Energy shares drop but Cisco helps market – New York Report August 13, 2015 US STOCKS finished flat yesterday as a drop in energy shares offset a rebound in retail sales and stronger-than-expected Cisco results. The Dow Jones industrial average rose 5.74 points, or 0.03 per cent, to 17,408.25, the S&P 500 lost 2.66 points, or 0.13 per cent, to 2,083.39 and the Nasdaq Composite dropped 10.83 points, or [...]
Global markets feel aftershock of renminbi cut August 13, 2015 INVESTORS fled into safe haven assets yesterday after the impact of China’s devaluation of the yuan continued to weigh on markets. The decision by the People’s Bank of China (PBOC) to reduce the value of the currency sent Germany’s two-year yield on bonds to a new record low of minus 0.284 per cent as markets [...]
The Chinese love affair with life’s little luxuries August 13, 2015 The seemingly rampant early success of brands such as Louis Vuitton a decade ago was largely due to the novelty of designer goods in China. Angelica Cheung, Vogue China’s editor in chief, likened the first glut of luxury goods in China to food being given to the starving. The well-heeled are now extremely [...]
US jobs figures pave way for interest rate lift August 12, 2015 THE US could raise interest rates next month after a robust set of labour market data published yesterday. The number of US job opportunities was a strong 5.25m in June after edging down slightly from May’s record 5.36m, according to the Labor Department’s job openings and labour turnover survey (Jolts). The survey also showed the [...]
Forget nationalisation: UK railways need a radical dose of devolution August 12, 2015 It's been a torrid time for Britain’s railways lately. In the last six months – as many a hard-pressed City A.M. commuter will know – there have been bad tempered strikes on the Tube and commuter railways. Channel Tunnel trains have had to run the gauntlet of tyre-burning port workers in Calais as well as [...]
TfL Tube strike August 2015: Just one in five commuters back the strikers as two new strike dates announced August 11, 2015 As RMT announced another two Tube strike dates, it seems the majority of Londoners are getting fed up with the conflict over the Night Tube disrupting their commute – although most of us don't like the idea of night-working ourselves. Only one in five back the strikers, showed a Yougov poll conducted over the latest [...]
US PGA Championship 2015: Rory McIlroy knows he’s ready for showdown with rival Jordan Spieth August 10, 2015 Golf gets the duel it wanted this week when Rory McIlroy, back in action after an ankle injury, goes head to head with Jordan Spieth, the man with designs on his world No1 spot and a third Major of 2015, at the US PGA Championship – and it’s great news for the game. Read more: [...]
Does the universe actually exist? We might all be living in one big computer game, scientists say August 6, 2015 We always talk about the robots replacing humans, but what if we actually are robots, with brains that are programmed just like computers to think in a certain way? Read more: Did the big bang happen? Scientists call theory into question Our universe behaves suspiciously similarly to a simulated computer, obeying a series of [...]
Dollar down as jobs data dents chance of hike August 6, 2015 THE DOLLAR fell against other major global currencies yesterday after data revealed that private sector hiring slowed sharply in July, dampening expectations of an interest rate hike in September. US Federal Reserve chief Janet Yellen last week reiterated that she is looking for improvement in the jobs market before voting for the first interest rate [...]
Low inflation and strong pound lead economists to vote 8-1 to hold rates August 5, 2015 INTEREST rates should be held this month, according to a majority of City A.M.’s panel of economists . There were many reasons deterring members from arguing for a rate hike. Many of the panel are concerned about low inflation. The annual rate of inflation is currently zero per cent, around which it has hovered since [...]