What the other papers say this morning – 26 June 2014 June 25, 2014 FINANCIAL TIMES Fed warns banks of tougher tests The Federal Reserve has warned banks in the US that tests of their ability to survive a financial crisis will be made tougher – with new risk assessments and regular checks to ensure they fix any weaknesses identified in the process. Fed governor Daniel Tarullo, who is [...]
A human step for artificial intelligence June 23, 2014 Robots are getting smarter. They still need instructions, but they no longer need to be so detailed. Now you can just say “make me a bowl of noodles”, rather than telling them that they need to heat the water, too. This is because of work being done by a scientist in California, who is designing them [...]
Euro rate hike unlikely for at least two years June 23, 2014 AUSTRIAN central bank chief Ewald Nowotny said this weekend that the European Central Bank (ECB) is unlikely to raise interest rates until at least 2016, as the policy of major central banks diverges. Nowotny’s comments follow the ECB’s easing, which reduced the Eurozone deposit rate to a negative level for the first time. Analysts have [...]
Pound at five-year high as CBI reports best order book results June 19, 2014 STERLING pushed above $1.704 yesterday, breaking into territory last seen before the full weight of the financial crisis hit in October 2008. The pound’s rise came as the Confederation of British Industry (CBI) reported that manufacturers’ order books were in their best state so far in 2014. Sterling’s surge against the dollar also followed comments [...]
New York Report: S&P hits new heights due to Fed optimism June 19, 2014 THE S&P 500 ended on a record high yesterday, extending gains for a fifth day on investors’ optimism that the Federal Reserve would keep interest rates low for a long period of time. While the The S&P 500 gained 2.50 points or 0.13 per cent, to close at 1,959.48, the Dow Jones industrial average eked [...]
Pound hits fresh four-year high against dollar on dovish Fed June 19, 2014 Sterling has made a leap higher against the US dollar this morning, granted strength by comments from the Bank of England signalling that a rise in rates may be approaching. The pound rose about the $1.701 level earlier today, a new post-August 2009 high. A relatively dovish statement from the US Federal Reserve last night [...]
Asian markets climb after upbeat Fed comments June 19, 2014 Asian markets are up after positive comments from both the Federal Reserve and Chinese Premier Li Keqiang, with the situation in Iraq failing to dampen optimism. The US central bank has indicated that rates will remain low for some time to come after a two-day policy review. The remarks sent the S&P 500 to a [...]
What the other papers say this morning – 19 June 2014 June 18, 2014 FINANCIAL TIMES US share dividends hit record US share buybacks and dividend payments climbed to a record level in the first quarter of 2014, as companies chose to boost shareholder returns in the absence of robust revenue growth. Members of the S&P 500 index – led by Apple, IBM, ExxonMobil and FedEx – spent $241bn [...]
S&P hits record after Fed assures markets on rates and economy June 18, 2014 THE S&P 500 closed at a new record high last night as US stocks rose in the wake of the Federal Reserve striking a doveish tone in its post-meeting statement. The Fed hinted at a slightly faster pace of interest rate increases starting next year, but also suggested long-term rates would be lower than indicated [...]
London Report: Concern over oil price pushes up London shares June 18, 2014 THE FTSE 100 was up yesterday, with oil companies lifting the market due to high crude prices in the wake of heavy fighting in Iraq, Opec’s second-largest producer. The index closed up 0.2 per cent, or 11.79 points, at 6,778.56 points. Brent crude oil rose towards $114 a barrel as Sunni militants pushed forwards in [...]