Under the heading of "He's back" . . . .
El Pistolero, aka Alberto Contador Velasco is back after his suspension and racing the Tour of Benelux before his first La Vuelta a España. Let's see what he can do clean.
|Tour of Benelux|
- Australia RBA Cash Rate Announcement: Unchanged at 3.50% for August as expected
- United Kingdom Industrial Production: Expected decline -4.3% yoy
- Germany Factory Orders: Expected -0.8% mom
- Switzerland Harmonised CPI
- US Consumer Credit
- Italy GDP
I used work in the Standard Charter Bank building in Singapore. I always thought the employees getting of at the floors the bank dealt from looked very boring. Obviously according to the uS Government I was completely wrong. It seems like my neighbors were actually up to all sorts in the form of moving around money for the Islamic Republic of Iran. I only mention this because of this great quote from the FT:
One Standard Chartered director allegedly told a colleague: “You f---ing Americans. Who are you to tell us, the rest of the world, that we’re not going to deal with Iranians?”
That's just great. I believe the management consultant gurus call this an institutional attitude problem.
And finally some good news. We know that Australian retailing has had a slight up turn due to compensation cheques hitting the streets meant to balance out the carbon tax effect on lower paid citizens (aka defecting voters of the ruling party). Now comes the news that the GBP 5bn paid out in compensation to UK households mis-sold mortgage insurance is helping in the exact same way. By the end of the year these payments could increase GDP by 1%.