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Tag: falls

Inflation falls to lowest level in nearly two years

Inflation falls to lowest level in nearly two years

Business
The UK inflation rate fell to 2.1% in December, from 2.3% the previous month, according to the Office for National Statistics (ONS).The Consumer Prices Index (CPI) figure was the lowest in nearly two years, pushed down by petrol price falls.The inflation reading was in line with analysts' expectations.The figure is close to the Bank of England's target of 2% and may mean the Bank is less likely now to consider any rate rises in the near future.Inflation is being outstripped by average UK pay growth, with the most recent available figures showing that wages excluding bonuses were up by 3.3% for the three months to October 2018.Toys and hobbiesThe head of inflation at the ONS, Mike Hardie, said: "Inflation eased mainly due to a big fall in petrol, with oil ...
Mnuchin calls big US banks after huge stock market falls

Mnuchin calls big US banks after huge stock market falls

Business
US Treasury Secretary Steven Mnuchin has made calls to the heads of the country's six largest banks, in an unusual move aimed at reassuring investors after big falls in US stocks.Last week, US stocks suffered one of the worst weekly falls in a decade, as an interest rate rise and US-China trade tensions rattled markets.Mr Mnuchin said banks confirmed they had "ample liquidity" for operations. It also comes amid a partial government shutdown over spending plans."The [bank's chief executives] confirmed that they have ample liquidity available for lending to consumer, business markets, and all other market operations," the Treasury said in a statement attached to a tweet from Mr Mnuchin."[Mr Mnuchin] also confirmed that they have no...
Dow Jones falls 508 points amid interest rate hike concerns

Dow Jones falls 508 points amid interest rate hike concerns

Science
Dec. 17 (UPI) -- The Dow Jones Industrial Average fell more than 500 points Monday as stocks were down across the board amid concerns over rising interest rates. At the end of trading Monday, the Dow was down 507.53 points, or 2.11 percent, while the S&P 500 dropped fell 2.08 percent and the Nasdaq Composite dropped 2.27 percent, as all 30 stocks in the Dow and all 11 sectors in the S&P 500 were down, CNBC reported. Monday's losses brought the S&P 500 to its lowest close for the year at 2,545.94 points. Both the S&P 500 and the Dow are on pace for their worst December performances since the Great Depression, dripping more than 7 percent this month. A looming interest hike was cited as a factor in the widespread decline of the market, which appeared to be recovering from a tumultuous Octob...
Bitcoin falls below $5,000

Bitcoin falls below $5,000

Technology
The value of Bitcoin has fallen below $ 5,000 (£3,889) for the first time since October 2017.The fall brought the total value of all Bitcoin in existence to below $ 87bn.On Thursday, 15 November, Bitcoin Cash - an offshoot of Bitcoin - split into two different crypto-currencies, which are now in competition with each other.And some observers have blamed this for creating turmoil in the crypto-currency markets, with many of the digital assets experiencing falls.Bitcoin exchange Kraken said in a blog post that it regarded one of the two new Bitcoin Cash crypto-currencies - Bitcoin SV - as "an extremely risky investment".Bitcoin is a notoriously volatile crypto-currency.At its peak, in November 2017, it briefly hit $ 19,783 - ...
Trump doubles metal tariffs on Turkey as lira falls by 20%

Trump doubles metal tariffs on Turkey as lira falls by 20%

World
President Donald Trump has doubled US tariffs on Turkish steel and aluminium, as the precipitous fall of the Turkish lira accelerates. In a tweet, Mr Trump said the currency was weak against "our very strong dollar", adding that "US relations with Turkey are not good at this time". Turkish President Recep Tayyip Erdogan said in a speech that the drop was part of a "campaign" led by foreign powers.Turkey also warned it would retaliate against the US tariffs move."The United States should know that the only result that such sanctions and pressure will bring... will be harming our relationship as allies," the Turkish foreign ministry said in a statement.The two Nato members are at odds on a range of issues - how to fight the Islamic...