Potential delay on retina display for new iPad Mini October 2, 2013 A new version of Apple's iPad Mini with a high-resolution "retina" display will not be rolled out this month, reports Reuters. This puts the tablet at a disadvantage compared to rival products from Google's Nexus 7 and Amazon's Kindle Fire HDX. Sources said that Apple's supply chain is only now preparing to make retina diaplays [...]
Euro trades above $1.36 as ECB’s Draghi suggests monetary policy will stay loose October 2, 2013 European Central Bank president Mario Draghi has said that the central bank stands "ready to use all available instruments, including an LTRO". That's a heads up that monetary policy will stay loose (in addition to his usual "monetary policy will remain accommodative" spiel). Draghi's assessment of inflation risks saw no change – he said they [...]
Private sector US job data misses estimates – and markets have little else to go on October 2, 2013 While the US government is in shutdown, we're not likely to get labour market estimates from the public sector statisticians – and when they do come they may be rushed, and face revisions afterwards. So for now markets are making do with private sector data releases, and the ADP number just missed estimates. Expected to [...]
Business group to PM: “If tax cuts aren’t dirty, let’s have a few more of them” October 2, 2013 The Institute of Directors has urged Cameron to reduce the tax burden. Responding to David Cameron’s speech to the Conservative Party conference today, Simon Walker, the group's director general, said: Businesses up and down the country will welcome the Prime Minister’s recognition that they are the driving force behind the economy, creating jobs and putting [...]
ECB keeps interest rate at 0.5 per cent October 2, 2013 The European Central Bank has announced its decision to hold the interest rate for the Eurozone at 0.5 per cent. All other rates remain unchanged. Capital Economics' Ben May comments on the ECB's decision: The ongoing improvement in the outlook for the euro-zone economy had ruled out an ECB interest rate cut today. Meanwhile, the [...]
Berlusconi backs government in confidence motion October 2, 2013 Silvio Berlusconi has announced to the Senate that his PDL party will back the government in its vote of confidence. The support the PDL guarantees that the government will win today's vote and that there will not be a fresh wave of elections. The move is dramatic U-turn from Berlusconi's party which withdrew five ministers [...]
Italian confidence vote called as debate rages October 2, 2013 The vote of confidence in the Italian government has been officially called. It is still unclear whether Silvio Berlusconi himself will back the government, but what is clear is that a significant part of his party will vote for prime minister Letta. The vote has not yet taken place and Berlusconi is not expected to [...]
Bank’s Fisher says borrowers and lenders must not over-stretch themselves October 2, 2013 The Bank of England's Paul Fisher has said that while the Funding for Lending Scheme has been "remarkably successful", it is important that "both borrowers and lenders need to be careful not to over-stretch themselves." Bank staff projections for net lending to the real economy, consistent with the MPC’s outlook for growth in the August [...]
MP quits role to spend more time with his All-Party Freight Transport Group October 2, 2013 Labour MP Rob Flello has resigned as shadow justice minister "after careful consideration" in order "to return to the backbenches to focus on my other parliamentary interests. Flello is chair of the All-Party Freight Transport Group, which states as its objective that it will "promote freight transport issues and provide a forum to discuss challenges [...]
Crossrail construction digs up Roman skulls October 2, 2013 About 20 Roman skulls have been unearthed near Liverpool Street station during work on the Crossrail project. Workers, under the direction of Crossrail's achaeologists, removed the human skulls and Roman pottery, found in the sediment of the historic channel of the River Walbrook. Construction on the site has already unearthed remains from other periods, with [...]