Wednesday, 16 January 2019
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Fed asset-shrinking to start next month; rate hike seen in '17

While the central bank left rates unchanged, it cited low unemployment, growth in business investment and an economic expansion that has been moderate but durable this year to build its case for another rate hike in 2017. That neutral rate dropped to 2.9 percent in the new forecast, down from 3 percent in the Fed's June forecast. Surveys of economists show they do not expect the Fed to raise interest rates at this time. Read More »

US Consumers Back New Laws, Class-Action Suits After Equifax Hack

The company has also set up a dedicated call center to assist consumers with questions and signing up for the free offering and has continued to ramp up the call center to reduce wait times. It keeps getting more complicated for Equifax . An emailed statement from the credit-monitoring agency said the executives "had no knowledge" of the breach beforehand. Read More »

Fed Stands Pat On Rates, Will Reduce Balance Sheet In October


A third successive record on Wall Street , fanned by speculation about Trump's economic agenda, was not enough to entice buying in the region as equity dealers cash in recent gains. The caution in raising rates comes as inflation has consistently stayed below the Fed target of 2 percent. "Though one member noted that easier financial conditions might warrant tighter monetary policy (the conventional wisdom), another floated the more avant-garde view that elevated risky asset prices were a ... Read More »

United States dollar edges higher versus yen ahead of Fed meeting


However, the important bit will be whether they maintain their commitment to more gradual rate rises. "In the absence of any convincing hawkish signal - such as a reference to another rate hike being "appropriate soon" - we think the Dollars is likely to follow the historical pattern of moving lower in the aftermath of the FOMC meeting", says Viraj Patel, an analyst with ING Bank N.V. Read More »

Investigators seek answers in Florida nursing home deaths


Firefighters evacuated 158 people from the nursing home . Investigators looking into the deaths of eight residents at a South Florida nursing home that lost its air conditioning amid ongoing power outages following Hurricane Irma said that at least one of them died Tuesday, several hours before authorities say they were alerted to a crisis at the facility early Wednesday. Read More »

Leader Lewis Hamilton stays positive despite Singapore disadvantage


With seven races to go, it's very much in our capability to chase that down by the end of the season. Honda are expected to remain in the sport and team up with Red Bull's sister outfit Toro Rosso , while Carlos Sainz is likely to join Renault as a sweetener for the French manufacturer. Read More »

China's biggest bitcoin exchange to halt trading


Digital currencies developed by authorities could be used for good with the right regulation, Li said . BTC China later tweeted that it will stop all trading on 09/30. Bitcoin tumbled immediately after Chinese bitcoin exchange BTCChina announced that it will stop all trading from September 30. Although none of the major platforms received any official notice , the Bitcoin price remained rather shaky and eventually continue to move downward despite some buy support at key levels. Read More »

America's falling poverty rate, in context


The Boston area - a region that includes parts of southern New Hampshire - saw its median household income rise 3.3 percent past year, from $79,783 to $82,380. "You have growing uncertainty that Washington will be able to create any sort of tax relief or infrastructure plan", Atwater said. In 2017, the number and percentage of shared households remained higher than in 2007, the year before the most recent recession. Read More »

Dollar, UK Stocks Dips on Strong Pound


On month, output prices rose 0.4 percent from July, when it edged up by 0.1 percent. Inflation has shot past the BoE's 2 percent target - surging to its highest level in more than five years according to data released this week at 2.9 percent. Read More »

Household Income Finally Beats 1999 Record


Tuesday's report was based on survey data collected earlier this year for 2016, the final full year of the Obama administration. And although the median income for urban dwellers jumped 5.4 percent previous year to $61,521, households in rural areas saw their earnings basically stagnate at less than $46,000. Read More »

There's good news and bad news about Equifax credit freezes


The complaints were filed in federals courts in Portland and Atlanta on behalf of nationwide classes. Data breaches can happen to any business. These breaches led to more than 143 million people's personal information to be exposed. These are services that will let you know when someone is looking at your credit and may contact you about a new account opened in your name. The website will tell you if your information was stolen. Read More »

'The View' Pounds Ted Cruz Over Porn Fiasco


The anti-same-sex marriage politician would not say which member of his team liked the tweet , adding that disciplinary action over the incident was "still being discussed". Another user said , "I'll pay $10 to any reporter that asks Ted Cruz if he's seen any good movies lately". The senator's communications director, Catherine Frazier , said the "offensive" message was "removed by staff and reported to Twitter " in her own tweet Tuesday. Read More »

