DEBATE: As the year draws to a close, do we still have reasons to be cheerful? December 21, 2018 As the year draws to a close, do we still have reasons to be cheerful? Viscount Ridley, author of The Rational Optimist, says YES. Yes, we do. A lot went wrong in 2018 for a lot of people; but a lot more went right. Levels of absolute poverty, rates of infant mortality, age-adjusted death rates [...]
FTSE 100 falls to lowest level since August 2016 as US Fed sparks global selloff December 20, 2018 The FTSE 100 has fallen to its lowest level since August 2016 this morning as a market selloff sparked by the Fed’s decision to raise interest rates spread to the UK. US Federal Reserve chairman Jerome Powell hiked rates to a range of 2.25-2.5 per cent – the highest level in a decade, despite vocal [...]
Federal Reserve goes through with expected US interest rate hike, chair Jerome Powell says he is ‘not worried’ about Trump criticism December 19, 2018 The US central bank, the Federal Reserve, has confirmed it is raising interest rates for a fourth time this year in the face of sustained opposition from President Donald Trump. As expected before the announcement, the Fed said it would hike interest rates by 0.25 to a range of 2.25 per cent 2.5 per cent [...]
Global markets fall ahead of US Federal Reserve interest rates decision December 18, 2018 Global stock markets have fallen in anticipation of today’s US Federal Reserve meeting which could lead to an interest rate hike. US markets fell sharply last night and European markets initially followed suit this morning before rebounding. The Dow Jones, the S&P 500 and the Nasdaq Composite all fell more than two per cent last [...]
Sam Torrance: Europe’s Ryder Cup success tops the bill in my golfing highlights of 2018 December 17, 2018 From Europe's Ryder Cup glory to Francesco Molinari's breakthrough and a British Major winner in Georgia Hall, it has been a vintage year for golf. Here, Sam Torrance picks his highlights from 2018. 1. Pulverised in Paris Europe didn’t just beat the United States at this year’s Ryder Cup; they outclassed, out-thought and comprehensively out-played a [...]
Trump attacks Federal Reserve again in row over interest rates hike December 17, 2018 President Donald Trump has continued his spat with America’s central bank, the Federal Reserve, ahead of its interest rates announcement this week. The Fed is expected to raise interest rates for the fourth time this year on Wednesday, a decision Trump today called “incredible” on Twitter. “It is incredible that with a very strong dollar [...]
Editor’s Notes: The Bank of England must protect its independence December 7, 2018 Former chair of the US Federal Reserve Janet Yellen once said “the principle that a central bank should be independent from the government is unassailable.” Donald Trump probably thinks unassailable means you can’t sell it, but even if he understood Yellan’s point he seems determined to ignore it. His broadsides against Fed policy are quite [...]
Will markets have a jolly festive season this year? December 4, 2018 It's December and time to deck the halls with boughs of holly. Or in CNBC’s case, it’s time for the business channel to be immersed in chatter of a potential Santa Claus rally and 2019 fortunes. Santa’s performance for the Dow Jones Industrial Average has been fairly reliable over the past five years, with investors rewarded [...]
DEBATE: Do Jerome Powell’s recent comments suggest that Trump is influencing the Fed’s policy? December 3, 2018 Do Jerome Powell’s recent comments suggest that Trump is influencing the Fed’s policy? YES, says Andy Scott, an associate director at JCRA. Since Powell assumed the role from Janet Yellen in February, the US labour market has continued to strengthen, and the economy has grown at the fastest pace in four years. As a result, Powell’s [...]
Unilever invests in India with €3.3bn deal for Horlicks December 3, 2018 Unilever has agreed to buy GlaxoSmithKline’s nutritions arm, including Horlicks, a week after press reports the two were in exclusive talks. The €3.3bn (2.9bn) deal will give the British-Dutch consumer goods company a substantial presence on the growing Indian market. It will buy GSK’s health food drinks portfolio in India, Bangladesh and 20 other mainly [...]