Brace yourself for Euro recession December 10, 2012 YOU may as well enjoy the Christmas party season because I don’t see much festive spirit lasting into January. We knew things weren’t going to look pretty in Europe next year, but last week it was confirmed. Twice – just to make sure we’re convinced. At his last European Central Bank (ECB) meeting of the [...]
Analyst picks for 11 December 2012 December 10, 2012 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Long dollar-yen, and long gold Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few days With the Fed expected to announce a extension to QE3 or a new QE4 (similar to QE2), the US dollar could be under pressure soon. I’ve moved [...]
Get on your bike this Winter December 10, 2012 The weather may have taken a turn for the worse, but that won’t stop London’s hordes of cyclists from taking to the saddle. This means that, even more than usual, the right equipment and accessories are essential for life on the road. For jackets, no fit can match the sleek shape of Gore’s Bike Wear [...]
Italian and Spanish bond yields rise on Monti’s resignation announcement December 10, 2012 Italian and Spanish bond yields have risen dramatically in the wake of Italian Prime Minister Mario Monti’s resignation announcement over the weekend. 10-year borrowing costs in Italy jumped 36 basis points to 4.9 per cent, a two-week high, whilst Spanish bond yields increased by 18 basis points to 5.7 per cent. Alessandro Giansanti, senior rate [...]
FTSE 100 down on Italian uncertainty December 10, 2012 Concerns over the health of the Eurozone weighed on the blue chip index this morning, following Italian Prime Minister Mario Monti’s announcement that he intends to resign after the 2013 budget is approved. The FTSE 100 was trading 0.2 per cent down in early trading, led down by insurer Aviva and miner Eurasian Natural Resources, [...]
Chinese export growth disappoints December 10, 2012 Chinese export growth slowed to a lower-than-expected 2.9 per cent in November as global demand remained muted. Export growth over the month was well below expectations for a nine per cent increase, and behind October’s 11.6 per cent rise. Imports were flat year on year, off forecasts for a two per cent rise. The data [...]
UK Coal completes restructure to become Coalfield Resources December 10, 2012 Producer UK Coal said this morning it had completed a restructuring of the business to create two divisions and rename the firm Coalfield Resources. Two separate businesses comprising the mining division and the property division have been created, called Mine Holdings and Harworth Estates respectively. Control of the mining division has passed to a newly-established [...]
Greggs chief to stand down December 10, 2012 Bakery chain Greggs this morning said that its chief executive Ken McMeikan is to stand down and take up the role of chief executive of catering firm Brakes Group. McMeikan, who will stay in his role until a successor is appointed, has headed up Greggs for four years. Derek Netherton, chairman of the bakery chain, [...]
Coalition fails to cut red tape December 9, 2012 THE GOVERNMENT’S plan to slash red tape and free up businesses to grow has failed, a leading business group said yesterday, with regulatory costs soaring and ministers fighting a losing battle with the tide of EU regulation sweeping the country. City representatives and business campaigners called on the government to renew its efforts, citing rules [...]
Mario Monti to resign as Italy’s PM December 9, 2012 MARIO Monti shook the Italian political landscape this weekend, when he announced that he would resign as Prime Minister once the 2013 budget was passed, potentially bringing forward next year’s Italian election and leaving in question many of his unfinished reforms. Monti announced his intention to resign on Saturday, after losing the support of Silvio [...]
