Trade tensions dent China’s exports and imports in June July 12, 2019 China’s exports and imports fell last month, as a tariff standoff with the US took its toll on the economy. The Chinese trading outlook waned in June, according to new figures that underline the country’s current growth troubles. Read more: Hunt is right to take a firm line on China China’s customs department reported today [...]
Bank of England could cut interest rates to near zero in no-deal Brexit July 12, 2019 Interest rates could be cut to almost zero if Britain leaves the European Union without a deal, a top official at the Bank of England said today. Gertjan Vlieghe, a member of the Bank’s rate-setting monetary policy committee (MPC), told an audience in London today that Threadneedle Street might have to slash rates to nearly [...]
Trump dismisses bitcoin, saying cryptocurrencies aren’t money July 12, 2019 The UK ambassador, the chair of the Federal Reserve and even the star player on the US women’s soccer team have all fallen victim to Donald Trump’s ire in recent weeks. But last night the President used his Twitter account to aim his sights at a rather different target: bitcoin and Facebook’s new proposed currency, [...]
Sterling edges higher on UK no-deal Brexit preparations as FTSE 100 sheds gains July 11, 2019 The pound rose 0.35 per cent against the dollar as the greenback slipped again today after falling on yesterday’s comments from Federal Reserve chair Jerome Powell. Powell said “trade tensions and concerns about global growth” have weighed on the US’ economic outlook, making a rate cut more likely. Read more: Mark Carney is ‘too busy’ [...]
World markets rally amid growing hopes of Fed interest rate cut July 11, 2019 FTSE and other European markets enjoyed a bump this morning as expectations of an interest rate cut in the US mounted. Caution expressed yesterday by the chairman of the US Federal Reserve, Jay Powell, has been interpreted as a likely nod that rate cuts would happen at the end of this month. Read more: Powell [...]
Bitcoin extends losses after Fed chair criticises Facebook’s Libra July 11, 2019 Bitcoin has fallen over five per cent this morning following comments from US Federal reserve chair Jay Powell that Facebook’s Libra currency should be halted. Read more: US stocks hit record highs after Fed chair hints at rate cuts Powell told a congressional committee yesterday that Libra, which Facebook labels a cryptocurrency, “cannot go forward” [...]
US stock markets hit record highs as Fed chair hints at rate cuts July 10, 2019 Chairman of the US Federal Reserve Jay Powell has boosted the market’s expectations that the first interest rate cut in ten years will come this month with a gloomy testimony to a congressional committee. Read more: Fed holds interest rates but hints at future cuts In a prepared statement Powell said “trade tensions and concerns [...]
Women’s World Cup 2019: Was it a success? And how does football build on it? Sport industry insiders give their views July 8, 2019 After 31 days, 52 games and 146 goals, the most high-profile Women’s World Cup yet is over. But what impact has it made on the game and the wider landscape? We asked a selection of industry experts. Contributors Lisa Parfitt, managing director, Engine Sport and Brand Experience; Steve Martin, global CEO, M&C Saatchi Sport and [...]
California earthquake: 7.1 magnitude quake hits days after earlier tremor July 6, 2019 California has been struck by a 7.1 magnitude earthquake in the biggest tremor for two decades. The earthquake hit at 8:19pm local time (4:19am BST), rattling LA less than two days after an earlier tremor. Read more: US stock market opens down on interest rate worries It struck at a shallow depth of 0.6 miles [...]
US stock markets open down on interest rate worries July 5, 2019 US stock markets opened in the red after stronger-than-expected jobs figures cast doubt on expectations of an interest rate rise this month. Read more: Fed rate cuts in question as US job gains defy expectations Non-farm payroll data showed the US economy added 224,000 jobs in June. Economists had expected 160,000 new jobs. Before the [...]