The ECB’s new press chief just killed the Draghi tie guesses game May 8, 2014 It's that Thursday of the month again, and finance Twitter is getting ready for the big event. Many would traditionally have spent the morning making their forecasts. Not on the subject of European Central Bank policy (their monthly decision is out at 12.00pm), but on what colour tie President Mario Draghi would be wearing at [...]
Why ECB pressers are suffering a bout of word “inflation” May 8, 2014 The European Central Bank is still ignoring the elephant in the room. We've got a policy decision and presser coming up from the central bank this afternoon, but analysts aren't exciting anything too exciting at either event. Yet Robert Kuenzel of Daiwa Capital Markets Europe says that the ECB "clearly understands that it is already [...]
Bank of England inaction threatens house price bubble, warns analyst May 8, 2014 April saw a rare fall in house prices, according to the latest data from Halifax. They dropped by 0.2 per cent, a small monthly decline. But on an annual basis, UK house prices are now up by 8.5 per cent in the three months to April. House prices are driven by supply and demand, and [...]
Could you be more proficient than any of the Co-op’s regional directors? May 7, 2014 If there's a thread flowing through the Co-op Bank's problems – it's one of a skills deficiency. Much of the bank's senior management seems to have shown an appalling lack of basic experience. Speaking to the Treasury Select Committee today, Lord Paul Myners flags a neat example of this extensive failure. While on the Co-op [...]
BoAML: Why US growth is about to lift the global economy May 7, 2014 Imports of as a share of US GDP have been falling since 2011, but renewed momentum across the Atlantic could still buoy global growth, according to a new BoAML Global Research report. BoAML's Emanuella Enenajor believes that imports have been rising at a slower pace than GDP for two reasons. (1) Energy imports have declined [...]
In Pictures: Cabbies cause carnage at Shard demo May 6, 2014 London's cabbies are blocking off access to the Shard, in protest at the lack of a suitable taxi rank. Drivers are there to mark the opening of a new hotel – the Shangri-La – at the building. Unite's cab section has said that the demonstration is in response to Transport for London's refusal to erect [...]
Introducing Bitcologne: The world’s first cryptocurrency themed fragrance May 6, 2014 A whiff of something fresh in the cryptocurrency space. Eruditium has launched a new company – Bitcologne – as the vessel for the world's first Bitcoin-themed cologne. The fragrance is "bold" and "goes against the traditional model of more commercial fragrances." "You won't get gimmicky, small, over-compensating-ly flashy or over-priced bottles of cologne," says the [...]
Huge jobs beat: US unemployment falls to September 2008 low May 2, 2014 The US economy saw 288,000 jobs added in the month of April. A huge beat. Analysts had expected to see 215,000 job additions, on a seasonally adjusted basis. The headline unemployment rate has plummeted from 6.7 per cent to 6.3 per cent. Its lowest level since September 2008. Of the 104 economists polled by Reuters, [...]
Six songs that tell the story of Pfizer’s courtship of AstraZeneca May 2, 2014 Earlier today, Astrazeneca officially rejected a second takeover approach from US rival Pfizer, saying the new terms of the £50 per share offer were "inadequate, substantially undervalue AstraZeneca and are not a basis on which to engage with Pfizer". In honour of the increasingly complex relationship between the two pharma giants, we've compiled a [...]
This week’s 4 must-see charts May 2, 2014 What bond yields are really telling us, the halfway point in Eurozone austerity, China's not-so-great economy, and the new merger and acquisition frenzy. We bring you some of our favourite analysts' picks of the most important graphs this week. Jeremy Cook, chief economist at World First Deflation has continued to [...]