Business

Bank of England set to offer clues on possible May rate hike

Bank of England set to offer clues on possible May rate hike

Data on Wednesday showed pay growth at its highest since 2015, which the BoE said bolstered policymakers' certainty that domestic cost pressures were building, hampering inflation's return to target. However, the fact there was a split vote does provide confidence for the next vote in May, which could see more members vote for a rate hike. Only a minority expected Saunders or McCafferty to vote for a rise.


Stocks plunge on trade tensions with China; Dow drops almost 3%

Stocks plunge on trade tensions with China; Dow drops almost 3%

Fear crept into USA markets on Thursday afternoon with the Dow Jones Industrial Average plunging 723.42 points (2.94%) while the S&P 500 fell 68.24 points (2.52%). Boeing dropped 5.2 percent, while shares of Caterpillar and 3M fell 5.7 percent and 4.7 percent, respectively. Bloomberg News cited China's ambassador to the United States saying that the country is "looking at all options" in response to tariffs, which could include scaling back purchases of U.S.


Winter Storm Warning issued for Roanoke, New River Valleys

Winter Storm Warning issued for Roanoke, New River Valleys

Virginia was hit with a nor'easter earlier in the week, seeing as little as 2 inches of snow in some areas and up to 11 inches in the city of Staunton. Prime travel conditions are anticipated from Thursday evening until 4 p.m. Friday during a window between the two systems. Pennsylvania's major utilities reported that slightly more than 1,200 customers were without service early Thursday.


'What's Facebook?' Elon Musk quips as he deletes Tesla, SpaceX pages

'What's Facebook?' Elon Musk quips as he deletes Tesla, SpaceX pages

Despite that lack of awareness, Musk did indeed have the page taken down, it seems. His sarcastic reply garnered attention from other Twitter users, who pointed out that Musk's companies all had Facebook pages. 'Also, we don't advertise or pay for endorsements, so ... don't care'. Musk had been busily tweeting away on Friday afternoon before it all went down.


Will a quarter point increase in US Fed rates impact India?

Will a quarter point increase in US Fed rates impact India?

The Fed, under Yellen, pursued gradual rate increases and a highly choreographed sell-off of the portfolio of bonds it bought to help prop up the economy after the 2008 financial crisis. Central bankers admitted to being befuddled by the absence of inflation past year despite the economic recovery and strong job market, but Wednesday's statement repeated the view that 12-month inflation is expected to move up to the Fed's two percent goal "over the medium term ".


Self-driving Uber 'had time to avoid crash with cyclist'

Self-driving Uber 'had time to avoid crash with cyclist'

The interior view shows that the human operator, who was inside the vehicle but not in control of the auto, was looking downwards and not on the road just moments before the collision took place. Autonomous cars used radar-based technology to detect pedestrians, motor vehicles, and any other obstruction on the road ahead. One question on regulators' minds will be why the sensors did not pick up on the presence of Herzberg, who would ostensibly have already crossed three lanes of traffic ...