US Calls for UN Security Council Vote on North Korea on Monday


Besides having in-depth discussions about handling the North Korean issue, "I want to start concrete talks on ways to cooperate substantively" in such fields as the economy, he said. Trump has urged China to do more to rein in its neighbour, which was typically defiant on Thursday. " Russia and Japan are steadily building up mutual trust, mutually beneficial cooperation, which can not but promote the creation of a favourable atmosphere for finding a solution for the peace treaty". Read More »

Inflation worry continues in August after GST implementation


According to figures from the Office for National Statistics (ONS), fashion costs rose at an annual rate of 4.6% in August. As a result, core inflation jumped to 2.7 per cent, above consensus expectations of 2.5 per cent. Motor fuels were also pushing the overall cost of living higher, with fuels and lubricants rising 1.6 per cent month-on-month in August following a 1.3 per cent fall previous year. Read More »

N. Korea denounces new United Nations sanctions


But it only caps Pyongyang's imports of crude oil at the level of the last 12 months, and it limits the import of refined petroleum products to 2 million barrels a year. The European Union will enforce new United Nations sanctions over North Korea's nuclear programme while pressing ahead with work on fresh measures of its own, the bloc's diplomatic chief said Tuesday. Read More »

Gold slips from one-year high as dollar recovers


Monster storm Irma , which ripped a deadly path through the Caribbean, started to weaken Monday though it was still whipping parts of Florida with fearsome winds and rain, leaving 6.2 million people without power. Spot gold was down 0.7% at $1,337.61/oz. In other precious metals, silver fell 0.4 percent to $17.86 an ounce, down from Friday's five-month high of $18.21, while platinum was down 0.8 percent at $996.49. Read More »

American Airlines expands travel waiver to include more than 50 airports


Pre-recorded TSA security admonishments and greetings from Miami-Dade County Mayor Carlos A. Giménez echoed through the deserted concourses as a skeleton crew of workers emptied trash and cleaned up storm debris. Spirit has closed its Miramar, Fla., headquarters, shifted its operations center to Detroit, and will stop flying from Fort Lauderdale, its biggest airport, late Friday, said Paul Berry, a spokesman. Read More »

Will Equifax See Long-Term Impact After Breach? Probably Not, Experts Say


Last week, Equifax admitted it had been hit with a massive data breach that exposed sensitive personal information - including Social Security and credit card numbers - of up to 143 million consumers. It's unclear at this time whether or not the information taken was encrypted or not, nor who the perpetrators may be. Criminals took advantage of a "U.S. Read More »

How to help Hurricane Irma victims


As Irma heads toward Florida , Gov. Rick Perry cautioned people who lived on both coasts to get ready to evacuate. He said some clients in Florida rearranged their plans, booking flights to Las Vegas to wrap up their vacation. "A nonstop flight through Allegiant to Orlando left (Thursday) morning". American shut down operations at Miami and three other south Florida airports Friday night. Read More »

Facebook reveals Russian links to adverts during presidential campaign


Facebook said that the money was spent on roughly 3,000 ads that ran between June of 2015 and May of this year. The ads, which cost a total of $50,000, were, for example, bought by accounts with U.S. In the past Facebook has denied that its platform has been used to spread fake news. These ads were, of course, created to boost Donald Trump's chances of winning the election while attacking Hillary Clinton . Read More »

European bonds drift up ahead of key ECB meeting


A stellar rally for the single currency is a sharp contrast to the mood at the start of the year, when fears that the populist Marine Le Pen might capture the French presidency had some forecasting the euro would fall to parity against the dollar. Read More »

Stock markets push higher despite North Korea jitters

But Bruce McCain, chief investment strategist at Key Private Bank, said he was not too concerned. ASIA'S DAY: Tokyo's Nikkei 225 fell 0.6 percent to close at 19,385.81 and Seoul's Kospi lost 0.1 percent to 2,326.62. Meanwhile, even China and Russian Federation, who are essentially a two-pronged economic lifeline to the North Koreans, have an interest in not seeing their neighbors engaged in such brinksmanship or, even worse, engulfed in an actual armed conflict in their backyards. Read More »

Oil prices climb as more refineries restart after Harvey


Gas prices all over the country, including Delmarva, are surpassing what analysts predicted. West Texas Intermediate crude oil for October delivery CLV7, +2.69% advanced 54 cents, or 1.1%, to $47.83 a barrel, setting it on track for its highest settlement since August 25. Read More »

Why India won't forgive Modi for gambling on Indian economy with demonetisation


At the time, officials said that at least 20 percent of the outlawed currency was expected to be wiped out as tax evaders destroyed notes rather than open themselves to scrutiny by depositing the cash. After months of dilly-dallying the Reserve Bank of India has finally come out with the figure that almost 99 percent of the currency notes demonetised in November 2016, came back to the banking system. Read More »