New York Report: Shares slip on market jitters over stimulus December 10, 2013 US STOCKS slipped yesterday, a day after a record close on the S&P 500, with traders looking ahead to next week’s Federal Reserve meeting in the absence of market-moving economic data. Healthcare stocks were among the most active after company news while utilities was the worst performer of the 10 industry groups on the S&P [...]
Central bankers do battle on avoiding bust: Carney vs Draghi December 10, 2013 Two speeches in two days have set out the stark differences in opinion between two of the most important men in economics. Bank of England governor Mark Carney and European Central Bank president Mario Draghi are both ex-Goldman Sachs employees, but that hasn't led to them sharing views on best practice as central bankers. While [...]
Pensions costs to approach half a trillion by 2062 December 10, 2013 Expenditure on pensions will reach an eye watering £491bn by 2062/63, according to the Office for National Statistics (ONS). In 2062/63 spending on pensions will have reached 9.4 per cent of GDP. The UK's demographic time bomb is ticking, over five million men and 7.3 million women are already over the state pension age. The [...]
One chart that shows how the UK’s growth is starting to take off December 10, 2013 The UK's economy grew by 0.8 per cent in the three months ending November, according to estimates by think tank Niesr. That's an acceleration from an estimated 0.7 per cent growth in the three months ending October 2013. So finally, but very gradually, the UK's economic growth is looking robust in magnitude – [...]
Same-sex weddings coming to England and Wales next March December 10, 2013 Equalities minister Maria Miller has announced that the first same-sex weddings can take place in England and Wales from 29 March next year. Fifteen other countries already recognise the marriages of same-sex couples: The Netherlands, Belgium, Spain, Canada, South Africa, Norway, Sweden, Portugal, Iceland, Argentina, Denmark, France, Brazil, Uruguay, and New Zealand.
General Motors names Barra as first female chief December 10, 2013 The board of General Motors (GM) has chosen Mary Barra (pictured) to succeed incumbent Dan Akerson as chief executive (CEO). Barra, who has been at GM since 1980, will be the first female CEO in the male-dominated global car industry. The board also named Theodore (Tim) Solso to take over from Akerson as chairman, splitting [...]
Finally, here’s a ray of hope for Europe’s mass unemployment December 10, 2013 The majority of business owners in 16 EU member states expect hiring to rise in the first quarter of 2014, according to ManpowerGroup. President of ManpowerGroup, Darryl Green said: Confidence is slowly returning but many are still erring on the side of caution, with positive outlooks reported but at relatively low levels for the time [...]
New chief for Walmart international as Cheesewright steps into breach December 10, 2013 Walmart international, the world's biggest retailer, has appointed its first British chief executive (CEO), David Cheesewright (pictured). Cheesewright, 51, is currently head of Walmart's European, Middle Eastern and African operations, and will become head of Walmart International. He's taking the reins from Doug McMillon, who was chosen to replace Michael Duke as chief executive of [...]
This one chart shows the mess Europe is in December 10, 2013 These industrial output and production numbers, while measured slightly differently, give you a good indication of the huge disparity between European Union economies. While the UK has seen the biggest annual increase in industrial production since January 2011 (that's in the year to October), in the Eurozone things are looking decidedly less buoyant. Greece [...]
5 revolutionary technologies that will change the world forever December 10, 2013 Many of today's leading intellectuals tell us the days of discovery are over and the best we can hope for are incremental improvements. Here is just a small sample of what the world is offering that may make them think twice: In vitro meat In 2013, stem cells were taken from a cow and grown [...]