Eurozone inflation unexpectedly turns negative in September September 30, 2015 Large falls in energy prices pushed the Eurozone back into deflation for the first time in six months, according to an initial estimate from the official statistics agency. Consumer prices across the single currency bloc fell to minus 0.1 per cent in September, more than economists expected, and down from plus 0.1 per cent a [...]
Eurozone inflation beats expectations rising 0.3 per cent in May September 10, 2015 Eurozone prices rose for the first time in six months in May – ending a series of disappointing readings which had suggested the euro area risked falling into a damaging deflationary spiral. A flash estimate by the bloc's official statistics agency said euro area inflation was 0.3 per cent in May, beating analysts' estimates, and up from [...]
UK wage growth slows as unemployment rises again September 9, 2015 Sterling fell to a one month low against the euro after data showed Britain's bumper wage growth has slowed, as unemployment rose again. Annual average weekly wages, including bonuses, rose 2.4 per cent in the three months to June, according to data released today by the Office for National Statistics. That's down from the 3.2 per [...]
City Moves for 01 September 2015 | Who’s switching jobs August 31, 2015 KPMG Stan Chaudhry has been appointed director in the professional services firm’s UK investment management team. He joins from Brook Bay Capital, where he was chief operating officer. Chaudhry has also held senior operational and finance roles at Thames River Capital. Penna Consulting The human resources consulting firm has appointed Penny de Valk as an [...]
UK GDP second estimate: UK exports jump as GDP growth stays flat August 28, 2015 A sharp upward revision to US second-quarter GDP yesterday sent markets around the world higher. Alas, data out of the UK was a little more muted. Official statistics released today confirmed Britain's economy grew 0.7 per cent in the second quarter of this year. However, economists said that the underlying data shows some rebalancing in the [...]
Looming bank tax fails to dampen spirits at OneSavings Bank August 27, 2015 Specialist lender OneSavings Bank yesterday announced a 60 per cent increase in profit in the six months to 30 June, and said it remains confident that it will continue to “exceed financial objectives” in 2016 despite the new UK bank corporation tax. The challenger bank reported an underlying profit before tax of £47.6m, exceeding forecasts [...]
Rouble, ringgit and won: Emerging market currencies are getting hammered August 23, 2015 Emerging market currencies continued to slide today, amid growing anxiety over China's slowing economy. The selloff accelerated after a purchasing managers survey released early this morning showed China's factories contracted at the fastest rate in almost six-and-a-half-years in August. Malaysia's ringgit fell nearly one per cent against the dollar, while South Korea’s won shed 0.8 [...]
Pound jumps on shock rebound in core inflation August 18, 2015 THE POUND hit a seven-week high against the dollar yesterday as investors reacted to a higher-than-expected inflation figure. Official data showed the consumer price index (CPI) – which gauges the price of a typical basket of goods and services – rose 0.1 per cent in the year to July, from zero a month earlier. While [...]
Sun Tzu and the art of currency war – CNBC Comment August 18, 2015 WITH talk of currency wars gathering steam, aided by the Chinese government’s devaluation of the yuan last week, it’s difficult to know which ancient Chinese philosopher to turn to. Sun Tzu’s words from The Art of War – “the supreme art of war is to subdue the enemy without fighting” – may come to mind. [...]
H&M July sales beat expectations August 18, 2015 SWEDISH fashion giant H&M posted a better-than-expected rise in sales last month, thanks to improvements to its website and after broadening its home and beauty ranges. The world’s second-biggest clothing retailer said sales in local currencies rose by 16 per cent in July, compared with the same time last year, beating expectations. Analysts on average [...]