Loans and Finance
Tuesday, January 31, 2017
Deutsche Bank Fined £500m
Friday, January 27, 2017
Short The Euro!
#Trump's potential next ambassador to EU says he would "short the euro" since it "could collapse" in next 18 months. https://t.co/uciIZLdwQK— Maxime Sbaihi (@MxSba) January 26, 2017
VW In Prosecutor's Crosshairs
*BRAUSNSCHWEIG PROSECUTOR EXPANDS VW INVESTIGATIONS:HANDELSBLATT— Arne Petimezas (@APetimezas) January 27, 2017
RBS Increases Provisions For Fines
RBS’s total package for provisions related to the mortgage-selling misconduct now stands at $8.3 billion.
Thursday, January 26, 2017
Going For Growth
UK GDP grew 2.4% on annualised basis. In comparison US is coming in at 2.2%. 16 consecutive quarters of growth. All #DespiteBrexit— Euro Guido (@EuroGuido) January 26, 2017
Wednesday, January 25, 2017
Bernie Ecclestone - A Perfect Example of Thinking Outside of The Box
In today's @FT: Analysis of why new US owners of #F1 moved against #BernieEcclestone plus stories like this: https://t.co/rLKa3Ue7Vl pic.twitter.com/GY2xUD9uow— Murad Ahmed (@muradahmed) January 25, 2017
Tuesday, January 24, 2017
The Robots Aren't Coming
Adoption of #robots per 10,000 workers by country, leaders:— Adam Bates (@AdamBates_D6) January 24, 2017
1. South Korea
UK near bottom ☹️ pic.twitter.com/VZqXxctTau
Monday, January 23, 2017
Samsung Confirms Dual Battery Fault
Samsung confirmed what everyone knew, namely that it was a battery fault. Internal and independent investigations had “concluded that batteries were found to be the cause of the Note 7 incidents”.
In the case of the original battery, the casing was too small, causing it to short-circuit and ignite. It was replaced with a battery that had a different manufacturing defect but led to the same result.
Koh Dong-jin, the head of Samsung’s mobile business, is quoted by the Guardian:
“We sincerely apologise for the discomfort and concern we have caused to our customers.”The company said there would be no fire risk involving future devices.
Meanwhile the heir to the Samsung throne, Lee Jae-yong, faces the prospect of arrest as prosecutors have accused him of making bribes worth millions of pounds to a close friend of South Korea’s president.
Friday, January 20, 2017
Schaeuble Positive On Brexit Trade Deal
Pretty positive statement from Schauble at @wef on ability to do new trade deal to minimise damage to both EU and U.K.— Lawrence Freedman (@LawDavF) January 20, 2017
Thursday, January 19, 2017
Momentous Change - Tax Rates
Hearing talk top rate of incomeTax to be reduced to 40% + new city of Ldn corporation Tax zone established 15% rate #GoingGlobal #brexit— Purpleline (@purpleline) January 19, 2017
Wednesday, January 18, 2017
UK Unemployment Falls
In the three months to November, unemployment continued to decrease after hitting a 10-year low in October last year.
The UK now has one of the lowest jobless rates in Europe at 4.8%. The employment rate is now 74.5%, up from 74% in the previous year.
Average earnings increased by 2.8% in the year to November, a 0.2% increase on the previous month.
Where is the much vaunted post Brexit apocalypse?
Tuesday, January 17, 2017
China Makes Play to Replace Dollar With Yuan As Reserve Currency
China offers to world AIIB, BRICs bank, Silk Road, 1 Belt 1Road, RCEP, FTAAP. US had only TPP to balance that. Now gone with Trump #WEF17— Nouriel Roubini (@Nouriel) January 17, 2017
Xi is making a skilful pitch at Davos #WEF17 to make China the champion of free trade and globalisation, and to replace the Dollar with the Yuan as the global reserve currency.
Monday, January 16, 2017
IMF Revises UK Growth Forecast Upwards To 1.5%
"A stronger-than-expected performance during the latter part of 2016"
So much for the post Brexit financial apocalypse predicted by the Remainders!
Trump Promises "Fair" Deal for UK
Donald Trump promises UK “fair” trade deal @economiamag | https://t.co/1ZpeXb4Iiy pic.twitter.com/LypVz5NANU— ICAEW Talk (@ICAEW_talk) January 16, 2017
Samsung Identifies Cause of Galaxy Note 7 Fires
This of course comes as no surprise to anyone, as it has been assumed to be the issue from the very first reports of fires. However, notwithstanding that, Samsung will announce the results of their investigations on 23 January, one day before their fourth quarter results.
However, it seems that Samsung may have other things to worry about:
South Korea Prosecutor Seeks Arrest of Samsung Chief for Bribery https://t.co/cHmg0fQQCu— Dr. Mark P. Barry (@DrMarkPBarry) January 16, 2017
Friday, January 13, 2017
First-time Buyers Highest Since 2007
The Halifax estimated there were 335,750 first-time buyers last year, the highest figure since 359,900 in 2007.
However, the average first-time deposit has more than doubled since 2007 to stand at more than £32,000.
The Halifax also found the average price of a first home broke through the £200,000 barrier for the first time.
Halifax housing economist Martin Ellis attributed the increase in first-time buyer numbers to continuing low mortgage rates and high levels of employment, which had "supported the market". He is quoted by the Telegraph:
"Government schemes such as Help to Buy have improved affordability, enabling more first-time buyers to buy their own property."Yet again the dire predictions of Project Fear have been proven wrong.
Thursday, January 12, 2017
Carney Admits Project Fear Was Wrong
He also admitted that Britain's economy will defy his own gloomy forecasts, that formed the bedrock of Project Fear,and grow at a faster rate than expected.
The Bank of England is now “very likely” to improve its economic forecast next month, Mr Carney said as he said he was “surprised” that the economic slowdown that he forecast has not materialised.
He is quoted by the Telegraph:
"In the run up to the referendum we felt that it was the largest risk [to the economy]. There were a series of things that could have happened that would have had financial stability consequences. Of course having got through the night the day after the scale of the immediate risks around Brexit have gone down.
I am not saying there are greater short term risks on the continent in the transition than there are in the UK."
The question is, how much longer will he remain in his job?
Wednesday, January 11, 2017
US Charges Three UK Traders
Richard Usher, formerly of JPMorgan, Rohan Ramchandani, formerly of Citigroup, and Christopher Ashton, formerly of Barclays, were charged with conspiring to restrain trade in an indictment filed at a federal court in Manhattan.