Roman and iron age coins found in Derbyshire cave: Could they have belonged to an ancient speculator? July 7, 2014 The discovery of 26 coins at Reynard's Kitchen Cave in Dovedale, Derbyshire, has historians faced with something of a mystery. The 26 coins unearthed include artefacts both of Roman and late iron age origin – the first time coins of these two have been found buried together in a British cave – along with a [...]
German industrial output slides into reverse: Here’s what the analysts are saying July 7, 2014 Germany's industrial output has slipped into reverse this May, as total output has fallen by 1.8 per cent in a single month. The German Federal Statistical Office has also revised down last month's growth number, from tepid 0.2 growth to a 0.3 decline in output. Analysts have been caught off guard by the decline. Economists [...]
Mark Carney makes first key cut as Bank of England governor July 6, 2014 Mark Carney has made his first cut since he walked through the door at Threadneedle Street in July. Not to interest rates – although they remain at their historic lows of 0.5 per cent – but to one of a large selection of cakes at this year's Bank of England summer party. The Bank governor [...]
Boosting investment is “only way out” for Europe – ECB’s Coeure July 6, 2014 Governments must do more to aid the European recovery, by cutting sovereign debt and boosting the level of investment, says European Central Bank (ECB) executive board member Benoit Coeure. Speaking in Aix-en-Provence, France, Coeure said that the current economic situation is very worrying, and that "the only way out is by investing". But this should [...]
HSBC to pull out of Libya after 55 years in the country July 6, 2014 HSBC is set to close its representative office in Tripoli, Libya, which manages investments for the bank in the North African country, according to The Telegraph. The bank opened the office in 2006, after nearly 50 years of operations in the state. The Tripoli branch was most recently closed in 2011, during a civil war [...]
IMF sees no “brutal slowdown” in China – Christine Lagarde July 6, 2014 China's economic expansion isn't set to stutter, according to the International Monetary Fund (IMF). IMF managing director Christine Lagarde says that the fund sees "no brutal slowdown" and expects that China will achieve growth of seven to 7.5 per cent this year. Investors now see a possible slowdown in Chinese growth as a key risk, [...]
Independence Day euphoria: Stocks nearly always jump before 4 July July 4, 2014 Yesterday saw tremendous performance by US stock markets as they closed early for the week, reflecting the national Independence Day holiday, which falls today. The Dow Jones Industrial Average moved above the 17,000 mark for the first time in its history, propelled by labour market data that crushed analyst expectations. Perhaps we shouldn't be surprised [...]
Mark Carney’s Bank of England snubs staffer: Cancels cricket fun at staff party July 4, 2014 Just weeks after one colleague celebrated his love of cricket in a public speech, Mark Carney's Bank of England has confirmed that it has axed all cricket-related hijinks at its staff summer party. There will no cricket match at the central bank's summer, as first reported by Bloomberg. The move is a stark tone change [...]
How rising interest rates could hit UK stocks – the Goldman Sachs view July 4, 2014 As central bank watchers attempt to gauge when the Bank of England will start to normalise interest rates from their post-crisis settings, the number crunchers over at Goldman Sachs have tried to calculate the impact of a rate rise on stocks. They find that a rise in interest rates is often – but not always [...]
Car registrations leap to best first-half performance since 2005 – as Fiesta leads sales July 4, 2014 UK car sales have motored on to their best half-year total since 2005. Data from the Society of Motor Manufacturers and Traders (SMMT) reveals that 1,287,265 new cars were registered in the first six months of 2014. That's a 10.6 per cent rise on the same six months last year. Mike Hawes, SMMT chief executive, [...]