US Federal Reserve cuts interest rates by a quarter point September 18, 2019 The US Federal Reserve has cut interest rates for the second meeting in a row amid concerns about a global economic slowdown, in a move which was largely expected by economists. The central bank lowered its main federal funds target rate by 25 basis points (0.25 percentage points) to between 1.75 and two per cent, [...]
Fed injects over $100bn after key borrowing rate hits all-time high September 18, 2019 Pressure on a crucial US money market has eased after the Federal Reserve injected $75bn (£60bn) following a spike in short-term borrowing rates to record highs. Read more: Donald Trump demands ‘boneheads’ at Fed slash rates to zero Borrowing costs in the repurchasing – or repo – market soared to as high as 10 per [...]
US industrial production beats expectations with strong growth in August September 17, 2019 US industrial production bounced back in August after falling in July, official figures have shown, in the latest sign that the economy is performing better than its major peers. Read more: US manufacturing sector shrinks for first time in three years, survey shows Industrial production rose 0.6 percent in August month on month, the US [...]
Donald Trump lashes out at ECB over euro’s fall September 12, 2019 US President Donald Trump has reacted furiously to the euro’s fall against the dollar following the European Central Bank’s (ECB) decision to cut interest rates for the first time in over three years. Read more: Donald Trump demands ‘boneheads’ at Fed slash rates to zero The euro fell as much as 0.7 per cent following [...]
European stocks rise after Donald Trump delays China tariffs September 12, 2019 European stock markets have risen soon after the opening bell following US President Donald Trump’s decision to delay tariff increases on Chinese goods by two weeks. Read more: China exempts some US goods from further tariffs ahead of talks Trump tweeted: “At the request of the Vice Premier of China, Liu He, and due to [...]
Seeing, but not believing: The threat from Deepfake videos September 12, 2019 Both traditional and social media lit up earlier this year following the launch of a ground-breaking campaign for charity Malaria No More which was fronted by David Beckham. In this 55-second video ad, the football star makes a passionate appeal for support. He makes it, however, in nine different languages. No, David Beckham has not [...]
Donald Trump demands ‘boneheads’ at Fed slash rates to zero September 11, 2019 US President Donald Trump has called US Federal Reserve policymakers “boneheads” and demanded that they drop interest rates to zero “or less”. Read more: Fed will ‘act as appropriate’ to keep US expanding, says chair Jay Powell Trump said close-to-zero interest rates would let the US refinance its debt, meaning replace its existing debt with [...]
US adds 130,000 jobs in August as trade war slows growth September 6, 2019 The US added a modest 130,000 jobs to the economy in August, as its trade war with China finally appeared to take a toll on hiring. The figure fell to just 96,000 jobs excluding government recruitment last month, the lowest number since May. Read more: Sterling falls as investors remain cautious ahead of US jobs [...]
Labour MPs attempt to reintroduce old Brexit deal September 3, 2019 A number of Labour MPs are seeking to reintroduce the old Brexit agreement, struck during Theresa May’s leadership, in the hope of blocking a no-deal. Stephen Kinnock and a team of 17 MPs including Gloria De Piero, John Mann, Caroline Flint and Sarah Champion, who argue that a further extension will “leave the most of [...]
US manufacturing sector shrinks for first time in three years, survey shows September 3, 2019 The US manufacturing sector shrank for the first time in three years in August, according to a respected industry gauge, as trade tensions and a global economic slowdown weigh on factory output. Read more: Donald Trump says China talks going well and turns fire on EU The purchasing managers’ index (PMI) from the Institute for [...]