China’s economic crisis and the global market turmoil spooks central bankers August 27, 2015 Traders on red alert for a prolonged period of cheap money (Source: Getty) Global market turbulence is causing central bankers on both sides of the pond to shy away from any tightening of monetary conditions – putting traders on red alert for a prolonged period of cheap money. American rate-setter Bill Dudley [...]
Playtech profits grow ahead of Plus500 acquisition August 27, 2015 Playtech reports strong growth in profits ahead of its acquisition of Plus500 The figures Playtech reported revenue of €286m (£210m) for the first half of 2015, a 33 per cent increase on the same period last year. Adjusted net profit was up 19 per cent at €119m, compared to €96.8m in the first half of [...]
US stocks rise sharply as investors recover from China panic August 26, 2015 US stocks surged upwards today, bringing an end to six consecutive days of declines. Read more: US markets rise but FTSE closes lower as China uncertainty continues At close, the S&P 500 was up 3.9 per cent, while the Dow Jones Industrial Average and Nasdaq ended the day 3.96 per cent higher and 4.24 per [...]
September interest rate hike looks “less compelling” in light of China slowdown, says Fed policymaker William Dudley August 26, 2015 A September interest rate rise by the Federal Reserve is now “less compelling”, according to William Dudley, President of the central bank's New York office. "From my perspective, at this moment, the decision to begin the normalization process at the September FOMC meeting seems less compelling to me than it was a few weeks [...]
UK housing market: Remortgaging spurred on by Bank of England interest rate hike threat August 26, 2015 Remortgaging has surged as the prospect of an interest rate rise leads homeowners to lock in better deals. The number of people switching to lower rates was 29 per cent higher in July than in the some month last year, figures released yesterday by the British Bankers’ Association (BBA) showed. “Savvy homeowners are snapping up [...]
YouTube gives Twitch a run for its money with a new live gaming service August 26, 2015 After months of development, YouTube Gaming has officially been launched. Read more: Twitch – what is it and why has Amazon just spent nearly $1bn on it? The live-streaming video gaming service, which comes as an app and a website, will take on rivals such as Daily Motion and Amazon-owned Twitch. Google, which [...]
The Globe of Economic Complexity: Compare all the world’s economies on this digital map August 26, 2015 A map created by Harvard University researchers visualises the trillions of dollars worth of trade exchanged between all the world's economies. Read more: UK named world's fifth biggest economy thanks to sex and drugs boost Called the Global Map of Economic Complexity, it uses illuminated dots to represent each export from a given country. [...]
NY Federal Reserve’s Bill Dudley: Interest rate hike in September is now less compelling August 26, 2015 To hike or not to hike? That is the question. Bill Dudley, chair of the New York Federal Reserve, has suggested the interest rate rise we all thought was coming in September is now "less compelling", thanks to the market volatility which has caused equities to swing wildly over the past few days. Read more: US [...]
As global markets selloff continues, here’s what seven analysts think of today’s market turmoil August 26, 2015 Market turmoil is widespread today, with gains being wiped off indices in Asia, European markets opening lower, and the FTSE 100 edging towards 6,000. What do analysts make of the developments? Here's a round-up: 1. "The news propped up a malaise in markets" – Bernard Yaros, Moody’s Analytics The release of the weakest Chinese manufacturing [...]
Paddy Power share price rises as revenue jumps despite increases in tax and regulation August 26, 2015 Paddy Power reported revenue of €80m (£58.4m) in the first half – as it said it expects to exceed analysts' expectations for year-on-year profit growth. The company's shares rose 18 per cent to €91.86 as it unveiled plans for a merger with rival Betfair. The figures Operating profits at the company rose €80m in the six months [...]