The Globe of Economic Complexity: Compare all the world’s economies on this digital map August 26, 2015 A map created by Harvard University researchers visualises the trillions of dollars worth of trade exchanged between all the world's economies. Read more: UK named world's fifth biggest economy thanks to sex and drugs boost Called the Global Map of Economic Complexity, it uses illuminated dots to represent each export from a given country. [...]
NY Federal Reserve’s Bill Dudley: Interest rate hike in September is now less compelling August 26, 2015 To hike or not to hike? That is the question. Bill Dudley, chair of the New York Federal Reserve, has suggested the interest rate rise we all thought was coming in September is now "less compelling", thanks to the market volatility which has caused equities to swing wildly over the past few days. Read more: US [...]
As global markets selloff continues, here’s what seven analysts think of today’s market turmoil August 26, 2015 Market turmoil is widespread today, with gains being wiped off indices in Asia, European markets opening lower, and the FTSE 100 edging towards 6,000. What do analysts make of the developments? Here's a round-up: 1. "The news propped up a malaise in markets" – Bernard Yaros, Moody’s Analytics The release of the weakest Chinese manufacturing [...]
Why the finance sector is still the place for bonuses – despite a decline in payouts August 26, 2015 Finance sector workers are being paid billions less in bonuses than they were before the 2008 financial crisis, figures by the Office for National Statistics showed this morning. Total bonus payments in finance and insurance reached £13.6bn in the year to April, £5bn less than their pre-recession peak. Economy wide bonuses are just 0.1 per cent [...]
Chinese markets finish lower as volatile trading continues August 26, 2015 Chinese markets closed lower again today after a brief rally in afternoon trading. Having breached the 3,000 mark during afternoon trading, the Shanghai Composite closed 1.3 per cent down at 2,926.3 points, marking its fifth consecutive day of decline, while the Shenzhen Composite closed more than three per cent down at 1,695.8 points. But the [...]
Chinese economic crisis: China cuts rates as a pick-me-up after stock market crash August 26, 2015 Aftershocks from Monday’s chaos rippled through global markets yesterday, with shares bouncing back in parts of the west and China providing a shot in the arm for its battered trading floors and wavering economy. Following the worst worldwide stock market rout in years, the FTSE came out fighting and recorded its biggest one-day rise [...]
US stocks dive back down in final hour of trading, erasing all of the day’s gains August 25, 2015 Black Monday spilled over into Tuesday in the US, when stocks plummeted down in the final hour of trading. Read more: Black Monday 2015: US stocks battered in biggest fall since 2011 At close, the Dow Jones was down 1.3 per cent compared to yesterday, while the Nasdaq and S&P 500 were 0.4 per cent [...]
FTSE 100 has biggest one-day rise in four years August 25, 2015 The FTSE 100 closed three per cent higher today at 6,081, as China's decision to cut a key interest rate restored confidence in UK investors. Read more: FTSE 100, Dax and Cac rise as hangover sets in after China stock market crash The People's Bank Of China announced this morning that it was going [...]
Saudi Arabia begins quest for austerity as its economy sinks in plunging oil prices August 25, 2015 There's no escaping the market meltdown – even Saudi Arabia, which for years has revelled in its oil-rich economy, is having to consider austerity measures. Read more: Saudi Arabia's Tadawul stock exchange opens to foreign investors: Here are six companies you should watch According to anonymous sources who spoke to Bloomberg, the kingdom is [...]
Tech stocks rebound on Nasdaq – Netflix, Facebook, Amazon and Apple share prices are on the up after Black Monday August 25, 2015 Tech stocks have rebounded after a dismal Black Monday. Netflix has had one of the biggest rallies in early morning trading, up around seven per cent, while Apple was up around 4.5 per cent. The tech-heavy Nasdaq, on which Apple is the heaviest weighted stock, was up more than three per cent after global markets [...]
