New York Report: US stocks up as investors bet on debt deal October 14, 2013 US stocks ended a volatile session with modest gains yesterday, as investors bet that there would soon be a deal in Washington to increase the debt limit, though there were no obvious signs of progress. President Barack Obama was scheduled to meet with several congressional leaders, and while the White House said the meeting had [...]
Abe’s absent arrow: Slow reform in Japan October 14, 2013 Despite hopes of a further rally, long-term worries abound Japan’s Nikkei 225 index enjoyed a strong rally last week, climbing from Tuesday’s low of less than 13,754 to almost 14,405 on Friday (markets were closed yesterday). While tied to volatility surrounding the US debt ceiling debate, these gains came amid news that Japanese machinery orders [...]
CNBC Comment: Stability isn’t saving emerging markets October 14, 2013 INVESTORS have remained remarkably sanguine, despite being just a couple of days from the 17 October date when the US Treasury says it will run out of money if the debt ceiling isn’t raised. Yes, volatility has spiked, and very short-dated credit has seen yields higher. But whatever last minute extension is crafted, everyone expects [...]
DailyFX: Analyst picks October 14, 2013 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Short dollar-yen, waiting on Aussie-yen direction Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks Dollar-yen remains highly volatile and susceptible to further instability thanks to US fiscal deadlock – at a bare minimum, a short-term resolution to lift the debt [...]
Any other business – 15/10 October 14, 2013 On 5 December the NSPCC hosts its flagship City fundraising event, the Great British Chefs’ Dinner. The event is being held at Banqueting House and will raise funds for the charity’s groundbreaking ChildLine Schools Service. The Capitalist will be posing one question a week until 28 October and winners will receive a £50 voucher for [...]
Four charts that show how remittances are helping growing economies October 14, 2013 The World Bank published a great briefing paper on remittances this month, and the data is staggering. Remittances (the flows from non-residents to residents) are expected to $540bn (£338bn) by 2016. We've got four charts from that paper that show just how vital remittances are to growth. 1. Remittances are huge Even your armchair economist [...]
Christmas sales to be strongest since crisis October 14, 2013 Christmas sales this year are forecast to be the best since the pre-recession levels of 2007, according to a report released by Verdict Retail. Consumer spending is expected to reach £88.4bn in the fourth quarter, a 2.2 per cent increase from last year. Online sales are set to reach £11.6bn, a 12 per cent rise [...]
Saudi Arabia announces plans to start shale production October 14, 2013 Saudi Arabia is preparing to become one of the first countries outside North America to use shale gas for power generation, reports Reuters. Keen to jump on the US shale bandwagon, the oil heavyweight has announced its initial plans to capitalise on its large unconventional deposits, thereby retaining its oil for export. Speaking at the [...]
Five best spots in the City for a clandestine meeting October 14, 2013 Security experts Blackstone Consultancy have analysed the City of London's top venues to find the best spots for those wanting to host clandestine meetings with potential employers, recruitment consultants, or with other parties that value discretion. The research was conducted by recruitment platform jobandtalent.com and saw security experts scrutinise some of the City's most popular [...]
IoD appoints former Financial Mail on Sunday editor to advise on diversity strategy October 14, 2013 The Institute of Directors (IoD) has appointed the former editor of the Financial Mail on Sunday, Lisa Buckingham, as a senior consultant. Buckingham, who is also a special advisor for the government's Start Up Loans company, will be helping to push forward the IoD's wide-ranging diversity strategy. She is known for her work to improve [...]