Don’t blame the Depression on the gold standard – but don’t expect it back either February 27, 2012 TWO of America’s Republican candidates – Newt Gingrich and Ron Paul – have dared to toy with the idea of bringing back the gold standard. Their remarks have in turn triggered a fusillade of indignant replies, from pundits and professional economists alike, the general theme of which is that no one fit to be America’s [...]
THE WEEK AHEAD February 26, 2012 Today A diverse group of FTSE 100 reporters will kick off a busy week in the corporate calendar this morning, with banking giant HSBC likely to be top of many investors’ watch list. Analysts are expecting the bank’s geographical diversity to offset any potential weakness in it investment banking division, with profits expected to hit [...]
Manufacturing data boosts US February 23, 2012 MANUFACTURING output expanded strongly in the US Midwest this month, and the number of new unemployment claimants stayed at a four-year low last week, data showed yesterday. The Kansas Fed’s manufacturing index rose to 13, up from seven in January. The survey’s production index stayed strong at 20, while the employment component rose from nine [...]
No longer just rate-setters: how top Bank officials are set to take control February 23, 2012 IN an almost austere office, buried in one of the less glamorous corners of the Bank of England, Paul Fisher performs his tasks as the Bank’s executive director of markets. The room suits Fisher, a mild mannered central banker with a PhD in macroeconomic modelling. Yet the modest surroundings are not what one expects for [...]
Economic activity kept on rising through January in US and Japan February 21, 2012 ECONOMIC activity stayed above its trend rate in January, according to the Chicago Fed’s activity index published yesterday. Though the index fell to 0.22 from 0.54 in December, it continued to point to economic growth, with the three-month moving average rising from 0.06 to 0.14. Any figure below zero indicates below-trend growth. Employment growth appeared [...]
TNT silent over UPS bid as losses mount February 21, 2012 SHARES in Dutch delivery firm TNT Express fell by almost three per cent yesterday after it said it was planning to curb its international expansion plans in the wake of a net loss of €173m (£145m) for the fourth quarter. Despite pushing for a higher price from potential suitor UPS – whose €9 per share [...]
FTSE Flat as Greek bailout gets the nod February 21, 2012 THE FTSE 100 was broadly flat this morning as Eurozone leaders agreed a second bailout for Greece after weeks of tortuous negotiations. Investors overall were encouraged by the move but there were still fears that the €130bn lifeline was only a short term fix for Greece which is drowning in debt. The deal was largely [...]
TNT shares jump 60pc as sale talks with UPS heat up February 20, 2012 INVESTORS in Dutch freight and delivery firm TNT Express are pressing for a higher offer from US-based United Parcel Services, driving shares up more than 60 per cent to an all-time high yesterday. TNT said on Friday it had rejected an offer from UPS, the world’s largest package delivery company, of €9 per share which [...]
Why not to position for a gold crash February 20, 2012 GOLD has traded in a channel for the last month, but despite this, it remains at a price nigh on unimaginable 18 months ago. “Although the last month has been a quiet one for the price of gold, the metal is still up by around 10 per cent for the year and is still almost [...]
WHAT THE OTHER PAPERS SAY THIS MORNING February 15, 2012 FINANCIAL TIMES FOREIGN OFFICE PLANS £240M WORTH OF PROPERTY SALES The Foreign Office has drawn up plans to sell hundreds of embassies and homes worth nearly a quarter of a billion pounds as it increases its presence in fast-growing countries such as China and Brazil. The Foreign Office has hired property agents CBRE and DTZ [...]