Dovish Yellen helps Dow rise – New York Report February 24, 2015 US Stocks closed at new highs yesterday as investors reacted well to remarks from Federal Reserve chair Janet Yellen and Greece won EU approval for its proposed budget reforms. The Dow Jones Industrial Average rose 92.35 points, 0.5 per cent, to 18,209.19, while the Standard & Poors 500 gained 5.82 points, 0.3 per cent, to [...]
Why the US bull market still has further to run – Investment Comment February 24, 2015 Recent economic data from the US clearly indicates that the world’s largest economy is now much closer to reaching self-sustaining growth. The Institute for Supply Management’s (ISM) Manufacturing Index continues to show expansion, with its latest reading at 53.5 (albeit down fractionally from the previous month). The services-oriented ISM Non-Manufacturing Index – representing a much [...]
FTSE 100 closes at record high February 24, 2015 Having smashed its closing record earlier this week, the FTSE closed at a record high, finishing at 6,949.6 points. Earlier, it had breezed past its intraday record of 6,950 topping 6,957 in late afternoon trading. The index passed its 1999 closing record of 6,930.2 yesterday, gaining more than 20 points today after decision-makers in Brussels [...]
Yellen: Fed will drop the word “patient” before it hikes interest rates February 24, 2015 The US Federal Reserve's rate-setting committee will lose patience before it hikes interest rates, promised Fed boss Janet Yellen today – although she remained cagey about when that would happen. In prepared remarks to the Senate Banking Committee, she suggested there is no "given point" at which the Federal Open Markets Committee (FOMC) will decide [...]
Pimlico Plumbers founder Charlie Mullins talks pipes, politics and £1m election bets February 22, 2015 I don't know much in life, but I know how to run a plumbing company,” says Charlie Mullins, founder of Pimlico Plumbers, matter-of-factly. Mullins is entitled to his own opinions (and he’s got his fair share) but he’s probably wrong on this one. The self-made multi-millionaire is unerringly humble – he’s not just any managing [...]
Federal Reserve remains wary of interest rate hike February 18, 2015 GOLD, PLATINUM and emerging currencies were buoyed last night after minutes of January’s Federal Reserve meeting revealed the majority of the committee remain wary of hiking rates too soon and hampering growth in the US economy. The minutes revealed the group was less unified on its strategy for when it will eventually raise interest rates [...]
Fed helps to moderate fall – New York Report February 18, 2015 The Dow and S&P 500 ended barely lower yesterday after a drop in energy shares. However, declines were limited by minutes from the latest Federal Reserve meeting, which showed policymakers are concerned about raising interest rates too soon. The Dow Jones industrial average fell 17.73 points, or 0.1 per cent, to 18,029.85, the S&P 500 [...]
Federal Reserve cautious of raising interest rates against backdrop of economic growth February 18, 2015 The Federal Reserve’s policy committee reaffirmed its cautious approach to raising interest rates after voting in unison against the measure in January. Minutes from the January meeting reveal that the majority of the committee were wary of hiking rates too soon and hampering growth in the US economy. However, the group was less unified [...]
Optimism over Greece raises S&P to record – New York Report February 17, 2015 THE S&P 500 ended above 2,100 at another record high yesterday as optimism grew that a debt deal would be reached with Greece and as bond prices sold off. In a possible sign of progress for Greece, a source told Reuters the country intended to ask for an extension of a loan agreement today. The [...]
Street food in the City? Street Kitchen co-founder Mark Jankel on his locally sourced alternative to Pret February 17, 2015 We were professional chefs and we thought it would be good fun to set up a street food kitchen, just to see how it worked. We did it as a bit of a laugh for two weeks, and loved it so much we decided to pursue it as a business. I left an executive job [...]