Cryptocurrencies are standing in the way of authorities catching “bad guys” who are using payment systems for nefarious purposes, a Bank of America official said Thursday. Addressing a key criticism of bitcoin and its growing list of competitors, Cathy Bessant, BofA’s chief technical officer, said it’s important to differentiate the two major uses of digital […]
Read moreThe Dow may have seen its first five-day win streak since February, but Leuthold Group’s Jim Paulsen isn’t running with the bulls. The firm’s chief investment strategist says he wouldn’t be surprised if stocks soon retest this year’s correction lows due to rising inflation. “You’re seeing more and more evidence that inflation has changed its […]
Read moreU.S. consumer prices rebounded less than expected in April as rising costs for gasoline and rental accommodation were tempered by a moderation in health-care prices, pointing to a steady buildup of inflation. The Labor Department said on Thursday its Consumer Price Index rose 0.2 percent after slipping 0.1 percent in March. In the 12 months […]
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Cheese could be a casualty of Brexit as UK food prices set to rocket, report warns
Food prices in Britain are set to rocket if the U.K. is unable to secure a free trade deal with the European Union (EU), a report by the House of Lords warned Thursday. A bleak assessment by the upper house of Britain’s parliament said that failure to secure a tariff-free deal would split Britain into […]
Read moreApple has scrapped plans for an 850 million euro ($1 billion) data center in Ireland. The tech giant said Thursday that it would not be going ahead with the project as its planning application had been faced with delays. Ireland’s High Court approved that the company could go ahead with its data center in October, […]
Read moreThe Bank of England (BOE) held interest rates steady on Thursday, after a first-quarter slowdown in economic growth tarnished the case for higher borrowing costs. The decision marked a sharp contrast to widespread expectations of just a few weeks ago, as Threadneedle Street voted 7-2 to keep rates on hold at 0.5 percent. Earlier in […]
Read moreCrude oil hasn’t seen these kinds of highs in more than three years. Now market watchers are asking, “Will it stay there?” To Boris Schlossberg, managing director of BK Asset Management, the answer lies in the Middle East. “That’s the key story here: Iran. Obviously geopolitics is what’s driving oil at this point,” Schlossberg told […]
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Bank of England's Carney gives press conference after interest rates left unchanged
Bank of England Governor Mark Carney is addressing a press conference following the U.K. central bank’s decision to leave interest rates unchanged. The decision was mostly expected after Carney gave dovish comments in an interview with the BBC, saying that Brexit uncertainty could slow the pace of rate hikes. Markets were pricing in less than […]
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AIR FRANCE likes to present itself as a cut above other European airlines. Offering fancy French food and free champagne in economy class on long-haul flights, the company’s strategy is to justify its high ticket prices by offering a premium service. But facing intransigent unions at home and competition from abroad, the airline’s financial fizz […]
Read moreAs the 10-year Treasury yield holds steady around 3 percent, some may wonder whether higher rates are here to stay. Boris Schlossberg, managing director of foreign exchange strategy at BK Asset Management, said the breakout on the 10-year yield would last. He explained why Wednesday on CNBC’s “Trading Nation.” • The natural pressures of steady […]
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