting, the third quarter US GDP figure, and the October US non-farm payrolls (NFP), all generated immense volatility in euro and [...]
Twitter stock calms down on day three as IPO excitement wears off November 11, 2013 Twitter opened five per cent down in trading today, with shares below $40 (£25) – that's 20 per cent down from its first-day high of $50.09 (£31.32). At pixel time, shares were down just over one per cent. Shares began trading at $45.10 on Thursday – well above the $26 per share initial public offering [...]
PepsiCo to invest £3.4bn in India November 11, 2013 PepsiCo Inc announced on Monday its intention to invest £3.4bn in India by the year 2020. India is one of PepsiCo's largest markets and the multi billion dollar food and beverage corporation hopes that a rising Indian middle class will provide even greater opportunities for its products, which include Pepsi, Doritos and Tropicana. PepsiCo chairman [...]