ASIAN SURGE DEPENDS ON US RECOVERY July 19, 2009 JANE FOLEY RESEARCH DIRECTOR, FOREX.COM STRONG earnings reports from both Goldman Sachs and Intel and an improvement in some economic data releases last week partially cleared the cloud of economic gloom that has been hanging over the global recovery. The particularly strong gains in Asia finally added some substance to the belief that the global [...]
Darling gives FSA power to rein in the activity of City firms July 8, 2009 THE FINANCIAL Services Authority (FSA) will share formal responsibility for financial stability with the Bank of England, under a raft of measures included in chancellor Alistair Darling’s white paper on financial regulation. The chancellor rejected Conservative calls for the Bank of England to be given primary responsibility for monitoring dangers to the economy, instead opting [...]
Darling gives FSA power to rein in the activity of City firms July 8, 2009 THE FINANCIAL Services Authority (FSA) will share formal responsibility for financial stability with the Bank of England, under a raft of measures included in chancellor Alistair Darling’s white paper on financial regulation. The chancellor rejected Conservative calls for the Bank of England to be given primary responsibility for monitoring dangers to the economy, instead opting [...]
CVC trumps TNT as Royal Mail bidder May 31, 2009 CVC PARTNERS, the private equity group, has offered to pay around £2bn for a 30 per cent stake in Royal Mail, it emerged yesterday, as the controversial bid to part privatise the franchise nudges ahead. The group’s offer beats a bid from rival logistics group TNT, but is less than the government has hoped to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 25, 2009 FINANCIAL TIMES OPINIONS SHIFT TOWARDS LONGER WORKING LIVESA majority of Britons now favour longer working lives if it means a more generous pension in retirement, a significant shift of opinion in the few years since the subject was raised by the Pensions Commission report in 2005. A Financial Times/Harris survey of 1,126 adults in Britain [...]
History tells us that indices have further upside to come June 22, 2009 FOLLOWING a three-month rally in global equities, stock market indices have eased off as investors face the prospect of a slow and protracted recovery and question whether a correction – of some magnitude, at least – is now overdue. Given the sharp rise in equity prices since March, many investors are now wondering what is [...]
US falls on gloomy stats and Best Buy June 16, 2009 US stocks slipped yesterday as mixed economic data and disappointing sales figures from giant electronics retailer Best Buy spurred worries about an anemic recovery. After a three-month run that lifted the S&P 500 as much as 40 per cent from 12-year lows, analysts said the economy needs to start showing real improvement to support optimism [...]
US falls on gloomy stats and Best Buy June 16, 2009 US stocks slipped yesterday as mixed economic data and disappointing sales figures from giant electronics retailer Best Buy spurred worries about an anemic recovery. After a three-month run that lifted the S&P 500 as much as 40 per cent from 12-year lows, analysts said the economy needs to start showing real improvement to support optimism [...]
INFLATION FEARS STILL ON THE CARDS July 5, 2009 JANE FOLEYRESEARCH DIRECTOR, FOREX.COMLAST week brought confirmation that prices actually fell in the Eurozone in June. The consumer prices index (CPI) fell 0.1 per cent year-on-year, in sharp contrast to the European Central Bank’s (ECB) mandate which directs it to keep inflation at, or a little below, 2.0 per cent year-on-year. The complete absence of [...]
A catastrophe made in Downing Street May 21, 2009 WE are moving ever closer to the day of reckoning. As if another set of dreadful public finance figures yesterday wasn’t enough, the markets were also rattled by S&P’s decision to cut the outlook for the UK’s sovereign credit rating from stable to negative. Years of fiscal profligacy during the boom years are finally catching [...]