Failed stress test hits RBS’ chances of fast Citizens sale March 27, 2014 RBS’ shares fell this morning after its US arm Citizens failed a Fed stress test, knocking the bank’s chances of a quick sale to another lender. Although the main plan is to float the bank, it has been in early-stage talks with other banks including Japan’s Sumitomo Mitsui over a trade sale. But failing the [...]
Fed blow to Citi as five banks fail stress tests March 26, 2014 THE FEDERAL Reserve last night rejected plans by Citigroup and the US subsidiaries of HSBC, Royal Bank of Scotland and Santander to buy back shares or raise dividends. The Fed said that there were “qualitative concerns” over the five US banks’ capital plans, warning they would not allow them to survive in the event of [...]
What you need to know before the US open March 26, 2014 US markets are expected to open up today, with stock futures up and eyes on Facebook shares, following its announcement that its acquired Oculus for $2bn in cash and stock. There’s also some recent economic data to chew over. Figures out on durable goods orders show orders rose 2.2 per cent in February – lifted [...]
US consumer confidence jumps to January 2008 high March 25, 2014 Good economic spirits returning in the US. Consumer confidence has surged to 82.3, from 78.3 prior. Last month's figure was itself revised up, from 78.1. Analysts had predicted a smaller rise, to just 78.6 this month. Simultaneously housing data revealed that new home sales fell by 3.3 per cent in February, less than the 4.9 [...]
How the big three central banks are dealing with falling inflation March 25, 2014 The last few months have seen inflation trend downwards in the Eurozone, US, and UK. Today's news that UK inflation has fallen to a 52-month low has stirred concerns among some quarters that central banks aren't reacting to falling price pressures. The latest Office for National Statistics data shows inflation falling to 1.7 per cent [...]
DailyFX Tips & Picks: Analyst’s pick March 24, 2014 CURRENCY STRATEGIST CHRIS VECCHIO My pick: Out of euro long, looking short post-FOMC meeting Expertise: Fundamental and technical analysis Average time frame of trades: A few hours to a few weeks A more hawkish Federal Open Market Committee (thanks to Fed chair Janet Yellen’s hint that the first rate hike could come around six months [...]
Luxurious way to curry favour March 24, 2014 City chef John Woodward tells Melissa York why lobster is the real food of love I‘VE WORKED in a lot of hotel restaurants in my time, but Strip Bar & Steak at the Malmaison Hotel, is more like a restaurant with rooms than a hotel with a restaurant. You don’t get all the politics you [...]
What you need to know before the US open March 24, 2014 US stock futures have crept higher today, on speculation that the continuing weak Chinese data – this time in the form of manufacturing numbers – will prompt the government to introduce further stimulus to help deal with the slowdown. Friday saw the S&P 500 hit an intraday record, though it closed lower. European markets are [...]
Wall St The Week Ahead: Federal Reserve chair Yellen in investors’ focus March 24, 2014 FOR US stock investors, the main event will be Federal Reserve Chair Janet Yellen’s return trip this week to Capitol Hill. Wall Street will hang on her every word about the weather, of all things, when she goes before the Senate Banking Committee to complete her semi-annual testimony about monetary policy. Yellen will speak to [...]
4 reasons now is the right time to get excited about gold March 21, 2014 With last year's 28 per cent price crash – suffering its sharpest fall in 30 years – it wasn’t just gold bugs and mining companies who have had to endure gold’s bumpy road, as its crashing popularity signalled a shift in economic confidence, upping the favour of paperless assets. This year, things have started to [...]