Why a smart meter might help cut your bills October 1, 2013 Smart energy meters are expected to change the way consumers manage their energy use. Currently optional, but due to be rolled out nationally from autumn 2015, the devices provide live, detailed data on costs. “These developments are set to revolutionise energy usage,” says Stephen Passmore of the Energy Saving Trust. While the meters themselves do [...]
You can probably be replaced by a robot – and that’s really good news October 1, 2013 A new paper suggests that more jobs could eventually be done by robots that we previously thought. Not just simple tasks either. As many as 47 per cent of positions currently filled by humans could be done by a computerised workforce "over some unspecified number of years, perhaps a decade or two." Most likely to [...]
Virgin annual report for Vatican bank October 1, 2013 The Vatican's bank has published its first-ever annual report today, showing earnings in 2012 were €86.6m (£72.3m) – four times higher than in 2011. The report comes as the bank, which was founded in 1942, tries to distance itself from a rather murky past – in a bid to become more transparent, as part of Pope Francis' reform [...]
Candy Crush saga claims London victim as King opts for New York float October 1, 2013 Powerscourt, the ambitious financial public relations group founded by ex-Goldman Sachs spin doctor Rory Godson, has become the first casualty of the decision by King, the UK-based mobile gaming company, to list in New York rather than London. King, best known for its hit game Candy Crush Saga, has hired Brunswick, to handle its upcoming [...]
European markets remain calm in wake of US gridlock October 1, 2013 As the US approaches the pivotal date of October 17 when the debt ceiling needs to be passed, pressure is mounting on politicians to reach an agreement. Ishaq Siddiqi, market strategist at ETX capital writes: At the moment, financial markets are attempting to work out what sort of agreement this could be? We know a [...]
Fitch says gold price rebound unlikely while fall to $1,000/oz may hit miner ratings October 1, 2013 Gold prices are unlikely to rebound according to ratings agency Fitch (release). That comes after a large sell off in precious metals today. The anticipated unwinding of US quantitative easing and expectations of improving but unspectacular economic growth leave little room for a rebound in gold prices over the next few years, while a further [...]
US manufacturing outlook beats expectations in September October 1, 2013 New figures showing that US manufacturing sector is performing better than expected in September. The ISM manufacturing purchasing managers' index (PMI) is in higher, at 56.2 from 55.7. Analysts had expected a drop to 55. Subcomponents also better. Prices paid rise to 56.5 from 54 (55 expected) and jobs at 55.4 from 53.3. That conflicts [...]
Productivity estimates for education highest in 2011 says ONS October 1, 2013 (Office for National Statistics) Figures published this afternoon suggest annual productivity in education has grown, reaching its highest yet in 2011 – the last year looked at. (Release) The study, which looks at publiuc service productivity growth in publicly-funded education measures productivity growth by comparing growth in the total amount of education output (teachers, services [...]
US manufacturing growth sinks to three month low October 1, 2013 The US manufacturing sector is still expanding according to new private sector data. Markit's purchasing managers' index (PMI) has stayed at 52.8 in September from a flash estimate, implying that the sector is expanding (any number above 50 suggests growth). Analysts had been expecting a rise to 53.1, so this is a little disappointing, and [...]
Standard & Poor’s warns against prolonged US government shutdown October 1, 2013 Standard & Poor's has set out its analysis of the consequences of the US government shutdown and the implications for the credit rating of the US. In our opinion, the current impasse over the continuing resolution and the debt ceiling creates an atmosphere of uncertainty that could affect confidence, investment, and hiring in the U.S. [...]