RICHARD THALER has won the Nobel prize in economic sciences this year for his contributions to behavioural economics. It’s a well-deserved prize and a clarifying one, as far as economics is concerned. For a very long time, economists hoped to treat individuals a bit like particles in physics, whose activity can be described by a […]
Read moreConsumers today are more optimistic about the economy, their jobs and the housing market, but that doesn’t mean they’re buying more homes. Total mortgage application volume fell 2.1 percent last week, according to the Mortgage Bankers Association’s seasonally adjusted report. While most of the drop stemmed from a continued reduction in refinance activity, applications to […]
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The negotiations to leave the European Union are hurting the British economy by putting it under a “cloud of uncertainty,” the U.K.’s finance minister said in parliament on Wednesday. The U.K. “is fundamentally robust” and there are “some very positive things going on, with a strong outlook for the future,” Philip Hammond said. But he […]
Read moreU.S. President Donald Trump will make a working visit to Britain in early 2018, with a full state visit to follow later at an unspecified date, the London Evening Standard newspaper reported on Wednesday. Prime Minister Theresa May‘s office declined to comment on the visit, and said its position on the state visit had not […]
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Spanish Prime Minister Mariano Rajoy has said the government has agreed to formally ask regional authorities in Catalonia whether it had declared independence or not, after an ambiguous statement from Catalan President Carles Puigdement. Addressing the Spanish parliament on Wednesday morning, Rajoy said that this requirement “comes before any other measure that could be taken […]
Read moreCatalonia stopped short of making a unilateral declaration of independence Tuesday, putting the ball back in the Spanish government’s court as to what will happen next, effectively meaning that the crisis has been stalled rather than resolved, strategists noted. In a widely-anticipated speech, Catalan President Carles Puigdemont told the regional parliament that the people of […]
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European stocks look set for a positive open on Wednesday though political risk on the continent remains. The German DAX leads the charge higher, seen up 18 points at 12,967. The U.K. FTSE is set to open up 14 points at 7,553 while the French CAC looks to begin the day’s trading 8 points to […]
Read moreDallas Federal Reserve Bank President Robert Kaplan said on Tuesday that he will be assessing the progress of the U.S. economy toward full employment and looking for more signs of upward inflation as he weighs potential interest-rate hikes. “I intend to keep an open mind about removing accommodation in upcoming (Fed) meetings,” Kaplan said in […]
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Catalan leader Carles Puigdemont has set out his plans for the future of the province. The current crisis in relations between Catalonia and Spain comes after pro-separatist sentiment in the wealthy northeast region came to a head with a symbolic referendum on independence on October 1. Then, around 90 percent of the 2.26 million voters […]
Read moreAll year, the overwhelming sentiment in the housing market has been frustration. Too few homes for sale drove prices sky high and led to fierce competition among buyers, especially at the entry level. So it was a little bit more than surprising to see a sudden burst of optimism among potential homebuyers in a monthly […]
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