Fed intends to keep interest rates low long after tapering ends July 30, 2014 Today's dovish monetary policy statement from the Federal Reserve confirmed expectations that it would look to delay the hiking of interest rates for a long time after tapering ends. It affirmed its commitment to stimulating the economy, saying that it wants to hold short-term interest rates near zero until well into 2015. Also [...]
US economy bounces back as GDP rises by four per cent July 30, 2014 It doesn't come much bigger than this for the land of hope and glory: a bond-buying announcement, an interest rate announcement and GDP for quarter two come all in one day for the US – and that day is today. GDP for the second quarter came in at four per cent, above the three per [...]
Why did the dinosaurs go extinct? Bad timing, scientists say July 28, 2014 It wasn't just the impact of an asteroid thundering down to Earth that wiped dinosaurs off the face of the planet: their extinction was the result of a longer chain of events, according to new research. There are several theories about how the prehistoric creatures met their abrupt end 66 million years ago, [...]
New York Report: GDP data may keep US stock market aloft July 27, 2014 EVEN if data this week shows a mediocre rebound in US economic growth, that might be enough to keep the stock market aloft at record highs and the Federal Reserve steadfast in its winding down of stimulus through bond purchases. US gross domestic product for the second quarter, due to be released on Wednesday, is [...]
Risk savvy: Why simple rules of thumb are best July 22, 2014 A new book lays bare the pitfalls of complex decision-making. Imagine you’re a turkey – one that understands basic probability theory. Each day, a farmer brings you a bucket of corn, and any initial wariness over the human’s presence turns into an expectation that you’re about to be fed. This confidence increases week by week, [...]
Wall St The Week Ahead: US markets rebounding July 21, 2014 VOLATILITY spiked last week after the tragedy of a downed civilian jetliner in Ukraine and the mounting death toll in Gaza and Israel interrupted the summer trading slumber. Still, the bears may have to wait a while to call the start of a correction. Uncertainly took over Wall Street Thursday as investors fled stocks, giving [...]
Royal Mail may face fine as French antitrust investigation gets underway July 16, 2014 Royal Mail yesterday announced it might face a significant fine, as its European parcel delivery subsidiary General Logistics Systems (GLS) is being targeted by the French competition authority as part of a widespread antitrust investigation. Other parcel delivery companies, including FedEx, TNT Express, Deutsche Post’s DHL Express France SAS service and La Poste’s Exapaq and [...]
I am hungrier than ever for a Major, says Stenson July 16, 2014 WORLD No2 Henrik Stenson insists that extraordinary success last year on both sides of the Atlantic has only intensified his hunger for a first Major title when the Open begins at Hoylake today. The 38-year-old became the first man to win the PGA Tour’s FedEx Cup and the European Tour’s Race to Dubai in the [...]
Energy industry fears cutback on green subsidies after cabinet reshuffle July 16, 2014 Two key supporters of chancellor George Osborne were yesterday named as ministers in the Department of Energy and Climate Change (Decc) as part of the government’s reshuffle, prompting concerns of a squeeze on renewables investment. Matthew Hancock replaces Michael Fallon as business and energy minister and Amber Rudd replaces energy minister Greg Barker, although she [...]
Fed chair Janet Yellen defends low interest rates amid concern over frothy prices July 16, 2014 Federal Reserve chair Janet Yellen held the line during a grilling from US politicians yesterday, arguing that the economic climate meant that very low interest rates were still appropriate. “If the Fed [and Yellen] is going make a change in rhetoric, it is likelier to come at the September meeting, because that is the next [...]