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Federal Reserve Chair Jerome Powell's recent speech at the Jackson Hole Symposium indicated a strong likelihood of interest rate cuts in September. With inflation easing and unemployment rising to 4.3%, markets anticipate a shift in monetary policy aimed at stimulating the economy. Investors are closely monitoring upcoming economic data for further insights.
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U.S. stock markets showed mixed results as the Dow reached a record high while the S&P 500 and Nasdaq declined. Investors are reacting to Federal Reserve Chair Jerome Powell's comments on potential interest rate cuts, with energy stocks rising due to increased crude oil prices amid geopolitical tensions.
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UK housebuilders are grappling with significant profit declines and reduced home completions amid rising interest rates and economic uncertainty. Barratt Developments reported a 75% drop in profits, while Vistry Group saw increased sales in affordable housing. The Labour government aims to build 1.5 million homes by 2029, necessitating a shift in industry attitudes.
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Burberry will be removed from the FTSE 100 index on September 23, 2024, after a significant decline in share price, dropping nearly 50% in six months. The luxury brand's struggles are attributed to a broader luxury market slump and challenges in the Chinese economy.
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Shares in Rightmove surged by up to 25% following news that Australia's REA Group, majority-owned by Rupert Murdoch's News Corp, is considering a takeover bid. The potential deal could be valued at around £4.4 billion, raising questions about the future of the UK's leading property portal.
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Square Health, a digital healthcare platform, has engaged HSBC to explore strategic options for raising growth capital. The company, which serves a significant portion of FTSE 100 firms, aims to expand its operations amid increasing demand for digital healthcare services.
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On September 19, 2024, global markets surged following the Federal Reserve's unexpected 0.5 percentage point interest rate cut. The FTSE 100 rose 0.91%, buoyed by mining stocks, while the S&P 500 also climbed, reflecting investor optimism about economic recovery. The Bank of England maintained its rates at 5%, contributing to a stronger pound.
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Visa is expected to announce its acquisition of UK-based fraud detection firm Featurespace for approximately £730 million next week. The deal follows ongoing discussions since August and comes amid a backdrop of significant private equity activity in the UK tech sector.