Rally in transport stocks lifts hopes July 6, 2011 TRANSPORTATION stocks were among the standouts in another flat session for US equities yesterday, and the sector’s rally could be cause for optimism ahead. However, the Nasdaq rose for its seventh straight day, extending its rally to 6.8 per cent. The Dow Jones Transportation Average rose 1.2 per cent and hit a new closing high [...]
From zero to bestseller July 6, 2011 SANCTUS was an instant hit when it came out in April. Waterstones shopfronts were full of it, it quickly climbed the bestseller list and the author is tipped as the next (but much more talented) Dan Brown. Yet before he wrote Sanctus – which is the first in a trilogy commissioned by Harper Collins – [...]
Britain cannot devalue itself into prosperity July 5, 2011 STERLING rallied yesterday following the release of PMI services index figures for June coming in at 53.9 – higher than the 53.5 widely expected. Michael van Dulken of Accendo Markets explains that sterling-dollar moved up from $1.602 to $1.6048 on the PMI services news, then carried on to a day high of $1.628 by mid-morning. [...]
Muted market reaction to the ending of QE2 July 5, 2011 AFTER months of speculation surrounding the end of the Federal Reserve’s second round of quantitative easing (QE2), Fed chairman Ben Bernanke finally announced a fortnight ago that the US central bank’s program of buying Treasuries on a massive scale was going to draw to a close. But, despite the forex markets being overshadowed by the [...]
The Exeter incinerator plant July 4, 2011 Q.WHERE DOES THE WASTE COME FROM? A.The plant will collect residual household rubbish, which is left over after recycling has taken place in the Exeter and East Devon area. Q.HOW IS THE RUBBISH PROCESSED? A.The waste goes into a bunker where it is then fed into a combustion chamber. An oscillating kiln, heated at 850 [...]
AT HALF-TIME GOLD NEEDS A PEP TALK July 4, 2011 THE first half of the year came to a close last Thursday. Events in the final few days of June helped to lift equity markets and temper earlier losses. The FTSE 100 ended the month virtually unchanged, while the Dax finished in positive territory rallying over 5 per cent from its low-point. In the US, [...]
The man with a passion for promoting maths June 28, 2011 IT might not be the most fashionable cause in the world, but Mathematics in Education and Industry (MEI) is a charity with a proven track record. When Charlie Stripp, its chief executive, quit his teaching job in 2000 to join the charity, the death-knell had already been sounded for A-Level further maths. In 2003 just 5039 English [...]
THE TIPSTER June 28, 2011 STERLING fell to five month lows against the dollar yesterday, as fresh concerns over the European debt crisis saw investors flock to traditional safe-haven currencies, such as the greenback and Swiss franc. Spreadex offers $1.5921-$1.5924 sterling-dollar. Is the par(i)ty coming to an end for the Aussie dollar? After a meteoric rise fuelled largely by massive [...]
Texan factory activity slows June 27, 2011 Manufacturing activity has slowed down dramatically in Texas this month, official data showed yesterday. The Dallas Fed index slumped to 5.6 from 12.7, reflecting a marked slowdown in growth.
FED OFFICIAL: TAX SYSTEM ENCOURAGES DEBT June 27, 2011 THE US tax code is guilty of incentivising excessive mortgage borrowing for individuals and debt leverage at corporations, senior Federal Reserve official Narayana Kocherlakota said yesterday. The sudden drop in US land prices may not have set off the recent financial crisis had households and business not been weighed down with so much debt, he [...]