What the other papers say this morning – 18 February 2014 February 17, 2014 FINANCIAL TIMES Goldman retreats from bond platform Goldman Sachs has retreated from its electronic bond trading platform, in a move that highlights the challenges investment banks face in revamping their struggling fixed-income trading businesses. Banks including Goldman, Morgan Stanley and UBS had developed their own electronic corporate bond trading platforms in an effort to more efficiently [...]
Strong Chinese loans prop up Asian markets February 17, 2014 A MAJOR boost to Chinese lending in January buoyed Asian markets yesterday, even following Japan’s disappointing fourth quarter GDP data. The Peoples’ Bank of China announced that 1.32 trillion yuan (£128.36bn) was distributed in new loans during January, the highest in over nearly four years, easily beating more bearish forecasts. The news follows better than [...]
Europe has reached a turning point – we now need to rescue it from the EU February 17, 2014 THE COMING European Parliament elections could be a turning point: our moment to save Europe from the EU. But for that to happen, Europeans must realise the real future they face under the current system, and the risks involved in underestimating Brussels. I have been interested in politics since I was a kid, and that [...]
What you need to know before the US open – 17/02 February 17, 2014 The dollar’s dropped to six-week lows today, in the wake of weaker-than-expected US data. The fall in January manufacturing output, out last Friday, has seen some investors re-assess their expectations for the speed at which the Fed will taper. It edged up against the yen after data showed the Japanese economy grew just 0.3 per [...]
This week’s 4 must-see charts February 14, 2014 The gaping chasm between Mark Carney’s messaging and market expectations of future rate hikes, suspicious Chinese statistics, the sudden devaluation of Kazakhstan's tenge, and Janet Yellen's labour market worries. We bring you some of our favourite analyst’s picks of the most important graphs this week, as well as a choice of our own. Jeremy Cook, [...]
What the other papers say this morning – 14 February 2014 February 13, 2014 FINANCIAL TIMES Apple to cut use of ‘conflict minerals’ Apple is extending its supply chain clean up beyond Chinese factories and into African mines, using name-and-shame tactics to cut the amount of “conflict minerals” that end up in its iPhones and iPads. As it touts fresh improvements to working conditions in the factories that produce [...]
Tate & Lyle cuts profit forecast after price war February 13, 2014 SHARES in Tate & Lyle plummeted by 16 per cent yesterday after the food ingredients group cut its full-year profit forecasts and warned that its Splenda sweetener faced intense competition from generic rivals. The company said it expected prices for sucralose – the main ingredient of its Splenda sweetener – to be around 15 per [...]
Tate and Lyle’s cut outlook sends shares crashing 17pc February 13, 2014 Tate and Lyle has scaled back its financial outlook for 2014, sending shares tumbling almost 17 per cent. Like Rolls Royce, the sweetener and ingredients supplier has said that it expects no profit growth this financial year, as growth seen in emerging markets was offset by “softness in developed ones”. Last financial year, adjusted profit was [...]
London Report: FTSE spurred to three-week high by Chinese data February 12, 2014 THE UK’S top share index reached a three-week closing high yesterday, buoyed by miners, after top metals consumer China reported robust trade data. Mining companies are recovering from a sharp decline in 2013, after a sector-wide drive to offset falling metals demand with cuts in spending. They got a boost yesterday from the fresh evidence [...]
New York Report: Wall St ticks up as US investors turn positive February 12, 2014 World stock markets edged up for a sixth straight session on Wednesday after upbeat trade data from China soothed worries about slower global growth, while the pound rose to a two-week high against the dollar. The Dow and S&P 500 closed down slightly, however, snapping four days of gains after Procter & Gamble, the world’s [...]