IMF’s Lagarde calls on US to end budget squabbles October 3, 2013 The International Monetary Fund's (IMF) Christine Lagarde has told politicians to act quickly in order to end a shutdown of the Federal government, as the government comes close to passing its debt ceiling on 17 October. Lagarde has said that the shutdown and failure to raise the ceiling could "very seriously hurt" both the US [...]
US non-manufacturing growth has slowed down in September October 3, 2013 US watchers have just seen a disappointing new datapoint. The ISM non-manufacturing purchasing managers' index (PMI) is much lower than expected – at 54.4 in September. The weakest since May. Last month it was 58.6, and analysts had been anticipating a fall – but not one this big. They were forecasting a drop to 57.4. [...]
Unanimous approval on French “anti-Amazon” bill October 3, 2013 A unanimous decision has been taken by French lawmakers to approve a bill designed to safeguard small bookstores against powerful online competitors. The bill will restrict retailers like Amazon from combining offers of up to five per cent discounts with free deliveries. It was was proposed by the opposition party UMP, but had all-round support, [...]
More businesses in the UK than ever before October 3, 2013 New data reveals that the number of businesses in the UK is now higher than ever before. Increasing by 0.9 per cent between March 2012 and 2013, the total number of businesses has passed its 2008 high. These figures come from new estimates by the Office for National Statistics (ONS). The data for the ONS' [...]
US jobless claims now at pre-recession levels October 3, 2013 US initial jobless claims at just 308,000 this week from 307,000 (revised from 305,000). A small rise, but short of the 313,000 expected. Continuing jobless claims rose from 2.821m (revised from 2.823m) to 2.925m. Analysts had been forecasting a drop to 2.81m. Good news on the labor market: Initial claims at 308k, below expectations. Confirming [...]
Warren Buffet rates Breaking Bad A+ October 3, 2013 Investment sage Warren Buffett has rated the finale of television show Breaking Bad as A+, reports CNBC. He said that it's the best written thing he's ever seen. The guru and holder of the fourth spot on the Forbes Rich List is a well known fan of the show, created by Vince Gilligan. He's previously [...]
Citi upgrades Blackberry despite uncertainty over Fairfax buyout and declining market share October 3, 2013 Someone out there is still optimistic about Blackberry – just not about the takeover planned by Fairfax Financial Holdings. Citi analyst Jim Suva has raised his price target for Blackberry stock to $9, and the rating of the tech company is now "neutral" from "sell". That same analyst has cut his net loss estimate for [...]
FCA compensation for victims of 2008 deposit failures October 3, 2013 Large unincorporated associations may be eligible for compensation following 2008 deposit failures from the Financial Conduct Authority (FCA). Groups such as charities, clubs or societies, that were not given assistance following the collapse of Kaupthing Singer and Friedlander Bank and Landsbanki Island in 2008, could now get payoffs from the regulator. Up to £50,000 may [...]
Vodafone finance chief to leave as Verizon deal completes October 3, 2013 Andy Halford, the group chief financial officer (CFO) of telecoms giant Vodafone has announced that after nine years on the job he'll be leaving at the end of March 2014. Halford said that it "has been a privilege to work for one of the greatest businesses of our era for almost half of its life" [...]
“Sell” rating for Alcoa as aluminium prices fall October 3, 2013 Deutsche Bank has downgraded its rating on Alcoa's stock from "hold" to "sell", citing lower aluminium prices over the last two quarters as the reason for doing so. Thing aren't boding too well for the world's third largest producer of aluminium, which has 40 per cent of its revenue accounted for by primary metals business. [...]