Interest rates could rise by a “somewhat greater extent” than previously thought, the Bank of England says.
click for ginormous graphic Source: Deutsche Bank Securities Torsten Sløk always brings the good stuff: “After a stellar 2017 and an even stronger January, risk assets have undergone a sharp pullback in the last week. Initially triggered by higher rates as markets repriced inflation expectations higher, the episode evolved into a technical spout of…
Money spent on player wages rises 9%, hitting the football club’s quarterly profits.
Police in Lower Pottsgrove, Pennsylvania have spotted a group of thieves who are placing completely camouflaged skimmers on top of credit card terminals in Aldi stores. The skimmers, which the gang placed in plain sight of surveillance video cameras, look exactly like the original credit card terminals but would store debit card numbers and PINs of unsuspecting shoppers. “While Aldi… Read More
Unless you’ve ever used it, chances are you’ve never heard of Adobe’s Experience Manager. Inside of large enterprises, though, it’s among the most popular cross-platform content management systems for marketing teams and those who have to manage large online stores. Today, the company is launching an update to the Experience Manager that brings a number of new… Read More
Le Maire critical of plan to impose debt writedowns on investors in bailed out countries
What its economic challenges tell us about globalisation
The government should shed its Brexit paralysis and stem the escalating crisis. Reform of council funding must come quickly
The wonder is that it’s taken so long for councils to tumble over the cliff. This is their eighth year of brutal cuts, while the cost of caring for frail elderly people and needy children sky-rockets.
The Daily Mail’s front page on Thursday blasts away at councils for a “thumping rise in council tax” of 6%, with nine out of 10 councils set to burst their budgets. They quote the TaxPayers’ Alliance calling for councils to “step up a war on wasteful spending”. The real war has been central versus local government.
Take the cap off council tax for higher-value properties, which have not been revalued since 1991
Yves Mersch joins growing list of experts calling for restrictions on cryptocurrencies
A top European Central Bank policymaker has joined calls for a global clampdown on virtual currencies such as bitcoin because of their threat to financial stability.
Yves Mersch, a member of the ECB’s executive board, said the central bank shared the views voiced by Agustín Carstens, the head of the Bank for International Settlements, who on Monday condemned bitcoin as “a combination of a bubble, a Ponzi scheme and an environmental disaster”.
Bitcoin is the first, and the biggest, “cryptocurrency” – a decentralised tradeable digital asset. Whether it is a bad investment is the big question. Bitcoin can only be used as a medium of exchange and in practice has been far more important for the dark economy than it has for most legitimate uses. The lack of any central authority makes bitcoin remarkably resilient to censorship, corruption – or regulation. That means it has attracted a range of backers, from libertarian monetarists who enjoy the idea of a currency with no inflation and no central bank, to drug dealers who like the fact that it is hard (but not impossible) to trace a bitcoin transaction back to a physical person.