US Federal Reserve hikes interest rates for first time in nine years but stresses future hikes will be gradual December 16, 2015 The US central bank has raised interest rates for the first time since 2006. The Federal Reserve lifted its main policy rates 0.25 percentage points, its first hike in nine years and its first interest rate change since 2008. The target range for the federal funds rate is now 0.25 to 0.5 per cent. The dot plots, which show [...]
Fed rate hike reactions: The best Twitter responses to Janet Yellen’s big move December 16, 2015 What to do when the Federal Reserve has raised interest rates from a historic low for the first time in nearly a decade, in a bill of health for the US economy? Why, take to Twitter, of course. Read more: What the world looked like the last time the Fed hiked rates The social media [...]
Here’s how the Federal Reserve’s interest rate hike could impact the world economy December 16, 2015 As the Federal Reserve raised interest rates today, here's how economists think the US policy tightening will impact the world economy: Latin America Central Banks in Latin America are likely to begin hiking rates in response, according to Ian Shepherdson at Pantheon Macroeconomics. The Brazilian real has fallen 32 per cent against the US dollar this year, [...]
Panic Saturday shoppers to splurge £1.1bn on last-minute Christmas presents December 16, 2015 Retailers are bracing themselves for a stampede of last-minute shoppers this Saturday, with more than 12.6m customers tipped to spend over £1.1bn on last minute Christmas presents and food. Consumers will splash out £2.2m every minute on so-called Panic Saturday, leading to a £6bn shopping spree over the six days to Christmas overall, according to research [...]
British Airways €104m fine for price-fixing thrown out by EU General Court December 16, 2015 British Airways has reason to rejoice after a €104m (£75.8m) penalty imposed on it was thrown out by the General Court of the European Union today, on the grounds that the original decision contained contradictions. The airline company was originally landed with the fine following an European Commission decision in 2010 over allegations surrounding its role in an alleged price-fixing [...]
SuperGroup shares jump 12 per cent as profits beat expectations December 16, 2015 Shares in fashion retailer SuperGroup, the maker of Superdry clothing, have soared by nearly nine per cent after unveiling a better-than-expected 54.4 per cent rise in profits. The group made an underlying pre-tax profit of £19.3m in the 26 weeks to 24 October, with revenue up 22.3 per cent to £254.7m. Excluding its ailing North [...]
Slowdown in China is the biggest global risk for 2016, according to the Economist Intelligence Unit December 16, 2015 Leading experts have warned that a persistent slowdown in Chinese growth is the biggest threat to the global economic outlook. Analysts at the Economist Intelligence Unit (EU) said in a new report out today that the Chinese economy is facing “formidable challenges”, citing volatility in the domestic equity markets, slipping export figures and lower capital [...]
UK-headquartered law firm DWF to acquire German BridgehouseLaw at start of 2016 December 16, 2015 UK-headquartered law firm DWF announced today that it is acquiring BridgehouseLaw, a German commercial law firm, on 1 January 2016. The newly combined firm will boast a turnover of £194m and will employ 2,360 staff members across 16 locations. Andrew Leaitherland, DWF's managing partner and chief executive, will continue to lead the overall business post-merger, while Michael Falter, [...]
Technology job market: UK firms more likely to take on an IT contractor than those in the US, although some employers remain reluctant December 16, 2015 The UK seems to have fallen for computer geeks, with 76 per cent of UK businesses making use of IT contractors. According to a survey of executives with hiring and firing responsibilities released today by IT resourcing specialist Experis, a greater proportion UK firms are taking on contractors than in the US (66 per cent), Japan (65 per [...]
St Pancras’ Sourced Market beats £750,000 funding target with a minibond series on Crowdcube December 16, 2015 Sourced Market, the artisan food market based in St Pancras station, has raised £765,000 in a mini bond series on crowdfunding site Crowdcube. The shop/cafe offers a range of artisan food and fresh produce curated from across London's markets and local delicatessens, and will use the investment to fund its expansion with new sites in Victoria and Marylebone planned for next year. [...]
