The ECB’s new press chief just killed the Draghi tie guesses game May 8, 2014 It's that Thursday of the month again, and finance Twitter is getting ready for the big event. Many would traditionally have spent the morning making their forecasts. Not on the subject of European Central Bank policy (their monthly decision is out at 12.00pm), but on what colour tie President Mario Draghi would be wearing at [...]
Chinese trade data and dovish Yellen boost Asian markets May 8, 2014 Asian markets have been boosted by a recovery in Chinese exports and imports as well as Federal Reserve chairman Janet Yellen's commitment that the Fed will continue to support the US economy. Chinese export growth rose from -6.6 per cent year-on-year in March to 0.9 per cent in April, outperforming Bloomberg's median estimate of minus [...]
Yellen: Low rates to stay as labour market still unsatisfactory May 7, 2014 Janet Yellen has today defended the US’s central bank’s accommodative policy, saying it still remains warranted – it’s not rushing to raise interest rates. Giving her testimony to Congress, this is Yellen’s first opportunity to speak following April’s improved jobs figures. Dismissing concerns over growth stangation in the first quarter – which, she said, were [...]
Boris slams transactions tax as a threat to the City April 30, 2014 A NEW tax on financial transactions (FTT) will drive business out of London, Boris Johnson warned yesterday, as the European Court of Justice kicked out a British challenge to the tax. Countries like France and Germany want to tax each trade of shares issued in their countries, wherever in the world they are traded. Bonds and derivatives [...]
Mind the snap: Boris poses for a strike selfie April 29, 2014 NEVER one abandon to his people to a morning of queueing at bus stops and squeezing, sardine-like, into Tube stations alone, Boris Johnson trooped down to London Bridge yesterday to support strike-stricken commuters. He was happy to pose for a selfie with a passer-by but deftly maintained a half-grimace to show his displeasure at the [...]
A revue of reviews – everything you could ever want to read about Piketty’s Capital April 28, 2014 You may not have read French Economist Thomas Piketty's near-700 page long Capital in the Twenty-First Century, but there's no need to worry – neither have some of the people who've reviewed it. Below are some of the biggest reviews of the work so far, ranging from praise to scorn, and with a wide range [...]
Draghi hints at publishing euro bank’s minutes April 24, 2014 EUROPEAN Central Bank (ECB) chief Mario Draghi hinted yesterday that the Eurozone’s interest rate setters could start to publish minutes of their policy meetings, following the standard practice of other major central banks. Speaking in the Netherlands, Draghi said: “The publication of a richer account of our monetary policy deliberations represents a logical next step [...]
Branson’s airline narrows its losses April 24, 2014 VIRGIN Atlantic expects the benefits of its cost-cutting plan and a tie-up with US carrier Delta Air Lines to help it back to profit by the end of this year. Virgin, which is in the middle of a two-year turnaround plan under new boss Craig Kreeger, halved its group pre-tax loss of £51m last year. [...]
ECB’s Draghi suggests minutes are a “logical next step” April 24, 2014 The European Central Bank's President is pushing efforts at greater clarity. Mario Draghi has said that "the publication of a richer account of our monetary policy deliberations", otherwise known as minutes, now "represents a logcal next step". The central banking chief thinks that publication would "provide a more detailed explanation of the reasoning" behind ECB [...]
Sports Direct criticises investors for rejecting Mike Ashley bonus April 23, 2014 SPORTS Direct yesterday hit out at shareholders for failing to back a bonus share scheme that would have awarded its founder Mike Ashley a £70m windfall, as it posted a rise in fourth quarter sales. The sportswear giant’s board was forced to cancel the plan earlier this month after failing to win enough investor support. [...]