Daily Archive: March 9, 2017

Mar
09

Markets fall ahead of ECB decisions and Mario Draghi’s press conference – business live

All the day’s economic and financial news, including the European Central Bank’s latest decision on interest rates and its stimulus package

8.50am GMT

It’s two years since the European Central Bank took the plunge and started stimulating the eurozone economy with newly created money.

And just look how it’s grown….

Happy birthday #ECB’s QE program! PSPP launched 2 years ago today. I can’t believe how much you have grown. Just look at you today… pic.twitter.com/CLD1YQV1BG

8.41am GMT

European stock markets have opened in the red, as investors await news from the ECB at lunchtime.

8.25am GMT

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

The European Central Bank’s governing council may have a spring in its step today, as policymakers gather for their latest policy meeting in Frankfurt.

The market will be watching for any changes to the ECB’s language today, particularly whether it may drop its current bias toward lower interest rates which would likely be interpreted as a potential signal that the period of ultra-accommodative monetary policy is coming to an end, even if the ECB is still someway from signalling a readiness to raise rates. Our view is that the Governing Council will keep its forward guidance language as is for the time being pointing to the continued weakness of core inflation as justification.

Happy ECB day @50pips

What colour is your tie? ;-) pic.twitter.com/y7UYxuETsJ

BREAKING: Tory MP Anne-Marie Trevelyan says amendment needed to remove NIC rise from Budget. Rebellion on.

Everyone in the Neville household is sad at John Lewis banning press from bonus announcement tomorrow… pic.twitter.com/xzOK5fw46o

Continue reading…

Mar
09

The Conservatives promised change, but delivered more injustice | Aditya Chakrabortty

The party of entrepreneurs increases taxes on them. This budget’s contradictions will come to haunt Theresa May

Theresa May’s politics are at war with her very own policies. What she says is utterly undermined by what she actually does. No matter which way I look at Wednesday’s budget, that is the conclusion I end up at.

The prime minister vows “a change is gonna come”. Her chancellor delivers more of the same cuts. In No 10, they fret about “just-about-managing” families. In No 11, they make policies that, in their own budget analysis published yesterday, hit the just about managing harder than the rich. To Tory activists, May declares: “The government I lead will be driven not by the interests of the rich and powerful, but by the interests of ordinary, working-class people.” To Tory MPs, Philip Hammond boasts about the cuts he is making to corporation tax. Indeed, flick through the red book and the single biggest giveaway it lists is the two successive reductions to taxes on big businesses, worth £18bn over the next five years. Compare that to the £2bn he’s coughed up for care for elderly people.

Related: Will Theresa May’s ‘just about managing families’ fall for the rhetoric? | Sonia Sodha

Continue reading…

Mar
09

Scotland could hold independence vote in ‘autumn 2018′: Sturgeon

EDINBURGH (Reuters) – Scotland could hold an independence referendum in autumn 2018, just months before the United Kingdom is due to leave the European Union, Scottish First Minister Nicola Sturgeon said, the BBC reported.

Mar
09

Air strikes near Syria’s Raqqa city kill 14: Observatory

BEIRUT (Reuters) – Air strikes killed 14 civilians, including six children, on Thursday near Islamic State-held Raqqa city in northern Syria, the Syrian Observatory for Human Rights said.

Mar
09

Two Malaysians leave North Korea, leaving nine stranded

KUALA LUMPUR (Reuters) – Two Malaysian U.N. employees were allowed to leave North Korea on Thursday, a spokeswoman for the U.N.’s World Food Programme (WFP) said, while the Malaysian government negotiated for a travel ban to be lifted on nine citizens still stranded there.

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