Jean Tirole, a French economist, won the 2014 Nobel in economic science on Monday for his work on the best way to regulate large, powerful firms in industries including banking and communications. The Royal Swedish Academy of Sciences said that Mr. Tirole, 61, had helped governments tame such fir…
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Jean Tirole of France Wins Nobel Prize in Economics
The UK Consumer Price Index (CPI) has fallen sharply this year to hit 1.5% in August, which is well below the official 2% target. This allows the Bank of England (BoE) to maneuver in an ultra loose monetary environment without much concern about price stability in the medium term. Much of that…
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UK Inflation to Slow Further Below BoE’s Estimate
The UK Consumer Price Index (CPI) has fallen sharply this year to hit 1.5% in August, which is well below the official 2% target. This allows the Bank of England (BoE) to maneuver in an ultra loose monetary environment without much concern about price stability in the medium term. Much of that…
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UK Inflation to Slow Further Below BoE’s Estimate
Clotilde Narzisi and Luca Soliman have run the Caffe Orefici, 200 feet from Milan’s iconic Duomo Cathedral, for 10 years. Forced to sell their business because of high taxes, they say their only hope now is to leave it in Chinese hands. “They are the only ones who are buying,” said 43-year-old N…
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Italy on Sale to Chinese Investors as Recession Bites
Clotilde Narzisi and Luca Soliman have run the Caffe Orefici, 200 feet from Milan’s iconic Duomo Cathedral, for 10 years. Forced to sell their business because of high taxes, they say their only hope now is to leave it in Chinese hands. “They are the only ones who are buying,” said 43-year-old N…
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Italy on Sale to Chinese Investors as Recession Bites
The US hedge fund that forced Argentina to default on its debts has paid one of its London-based bosses more than £38m – a sum 1,437 times greater than the average UK salary of £26,500. Elliott Advisors, the British arm of New York hedge fund Elliott Management, paid £38,119,707 last year to a se…
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US hedge fund Elliott Advisors pays unnamed London executive £38m
The US hedge fund that forced Argentina to default on its debts has paid one of its London-based bosses more than £38m – a sum 1,437 times greater than the average UK salary of £26,500. Elliott Advisors, the British arm of New York hedge fund Elliott Management, paid £38,119,707 last year to a se…
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US hedge fund Elliott Advisors pays unnamed London executive £38m
Like Vladimir and Estragon waiting for Godot, governments and policymakers worldwide await an elusive economic recovery. But global growth is anemic and available fiscal and monetary policy tools cannot address the underlying problems. Ultimately, effective fiscal stimulus depends on the mul…
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Global economy is running on empty
Like Vladimir and Estragon waiting for Godot, governments and policymakers worldwide await an elusive economic recovery. But global growth is anemic and available fiscal and monetary policy tools cannot address the underlying problems. Ultimately, effective fiscal stimulus depends on the mul…
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Global economy is running on empty
The sell-off on the global markets went deep into the close on Friday and there seems to be little sign of downside pressure abating on Monday. The S&P 500 closed the session off 1.2% and is now approaching a crucial support around 1900. With ratings agency S&P also cutting its outlook for the…
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Looking to sell GBP/USD and EUR/USD into these rallies
The sell-off on the global markets went deep into the close on Friday and there seems to be little sign of downside pressure abating on Monday. The S&P 500 closed the session off 1.2% and is now approaching a crucial support around 1900. With ratings agency S&P also cutting its outlook for the…
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Looking to sell GBP/USD and EUR/USD into these rallies
Germany’s position in the Eurozone’s recovery effort highlighted a tense weekend of discussions at the annual International Monetary Fund/World Bank meetings in Washington and dominate the business pages in the German press Monday. “Solo for Germany” reads the Monday front-page headline o…
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Germany Stands Isolated Following IMF Summit
Sounding a more dovish note on monetary policy than he has in recent months, the governor of the Bank of England said in a rare interview with CNBC on Saturday that global weakness, lower inflation and troubles in European economies would influence policy at the bank’s meeting next month. Mark C…
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Gov of Bank of England sounds dovish note on rates
Melbourne, Australia based retail forex broker Pepperstone has been called out by Australia’s financial regulator ASIC for advertising to Japanese traders and taking Japan clients, actions its AFS license does not allow it to do. Apparently Pepperstone has been advertising through a Japanese mirr…
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Pepperstone forced by ASIC to exit the Japanese Forex market
•Recovery is reasonably broad based •Domestic factors have been driving UK economy •Will take Eurozone weakness into account in thinking on interest rates •Have to also take into account more modest global recovery
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Carney sees greater market volatility as stimulus is unwound
Greece is not yet giving European leaders sleepless nights again, but as the euro zone’s problem child approaches the end of its second international bailout, political uncertainty in Athens is set to test the currency area’s resilience. The disclosure in late 2009 that Greece had cheated on its…
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Fraught Greek bailout exit to test euro zone resilience
Deutsche Bank is losing some of its strongest financial performers amid a clampdown on bad behavior by traders, as the lender faces ongoing probes by global regulators into allegations of attempts to rig markets. The bank has introduced a policy of no longer rewarding the best earners on the tra…
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Deutsche clampdown on bad behavior prompts exodus of traders
Goldman Sachs cuts its EUR/USD forecast and now expects the pair to trade at 1.23, 1.20 and 1.15, in 3, 6 and 12 month from 1.29, 1.25 and 1.20 previously. GS expects EUR/USD to fall to parity by the end of 2017. “Overall, we think current levels in EUR/$ do not yet reflect the kind of balance …
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Goldman Sachs Cuts Its EUR/USD Forecasts
The following are the intraday outlooks for EUR/USD, USD/JPY, AUD/CAD, Spot Gold, and Crude Oil as provided by the technical strategy team at SEB Group. EUR/USD: Starting off on a positive footing. With renewed buying ahead of the 1.2583 key support (and confirmation point for new lows) the pai…
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Intraday Outlooks For EUR/USD, USD/JPY, AUD/CAD, Gold, Oil – SEB
now 36.25-45.25 from 36-45 effective Oct 10; central bank says it sold USD 866m for Oct 10 settlement according to the bank’s website; Given that’s the spot date for last Wednesday this isn’t exactly current news but does show the battle it has right now against the under-pressure rouble a…
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Russian central bank raises rouble corridor boundaries by 25 kopecks
