If you’d taken out a £100 payday loan last month to invest in Bitcoin you’d be up over £330 November 27, 2013 How fast is Bitcoin rising? The hugely volatile market in the digital currency has seen its price rise more than 7500 per cent this year, hitting $1000 today. To really get a grip on how fast that is, compare it with other fast-rising things – how about a payday loan? If you borrowed £100 from [...]
US economic stability strengthens slightly in October November 27, 2013 The CB leading indicator rose 0.2 per cent in October, after analysts expected no increase and following September's 0.9 per cent increase. The indicator is a measure for economic stability.
US consumer confidence improves in November November 27, 2013 Consumer confidence in the US improved in November with the Reuters/Michigan consumer sentiment index at 75.1, from 73.2 in October and after expectations of a marginal rise to 73.5. But today's numbers contrast with a survey yesterday from the Conference Board, which indicated that consumer confidence fell this month.
Bitcoin clears $1,000 barrier – but why is this radical alternative currency worth so much? November 27, 2013 The crytocurrency Bitcoin has just breached the psychologically significant $1,000 level. Many have compared the virtual currency's rise to the tulip bulb mania of the 1600s. It suffered a severe correction in April when it lost more than half of its value in days after climbing to over $220. The unconventional means of exchange has [...]
Chicago area employment outlook best since October 2011 November 27, 2013 Regional business conditions in the US remain optimistic as the Chicago purchasing managers' index came in at 63.0 for November, a drop from October's 65.9, but above expectations of 60.0. The index's employment component came in at its highest since October 2011.
OECD urges massive deregulation of Greek economy November 27, 2013 The Organisation for Economic Co-operation and Development (OECD) has called for Greece to abolish a slew of outdated regulations which are holding back growth. The OECD recommends that 550 regulations with regard to retail, tourism and the food processing industry among others, should be scrapped. The industries identified as being in need of deregulation could [...]
Goldman’s longest serving employee Alfred Feld dies at 98 November 27, 2013 Goldman Sachs employee Alfred Feld passed away last night, according to the investment bank. Feld had worked for the Wall Street institution for 80 years. Feld began with the bank in 1933 as a messenger in mail operations. Five days later he was promoted to office boy, and would eventually work in private wealth-management. He [...]
Demand for US durable goods slides in October November 27, 2013 Demand for US durable goods fell 2.0 per cent in October, with new orders decreasing $4.6bn (£2.8bn). Analysts has expected a 1.9 per cent drop, and the slide followed September's 3.8 per cent rise (revised from 3.7 per cent). Excluding transport, the drop was just 0.1 per cent. The decline was led by a slowdown [...]
One US indicator suggests that economic growth is lower in October November 27, 2013 The Chicago Fed National Activity Index (CFNAI) dropped from 0.18 (revised up from 0.14) to minus 0.18 in October. The Chicago Fed said that the decline resulted from fall in employment and production related indicators. The index is a weighting of 85 different indicators of US economic activity. Employment-related indicators were responsible for -0.05 of [...]
US jobless claims fall by 10,000 in one week November 27, 2013 US jobless claims dropped by a seasonally adjusted 10,000 from 326,000 (revised from 323,000) to 316,000 in the week to 22 November. Analysts had expected claims to rise to 330,000. Continuing claims dropped from 2.876m to 2.776m. The 4-week moving average was 331,750, a decrease of 7,500 from the previous week's revised average of 339,250. [...]