Business growth in China and across Europe slowed this month, surveys showed on Thursday, providing more evidence that the world economy is stuttering and may need more monetary stimulus to keep it going. Euro zone private business activity expanded slower than expected in August, despite widesp…
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Business growth slows in China and Europe, Russia sanctions still to bite
With less than a month to go until Scotland votes on independence, nationalists are seeking to broaden the debate away from a difficult focus on what currency would be used after breaking from the United Kingdom. Health care and other social issues such as justice and equality are likely to get a…
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Scottish nationalists look to broaden independence debate beyond currency
The Justice Department is poised to announce a $16.65 billion settlement with Bank of America over accusations that it duped investors into buying troubled mortgage securities, say people briefed on the matter — the single largest government settlement by a company in American history. Yet even a…
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Bank of America Expected to Settle Huge Mortgage Case for $16.65 Billion
The Justice Department is poised to announce a $16.65 billion settlement with Bank of America over accusations that it duped investors into buying troubled mortgage securities, say people briefed on the matter — the single largest government settlement by a company in American history. Yet even a…
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Bank of America Expected to Settle Huge Mortgage Case for $16.65 Billion
Investors should not get too comfortable in the belief that Federal Reserve interest rate hikes are a long way off, said Esther George, president of the Kansas City Fed, which hosts the central bank’s annual monetary summit in Jackson Hole, Wyoming. There’s a lot of complacency right now, and if …
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Fed’s George: broad based jobs gains signal rates can rise
Investors should not get too comfortable in the belief that Federal Reserve interest rate hikes are a long way off, said Esther George, president of the Kansas City Fed, which hosts the central bank’s annual monetary summit in Jackson Hole, Wyoming. There’s a lot of complacency right now, and if …
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Fed’s George: broad based jobs gains signal rates can rise
There’s chatter in the market that Jackson Hole, beginning today, could be a currency event, another type of Plaza accord. Up until now, the market had been solely on the lookout for any hawkish comments from Fed Chair Janet Yellen presentation at the Economic Symposium tomorrow to gauge timing of a…
There’s chatter in the market that Jackson Hole, beginning today, could be a currency event, another type of Plaza accord. Up until now, the market had been solely on the lookout for any hawkish comments from Fed Chair Janet Yellen presentation at the Economic Symposium tomorrow to gauge timing of a…
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Is Jackson Hole To Be A Currency Event?
Mark Carney has come through his first public argument on interest rates with enough scope to contain dissent for now. While policy makers Martin Weale and Ian McCafferty voted for an increase this month, the gulf between their thinking and that of the governor’s seven-strong majority suggests h…
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Carney Seen Holding Sway as BOE Dissenters Stray From Pack
Mark Carney has come through his first public argument on interest rates with enough scope to contain dissent for now. While policy makers Martin Weale and Ian McCafferty voted for an increase this month, the gulf between their thinking and that of the governor’s seven-strong majority suggests h…
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Carney Seen Holding Sway as BOE Dissenters Stray From Pack
Angela Merkel has delivered a sharp rebuke to Italy and France for hindering the eurozone’s recovery by breaking longstanding fiscal rules. The German chancellor, under pressure following a fall in GDP in the second quarter, said faltering growth was the direct result of the 18-member currency zo…
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Angela Merkel scolds Italy and France over the faltering eurozone recovery
Hawkish central bank meeting minutes from both the Bank of England and then the Federal Reserve suggest that there is serious debate amongst the two committees over potential rate tightening. However there is certainly not enough at this stage to suggest that there will be any imminent rise. Members…
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Dollar strength driving key break on USD/JPY and Gold but can they hold?
British retail sales grew in July at a weaker pace than expected, according to official data on Thursday. Separate government finances data showed an unexpected deficit in July for the second year running, continuing the weak start to this tax year and leaving the government more catching up to d…
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UK retail sales growth weakens in July
•Public sector net borrowing excluding financial interventions (PSNB ex) was in deficit by £0.2 billion in July 2014, £0.8 billion lower than July 2013. This year and last year include payments of £0.5 billion from the Bank of England Asset Purchase Facility Fund (APF). …
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UK Public Sector Finances, July 2014
•In July 2014, the quantity bought in the retail industry increased by 2.6% compared with July 2013 and by 0.1% compared with June 2014. …
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UK Retail Sales, July 2014
Euro zone private business growth slowed more than expected in August, despite widespread price cutting, as manufacturing and service industry activity both dwindled, a survey showed on Thursday. Euro zone economic growth ground to a halt in the second quarter, dragged down by a shrinking economy…
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Euro zone business growth slows in August, prices fall-PMI
German services and manufacturing activity slowed less than analysts forecast in August, signaling that Europe’s largest economy can withstand risks from tensions with Russia to stagnation in the euro area. The preliminary reading of a Purchasing Managers Index for the two industries fell to 54….
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German PMI Signals Economy Withstanding Increased Risks
The gap between Hong Kong’s rich and the rest of the population is widening as surging asset prices shield the wealthy from an economic contraction. The CHART OF THE DAY shows gauges of stock and home prices in the city have more than doubled since 2008 to record highs. While the median househol…
The seasonally adjusted Markit Flash Germany Composite Output Index fell from July’s 55.7 to 54.9 in August, signalling a strong, albeit weaker , expansion in German private sector output . Increased new work remained the main driver behind higher activity, according to panellists. The c…
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German Output growth slows slightly as manufacturing loses momentum
The latest flash PMI data signalled that French private sector output stabilised in August. This ended a three – month period of contraction. After accounting for seasonal factors, the Markit Flash France Composite Output Index , based on around 85% of normal monthly survey replie…
