Brown must follow Bernanke’s advice July 21, 2009 MUCH of what Ben Bernanke, the Federal Reserve chairman, had to say last night could easily be transposed to the UK. He made several main points in his testimony to Congress, most of which are relevant to Britain. The rate of decline in the US economy has slowed significantly, demand and production are beginning to [...]
Q&A: SALES July 16, 2009 Russell HuntMANAGING DIRECTOR, PROPERTY HUNTQ. I keep missing out on properties as they’re selling very quickly. What tips can you give me? A. If you are getting a mortgage then you must make sure that you can get your finances agreed in principle before you start looking. Remember that you will be coming up against [...]
JPMorgan adds to cheery mood in US July 16, 2009 US stocks rallied for a fourth day yesterday after JPMorgan’s strong results fed growing optimism about the quarterly earnings season and technology shares rose in anticipation of more good news. Gains in International Business Machines helped the market shake off its earlier malaise. The broad S&P 500 extended the week’s gains to tally its best [...]
Fed to start scaling back fiscal stimulus July 15, 2009 US CENTRAL bank the Federal Reserve said yesterday it will start scaling back some of its unprecedented fiscal stimulus measures, as the nation heads for a recovery in the second half of the year. The Fed said “improved market conditions and declining use of the facilities” meant it could tackle fears about how the government [...]
Group attacks Fed power plan July 14, 2009 A coalition of investors is set to attack Barack Obama’s plan to give the Federal Reserve extensive powers over all big US financial groups today. It says the Fed’s reputation has been tarnished, as it contributed to the downturn. The group of analysts, investors and former regulators will break the silence from the industry on [...]
SUMMER WILL BE CHOPPY FOR INVESTORS July 12, 2009 JANE FOLEY RESEARCH DIRECTOR, FOREX.COM THE FTSE 100 index and sterling have been trading in a similar pattern since the spring. Both the FTSE 100 and the Bank of England’s effective exchange rate – which measures movements in the pound against a basket of currencies weighted by their importance to UK trade flows – trended [...]
Darling’s report: good in parts but flawed overall July 8, 2009 THERE will be no return to business as usual, not by any stretch of the imagination. But yesterday’s Treasury white paper also confirms that financial capitalism as we know it is here to stay. The authorities want to reform global finance to make it work better and to try and avoid extreme booms and busts; [...]
UK consumer upbeat about rest of year July 7, 2009 BRITISH consumers are feeling increasingly positive and confidence levels are now close to those recorded last year, according the Nationwide consumer confidence index published today. The index rose to 58 from 54 in May, compared to a reading of 59 in June last year. Consumer expectations for the economic situation in six months time were [...]
Lawson: The Tories need to find the bottle to cut public spending July 2, 2009 FORMER chancellor Lord Lawson is feeling hot under the collar. It’s not just because he’s finished delivering a lecture in a stuffy, airless room at the London Stock Exchange. He’s also fed up with travelling on the underground in the sweltering heat. “The problem with the tube is not so much the heat,” he tells [...]
US job losses jump in June July 2, 2009 US UNEMPLOYMENT jumped by more than expected in June, taking the jobless rate of the world’s largest economy to 9.5 per cent, the highest in more than a quarter of a century. Non-farm payroll data, released yesterday, showed that US employers cut 467,000 jobs last month, significantly more than the 363,000 estimated, breaking four months [...]