US employment reaches new high as country adds 164,000 jobs in July August 2, 2019 The United States added 164,000 jobs last month, suggesting the economy is cooling but not as much as analysts had feared. The gain was well down on June’s figure of 224,000, but was roughly in line with economists’ forecasts of around 165,000 for July. Read more: FTSE 100 sinks into red on Trump’s threat to [...]
Trump tariff talk spooks Wall Street August 1, 2019 US president Donald Trump sent shockwaves through Wall Street tonight after revealing plans to slap more tariffs on Chinese goods in the latest trade battle between Washington and Beijing. In a string of tweets, Trump spooked investors after announcing 10 per cent tariffs on another $300bn (£247bn) of goods following this week’s talks between the [...]
Bank of England downgrades UK second quarter growth to zero as Brexit looms August 1, 2019 The Bank of England said UK growth ground to a standstill in the second quarter of the year due to the unwinding of Brexit stockpiling and car plant shutdowns as it chose to leave interest rates unchanged at 0.75 per cent today. In its latest gauge of the economy, released today, Threadneedle Street downgraded its [...]
Sterling tumbles below $1.21 on Fed rate cut and no-deal fears August 1, 2019 Sterling fell against the dollar today in reaction to the US Federal Reserve cutting interest rates last night and continued fears over a no-deal Brexit. Sterling fell below $1.21 today for the first time since January 2017. At the time of writing, sterling had climbed back above $1.21 and was trading at $1.2106. Read more: [...]
Standard Chartered hikes profits despite US-China trade war impact August 1, 2019 Standard Chartered boosted profits in the first six months of 2019, but warned of the impact of the US-China trade war on global market sentiment. Read more: MPs turn up the heat on Standard Chartered boss in pension pay row The figures Underlying profit before tax increased 11 per cent year on year to $2.6bn [...]
Trump hits out at Fed rates cut July 31, 2019 President Donald Trump renewed his scathing attacks on the US Federal Reserve late this evening after its chair downplayed the chances of a lengthy series of rate cuts. The central bank lowered its main federal funds target rate by 25 basis points (0.25 percentage points) to between two and 2.25 per cent tonight, marking the first time [...]
Fed cuts interest rates by a quarter point July 31, 2019 The US Federal Reserve cut interest rates for the first time since the financial crisis this evening, as it cited signs of slowing global growth for the highly-anticipated move. The central bank lowered its main federal funds target rate by 25 basis points (0.25 percentage points) to between two and 2.25 per cent, making borrowing [...]
Why it’s too risky for Mark Carney to move interest rates for Brexit July 31, 2019 The Bank of England risks upsetting the economy if it changes interest rates before there is more clarity about Brexit, some of the City’s top economists have warned. Ahead of the Bank’s key meeting tomorrow, City A.M.’s shadow monetary policy committee (MPC) has said worries over slowing economic growth are outweighed by growing concerns that [...]
Fed interest rate cut: Will Donald Trump get what he wants? July 31, 2019 The US Federal Reserve is set to cut interest rates for the first time in 10 years this evening, with the raging trade war with China and signs of slowing momentum darkening policymakers’ moods. Yet US economic growth is stronger than its peers and unemployment is at record lows, meaning the Fed will likely plump [...]
Stock markets slide as Donald Trump lashes out at China before key meeting July 30, 2019 US President Donald Trump has fired a broadside at China ahead of the two sides’ trade negotiations, criticising its economy and saying the US has “all the cards”. Read more: ‘Faulty thought process’: Trump lashes out at Fed – again The attack has sent global stock markets sliding as the tensions between the world’s two [...]