Google owner Alphabet has just been upgraded to AA+, S&P’s second highest rating level February 22, 2017 Google parent Alphabet has been upgraded by Standard and Poor's, with analysts citing strong operating performance and conservative financial policy. Alphabet now holds a rating of “AA+”, one notch below the rating agency's top level of AAA, which is held only by Microsoft and Johnson & Johnson. S&P said the rating was a function of [...]
Fed policymakers prepare to hike interest rates “fairly soon” February 22, 2017 Federal reserve policymakers have hinted that it may be time to raise US interest rates again – “fairly soon” – if jobs and inflation continue to meet expectations. Minutes from the 31 January meeting, which saw the American central bank keep rates unchanged, also reflected uncertainty, with some attendees raising concerns that it may be “some [...]
Bank of England official lashes out at online “echo chambers” and “fake news” in defence of experts February 22, 2017 A top Bank of England official has hit out at the rise of “fake news” in a strident defence of the role of experts in society. Speaking at the Oxford Union, BoE deputy governor for markets and banking Minouche Shafik laid out the need for “an agenda for rebuilding trustworthiness”. Shafik said that the rise of [...]
The WTO’s trillion dollar trade deal has now come into force February 22, 2017 A new trade deal set to boost global trade by $1 trillion (£800bn) a year has come into force. The Trade Facilitation Agreement streamlines customs procedures, and was first created in the World Trade Organisation’s 2001 talks in Doha. WTO director general Roberto Azevedo called the TFA “the biggest reform of global trade this century”. [...]
Nasa has discovered a new solar system, where life could exist on three separate planets February 22, 2017 The boffins at Nasa have discovered three habitable planets in a newly discovered solar system a mere 39 light years away from Earth. In an announcement today, astronomers said they had found seven planets, all roughly the same size as Earth, orbiting a dwarf star, catchily named TRAPPIST-ONE. The six planets closest to the star all lie in [...]
Emmanuel Macron has won a big endorsement for his French presidential campaign and the markets seem to like it February 22, 2017 French presidential candidate Emmanuel Macron has received another boost in a busy week, after being endorsed by veteran centrist Francois Bayrou, with the markets welcoming the move. Macron was in London to speak to Prime Minister Theresa May only yesterday, and today won the backing of Bayrou, helping his bid to move clear of centre-right Republican Francois Fillon [...]
Sajid Javid has just signalled a Budget concession on business rates February 22, 2017 Communities secretary Sajid Javid has today signalled a government concession on support for firms facing substantial hikes in business rates later this year. The government has previously promised a £3.6bn package for transition measures, but Javid said today that he was working closely with chancellor Philip Hammond on demands for further support. Despite defending the incoming [...]
Did Labour deputy leader Tom Watson perform a Parliamentary “dab”? February 22, 2017 Prime Minister's Questions resumed today after a brief break – and with two by-elections taking place tomorrow, it was a crucial session. But it wasn't quite business as usual. Because it looks an awful lot like Labour's deputy leader Tom Watson performed a little dance move from his seat in the House of Commons. Deputy Labour [...]
Labour vows to fight for a “manufacturing renaissance” in Brexit February 22, 2017 Shadow chancellor John McDonnell will today vow to put the UK's manufacturers at the heart of Labour's Brexit planning. Speaking at the national conference of manufacturer's association EEF in London, McDonnell will promise to develop a “British Mittelstand”, in reference to the mid-sized businesses sometimes held up as the core of Europe's economy. The shadow chancellor [...]
Wall Street rally continues as US stocks reach fresh record highs February 21, 2017 US stocks hit new record highs off the back of strong earnings from retail giants Wal-Mart and Home Depot, as well as optimism over the economic plans of President Donald Trump. Wal-Mart's shares increased more than any other in the Dow Jones Industrial Average, rising 3 per cent after it reported higher-than-expected US sales. Home Depot shares gained [...]
