NEW YORK (Reuters) - U.S. private employers added 200,000 jobs in September, beating economists' expectations and suggesting there might be enough jobs growth for the Federal Reserve to raise interest rates later this year, a report by a payrolls processor showed on Wednesday.
BERLIN (Reuters) - Senior Volkswagen executives will examine on Wednesday findings from an internal investigation into its rigging of vehicle emission tests and prepare for an external inquiry, a source familiar with the matter told Reuters.
In his article for Bloomberg Business Ranjeetha Pakiam takes a look at China's recent accumulations in gold and how the country now compares in the world league table on gold holdings. He observes that there is a deliberate policy of increased transparency in China "as the country improves data quality, increases its presence in commodities trading and promotes the international role of the yuan".
China has overtaken Russia to become the country with the fifth-largest gold hoard
China's accumulation of physical gold is being tipped to continue by market experts
Monthly reporting increases Chinese transparency after years of mystery
Today's Gold Prices: USD 1122.50, EUR 1000.08 and GBP 739.12 per ounce.
Yesterday's Gold Prices: USD 1124.60, EUR 1001.16 and GBP 741.36 per ounce.
Gold in GBP - 1 month
Gold closed at $1127.50 yesterday with a $4.40 loss on the day. Silver was up $0.05 at close to $14.64, a gain of 0 ...
-- this post authored by Sushant Acharya and Alvaro Pedraza
Pension funds are expected to behave in a patient, countercyclical manner, making the most of low valuations over the business cycle to achieve high returns. Such behavior provides liquidity and stability to the financial system. However, this belief has come under question. A large theoretical literature has emerged which looks at how short-term considerations affecting these institutional investors might arise from relative performance concerns or from the influence of other incentives introduced by market and regulatory monitoring. Such considerations might incentivize fund managers to mimic others and herd toward common assets. Given the sizable wealth under management by these investors, such herding behavior can potentially have large effects on asset prices both in the short and long run.
LONDON (Reuters) - British supermarket Sainsbury's raised its profit forecast and posted better-than-expected quarterly sales on Wednesday, sending its shares soaring on hopes the worst may be over for the battered sector.
Terrible economic news is wonderful news for markets, all over again, and with the worst S&P500 quarter since 2011 set to close today, some horribly "great" news is just what the window-dressing hedge funds, most of whom are deeply underperforming the broader market (not to mention Dennis Gartman) ordered.
Days after Japan returned to deflation for the first time since 2013, confirming Abenomics 1.0 was a failure (hence Abe's launch of Abenomics 2.0 which will be even worse)...
... and after reporting even more abysmal industrial production and retail sales data, which in turn prompted a bevy of banks to cut their Q3 GDP forecasts to negative (JPM now expected Q3 GDP of -1.0%) and unleash yet another technical recession for Japan, the fifth since the financial crisis, the Yen plunged following the latest round of loud, renewed calls for a boost to the BOJ QE, and JPM in fact made the October 30 BOJ meeting its base case for further central bank easing. Abe advisors Honda and Takenaka both confirmed more BOJ easing is just a matter of time, as a result pushing the USDJPY solidly above the market critical 120 level.
And then, just a few hours later, we got the latest ...
LONDON (Reuters) - Oil prices slipped on Wednesday after an unexpectedly big build in U.S. crude inventories, further evidence of an oversupply that has helped halve global spot prices over the last year.
GENEVA (Reuters) - World trade will grow by 2.8 percent this year and could be pegged back further by a U.S. interest rate rise, China's economic slowdown or Europe's refugee crisis, the World Trade Organization said on Wednesday.
SHANGHAI (Reuters) - China's economy is officially growing at a brisk clip of 7 percent, but many locally based executives at multinationals say they wouldn't know it from the performance of their businesses.
Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
DUBAI (Reuters) - Standard Chartered plans to hire several financial crime-fighting staff in the Middle East, according to online jobs postings, as it seeks to strengthen controls after legal and compliance problems in the United States.
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