Castastrophy averted as the U.S. senate vote to pass debt deal. Was there any real doubt a deal would be made? The U.S. Congress has approved a deal to lift the country’s borrowing limit, just days before the world’s largest economy was due to default on its debt. Vote 63-36Read More →
Euro zone inflation eased more than expected in May falling from 7% in April down to 6.1% in May. This is the lowest level recorded 15 months the data suggests. Analysts had expected a May reading of 6.3%. Core inflation, excluding energy and food, also fell more than expected, toRead More →
Accusations It is widely reported that the SEC (Securities & Exchanges Commission) – accuses Ripple, CEO Brad Garlinghouse and co-founder Chris Larsen of breaching U.S. securities laws by selling XRP without first registering it with the regulator. Ripple contests the SEC’s allegations, maintaining the view that XRP should be consideredRead More →
The recent inflation increase heaped on even more misery and pressure for the public as interest rates climb yet again in an effort to curb inflation Interest rate up As UK inflationary pressure increased again, as demonstrated recently by the unexpected move up from 10.1% to 10.4% – the BankRead More →
Swiss bank interest rate is now at 1.5% The Swiss National Bank increased its core interest rate by 0.50% taking the basic rate to 1.5%. The rate change is the fourth consecutive hike, in-line with analyst expectations, despite the recent turmoil in Switzerland’s banking sector. Swiss inflation climbed to 3.4%Read More →
No UK recession in 2023 The UK is expected to avoid a technical recession in 2023, according to the Office for Budget Responsibility. But the economy is still expected to shrink by 0.2%. The most common definition of recession is that of a ‘technical recession’ in which there have been twoRead More →
Highest food prices since 1977 The cost of living rose unexpectedly again last month as food prices increased at the fastest rate since 1977/78 Alcohol prices in restaurants and pubs also increased, as inflation jumped to 10.4% in February from 10.1% in January year to year Clothing costs, particularly forRead More →
Bitcoin gain Bitcoin hit $50,000 on Sunday, reaching a more than 3-month high, as the cryptocurrency continues to rebound. Bitcoin hit an all time high of over $64,000 in April 2021 – then but sold off in June and July, dipping below $30,000. But since mid July, bitcoin has beenRead More →
Market movement Stocks and oil prices fell on Thursday after the U.S. Federal Reserve intimated it could soon cut back its support An increase in the spread of covid-19 delta variant, signs of Chinese economic weakness and the Taliban’s takeover of Afghanistan also spooked investors. FTSE 100, Dow and S&PRead More →
The DOW at a jackpot high! The DOW, S&P 500 and Nasdaq have recently touched all time highs but where now for the U.S. stock market? Is it time for a breather? More upside? Many analysts suggest there is still room for more gains, especially for the S&P 500 –Read More →