Goldman Sachs agrees to pay $15m over improper securities lending practices January 14, 2016 Investment banking giant Goldman Sachs has agreed a $15m (£10m) settlement with US regulators over charges that its securities lending practices broke regulations. The Securities and Exchange Commission (SEC) said broker-dealers such as Goldman Sachs are regularly asked by customers to locate stock for short selling – a process where an asset is borrowed, sold, and [...]
Greece accepts IMF role in bailout programme as Eurogroup takes stock of progress January 14, 2016 The Greek government has accepted that the International Monetary Fund (IMF) will be part of its new bailout. Prior to a Eurogroup meeting – a meeting of Eurozone finance ministers – Dutch finance minister Jeroen Dijsselbloem told reporters that his Greek counterpart Euclid Tsakalotos "confirmed to me that the Greek government accepts that the IMF needs to be part [...]
European markets dragged down by car makers January 14, 2016 European stock markets lost more ground today. The German Dax closed down 1.67 per cent, lead by a 2.5 per cent drop in Volkswagen shares. It was the lowest close for the main German index since October last year. The French Cac 40 fell 1.8 per cent, with Renault and Peugeot among the top three fallers. [...]
European Central Bank minutes reveal strong split on decision to boost stimulus January 14, 2016 European Central Bank (ECB) officials were divided on the decision to boost stimulus measures in their December meeting, details of the decision published today reveal. The minutes of the meeting revealed some members of the governing council thought the recovery was well underway and that further easing would come with negative side effects. On the day, [...]
US Federal Reserve’s James Bullard airs concern over drop in inflation expectations January 14, 2016 A recent decline in US expectations of inflation is "worrisome" and may delay inflation returning its two per cent target, according to one US rate-setter. “Headline inflation will return to target once oil prices stabilise, but recent further declines in global oil prices are calling into question when such a stabilisation may occur,” said James Bullard, president [...]
GoPro share price dives after camera company announces disappointing sales and staff cuts January 13, 2016 Shares in wearable camera company GoPro dived 22 per cent in after-hours trading yesterday after the company estimated revenue would be below expectations. GoPro said it is expecting sales revenue of $435m (£301m) for the final three months of 2015, below analysts' expectations. Shares dropped to $11.22. “Fourth quarter revenue reflects lower than anticipated sales of its capture [...]
Record Powerball jackpot: Five things you can spend £1bn on January 13, 2016 The US Powerball winner (if there's only one) will receive a record jackpot of $1.5bn. That's about £1bn. If you're stuck for what you would spend it on, here's some tips. 1.Build a couple of Shards The contract cost of the Shard had set the developers back £435m by the time it was completed in 2012. 2.Buy a challenger [...]
S&P 500 drops below 1900 for the first time since October January 13, 2016 The S&P 500, an index of US companies, has fallen below 1900 points for the first time since September. The index, which entered the new year over 2000, has fallen victim to a global rout in equity prices that has been triggered by volatility in Chinese financial markets. It is currently down 2.31 per cent on [...]
Qatari-owned Al Jazeera America to close as oil price hits lowest levels since 2003 January 13, 2016 Multinational media conglomerate Al Jazeera will be shutting down its US operation Al Jazeera America (AJAM), the company has said today. "While Al Jazeera America built a loyal audience across the US and increasingly was recognised as an important new voice in television news, the economic landscape of the media environment has driven its strategic decision to [...]
US Federal Reserve’s Eric Rosengren says slowing growth and stock market swings pose threat to rate hike path January 13, 2016 Threats to US economic growth are rising, one of the country’s interest rate-setters has said, and could mean rates will rise a slower pace this year. “Stock markets in much of the world began the year on a decidedly weak note, with declines in the Chinese stock market generating particular attention. These declines have been [...]