US markets slip as Obama warns no immediate end to shutdown October 8, 2013 US MARKETS slipped yesterday as President Obama warned that there is no instant solution to the budget stand-off that has forced the US government into shutdown mode. Obama said Republican opponents in Congress are making it impossible to discuss raising the country’s debt ceiling because they were demanding too many concessions, including a delay to his flagship healthcare [...]
Investment Comment: Emerging markets: A risky bargain October 8, 2013 Despite cheap valuations, investors must exercise extreme caution EMERGING market equities have underperformed developed markets for three years in a row. This year has been particularly volatile for the former, with concerns over the deceleration of the Chinese economy and the growing realisation that a wind-down in quantitative easing (QE) by the US Federal Reserve [...]
Saxo Bank warns of global slowdown in fourth quarter October 8, 2013 Analysts as Saxo Bank predict that despite central bank interventions, we won't see a sustainable comeback for growth until policymarkets stop supporting "the parts of the economy that don't need or deserve support". Instead, they recommend that support for "the most important engine of job and economic growth" is the focus, namely small and medium-sized [...]
Mark Carney: A report card on the governor’s first 100 days in office October 7, 2013 NAPOLEON said that he wanted lucky generals. He would have made Bank of England governor Mark Carney, who will reach 100 days in office this week, Field Marshall. Since July, UK economic data has been exceptionally good. The economy probably expanded 1 per cent in the third quarter, likely the fastest rate in the developed [...]
CNBC Comment: Fresh concerns for America’s housing market October 7, 2013 BEN Bernanke and the US Federal Reserve have done all that mere mortals can do to repair the housing market post-financial crisis, but despite tarting up the mortgage industry like Cinderella for the ball, buyers are not jumping into the golden carriage to attend the best party ever staged. How can this be, when house [...]
New York Report: US stocks face turbulence on debt dispute October 6, 2013 US stocks are likely to face another week of rising turbulence as efforts to settle the budget dispute in Washington drag on, leaving investors worried about the more critical issue of raising the US debt ceiling. The budget impasse has led to a partial US government shutdown for nearly a week, already longer than many [...]
Why our loose networks of entrepreneurs need to find a collective voice October 6, 2013 A CHASM has opened up, with entrepreneurs on one side and politicians and the public on the other. It may not be an obvious division, but it is damaging nonetheless. And it is why I’m launching a new think tank today, The Entrepreneurs Network, with support from the Adam Smith Institute. It’s time to amplify [...]
Fed’s Fisher says no-one has confidence in the government but there won’t be a default October 4, 2013 The Federal Reserve's Richard Fisher has said that uncertainty over the shutdown of the US federal government has put business in a defensive crouch, as no-one has confidence in the federal government, and that the US is a country in denial. Shutdown of several functions of the Federal government has now lasted for four days [...]
Analysts bullish on gold in wake of US government shutdown October 4, 2013 A Bloomberg survey of 30 analysts showed 18 expected gold prices to rise next week, eight expected a fall and four were neutral. The shutdown of the US federal government and political battles over the debt-ceiling are expected to drive investors towards the precious metal. After a long decline, bullion gained 7.6 per cent in [...]
CITY MOVES | WHO’S SWITCHING JOBS October 4, 2013 Avanti Communications Group Paul Walsh, chief executive of Diageo, has joined the board of satellite data company Avanti Communications as a non-executive director. He is also a non-executive director of FedEx Corporation and Unilever. Prior to joining Diageo, Walsh held financial and commercial positions with InterContinental Hotels and in the GrandMet food business, becoming CEO [...]