US stocks rise sharply as investors recover from China panic August 26, 2015 US stocks surged upwards today, bringing an end to six consecutive days of declines. Read more: US markets rise but FTSE closes lower as China uncertainty continues At close, the S&P 500 was up 3.9 per cent, while the Dow Jones Industrial Average and Nasdaq ended the day 3.96 per cent higher and 4.24 per [...]
September interest rate hike looks “less compelling” in light of China slowdown, says Fed policymaker William Dudley August 26, 2015 A September interest rate rise by the Federal Reserve is now “less compelling”, according to William Dudley, President of the central bank's New York office. "From my perspective, at this moment, the decision to begin the normalization process at the September FOMC meeting seems less compelling to me than it was a few weeks [...]
UK housing market: Remortgaging spurred on by Bank of England interest rate hike threat August 26, 2015 Remortgaging has surged as the prospect of an interest rate rise leads homeowners to lock in better deals. The number of people switching to lower rates was 29 per cent higher in July than in the some month last year, figures released yesterday by the British Bankers’ Association (BBA) showed. “Savvy homeowners are snapping up [...]
YouTube gives Twitch a run for its money with a new live gaming service August 26, 2015 After months of development, YouTube Gaming has officially been launched. Read more: Twitch – what is it and why has Amazon just spent nearly $1bn on it? The live-streaming video gaming service, which comes as an app and a website, will take on rivals such as Daily Motion and Amazon-owned Twitch. Google, which [...]
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 [...]
Paddy Power share price rises as revenue jumps despite increases in tax and regulation August 26, 2015 Paddy Power reported revenue of €80m (£58.4m) in the first half – as it said it expects to exceed analysts' expectations for year-on-year profit growth. The company's shares rose 18 per cent to €91.86 as it unveiled plans for a merger with rival Betfair. The figures Operating profits at the company rose €80m in the six months [...]
Abercrombie share price surges as second quarter beats expectations August 26, 2015 Shares in struggling US fashion chain Abercrombie & Fitch surged more than 13 per cent in pre-market trading in New York, after the company reported better than expected earnings. Sales at the company, which also owns the teen-friendly Hollister brand, dipped eight per cent in the second quarter to $817.8m, but came in ahead of [...]
Paddy Power results: The five best quotes – Donald Trump, Ashley Madison, Greek debt crisis August 26, 2015 It's that time of year in the corporate earnings calendar when Paddy Power tells the City what's been going on, and business has been a little like Donald Trump's hair and Jeremy Clarkson's steak throwing skills in the first half of the year. Read more: Paddy Power earnings jump as it unveils Betfair merger There was [...]
