DailyFX: Analyst picks December 2, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Stay long sterling-yen Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks The sterling-yen long from net ¥160.80 remains in play and, after considerable upside over the past few days, I have moved up my trailing stop. Previously, it was held [...]
City Mo Bro competition comes to an end December 2, 2013 Well, the day you've all been waiting for has come – it's the day of judgement for our City Mo Bro competition. Put down your tash wax, put away the combs – the winner is Steven Farley (second from the right, below) of Majedie Asset Management. We would like to particularly commend Steven's use of [...]
US construction spending increases and manufacturing growth speeds up December 2, 2013 More data to bolster the view that economic activity in the US is picking up more quickly than expected: the manufacturing sector grew in November for the sixth month in a row, according to the Institute of Supply Management. Its manufacturing survey index rose to 57.3, up from 56.4 in October – the highest reading [...]
Wanted to make a fortune from 2000 to 2013? Tobacco and alcohol would have been your best bet December 2, 2013 If you could go back to the start of the century and make a few choice investments to make a fortune by Christmas 2013, what would you have bought? According to Hardman & Co the best return on your investment would have been tobacco followed distantly by alcohol. Since 1 January 2000 capital returns for [...]
US manufacturing rebounds to ten-month high December 2, 2013 Manufacturing outlook in the US is rosier, with business conditions growing more solid, as Markit's headline purchasing managers' index number was at its highest since January in November – rising to 54.7, from 51.8 in October. New orders were also at their highest since January, with the output index at its highest since March 2012. [...]
Five reasons delivery drones won’t take off December 2, 2013 The news is buzzing with hopes for Amazon's drone-based delivery service – Prime Air. But skies in the UK will remain quieter for the time-being. Here's why. 1. Regulation John Moreland, a spokesperson for the Unmanned Aerial Vehicles Systems Association (UAVS) says that regulator fears over drone technology still hold back development. The Civil Aviation [...]
EU regulator says ratings agencies’ poor practices may mean repercussions December 2, 2013 Standard and Poor's, Fitch and Moody's – the "Big Three" credit rating agencies (CRAs) that score EU government debt – could face further action after failing to fix "inadequate practices from the past". The European Securities and Markets Authority (ESMA) published the results today of its probe into how the three agencies compiled ratings on [...]
Funding for Lending use triples but businesses see much less than households December 2, 2013 Use of the Bank of England's Funding for Lending Scheme (FLS) tripled in the third quarter. Net lending jumped to £5.8bn, against £1.6bn in the second quarter – the biggest quarterly net lending flow since the scheme was introduced last summer. The Bank's latest data show that 21 banks and building societies took out £5.5bn [...]
Hope for drone-based delivery service in the UK where 143 UAV licenses have been issued December 2, 2013 While Amazon's drone-based Prime Air delivery service is held up by FAA rules in the US – 143 licenses for drones have been already been grantsd in the UK. With licenses granted for vehicles weighing below 7kg, 7-20kg, and over 20kg, drones could one day replace the traditional postie. As City A.M.'s managing editor Marc [...]
Thames Water plans 11 per cent price hike as it submits business plan December 2, 2013 Thames Water wants a real terms price hike of 11 per cent between 2015 and 2020 according the company's business plan submitted to Ofwat on Monday. Thames Water cited the need for £8bn of investment in the Thames Tideway Tunnel and the wider network as reasons for the price increase. Under the proposed plans the [...]