From Star Wars and the Fed rate rise and UK housing crisis to Chelsea’s crisis and Sports Direct’s working practices: Here’s what got us talking this week December 19, 2015 There were some outrageous predictions for 2016. Our homes got a bit smarter. And somewhere, floating over our heads, there was a British man in space. Here's what got us talking this week 1) We learned where you can buy a home And for those on less than £43,000, London is out of bounds. And things are [...]
FTSE jumps as investors cheer the Fed rate rise – London Report December 18, 2015 TOP SHARE index, the FTSE 100, climbed yesterday, tracking gains on other equity markets after investors took the first US interest rate rise in nearly a decade as a sign of policymakers’ confidence in the world’s biggest economy. The FTSE rose 41 points, or 1.2 per cent to 6,102 points, but is down by around seven [...]
Wall St slips as global concerns curtail rallies – New York Report December 17, 2015 CONCERN over faltering global economic growth yesterday ended a three-day rally on Wall Street, led by declines in energy and materials shares, a day after shares rose on the Federal Reserve’s decision to raise interest rates. The Dow Jones industrial average fell 253.25 points, or 1.43 per cent, to 17,495.84, the S&P 500 lost 31.18 [...]
Forward guidance was not the appropriate policy for the Fed – but Janet Yellen pulled it off December 17, 2015 Over the last few months, Fed chair Janet Yellen has led a train of Federal System governors in guiding financial market expectations towards an interest rate “lift-off” at the central bank’s December meeting. This week, more than six years into an economic recovery, it finally happened – but how successful has forward guidance been? [...]
What will happen to the gold market in 2016? Effects of the Fed rate hike and pro-gold policies in emerging markets December 17, 2015 For the first time in almost nine years the United States Federal Reserve raised interest rates by 0.25 percentage points. This signalled the end of a fascinating year for the gold market, which saw strong demand from central banks, Asian consumers and a buoyant global bar and coin market, which is more than double its [...]
Miracle on George St: the stars align for charity lottery December 17, 2015 It’s not unusual for Edinburgh’s George Street to be teeming with people at this time of year. But last month, it was brought to a standstill, not by Christmas shoppers, but the most famous “George” in the world. Double Oscar-winner George Clooney (sorry, Prince George) was in town to drop into the offices of People’s [...]
FTSE 100 bounces on Fed rate rise – as Asian shares close higher December 17, 2015 The FTSE 100 opened 1.33 per cent higher this morning, at 6,142.9 points, after the US Federal Reserve announced an interest rate hike for the first time since 2006 The UK's bluechip index followed Asian shares, which closed higher after the announcement, with the Nikkei rising 1.6 per cent and the Hang Seng ending 0.8 per [...]
US markets welcome Fed rate rise as analysts applaud smooth landing for Janet Yellen’s announcement December 17, 2015 The US central bank finally hiked interest rates for the first time since 2006 last night in a highly-anticipated move marking “the end of an extraordinary period.” US stock markets welcomed the move, with the S&P 500 jumping 1.45 per cent as the Federal Reserve lifted its main policy rate 0.25 percentage points from record [...]
Fed rate hike reactions: How analysts responded to Janet Yellen’s interest rate rise December 16, 2015 The Federal Reserve’s move to raise its short-term interest rate from its historically low near-zero levels was widely expected by economists, but not everyone welcomed the first hike in close to a decade. Attacking the Fed’s move as “premature”, CEBR economists were critical of the central bank’s move to “fight non-existent inflation”: “The Fed is [...]
Hawk dressed as dove helps index rise up – New York Report December 16, 2015 Investors took advantage of the Federal Reserve’s “Santa Clause” hike in interest rates yesterday to pull Wall Street higher. The 25 basis points rise was seen as a vote of confidence in the US economy. The Dow Jones industrial average rose 224.18 points, or 1.28 per cent, to 17,749.09, the S&P 500 gained [...]