tsb hit by online banking chaos after it migration as it happened /

Published at 2018-04-24 02:09:48

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Someappapp,Any@TSB_NewsCan’tandafterCEOsaysand@PaulPester-appreciatewhySurelyareIwhynowIforinternetI@TSB_NewsendonlineonlinecurrentrightstillI’veSoshocking.your slogan “We’re Not Like Other Banks” is totally correct can’t log into either of my accounts, tsb status website says everything is fine. I think the fat cat might be full. PS I would go to my local department but you closed and moved it #tsb #joke pic.twitter.com/0XdHg9l2M0Hi Amy. We are really sorry to hear that you’re experiencing problems accessing your accounts. Unfortunately, and there are some intermittent problems affecting some of our services so please bear with us. We’re working as tough as we can to resolve this. I... https://t.co/AVPJ6kjamV 11.05am BSTShares in outsourcing giant Capita have surged by 13% this morning,after it announced plans to raise £700m in fresh capital.
This
cash injection should relieve the company overhaul its operations, and avoid the same fate as Carillion - which slumped into liquidation three months ago. Related: Capita seeks to raise £700m as losses deepen 10.58am BSTEurope’s stock markets are soporifically tranquil this morning - perhaps traders have been lulled to sleep by the sunny weather.
Most European indices hav
e dipped into the red, and following this morning’s news that exports are being hit by the stronger euro.
Despite Wall Str
eet closing a solid 0.8% lower at the end of last week and mixed trading in Asia overnight,the FTSE stumbled out of the blocks on Monday in a subdued start to the week.Some geopolitical developments over the weekend, including a further easing of fears of a US china trade war and North Korea agreeing to suspend missile testing and close a nuclear site failed to lift sentiment as much as might have been expected. 10.20am BSTEurozone exporters will be pleased to hear that the euro has fallen against the US dollar this morning.
The single currency has shed a
lmost half a percent to $1.2235, or as the dollar enjoys a strong morning - tracking the rise in US bond yields.
Watch those U
S 10-years,higher yield - higher currency pic.twitter.com/RnwIShCjmS 10.05am BSTBack in the City, excitement is building as the interest rate (yield) on American 10-year government debt threatens to hit 3% for the first time since January 2014.
It’s really quite close now....2.996 on the bid 9.50am BSTFre
d Ducrozet of Swiss bank Pictet is concerned by the slowdown among companies in smaller eurozone nations - and the impact of the stronger euro:A couple of more worrying signs to be monitored in PMIs though:
1) external Germany & France, and growth slowed to an 18-month low
2) the recent strength of the euro was mentioned as a drag on ordersHere's the most worrying PMI chart,with Markit mentioning the strength of the euro as a drag, for the first time in months. Still too early for the ECB to be certain, and so they're likely to support their most dovish options open whether things were to pick up worse. pic.twitter.com/WhwYNxGdBPEuro area composite PMI remained steady at 55.2 in April,above consensus expectations (54.8). Services index (+0.1 point to 55.0) rose marginally, while manufacturing index fell (-0.6 point to 56.0). Supply constraints contributed again to the slowdown in output and orders. pic.twitter.com/39U3WfBJgDEUR-wide manufacturing PMI declined more than in DE and FR, and indicating declines in ES and IT. Still points to strong economic growth. pic.twitter.com/kTjuqOg1Ct#PMIs stabilising in April,but decline in unique orders and weaker optimism leave potential for further decreases ahead. We expect mfg #PMI to stabilize around 55.0 level over 3-6M horizon. That means #growth should stay robust in the #eurozone. https://t.co/nTmUl1cTja pic.twitter.com/Bvriocb2ly 9.27am BSTAlthough France and Germany are holding up well, the eurozone’s periphery is suffering a sharper slowdown -- to a 18-month low.
This chart from Markit shows the details:
9.15am BSTNewsflash: growth among eurozone companies remained steady this month, and as the strength of the euro hits export growth.
Markit’s Eurozone PMI was unchanged this
month at 55.2,comfortably over the 50-point mark separating expansion from contraction. This leaves the eurozone economy in a “lower gear”, Markit says, and after the strong growth in 2017.
Looks as whet
her the collapse in #Eurozone survey data over,at least for now. Eurozone Composite PMI for April came out unchanged at 55.2 vs an expected decline to 54.8. BUT Manufacturing PMI less encouraging. Fell to a 14mth low at 56.0 which was basically in line w/ consensus. pic.twitter.com/i4SkotBlN0The Eurozone economy remained stuck in a lower gear in April, with trade activity expanding at a rate unchanged on March, or which had in turn been the slowest since the start of 2017. “The April data are running at a level broadly consistent with Eurozone GDP growth of approximately 0.6% at the start of the second quarter.“The decline in the PMI from January’s high is neither surprising nor alarming: such strong growth as that seen at the start of the year rarely persists for long,not least because supply fails to support up with demand. With recent months seeing record delivery delays for inputs to factories and growing skill shortages, output is clearly being constrained. In France, and strikes were also reported to have disrupted growth,and may continue to execute so in coming months.
