Federal Reserve green lights UBS-Credit Suisse deal in US April 15, 2023 The Federal Reserve's Board of Governors on Friday said it has approved UBS Group AG's acquisition of the U.S. subsidiaries of Credit Suisse, clearing another major hurdle for the completion of the Swiss-brokered rescue deal.
FTSE 100 live: London markets make small gains with retailers in focus as sterling stays strong April 14, 2023 Markets opened marginally higher on Friday with a mixed performance from retailers while the pound continued to strengthen as investors increasingly expect the Fed to start cutting rates across the pond. The FTSE 100 opened 0.20 per cent higher at 7,859.58, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]
Wall Street rally lifts tech stocks in latest signal US inflation is cooling, now eyes turn to Fed rate decision April 14, 2023 A rally on Wall Street on Thursday lifted stocks to their highest level in almost two months following the latest sign that inflation continues to cool. The S&P 500 rose 1.3 per cent after a report showed inflation at the wholesale level slowed last month by more than expected. The Dow Jones Industrial Average gained [...]
FTSE 100 close: US inflation boost runs out of steam as De La Rue tumbles a third April 12, 2023 A sudden boost to London’s FTSE 100 from better than expected US inflation numbers ran out of steam toward the end of today’s trading session, although the premier index still notched gains. The FTSE 100 jumped 0.5 per cent to close at 7,824.83 points, while its mid-cap counterpart, the FTSE 250, which is more responsive [...]
Deposits in focus as US banks line up to report amid banking volatility April 12, 2023 The largest banks on Wall Street will start reporting their first quarter earnings later this week with investors set to pay very close attention to banks’ deposits. So far this year, huge amounts of money have flowed into higher-yielding money market funds from bank deposits. This picked up in March after the collapse of Silicon [...]
US core inflation jumps to 5.6 per cent while CPI falls rapidly in mixed signal for Fed April 12, 2023 Underlying US inflation is putting up a strong fight against the Federal Reserve’s aggressive interest rate hike assault, while general price rises are falling quickly, sending mixed signals to chair Jerome Powell and co ahead of their interest rate decision next month. Official figures out from the US Bureau of Labor Statistics today showed the [...]
Andrew Bailey stresses Bank of England focused on inflation fight rather than Credit Suisse and SVB fallout April 12, 2023 The recent run of chaos in the global financial system that has laid waste to Credit Suisse and Silicon Valley Bank (SVB) has not distracted the Bank of England from trying to tame inflation in the UK, the monetary authority’s chief said today. Speaking at an event at the International Monetary Fund’s spring meeting, Andrew [...]
Megan Greene to replace Silvana Tenreyro on Bank of England’s rate-setting committee this summer April 11, 2023 Megan Greene has been appointed by Chancellor Jeremy Hunt to the Bank of England’s interest rate-setting committee, replacing top dove Silvana Tenreyro from 5 July. Greene will join the Bank’s Monetary Policy Committee (MPC) from consultancy Kroll, where she has been global chief economist and a regular columnist for the Financial Times. The Treasury announced [...]
Soft landing? Why the latest jobs data could leave the Fed with a tricky call April 10, 2023 Analysts are divided about whether the US Federal Reserve should hike rates again as they digest last week’s figures on the labour market. On Friday last week, a closely watched survey of the US labour market showed the economy added 236,000 new jobs in March. While more jobs are still being added, the report suggests [...]
US economy adds 236,000 jobs in March as Fed rate hikes help cool labour market April 7, 2023 The US added 236,000 new jobs in March, the latest sign that the labour market is beginning to cool as the US Federal Reserve (Fed) continues to hike interest rates. The number of new jobs fell below the number added in February and the average monthly gain of 334,000 recorded in the last six months, [...]