Gold climbs after Trump fires US attorney general January 31, 2017 The price of gold climbed overnight, edged on by uncertainty after US President Donald Trump fired attorney general Sally Yates. Global markets opened lower today, and safe haven assets such as gold and silver got a boost as investors looked for certainty. The precious yellow metal was up 0.5 per cent to $1,202, while the [...]
US consumers feel a Trump bump as confidence rises to 12-year high January 27, 2017 US consumers have greeted the arrival of Donald Trump as President with glee, as confidence soared in January to its highest level in 12 years, according to a closely watched survey. Optimism for the prospects of the world’s largest economy has risen by nine per cent year on year, according to the survey by the [...]
US economy grows slower than expected in fourth quarter of 2016 January 27, 2017 The US economy grew by less than expected in the last full quarter of the presidency of Barack Obama, as the country enters a new era of fiscal and monetary policy. Real GDP grew at an annual rate of 1.9 per cent in the fourth quarter of 2016, according to the US Bureau of Economic [...]
No fireworks: Bank of England and Federal Reserve set to hold interest rates next week January 27, 2017 With both the Bank of England and the Federal Reserve set to meet it’s a big week for monetary policy, but don’t expect fireworks, economists say. Since the collapse of Lehman Brothers sparked the financial crisis, the top 50 central banks have cut rates over 700 times, according to JP Morgan. While Brexit and the [...]
From holiday flights to luxury watches and Armani jeans, HMRC unveils the UK’s most outrageous expenses claims January 25, 2017 International flights, Friday night drinks and betting slips were among the dodgiest expense claims rejected by the taxman last year. HM Revenue & Customs (HMRC) has released a list of the most outlandish items taxpayers submitted as expenses on their annual returns for 2014-15. Taxpayers are allowed to claim deductions for genuine costs, such as work-related [...]
What Trump’s presidential inauguration means for the US Dollar January 20, 2017 Thanks to the Federal Reserve's Janet Yellen confirming that US rates are going up, the Greenback was the best performing currency on Wednesday, netting half a cent against sterling. She was unremittingly upbeat about the US economy, saying it was "near maximum employment and inflation is moving toward our goal". That being the case, the [...]
It isn’t just pensions: Four reasons why Royal Mail shares have failed to deliver January 19, 2017 Royal Mail's shares fell over five per cent this morning despite delivering in-line trading for the first nine months of the year. The group's problem is that its core operation – delivering letters in the UK – is shrinking. Add to this pension problems and the potential for industrial action and as Rob Byde, an analyst at [...]
The gateway to a new business order: Why crowdfunding is just the start of the next era of organisations January 19, 2017 A new campaign appeared on crowdfunding platform Crowdfunder this week. Scottish energy firm Our Energy is raising £450,000 to set up an alternative gas and electricity provider. Fed up with Big Six high tariffs and just “lining shareholders’ pockets”, founders David Pike and Karen Snode decided to start a competitor, with plans to be operational [...]
Federal Reserve chair Janet Yellen says slowly increasing interest rates “makes sense” January 18, 2017 Federal Reserve chair Janet Yellen has said that gradually increasing interest rates "makes sense" now that the U.S. economy is reaching full employment and inflation is "inching back" towards two per cent. Speaking at the Commonwealth Club in San Francisco, Yellen said: "Waiting too long to begin moving toward the neutral rate could risk a [...]
US inflation breaks above two per cent for first time since 2014 January 18, 2017 Inflation in the US broke through the Federal Reserve's two per cent target in December for the first time since 2014, strengthening the case for a rise in interest rates over the coming year. Consumer prices rose by an annual rate of 2.1 per cent in December, after inflation of 1.7 per cent the month before, [...]