DailyFX: Analyst picks October 21, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short dollar-yen, long Aussie-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks My dollar-yen short remains viable, despite cooling US fiscal tensions, as the Fed is unlikely to taper in October. US yields should remain under pressure (if not capped). [...]
Logistics firm Charles Gee goes into administration following Hinkley Point nuclear announcement October 21, 2013 Haulage and shipping group Charles Gee has been forced into administration, after saying it was waiting on Hinkley contracts before making a decision on its future. Express and Star reports that a spokesman for the administrators, FRP Advisory, said: "They have been waiting on Hinkley. That would have been a big source of work and [...]
US existing home sales dip in September October 21, 2013 The number of completed transactions on home sales in the US has fallen 1.9 per cent, with existing home sales index coming in at 5.29m, with prices rising at their slowest pace for five months. The reading follows expectations of 5.30m (revised from 5.37m) and after August's near four-year high of 5.39m (revised from 5.48m). [...]
How Goldman’s cafeteria economics helps cut lunchtime queues short October 21, 2013 Tired of wasting your break waiting in line for food? Many of us in the UK are trying to spend less time queueing at lunch, with the average worker taking just 29 minutes before returning to work according to a OnePoll study. As you might expect, the smart guys at top investment bank Goldman Sachs [...]
Facebook updates plagued by glitches October 21, 2013 Users of social media site Facebook have been unable to update their friends this afternoon as the platform suffers from technological issues, with an error message stating that "there was a problem updating your status. Please try again in a few minutes". Doesn't matter which browser you use, or where you are – the problem [...]
Gove green-lights 3D printers in schools October 21, 2013 Education secretary Michael Gove has given the go-ahead for a £500,000 fund for 60 schools to buy 3D printers and train teachers to use them. This follows a project the Department of Education launched last year which funded 21 secondary schools to trial the use of 3D printers in science, technology, engineering, maths (STEM) as [...]
Fed’s Evans sees tapering delayed after Washington battle October 21, 2013 Federal Reserve dove Charles Evans has said that tapering is going to take longer as a result of the US government standoff, saying that the Fed "needs to do whatever is necessary". A little spin on the "whatever it takes" line we're so familiar with central bankers spouting. Evans said that he doesn't think about [...]
£15m UK collaboration to bolster health systems in low and middle-income countries October 21, 2013 The Department for International Development (DfID) has today announced a new £15m research initiative aimed at improving health systems in low and middle-income countries (LMICs). The scheme is a collaboration between the DfID, the Wellcome Trust, Medical Research Council and Economic and Social Research Council and looks to support researchers and research groups in LMICs, [...]
Mutual to own just 30 per cent of Co-op Bank after rescue plan October 21, 2013 The Co-operative Bank will cease to be majority owned by its mutual parent after a drastic rescue plan is finalised, according to reports by Sky News City editor Mark Kleinman. After revealing a £1.5bn capital black hole in June the troubled bank has looked for investment to plug the gap. This morning it announced that [...]
Starbucks appoints former Pizza Hut chief as new UK managing director October 21, 2013 Coffee company Starbucks has announced the appointment of Mark Fox as UK managing director of the company, effective from 6 January. Fox has over 20 years of retail operations and franchise experience, and was recently CEO of Pizza Hut UK. He's also worked with Compass brands in the UK and Ireland. Now he says that [...]