US jobless claims fall unexpectedly to six-year low August 15, 2013 The number of people signing up for unemployment benefits in the US for the first time fell unexpectedly in the week to 10 August 2013. Some 320,000 people began claiming in the week, down from a revised 335,000 the week before. Analysts had expected to see 335,000. The total number of people claiming unemployment benefits [...]
Fed needs more data before it can make a tapering decision August 15, 2013 Speaking ahead of US inflation data, St Louis Federal Reserve president James Bullard has said the Fed would need more data before it can make a a definitive decision about the timeline for tapering off its asset purchase programme. He reiterated that a decision to reduce the pace of asset purchases would not change the [...]
Walmart revises down earnings forecast as US comparable sales miss August 15, 2013 Asda owner Walmart has reported same-store sales in the US fell by 0.3 per cent in the second quarter of the year – missing analyst expectations of a one per cent rise (release). Walmart revised down its full-year earnings per share (EPS) expectation to a range of $5.10 to $5.30 from the previous range of [...]
Buffett boosts stake in General Motors, reduces interest in Kraft August 15, 2013 Billionaire investor Warren Buffett’s Berkshire Hathaway made some significant changes to its stake in key companies in the second quarter of the year, the company has announced (release). Berkshire said its pre-tax earnings increased by nearly 50 per cent to $4.6bn from $3.2bn in the same period the year before. The US conglomerate revealed it [...]
Brent crude driven higher on Egypt turmoil August 15, 2013 The price of brent crude has risen to $111(£71.46) a barrel after the violence within Egypt. The fear is not over a fall in oil production, as Egypt is not a major producer of oil, but the possiblity of violence spreading into nearby major oil-exporting nations or to the distruption to the Suez Canal, a [...]
Proportion of A level papers given top marks falls for second year August 15, 2013 The number of students gaining an A or A* grade at A-level has fallen for the second year running as students opt for the tougher options. Some 26.3 per cent of papers this year were marked A or A*, down 0.3 percentage points from the year before. The number of entries marked as A* also [...]
What the analysts are saying about UK retail sales growth August 15, 2013 Source: Capital Economics Earlier this morning, the Office for National Statistics reported that retail sales jumped by 3.0 per cent year-on-year in July, boosted by sunny weather and food sales. For the most part, analysts seemed cautious about getting too excited over the data and prospects for a sustainable recovery. Martin Beck, UK economist [...]
UK investment advisers return to market as standards boost confidence August 15, 2013 The number of retail investment advisers operating in the UK increased by five per cent in the period December 2012 to July 2013, according to figures from the Financial Conduct Authority (FCA). The FCA believes this is down to advisers re-entering the market. Consumer confidence in particular has been boosted by the professional standards set [...]
July heatwave drives UK retail sales up August 15, 2013 The third warmest July on record drove Britons to the shops in hoardes, according to figures from the Office for National Statistics. Retail sales rose at an annual rate of 3.0 per cent, beating even the more optimistic of estimates. By comparison, annual growth in June was 2.2 per cent. The primary driver of growth [...]
Sunny weather sparks sharp growth in UK retail sales August 15, 2013 UK retail sales smashed expectations in July as a heatwave drove more customers into stores (release). Year-on-year, UK retail sales increased by 3.0 per cent, beating already optimistic expectations of a 2.5 per cent increase from 2.2 per cent growth the month before. Growth came primarily from the food and non-store retailing sectors, with the [...]