Second quarter GDP confirmed – but revisions see annual growth lower September 26, 2013 UK GDP revisions see growth unchanged at 0.7 per cent in the second quarter, inline with analyst estimates which expected no change from the preliminary reading. Revisions have seen GDP to the second quarter drop from 1.5 per cent to 1.3 per cent however. Growth in the first quarter has been revised up from 0.3 [...]
Mixed bag as travel companies release expectations for year September 26, 2013 Whilst Thomas Cook books fewer holidays for the UK, and anticipates political disruption to travel, Tui Travel sees 11 per cent growth and plenty of winter bookings. Travel agent Thomas Cook has seen UK holiday bookings down three per cent on last year, with a capacity reduction of 2.5 per cent. (Release) Summer trading has [...]
LSE sees equity trading rise by five per cent as derivatives drop September 26, 2013 The London Stock Exchange (LSE) has reported UK Equity value trading up five per cent in the five months ending 31st August 2013, as compared to the same period last year (release). Derivatives trading was dramatically down by 31 per cent from last year. Equity capital raised amounted to to £9.3bn with a total [...]
Italian retail sales decline continues – and it’s worse than expected September 26, 2013 Italian retail sales are weak for July, down 0.3 per cent in one month. Analysts had been expecting a contraction of just 0.1 per cent after a 0.2 per cent fall in the month before. Food goods sales fell by 0.1 per cent, with non food goods dropping by 0.3 per cent. Italian retail sales [...]
US government shutdown could cause tapering confusion September 26, 2013 US Federal Reserve calculations over the beginning of tapering – a scaling back of its asset purchases program – could be hampered by fiscal squabbles over the Federal debt ceiling. Fed chairman Ben Bernanke has already referred to the lack of clarity as a hindrance on monetary policy decisions: The extent of restrictive fiscal policies [...]
Ladbrokes shares slump on profit warning September 26, 2013 Betting shop owner Ladbrokes has announced an expected fall for operating profits for their online business in 2013 below current market expectations with a range of £10m to £14m. (Release) Ladbrokes shares fell nine per cent following the announcement. In its interim management statement, the gaming company says that the second half of 2013 has, [...]
Fed’s Lacker warns that forward guidance on rates may depress growth September 26, 2013 The Federal Reserve's Jeffrey Lacker has said that forward guidance may threaten economic growth – as central banks assure markets that rates will stay low, this may itself dampen expectations of future growth. In practice, he says that separating forward guidance on rates from asset purchases has proven difficult. Credibility requires consistency, over time, between [...]
Asda apologises for offensive mental patient Halloween costume September 26, 2013 Supermarket giant Asda has been forced to apologise after selling a "mental patient fancy dress" Halloween costume online. The costume, which included clothing, mock blood, a mask and imitation meat cleaver, has been withdrawn, following horrified reactions on Twitter. We removed the product from our website this afternoon but unfortunately the page may remain visible [...]
Before the Open: Politics continue to mute markets September 26, 2013 US and European markets are expected to open lower again today after political squabbling in the US over raising the debt ceiling. Global markets are suffering from risk-off. US equities saw their 5th straight loss overnight with risk currencies once again following. — RMB Global Markets (@RMB_GM) September 26, 2013 Asian markets closed lower, [...]
Fly away to the fantastical mountains of St Lucia September 26, 2013 There’s a lot of local charm beyond the idyllic beaches, azure waters and postcard sunsets, says Oliver Pickup WHAT connects Superman, Amy Winehouse, Oprah Winfrey, Blackbeard and Napoléon Bonaparte? No, it’s not my ultimate dinner party guest list – although that would be some karaoke line up. The link is that they have all been [...]