Euro rises as Standard & Poor’s affirm Slovenia rating of A- with stable outlook July 26, 2013 Standard & Poor’s has affirmed Slovenia’s rating at A- with a stable outlook. The euro reacted positively. S&P affirms Slovenia at A-/A-2; outlook stable. EUR likes – moves up about 15 pips straight away — Yogesh Chandarana (@Yogi_Chan) July 26, 2013 S&P said that the country's strengths are being balanced out by a sharply increasing [...]
We won’t find out who the next Fed chairman is until the autumn July 26, 2013 The White House has said that US president Barack Obama is not expected to name a new Federal Reserve chairman until the Autumn, lowering expectations of an imminent announcement. The news was reported by the Associated Press, citing a senior White House official speaking on the condition of anonymity. Among the leading candidates are former [...]
IMF says balance of risks to US economy tilted to the downside July 26, 2013 The International Monetary Fund (IMF) has warned that the fiscal deficit reduction in the US this year is “excessively rapid” and that the Federal Reserve must be very careful when tapering down its quantitative easing programme (release). In its conclusion of the Article IV consultation, the IMF said that the US recovery has remained “tepid” [...]
Chinese police detail further GlaxoSmithKline’s alleged crimes July 26, 2013 Chinese police have released more details of GlaxoSmithKline’s (GSK) alleged bribery crimes in China, saying that sales agents were trained to build relationships with doctors by offering money and “catering to their pleasures”. Citing sources in the police force, China's official news agency Xinhua reports that bribes of ten to 20 yuan were offered each [...]
Former IMF head to be tried for pimping and could face ten years in prison July 26, 2013 The former head of the International Monetary Fund Dominique Strauss-Kahn will be tried on charges of “aggravated pimping”, prosecutors in Lille have said, following an investigation ongoing since 2012 into sex parties he attended. The former IMF head says he did attend sex parties in the Carlton Hotel in Lille, France, but that he was [...]
IMF thinks the dollar is overvalued by as much as 10 per cent July 26, 2013 The IMF has said that it considers the dollar is mildly overvalued by as much as 10 per cent more than its fundamentals suggest. The organisation said that it expects US growth of 1.7 per cent in 2013, and 2.7 per cent in 2014. Risks to the US economic outlook are said to be modestly [...]
US consumer confidence sees surprise jump July 26, 2013 US consumer confidence has risen to 85.1 in July from 84.1 last month, according to figures from se the University of Michigan consumer sentiment index. Economists had forecast a slight drop to 84.0. Earlier this month a flash estimate saw consumer confidence fall from 84.1 to 83.9, despite economists predicting an increase to 85.0.
Treasury veteran Sir Jon Cunliffe named Bank of England deputy governor July 26, 2013 Sir Jon Cunliffe has been appointed deputy governor of the Bank of England for Financial Stability. Cunliffe, 60, will replace Paul Tucker who is leaving in the Autumn to become a Harvard academic. Cunliffe has been the UK’s permanent representative to the EU since January 2012, covering policy issues like negotiations on the banking union [...]
Outgoing Bank of England’s Paul Tucker will become Harvard academic July 26, 2013 The Bank of England has announced the appointment of its deputy governor for Financial Stability and MPC member Paul Tucker as a senior fellow at Harvard Kennedy School and Harvard Business School (release). As a Senior Fellow, Mr Tucker will work with faculty and students, both inside and outside the classroom, to help advance research [...]
Are we now more physically active? Social desirability bias may explain more than the Olympics July 26, 2013 Surveys can be deceiving – and that's largely because of how we answer them. There may be more to the latest BBC/ComRes poll on the legacy of the Olympic games than meets the eye. While 11 per cent of respondents said they are now more physical active as a result of the games, can we [...]