FedEx expects record shipments October 24, 2011 E-commerce will drive record holiday shipments this year for FedEx Corp, the world’s second-biggest package delivery company said yesterday. FedEx expects to deliver more than 260m packages globally between Thanksgiving on 24 November and Christmas, up 12 per cent from a year earlier. FedEx said it will add about 20,000 seasonal workers to help handle [...]
Chicago Fed index up in September October 24, 2011 THE FEDERAL Reserve Bank of Chicago said yesterday that the National Activity Index, which gauges the health of the US economy, rebounded from last month, yet continues to show the economy growing at a below average pace. The headline index compiled by the bank rose to -0.22 in September after being revised down to -0.59 [...]
Miners lead FTSE up after China boost October 24, 2011 Markets have risen this morning triggered by hopes that a deal to resolve the Eurozone debt crisis can be put together while manufacturing data showed China’s growth is picking up. Although a weekend summit of Eurozone leaders was inconclusive with bickering clouding the talks. The skeleton of a deal was agreed with a summit to [...]
ROTHSCHILD GIVES STAFF ITS TURKEY OF A BONUS October 23, 2011 EVERY little helps, as the Tesco slogan goes. So the price-conscious supermarket giant will be pleased to learn that the competitively remunerated London employees of Rothschild receive daily luncheon vouchers for the sum of £3 that can be refunded in any of its stores. But Rothschild’s solicitous attempts to ensure its workforce is well fed [...]
US sees gains in factory output and jobs data October 20, 2011 US factory output across the mid-Atlantic region climbed in October after a poor showing in September, new data shows, while the number of people claiming unemployment benefit has fallen in the past week. The heartening data is helping to build a picture of a higher economic activity as the US fights to avoid another recession. [...]
Episode 32: Sleepless in the City – a day in the life with baby twins October 18, 2011 00.00 Gabriella doesn’t “do” nights. Seems it’s an opportunity for babies and parents to bond. So one day ends and another begins with Emma and me feeding the twins. 01.45 Ditto – after an hour’s sleep. 02.15 Harry has colic. I pace the darkened bedroom with him wailing into my shoulder. Emma sleeps soundly. 03.15 [...]
LOOKING FOR SIGNS OF HOPE October 16, 2011 THE Eurozone is in dire need of a quick capital injection, perhaps €2 trillion, says economist Nouriel Roubini. Roubini is not the only economist alarmed by the Eurozone’s banking system. Even outgoing ECB head Jean-Claude Trichet said recently that the systemic crisis must be decisively tackled, as the interconnectedness threatens the Eurozone’s financial stability, and [...]
Rajaratnam sentenced to 11 years in prison October 13, 2011 Raj Rajaratnam, the US former hedge fund tycoon at the centre of the biggest Wall Street insider trading case in decades, has been sentenced to 11 years in prison in one of the most severe sentences of its kind. Rajaratnam, 54, founder of the Galleon Group hedge fund that reached $7bn (£4.5bn) at its peak, [...]
QE3 is still on the table, Fed minutes show October 12, 2011 A CONTROVERSIAL third phase of quantitative easing could still be on the cards in the US, it emerged last night. Two of the Fed’s 10-person committee “said that current conditions and the outlook could justify stronger policy action” than the central bank’s Operation Twist, the minutes to its September meeting revealed. Operation Twist – which [...]
Pimco beefs up exposure to mortgages October 12, 2011 THE PIMCO Total Return Fund, the world’s largest bond fund, increased its exposure to mortgages in September and showed a dramatic drop in cash equivalents and money market securities for the same period, according to its website yesterday. Pacific Investment Management Co, which has $1.3 trillion in assets under management, increased exposure to mortgages in [...]