Captain Chris has to be of interest at a massive 14/1 March 14, 2012 THERE have only been seven runnings of the Ryanair Chase and sponsor Michael O’Leary won’t be happy that no horse from his native Ireland has won this yet. They arguably have their strongest hand this time with last year’s Jewson winner NOBLE PRINCE and the third home in this race 12 months ago, Rubi Light. [...]
Big Buck’s set for real test in pursuit of fourth crown March 14, 2012 THERE won’t be a dry eye in the house if the unbelievable Big Buck’s can become the first horse ever to land the World Hurdle for four consecutive years. If he does win, it will be his sixteenth victory on the bounce and he’ll equal Sir Ken’s record that has stood since the 1950s. So, [...]
Departing Goldman banker slams “rip-off” culture March 14, 2012 A Goldman Sachs banker has launched a withering attack on the bank in a newspaper column announcing his resignation, saying that several managing directors at the Wall Street firm had referred to their own clients as “muppets”. In an opinion column for Wednesday’s New York Times, Greg Smith, who worked in equity derivatives, said Goldman [...]
Cathay Pacific profits plummet March 14, 2012 Cathay Pacific Airways, Asia’s fourth largest airline, posted a bigger-than-expected 61 per cent drop in 2011 net profit today, amid high fuel costs and a slowing global economy, and warned of a more challenging year ahead. The firm reported an annual net profit of HK$5.5bn, down from a record high of HK$14.05bn in 2010 which [...]
Britain considers issuing 100-year government bonds March 14, 2012 Britain could start selling 100-year and perpetual bonds, Treasury sources said on Tuesday, as ministers seek to lock in current low market interest rates to reduce the future costs of servicing the government’s debt burden. The Debt Management Office will launch a consultation alongside next week’s budget to gauge the appetite for super-long bonds of [...]
UK unemployment rises by 28,000 March 14, 2012 UK unemployment rose by 28,000 to 2.67m in the three months between November and January, meaning that 8.4 per cent of the economically active population are without a job, figures from the Office of National Statistics show. Meanwhile youth unemployment rate rose to a record high of 1.042m in the three months to January, taking [...]
WALL STREET PASSES CRUCIAL STRESS TEST March 14, 2012 But Fed says Citigroup, Ally, MetLife and SunTrust are barred from joining in dividend bonanza THE FEDERAL Reserve paved the way for a multi-billion dollar dividend bonanza last night by passing 15 banks in its latest stress tests, allowing them to return cash to shareholders. The US central bank said most of the largest American [...]
Angry banks hit out at Fed March 14, 2012 THE THREE US banks and an insurer that failed Federal Reserve stress tests last night signalled the start of a battle with the regulator. MetLife, the largest life insurer in the US, led the criticism after it was denied permission for a $2bn (£1.27bn) share buyback and a 49 per cent increase in its annual [...]
WHAT THE OTHER PAPERS SAY THIS MORNING March 14, 2012 FINANCIAL TIMES CAR LOANS SPEED UP AT CLOSE BROTHERS Close Brothers has reported strong growth at its banking arm in the six months to 31 January, but profits were held back by its securities and asset management divisions. Profits at the banking division have grown since the start of the financial crisis, as it expanded [...]
Dow hits a four-year high March 14, 2012 NEWS of the stress test results helped send the Dow Jones industrial average to its highest level since 2007 yesterday, with a late spark coming from JP Morgan and its dividend announcement. And the Nikkei opened above 10,000 this morning to hit a seven-month high on the back of the strong performance in US markets. [...]
