The Sterling dropped the most in a month against the greenback after a report indicated U.K. retail sales dropped unexpectedly in August. The Pound weakened 0.5% to $1.6068 as of 10:08 a.m. in London, the most since August 22. The British currency slid 0.8% to 84.40 pence per Euro. The 10-year British government bonds lost 0.15 percentage point to 2.85%,
Global stocks advanced to a five-year peak and metals skyrocketed on the Fed's unexpected refrain from tapering. Corporate creditworthiness soared to a two-year best level. The MSCI All-Country World Index rose 1.2% as of 6:25 a.m. New York time, while S&P's 500 Index futures gained 0.5%. Meanwhile copper advanced 2% and WTI oil added 0.6%
Microsoft Corp., one of the leading software developers in the world, announced on Wednesday a 22% surge in dividend for the second quarter of 2013. Thus, Microsoft will pay its shareholders $0.28 per share, 5% more than for January-March. Company regularly pays dividend since year 2004. Microsoft Corp. stocks were trading 0.64% higher to $33.14 on Wednesday at 15:00 GMT
Inequality in the United States continues to expand, even though the economic crisis has passed its bottom point. According to the Census Bureau data, nowadays 15% of all Americans still live in poverty, and from 2007 this rate increased by 2.5%. Moreover, statisticians point out that since 1967 median income for wealthy U.S. citizens increased by 67%, but for middle
American governmental agencies and departments are preparing for a possible temporary closure, as Congress still did not approved the next financial year's budget, which starts on October 1. Moreover, the most important problem remains the debt ceiling that will hit its maximum value of $16.7 trillion in the middle of October, but Congressmen still cannot reach agreement on this issue.
Current government of Germany is going to invest more than 2.5 billion euro from budget money to support green energy and slow the climate change. This amount of money is planned to be spent by 2017. The idea of creating the energy fund is a part of country's 550-billion euro program to become the nuclear-free, closing all nuclear power plants
Portugal government issued new bonds on Wednesday with a maturity of 18 months, borrowing as much as 750 million euros. The average yield reached 2.293%, the highest since November 2011, when the government issued the similar bonds with a yield of 2.99%. Moreover, just three months ago investors asked for 1.6% in interest. Economists explain the higher rates by recent
George Osborne, the U.K. Chancellor of Exchequer, defends the high-speed rail project in the country that can possibly boost the economic growth and employment in Britain. The new rail link, which is planned to be built from the capital to Birmingham, Manchester and Leeds, will cost around 43 billion pounds. It is expected the construction to be started in 2017
The Pound advanced to eight-month high versus the Dollar and Euro as BoE minutes indicated that officials find additional monetary stimulus unnecessary as the economy improves. Sterling gained 0.4% to $1.5964 as of 1:44 p.m. in London following a growth to $1.5980, while gaining 0.4% to 83.62 pence per common currency after achieving 83.53 pence.
Soybeans dropped for a fourth consecutive day in Chicago amid speculation that weather forecast for U.S. Midwest will increase crop outlooks following recent dry weather. November delivery soybeans slid 0.4% to $13.37 per bushel as of 7:42 on the Chicago Board of Trade after the oilseed gained 6.8% from the end of June. December delivery corn was stable at $4.54
The Yen traded almost at its highest in two weeks versus the U.S. Dollar, backed by technical buying, while traders await the FOMC meeting outcome released later today. The Japanese currency added 0.2% to 98.94 Yen per Dollar at 10:06 a.m. GMT, while gaining 0.25% to 132.10 Yen per Euro but dropping to 157.99 Yen against the Pound.
West Texas Intermediate soared after decreasing for four days before Fed decision about bond purchases. Futures advanced 1.1% and crude stocks fell by 1.2 million barrels to 359 million last week. October delivery WTI gained $1.15 to $106.57 per barrel on New York Mercantile Exchange, while November settlement Brent added 5 cents to $108.24 per barrel on London-based ICE Futures Europe exchange.
