Fed rate cuts in question as US job gains defy expectations July 5, 2019 The US economy defied expectations and added 224,000 jobs in June, according to official figures, after adding just 75,000 in May. Read more: Global stock markets rise after positive noises from US economy The rise in the non-farm payroll was significantly higher than the 160,000 figure economists had predicted. But the unemployment rate ticked up [...]
FTSE 100 hits 11-month high on interest rate cut hopes July 3, 2019 The UK’s FTSE 100 stock index has hit an 11-month high today, boosted by the growing chances of interest rate cuts, a falling pound, and hopes of a resolution to the US-China trade war. Read more: Dollar falls as Fed holds interest rates but strikes dovish tone Meanwhile the pound has fallen to its lowest [...]
Deutsche Bank considers cutting up to 20,000 jobs June 28, 2019 Deutsche Bank is contemplating cutting between 15,000 and 20,000 jobs from its global equities division according to reports from Bloomberg and the Wall Street Journal. The news, revealed on Friday, would mean around 20 per cent of the company’s global workforce lose their jobs. Read more: Bank of Ireland sells UK credit card portfolio to London [...]
Sam Torrance: Reavie’s Travelers Championship win shows the importance of staying power in golf June 24, 2019 Chez Reavie would have been delighted with his third-place finish at the US Open a few weeks ago, but his victory at the Travelers Championship on Sunday was something special for the American. Reavie had gone nearly 11 years without a PGA Tour win – a period spanning 250 tournaments and 3,983 days – but [...]
Trump says Federal Reserve ‘doesn’t know what it is doing’ June 24, 2019 US President Donald Trump has once again attacked his country’s central bank, saying on Twitter that the Federal Reserve “doesn’t know what it is doing”. Read more: Trump says he could demote Federal Reserve chair Jay Powell Trump’s tweets come a week after the Fed opted to hold interest rates between 2.25 and 2.50 per [...]
Trump says he could demote US Fed chair Powell but has not threatened to do so June 23, 2019 US President Donald Trump said he has the power to demote US Federal Reserve chair Jerome Powell, but has not threatened to do so. “I didn’t ever threaten to demote him,” Trump said in an NBC interview broadcast yesterday. “I’d be able to do that if I wanted to, but I haven’t suggested that.” Trump [...]
Global stock markets on track for best first half in 20 years June 23, 2019 Global stock markets are on track for their best first-half performance in over 20 years, with US shares hitting record highs last week. Read more: Global stock markets jump as Trump announces Xi Jinping meeting The stock market expansion comes thanks to central banks around the world signalling they will cut interest rates or launch [...]
Gold hits five-year high on dovish Fed June 20, 2019 Gold prices hit a five-year high today after dovish signals from the US Federal Reserve put pressure on the dollar. Spot gold hit $1,380.96 per ounce, its highest peak since March 2014. Read more: Gold, the Federal Reserve, and the dollar – what’s driving up precious metal prices? It follows a a rise of around [...]
Fed holds interest rates but hints at future cuts June 19, 2019 The US Federal Reserve has kept interest rates on hold but suggested it could cut them in the future, in its first decision since the Trump administration ratcheted up tariffs on China. Read more: US inflation tepid ahead of Fed rates decision Fed policymakers dropped language about being “patient” over future rate hikes from their [...]
UK inflation rate hits Bank of England target: Will Carney raise rates? June 19, 2019 The UK’s Consumer Prices Index (CPI) inflation rate fell to two per cent in May, in line with the Bank of England’s target, the latest figures show. CPI inflation dropped to within the target range set by Bank boss Mark Carney from 2.1 per cent in April, the Office for National Statistics (ONS) said today. [...]