A rates hike may hurt the US economy – so why don't the 2016 candidates seem to care?
Despite volatile markets and a deceptively tepid recovery, the Federal Reserve looks unequivocally committed to raising interest rates – but try getting any of the candidates for president to admit such action could undermine the recovery There was something for everyone in August’s US jobs report. The headline figure for jobs growth was less than […]
Labor day weekend gas prices likely to reach an 11-year low
AAA says gas prices could drop below $2 come Christmas US Labor Department says low gas prices are basically tax cuts This Labor Day customers are likely to pay the lowest gas prices since 2004, according to the American Automobile Association. Related: US crude oil prices hit lowest since 2009, eliminating thousands of jobs Continue […]
Is company's claim of meat without murder too good to be true?
Brooklyn startup Modern Meadow says it is developing laboratory-grown meat but the process currently relies on the blood of unborn calves Meat without murder, or “animal” flesh grown in a lab for human consumption, has been touted as an ethical gourmand’s dream for nearly a century, but is it a fantasy too good to be […]
Australian dollar falls to new six-year low amid economic turbulence
Lower commodities prices and bond yields, slower growth in China and narrowing interest rate differentials all contributed to the fall Ongoing global economic worries have pushed the Australian dollar to a fresh six-year low. The Aussie is currently buying 69.11 US cents after more selling overnight in the wake of jobs figures from America which […]
John Lewis's sales echo wider retail woes with more than 3% fall
Department store’s figures down from last August, as high street sales saw biggest fall since height of financial crisis John Lewis has reported a fourth week of falling sales in the latest sign that retailers endured a grim month in August. The department store said sales for the week ending 29 August were £81.7m, down […]
Canada and Australia feel the squeeze in wake of Chinese economic slowdown
Iron and oil producers proved resilient during the crash of 2008-09 but are now struggling as commodities prices decline In the mining town of Port Hedland, 1,500km north of Perth, modest prefabricated homes called fibro shacks, which were changing hands for more than A$1m four years ago, are now failing to find a buyer at […]
ECB risks renewed criticism with 'magic money tree' sculpture
Work by Giuseppe Penone is part of a €1.25m art project at bank’s controversial billion-euro Frankfurt headquarters The European Central Bank has installed a towering bronze and granite tree sculpture outside the bank’s Frankfurt headquarters as part of a €1.25m (£920,000) art project. The work by Italian artist Giuseppe Penone, instantly dubbed the magic money […]
Car sales up for August bucking miserable retail trend
Poor weather fails to dampen enthusiasm of car buyers as new car registrations rise 9.6% year-on-year Poor weather in August might have dampened high street clothes sales but it seems to have triggered a stampede into car showrooms with a near 10% increase in monthly vehicle sales. The Society of Motor Manufacturers and Traders (SMMT) […]
Stock markets slide after 'mixed-bag' US jobs report – live updates
173,000 new jobs were created in America in August, fewer than expected, giving few clues into when the Fed might raise rates Latest: More fears over global economy NFP misses forecast, but jobless rate hits seven-year low Wage growth picks up… …but labour force participation still weak Preview: A crucial NFP day 5.30pm BST Another […]
AstraZeneca heart disease drug gets wider FDA approval
US Food and Drug Administration approval comes a week after European heart experts endorsed the longer-term use of Brilinta AstraZeneca received a much-needed boost when its blood-thinning drug, Brilinta, a potential blockbuster, was approved by the US health regulator for wider use. The Food and Drug Administration approved Brilinta tablets for longer-term use in patients […]