London Report: RBS weighs on FTSE but Yellen drives stocks up February 27, 2014 BRITAIN’S top share index edged up yesterday, lifted by positive US data and assurances from Federal Reserve chair Janet Yellen, despite a sharp sell-off in Royal Bank of Scotland and increasing tension over Ukraine. RBS skidded 7.7 per cent as its new chief exec outlined plans for a large-scale overhaul after the mostly state-owned lender [...]
New York Report: S&P hits fresh record high on Fed assurance February 27, 2014 THE S&P 500 closed at a record last night and ended in positive territory for the year after Federal Reserve chair Janet Yellen said harsh weather seems to be to behind recent US economic softness. Her comments gave some relief to investors who supported the view that heavy snowstorms and unusually cold weather – and [...]
Yellen: Fed “does not have authority to supervise or regulate Bitcoin in any way” February 27, 2014 Fans of Bitcoin may be suffering from some mixed feelings. Many love the cryptocurrency as unlike fiat money, such as the US dollar, it has no central bank. But the world's most important central banker, Federal Reserve chair Janet Yellen, just gave the currency a great boost. During questions Yellen has just ruled out the [...]
What you need to know before the US open February 27, 2014 US markets are expected to open lower today, following European counterparts that have remained cautious because of the worsening situation in Ukraine. The FTSE lost almost one per cent this morning, dragged down by struggling bank RBS, which has shed almost ten per cent. Janet Yellen’s due to speak to the Senate later today – [...]
What you need to know before the open February 27, 2014 Caution’s in the air this morning as nervousness around the deteriorating situation in Ukraine sees investors risk averse. Markets are, therefore, expected to open lower. US markets stayed around all-time highs last night, although there was some notably treasuries buying. Markets will focus on Janet Yellen’s testimony this afternoon, which’ll shed some light on the [...]
New York Report: Markets steady ahead of Fed chair quizzing February 26, 2014 US stocks finished flat yesterday with investors hesitant to make a big move on the day before comments from Federal Reserve Chair Janet Yellen, though retailers’ shares rallied on results for a second day. The S&P 500 once again briefly broke above its 2013 year-end closing level of 1,848.36, which has served as resistance, but [...]
Fed investigates Bank of America February 25, 2014 BANK OF America confirmed yesterday that federal investigators are looking into whether it violated the requirements of a government housing programme, according to a filing with the US Securities and Exchange Commission. In the same filing Bank of America reported it is upping its estimate of litigation-related losses by $1bn to $6.1bn (£3.6bn) in further [...]
How socialism has destroyed Venezuela February 25, 2014 MILTON Friedman once said that, if you put the government in charge of the Sahara desert, there’ll eventually be a shortage of sand. No wonder that, after 14 years of socialist government, Venezuela – the country with the world’s largest oil reserves – is currently importing gasoline. This fact highlights Venezuela’s painful descent into chaos, [...]
Top fund picks to spice up your Isa portfolio February 25, 2014 WITH the end of the tax year fast approaching (on 5 April), there is still time to invest up to £11,520 in a stocks and shares Isa. For higher or additional rate taxpayers, sheltering your money in the tax-free wrapper means avoiding income tax at 40 or 45 per cent on any interest. But while [...]
How socialism has destroyed Venezuela February 25, 2014 MILTON Friedman once said that, if you put the government in charge of the Sahara desert, there’ll eventually be a shortage of sand. No wonder that, after 14 years of socialist government, Venezuela – the country with the world’s largest oil reserves – is currently importing gasoline. This fact highlights Venezuela’s painful descent into chaos, [...]