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System Messages

  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of views_handler_argument::init() should be compatible with views_handler::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 745.
  • strict warning: Declaration of views_handler_filter::options_validate() should be compatible with views_handler::options_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 589.
  • strict warning: Declaration of views_handler_filter::options_submit() should be compatible with views_handler::options_submit($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/handlers/ on line 589.
  • strict warning: Declaration of views_handler_filter_node_status::operator_form() should be compatible with views_handler_filter::operator_form(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/modules/node/ on line 14.
  • strict warning: Declaration of date_api_filter_handler::value_validate() should be compatible with views_handler_filter::value_validate($form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/date/includes/ on line 578.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Declaration of uc_product_handler_field_price::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/ on line 94.
  • strict warning: Declaration of uc_product_handler_field_weight::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/ubercart/uc_product/views/ on line 61.
  • strict warning: Declaration of views_handler_field_user::init() should be compatible with views_handler_field::init(&$view, $options) in /home1/finfacts/public_html/sites/all/modules/views/modules/user/ on line 48.
  • strict warning: Declaration of semanticviews_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/semanticviews/ on line 232.
  • strict warning: Declaration of views_plugin_row::options_validate() should be compatible with views_plugin::options_validate(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 135.
  • strict warning: Declaration of views_plugin_row::options_submit() should be compatible with views_plugin::options_submit(&$form, &$form_state) in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 135.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • warning: Creating default object from empty value in /home1/finfacts/public_html/sites/all/modules/views/includes/ on line 653.
  • strict warning: Declaration of views_plugin_style_default::options() should be compatible with views_object::options() in /home1/finfacts/public_html/sites/all/modules/views/plugins/ on line 25.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
  • strict warning: Non-static method view::load() should not be called statically in /home1/finfacts/public_html/sites/all/modules/views/views.module on line 879.
Weekly Summary

Weekly Summary

(December 2013) Ireland's Central Statistics Office announced that in the 12 months to September 2013, 58,000 jobs were added in the economy or 3.2%, compared to the corresponding period of 2012. Over 90% of this rise was in full-time employment, which increased by 3.8% on an annual basis. However, there was a rise of 25,000 in agricultural employment, which likely results from an understatement in early periods while almost half of the new jobs were in self-employment, suggesting that many of the number could not find proper jobs.
(November 2013) The chairman of the UK’s Co-operative Group resigned after a video sold to the Daily Mail newspaper, of Paul Flowers, the former head of the group’s banking arm, allegedly buying cocaine, days after he appeared before a committee in the House of Commons about the bank’s financial troubles. Flowers was confused about the value of the banks assets and the workers' cooperative has had to be bailedout by hedge funds for capital in return for a 70% stake. Meanwhile, Greece expects to emerge from recession next year and it forecasts a budget surplus, before interest payment on national debt, of €812m this year.
(November 2013) The Irish government choreographed what it termed an "emergency Cabinet meeting" in advance of an announcement that Ireland will exit the European Union-IMF international bailout without what was termed a "precautionary credit line." Meanwhile, the European Commission announced an in-depth review of Germany’s “high and persistent” current-account surplus and whether it is “affecting the functioning of the European economy.” Also in Europe, the Eurozone was reported to have grown by a very weak 0.1% in the third quarter.
(November 2013) In a surprise move, the European Central Bank cut the benchmark interest rate to 0.25% on Thursday. After the previous cut in May, this marks a further historic low and it came two days after the European Commission said Tuesday the UK will be the fastest-growing of the major European economies this year and next while it downgraded previous Eurozone forecasts. In the US, Twitter jumped by 73% in its first day of trading on the New York Stock Exchange and the Dow hit a new record in the week after job creation in October was better than expected despite the government shutdown. Meanwhile, SAC Capital, a once leading hedge fund has incurred total fines of $1.8bn so fare for insider trading.
(November 2013) Eurostat, the EU statistics office, said that Eurozone (EA17) seasonally-adjusted unemployment rate was 12.2% in September 2013, stable compared with August. Austria was lowest at (4.9%) followed by Germany (5.2%) and the highest was in Greece (27.6% in July 2013) and Spain (26.6%). Meanwhile annual inflation in the single currency area dropped to 0.7% - - the lowest since November 2009. In other regional news, European banks’ non-performing loans were reported to have doubled in just four years to reach close to €1.2tn with Ireland in fourth position, including exposure to foreign banks. Another report showed that Europe’s electricity is twice as expensive as America’s.
(October 2013) The European Central Bank announced that it will begin what it termed a review of the 'quality of assets' held by 128 banks in the Eurozone in November. The review or stress tests precede the ECB assuming regulatory responsibility for the biggest banks in the single currency area and will cover all asset classes. The central bank wants big banks to have core capital ratios of 8%, rather than the 7% under current regulations. Meanwhile, JPMorgan Chase on Friday agreed to pay $5.1bn to settle allegations it misled federal mortgage-finance agencies Fannie Mae and Freddie Mac about the quality of residential mortgages America's biggest bank sold them. This agreement was part of an estimated $13bn deal agreed between the bank and the US Justice Department. A total of $4bn will resolve allegations that the nation's largest bank violated federal and state securities laws in connection with $33.8bn in mortgages sold to the mortgage agencies by JPM's Bear Stearns and Washington Mutual units, which were acquired in 2008 during the financial crisis.
(October 2013) The Economist says on Ireland's budget for 2014 this week: [“TOO long a sacrifice can make a stone of the heart,” said Michael Noonan, Ireland’s finance minister, quoting Yeats, to justify an easing of austerity measures when he presented his 2014 budget to the Irish parliament on October 15th. This time the government inflicted less fiscal pain than it had originally planned. Austerity fatigue is growing among the public. And relations between the coalition partners, Fine Gael and Labour, are starting to fray. The two parties are keen to avoid any repeat of 1987, when they were also in a coalition and failed to tackle an earlier Irish economic crisis. At that time the government broke up after a disagreement over the budget -- and Fianna Fáil came back into power.]
(September 2013) The Federal Reserve surprised investors by retaining its $85bn purchases of Treasury and mortgage bonds a month, after expectations that it would announce a start to the tapering of its asset-buying programme at its September meeting. The continuance of easy money pushed stockmarkets to record highs.
(September 2013) The week was marked by two big mobile deals: Verizon, the American telco, agreed to buy the 45% stake held by Vodafone in Verizon Wireless, the pair’s joint venture in America, for $130bn. Vodafone’s shareholders benefit, from an $84bn payout in cash and shares. In the second big deal of the week Microsoft moved to strengthen its mobile devices and services business by agreeing to pay €3.8bn ($5bn) for Nokia’s handset division, which makes smartphones based on Windows. Nokia will continue as a telco equipment supplier and 32,000 of its staff will transfer to Microsoft, including Stephen Elop, who was its chief executive. He had joined Nokia from Microsoft.
(September 2013) Zurich Insurance Group was thrown into turmoil by the suicide of its CFO and the firm said Friday it would launch an investigation after revealing its late finance chief had named Josef Ackermann, who resigned as chairman, in his suicide note. Zurich said its board of directors will now open an investigation into "whether there was undue pressure" placed on Pierre Wauthier, Tom. de Swaan, the acting chairman, said. He didn't say when the investigation would start or was expected to finish.