US non-farm payroll: US adds 178,000 jobs in November as wages rise and unemployment falls December 2, 2016 US non-farm payroll data has shown that the US added 178,000 jobs in the month that saw Donald Trump win the Presidential election. Market experts had been expecting an increase of 165,000 in November, slightly above the 161,000 reported for October. Unemployment dropped to 4.6 per cent and wages were up 2.5 per cent. The jobs [...]
Donald Trump’s unhappy fate is to oversee a financial crisis far worse than the last December 2, 2016 An earthquake doesn’t care if you’re progressive or populist. It destroys your house all the same. Likewise a financial crisis is indifferent to a politician’s policy mix. Systemic crises proceed according to their own dynamic based on the array of agents in a system, and systemic scale. The tempo of recent crises in 1994, 1998, and [...]
Finance boss Anthony Constantinou jailed for 12 months for sexual assaults December 1, 2016 A finance boss whose company's atmosphere was likened to The Wolf of Wall Street has been jailed for 12 months today for two counts of sexual assault. Anthony Constantinou, aged 35 and formerly the boss of foreign exchange trading firm CWM, was found guilty of sexually assaulting two women earlier this year. The court was told that, [...]
Steady growth in the US isn’t feeding into wages November 30, 2016 The US economy grew steadily in the lead up to the presidential election, the Federal Reserve has said. In its Beige Book – a report based on anecdotal evidence from business – the Fed said gains in wages and prices had been modest, however, and the strong dollar was acting as a burden to manufacturers. In [...]
Former Goldman Sachs partner Steven Mnuchin confirms he’s been named Donald Trump’s treasury secretary November 30, 2016 Further details have emerged of US President-elect Donald Trump's new cabinet, giving investors fresh hope that the controversial tycoon will not stray too far from the fiscal path. The dollar rose against both the euro and the yen after it emerged former Goldman Sachs partner Steven Mnuchin had been appointed US treasury secretary. Mnuchin has confirmed he will [...]
Surprise upward revision of US GDP gives further support for interest rate rise November 29, 2016 US growth surprised analysts by being revised upwards in the third quarter, strengthening the case for the Federal Reserve to raise interest rates at its next meeting in December. Gross domestic product (GDP) increased at an annualised rate of 3.2 per cent from July to September, a big jump from second-quarter growth of 1.4 per [...]
TalkTalk share price jumps on news BT and Openreach will be split November 29, 2016 Shares in telecom group TalkTalk have jumped this morning on the news that rival BT is to be separated from its broadband infrastructure arm, Openreach. TalkTalk's stock was up four per cent by mid-morning. Ofcom said earlier that it would go the European Commission seeking to legally split BT and Openreach. "Creating a more independent [...]
Looking for deals on flights? Here are some of the best deals for Black Friday from British Airways and Ryanair November 25, 2016 Forget snapping up a heavily discounted perfume you've never actually tried. It's not just the big retailers getting involved in Black Friday with deals. And some of the biggest airlines have a range of offers lined up for Black Friday, so if you're feeling fed up of the wind and the cold and are looking to [...]
Gold catches a bug as the dollar’s surge shows no sign of abating and Fed rate rise looks all but a certainty November 24, 2016 Gold has continued to fall this morning on the back of yet more highs for the US dollar, reaching lows not seen since February. The currency’s strength combined with strong US data and minutes from the Federal Reserve’s Open Markets Committee (FOMC) to send gold far below the $1200/oz level. In morning trading a small [...]
Arsenal 2, Paris Saint-Germain 2: Arsene Wenger frustrated but refuses to blame Alex Iwobi for costly late own goal November 23, 2016 Arsenal 2, Paris Saint-Germain 2 Arsenal manager Arsene Wenger admitted his frustration but refused to blame Alex Iwobi after his late own goal cost the Gunners a valuable victory and, in all likelihood, top spot in Champions League Group A. Wenger's men fought back from Edinson Cavani's early goal to lead the French title-holders through [...]