Index of US economic activity negative for fifth month August 20, 2013 Optimism for the US economy has improved slightly, as the Chicago Fed national activity index moved from -0.23 to -0.15 in July. That's the fifth consecutively negative read for the index. Last month's figure was better on release, now revised from -0.13 to -0.23, and analysts had been hoping for an improvement to -0.10.
Bank of Japan’s Kuroda says they will do whatever it takes to beat deflation August 20, 2013 Bank of Japan governor Haruhiko Kuroda has pledged that the central bank will do "whatever it takes" to beat deflation, as Japan's economic improvement steadily proceeds. Kuroda cited signs of positive cycle of output, income and spending, but claimed that a proposed sales tax hike wouldn't derail Japan's economic recovery. The central banker also warned [...]
Guardian has “held back a great deal” of leaked data, editor says August 20, 2013 Alan Rusbridger, editor of the Guardian newspaper, has said he has "held back a great deal" of information about the Edward Snowden case out of concern for the consequences for national security. Speaking on BBC Radio 4 today, Rusbridger said that there is a problem when you "start conflating journalism and terrorism". This follows the [...]
Capital Economics hikes UK growth forecast to over one per cent this year August 20, 2013 Capital Economics has nudged up its GDP forecasts for this year from 0.8 to 1.2 per cent this year as business surveys, retail sales figures, news on the housing market and consumer confidence indicate growing momentum in the second half. Growth next year is expected to accelerate, with Capital Economics now forecast growth of 2.0 [...]
China to become world’s biggest importer of crude oil by 2017 August 20, 2013 China is set to overtake the US as the world’s biggest importer of crude oil by 2017, consultancy Wood Mackenzie has said. It is estimated that China will spend $500bn (around £320bn) on 9.2m barrels of imported crude oil per day by 2020, up from 2.5m barrels per day (bpd) in 2005. By comparison, US [...]
Home Office says opposition to detention without charge implies support for terrorism August 20, 2013 The Home Office has said that the government has a "duty to protect the public and our national security" in the wake of the detention of David Miranda at Heathrow airport. If the police believe that an individual is in possession of highly sensitive stolen information that would help terrorism, then they should act and [...]
German finance minister says Greece will need another aid program August 20, 2013 German finance minister Wolfgang Schaeuble has said that Greece will need another aid program, saying that the first was "unique". Initial reports from Bloomberg suggested that Schaueble believed another program would not be necessary. Classic day in euro loony land with Bloomberg's help — deltahedge (@minefornothing) August 20, 2013 This is a bit of a [...]
Home Depot raises full-year sales guidance on strong second quarter results August 20, 2013 US home improvement retailer Home Depot has reported earnings excluding items of $1.21 (77p) per share on $21.8bn revenue – up from $1.01 per share the previous year and beating analyst expectations of $1.21 (release). Pre-tax earnings rose by 17.7 per cent to $2.846bn, while basic earnings per share rose 22.5 per cent to $1.25. [...]
Largest ever radioactive leak from steel tank reported at Fukushima August 20, 2013 Tokyo Electric Power (TEPCO), operator of Japan’s tsunami-hit nuclear power plant, has said around 300 tonnes of radioactive water has leaked from one of hundreds of storage tanks. While contaminated water is entering the Pacific Ocean at a rate of hundreds of tonnes every day, the latest leak at the Fukushima Dai-ichi plant is the [...]
European Central Bank official to visit Greece ahead of troika review August 20, 2013 The European Central Bank (ECB) is sending executive board member Joerg Asmussen to Greece tomorrow to discuss progress on the adjustment programme and wider Eurozone development with policymakers and business representatives. Asmussen's visit will be made in advance of further review by the troika of international lenders on whether Greece will need to make further [...]