Mexican economy’s four year expansion cut short August 20, 2013 Mexico’s economy shrank unexpectedly in the second quarter, becoming the first quarter in the last 17 to experience contraction (release). Mexico’s gross domestic product (GDP) fell by 0.7 per cent between April and June 2013. Analysts had expected to see a 0.2 per cent expansion following the previous quarter’s 0.5 per cent growth. On an [...]
Government names preferred bidders for electronic tagging contract August 20, 2013 The Ministry of Justice has selected preferred bidders for four contracts to deliver new satellite technology to track the movement of offenders in the community, including outsourcing giant Capita and British family-run company buddi (release). It’s the first time the service has been let nationally, and is expected to generate significant efficiency savings for the [...]
Growing business confidence kickstarting IPO recovery – Capita August 20, 2013 The London initial public offering (IPO) market is recovering from the "hangover" of the financial crisis, but we're still a long way off the "glory days", Capita has said. By Capita's calculations, 53 companies undertook an IPO in 2012 – the second worst year on the domestic main market of the last fifteen years (after [...]
Index of US economic activity negative for fifth month August 20, 2013 Optimism for the US economy has improved slightly, as the Chicago Fed national activity index moved from -0.23 to -0.15 in July. That's the fifth consecutively negative read for the index. Last month's figure was better on release, now revised from -0.13 to -0.23, and analysts had been hoping for an improvement to -0.10.
Bank of Japan’s Kuroda says they will do whatever it takes to beat deflation August 20, 2013 Bank of Japan governor Haruhiko Kuroda has pledged that the central bank will do "whatever it takes" to beat deflation, as Japan's economic improvement steadily proceeds. Kuroda cited signs of positive cycle of output, income and spending, but claimed that a proposed sales tax hike wouldn't derail Japan's economic recovery. The central banker also warned [...]
Guardian has “held back a great deal” of leaked data, editor says August 20, 2013 Alan Rusbridger, editor of the Guardian newspaper, has said he has "held back a great deal" of information about the Edward Snowden case out of concern for the consequences for national security. Speaking on BBC Radio 4 today, Rusbridger said that there is a problem when you "start conflating journalism and terrorism". This follows the [...]
Capital Economics hikes UK growth forecast to over one per cent this year August 20, 2013 Capital Economics has nudged up its GDP forecasts for this year from 0.8 to 1.2 per cent this year as business surveys, retail sales figures, news on the housing market and consumer confidence indicate growing momentum in the second half. Growth next year is expected to accelerate, with Capital Economics now forecast growth of 2.0 [...]
China to become world’s biggest importer of crude oil by 2017 August 20, 2013 China is set to overtake the US as the world’s biggest importer of crude oil by 2017, consultancy Wood Mackenzie has said. It is estimated that China will spend $500bn (around £320bn) on 9.2m barrels of imported crude oil per day by 2020, up from 2.5m barrels per day (bpd) in 2005. By comparison, US [...]
Home Office says opposition to detention without charge implies support for terrorism August 20, 2013 The Home Office has said that the government has a "duty to protect the public and our national security" in the wake of the detention of David Miranda at Heathrow airport. If the police believe that an individual is in possession of highly sensitive stolen information that would help terrorism, then they should act and [...]
German finance minister says Greece will need another aid program August 20, 2013 German finance minister Wolfgang Schaeuble has said that Greece will need another aid program, saying that the first was "unique". Initial reports from Bloomberg suggested that Schaueble believed another program would not be necessary. Classic day in euro loony land with Bloomberg's help — deltahedge (@minefornothing) August 20, 2013 This is a bit of a [...]