“Working from home again I see – and what’s this one called?” – “I call it… TABLET!”
2024-09-30
“That’s a good one – could be worth a few bob”.Read More →
“How wonderful it is that nobody need wait a single moment before starting to improve the world.”
2024-09-30
Anne Frank 1929 – 1945 Annelies Marie “Anne” Frank, 1929 – 1945 was a German-born Jewish girl who authored a diary that chronicled her family’s life while concealed during the Nazi occupation of the Netherlands. The renowned diarist, Anne Frank, detailed daily existence from their secret refuge in an Amsterdam attic. Frank kept andRead More →
Swiss central bank cuts rates by 0.25% in third reduction this year
2024-09-30
The Swiss National Bank on Thursday 26th September 2024 took another step to loosen monetary policy this year, bringing its key interest rate down by 0.25% to 1.0% The cut in interest rates occurs against a backdrop of muted domestic inflation and a surge in the Swiss franc’s value. Notably,Read More →
Mervyn King’s perspective on interest rates and inflation – too low for too long
2024-09-30
Lord Mervyn King, the former Governor of the Bank of England, has been a prominent voice in the ongoing debate about interest rates and inflation. His insights are particularly valuable given his extensive experience in central banking and economic policy King has been critical of the Bank of England’s approachRead More →
UK economic growth revised down to 0.5%
2024-09-30
The UK’s economic growth for the period between April and June 2024 was lower than initially estimated, as reported by the ONS The Gross Domestic Product (GDP), which quantifies the economic activity of companies, governments, and individuals within a country, increased by 0.5%, a revision from the preliminary figure ofRead More →
U.S. Fed preferred inflation measure came in at 2.2% in August 2024
2024-09-27
In August 2024, U.S. inflation edged closer to the Federal Reserve’s target, potentially paving the way for future reductions in interest rates, according to a report from the U.S. Commerce Department released Friday 27th September 2024 The personal consumption expenditures price index (PCE), which is the Fed’s preferred gauge forRead More →
China’s tech stocks rally to 13-month high on new stimulus
2024-09-27
Chinese technology stocks, such as the previously underperforming Alibaba, have surged this week, reaching peaks not observed in over a year The stock surge follows the announcement of stimulus measures by China’s central bank to boost the world’s second-largest economy. On Thursday 26th September 2024 in the U.S., Alibaba’s sharesRead More →
Yuan hits strongest level against U.S. dollar in over 16 months
2024-09-26
China’s yuan hit its strongest level in over 16 months on Wednesday 25th September 2024 after Beijing unveiled a slew of stimulus measures to shore up the slowing economy on Tuesday 24th September 2024. The Chinese yuan had weakened against the U.S. dollar over the last several weeks, as theRead More →
Chinese stocks up sharply after Beijing confirms stimulus measures
2024-09-26
Chinese stocks continued to rise following state media reports that China’s top leaders have endorsed the government’s recent measures to bolster their economy. The CSI 300 index in Mainland China continued its rally for a seventh consecutive day, reaching its highest point in about four months, subsequent to a meetingRead More →
U.S. consumer confidence falls the most in three years
2024-09-26
In September 2024, consumer sentiment plummeted, marking the most significant drop in over three years, driven by escalating concerns over employment and business conditions, according to a report by the Conference Board released on Tuesday 24th September 2024. The consumer confidence index reportedly fell to 98.7 from 105.6 in AugustRead More →
UK’s wealth creators are threatening to exit en masse ahead of proposed tax changes
2024-09-20
Labour’s proposal to dismantle the UK’s non-dom tax system may lead to an exodus of the ultra-wealthy, as advisors and research bodies have cautioned. Switzerland, Monaco, Italy, Greece, Malta, Dubai, and the Caribbean are becoming popular relocation destinations, sensing the apprehension among affluent investors. Meanwhile, London’s super-prime real estate marketRead More →
Dow up 500 points, S&P 500 closes above 5700 as both reach new highs!
2024-09-20
Stocks soared on Thursday 19th September 2024, with the Dow Jones Industrial Average and the S&P 500 reaching new record highs, following the Federal Reserve’s decision on Wednesday to cut interest rates by half a percentage point. The Dow Jones climbed 522.09 points to close at 42025, surpassing 42000 forRead More →
UK, Japan and China leave rates unchanged after jumbo U.S. cut
2024-09-20
Bank of England holds UK interest rate at 5% Interest rates are “now gradually on the path down”, the Bank of England governor reportedly said after borrowing costs were held at 5%. He later reportedly remarked that inflation had “come down a long way” but warned the Bank would needRead More →
London is again Europe’s best stock market!
