Next what path will be taken as the unemployment picture becomes clearer, and finally what tools are left in the arsenal to ensure all this extra cash trickles its way through the real economy.With this backdrop, and the spectre of a presidential election on the horizon and the ramifications that emerge from it, the Fed could have a tricky balancing act to play to kickstart the economy back into life.Fed Committed To Using Full Range Of Tools To Support US Economy"Following sharp declines, economic activity and employment have picked up somewhat in recent months but remain well below their levels at the beginning of the year," US central bank policymakers said in a statement issued at the end of their latest two-day meeting, which was held by videoconference.It says US economic recovery depends on stopping the coronavirus.The Dow Jones and the S&P 500 are both around half a percent higher while the tech-heavy Nasdaq is up just over 1pc.Supervisor Link Fund Solutions said the Equity Income Fund held £58m in cash at 22 July.This is expected to increase as the fund receives payments for the portfolio of shares healthcare companies sold for £224m to Acacia Research last month.Most of the fund’s assets have now been sold with only a small proportion of hard-to-sell investments remaining. The response to the global financial crisis is one blueprint that could provide a template for how to react. The pair agreed to transfer the money to Big Win Philanthropy, a charity set up by Ms Cooper after their record-breaking divorce, in return for her resigning as a trustee of CIFF. Today the CEOs of Google, Apple, Amazon and Facebook face an unprecedented joint hearing in Washington as their firms face growing concerns about their size and power…First half pre-tax profits were halved to £41m and management fees dropped to £161m, nearly 12pc lower than the same period last year.Andrew Formica, Jupiter’s chief executive, said the past six months had been tough for the whole industry.He said: “Although we suffered a significant fall in AUM due to both outflows and markets in the first quarter of the year, the second quarter has seen a return to moderate inflows and a partial recovery in asset prices.”Jupiter now has £39.2bn of assets under management compared to £45.9bn a year ago.The figures do not include Merian Global Investors, which became part of Jupiter on 1 July following a £390m swoop. Shares in Shopify rose 10pc in early trading in New York. It added Covid-19 is expected to accelerate a shift to digitalisation, saying its order pipeline remains solid.The connections for the “final third” of homes in far flung areas come as part of BT’s £12bn plan to connect 20 million premises to fibre optic cables over the next decade.The agreement to build in these areas, which comes at a greater cost than in urban areas, comes as Ofcom is expected to remove a pricing cap on parts of Openreach’s copper network. Without the charge, however, its profits shot up to £5bn for the half-year following another bumper quarter in its trading business that will boost chief executive Jes Staley in his battle against activist investor Ed Bramson, who has called for cuts in its prized investment bank. The Fed's new approach could be viewed as a flexible form of average inflation targeting, allowing inflation to run moderately above or below the Fed’s 2% target for some time. This rate is set high enough to attract buyers, but below IOR. The firm enjoyed inflows of £1.3bn and reported pre-tax profits of £27m, up from £20m in the first half of 2019.Meanwhile, Perpetual Income and Growth Investment Trust (PIGIT) announced it has found a new investment manager after firing Mark Barnett in April.Invesco and Mr Barnett, the former protégé of fallen stock picker Neil Woodford, were dismissed after a run of poor performance.PIGIT announced that it will merge with Murray Income Trust to create an investment trust with more than £1bn under management.The combined entity will be managed by Charles Luke at Aberdeen Standard Investments, who is Murray Income Trust’s current manager. Reference TEForecast
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