Shadow MPC doves reverse pro-QE stance

first_img whatsapp whatsapp Tags: NULL KCS-content STRONG third-quarter GDP growth has persuaded a majority of City A.M.’s shadow Monetary Policy Committee (MPC) that rates should be kept on hold this month, with further quantitative easing (QE) staved off for now.The Bank of England MPC will meet today to decide whether to resume QE or raise interest rates from 0.5 per cent against the backdrop of the US Federal Reserve’s decision to restart the printing presses.Our shadow MPC has shifted its view from the three-way split recorded in September and October. Last month, both Capital Economics’ Vicky Redwood and Lloyds’ Trevor Williams voted for a cautious expansion in QE, with Redwood declaring: “The time has come to launch QE.”But both economists have rowed back from that position, attributing their revised opinions to the UK’s surprisingly strong GDP growth figure for the third quarter. The Office for National Statistics’ preliminary estimate of the UK’s growth came in at 0.8 per cent versus consensus of 0.4 per cent, in part due to unexpectedly strong construction sector growth.With the consumer price index for September at 3.1 per cent, the additional concern of above-target inflation makes QE unpalatable for the majority of our shadow MPC.Both City A.M.’s Allister Heath and Henderson’s Simon Ward have retained their hawkish stance to raise rates 25 and 50 basis points respectively. Heath’s position has hardened due to recent global PMI surveys exceeding expectations while Ward remains concerned that “a coming inflation spike threatens to de-stabilise inflationary expectations unless the Bank acts”.Ward’s anxiety about inflation echoes that of Andrew Sentance, the lone hawk on the MPC who has been voting for a 25-basis point rise in interest rates since June. Last month saw the first three-way split at the Bank, with Adam Posen breaking ranks to vote in favour of restarting QE. The shadow MPC’s decision comes as the US Federal Reserve announced that it would resume its asset-buying programme by purchasing $75bn’s (£46.6bn) worth of treasuries every month until next June for a total of a further $600bn of QE.The MPC’s minutes, to be published in three weeks, will provide a breakdown of the Bank’s decision.ALLISTER HEATH | CITY A.M.“Even more so than during the last few months, I am convinced rates must go up immediately by a quarter point. The economy is growing reasonably well, the PMIs are up and the velocity of money has risen.”SIMON WARD | HENDERSONRaise the rate to one per cent. A coming inflation spike could de-stabilise expectations unless the Bank acts. Monetary conditions remain loose: officials are misreading the data by ignoring a trend shift in velocity.GEORGE BUCKLEY | DEUTSCHE BANK“With growth stronger than expected and inflation still above target, further QE seems unwarranted at present. Equally, the outlook remains uncertain enough to suggest against higher rates right now.”VICKY REDWOOD | CAPITAL ECONOMICS“Real GDP growth and inflation are stronger than they expected and long-term inflation expectations are rising. If the Bank expands QE, markets will assume the inflation target is being downgraded.”vicky redwood | capital economics“Given the stronger tone of the activity data over the past few weeks, a no-change decision – but with a bias towards more loosening should the recovery lose more momentum – seems sensible.”TREVOR WILLIAMS | LLOYDS TSB“The Bank is walking a tightrope and should ask for the funds to do further QE, but only when economic conditions warrant it. In the meantime, rates should remain on hold.”HOWARD ARCHER | IHS GLOBAL INSIGHT“I have a neutral stance – hold on QE and interest rates. The latest data and surveys have pointed to surprisingly resilient economic activity but there remains a significant risk of a marked slowdown in activity.”JAMIE DANNHAUSER | LOMBARD STREET RESEARCH“There should be no change this month. The initial third-quarter GDP figures confirm that the recovery has not petered out. More QE may be needed next year – but at this stage this looks unlikely.”GRAEME LEACH | IOD“Our view is that the second and third-quarter bounce will level off, leading to a square root-shaped cycle. Money supply growth is too weak to be confident of a sustained recovery without further QE.” Show Comments ▼ Shadow MPC doves reverse pro-QE stance Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoDirect HealthyKate Silverton’s PartnerDirect HealthyUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndo Wednesday 3 November 2010 9:19 pm Sharelast_img read more

