Fed’s patient move hits oil – New York Report January 28, 2015 US STOCKS closed down yesterday, driven by a sharp decline in the S&P 500 energy sector, after the Federal Reserve said the domestic economy was growing at a solid pace, signalling it remains on track to raise interest rates later this year. Concluding their first policy-setting meeting of the year, Fed officials said they would [...]
Federal Reserve remains “patient” and holds rates in wake of strong growth January 28, 2015 The Federal Reserve has held interest rates at 0.25 per cent and reiterated that it would remain "patient" when considering a rate hike. The decision was unanimous. It is now unlikely the Fed will raise rates before the middle of the year. The US central bank pointed to strong growth in the economy and upbeat [...]
Economic optimism? Many Brits still feel left behind – Brand Index January 27, 2015 Although yesterday’s 2014 fourth quarter GDP figures confirmed the fastest growth since before the financial crisis, the economy risks slowing in early 2015 as consumer confidence continues to be restrained. The first quarter of 2015 has got off to a muted start with the YouGov/Cebr Consumer Confidence Index rising only slightly in January as households’ [...]
All eyes on Fed as it sets rates after ECB move – The week ahead on Wall St January 25, 2015 THE FEDERAL Reserve could be key for Wall Street this week as investors get to hear from the US central bank for the first time since a series of moves by its global peers, including the European Central Bank’s massive stimulus plan. Last Thursday’s larger-than-expected stimulus package from the ECB lifted US stocks, helping indexes [...]
Davos 2015 World Economic Forum: In search of a safe haven – CNBC Comment January 19, 2015 The annual World Economic Forum (WEF) kicks off in Davos this week and, if you’re actually making your way to the mountain resort, it’s time to put on your snow boots and weather the freezing Alpine conditions. But even if you’re staying put like most of us, you still won’t be able to escape the [...]
Cheap oil won’t help recovery, warns IMF chief Christine Lagarde January 15, 2015 Cheap oil is unlikely to speed up recovery, International Monetary Fund (IMF) chief Christine Lagarde has warned, adding that global recovery is currently too "lopsided". In a speech to the Council on Foreign Relations in Washington, Lagarde suggested that although growth in the US and a lower oil price has given economies a helping hand, [...]
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Eurozone QE will be the most inefficient yet – CNBC Comment January 12, 2015 THE MARKET is expecting confirmation of a QE plan from European Central Bank (ECB) president Mario Draghi very soon. Indeed, CNBC learned yesterday that the ECB will more than likely base its highly-anticipated sovereign bond buying on the size of contributions made by national central banks. But whatever form it takes, it will almost certainly [...]
Shire splashes out AbbVie cash with $5.2bn acquisition of NPS Pharma January 12, 2015 UK drugmaker Shire bounced back from its botched takeover by pharma giant AbbVie last night to seal a $5.2bn acquisition of US firm NPS Pharma – using its multi-billion dollar breakup fee from AbbVie to help fund the spending spree. Shire has agreed to buy the US listed biotech firm for $46 a share – [...]
US non-farm payroll: US jobs data beats expectations but wages lag January 9, 2015 The US economy added 252,000 jobs in December, while the unemployment rate fell from 5.8 per cent to 5.6 per cent, official figures released today show. This was slightly above economists' expectations of 240,000 jobs in December, and an unemployment rate of 5.7 per cent. However, wage growth missed expectations, posting a decrease of 0.2 [...]