New York Report: S&P closes in on landmark 2,000 points September 21, 2014 US STOCKS have been on a roll of late, with the S&P 500 hitting the latest in a series of records on Thursday, and investors expect the index’s momentum to soon carry it to – if not past – the 2,000 milestone. The S&P is about 10 points, or 0.4 per cent, from that landmark, [...]
New York Report: Fed decision raises shares September 18, 2014 US SHARES rose yesterday, a day after the Federal Reserve kept intact its pledge to keep interest rates low, providing a backstop for investors that helped lift both the Dow and S&P to record highs. The Fed said on Wednesday at the conclusion of a two-day policy meeting it would keep interest rates near zero for [...]
Posen: “Joseph Stiglitz is wrong – the reality of Scottish independence is frightening” September 18, 2014 Following pro-independence assertions by economist Nobel Prize-winning economist Joseph Stiglitz, saying the debate around Scottish independence had been "fear mongering", and that currency was a "non-issue", last night Adam Posen, the former Monetary Policy Committee member who now heads up the Peterson Institute for International Economics, published an article criticising his view. Cracking out the [...]
US Federal Reserve tapers and suggests interest rates could get a hike September 17, 2014 The US Federal Reserve revealed last night that another of its senior officials has opposed a pledge to keep rates at record lows, while projections suggest that borrowing costs could rise faster than had been expected. The Federal Open Market Committee (FOMC) voted eight to two to maintain the federal funds rate at the zero [...]
New York Report: Dow at record high after Fed rates promise September 17, 2014 US STOCKS edged higher in volatile trading yesterday after the US Federal Reserve renewed its pledge to keep interest rates near zero for a “considerable time” and repeated concerns over slack in the labour market, standing firm against calls to overhaul its policy statement. Interest rate projections, however, show Fed officials expect rate hikes, when [...]
Champions League: Chelsea boss defends call to cull Costa September 17, 2014 CHELSEA 1 SCHALKE 04 1 CHELSEA manager Jose Mourinho last night revealed star striker Diego Costa will struggle to be part of their assault on both the Premier League and Champions League titles this term. The Spain striker has hit seven goals in four Premier League games so far, including a hat-trick against Swansea on [...]
Dollar jumps against Euro and Yen to 2014 highs after Fed committ to low interest rates September 17, 2014 The dollar has risen to new highs for the year against the euro and the yen in late afternoon trading, despite the Fed's announcement today that it would keep interest rates at near-zero levels in 2015. Federal Reserve chairwoman Janet Yellen delivered a dovish speech in which she insisted interest rates would stay low [...]
Federal Reserve: US interest rates to remain near zero September 17, 2014 The Federal Reserve has stuck to its pledge to keep interest rates near zero for a "considerable time" after its asset purchase program ends next month. In a statement following the Fed’s Open Market Committee, the US central bank also announced it had sliced a further $10bn from the programme, leaving it with monthly [...]
Enecsys looking to raise $20m in solar tech IPO September 16, 2014 The former Intel boss hoping to brighten up London with solar tech. After more than 20 years promoting and designing microprocessors at Intel, Mike Fister, who grew Intel’s enterprise group from nothing to over $3.5bn (£2.15bn) in annual revenues, is looking for a new challenge. Enecsys is that challenge, he says, and by [...]
New York Report: Wall St ahead on Fed policy September 16, 2014 US STOCKS rose yesterday and the S&P 500 notched its best performance in about a month after a report shifted investor expectations for the Federal Reserve’s policy statement due later today. The Dow Jones industrial average gained 100.83 points, or 0.59 per cent, to 17,131.97, the S&P 500 rose 14.85 points, or 0.75 per cent, [...]