2024-09-19
The London Stock Market has recently been hailed as Europe’s best stock market! According to a survey by Bank of America, Wall Street says that the UK is now the most preferred equity market in Europe. This positive sentiment comes as the FTSE 100 hit recent highs, reflecting a shiftRead More →
U.S. cuts interest rate aggressively by 0.50% bringing the Fed rate range to 4.75% – 5.0%
2024-09-18
The Federal Open Market Committee (FOMC) has voted to reduce the interest rate by 0.50% after having maintained its benchmark rate within the range of 5.25% to 5.50% since July 2023 The previous rate was the highest seen for 23 years and remained unchanged even though the Fed’s favoured inflationRead More →
UK inflation sticks at 2.2% unchanged in August 2024
2024-09-18
UK inflation was reported at 2.2% for August 2024, according to the Office for National Statistics (ONS) data released on Wednesday 18th August 2024 The consumer price index (CPI) figure aligned with the forecasts of analysts and remained consistent with July’s inflation rate of 2.2%. Previously, the headline CPI hadRead More →
Big Tech aiming to raise $100 billion for AI data centres
2024-09-17
In a substantial effort to strengthen the infrastructure required for artificial intelligence (AI), BlackRock and Microsoft have unveiled a significant fundraising endeavour. The initiative, dubbed the Global AI Infrastructure Investment Partnership (GAIIP), seeks to secure $30 billion in private equity capital, with the possibility of leveraging up to $100 billionRead More →
Gold rushes to a new all-time high
2024-09-16
Gold prices have soared to unprecedented levels, reaching a new all-time high of $2,585 per ounce This surge is driven by a mixture of economic and geopolitical factors that have heightened investor interest in the precious metal. One of the primary catalysts for this rise is the anticipation of aRead More →
UK High Street woes continue as 38 shops reportedly close every day
2024-09-13
In the first half of this year, pharmacies, pubs, and banks accounted for half of the closures on Britain’s High Streets, according to data. A total of 6,945 stores have shut down in 2024, averaging 38 closures per day Taking new store openings into account, the net closure rate standsRead More →
U.S. PPI wholesale prices rose 0.2% in August 2024
2024-09-12
In August 2024, wholesale prices saw an increase that was roughly in line with expectations, marking the final inflation data point before the Federal Reserve’s anticipated interest rate cut due on 18th September 2024 The Bureau of Labor Statistics announced on Thursday 12th September 2024 that the producer price indexRead More →
Cooling inflation allows the European Central Bank to cut interest rates again
2024-09-12
On Thursday, 12th September 2024, the European Central Bank announced a 0.25% interest rate cut, its second reduction of the rate this year This expected decision follows a period of sluggish economic growth in the eurozone and a decrease in inflation, which approached the central bank’s 2% target in August.Read More →
UK says data centres are critical infrastructure and are designated as important as the power grid and the NHS
2024-09-12
UK data centres are set to be classified as critical national infrastructure (CNI), aligning them with sectors such as emergency services, finance, healthcare, and utilities This classification will ensure they receive additional government support during major incidents like cyber-attacks, IT outages, or severe weather, to reduce disruption. Data centres, largeRead More →
The AI Race between China and the U.S.
2024-09-12
Artificial Intelligence (AI) has become a pivotal battleground in the technological race between China and the United States. “AI is expected to become a crucial component of economic and military power in the near future,” Stanford University’s Artificial Intelligence Index Report 2023 stated. Both countries are significantly investing in AIRead More →
A politician in training – “OK! So, I’ve mastered the ‘smile’ – now what?”
2024-09-11
A politician in training – “OK! So, I’ve mastered the ‘smile’ – now what?”Read More →
In August 2024 – U.S. consumer prices increased by 0.2% with core inflation exceeding expectations
2024-09-11
As anticipated in the U.S., prices rose in August 2024, while the annual inflation rate fell to its lowest point since February 2021, according to a Labor Department report on Wednesday 11th September 2024. This development likely now paves the way for a Federal Reserve interest rate reduction next weekRead More →
Apple loses EU court battle over €13 billion tax bill in Ireland
2024-09-11
Europe’s highest court ruled against Apple on Tuesday 10th September 2024, concluding a decade-long legal dispute over the company’s tax dealings in Ireland. The case dates back to 2016, when the European Commission directed Ireland to reclaim up to 13 billion euros ($14.4 billion) in unpaid taxes from Apple. TheRead More →