The ending of empire

Two of the world's most powerful jobs are up for grabs - and America has the jitters.

Hint of US rate rise puts shares in a spin

SHARES IN New York and London went into a tailspin yesterday as the first signs emerged of higher inflation and interest rates in the United States.

Outlook: Wall Street

Outlook: Wall Street

Will the hi-tech bubble burst?

Are booming industries more vulnerable to a slow-down? The answer would seem to be yes

Fed set to `nip inflation in bud', warns Greenspan

ALAN GREENSPAN warned yesterday that the US Federal Reserve would act "promptly and forcefully" to nip inflation in the bud.

Outlook: Alan Greenspan

SINCE ALAN Greenspan first referred to "irrational exuberance" in December 1996, the Dow has risen by nearly 80 per cent. The Fed chairman had another go yesterday, politely suggesting the elevated level of share prices in the US was "unwarranted" and perhaps even "euphoric".

Greenspan hints at rates rise as US booms

ALAN GREENSPAN, the chairman of the US Federal Reserve Board, signalled that a further increase in US interest rates is likely with the economy expanding at an "unsustainable" pace. Increases in productivity had made 1999 an exceptional year for the American economy, he said, but the Fed stood ready to pre-empt inflationary pressures.

Right of Reply: Haruko Fukuda

RECENT WEEKS have seen much argument over the UK Government's decision to sell more than half of the country's gold stocks. Your editorial of 6 July introduced an interesting new twist in arguing that the substitution of paper money for gold is an example of democratisation. I disagree.

Outlook: Hubble bubble


US set for rates rise to head off inflation

THE US Federal Reserve is this week expected to raise interest rates, marking a watershed in US economic policy and reversing the downward trend of the last four years.

Dow falls below 10,500

US SHARE prices fell sharply yesterday as investors' nerves got the better of them ahead of next week's crucial meeting of the Federal Reserve.

Outlook: Stock markets

AT THE beginning of last month, this column advised a "sell in May and go away" stance on equities. Since then shares have fallen quite sharply on Wall Street and then rebounded again. This week's sensationally good inflation figures from the US seem to confirm that there is no stopping this long bull market. Once again the bears are made to look foolish. Even Alan Greenspan, chairman of the US Federal Reserve, now suggests no more than a gentle tug on the tiller - "modest pre emptive action" - is required to prevent a resurgence of inflationary pressures in the soaraway US economy.

Greenspan hints at pre-emptive rate rise

THE US Federal Reserve may need to raise interest rates before any sign that inflation is returning to the economy, Alan Greenspan said yesterday.

Dow and Nasdaq soar on stable US consumer prices

US FINANCIAL markets shot up yesterday after a report of flat inflation softened the outlook for monetary policy.

New technology `boosting US'

ALAN GREENSPAN, the US Federal Reserve chairman (pictured), said yesterday that business investment in new technology is boosting US productivity and keeping a rein on inflation. However, he cautioned that the benefits from technological developments might be short-lived.
Career Services

Day In a Page

Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
Sicily – seven nights from £939pp
Pompeii, Capri and the Bay of Naples - seven nights from £799pp
Istanbul Ephesus & Troy – six nights from £859pp
Mary Rose – two nights from £319pp
Middle East crisis: We know all too much about the cruelty of Isis – but all too little about who they are

We know all too much about the cruelty of Isis – but all too little about who they are

Now Obama has seen the next US reporter to be threatened with beheading, will he blink, asks Robert Fisk
Neanderthals lived alongside humans for centuries, latest study shows

Final resting place of our Neanderthal neighbours revealed

Bones dated to 40,000 years ago show species may have died out in Belgium species co-existed
Scottish independence: The new Scots who hold fate of the UK in their hands

The new Scots who hold fate of the UK in their hands

Scotland’s immigrants are as passionate about the future of their adopted nation as anyone else
Britain's ugliest buildings: Which monstrosities should be nominated for the Dead Prize?

Blight club: Britain's ugliest buildings

Following the architect Cameron Sinclair's introduction of the Dead Prize, an award for ugly buildings, John Rentoul reflects on some of the biggest blots on the UK landscape
eBay's enduring appeal: Online auction site is still the UK's most popular e-commerce retailer

eBay's enduring appeal

The online auction site is still the UK's most popular e-commerce site
Culture Minister Ed Vaizey: ‘lack of ethnic minority and black faces on TV is weird’

'Lack of ethnic minority and black faces on TV is weird'

Culture Minister Ed Vaizey calls for immediate action to address the problem
Artist Olafur Eliasson's latest large-scale works are inspired by the paintings of JMW Turner

Magic circles: Artist Olafur Eliasson

Eliasson's works will go alongside a new exhibition of JMW Turner at Tate Britain. He tells Jay Merrick why the paintings of his hero are ripe for reinvention
Josephine Dickinson: 'A cochlear implant helped me to discover a new world of sound'

Josephine Dickinson: 'How I discovered a new world of sound'

After going deaf as a child, musician and poet Josephine Dickinson made do with a hearing aid for five decades. Then she had a cochlear implant - and everything changed
Greggs Google fail: Was the bakery's response to its logo mishap a stroke of marketing genius?

Greggs gives lesson in crisis management

After a mishap with their logo, high street staple Greggs went viral this week. But, as Simon Usborne discovers, their social media response was anything but half baked
Matthew McConaughey has been singing the praises of bumbags (shame he doesn't know how to wear one)

Matthew McConaughey sings the praises of bumbags

Shame he doesn't know how to wear one. Harriet Walker explains the dos and don'ts of fanny packs
7 best quadcopters and drones

Flying fun: 7 best quadcopters and drones

From state of the art devices with stabilised cameras to mini gadgets that can soar around the home, we take some flying objects for a spin
Joey Barton: ‘I’ve been guilty of getting a bit irate’

Joey Barton: ‘I’ve been guilty of getting a bit irate’

The midfielder returned to the Premier League after two years last weekend. The controversial character had much to discuss after his first game back
Andy Murray: I quit while I’m ahead too often

Andy Murray: I quit while I’m ahead too often

British No 1 knows his consistency as well as his fitness needs working on as he prepares for the US Open after a ‘very, very up and down’ year
Ferguson: In the heartlands of America, a descent into madness

A descent into madness in America's heartlands

David Usborne arrived in Ferguson, Missouri to be greeted by a scene more redolent of Gaza and Afghanistan
BBC’s filming of raid at Sir Cliff’s home ‘may be result of corruption’

BBC faces corruption allegation over its Sir Cliff police raid coverage

Reporter’s relationship with police under scrutiny as DG is summoned by MPs to explain extensive live broadcast of swoop on singer’s home