The greenback dropped toward a two-week bottom versus the Yen before the Fed announces today whether it will decrease its $85 billion of monthly asset buying program. The Dollar fell 0.3% to 98.88 Yen as of 10:05 a.m. London time after soaking to 98.46 Yen on September 16 and The Japanese currency rose 0.3% to 132.04 per Euro.
West Texas Intermediate crude lost for a third day as U.S. deal with Russia to remove Syria's chemical weapons reduced risk of supply. October delivery WTI fell 0.7% to $108.54 per barrel at 10:50 a.m. on the New York Mercantile Exchange. The European benchmark's premium to WTI soaked from $3.88 to $3.20 yesterday. November delivery Brent dropped 1.4% to $108.54
The loonie advanced for a second day on factory sales increase at the fastest speed in five months through July, backing the case of economic recovery. Factory sales gained 1.7% to $48 billion, topping expectations. The Canadian dollar climbed 0.1% to 1.0314 Canadian Dollar per U.S. Dollar as of 8:46 a.m. Toronto time, after reaching 1.0283 per U.S. Dollar yesterday.
U.K. government bonds dropped first time in five days before BoE interest-rates guidance program minutes to be published tomorrow. The 10-year gilt yield added 0.3% percentage point to 2.91% as of 12:26 p.m. in London. The September 2023 2.25% security lost 0.22 per 1,000-pound face value, to 94.33.
A significant decline in income led to the drop in the current account surplus of the Eurozone to 16.9 billion euro July, 2013. The value for June was 19.8 billion euro. It is worth pointing out that trade balance of goods surged from 12.3 billion euro to 13.5 billion euro, while surplus for services decreased slightly. Income surplus shrank more
Stock prices of leading American banks jumped to the highest levels since crisis, while some have already overcome them. JP Morgan Chase, Wells Fargo and Goldman Sachs share prices surged the most, while Morgan Stanley is coming closer to the pre-crisis level. Still, such banks as Bank of America and Citigroup are now trading 50% below the 2008 levels, when
The government of the United Kingdom announced a sale of its stake in the county's biggest mortgage lender Lloyds Banking Group Plc for 3.2 billion pounds. About 6% or 4.28 billion shares of the bank were sold, while the price per share reached 75 pence. Despite that, the U.K. government still owns a stake in another bank, the RBS Group,
After Lawrence Summers' denial to participate in the race for Fed presidency, the Central bank's current vice-president Janet Yellen became the top candidate for taking the seat and become the first chairwoman. Markets could approve her candidacy, as she supports the QE program and may pause the tapering. Barack Obama is going to announce his choice not as earlier as
The Reserve bank of Australia's officials said on Tuesday that there still is a possibility of cutting main interest rates, if the economic conditions in the country become worse and the investment continue falling. After today's meeting the RBA decided not to change the interest rate, leaving it at 2.5%. RBA economists pointed out that slumping dollar exchange rate may
One of the leading technology companies and software developers in the world, Microsoft Corp., is introducing a new Bing searching service logo to raise an overall popularity of it. Nowadays, the leading company on this market is Google with a market share of 66.9%, while Bing holds only 17.9%. Microsoft Corp. stock prices lost 0.7% to $32.80 during the Monday's
The largest retailer in the U.S., Wal-Mart Stores Inc., is going to offer its clients a discount on new iPhones from Apple Inc. New iPhone 5C will be offered for $79 with a contract, a $20 discount from the usual price, while more exclusive iPhone 5S can be purchased for $189, $10 cheaper. At the pre-market on NYSE the Wal-Mart
Intel Corp., an American semiconductor manufacturer, announced 1100 job cuts by the end of this year, including closure of a plant in Massachusetts, where 700 jobs are supposed to be eliminated. 400 more jobs of Intel will go at its facility in New Mexico. Before the opening of the market Intel Corp. futures are trading 0.77% higher from Friday's closure,