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  • Most Asian stock markets slip following Janet Yellen's comments on interest rates

    Most Asian stock markets slip following Janet Yellen's comments on interest ratesMost Asian stock market indices were trading lower on 29 August (Monday), but the Shanghai Composite was up 0.06% at 3,072.01 as of 5.08am GMT, following US Fed Janet Yellen's comments on Friday (26 August).


  • Fed could use reserves payments to stimulate U.S. economy - paper

    The Federal Reserve Building in WashingtonThe Federal Reserve could push banks to lend more by paying Wall Street smaller returns on money stashed at the U.S. central bank when inflation is low, according to an academic paper presented on Saturday. The proposal was one of several discussed at an international gathering of central bankers who are looking for ways to stimulate economies even after they have cut interest rates to near zero and flooded banks with money. In his paper, economist Ricardo Reis put forward a new way for the Fed to pay banks returns on the money they keep at the central bank, a tool that could potentially put the Fed's goal of keeping inflation at 2 percent on autopilot.


  • Jobs data to be a big deal for record-high stocks

    Job seekers fill out applications during 11th annual Skid Row Career Fair the Los Angeles Mission in Los AngelesWall Street will fixate on a wave of U.S. economic data next week, crested by payrolls data on Friday that could sway expectations about the timing of future interest rate hikes and spark volatility in record-high stock prices. Fresh data about employment and consumer confidence could help investors solidify expectations for a December interest rate hike from the U.S. Federal Reserve, or lend weight to a minority of strategists predicting a rate rise as early as next month. Fed Chair Janet Yellen said the case for a rate hike is strengthening, but she left open the timing of what would be the first increase since December 2015.


  • Caesars must face $11 billion in lawsuits: U.S. judge

    Las Vegas Strip casinos are seen from the 550 foot-tall (167.6 m) High Roller observation wheel, the tallest in the world, in Las VegasCaesars Entertainment Corp must face lawsuits from bondholders seeking some $11 billion in claims, a U.S. judge ruled on Friday in a decision the casino company had warned could plunge it into bankruptcy alongside its operating unit. Caesars Entertainment Operating Co (CEOC), which filed for Chapter 11 protection in January 2015, was asking for a third court shield from lawsuits against its parent to protect a multibillion-dollar contribution to its reorganization plan. The high-stakes CEOC bankruptcy has been plagued by a complex web of litigation pitting some of the most aggressive investors on Wall Street against each other.


  • Wall Street slips in wake of comments by top Fed officials

    Traders work on the floor of the New York Stock Exchange (NYSE) in New York CityU.S. stocks ended modestly lower after a volatile session on Friday, having bounced between gains and losses as investors wrestled with the likely timing of a U.S. interest rate hike following comments from top Federal Reserve officials. The S&P 500 rose after Fed Chair Janet Yellen said the case for raising rates had strengthened but did not indicate when the Fed would act. Yellen told a gathering of central bankers from around the world in Jackson Hole, Wyoming, the U.S. economy was nearing the central bank?s goals of maximum employment and price stability but that future hikes should be ?gradual?.


Quote of the Day

Kind words are the music of the world. F. W. Faber




Today's Word

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1. A man's tall, cylindrical hat. 2. An important or high-ranking person.



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