Silicon Valley was not built in a day November 7, 2010 DAVID Cameron has announced his vision for an “East London tech city – a hub that stretches from Shoreditch and Old Street to the Olympic Park”. Cisco is signed up to establish a supporting innovation centre, and McKinsey and Qualcomm are promising advice on strategy and intellectual property issues, but can a package of new [...]
There’s still no such thing as a free lunch November 7, 2010 MILTON Friedman said that there is no such thing as a free lunch, but even he might have been surprised by the cost of a meal today. World food prices have soared back up to levels last seen in the crisis of 2007-2008, leading some to warn of renewed food riots. Russia recently extended its [...]
Face it, trader: Santa does not exist November 7, 2010 THERE is consensus among sane-minded adults that Santa Claus does not exist. We have – just about – come to terms with the fact that there is no jolly red-suited fellow that wriggles down the chimney and fills our stockings each year. Yet strangely there are still traders who believe in his stock market rally. [...]
WALL STREET TO KEEP ON CLIMBING POST-FED’S QE November 7, 2010 With the Fed confirming the latest round of quantitative easing and the Dow breaking above the April high of 11,258, this now becomes the first level of support for the index. WorldSpreads offer a two-point spread on the Dow Jones index. US crude oil was given a boost by the Fed decision and positive US [...]
CITY INDEX November 7, 2010 Q.Dear Sandy, will the FTSE 100 continue to climb in November? A.Traders have been digesting a raft of information over the last few weeks. With the $600bn injection from the Fed and President Obama’s mid-term elections out of the way, the market has not reacted negatively, unlike what many traders had expected. When markets behave [...]
US data lifts investors’ spirits November 7, 2010 Shares are likely to open higher this morning, with investors remaining in buoyant spirits following on from Friday’s stronger than expected non-farm payrolls data from the US economy. GFT is quoting the FTSE 100 index to open up 14 points from Friday’s close, at a level of 5,889. The German DAX 40 is expected to [...]
Rolls-Royce hit as fears mount November 7, 2010 ROLLS-ROYCE, one of Britain’s last remaining manufacturing giants, suffered a fresh blow yesterday. Australian flag carrier Qantas claimed it had found issues with three more engines on its grounded Airbus A380 “superjumbo” fleet following last week’s engine failure. Qantas has removed two engines from an A380 in Sydney and one from a jet in Los [...]
Murdoch’s Sky bill soars November 7, 2010 NEWS Corp may have to pay up to 870p a share to regain control of BSkyB, with industry sources claiming resolve at board level has toughened over the last week. This would value Sky at a staggering £15.2bn – a full £3bn above the price News Corp bid in June. Shares in Sky jumped more [...]
WALL STREET WEEK AHEAD November 7, 2010 Wall Street navigated through three major landmines last week – the elections, the U.S. Federal Reserve meeting and jobs report – with barely a scratch. Now what? With earnings season winding down and a light economic calendar this week, the market will be left to its own devices to sort out its direction. A rise [...]
IDS: Work or lose benefits November 7, 2010 WORK and Pensions Secretary Iain Duncan Smith is set to announce plans to force the long-term unemployed to sign up for compulsory community work or lose their benefits. Private sector firms are among those who could benefit from the scheme, as well as charities and local councils. The work will be mostly comprised of manual [...]
