Fed hints that interest rate rises will start in 2023 June 16, 2021 The Federal Reserve this evening indicated that its first post-pandemic interest rate hikes could come in 2023, sending Wall Street’s markets down. Although the US central bank kept its current interest rate at the lowest possible levels, the majority of the Fed’s officials predicted at least two 0.25 per cent rate rises in 2023. That [...]
Pre-Fed jitters keep US stocks below record highs at open June 16, 2021 US stocks opened just below record highs today as investors stayed on the fence ahead of potential hints from the Federal Reserve on when it would taper its monetary stimulus. The Dow Jones Industrial Average was down 0.1 per cent, while the S&P 500 opened flat, remaining near an all-time time. Meanwhile, the Nasdaq Composite [...]
Today’s Fed meeting: Those who eat get fat, those who don’t regret June 16, 2021 According to an old Turkish saying ‘those who eat get fat, those who don’t regret.’ Traders would pick this up as taking a long equity position as investors continue to navigate an environment of low to negative yields on less risky holdings, with all eyes on the Federal Reserve later today. “It’s the Turkish way [...]
UK inflation jumps to 2.1 per cent in May as clothing and fuel prices rise June 16, 2021 UK inflation jumped in May due to rising clothing and fuel prices, pushing it ahead of the Bank of England’s target, the Office for National Statistics (ONS) said this morning. The Consumer Prices Index (CPI) rose to 2.1 per cent in May, up from 1.5 per cent in April, beating economists’ forecast of a rise [...]
SPAC boom sees US IPOs hit annual record with half a year to go June 15, 2021 The recent boom in SPAC listings has seen US IPOs already break their annual record, with the year not yet at its half way point. Data from financial services firm Dealogic found that so far this year, stock market floats in the US have raised $171bn, up from the previous record of $168bn, which was [...]
€229m drop in April: Imports from Britain to Ireland continue downward slope June 15, 2021 Irish imports from Great Britain in April decreased 20 per cent from a year ago. Imports have continually fallen since Brexit, according to a Bloomberg report. Ireland’s statistics office today reported imports from Britain fell by €229m compared with April 2020. The greatest decreases were in the imports of “Food and live animals” and “Chemicals and related products”. Goods [...]
Road to recovery: FTSE 100 closes at highest point since the start of the pandemic June 15, 2021 The FTSE 100 has returned to its highest point since the start of the Covid-19 crash that wiped hundreds of billions of pounds off the index last year. The market ticked back up to 7,172.48 after gaining another 25.8 points on Tuesday, a 0.4 per cent rise. It means that the index is currently at [...]
US stocks open near record highs while FTSE 100 stays in the green June 15, 2021 US stocks opened near record highs today as attention turned to the Federal Reserve for cues on whether a jump in inflation will prompt a tapering in monetary policy. The Dow Jones Industrial Average was up 0.1 per cent, while the S&P 500 opened flat, remaining near an all-time time. Meanwhile, the Nasdaq Composite was [...]
To notify or not to notify? The potential perils of uncertain tax treatments June 15, 2021 | City Talk The Government is proposing that large businesses should be required to notify uncertain tax treatments to HMRC. ICAS has responded to the second HMRC consultation on the proposals – the fundamental flaw in the original proposals has not been addressed. They remain poorly targeted, so will potentially impose a burden on all large businesses. Why [...]
Canary Wharf boss: ‘FOMO’ will bring staff back to the office June 14, 2021 Canary Wharf boss: Government must be clear on rules, but FOMO will bring people back to the office