Chicago activity index stronger but revisions disappoint September 23, 2013 One of the better predictors of the US economy's fortunes has come in strong. The Chicago Fed national activity index is designed to gauge economic activity in the surrounding area. It rose from -0.43 (revised from -0.15) to 0.14 in August. So a nice number, much higher than expectations of a rise to 0.05, but [...]
Apple announces nine million iPhones sold in first week September 23, 2013 Apple has announced that it has sold nine million new iPhones since their Friday release (release). Apple also say that 200m users are now running the latest iteration of Apple's mobile operating system – iOS 7. “This is our best iPhone launch yet―more than nine million new iPhones sold―a new record for first weekend sales,” [...]
Labour willing to drop HS2 before 2015 September 23, 2013 Labour is considering dropping support for the High Speed 2 railway before the 2015 general election, City A.M. understands. Ed Balls used his speech to the Labour conference in Brighton to question whether HS2 – which would link London to the midlands and the north – was the best way of spending £50bn on transport [...]
The German election and potential market reactions September 23, 2013 With Angela Merkel in the midst of forming a coalition, it looks like most Germans will get a preferable result, as opinion polls show most are in favour of a grand coalition. Whilst Merkel's CDU/CSU 41.5 per cent win will likely see her remain chancellor and vindicates her policy stances so far, the victory [...]
Balls’ calls for higher bank levies could see finance flee September 23, 2013 Shadow chancellor Ed Balls has proposed a bank levy hike in order to raise an extra £800m per year. That money would be put towards funding free childcare. What Balls fails to tackle is the impact that ever higher levies will have on our financial services. Higher bank levies threaten to see the outlook for [...]
Government blocks sale of Jane Austen ring to Kelly Clarkson September 23, 2013 The sale of a ring belonging to Jane Austen has been thwarted by culture minister Ed Vaizey. After US singer Kelly Clarkson won the piece at auction, she was forbidden from allowing it to leave the country. Now the Jane Austen's House Museum has raised the sum Kelly Clarkson paid for the item, and the [...]
Analysts see Societe Generale returning to strength September 23, 2013 The outlook for troubled French bank Societe Generale has improved significantly, according to analysts at Nomura with the bank outperforming the sector by 50 per cent. The bank has more than doubled from the doldrums of 2012. Confidence in the earnings outlook has improved and the sector's equity risk premium has declined according to Nomura's [...]
Record week for equity funds as inflows hit £16.2bn September 23, 2013 Last week saw a record breaking £16.2bn flow into into equity funds. Funds in developed markets experienced the bulk of the inflow posting £15.4bn while funds in developing nations saw an inflow of £1bn, according to data from EPFR Global. The inflows were the largest ever recorded in the EPFR data set. The move into [...]
Post-secondary vocational courses aren’t meeting demand September 23, 2013 Vocational post-secondary courses are not meeting potential demand, says report reviewing vocational education training and England. (Release) The report, published by the international Organisation for Economic Co-operation and Development (OECD), says that vocational provision in England at post-secondary level is low in comparison with many other countries. Moreover, employer engagement in the development of qualifications [...]
Hands on with Tesco’s £119 Hudl tablet September 23, 2013 (City A.M./Oliver Smith) Here's Tesco's new Hudl tablet, avaible from Monday in the four colours you see above. (black, blue, red and purple). Analysts had been predicting a £99 price tag, so it's a little steeper than we'd thought at £119. For those participating in Tesco's loyalty scheme – Clubcard Boost – some customers will [...]