The Greens, another popular party in bourgeois areas of Berlin, got around 8 percent. New moves in Europe and abroad? Merkel has already overseen the deepening of European economic integration, notes Jan Techau, the director of Carnegie Europe in Brussels, in a recent opinion piece in The New York Times. But last month she announced that perhaps it was time to return powers to national governments from Brussels. It is unclear what that might actually look like, but it reflects growing weariness of EU bigfooting overall, which has been noted in several polls. One released last week by Open Europe and Open Europe Berlin, conducted by YouGov Deutschland, shows support among Germans for slimming down the EU. By a margin of two to one, German respondents said the next chancellor should push for decentralizing powers from the EU to national, regional, or local levels. That might be one reason that the euroskeptic Alternative for Deutschland party (Afd) nearly crossed the 5 percent threshold to make it into parliament, after just arriving on the scene this winter. They received 4.9 percent of votes. This political fragmentation in Germany might make it harder for Merkel to navigate. But Mr.
Europe shares close lower after Bullard comments
While the index applies more to the overall economy and isnt particularly tailored to the service or food industry, its one of the earliest indicators to show possible turnarounds in business trends. This is important because it affects employment, consumer confidence, and disposable incomewhich are very relevant to restaurant sales. History and background The OECD leading indicator for the United Kingdom bottomed in late 2011, and the corresponding indicator for the Eurozone turned a corner in early 2012much earlier than the alternative indicators weve examined so far. The indicator is a composite of several sub-indicators that have historically been able to help identify key turnarounds in business cycle. While the OECD group, based in Paris, uses different components to create the indicator for each country, common factors include manufacturing inventory orders, financial markets, and business confidence surveys. According to the institution, the magnitude of change doesnt translate to strength or weakness in economic growth because of how the index was constructed. So its best used as an indicator of whether economic activity will be better or worse in the medium term. Whilethe leading indicator isnt perfect, it has historically been very successful in finding key turn-ups in business cycles. The tricky part is when year-over-year growth is falling, in which case the indicator could signal a looming recession, but in reality the fall could simply mean slower growth ahead. June data shows an uptrend Year-over-year growth for the United Kingdom has been mostly flat since the end of 2012, treading around 1.5% growthwhich is neither negative nor positive, and which is something investors should look out for. The indicator for the Eurozone has been increasing steadily and now stands at 0.86% growth as of June. The indicator for Russia appears to be turning around, with the year-over-year change bottoming at -1.32% in November 2012, and the most recent data showing -0.47% for March 2013.
banks fixed-income trading revenue will probably fall 20 percent in the third quarter from a year ago, according to Atlantic Equities LLP. Federal Reserve Bank of New York President William C. Dudley and the Atlanta Feds Dennis Lockhart both said the economy still needs stimulus from the central bank. The more people who speak from the Fed in one day, the less clarity there is, Richard Sichel, who oversees about $1.9 billion as chief investment officer at Philadelphia Trust Co., said by phone. People will be hanging at every word thats said for more clues about our monetary policy. The German election was a positive and the data out of China was good news. Banks Retreat Citigroup Inc., Regions Financial Corp. and Bank of America Corp. lost more than 2 percent to lead declines in all 24 stocks in the KBW Bank Index. Richard Staite, an analyst at Atlantic Equities, cut his estimate for Goldman Sachs Group Inc.s per-share earnings by 18 percent and Morgan Stanleys by 25 percent. Staite also reduced his estimate at Citigroup Inc. by 14 percent. JPMorgan Chase & Co., the biggest U.S. bank, and Barclays Plc have told investors that third-quarter trading revenue will probably drop from a year earlier. Jefferies Group LLC said last week that revenue from fixed-income trading plunged 88 percent in its fiscal third quarter that ended Aug.
Europe fractures even as it shakes off recession
Germany’s emergence as power player Spain’s export bonanza Germany emerged as an economic force after labor reforms were implemented under its then-chancellor Gerhard Schroder. Now, its export-led economy drives the 17-nation eurozone, with Chancellor Angela Merkel — battling for third term in this weekend’s federal elections — a central figure during Europe’s crisis. Merkel’s popularity remains high in Germany, and her party, the Christian Democratic Union, is expected to gain the most votes. Merkel’s leadership during the crisis saw her named as the world’s most powerful woman by Forbes three years in a row. Efforts to combat the crisis included the implementation of bailout funds, closer fiscal cooperation and austerity measures. When asked if Germany is taking over Europe, Monti replied that the continent’s largest economy would have more dominance if it had retained the deutsche mark “because they would then become the only relevant monetary policy power in Europe.” Countries that went too far too rapidly, had bubbles Jean-Claude Trichet As it is, Germany remains shackled to the weaker countries in the euro, many of which continue to struggle with spiralling unemployment, high national debts and growing political instability. Greece, Portugal, Cyprus and Ireland have received over 400 billion euros ($534 billion) in bailout packages from the euro-area’s rescue funds. Last year European finance ministers approved a 39.5 billion euro ($51.6 billion) lifeline for Spain’s banks, struggling after the property bubble went bust. Yet Spain and Greece still have unemployment above 27%. Portugal and Ireland are also struggling with chronic unemployment. Anti-austerity protesters in the worst-hit nations have held demonstrations against government cuts and the lack of jobs, with many turning violent. DIY giant sees growth And Eurostat’s 2013 growth forecasts for eurozone nations show a growing chasm between the region’s prosperous north and its struggling south. Former mining company masters reinvention READ MORE: German Finance Minister, on the campaign trail Coffee giant eyes global expansion Germany is expected to post 0.4% growth this year while all the Mediterranean countries’ economies are likely to contract. The imbalance had created a system “where the creditor nations rule and impose their conditions and the others are subservient to that,” Paul de Grauwe, a professor at the London School of Economics, told CNN.
Europe Stocks Fall With Commodities as S&P 500 Fluctuates
The U.K. FTSE closed down 0.4 percent, the German Dax closed down 0.2 percent and the French Cac closed up 0.1 percent. Bullard emphasized in an interview with Bloomberg the role that economic data has played, and will continue to play in Fed decisions “This was a close decision here in September,” he told the network. Europe stocks started the day in negative territory, bringing an end to the broad rally which started after the Federal Reserve surprised markets by opting to maintain its $85 billion-per-month asset purchases. However, Bullard’s comments on Friday backed up the belief that the Fed still plans to taper soon. In Europe, German voters are preparing to go the polls in Sunday’s general elections . The current chancellor, Angela Merkel, is expected to win a third term in office, but the future composition of the governing coalition remains unclear. It is possible that Merkel might have to form an alliance with the rival Social Democrats party (SPD). In Asia, Indian equities led the region lower on the final trading day of the week, after the Reserve Bank of India (RBI) unexpectedly raised interest rates. India’s Sensex index closed down 1.8 percent, Japan’s Nikkei index ended just below the flatline and Australia’s S&P ASX 200 fell off the previous day’s five-year high. (Read More: India unexpectedly hikes rates, shares tumble ) Elsewhere, die-hard Apple fans in Asia and Europe lined up outside stores for the launch of the tech firm’s latest handsets. At the biggest Apple store in Asia, in Beijing, several security guards kept the line in order to avoid a repeat of the egg-throwing that marred a previous launch. Demand for the iPhone 5S in gold was keen, with the 5C seeing little interest.