Roche shares tumbled to rank among the worst performers in European trade on Monday following news of the failure of trials for its skin cancer treatment Zelboraf. The disappointing results came alongside confirmation that similar products from compatriot and rival Novartis had met their aims. Roche shares were trading 1.35 percent underwater by 12:30 p.m. […]
Read moreWhen the federal, state and local governments in Florida and Texas total the bills from hurricanes Irma and Harvey, the Federal Reserve is going to be forced to put any further interest rates this year on hold, closely watched contrarian strategist Mark Grant told CNBC on Monday. “With the cost of Harvey and now the […]
Read moreNearly three-quarters of Americans are willing to pay increased taxes or tolls to fund roads and other transportation infrastructure, according to a survey from HNTB Corp. to be released on Monday that was seen by Reuters. The number rises to 84 percent if those tax and toll hikes are mandated by law to be spent […]
Read moreHurricane Irma’s path of destruction up Florida’s Gulf Coast on Sunday threatens to disrupt a thriving state tourism industry worth more than $100 billion annually just months ahead of the busy winter travel season. Some of the state’s biggest attractions have announced temporary closures, including amusement park giants Walt Disney World’s Magic Kingdom, Universal Studios, […]
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What to expect ahead of the Bank of England’s September policy meeting
The Bank of England is expected to hold interest rates steady and make no changes to its asset purchasing program when it gathers Thursday for its September Monetary Policy Committee meeting. The central bank is set to keep interest rates at a record low of 0.25 percent and maintain its quantitative easing (QE) program at […]
Read moreDisaster relief for the victims of Hurricanes Irma and Harvey isn’t just about immediate necessities like food, clean water and shelter. It could also come wrapped up in the tax code. Texas Republican Rep. Kevin Brady, head of the House Ways and Means Committee, is floating several proposals intended to provide relief for those suffering […]
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From Wall Street to Main Street: Goldman reportedly eyes UK to deepen its push into retail banking
Goldman Sachs is looking to expand its retail banking offerings to the U.K., and aims to start an online deposit business around the middle of 2018, the Financial Times reported on Sunday. The move is planned as an expansion of the bank’s Marcus by Goldman Sachs brand, a digital consumer-lending platform that it launched last […]
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IF THERE is a consensus at the moment, it is that the global economy is finally managing a synchronised recovery. The purchasing managers’ index for global manufacturing is at its highest level for six years; copper, the metal often seen as the most sensitive to global conditions, is up by a quarter since May. But […]
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France’s Macron hails democracy in Athens — and takes a sideswipe at the IMF
French President Emmanuel Macron delivered an ambitious vision for how the European Union should reform, but used the opportunity to lash out the International Monetary Fund (IMF) for its role during the euro zone debt crisis. Macron was in Athens for a two-day visit, accompanied by 40 business executives from companies including Total and Vinci […]
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Confused by the ECB? Here’s what could happen at its important October meeting
The European Central Bank (ECB) delivered a mixed bag of information for investors at its policy meeting this week, leaving many scratching their heads as to what it’s actually likely to announce at its October get together. The ECB held interest rates steady on Thursday and said that it would stand ready to extend its […]
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