Our round-up of the week’s best comment and analysis from the Financial Times focuses on debunking misleading parallels between Reaganomics and Trumponomics and what changes the new US president’s policies will force in investor behaviour. The selection is taken from our Markets Insight and Smart Money columns, written by industry contributors and FT commentators. The world is too different from the 1980s for Donald Trump to achieve […]
Britain’s three quoted major supermarkets are expected to report this week that they enjoyed solid Christmas trading, though investor concern about a potential squeeze on consumer spending in 2017 means the focus is on their outlooks. Shares in market leader Tesco (TSCO.L) and Morrisons (MRW.L), the UK’s fourth biggest grocer, soared 38 percent and 55 percent respectively in 2016, reflecting a recovery in trading. That coincided with […]
An unparalleled image from NASA’s Chandra X-ray Observatory is giving astronomers the best look yet at the growth of black holes over billions of years beginning soon after the Big Bang. This is the deepest X-ray image ever obtained, collected with about 7 million seconds, or 11 and a half weeks, of Chandra observing time. (via WSJ)
Qualcomm At CES 2017, Qualcomm has demonstrated a number of ways its technology will support the 5G future, from powering autonomous drones to connected health care. Giving weight to its investments and innovations, Qualcomm CEO Steve Mollenkopf on January 6 shared new research commissioned by Qualcomm to show the impact 5G will have on the future economy. By 2035, when 5G’s full economic benefit should be realized, […]
Tod Nielsen FinancialForce, an enterprise resource planning company, built on Salesforce’s platform named Tod Nielsen CEO. The move is notable given that Nielsen was CEO of Heroku, which was acquired by Salesforce in 2011. Nielsen was also chief operating officer at VMware. Simply put, Nielsen knows the platform game and now is expected to boost growth for FinancialForce. The company said it is approaching a $100 million […]
The amount of money making bets that US Treasuries will fall in value climbed to a new record high over the last week in a wager that faster US economic growth and higher inflation will weigh further on government bond prices. So-called “non-commercial” speculative positions selling the 10-year Treasury futures contract have been rising since the US presidential election and hit 816,156 contracts in the week to […]
By Christine Murray | SAN LUIS POTOSI, Mexico SAN LUIS POTOSI, Mexico Ford Motor Co’s (F.N) abrupt move to scrap a planned $1.6 billion car plant in central Mexico has spooked a network of suppliers who bet on a growing customer base and dramatized the risk that Donald Trump’s agenda poses to the country’s broader economy. Many auto parts makers had started to expand in anticipation of […]
Teva Pharmaceuticals, the world’s largest maker of generic drugs, has cut its sales and profit expectations for 2017 as it braces for more pricing and competition pressure on its best-selling drug — the multiple sclerosis treatment Copaxone. The Israeli group said net revenue for full-year 2017 would now be $23.8bn-$24.5bn, compared with the $25.2bn-$26.2bn range it gave in July. Expectations for earnings per share have also been […]
By Ann Saphir and Jason Lange | CHICAGO CHICAGO Chicago Federal Reserve President Charles Evans said on Friday the central bank could raise interest rates three times this year, faster than he had expected just a few months ago and in line with the majority of his colleagues. The comments from Evans, a voting member of the Fed’s policy committee this year, reinforced the view that the […]
Saudi Arabia’s non-oil private sector strengthened again in December after touching record lows in October, according to a new business survey. Data from the Emirates NBD Saudi Arabia Purchasing Managers’ Index (PMI) showed that output rose at the sharpest rate since August, while new orders increased at a marked, albeit slightly slower, rate. Companies responded to increased requirements by raising their purchasing activity and boosting inventories amid […]
Submitted by Lance Roberts via RealInvestmentAdvice.com, A few week’s ago I discussed the post-election surge in the market based on rather optimistic outlooks as opposed to the technical underpinnings that currently exists. As I specially stated in the weekend newsletter entitle “Dow 20,000” the market was beginning to take on an eerily similar feeling: “If this market rally seems eerily familiar, it’s because it is. If fact, the backdrop […]
Nobody likes to admit going along with the consensus. It sounds better to be contrarian, and in markets there is far more money to be made when you latch on to an unpopular notion that turns out to be correct. That is how you get to buy things cheap. But sometimes the herd gets it right, even if it gets overexcited and “overshoots” its target. On balance, […]
