US jobless data fuels fears over economy May 17, 2012 US MANUFACTURING output fell unexpectedly in May while recent falls in unemployment ground to a halt last week, official data showed yesterday, adding to worries of an economic slowdown. Meanwhile Treasury secretary Tim Geithner said the country should avoid “severe, immediate austerity” if it wants to keep growing. Geithner called for a “balanced approach to [...]
Fed to stick with current policy May 16, 2012 Several Federal Reserve policymakers last month thought the US central bank might need to do more to prop up the economy if the recovery stumbles, but there was almost no support for extending its so called Operation Twist programme, due to end in June. Minutes of the Fed’s most recent policy-setting meeting, released last night, [...]
US booms with strong utilities May 16, 2012 US industrial production posted its fastest growth in over a year last month, official figures showed yesterday, boosted by surging output at utilities and a rebound in manufacturing. Output grew 1.1 per cent in April, the Federal Reserve revealed, the most since December 2010 and more than twice the 0.4 per cent forecast by economists. [...]
Euro fears see fourth day of falls on the S&P May 16, 2012 US stocks closed lower in a choppy session yesterday, with the S&P 500 logging its fourth straight decline as investors worried about Greece’s future as a member of the Eurozone. Early US gains were erased after the European Central Bank said it had stopped providing liquidity to some Greek banks that had not been recapitalised. [...]
Fed vote likely to happen Thursday May 15, 2012 President Barack Obama’s two stalled nominees for the Federal Reserve are likely to clear a Senate procedural hurdle tomorrow, paving the way for anticipated confirmation, the chamber’s leaders said yesterday. Democratic and Republican aides said they expect Senate approval of the pair as early as Thursday, shortly after the procedural vote, which would take the [...]
RISK ASSETS SAG WITH CENTRAL BANKS ON HOLD May 14, 2012 FX360 INVESTOR sentiment has turned less bullish over the last couple of months, with a marked pull-back in risk assets since the beginning of May. This contrasts with the sharp rally in major global stock indices, precious metals and oil that ran throughout the first quarter of this year. The current sell-off followed the news [...]
The Empress takes a sow’s ear and ends up with a silk purse May 14, 2012 RESTAURANT THE EMPRESS 130 Lauriston Road, Hackney, E9 7LH FOOD **** SERVICE *** ATMOSPHERE *** Cost per person without wine: £25 Somewhere along the line, gentrification became a contentious topic. It tends to mean rapidly climbing property prices and lots of nice new coffee shops filled with prams that smell of Ribena and baby vomit. [...]
WALL STREET WEEK AHEAD May 13, 2012 MORE volatility could be in store for US stocks this week as investors grapple with less certainty about the US economic outlook and a new blow to the financial sector after JP Morgan Chase’s trading loss. Europe is expected to keep investors jumpy as well, with inconclusive results from the recent Greek election and the [...]
BERNANKE: BANKING SYSTEM ON THE UP May 10, 2012 THE US banking system has made substantial progress toward becoming healthier since the financial crisis, Fed boss Ben Bernanke said yesterday. However, he warned there were still problems in some areas, noting “many factors suggest that this situation will be difficult to turn around quickly, including the slow recovery of the housing market.”
WHAT THE OTHER PAPERS SAY THIS MORNING May 9, 2012 FINANCIAL TIMES CRH to build on stake in China CRH blamed bad weather in Europe in the first quarter and volatility caused by the Eurozone debt crisis for reduced earnings in the first four months of the year in spite of a stronger recovery in the US market than expected. The Irish building materials group said [...]