Fox-Pitt clinches European bronze September 1, 2013 EQUESTRIAN: Double Olympic silver medallist William Fox-Pitt won bronze at the European Eventing Championships in Malmo yesterday.
Any Other Business – 02/09 September 1, 2013 Bank of England governor Mark Carney impressed conference delegates in Nottingham on Wednesday with his regional knowledge. The Bank boss earned major cool points by dropping the name of local-born singer-songwriter Jake Bugg into his speech. However, what did former monetary policymaker-slash-rocker Andrew Sentance think of the governor’s musical name-dropping? “I’d not heard of him [...]
London mayor says there is “no evidence” expanding Heathrow would be cheaper than building new hub September 1, 2013 London mayor Boris Johnson has outlined his plans for a new London airport to boost the UK’s air capacity as the country falls “further and further behind” in the global aviation race: a four-runway hub on the Isle of Grain as proposed by architect Lord Foster. Speaking at a press conference, Johnson proposed the inner [...]
Obama just dealt his first big blow to the US economy – Now wait for the second August 30, 2013 US President Barack Obama may have just dealt his first big shock to the US economy of 2013. Secretary of state John Kerry just dropped huge hints of military intervention against Syria – a "tailored response". As Kerry spoke, we saw the VIX, an index of US equities volatility, jump from below 17.4 to over [...]
Chicago-area outlook sees marginal improvement in August August 30, 2013 The Chicago purchasing managers' index – which offers a glimpse into business conditions in Illinois, Indiana and Michigan – has picked up in August. Rising from 52.3 to 53, that's just below economist estimates of an improvement to 53.2. Any number above 50 implies expansion, so order books in the region can now be seen [...]
Of course markets have rejected “preposterous” forward guidance August 30, 2013 While forward guidance has become incredibly fashionable among central bankers, with the Bank of England and European Central Bank adopting the tool, many claim that it is bunkum. Economist Detlev Schlichter is one of those, and strongly disagrees with the notion that new Bank of England governor should be called one the "most talented central [...]
London councils lead the table for parking fines August 30, 2013 Total parking fines have now risen to £884m in 2011, up nearly 10 per cent from total council income from these fines in 2008. Data obtained by the Federation of Small Businesses (FSB) from a Freedom of Information (FOI) requests shows that East Yorkshire received the least income from motorist fines. Yet London and Thames [...]
Goldman slashes US GDP forecast on weak income and spending data August 30, 2013 Goldman Sachs has cut its third quarter US GDP forecast from 1.7 per cent to 1.5 per cent after the release of weak data. US personal incomes grew by just 0.1 in July, economists had expected an increase of 0.2 per cent, matching last month's increase. Spending grew at the same 0.1 per cent rate, [...]
When is a euro not a euro? When it’s in Cyprus August 30, 2013 Capital controls in Cyprus have been renewed for a further 28 days. These "temporary" controls were introduced in March. Authorities then said that they may last as little as a week. The sceptics disagreed, and 155 days later, they're still in place. It's a similar situation to the one in Iceland, where "temporary" controls have [...]
The Eurozone is seeing a no-inflation recovery August 30, 2013 Berenberg's Christian Schulz says that the Eurozone is now witnessing a "no-inflation recovery" on the back of strong confidence numbers released this morning. The Eurozone unemployment rate stayed at 12.1% in July. The stable headline rate conceals a second successive monthly fall in the number of unemployed. Whether that fall can last into the autumn [...]
