Boris Johnson would do a ‘great job’ as Prime Minister, says Trump July 20, 2019 US President Donald Trump has given his support to Boris Johnson to become Prime Minister once again by insisting he would do “a great job” if elected next week. Trump also said the pair would have “a very good relationship” speaking to reporters in Washington. Read more: ‘Faulty thought process’: Trump lashes out at Fed [...]
‘Faulty thought process’: Trump lashes out at Fed – again July 19, 2019 US President Donald Trump renewed his attack on the Federal Reserve today, saying it is due to a “faulty thought process” that it has higher interest rates than other major central banks. Read more: Donald Trump takes credit for China slowdown Trump has long been a vocal opponent of Fed policy which he thinks is [...]
Gold hits six-year high as jittery investors run for safety July 19, 2019 Gold hit a six-year high today as impending central bank rate cuts and fears about the world economy sends investors running towards “safe-haven” assets. Read more: Stocks rally as hopes grow of Fed interest rate cut Bullion rose above $1,450 (£1,160) per ounce today, its highest price since mid-2013. Gold has climbed over six per [...]
Construction market ‘patience wearing thin’ with Brexit uncertainty July 18, 2019 London’s construction market appears to be losing patience with Brexit uncertainty, as output growth gains speed and workload expectations gather pace for the year ahead. According to a quarterly industry survey by RICS, 14 per cent more respondents reported an increase in construction workloads across London in the second three months of 2019. This is [...]
US senators grill top exec over Facebook libra cryptocurrency July 16, 2019 Facebook libra, the social network’s brand new cryptocurrency, should be regulated as if it is a security, the US House of Representatives heard today. US lawmakers were due to grill Facebook executives over its libra coin today as both Democrats and Republicans prepared to scrutinise chief executive Mark Zuckerberg’s latest project. Read more: Bitocin tumbles [...]
US retail sales beat expectations as economy blows hot and cold July 16, 2019 US retail sales beat economists’ expectations in June, official figures showed today, as the economy continues to send mixed signals to policymakers at the Federal Reserve. Read more: Dollar falls as US economy adds just 75,000 jobs in May and wage growth slows American shoppers bought 0.4 per cent more goods in June than they [...]
Bitcoin continues to tumble after central banks attack Facebook’s Libra coin plans July 15, 2019 Bitcoin fell over 10 per cent over the weekend following criticism of Facebook’s proposed digital currency from powerful figures including US President Donald Trump and chair of the Federal Reserve Jay Powell. Read more: Trump dismisses bitcoin, saying cryptocurrencies aren’t money The world’s largest cryptocurrency had rebounded slightly to $10,344 shortly after 11am UK time [...]
Three big questions corporate America must answer this week July 15, 2019 The seond quarter earnings season kicks off this week as investor attention for a while shifts away from central banks to how well actual companies are performing. There are several big questions facing corporate America as we hit this important period. Earnings recession Earnings season is coming with fairly low expectations. Two weeks prior to earnings season [...]
Hackers steal $32m from Tokyo cryptocurrency exchange July 12, 2019 Services have been suspended at a Tokyo cryptocurrency exchange after a further hack on virtual currency caused the loss of ¥3.5bn (£26m). Read more: Trump reveals why he is ‘not a fan’ of bitcoin Tokyo-based Remixpoint, which runs the Bipoint Japan exchange, issued an apology today saying it had confirmed the losses last night, after [...]
Shutdown: Heathrow Airport summer strikes threaten chaos for holidaymakers July 12, 2019 Holidaymakers planning to use Heathrow Airport this summer could be subjected to days of chaos, after Unite trade union warned its members are planning to go on strike. More than 4,000 workers are set to walk out on 26 and 27 July, 5 and 6 August, and 23 and 24 August. They will include security [...]