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16 September 2014
  • 17:11 Gold Gains as Dollar Dips and China Launches New Stimulus

    Gold advanced the most in more than one week as the US dollar declined and China’s central bank disclosed new stimulus measures, boosting demand for the precious metal as an alternative investment. The People’s Bank of China started a 500 billion yuan ($81 billion) standing lending-facility to the nation’s 5 largest banks, according to Sina.com. The dollar fell against peers as the US Federal Reserve officials meet today and tomorrow and mat give clues on the timing of an interest-rate increase.

  • 17:07 PayPal Mocks Apple in New Ad

    The team at PayPal is clearly not impressed with Apple Pay and they took a swipe at Apple and its new payment platform in a new print ad that appeared in the New York Times, USA Today and San Francisco Chronicle this week. "We the people want our money safer than our selfies," the ad says, referring to the recent nude celebrity photo hack that impacted certain iCloud accounts and prompted Apple to increase its security measures.

  • 17:04 IBM Goes Freemium to Protect Its Analytics Service

    IBM is getting into the freemium space, targeting individual business users with a new data analysis service called Watson Analytics. It helps users analyse data using natural language queries, and could help IBM fend off the myriad products threatening its analytics business from the bottom up.

  • 16:51 US Indexes Rise with Fed’s Meeting in Focus

    The US equity market advanced today as investors awaited signals from the Federal Reserve (Fed) about its future stance on raising interest rates. Fed’s Federal Open Market Committee’s 2-day policy meeting, which began this morning, may offer the clearest insight yet as to whether the US central bank will raise rates sooner than expected.

  • 16:47 GM to Boost US Output of Mid-sized Pickups and Add Jobs

    General Motors Co. will add a third shift and 750 jobs at its Missouri assembly plant to build more of its new mid-sized pickup trucks, the leading US automaker reported today.

  • 16:19 Verizon Offers Early Upgrades as New iPhones Loom

    Verizon Wireless is offering an early-upgrade program for customers whose 2-year contracts are not quite eligible for renewal. The company wrote on Sunday that all Verizon subscribers eligible to upgrade to a new smartphone on or before 15 November will have those dates changed to now, allowing them to get a new handset whenever they see fit, without penalties.

  • 15:54 Microsoft Launches Xbox Controller for Windows

    Microsoft is unveiling new hardware accessories today, including an Xbox controller built specifically for Windows. Other devices include new mice and a keyboard made for any kind of tablet, including an iPad.

  • 15:19 Techs Regain Some Ground as Apple Shares Dip

    Technology stocks tried to advance today, with the sector attempting to come back from the prior-day's losses. Gains came from Microsoft Corp., Google Inc., eBay Inc. and Micron Technology. Apple however trade 2% lower to $99.55 following reports that the new iPhone 6 may not make it onto Chinese retail shelves before the end of the year.

  • 14:17 Oil Jumps as Fed Meets, OPEC May Reduce Output in 2015

    Light, sweet crude advanced 0.9% to $93.691 a barrel as US Federal Reserve officials review their interest rates guidance and OPEC’s Secretary General said the group may cut output next year. Futures of Brent crude also increased. Fed policy makers are meeting today and tomorrow and the central bank’s Chairperson Janet Yellen is set to increase interest rates gradually between 2015 and 2017, according to a Bloomberg survey of economists.

  • 13:48 Apple Shares Slump as iPhone 6 May Miss Chinese Stores This Year

    Apple's shares slumped 2.6% to $98.86 per share in early trade today on reports that the new iPhone 6 may not hit stores in China this year. Chinese media cited a source close to the company as saying that Apple failed to reach an agreement with the country's Ministry of Industry and Information Technology this month, which might push back a deal until next year. Other reports indicated that Apple's near-field communication (NFC) technology will be exclusive to Apple Pay for at least one year, making the chip temporarily unavailable to developers for use in third-party apps.

  • 13:31 Tesla Prevails in US Court over Direct Sales Dispute

    Massachusetts' highest court yesterday dismissed a lawsuit seeking to block Tesla Motors Inc. from selling its luxury electric cars directly to consumers in the state. The decision enables Tesla to circumvent traditional dealerships.

  • 13:17 Global Stocks Retreat ahead of Fed’s Meeting

    Global shares declined today as investors refrained from placing strong bets before a meeting of the US Federal Reserve. Speculation that the Federal Reserve could raise interest rates sooner and faster than previously predicted has rattled stock markets around the globe and supported the US dollar.

