New York Report: US trade data pushes S&P to first 2014 gains January 7, 2014 US STOCKS ended higher last night, snapping the S&P 500’s three day losing streak to give the benchmark index its first positive session of 2014. A sharp decline in the US trade deficit and upbeat German data helped improve market sentiment, pointing to strengthening economic fundamentals on both sides of the Atlantic. The S&P healthcare [...]
This analyst suggests there is no “new normal” after all January 7, 2014 The "new normal" is a buzzword that's been doing the rounds for quite a while, but might be a fiction, according to Deutsche Bank US chief economist Joseph LaVorgna. Today LaVorgna has released a note titled "Is the old normal the new "new normal"?" That implies that the idea of a shift to very different [...]
The Fed’s one dissenter has just backed QE reductions January 7, 2014 When the Federal Open Market Committee (FOMC) decided to begin scaling back asset purchases last month, only one voice stood in opposition. Eric Rosengren, Boston Fed president, opposed the $10bn (£6bn) reduction in quantitative easing known as tapering. At the time Fed chairman Ben Bernanke said that further reductions are set to take place throughout [...]
There’s a technology that could reduce hunger, poverty, and save vulnerable habitats. But we’re not allowed to use it January 7, 2014 Agricultural scientists have developed answers to some of the world's biggest problems – but restrictions imposed by the European Union mean that we can't use them. Nobel peace prize winner Norman Borlaug said that "you can't build a peaceful world on empty stomachs and human misery". Genetically modified (GM) crops could be the answer to [...]
Is narrowing US trade deficit all good news? January 7, 2014 The US trade deficit shrank unexpectedly in November, falling to a four-year low of $34.3bn from $39.3bn. This, says Capital Economics' Paul Ashworth, suggests that fourth-quarter GDP growth could turn out to be above three per cent annualised. Exports saw an increase of 0.9 per cent, with imports falling 1.4 per cent. Around two-thirds of [...]
Germany’s paradox: How €100bn meant more renewables yet more carbon emissions January 7, 2014 The share of German electricity generated by coal has soared to its highest levels since 1990. Figures published on Tuesday, showed that brown coal (lignite) and bituminous coal together accounted for 45.5 per cent of Germany's energy production in 2013. This was up from 44 per cent the previous year. Despite billions of pounds in [...]
Intel says no to conflict minerals in chips January 7, 2014 Intel's announced something of a milestone when it comes to its manufacturing: from this year, it's making and shipping "conflict-free" microprocessors. The chip maker has made a "rigorous effort" to ensure its sources of specific metals – tin, tantalum, tungsten and gold – aren't funding human rights abuses, particularly in the Democratic Republic of Congo. [...]
Watchdog: We were right to back Paul Flowers January 7, 2014 The man who gave the green light to the appointment disgraced former Co-op chairman Reverend Paul Flowers yesterday said he “stands by” his decision. Clive Adamson told MPs it was clear Flowers had no banking experience – but that he needed a big personality to whip the bank’s “large and unruly board” into shape. The [...]
Nintendo, Sony and Microsoft to re-enter China’s £8.4bn gaming market January 7, 2014 China has ended its 14 year ban on foreign-made games consoles which has blocked Sony, Microsoft and Nintendo from selling devices to the country’s 1.3bn citizens. While PlayStations and Xboxes have long been available in China illegally, PC gaming is the only legitimate form of gaming and has flourished due to the popularity of online [...]
UK becomes world number two for 4G sign-up rate January 7, 2014 Mobile operator EE announced on Tuesday it had reached 2m 4G customers. The announcement comes only 14 months after the company launched the UK's first superfast broadband service. EE has witnessed a dramatic growth in customers clamouring to sign up to the 4G service. The first million customers signed up in 10 months and the [...]