It is an honour to be invi ted to address you today. Insurance is at the core of the new Bank of England. As regulator, we are tasked with ensuring the safety and soundness of the UK’s insurance companies and the protection of their policyholders. To discharge these responsibilities, we draw on…
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Carney: Putting the right ideas into practice
Applications for unemployment benefits in the U.S. increased less than forecast last week as an improving economy prompted employers to retain staff. First-time jobless claims climbed 12,000 to 293,000 in the week ended Sept. 20, the Labor Department reported today in Washington. The median fore…
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Jobless Claims in U.S. Increased Less Than Forecast Last Week
Orders for U.S. business equipment climbed more than forecast in August, indicating corporate investment will help spur economic growth. A 0.6 percent advance in bookings for non-military capital goods excluding aircraft followed a 0.2 percent decrease in July that was smaller than previously est…
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Orders for U.S. Capital Goods Climb More Than Forecast
Former board members of Barclays have been called on to give evidence to the UK’s anti-fraud agency as part of a probe into the bank’s dealings with Qatar over an emergency cash injection at the height of the financial crisis. The Serious Fraud Office has served Section 2 notices on directors w…
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Ex-Barclays bankers to give evidence on fraud
Italian retail sales fell a seasonally adjusted 0.1 percent month-on-month in July, led by lower food sales, after a revision showed an identical fall in the previous month, data showed on Thursday. On an unadjusted year-on-year basis, retail sales fell 1.5 percent, after a revised 2.7 percent fa…
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Italy July retail sales fall 0.1 percent month on month
Lending to euro zone households and companies contracted for the 28th months in a row in August, though at a slower pace, putting a keener spotlight on European Central Bank efforts to get credit flowing again. Euro zone banks, particularly in the crisis-stricken countries, have tightened up on …
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Weak euro zone lending data underscores need for ECB stimulus
Retail sales volumes continued to grow solidly in the year to September, albeit at a slightly slower pace than in the previous month. The CBI’s latest monthly Distributive Trades Survey of 123 respondents also showed that the volume of orders placed on suppliers in the retail sector grew st…
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Solid UK high-street growth continues
With dovish comments from Mario Draghi, sentiment on the equity markets has turned around again. The S&P 500 and the Dow both closed just under a percent higher as there was also a positive read on the US New Home Sales. Asian trading was also boosted by the news that there had been a change at the…
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Return of the Dollar bulls hammering the Euro, Sterling, Gold
The euro hit a 22-month low against the dollar on Thursday on the prospect of diverging monetary policy between the Federal Reserve and the European Central Bank as rate differentials swing decisively in the greenback’s favor. The common currency fell to $1.2730 on trading platform EBS, its lowes…
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Euro falls to 22-month low versus dollar on diverging rate outlooks
Vladimir Putin’s first decade in power came to be known in Moscow as the “sushi years,” so totally had raw fish become a dining staple for the rising consumer class in his capital. The sushi bubble is deflating now, hastened by the plunge in the ruble and the trade war triggered by Putin’s inter…
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Sushi Bubble Pops for Moscow Middle Class as Ruble Drops
FXCM (NYSE:FXCM) has begun inviting traders to sign up within the list of those wishing to be among the first to experience a new product offering by the broker: single share CFDs. The landing page promises an innovative way to trade contracts for difference based on the stock of a single company,…
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FXCM opens waiting list for single-share CFDs
Fin min out on the wires; No further detail but no great surprises either;
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Germany’s Schaeuble says he’s unhappy about debate on ECB bond buying
You might be aware of the timer above the door of Lietuvos bankas, Lithuania’s central bank, which is counting down to the euro changeover – less than 100 days remain until Lithuania adopts the euro. Lietuvos bankas installed the countdown clock two months ago, when the Council of the European…
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Draghi: Keynote speech at the Euro Conference
The euro’s drop to its lowest against the U.S. dollar in over a year may be just the beginning, with some analysts expecting the common currency to fall to levels not seen since 2003. “The euro is vulnerable to a serious hit,” analysts at Barclays said in a note Wednesday. “We now expect a large,…
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How low can the euro go?
BREAKING
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Euro hits 22-month low versus dollar of $1.2737
BUSINESSES MUST increase productivity, investment and exports to ensure a lasting economic recovery, according to the new deputy governor of the Bank of England. In her first interview since taking on the role, Minouche Shafik discussed the risks to the rebounding UK economy, the need for more g…
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Bank of England ‘won’t risk recovery’, says Minouche
Thursday is a moderately busy day for economic reports, including the main event for Eurozone releases: the monthly money supply figures from the European Central Bank. Later, a pair of US releases will be closely analysed for guidance on the macro outlook: new orders for durable goods and weekly…
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3 Numbers: EU money supply key to QE plans, US goods, US jobs
Quote from a Yorkshire Post newspaper interview published today but no shift in stance; Nemat “Minouche” Shafik is the recently appointed dep gov for markets and banking and former deputy managing director of the International Monetary Fund; GBPUSD a tad higher at 1.6328 EURGBP on session low…
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BOE’s Shafik says they may have to move quicker on interest rates if wage increases not accompanied by productivity increases
China uncovered almost $10 billion in fraudulent trade nationwide as part of an investigation begun in April last year, including many irregularities in the port of Qingdao, a foreign exchange official said today. Companies “faked, forged and illegally re-used” documents for exports and imports,…
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China Foreign Exchange Watchdog Finds $10 Billion in Fake Trade
The years of double-digit economic growth are over in China, say government officials who are starting to use a phrase familiar to Americans and Europeans: “the new normal.” For China, the change means the economy may grow at less than the annual GDP growth target – 7.5% for 2014-for the first ti…
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China Getting Used to the ‘New Normal’ of Slower Growth
