Five things investors learned in the last week
- 4 October 2013
1) The US government has shut down with Congress failing to agree a budget this week. All eyes are on the debt ceiling due roll-0ver which falls on the 17 th October. Most commentators say they won’t dare default. If they do, it will be uncharted territory. A long debate over the ceiling will harm the economy says the Washington Post politics site. The head of the IMF Christine Lagarde says it is mission critical.
2) Twitter has passed its papers to the SEC and says it hopes to raise £1bn as Sky News reports.
3) The Barclays cash call sees 95% of investors taking the chance to buy shares at 185p for every four shares they owned as Investment Week reported on Thursday.
4) The Chancellor of Exchequer George Osborne says a Conservative government will aim to deliver a budget surplus by 2020 as CityAM reports. The Guardian’s economics blog predicts more cuts to get there.
5) Challenger online DFM business Nutmeg says it will publish its performance figures soon in a bid to shake up the discretionary fund market as chief executive Nick Hungerford tells MindfulMoneyTV.
- The rise in the pound since Forward Guidance is equivalent to a 1.25% rise in UK base rates
- Cyprus and its economy show the consequences of a banking bail in
- What happened to all those Swiss Franc mortgages in Hungary,Cyprus,Croatia and Poland?
- Lloyds Banking Group fined record £28m and facing huge redress bill for frenzied, bonus-driven culture of misselling among sales staff
- Lloyds Bank - the customer was always ripe (for misselling)
- Broad monetarism still dominant but narrow money signals more reliable
- Optimism that borrowers can cope with return to normal interest rates
- Service sector pay beating inflation while public sector and manufacturing wages lag price rises
- Psigma suggests six funds for six different types of investor for 2014 - and five themes
- The latest cost for a 'happy' retirement? £225,756