How the Fed data leak illustrates the problem of central bank power September 24, 2013 One chart has the US' Federal Reserve worried that it has a secrecy problem. Research from Nanex shows that trades were made on data at exactly the same time in both Chicago and New York at the time of the Fed's "no taper" decision last Wednesday. That should be impossible, even with the latest technology [...]
Warnings that Labour proposals could result in fuel shortages and capital flight September 24, 2013 Business groups have slammed Labour leader Ed Miliband's speech as laying out an irresponsible approach to British business. CBI director-general John Cridland has said that the proposals are a "setback for Labour's pro-enterprise credentials". Cridland says that suggestions that business rates should be frozen with revenues from higher corporation tax rates are "divisive" and that [...]
Market says Labour won’t win in 2015: Energy shares barely move on price fix announcement September 24, 2013 Markets have been moved by Ed Miliband's pledge to ban energy price increases for 20 months if is elected. But the changes are minute. If a Prime Minister were to make this claim in office we'd expect a much harsher drop. So either Miliband's promise isn't seen as credible or his chances aren't that strong.
Ed Miliband to ban energy price rises for two years September 24, 2013 Ed Miliband today said he would make it illegal for energy companies to increase the price they charge for gas or electricity during the first 20 months of a Labour government. All UK homes and businesses would benefit from the move, which Labour believes would cost major energy companies £4.5bn. Miliband will also commit to [...]
Global bellwether Holcim is optimistic about cement demand September 24, 2013 Swiss cement giant Holcim is optimistic about the outlook for its biggest customer India, according to an interview with Reuters. Chief Executive Bernard Fontana told Reuters "There are some positive signs coming from India". Despite slower economic growth of 5.3 per cent this year Fontana told Reuters Even with 5 percent GDP growth, you can [...]
Tucker’s parting shot: Bank cannot provide stimulus without limit September 24, 2013 The Bank of England's Paul Tucker has suddenly taken a turn for the hawkish, warning that the central bank "cannot provide stimulus without limit, without a wary eye to inflation expectations." Giving his last scheduled speech speech as deputy governor for financial stability (he leaves for the Harvard Kennedy School and Harvard Business School in [...]
Facebook shares boosted by Citi target hike September 24, 2013 Shares in social media giant Facebook are up 1.9 per cent in pre-market trading as Citi has raised its rating on the company's stock to buy. Citi cited Facebook's recent success in monetising mobile usage of the network as reasons for the change, and now target a value of $55 (£34.41). Facebook stock closed at [...]
First the central bank, now tennis: Canadians moving to the top of British institutions September 24, 2013 In July we welcome Canadian Mark Carney as governor of the Bank of England, now the Lawn Tennis Association has appointed Michael Downey as its chief executive. While Carney left his job at the head of the Bank of Canada, Downey joins from his position as president and CEO of Tennis Canada after nine years [...]
Over 80 per cent of investors and analysts believe the UK’s recovery is here to stay September 24, 2013 A poll conducted by Populus for Capital Spreads has found increasing confidence in the UK economic recovery. The poll of 200 investors and analysts found that 82 per cent believed the economy would continue to improve over the next twelve months.The poll represents a significant increase from 69 per cent last year. Increasing growth forecasts [...]
18 large deals see 2013 M&A volume pass $2 trillion September 24, 2013 (Dealogic) Merger and acquisition (M&A) activity is back, and 18 large deals in the first nine months of 2013 are responsible for a large 22 per cent chunk of it, the highest since the same period in 2008. New analysis from Dealogic shows that M&A volumes have now exceeded $2 trillion (£1.25bn). That's an increase [...]
