Socceroos mull compensation claim September 17, 2013 FOOTBALL: The Australia Football Federation are considering whether to seek compensation from governing body Fifa if the 2022 World Cup is switched to winter. Australia spent £25.27m on a failed bid to host the tournament and are dismayed in could now be played away from its regular summer slot.
Britain braced for Davis Cup draw September 17, 2013 TENNIS: Unseeded Great Britain will learn the identity of their first Davis Cup world group opponents at a draw in London this morning. Britain, ranked 18th, returned to the elite group for the first time in five years at the weekend with victory over Croatia.
Coalition launches Lloyds shares sale September 16, 2013 THE RE-PRIVATISATION of Lloyds began last night, a major milestone in the UK’s economic recovery and an important step in unwinding the bailouts of the financial crisis. The government is selling a six per cent stake in the state-backed bank, in a deal worth around £3.3bn. Bankers and lawyers worked overnight to get institutional investors [...]
Barack Obama should make Donald Kohn the next Fed chief September 16, 2013 IT WAS pretty sickening, to say the least, to see so many investors cheer the prospect of even easier US monetary policy yesterday. The news that Larry Summers was pulling out of the race to be the next Fed chairman led to a boomlet across a slew of asset classes, bolstering emerging markets in particular. [...]
UK workers’ low savings sparking retirement crisis September 16, 2013 A FIFTH of Britons now suspect that they will never earn enough money to retire, more than in the US, Canada or Australia, according to a report released today by HSBC. With a squeeze in wages and inadequate savings for retirement, the UK performs poorly in terms of what people expect from life after work. [...]
What the other papers say this morning – 17 September 2013 September 16, 2013 FINANCIAL TIMES Record Saudi oil output in supply gap The trigger for the jump in Gulf production has been huge disruption to supplies from Libya, where striking workers and militias have reduced exports from about 1m b/d to merely a trickle. Saudi Arabia has responded by pushing output to 10.2m barrels a day in August, [...]
Barclays fights £50m fine over Qatari capital September 16, 2013 BARCLAYS is fighting a £50m fine from the City watchdog, which has accused the bank of behaving improperly when it raised capital from Qatar in the financial crisis. Barclays is also looking into consumer loans in which may have wrongly overcharged hundreds of thousands of customers. The Financial Conduct Authority (FCA) believes the bank acted [...]
Gunman dead after killing 12 in US rampage September 16, 2013 A GUNMAN who shot dead 12 before being killed himself at the US Navy Yard in Washington was last night named as Aaron Alexis, a former Navy reservist who was discharged for misconduct two years ago. At least 15 more people were injured during the rampage yesterday, which took place little more than a mile [...]
JP Morgan set for $750m Whale settlement bill September 16, 2013 JP MORGAN could face a $750m (£471.8m) bill to settle wranglings over the London Whale scandal that erupted last year, it was reported last night. The bank is known to be in discussions with US and UK regulators over the episode which saw a trader lose more than $6bn on enormous derivatives positions. Two staff [...]
Summers’ exit from Fed race helps stimulus-happy markets September 16, 2013 US MARKETS jumped yesterday on the hope of more easy money as Larry Summers dropped out of the race to become Federal Reserve governor. His exit leaves deputy chairman Janet Yellen as the bookies’ favourite for the role – a candidate investors see as more dovish, and so more likely to print money to support [...]