  • 12:44 US Producer Prices Flat in August on Falling Gasoline and Food Costs

    Falling prices of gasoline and food kept US wholesale prices unchanged last month, another sign of receding inflationary pressure. It was the lowest reading in the producer price index since December, the Labour Department reported. Core wholesale prices excluding volatile categories including food, energy and trade rose 0.2%. Over 12 months, producer prices rose 1.8%, down from a recent peak of 2% in May. The news was released early by Reuters after a technical issue.

  • 12:31 UK Pledges State Funding to Scotland ahead of Independence Vote

    The British government promised to guarantee Scotland high levels of state funding and granted greater control over healthcare spending in a last attempt to shore up support for the United Kingdom before Thursday's referendum on independence. Latest polls showed the decision on the fate of the United Kingdom is too close to call. The GBP/USD pair fell to 1.6161, its lowest level since 25 November 2013.

  • 12:30 USA: Producer Price Index (PPI) y/y: 1.8%

    August PPI (Producer Price Index) is 1.8% on a yearly base, it was expected to be 1.8% versus 1.7% previously.

  • 12:30 USA: Producer Price Index (PPI) m/m: 0.0%

    August PPI (Producer Price Index) is 0.0% on a monthly base, it was expected to be 0.0% versus 0.1% previously.

  • 12:14 German Investor Sentiment Hurt by Ukraine and Scotland Woes

    German analyst and investor confidence declined in September to its lowest level since December 2012 in a sign that the Ukraine crisis is taking its toll on Europe's largest economy. ZEW's monthly survey of economic sentiment today fell for a 9th straight month to 6.9 from 8.6 in August. That was, however, better than the consensus forecast for a reading of 5 points. There was much concern about the consequences of the Scottish referendum to be held on Thursday, as the United Kingdom is Germany's third biggest export market.

  • 11:10 Ukrainian Parliament Passes Law Giving Special Status to Eastern Regions

    Ukraine’s parliament approved a law giving special status to the country’s two easternmost regions of Donetsk and Luhansk and rebels in those regions have been given an amnesty, under a new law adopted by Ukrainian parliament today. The amnesty doesn’t cover the shooting down of the MH17 plane. The European and Ukrainian parliaments have also voted to ratify a major EU-Ukraine association agreement today.

  • 10:34 French Government Faces Confidence Vote

    France’s Prime Minister Manuel Valls will try to persuade the National Assembly to back the country’s deeply unpopular government today, in a vote of confidence. In the meantime, opinion polls put President Francois Hollande's ratings as low as 13% with almost two-thirds of voters wanting his resignation. He also faces the return of ex-President Nicolas Sarkozy to politics. Mr Hollande will attempt to fight back on Thursday, facing the nation in a televised news conference.

  • 09:03 British Inflation Rate Dips in August

    The UK's inflation rate declined unexpectedly in August, suggesting the Bank of England will be in no hurry to raise interest rates even though the economy is expanding at a solid pace, official data showed today. The annual rate of inflation fell to 1.5% in August from 1.6% in July. That equals the rate seen in May, which marked the lowest level since October 2009.

  • 09:00 Germany: ZEW Current Situation: 25.4

    September ZEW (Zentrum für Europäische Wirtschaftsforschung) Current Situation index is 25.4 points, it was expected to be 40.0 points versus 44.3 points previously.

  • 09:00 Germany: ZEW Economic Sentiment: 6.9

    September ZEW (Zentrum für Europäische Wirtschaftsforschung) Economic Sentiment index is 6.9 points, it was expected to be 5.0 points versus 8.6 points previously.

  • 08:30 UK: Consumer Price Index (CPI) y/y: 1.5%

    August CPI (Consumer Price Index) is 1.5% on a yearly base, it was expected to be 1.5% versus 1.6% previously.

  • 08:30 UK: Consumer Price Index (CPI) m/m: 0.4%

    August CPI (Consumer Price Index) is 0.4% on a monthly base, it was expected to be 0.4% versus -0.3% previously.

  • 08:14 Ukraine Ceasefire Under More Strain

    Fighting broke out again in Ukraine's rebel-held city of Donetsk yesterday as President Petro Poroshenko prepared to unveil a risky plan to give the separatist-minded east "special status" in a bid to end a conflict that has killed over 3,000 people. The truce started on 5 September and had been broadly holding up before this weekend, despite sporadic violations. Russian President Vladimir Putin and German Chancellor Angela Merkel discussed the importance of maintaining the truce in Ukraine in a phone conversation on Monday, the Kremlin announced in a statement.