Rolls-Royce wins $1.2bn China order

first_img Show Comments ▼ Tuesday 9 November 2010 7:58 pm PRIME Minister David Cameron’s efforts to double trade with China by 2015 received a boost yesterday, as aero-engine maker Rolls-Royce won a $1.2bn (£747.4m) order from China Eastern Airlines.Cameron, making his first visit to the Asian powerhouse since taking office in May, has targeted annual trade of more than $100bn with the world’s second-largest economy within five years.The Prime Minister told reporters he would raise human rights issues with Beijing but it wasn’t Britain’s role to lecture or heckle China, a one-party communist state. Some rights groups have accused London of soft-pedalling on sensitive political issues to avoid harming its trade prospects.The Rolls-Royce order, signed in Cameron’s presence, is for Trent 700 engines to power 16 Airbus A330 aircraft and is by far the biggest such deal sealed during a trip by the largest British delegation ever to visit China.Foreign secretary William Hague told MPs back in the UK that agreements to be signed during Cameron’s trip might total around £1.7bn.Britain is competing with other Western nations to sell more to China and its vast population.China and France clinched deals valued at around $20bn last week during an overseas trip by President Hu Jintao, while Germany remains by far Beijing’s biggest European trade partner.Cameron yesterday called for progress on the Doha round of world trade talks, long paralysed by disputes over farm trade centred on the United States, China and India. His 36-hour visit to China comes ahead of a G20 summit in South Korea starting tomorrow.“Next year has to see the deal done, and that means action now,” he wrote in a newspaper column. KCS-content Rolls-Royce wins $1.2bn China order More From Our Partners Kansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com Sharecenter_img Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndo whatsapp whatsapp Tags: NULLlast_img read more

Japanese GDP appears weak as year closes

first_imgSunday 5 December 2010 11:12 pm Tags: NULL whatsapp Show Comments ▼ Japanese GDP appears weak as year closes KCS-content center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com JAPAN’s prospects for recovery will be clearer this week, with expected data releases on lending, machinery orders and consumer confidence. And on Thursday the growth level for the third quarter of the year may be revised. The first estimate said the Japanese economy expanded by 0.9 per cent in the three months to September, yet prospects for the end of the year are less optimistic.“GDP may well contract again in the current quarter following the expiry of government subsidies for car purchases,” said Julian Jessop of Capital Economics. Sharelast_img read more

Kesa sees profit surge but Comet struggles

first_img John Dunne whatsapp whatsapp Tags: NULL Share Wednesday 8 December 2010 2:37 amcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGemZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Kesa sees profit surge but Comet struggles Read This NextFresh Fruit Sushi: Recipes Worth CookingFamily ProofCreamy Pumpkin Soup: Delicious Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofA Once in 17 Years Cicada Event in Princeton, New JerseyFamily Proof Show Comments ▼ Kesa Electricals has seen its half-year profit surge after strong sales growth in Europe offset losses in the UK.Kesa, which owns the Comet chain, made a pre-tax profit of £22.9m in the six months to 31 October, up from £6m a year earlier.But the losses at Comet have reached £5.4m from £1.5m, which Kesa said was due to tough trading conditions and the cost of revamping a number of stores.Revenues at Kesa rose 4.1 per cent. Profits at its French business increased 16 per cent. last_img read more

Close Brothers boosted by banking arm

first_img whatsapp Close Brothers boosted by banking arm John Dunne Financial services group Close Brothers said it was confident of posting solid results for 2011, with growth in its main banking arm offsetting slight losses at its asset management unit.“Given the result year to date, overall we remain confident we will deliver a satisfactory performance for the 2011 financial year,” the company said.Close Brothers, whose services include merchant broking, securities dealing and asset management, said its core banking arm had loan book growth of ten per cent for the five months to 31 December.It added that while the bad debt ratio for its banking arm was slightly higher compared with a year earlier due to writedowns on property, the division had maintained a strong net interest margin.Close Brothers is restructuring its asset management division.Close Brothers said the asset management unit had made an unspecified “small loss” over the period, although total funds under management rose 19 per cent to £8.8bn. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Friday 21 January 2011 2:53 amcenter_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp Share Show Comments ▼last_img read more

Moelis targets Asia expansion with purchase

first_img Tags: NULL Show Comments ▼ INVESTMENT bank Moelis is making its first move into Asia with the acquisition of a local boutique adviser.The firm, founded by high-profile former UBS banker Ken Moelis, has developed aggressively since it began trading just over three years ago and is now making a global push.The bank has purchased Asia Pacific Advisers, the Hong Kong-based boutique advisory firm established by Richard Orders, the former head of global clients in Asia-Pacific for ABN Amro. Moelis will take on all eight of APA’s staff, including two senior bankers who have worked in the Asia-Pacific region for the past 20 years.The investment bank’s expansion could help it to tap the exploding Asia-Pacific market for investment bank revenues. The move comes hot on the heels of the opening of a Moelis office in Dubai last week. Revenue from fees for investment banks across the region increased by 55.7 per cent to $12.1bn (£7.6bn) last year, representing 17 per cent of the $69.7bn global market, according to data compiled by Dealogic. whatsapp KCS-content Share Moelis targets Asia expansion with purchase Thursday 27 January 2011 8:54 pm More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com whatsapplast_img read more

