US Airways shares take a tumble as US Justice Department says no to merger August 13, 2013 Source: Yahoo The US Justice Department has filed a lawsuit to challenge the merger between US Airways and American Airlines on the grounds it would violate US antitrust law and lead to less competition in the industry. The Justice Department said a merger would remove the inventive for US Airways to offer lower prices and [...]
Government gloats of Help to Buy success as bubble expands August 13, 2013 Since the launch of the Help to Buy equity loan scheme in April, there have been 10,000 reservations for new build homes: evidence, the government has said, that the scheme is working (release). Earlier today, communities and local government secretary Eric Pickles said: This government’s package of measures to boost the housing market is working, [...]
Jaguar Land Rover to recall nearly 12,000 cars in one of its biggest markets August 13, 2013 Jaguar Land Rover, a unit of Tata Motors, will recall 11,852 vehicles in China over possible engine and oil leakage problems, the country’s industry watchdog has said. The General Administration of Quality Supervision, Inspection and Quarantine(AQSIQ) has said that Jaguar Land Rover would recall 8,656 Land Rover Freelander 2 and Range Rover Auroras and 3,169 [...]
Price of US imports grows faster than exports in July August 13, 2013 The rate of increase in the price of imported goods to the US accelerated in the year to July, with the import price index hitting 1.0 per cent. This was up from the 0.2 per cent the month before but missed expectations of a 1.5 per cent increase. Meanwhile, the rate of price increases in [...]
US auto sales drag on sales growth August 13, 2013 US retail sales increased by a weaker-than-expected 0.2 per cent in July to $435.5bn, following an upwardly revised 0.6 per cent increase the month before and predictions of a 0.3 per cent rise. This was the fourth consecutive month of growth, and resulted in the dollar rising against other major currencies. Taper on? UST 10Y [...]
LG calls off promotional events after twenty are injured in Seoul August 13, 2013 LG has cancelled a series of events promoting its new G2 mobile phone handset after twenty people were injured in Seoul. The Korean electronics company released 100 helium balloons in Seoul, each with a voucher for a free smartphone attached. However, the situation quickly degenerated into violence as people arrived with BB guns and knives [...]
Bizarre bequest results in funding boost for coalition August 13, 2013 Eyebrows were raised this morning when it was revealed that the top individual donor to political parties in the second quarter of the year was one "Ms Joan L B Edwards" who gave the Conservatives £420,576 and the Lib Dems £99,423. Ms Edwards has not shown any particular interest in politics in the past so [...]
Eurozone industrial production beat in June adds to positive data August 13, 2013 Eurozone industrial production rose by an annual rate of 0.3 per cent in June, beating the previous month’s 0.2 per cent rise and analyst expectations of a 0.1 per cent increase. Compared to May 2013, industrial production rose by 0.7 per cent – a vast improvement on the previous month’s revised 0.2 per cent contraction, [...]
Euro spikes and German shares rally as Eurozone investor confidence jumps August 13, 2013 Economic sentiment in the Eurozone increased by more than expected in July, according to the latest survey by the Zentrum für Europäische Wirtschaftsforschung (ZEW). The institute’s measure of short-term investor confidence came in at 44.0 for the month, up from 32.8 in June. Analysts had expected to see an increase to 37.4. The ZEW also [...]
UK inflation slowed in July indicating support for Bank of England target August 13, 2013 Inflation in the UK slowed in July, indicating that the Bank of England may find support for a rate hike in the future. The UK consumer price index (CPI) decelerated to an annual rate of 2.8 per cent in July, slightly down from 2.9 per cent the month before and in line with expectations. The [...]