Stronger growth in retail sales this September despite real wage squeeze October 17, 2013 The UK's retail sector looking stronger still this September. It's a stark contrast to yesterday's confirmation that real wages are still declining. In the month of September retail sales grew by 0.6 per cent, against economist forecasts of a 0.4 per cent rise. Last month retail sales fell by 0.9 per cent. No huge reaction [...]
Gold prices spike above $1,300 October 17, 2013 Gold prices have surged by nearly $30/oz, rising to as much as $1,314/oz. No clear driver, but we're seeing the relationship between gold and the US dollar restored. Analysts at CMC say that it's a rare positive day for the precious metal, and that the spike is on a thin underlying market. Sharp rally in [...]
3D printing could spark high street revival says JP Morgan October 17, 2013 JP Morgan has suggested that 3D printing (3DP) is the trend to watch, although the short term impact will be limited. JP Morgan analysts who visited 'the future is here' exhibition concluded that 3DP should be watched closely and suggested that mall operators should focus on gaining more 3DP store tenants. A major factor in [...]
US credit ratings downgraded to A- by Dagong October 17, 2013 US foreign currency credit ratings have been downgraded from "A" to "A-" by Dagong. That's the same rating Dagong has Brazil and Panama at. They cited the "recurrence of the conflict" over the debt ceiling, which Dagong says "reveals the US superstructure's incapacity to solve" its national debt crisis. Dagong said that the shutdown was [...]
US gaffer tape fix fails to inspire European markets October 17, 2013 We may have avoided a US default – but European markets aren't too exuberant about a Washington deal. There's only been a short term fix to the artificial debt ceiling constraint – and there are no signs of a credible longer term plan to deal with the debt itself. The solution has been "good, but [...]
Regulator confirms ongoing investigation into foreign exchange trades October 16, 2013 The financial conduct authority (FCA) has confirmed recent speculation that it is conducting an investigation into foreign exchange markets. We can confirm that we are conducting investigations alongside a number of other agencies both in the UK and abroad into a number of firms relating to trading on the foreign exchange (forex) market. As part [...]
EADS Test & Services sale expected within weeks October 16, 2013 The European Aeronautic Defence and Space Company is within weeks of agreeing the sale of its Cassidian Test & Services Unit. Chief strategy and marketing officer, Marwan Lahoud, told a committee of the French Parliament: We have identified several investors and expect to take a decision in a few weeks. The subsidiary was put up [...]
US housebuilders see lowest confidence since June October 16, 2013 US homebuilders having a rough one this month. The NAHB housing market index dropped from 57 (revised from 58) to 55 in October. That's the lowest level since June. Analysts had been expecting an improvement to 58.
US default averted: Markets higher on news that political squabbles are over October 16, 2013 Republican leader John Boehner has agreed to take up the Senate's plan to avert a US default, according to Robert Costa of the National Review. That will allow it to pass with Democrat votes. Stocks are now roaring. The Dow Jones Industrial Average is up nearly 200 points, while the Nasdaq and S&P are up [...]
YouView signs up non-exec chair who was credited with saving NTL October 16, 2013 Streaming services company YouView has appointed Simon Duffy as a non-executive chairman. Duffy is no stranger to television services – he's widely credited for the rescue of debt-laden NTL (now Virgin Media) when he was executive vice chairman there. If you don't know it – YouView says that it's the UK's fastest growing TV platform, [...]
