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Bridging The Gap
US raises growth estimate for the last quarter of 2015 US raises growth estimate for the last quarter of 2015
The US economy grew at a faster pace than previously thought in the fourth quarter of 2015, according to the latest official figures. The US economy grew at an annualised pace of 1% in the quarter, compared with an initial estimate of 0.7%. Most economists had taken a more pessimistic view, expecting the figure would be revised downwards. But businesses bought more stock than previously e...
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Saudi oil minister: Cuts 'will not happen' Saudi oil minister: Cuts 'will not happen'
The Saudi oil minister on Tuesday ruled out the prospect of production cuts by the Organization of the Petroleum Exporting Countries, saying that a production freeze is a more realistic possibility. Ali bin Ibrahim Al-Naimi, minister of petroleum and mineral resources for Saudi Arabia, told conference-goers at 35th annual IHS Energy CeraWeek event in Houston that ongoing efforts to keep product...
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IEA warns consumers of spike in oil prices IEA warns consumers of spike in oil prices
The International Energy Agency (IEA) is warning consumers not to let cheap oil lull them into a false sense of security amid forecasts of a price spike by 2021. In a report, the IEA said it expects prices to start recovering in 2017. But it forecasts that will be followed by a sharp jump in price as supply shrinks following under-investment by struggling producers. Brent crude touched a ...
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Dow futures fall 100 points as oil slide weighs Dow futures fall 100 points as oil slide weighs
U.S. stock index futures indicated a lower open on Friday as low oil prices weighed. U.S. crude oil futures for March delivery traded 3.5 percent lower below $30 a barrel as of 8:57 a.m. ET. Dow futures were off by about 100 points. Traders also eyed CPI which showed a 0.3 percent rise ex-food and energy in January. The headline figure was unchanged from the previous month. Year-over-year, t...
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Asia drives demand for international schools Asia drives demand for international schools
Another top boarding school in England is setting up a school in China, travelling the path taken by schools such as Harrow, Dulwich College, Malvern and Wellington. But when Wycombe Abbey, a girls' boarding school in Buckinghamshire, opens its doors in China in September, it will be not be launching a replica. Wycombe Abbey International in Changzhou near Shanghai will be co-educational, an...
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Why OPEC deal may not increase oil prices Why OPEC deal may not increase oil prices
Gleaning insight into the direction of the Organization of the Petroleum Exporting Countries is a favored parlor game of the oil markets, as evidenced by three separate incidents recently in which oil prices spiked on hopes of a production cut. But faith in OPECís ability to prop up oil prices may prove fleeting, as the global energy markets weigh the possibility of an OPEC production deal agai...
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Gold surges to one-year high Gold surges to one-year high
LONDON: Gold surged nearly 4 per cent on Thursday to its highest in a year as fears about financial instability, a lower dollar and US Treasury yields persuaded investors to seek refuge in the precious metal. Traders said financial instability fears were fuelled by European bank shares slumping to multi-year lows, with concerns mounting over banksí profitability in a low-growth and low-interest...
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Janet Yellen: Market turmoil and dollar could hurt economy Janet Yellen: Market turmoil and dollar could hurt economy
Federal Reserve Chair Janet Yellen sees warning signs ahead for the U.S. economy. Testifying before members of the U.S. Congress on Wednesday, Yellen acknowledged that see sees several risks to U.S. economic growth -- borrowing costs are rising, stock prices have declined a lot so far this year and the dollar continues to strengthen against its global counterparts. "These developments, if th...
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LinkedIn loses $10B in market cap; cloud stocks hit hard LinkedIn loses $10B in market cap; cloud stocks hit hard
Investors can't disconnect from LinkedIn stock fast enough. Shares of the professional social network (LNKD) plunged 42% in midday trading Friday to $112.02, leading an overall slide in technology stocks along with declines among cloud computing companies. LinkedIn shed $10 billion in value, the biggest one-day drop for the company since it went public. If LinkedIn's decline holds at Friday...
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Ford to cut jobs to save $200m in Europe Ford to cut jobs to save $200m in Europe
US car giant Ford has announced plans to cut jobs and save $200m (£138m) a year in Europe. The carmaker said it was launching a voluntary redundancy programme and improving manufacturing efficiencies. It also said it would focus on its most profitable models, such as sports utility vehicles (SUVs). Ford Europe returned to profit for the first time in four years in 2015, as the parent grou...
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