Epic Games and The Lego Group have teamed up to create a LEGO® Fortnite® Video Game, which was released inside Fortnite 7th December 2023. This new survival game will allow players to explore vast, open worlds where the magic of LEGO building and Fortnite collide. It’s designed for people of all agesRead More →
U.S. citizens have accumulated a record-breaking $1 trillion in credit card debt. The Federal Reserve’s interest rate hikes through 2023 have caused average interest rates for credit cards to spike to more than 22%. Rates on retail credit cards are even higher, nearing 29% on average. Despite rising costs and higher borrowingRead More →
Online investments app Robinhood said Thursday 30th November 2023 that it’s set to launch its platform in the U.K. in early 2024, marking the company’s third attempt at cracking international expansion. Features on offer by the firm include the ability to choose from 6,000 U.S. stocks including Tesla, Amazon and Apple, andRead More →
U.S. GDP figure better that forecast The U.S. economy grew even stronger than previously calculated in the third quarter, the result of better than expected business investment and stronger government spending, the Bureau of Economic Analysis reported Wednesday 29th November 2023. Gross domestic product (GDP), a measure of all goodsRead More →
Some expect gold to above climb $2,500 Gold prices are on track to rally to all-time highs in 2024 on the back of interest rates increases, inflation fear, looming recessionary concerns and geo-political unrest. The precious metal is always sought after as a safe haven asset. The gold price hit aRead More →
Gold prices on Monday 27th November 2023 climbed to a more than six-month high as the U.S. dollar weakened. Investors, it is reported, have placed their bets, suggesting the Federal Reserve is finished with interest rate hikes. Gold was up around 0.52% at $2,012 per ounce in early afternoon trading (LondonRead More →
U.S. Inflation was flat in October from the previous month, providing a positive sign that high prices are finally easing their tight grip on the U.S. economy. Is this also a green light for the Federal Reserve to stop raising interest rates. The consumer price index (CPI) was flat inRead More →
Moody’s, a credit rating agency, lowered its ratings outlook on the United States to negative from stable. This means that Moody’s sees a higher risk of a downgrade in the future, which could affect the borrowing costs and confidence of the U.S. government. Moody’s actions The main reasons for Moody’sRead More →
U.S. citizens now owe $1.08 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. U.S. Household Debt Rises to $17.29 Trillion Led by Mortgage, Credit Card, and Student Loan Balances Total household debt rose by 1.3% to reach $17.29 trillion in the thirdRead More →
The market reaction to the U.S. jobs report comes down to a simple observation: bad news is good news, as long as it is not too bad. Stocks rallied sharply after the Labour Department said nonfarm payrolls rose by 150,000 in October 2023, 20,000 fewer than expected but a difference caused mostly by theRead More →
The U.S. central bank has held its key interest rate at its current 22-year high as it seeks to stabilise price increases, which had recently reached near-record levels. The Federal Reserve’s rate remains at 5.25%-5.5%. The bank has been raising interest rates in an attempt to tame the economy andRead More →
The White House has announced what it is calling ‘the most significant actions ever taken by any government to advance the field of AI safety’. Oh really! Coincidence or deliberate attempt to undermine the UK AI safety drive? This news comes as the UK draws attention hosting a UK ledRead More →
According to the latest data from the U.S. Bureau of Economic Analysis, the U.S. GDP grew at a 4.9% annual pace in Q3 of 2023, better than expected. This was the fastest quarterly advance in nearly two years, driven by robust consumer spending, increased inventories, exports, residential investment and government spending.Read More →
Central banks, 18 months ago got it fundamentally wrong and they got it wrong on many other occasions too. So why take any notice? The Fed and other central banks insisted that inflation would be ‘transitory’ – it wasn’t. It reached 7%. That’s 5% above the target of 2%. Along withRead More →
The amount of U.S. debt is a complex and controversial topic that has different perspectives, implications and opinion. According to the U.S. Treasury Fiscal Data, the national debt of the United States was $33.52 trillion as of 23rd October 2023. This includes both the debt held by the public, which is the amountRead More →
The U.S. Treasury yields are the interest rates that the U.S. government pays to borrow money for different periods of time. The 10-year Treasury yield is one of the most important indicators of the state of the economy and the expectations of inflation and growth. On 23rd October 2023, the 10-yearRead More →
Stocks retreated Friday as a surge in the 10-year Treasury yield prompted broader concerns about the state of the economy. The Dow Jones Industrial Average (DJIA) is one of the most widely followed stock market indices in the world. It tracks the performance of 30 large U.S. companies from various sectors, suchRead More →
The average rate on the U.S. 30-year fixed mortgage rate hit 8% on Wednesday 18th October 2023, according recently released data. That is the highest level since 2000. The unwelcome milestone came as bond yields soared to levels not seen since 2007. Mortgage rates follow the yield of the 10-year U.S. Treasury.Read More →
Bitcoin ETF approval? The price of Bitcoin is influenced by many factors, such as supply and demand, market sentiment, news events, regulations, and technical analysis. One of the recent news events that affected the price of Bitcoin was the speculation about the approval of a Bitcoin ETF by the U.S.Read More →
Microsoft has said it will contest a U.S. tax authority’s request to pay an additional $28.9 billion (£23.5 billion) in back taxes for the years 2004 to 2013. The Internal Revenue Service (IRS) has been auditing how the firm allocates profits among countries and jurisdictions. Microsoft reportedly said, ‘the issues raised byRead More →
The interest the government pays on national debt has reached a 20-year high as the rate on 30-year bonds touches 5.05%. A rise in the cost of borrowing comes at a difficult time for the chancellor, Jeremy Hunt, as he prepares for the autumn statement on 22nd November 2023. TheRead More →
The latest U.S. jobs report for September 2023 was released on Friday, October 6, 2023. The U.S. economy added 336,000 jobs last month, much more than expected, despite the Federal Reserve’s struggle to cool the world’s largest economy. The unemployment rate was 3.8%, in line with August 2023. The data lifted hopes thatRead More →
The average rate on the popular 30-year fixed mortgage rose to 7.72% on Tuesday 3rd October 2023, according to latest data Mortgage rates follow loosely the yield on the 10-year Treasury, which has been climbing this week following strong economic data. Rates have not been this high since the end of 2000. AtRead More →
The stock market has been experiencing some volatility and uncertainty in September and October 2023, as investors fret about inflation, interest rates, and the possibility of a U.S. recession. Main facts affecting the current stock market The month of October has produced some severe stock market crashes over the pastRead More →
Highest yields since 2007 The U.S. Treasury yields are the interest rates that the U.S. government pays to borrow money. The 10-year and 30-year Treasury yields are the most widely followed indicators of the long-term health of the U.S. economy and the expectations of inflation and growth. 10 year yield atRead More →
Gold value has been slipping in recent months of 2023 – here are some of the reasons gold prices fluctuate. Dynamic market Gold is a precious metal that is often seen as a safe haven investment and a store of value, but it is also subject to the forces ofRead More →