January 6, 2017 by: Adam Samson in New York US wage growth accelerated to the quickest pace since 2009 last month, underscoring rising inflationary pressure as President Barack Obama prepares to pass the torch to Donald Trump. Average hourly earnings climbed 0.4 per cent in December from the previous month, beating expectations for a 0.3 per cent pick-up, the Labor Department said in the final employment report […]
As the first battery cells roll off the production line at Tesla’s 1.9m sq ft Gigafactory in Nevada a scramble is under way to secure supply of the lithium that is their key ingredient. This week a small Australian mining company sold a lithium prospect in west Africa to a Chinese buyer for $78m — or more than 2,000 times the amount it paid for the deposit […]
Oman’s sovereign net foreign assets are forecast to fall to 28 percent of GDP by 2018 from 48.5 percent at the end of 2016 due to external debt issuance and draw-downs from wealth funds to finance budget deficits, according to Fitch Ratings. The ratings agency, which also said in a statement that the earlier sharp fall in oil and gas prices had hit Oman hard, published Oman’s […]
Something remains very broken with the US labor market: while the unemployment rate remains just shy of the lowest print since August 2007, rising fractionally to 4.7%, wage growth for most workers, as reported earlier, rose just 2.5%, far below the 4.0% it was when the unemployment rate last hit 4.7%. This continues to vex economists who have vowed that if only one lowers the unemployment rate […]
By Yashaswini Swamynathan U.S. stocks edged lower on Friday after data showed employment in December rose less than expected but a rebound in wages suggested sustained growth in the labor market. The public and private sectors together added 156,000 jobs last month, a U.S. Labor Department report showed, compared with 204,000 jobs added in November. Average hourly earnings increased 10 cents, or 0.4 percent, after slipping 0.1 […]
The 16-member SEA-ME-WE 5 Consortium, in which Dubai-based telco du is a stakeholder, has announced the completion of a 20,000km subsea cable infrastructure on schedule. The project is in line with the UAE National Vision 2021 and the National Agenda of sustainable environment and infrastructure, news agency WAM reported. It added the investments from du were instrumental in bringing SEA-ME-WE 5 to the UAE. South East Asia–Middle […]
Friday 02:30 GMT Overview Asia’s markets were bracing for key US jobs data on Friday, leaving stock indices flat and most currencies higher against a wobbling dollar. Within the region, attention was on the Chinese renminbi, which paused for breath after enjoying its biggest two-day rally against the dollar since the offshore market was created in 2010. Hot topic While currency markets are looking at the renminbi, […]
With all eyes likely on wage growth indications in the subtext of tomorrow’s payrolls report (following The Fed Minutes’ comments on full employment), Goldman Sachs is forecasting a better-than-expected 0.3% rebound in average hourly earnings (helped by more favorable calendar effects) and a better-than-expected 180k payrolls print (albeit with a small rise in the unemployment rate). However, they are careful to note that any downside can be […]
India will on Friday get its first official indication of the impact of Prime Minister Narendra Modi’s war on cash on the larger economy. The country’s statistics ministry will release its estimate of growth in gross domestic product for the current fiscal year and analysts will be watching to see if it can maintain its 7.6% rate despite the severe cash shortage sparked by the Nov. 8 […]
Manama, Kingdom of Bahrain, 05 January 2017 The Kingdom of Bahrain’s national carrier, Gulf Air, today began its official 14-day countdown to the highly anticipated launch of the airline’s first flight to Bandaranaike International Airport, in the Sri Lankan capital Colombo, which will commence on 19th January 2017 with 5 flights per week. In advance of the route launch Gulf Air Chief Executive Officer, Mr. Maher Salman […]
Did you know that 89% of top-level domains are now signed with DNSSEC? Or that over 88% of .GOV domains and over 50% of .CZ domains are signed? Were you aware that over 103,000 domains use DANE and DNSSEC to provide a higher level of security for email? Or that 80% of clients request DNSSEC signature records in DNS queries? All these facts and much more are […]
Xiaomi, the Chinese smartphone maker, said that its revenues in India had exceeded $1bn last year as it looks abroad for growth amid continuing competitive pressures at home. Chinese-owned technology companies have so far led the smartphone market in India. The subcontinent is seen as the next big untapped market for mobile makers at a time when growth has begun to flag elsewhere. Sales of Xiaomi’s smartphones […]
