US interest rate rise 2015: Dollar droops ahead of the Federal Reserve’s big decision September 16, 2015 The dollar tumbled with less than a day to go until the Federal Reserve makes its big decision, falling one per cent against the pound. With the dollar dropping against 15 of the 16 major currencies tracked by Bloomberg, the biggest winners were the pound, gaining one per cent, and the South African rand, gaining [...]
Demis Hassabis of Google’s DeepMind on AI: Three things he said about Siri-like smart assistants, AI helping doctors and a possible killer robot future September 16, 2015 Demis Hassabis, founder of the British artificial intelligence company DeepMind which was snapped up by Google for millions, has spoken about the implications of a future with AI, from healthcare to smart assistants – but warned misusing the technology could do harm. Speaking in a rare interview with the BBC, he addressed warnings made by [...]
Energy price decline dampens Eurozone inflation as ECB boss Vitor Constancio hints at greater stimulus September 16, 2015 A steep drop in energy prices held down prices in the Eurozone in August, according to figures released by Eurostat this morning. Energy prices fell 7.2 per cent in July, dampening overall annual inflation to 0.1 per cent in August, down from 0.2 per cent in July. The biggest price fall was in Cyprus [...]
Don’t fear a Fed hike: It’s unlikely to cause chaos September 16, 2015 Slow and steady rate rises mean that tightening policy probably won’t hurt your portfolio THE FOURTH of February 1994 is a day I remember well. Six months into my first job as a macro economist with an institutional fund manager, I got my first experience of how investors and markets react when they are surprised [...]
FTSE lifts after strong opening on Wall Street – London Report September 16, 2015 Britain’s top equity index turned higher in thin trade yesterday, as a strong start to trade on Wall Street helped lift mining stocks off their lows. The blue-chip FTSE 100 index closed up 0.9 per cent higher at 6,137.60 points, turning higher as Wall Street gained following a climb in retail sales. The move helped [...]
Fed rate hike expectations: Cheap oil and strong dollar blot outlook for Federal Reserve interest rates decision September 16, 2015 Clouds are gathering over the US economy as the release of bearish data spooks investors ahead of tomorrow’s highly anticipated Federal Reserve interest rate decision. Manufacturing output contracted by 0.5 per cent in August, according to Federal Reserve data released yesterday – the sector’s biggest output decline since January 2014. Industrial production, which includes [...]
Indices rally with eyes on Fed meeting – New York Report September 15, 2015 US stocks rose by more than one per cent yesterday after data showed healthy growth in consumer spending. However, this did little to remove uncertainty about whether the Federal Reserve will end seven years of near-zero interest rates when it meets on Thursday. The Dow Jones industrial average rose 228.89 points, or 1.4 per cent, [...]
FTSE retreats as Morrisons and Glencore drop – London Report September 15, 2015 BRITAIN’S top share index fell yesterday, with miner Glencore and supermarket group Morrisons underperforming as weak Chinese data and the possibility of a US rate rise weighed on markets. The blue-chip FTSE 100 index had initially risen but then lost ground to close 0.5 per cent lower at 6,084.59 points as caution crept in before [...]
US interest rate rise 2015: What will a Fed hike mean for global markets? September 15, 2015 The US Federal Reserve, after months of speculation, will announce on Thursday whether or not it is to raise its benchmark interest rate for the first time in nine years. Experts have questioned whether the US, and the world, is ready. Even the IMF has called for a delay. Unemployment in the States [...]
Sam Torrance’s Golf Comment: Walker Cup triumph was simply magnificent September 15, 2015 They were simply magnificent. I am of course talking about Great Britain and Ireland who beat a strong United States team on Sunday to regain the Walker Cup at Royal Lytham and St Annes. The Walker Cup is the pinnacle of amateur golf, the equivalent of the Ryder Cup. Great Britain and Ireland were [...]