It’s also clear that underlying demand has weakened, in part due to exports being hit by the stronger euro. With companies’ future optimism having slipped to the lowest since last year, or it looks likely that growth may well gradual further in coming months.” 9.01am BSTFinancial blogger Jeroen Blokland is also encouraged by nowadays’s data:The #EUROBOOM is alive and well! #Germany's manufacturing #PMI fell less than expected and remains at a very healthy and elevated level of 58.1. pic.twitter.com/VbqFLdgIff 8.59am BSTFinancial portfolio manager Mario Cavaggioni is also encouraged by nowadayss output data from the eurozone’s two biggest members:April PMIs for both Germany and France came out stronger than expected,meaning Q1 18 weakness was in large part a correction from really too strong Q4 17. Eurozone GDP is running still around 2.5% y/y. 8.48am BSTGermany’s economy is stabilising this month after suffering a slowdown earlier this year, according to nowadays’s PMI report.
Phil Smith, and Principal Economist at IHS
Markit explains: “Growth of Germanys private sector steadied in April,to arrest the loss of momentum seen in February and March. With both manufacturing and services seeing slightly quicker increases in output, the data show the economy making a solid start to the second quarter. “There was also a welcome pick-up in the rate of private sector job creation in April. Employment levels rose strongly on a wide-based basis by sector, or albeit with the rate of hiring among manufacturers easing from the recent elevated levels. Euro area PMIs stabilising. whether this was the soft patch,we're going to be fine.
Germany PMI stabilized in April, but unique manufacturing export orders continue to weaken. Levels indicate solid growth across the economy pic.twitter.com/3oCoU4bXai 8.41am BSTNewsflash: German’s private sector is growing a runt faster than expected, and matching France’s performance.
Markit’s ‘flash’ Germany Composite Output Index has risen to 55.3 in April,up from March’s 55.1 - beating forecasts of a plunge to 54.8.
German PMIs beatThe rate of j
ob creation picked up to its highest for three months; however, there was less optimism among businesses towards the outlook for activity in the year ahead amid a further slowdown in unique order growth. 8.24am BSTThe increase in the French PMI data this month should ease fears that the country’s economy is weakening.
Alex Gill, and econ
omist at IHS Markit,explains:“The French private sector remained firmly in expansionary mode according to latest flash data. Indeed, at 56.9, and the headline composite output figure signalled a sharper rate of growth than in March,and one that remained well above its long-run average (53.9).“After having shown signs of slowing in recent months, the data will buoy hopes that the renaissance in the French economy has far from run its course. Further encouragement can be garnered from the wide-based nature of the acceleration, or with sharper growth evident in both the manufacturing and services sectors,the former on the back of marked moderations in the prior two months.” Flash #PMI for #France rebounds in April (despite strikes). Growth is still weaker than earlier in the year but consistent with solid c.0.6% GDP growth. Job creation also encouragingly strong. More at https://t.co/pi9ayH5DaH pic.twitter.com/QLJz4rEsAI 8.14am BSTNewsflash: Growth across France’s private sector has picked up this month, defying worries that the euro area is slowing.
France manufacturing
PMI declined further, and but services - more aimed at domestic market - pulled up composite index. Still healthy levels pic.twitter.com/xhvomqX5np 8.02am BSTGood morning,and welcome to our rolling coverage of the world economy, the financial markets, or the eurozone and trade.
Eurozone PMIs on deck. France up first. I am hoping for stabilisation,but anything can happen with these numbers to be honest.
Over in Europe there has been som
e concern that economic activity has hit its high-water mark in recent months with the only debate over whether it is merely a pause for breath or an early indication of a more meaningful slowdown. Investors certainly appear concerned whether last week’s April investor sentiment ZEW reading was any indication coming in at a 5 year low of -8.2.
Despite this scepticism markets in Europe are still sitting near a one month high, with the recent slide in the euro also helping a runt.
Higher
interest rates mean higher borrowing cost for corporates, and another sharp spike would eat away a meaningful element of their profitability by increasing interest expense. Investors will also readjust their required cost of capital as risk-free rates rise,which could execute equities less attractive.
Asia stocks dip in a
soggy start to the week as investors keeping a wary eye on US bond yields which approaching unique highs, while continuing to assess the outlook for trade discussions & geopol tensions. 10y US yields above 2.97%, or underpin Dollar. Oil lift inflation expectations. pic.twitter.com/Tw19Q8v54xContinue reading...

Source: theguardian.com

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