Bank of England sticks with rate cut signal despite Brexit bounce
LONDON The Bank of England said on Thursday it was still likely to cut interest rates to just above zero later this year, even though the initial Brexit hit to Britain's economy was proving less severe than it expected only last month.The Bank's nine rate-setters voted unanimously to keep Bank Rate at its new record low of 0.25 percent, the lowest level in the BoE's 322-year history.They also voted 9-0 to keep the Bank's bond-buying program target at 435 billion pounds and to continue with its..>> view originalBuffett's Berkshire to Shrug Off Recent Headaches With Wells, Ponzi Allegations
Warren Buffet has been silent, but his holding company is dealing with a lawsuit against one of its units, while Wells Fargo, one of its largest holdings, is under scrutiny. Valerie Young. Follow. Sep 15, 2016 6:39 AM EDT. Get TheStreet Quant Ratings' ...>> view originalBayer Beware: Germany Has a History of Bungled Overseas Deals
After months of talks, Bayer AG finally pulled off the biggest foreign acquisition in the history of corporate Germany with the $66 billion takeover of Monsanto Co. Now, the hard work begins to make the combination a success.Bayer-Monsanto follows agrichemical deals between Dow Chemical Co. and DuPont, as well as ChemChina-Syngenta AG. Completion of the merger would leave three companies with more than 75 percent of the global market, according to data compiled by Bloomberg -- a level of concen..>> view originalEveryone is still using their Galaxy Note 7 as Samsung fumbles its global recall
Nearly two weeks after Samsung recalled the Galaxy Note 7 due to the risk of explosion, the device is still being used just as frequently by its owners. This is according to data from Apteligent, a mobile analytics company that claims "usage rate of the phone among existing users has been almost the exact same since the day of the recall." It seems not even exploding batteries can tear users away from their smartphones, but the apparent reticence of users to get rid of their faulty devices is n..>> view originalGlobal stocks struggle for footing after bond slip
LONDON World stocks steadied at two-month lows on Thursday though bond markets stayed firmly in the red, as eight years on from the collapse of Lehman Brothers two of Europe's top central banks prepared to keep their interest rates pointing down.Europe's main stock markets in London .FTSE, Frankfurt .GDAXI and Paris .FCHI dipped in and out of positive territory as the region struggled to pull out of a five-day losing streak.Primarily it has been caused by nagging concerns that having resorted ..>> view originalUK Approves Hinkley Point Nuclear Project With EDF
Updated Sept. 15, 2016 8:00 a.m. ET LONDON—The U.K. government on Thursday said it approved the building of a controversial nuclear power station, the country’s first in a generation, after it had frustrated investors in China and France by delaying a decision. The move by Britain’s new prime minister, Theresa May, in July to postpone a decision on the £18 billion ($23.8 billion) project at Hinkley Point, in southern England, had raised questions about whether she would take a ..>> view originalChinese Tycoon Behind Grindr Will Pay $1.14 Billion in Divorce
BEIJING — Divorce can take a toll. For the Chinese tycoon behind the gay dating app Grindr, that toll comes to $1.14 billion.Zhou Yahui, a Chinese internet mogul and billionaire, will have to transfer nearly 300 million shares of his company to his wife, Li Qiong, according to a statement from the company. The document does not say why, but China’s news media is widely abuzz with articles saying the two are getting a divorce.That apparent split is the latest to show how divorces can have a sign..>> view originalSitting in limbo: Decision to leave EU brings UK uncertainty
EU Commission President Jean-Claude Juncker, left, walks past Nigel Farage, ex-leader of the British UKIP party and member of the European Parliament, after delivering his State of the Union address at the European Parliament in Strasbourg, eastern France, Wednesday, Sept. 14, 2016. EU Commission President Jean-Claude Juncker said in his State of the European Union address to the European parliament that the EU "still does not have enough Union."(AP Photo/Jean-Francois Badia..>> view originalPolitical Paralysis Is the Biggest Threat to U.S. Competitiveness
The U.S. political system is America’s “single biggest barrier to competitiveness,” according to an annual study by Harvard Business School.“Many Americans are keenly aware that the system is broken, but are unsure why it is broken or how to fix it,” says the new study, released late Wednesday [pdf]. It finds that the U.S. is in “an era of political paralysis” and says “the federal government has made no meaningful progress on the critical policy steps to restore U.S. competitiveness in the las..>> view originalMark Zuckerberg Sold $285 Million In Facebook Stock In Past Month For Charity
Monday, September 19, 2016
Bank of England sticks with rate cut signal despite Brexit bounce and other top stories.
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