U.S. Stocks Fluctuate With Treasuries on Fed Comments; Oil Drops
U.S. stocks fell as the Fed said valuations for smaller companies in social media and biotech appear “substantially stretched.”
Will U.K.’s Entry Into Islamic Finance Help Boost Growth?
The U.K intends to enter the world of Islamic finance with the issuance of an Islamic bond and the creation of an Islamic index.
August Deficit Hits Record in U.K.
Chancellor of the Exchequer George Osborne could be in for some tough times from the British public should he continue to push through cuts in an attempt to contain the deficit.
NHS Hospitals Urged to Expand Overseas
Britain is urging major hospitals in its National Health Service to look beyond the country’s borders and offer foreign governments access to U.K. health services in the quest for profit.
Greece Forms New Government
On Wednesday Greece managed to agree in principle to form a conservative coalition government, with three pro-bailout parties agreeing to cooperate and giving the coalition a majority of 179 seats.
U.K. in Double-Dip Recession
For the first time since the 1970s, the U.K. is in a double-dip recession. A construction slump added to a fall in GDP in Q1.
BoE Could Pause QE
Adam Posen switched his vote on quantitative easing at the last meeting of the BOE Monetary Policy Committee, clearing the way for a possible pause in quantitative easing in May.
Gilts Drop on Austerity
While yields are still near record lows and support lingers for austerity policies in some sectors, those policies are backfiring on the bond market in the U.K., with gilts losing 1.92% in Q1.
U.K. Unemployment Higher Than Expected
The rise in the rate of claims may push criticism that cuts in government spending by Prime Minister David Cameron are too aggressive as he attempts to reduce Britain’s deficit. Consumer confidence is sagging, based in part on fears of job loss, and the country’s economy contracted in Q4 of...
European Debt Crisis ‘Systemic:’ Barroso
The euro came within two cents of a five-week low after European Commission President Jose Barroso said the eurozone is confronting a “truly systemic crisis.” Word that the European Central Bank was buying up Spanish and Italian debt helped to reverse that fall, however.