UKFI warns on bank splits

first_imgThursday 27 January 2011 9:06 pm Tags: NULL UKFI warns on bank splits KCS-content whatsapp Share Show Comments ▼ whatsapp THE manager of the government’s stake in RBS and Lloyds defended the structure of the UK’s biggest banks, hitting back at advocates of splitting them into retail and investment arms yesterday. Sir David Cooksey, chairman of UK Financial Investments, which administers the government’s shares in the lenders, argued that breaking up banks would destroy their value.In the latest salvo in the debate over whether big universal banks should be split up to make them safer, Cooksey said trying to separate banks’ retail and investment banking arms would lead to “a diminution in value” at the institutions.“We’ve looked at the dramatic separation option. It’s difficult to know the full implications, but it would clearly be negative for value,” he told the parliamentary Treasury Select Committee.The Independent Commission on Banking is taking evidence on how to reform UK banks to ensure none are too big to fail in a future crisis. It has proposed forcing institutions to hive off their trading divisions to safeguard the low-risk deposit-taking retail businesses. UKFI chief executive Robin Budenberg said the nationalised banks must be allowed to pay bonuses to stay competitive in the battle for top staff. “We understand that it is very difficult to justify the sort of bonuses that are paid at these banks,” he said. “But if we want to sell these shares, we have to make sure the banks are able to retain the talent.” Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Prooflast_img read more

Arcelor joins Mongolia coal bid

first_img whatsapp Arcelor joins Mongolia coal bid KCS-content Tags: NULL Steelmaker ArcelorMittal and miner Vale are among 15 groups that applied to take part in the bidding to develop Mongolia’s Tavan Tolgoi coal mine. The mine is regarded as one of the world’s biggest untapped reserves with an estimated reserve of 6bn tonnes. Two groups led by Japanese trading houses, one by Mitsui & Co and another by Itochu, have also applied to be part of the bidding. Among other applicants are Xstrata, Peabody Energy, Russian tycoon Oleg Deripaska’s En+ Group, and India’s International Coal Ventures. The bidding process has not been made public. Show Comments ▼ Sharecenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Tuesday 1 February 2011 8:38 pm Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapplast_img read more

Exit activity at record levels

first_img Show Comments ▼ KCS-content Share whatsapp Tags: NULL Exit activity at record levels whatsappcenter_img Private equity backed exits remained at record activity in the first three months of the year, researchers at Prequin revealed yesterday. “Fund managers are realising the mega-sized investments made during the buyout boom-era,” said Prequin’s Manual Carvalho. The number of new deals, and their value, both fell from the final quarter of 2010. New deals numbered 623, worth $49.9bn (£30.6bn) – down eight per cent in number, and 26 per cent in aggregate value. Tuesday 5 April 2011 7:31 pm More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comlast_img read more

Gold hits new record high against dollar

first_img whatsapp Gold hits new record high against dollar by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediamoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBe Share Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap GOLD soared to a fresh record high in New York yesterday, explained widely by spiralling inflation and tumbling confidence in the US dollar.Silver also spiked, to a 31-year high, with investors turning to both metals as “safe havens” amid economic uncertainty and historically accommodative monetary policy.“The record price of gold is only coming through against the US dollar, and remains quite a way off in sterling and euro terms,” said Adrian Ash of Bullion Vault, a gold trading service.Gold surged past $1,463 (£897) an ounce before closing at $1,461.50, having rallied by more than eight per cent over the last two months. Gold futures also rose by half a per cent, while silver hit a peak of $39.68 an ounce during the day.“The Fed has printed billions, its monetary policy is unsustainable,” commented Michael Hewson of CMC Markets. “And if the US can’t even agree a Budget or a debt ceiling, what confidence does that give the dollar as a reserve currency?”“People are losing faith in the ability of their governments to keep inflation under control and maintain the purchasing power of their currencies,” added Tom Clougherty of the Adam Smith Institute.On Tuesday the Fed appeared to confirm that its controversial programme of asset-buying, coined QE2, will not be curtailed.While still dovish in its sentiment, the minutes of the Fed’s last meeting admitted that the size of the ongoing quantitative easing could pose an upward risk to inflation expectations.Instability in the Middle East and rising food, oil and other commodity prices were also cited as potential factors behind the strength in gold and silver – as well as seasonal peaks, caused by demand in India.India is the world’s leading consumer of gold, spending 2.65 per cent of its GDP on the metal. Show Comments ▼center_img Wednesday 6 April 2011 8:24 pm KCS-content whatsapp Tags: NULLlast_img read more