  • 08:05 Bank of Japan Will Act If Price Goal Threatened, Says Governor

    Bank of Japan Governor Haruhiko Kuroda today reiterated his commitment to adjust monetary policy "without hesitation" should risks threaten achievement of the bank's price target. "Japan's economy has been on a path suggesting that the price stability target of 2% will be achieved as expected," Kuroda said. "We are only halfway there, however, and the Bank will continue with quantitative and qualitative easing (QQE), as long as it is necessary for maintaining that target in a stable manner," he said.

  • 07:59 USD/RUB Hits New Historical High

    The USD/RUB pair today surged to an all-time high at 38.79 succumbing to rising pressure after the European Union and USA imposed new sanctions Friday aimed at the largest Russian corporations and the country’s oil sector.

  • 07:39 Chinese Stocks Erase This Year's Gains

    Hong Kong stocks retreated, with the Hang Seng China Enterprises Index erasing this year’s gains, after foreign direct investment in China declined, and ahead of the start of a Federal Reserve policy meeting. The main decliners in the Chinese index were telecoms such as China Unicom Ltd. and China Mobile Ltd. Shares of SoftBank Corp., an investor in Alibaba Group, gained in Tokyo after China’s largest e-commerce company raised the amount it’s seeking in its initial public offering.

  • 07:26 Wal-Mart Settles New York Dispute over Deceptive Coca-Cola Ads

    Wal-Mart Stores Inc. charged New York customers higher prices for Coca-Cola products than advertised during promotions this year. In one instance, store staff even lied to a customer who complained that the extra charge came from a “sugar tax,” the attorney general said. Under an agreement announced yesterday, the company will pay a $66,000 penalty and improve practices to avert over-charging.

  • 07:14 USA Starts New Phase in Fight Against Islamic State

    The US military yesterday said it conducted its first airstrike in Iraq as part of an expanded mission announced last week by President Barack Obama. The new phase of the campaign started with US planes striking a single fighting position set up by Islamic State militants southwest of Baghdad, officials said. The campaign would begin with stepped up strikes in Iraq, targeting a wider range of Islamic State militants.

  • 07:02 Lufthansa Pilots Cancel Today's Strike

    Pilots at Deutsche Lufthansa AG yesterday called off their plans to strike at Frankfurt airport today, citing changes to the airline's demands in a dispute over retirement benefits. The German carrier published details earlier Monday of its retirement package to the pilots union and the two parties will likely discuss it this week. Today's cancelled strike would have been the fourth one by the pilots at Lufthansa over the past weeks.

  • 06:53 Alibaba Raises IPO Price Range to $66-$68 on Stronger Demand

    Alibaba Group Holding Ltd. raised the price range on its initial public offering (IPO) to between $66 and $68 yesterday, reflecting strong demand from investors for the year's most anticipated debut and potentially the world's largest-ever IPO. Now the listing, which is on track to begin trading Friday, is expected to raise $25 billion.

  • 06:40 Gold Rises for Second Day Before Fed’s Meeting

    Gold extended gains from the lowest level since January as investors assessed the health of the US economy before the Federal Reserve begins a 2-day policy meeting today. Bullion for immediate delivery rose as much as 0.5% to $1,238.28 a troy ounce during the Asian session today. The metal’s 14-day relative-strength index held below the level of 30 for a third day yesterday, signalling that prices may be poised to rebound.

  • 06:32 Tesla’s Stock Plummets on Morgan Stanley Estimate

    Shares of Tesla Motors Inc. fell 9% to a closing price of $253.96 a share yesterday’s session after Morgan Stanley agreed with an assessment made 10 days ago by Tesla’s CEO Elon Musk that the company’s shares appear to be overpriced. Morgan Stanley has called Tesla “the world’s most important car company,” and said it stands by that estimate but it does not expect the company shares to “appreciate so consistently and one-directionally from here.” That was the worst one-day percentage drop for Tesla since the 11% drop posted in May.

  • 06:05 Today’s Key Economic Events

    • Today, at 8:30 GMT, the UK inflation data will be released. The Consumer Price Index is expected to rise 1.5% on a yearly basis in August from a 1.6% gain in the previous month. Usually higher inflation leads to an appreciation of the national currency.
    • At 9:00 GMT, the German Centre for European Economic Research (ZEW) will publish its latest Economic Sentiment report for Germany and the euro area. The median forecast is the index of German economic expectations to decrease to 5.0 points in September from 8.6 in the prior month. Usually the euro is very dynamic during the data release.
    • At 12:30 GMT, the US Producer Price Index (PPI) will be released. The producer prices are expected to remain unchanged In August from the previous month when they climbed 0.1%. A bigger pick-up in the PPI would support the US dollar.
    • At 16:30 GMT, the Bank of Canada's Governor Stephen Poloz will make a statement. Usually the Canadian dollar becomes more volatile during his speeches.