The number of private-sector jobs created in October rose more than expected, with construction jobs surging in the wake of destructive hurricanes Harvey and Irma. The ADP National Employment showed private-sector businesses added 235,000 jobs in the month. ADP was expected to show private employers added 200,000 jobs in October, up from 135,000 in September. […]
Read moreInterest rates on home loans moved higher again last week, causing both homebuyers and homeowners to back away from the mortgage market. Total mortgage application volume fell 2.6 percent for the week. The weekly seasonally adjusted application index from the Mortgage Bankers Association is now 20 percent lower than the same week a year ago. […]
Read moreCurrency, United States Finance
Bank of England set to raise rates for the first time in more than a decade
The Bank of England (BOE) is widely expected is raise interest rates from record lows Thursday, but market participants will be closely watching for clues on what the U.K. central bank will do next. This will be one of the BOE’s most significant meetings in some time — not only because of the likely rate […]
Read moreRussian President Vladimir Putin is heading to Iran to sign a joint statement with the country’s leaders Wednesday, Moscow said — a move that signals the Kremlin is prepared to remain close to the increasingly isolated state. Putin is due to meet Iranian President Hassan Rouhani and the country’s Supreme Leader Ayatollah Ali Khamenei with […]
Read moreCurrency, United States Finance
Bank of England former policymaker says it doesn’t truly understand the UK economy
A former member of the Bank of England (BOE) told CNBC it’s “unwise” for the central bank to stick to a long-term policy strategy in case it gets wrong-footed by new economic data. On the eve of an expected rate hike by the U.K. central bank, David Miles, a former member of the BOE’s monetary […]
Read moreSpain’s High Court has summoned Catalonia’s deposed leader to testify in Madrid later this week as the country’s judicial system weighs up whether to proceed with criminal charges against the pro-independence leadership. The court in Madrid issued a summons Tuesday for former Catalan President Carles Puigdemont and 13 other members of his government to appear […]
Read moreEuropean stocks are set to open on a positive footing Wednesday, despite a terrorist attack in New York, as investors focus on earnings reports. The FTSE 100 is set to start higher by 18 points at 7,511; the DAX is seen up by 93 points at 13,323 and the CAC 40 is expected to begin […]
Read moreCurrency, United States Finance
Russia's Medvedev says the world shouldn't be dominated by one currency
Russia’s Prime Minister Dmitry Medvedev said on Wednesday that the world should not be dominated by one currency. Russia is also working on its own national payment system, Medvedev told reporters in Beijing during a visit to China. Source: cnbc Russia's Medvedev says the world shouldn't be dominated by one currency
Read moreCurrency, United States Finance
This UK fintech is taking on big banks with business loans — and one key EU law is driving it
A digital invoice finance platform in the U.K. will provide business loans to its customers for the first time, it was announced Wednesday. Financial technology company MarketInvoice enables businesses to sell their unpaid invoices to provide working capital. The firm said it would expand into the business lending market, pitting it against established players such […]
Read more
ONE recent morning in Salem in the state of Massachusetts, a witch ran out of wands. Teri Kalgren, the owner of Artemisia Botanicals, an apothecary and magic shop, attributed the shortage to a witch-inspired boom. People have long flocked to Salem to learn about the infamous witch trials of 1692, in which Puritan hysteria led […]
Read more