House price growth slows in September October 3, 2013 House prices grew by 0.3 per cent in September, down from 0.4 per cent growth in the month before. That's according to new Halifax House Prices data, which analysts had expected to show 0.4 per cent growth this month. Prices are currently down 14.5 per cent from their peak level seen in August 2010, with [...]
What you need to know before the open – 03/10 October 3, 2013 European markets are set to open mixed, with the FTSE slightly up. Things have calmed somewhat in Italy after Berlusconi climbed down, agreeing to support Enrico Letta. The dollar remains down as eyes are still on the US, with concessions failing to be forthcoming in budget talks and markets bracing for ongoing shutdown. ETX Capital [...]
Infamous online marketplace Silk Road seized by FBI and arrest of alleged owner Ulbricht October 2, 2013 The darknet site Silk Road has been taken down by law enforcement. The site gained notoreity as a portal through which to purchase illegal goods, using the cryptocurrency Bitcoin. FBI estimates suggest that the site has generated revenues totalling over 9.5m Bitcoins, and collected commissions from sales totalling over 600,000 Bitcoins. That equates to around [...]
EU aviation emission back-down after dispute October 2, 2013 As first reported by Reuters, Britain, France and Germany are prepared to dilute the EU's position on aviation emissions in order to attempt to strike a global deal following threats from some regions of a trade way after the EU put in place restrictions of its own, said sources close to UN talks currently taking [...]
Bulgaria to seek €360m loan from German banks October 2, 2013 Bulgaria's government said today that it will be seeking a loan of up to €360m from German banks to finance its budget shortfall this year. In a statement, the government said: The realisation of additional external financing of up to €360m (£300.3m) through placing debt under German legislation will lead to diversification of debt sources for financing and [...]
UK to test white space technology October 2, 2013 Ofcom has announced that the UK is to be one of the first countries in the world to test white space technology. 20 public and private organisations will be participating in Ofcom's pilot program in the next six months. White spaces are the gaps in the frequency band used to broadcast digital terrestrial TV. Ofcom [...]
Letta wins confidence vote by a landslide October 2, 2013 Prime minister Letta has won the vote of confidence in the Italian Senate. Silvio Berlusconi who earlier this week ordered his PDL party to withdraw from the coalition government, resulting in five ministers leaving the government, backed down and supported the prime minister. Mr Berlusconi said "we have decided, not without some internal strife, to [...]
Potential delay on retina display for new iPad Mini October 2, 2013 A new version of Apple's iPad Mini with a high-resolution "retina" display will not be rolled out this month, reports Reuters. This puts the tablet at a disadvantage compared to rival products from Google's Nexus 7 and Amazon's Kindle Fire HDX. Sources said that Apple's supply chain is only now preparing to make retina diaplays [...]
Euro trades above $1.36 as ECB’s Draghi suggests monetary policy will stay loose October 2, 2013 European Central Bank president Mario Draghi has said that the central bank stands "ready to use all available instruments, including an LTRO". That's a heads up that monetary policy will stay loose (in addition to his usual "monetary policy will remain accommodative" spiel). Draghi's assessment of inflation risks saw no change – he said they [...]
Private sector US job data misses estimates – and markets have little else to go on October 2, 2013 While the US government is in shutdown, we're not likely to get labour market estimates from the public sector statisticians – and when they do come they may be rushed, and face revisions afterwards. So for now markets are making do with private sector data releases, and the ADP number just missed estimates. Expected to [...]