Norway’s trillion-dollar national oil fund modestly undershot its benchmark for the first time in two years in the second quarter, with equities dragged down by global tensions over trade and bond investments muted, despite a flicker of volatility stemming from Italy.
The body representing National Health Service hospitals and ambulances has written to NHS England to warn that a hard Brexit or no-deal scenario could adversely affect “the entire supply chain of pharmaceuticals” in the UK and hit “disease control.”
Persimmon, the UK’s second largest housebuilder, has posted a 13 per cent rise in profits for the first half of 2018 as the government’s Help-to-Buy scheme and low interest rates continue to support to demand for its houses.
Australia’s central bank reiterated that it had no plans to adjust monetary policy in the near term in its August monetary policy meeting minutes released on Tuesday and pointed to potential risks from global trade tensions and the impact of a drought that has hit rural Australia.
The dollar continued to fall while the euro and yen firmed on Tuesday after Donald Trump’s criticised the Federal Reserve overnight and as expectations mellowed ahead of trade talks between US and China later this week.
Credit Suisse has become the first bank to issue debt tied to the new US interest rate chosen to replace the London Interbank Offered Rate (Libor), selling a $100m six-month certificate of deposit on Monday.
US President Donald Trump has told Reuters that he was “not thrilled” with Federal Reserve chairman Jay Powell’s decision to raise interest rates, in the latest criticism lobbed by the president against the central bank.
Merrill Lynch, the broker-dealer and investment advisory subsidiary of Bank of America, has agreed to pay $8.9 million to settle Securities and Exchange Commission claims that it failed to disclose a conflict of interest when making decisions on products managed by an outside advisory firm.
The US government has approved the latest sale of crude oil from its Strategic Petroleum Reserve, a move allowed under recent statutes that will inject additional supplies into the world market as Washington tightens screws on Iran.
The US economy is performing well and is no longer in need of the stimulus that propped it up in the wake of the financial crisis, according to one of the members of the Federal Reserve’s rate-setting committee.