Federal reserve was split over decision to delay interest rate hike

Minutes from the meeting in which Fed voted to leave its rate unchanged showed some argued for ‘caution’ while others expressed concern over wait

Federal Reserve policymakers were split at their last meeting over how to respond to a slowing global economy, with two officials supporting a rate hike in March even as an opposing group felt that even raising rates in April would be too soon.

Minutes of the Fed’s 15-16 March meeting released Wednesday showed that several participants argued for “proceeding cautiously” with future rate hikes because of global risks such as weaker growth in China. This group said that even raising rates in April “would signal a sense of urgency they did not think appropriate”.

Related: Fed officials hint at interest rate hikes but Janet Yellen urges caution

Continue reading…

Pfizer’s merger collapse prompts speculation it will seek new takeover

$160bn tie-up with Allergan, which would have been world’s biggest pharmaceutical deal, scuppered by US tax crackdown

Barack Obama’s derailment of Pfizer’s $160bn (£114bn) merger with Allergan sparked immediate speculation on Wednesday that the US drugs company would turn its attention to another big pharmaceutical takeover.

Pfizer, best known for Viagra and its cholesterol pill Lipitor, will pay the Botox producer Allergan $150m for pulling out of what would have been the world’s biggest healthcare deal, first announced in November and now abandoned after the US Treasury Department stunned financial markets with measures to clamp down on tax efficient mergers and takeovers.

Continue reading…

IMF calls for labour market reform to boost jobs

Reforms include higher public spending to help the jobless find work, cutting benefits to encourage the jobless to take low-paid work and cutting taxes

The protracted weakness of the global economy has highlighted the need for lower taxes on employment and higher public spending to get the unemployed back into work, the International Monetary Fund has said.

Expressing concern about sluggish growth in the west since the 2008-09 downturn, the Washington-based IMF said it was time for ultra-low interest rates and quantitative easing to be accompanied by a range of structural reforms.

Continue reading…

Panama – The Coming Crash of Capitalism

Watching the alarming scene of global capitalism today is akin to seeing a vehicle hurtling at full speed towards a wall and while shouting and screaming on the sidelines the pilot remains oblivious and keeps pushing on the accelerator. You know it is going to crash as you watch in […]

UK’s Small Online Businesses Failing To Sell Overseas, Despite Demand For British Goods, Study Shows

Only half of the UK’s small online businesses are selling to customers abroad despite high customer demand for British goods, new research from PayPal has shown.

The survey, conducted by Ipsos MORI on behalf of PayPal, questioned more than 1,200 small and medium-sized businesses in major online retail markets – including the UK, the US, France, Germany, Italy and Spain – to find out about their international sales strategies. The results show that just 56% of UK small online businesses have capitalised on international sales, compared to 64% in France and 61% in Spain.

Big Data-Driven Decision-Making At Domino’s Pizza

Domino’s is the world’s largest pizza delivery chain with over 10,000 outlets serving up millions of pizzas each year. Pizza delivery might not seem, on first glance, the most high-tech of industries. But Domino’s has consistently pushed its brand onto new and developing tech, and as such it is now […]