Back Pietersen to be thorn in side of Aussie bowlers July 17, 2013 Kevin Pietersen will have mixed emotions about his Test match debut against Australia at Lord’s back in the heady and historic summer of 2005. It was all going swimmingly when Steve Harmison ran through the tourists, taking 5-43 and restricting them to just 190 on day one. But when Glenn McGrath skittled England for an [...]
Dollar falls on Bernanke comments July 17, 2013 THE DOLLAR fell and sterling rose this afternoon, after US Federal Reserve chairman Ben Bernanke remained dovish on monetary policy. The central banker added that he expects the economy to pick up further in early 2014 as the dragging effect of the sequester starts to fade, possibly indicating tapering may be delayed until the New [...]
Bernanke claims that Fed’s policies are helping main street more than Wall Street July 17, 2013 Federal Reserve chairman Ben Bernanke has said that main street is doing better than Wall Street, when challenged on what the central banker is doing for the real economy. Bernanke said that the Fed is very focused on main street, and is trying to create jobs and make housing affordable, and that low rates created [...]
Bernanke warns that Congress needs to sort out long-term fiscal issues July 17, 2013 Federal Reserve chairman Ben Bernanke has said that fiscal policy has been focused too much on the short run, to the expense of the long run. Bernanke said that in the short therm the sequester and tax increases will see growth reduced by 1.5 percentage points in 2013, i.e. the US might experience 2.0 per [...]
US housing starts plunge despite upbeat housebuilder confidence July 17, 2013 US housing starts have dropped like a rock despite expectations of improvement in June. Housing starts fell from 0.928m (revised from 0.914m) to 0.836m despite forecasts of an increase to 0.960m. This conflicts somewhat with housebuilder confidence data seen yesterday, the NAHB Housing Market index hit a January 2006 high, with its index of prospective [...]
Bernanke says Fed may taper QE in 2013 but monetary policy is not on a preset course July 17, 2013 Federal Reserve chairman Ben Bernanke has said in prepared testimony that the Fed may taper quantitative easing (QE) – reducing the rate of expansion of the Fed's balance sheet – in 2013, and halt QE altogether around mid-2014. Crucially, Bernanke said that monetary policy is not on a "preset course": I emphasize that, because our [...]
Eurozone construction sees big downwards revisions and enters contraction in May July 17, 2013 Construction output in the euro area has fallen by 0.3 per cent in May, from a 1.0 per cent rise last month (revised down from 2.0 per cent). In the year to May, Eurozone construction has fallen by 5.1 per cent. The euro saw little reaction to the bad news.
UK unemployment edges down from last quarter July 17, 2013 UK UNEMPLOYMENT from March to May was 0.2 per cent lower than the previous quarter at 7.8 per cent, according to new data today from the Office for National Statistics. 2.51 million people were out of work, down 57,000 from December 2012 to February 2013. The number of people claiming jobseeker’s allowance fell by 21,200 [...]
Balfour Beatty wins £70m contract extension July 17, 2013 INFRASTRUCTURE group Balfour Beatty today announced that it has been awarded a five-year extension to its contract with Yorkshire Water, worth around £70m. Under the extended contract, which runs from 2015 to 2020, Balfour Beatty will continue to upgrade the water network, replacing mains and relining old mains. “We are delighted that our long relationship [...]
Pounds jump up a cent against the dollar as Carney unites the Bank of England against further QE July 17, 2013 None of the Monetary Policy Committee (MPC) wanted more quantitative easing at the last meeting, the Bank of England's minutes reveal. Of the nine MPC members zero voted for increased asset purchases. The pound has spiked up against the dollar on the news. Gilt yields have spiked up following the MPC minutes this morning pic.twitter.com/vtDWn2n1Pj [...]
