US businesses’ costs swell at record pace as inflationary pressures build across the pond January 13, 2022 US businesses’ costs are swelling at a record pace, adding fuel to the inflationary fire burning across the pond, reveal official figures released today. Prices for materials used by American firms are 9.7 per cent higher than were a year ago, the highest calendar year increase since the US Bureau of Labor Statistics started tracking [...]
Golf the latest sport to get Netflix documentary treatment January 12, 2022 Golf has become the next sport to receive the drama documentary treatment from streaming service Netflix. In a statement, Netflix said: “Netflix is teaming up with the PGA Tour and golf’s major championships for a documentary series that will follow the lives and stories of the world’s top professional golfers across the 2022 season. “From [...]
Near-four decade high US inflation print piles pressure on Federal Reserve to act January 12, 2022 Inflation in the US is roaring at the fastest rate since 1982, piling pressure on the Federal Reserve to act now to tame the soaring cost of living across the pond. Prices are seven per cent higher than they were a year ago in December, according to official statistics published by the US Bureau of [...]
US economy ‘no longer needs’ stimulus, declares US Fed chief January 12, 2022 The US economy “no longer needs or wants” ultra-stimulative monetary policy, the chief of the Federal Reserve said yesterday. Jerome Powell told US lawmakers, who were grilling him before deciding on whether to back him to stay in charge of the world’s most influential central bank, that the American economy is strong enough to absorb [...]
Rate lift off to boost Wall Street banks’ bottom lines this year as investors eye earnings season January 11, 2022 The US Federal Reserve flexing its inflation fighting muscles this year by hoisting interest rates rapidly is set to boost Wall Street banks’ bottom lines in 2022. The likes of JPMorgan, Goldman Sachs and Citi are in line to benefit from Fed chair Jerome Powell leading the fight against a spiralling cost of living across [...]
Exclusive: ‘Omicron is a reminder the world is only as good as the weakest link in the vaccination chain,’ says abrdn exec January 11, 2022 Ongoing inflationary shocks, questions around interest rates and the emergence of the new Omicron Covid variant are all making navigating uncertainty more challenging. Nonetheless, when we look beyond the headlines, there remain some reasons for optimism going into 2022, according to Richard Dunbar, head of multi-asset research at global investment giant abrdn. Square Mile-based Dunbar [...]
FTSE: Markets heading for higher open today after NASDAQ recovers from 10-week lows January 11, 2022 Of the six trading days so far of 2022 the Nasdaq 100 has declined for four of them, falling to a 10-week low yesterday and into correction territory in the process, although it was able to finish slightly higher on the day, as buying interest started to come back in. On that score it was [...]
Buckle up: Wild ride on Wall Street as rate rise talk spooks investors January 10, 2022 An explosive Goldman Sachs note triggered a day of drama on Wall Street today after the investment bank warned of as many as four US Fed rate rises in 2022 alone. The tech-heavy Nasdaq crashed by as much as 2.7 per cent in early trading, tipping it briefly into correction territory. A late rally saw [...]
US Federal Reserve to launch rate hike spree in 2022 January 10, 2022 The US Federal Reserve will launch a hiking spree this year as the world’s most influential central bank zeroes in on spiralling inflation in America, according to City analysts. The Fed will hoist interest rates at least four times in 2022 in a bid to tame red hot price rises that are already seeping into [...]
An eyebrow-raising week in the world of cryptocurrency January 10, 2022 Data from CryptoCompare shows that the price of Bitcoin started last week at around $46,000 and saw a significant sell-off throughout the seven days.