Analyst picks July 22, 2013 DailyFX CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long Aussie dollar-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks I maintain my bullish call on Aussie dollar-yen, despite no landslide victory in the Japanese election. But now that fiscal authorities don’t have carte blanche, the impetus to [...]
Institute of Directors criticises government for failing to expand EU single market July 22, 2013 The Institute of Directors (IoD) has commented on today’s government audit on the balance of competences between the UK and the EU, covering areas including taxation, foreign policy and health. Simon Walker, director general of the IoD, said: The Government has a golden opportunity to urge extending the Single Market to services. The biggest failing [...]
Goldman cuts US growth forecast AGAIN – it’s now less than half what it was two weeks ago July 22, 2013 Goldman Sachs has cut its second quarter US GDP estimate again after home sales fell in June for the first time this year. The bank now forecasts 0.7 per cent growth in the second quarter, revised down from 0.8 per cent. This is the fourth revision to US output estimates in less than two weeks, [...]
Telefonica confirms it is in talks over major German telecoms merger July 22, 2013 Telefonica Deutschland has confirmed it is in talks with Dutch telecoms company KPN to purchase German mobile operator E-Plus, although transactions are still being negotiated, according to a reporter for the Financial Times. BN 07/22 16:17 *TELEFÓNICA DEUTSCHLAND CONFIRMS TALKS POSSIBLE PURCHASE E-PLUS — Anousha (@anoushasakoui) July 22, 2013 Telefonica had already said it was [...]
Why silver will underperform next to gold over the next two years July 22, 2013 Despite the recent price spike of both gold and silver, silver will continue to underperform gold given its greater susceptibility to industrial volatility and reduced household demand, according to a note from Capital Economics. This goes against what a number of other analysts have been arguing. The price of silver was up over five per [...]
Former bank of England governor introduced to Lords as Baron King of Lothbury July 22, 2013 Former governor of the Bank of England Sir Mervyn King was introduced to the House of Lords today as a non-party political peer under the title Baron King of Lothbury. Sir Mervyn King goes into the phone box and comes out Lord King, arriving today at the House of Lords: pic.twitter.com/pKfxh8NPN0 — Sam Coates Times [...]
UK government: EU membership in our interest but other diplomatic avenues should be explored July 22, 2013 A UK government audit of EU powers in the realm of foreign policy has argued it is strongly in the country’s interest to retain membership of the union. The key benefits cited included: Increased impact from acting in concert with 27 other countries; greater influence with non-EU powers, derived from our position as a leading [...]
Typical US house prices up 13.5 per cent from a year ago to £140,000 July 22, 2013 Some ugly numbers in the form of existing US home sales for June. Rather than rising from 5.18m to 5.26m, they've dropped to 5.08m. And last month's 5.18m figure has been revised down to 5.14m. That puts the monthly change at -1.2 per cent, rather than the 0.5 per cent improvement forecast. Total inventory has [...]
UK supportive of EU taxation policies but warns against further encroachment on sovereignty July 22, 2013 An audit of the effects of the UK’s EU membership on taxation carried out by the government has found broad support for current tax policies, but reported that these views would be subject to change if the EU attempts to encroach further on the country’s sovereignty. The government consulted Parliament and its committees, businesses, and [...]
Business group warns that tighter listing rules won’t prevent future problems July 22, 2013 As Bumi shares have resumed trading today after three months of suspension, the Institute of Directors has warned that to tighten up listing rules would be a mistake, and unlikely to prevent another Bumi saga. Dr. Roger Barker, director of Corporate Governance and Professional Standards at the Institute of Directors: The fact that companies like [...]