Home price gains are accelerating again, and in some cities those values are overheating. Four of the nation’s largest cities are now considered overvalued, according to CoreLogic. Home prices in Denver, Houston, Miami and the Washington, D.C., metropolitan area now exceed sustainable levels. To determine if a market is overvalued, CoreLogic compares current prices to […]
Read moreNational factory activity continued to expand in July, building on June’s return to expansion not seen since August 2014. The U.S. manufacturing index registered 56.3 percent, coming in just below the 56.5 percent expected by economics polled by Reuters. A reading above 50 on the Institute for Supply Management’s (ISM) index indicates an expansion in […]
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Currency, United States Finance
Here are the cities competing to take EU agencies away from London post-Brexit
Brexit is happening and with it Europe needs to decide where to relocate the two European agencies currently based in the United Kingdom. Eight cities have applied to become the next host of the European Banking Authority (EBA) – an organization with 159 employees that assesses risks and vulnerabilities in the banking sector. Another 19 […]
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Euro logs best run in five years and traders predict there's more to come
The euro is trading at levels not seen since January 2015 and has posted its best run in five years as dollar weakens and the euro zone economy starts to gradually improve. On Tuesday, the euro hit a two-and-a-half year high against the dollar, trading just above $1.18 as investors look to move away from […]
Read moreThe U.K. could lose up to half of its investment banking jobs over the next few years if the government continues to pursue a hard-line exit from the EU, a new report has warned. As many as 40,000 sales and trading and investment banking roles could move from the City of London to other European […]
Read moreWorkers at the Bank of England (BOE) walked out on strike on Tuesday for the first time in five decades, over a pay dispute. Employees working in the central bank’s maintenance and security departments, will continue the industrial action over the next three days. Staff employed in the bank’s “parlors” – ground floor offices where […]
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Hedge fund Man Group's assets jump in first half, flags slower second-half
British hedge fund firm Man Group said on Tuesday that its assets under management rose 19 percent in the first half of 2017, but cautioned growth is set to slow over the next six months. Total assets under management at the end of the first half of the year were $95.9 billion, up from $80.9 […]
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BP profits hit by Angola write-off, CEO says it's preparing for 'new oil price environment'
BP beat analyst expectations on Tuesday, despite profits more than halving from the first three months of the year after a hefty charge from an unsuccessful project in Angola. Here are some of the highlights from the earnings: Underlying replacement cost profit, used as a proxy for net profit, $684 million in the second quarter […]
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AS ANYONE who flies regularly for work can attest, business travellers are not constantly being doted upon. Flights are not all booked by a travel manager, nor are never-ending drinks being poured by dutiful attendants. Indeed, corporate travel might be becoming a more independent affair. According to a recent survey, a growing number of business travellers would […]
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Russia follows China in tightening internet restrictions, raising fresh censorship concerns
Russia has passed a law banning software that allows users to view internet sites barred in the country anonymously. President Vladimir Putin signed the bill prohibiting virtual private networks (VPNs) and other technologies that anonymize users, according to the government’s website on Sunday. The law, which was approved by the Duma (Russian parliament) earlier this […]
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