Here comes the regulatory tidal wave June 15, 2009 WE are about to enter the third stage of governments’ response to the credit crunch: first there was the firefighting, then the so-called stimulus packages and now comes the regulatory crackdown. There has to date been much pontificating but very little actual reform of the rules governing the global financial system. Banks have been nationalised [...]
Metals lose their shine and oil slips on the strong dollar June 15, 2009 LOWER commodities stocks and the firm dollar took the FTSE 100 lower yesterday, losing 2.6 per cent, or 115.94 points, to close at 4,326.01. Volumes were about 76 per cent of its 90-day average daily volume, but the index has risen 25 percent since hitting a six-year low on 9 March. “The fundamentals of the [...]
Obama to overhaul regulation June 15, 2009 PRESIDENT Barack Obama will tomorrow outline the most sweeping overhaul of US financial regulation since the Great Depression, in an attempt to prevent a repeat of last year’s financial crisis. Treasury secretary Timothy Geithner and White House economic adviser Lawrence Summers yesterday said the administration plans to create a “council of regulators” to coordinate supervision across [...]
HORLICK BID SET TO TURN HOSTILE June 15, 2009 CITY superwoman Nicola Horlick has vowed not to give up her quest to take over Bramdean Alternatives, the listed fund she manages, after its board pulled out of talks yesterday. Her refusal to back down could pave the way for the first instance in corporate history that a fund manager launches a hostile bid for [...]
O’Callaghan handed his June 15, 2009 COACH Ian McGeechan insists his British Lions squad have reached the “business end” of their South African tour as they prepare for the first Test against the world champions on Saturday. McGeechan has long maintained his final selection for the Durban clash will not be decided until after tonight’s tour match with the Southern Kings [...]
Washed-out England swept away by Windies and rain June 15, 2009 ENGLAND captain Paul Collingwood blamed the rain after seeing his side dumped out of the World Twenty20 in a nail-biting five-wicket loss to the West Indies. The hosts made 161-6 from their 20 overs but an evening downpour at The Oval saw the Windies set a revised target of 80 from nine overs, under the [...]
Brawn expects F1 to continue June 15, 2009 FORMULA ONE: Team owner Ross Brawn says he is certain his team will be competing in Formula One next year, despite the row over budget caps between teams’ association FOTA and governing body the FIA. “I’m completely confident of competing, and you have to plan on that,” he said.
Khan title bout postponed June 15, 2009 BOXING: Amir Khan has been made to wait a further three weeks for a world title shot after his scheduled bout with Andreas Kotelnik, on 27 June, was postponed yesterday so the Ukrainian can recover from a tooth infection. The fight will now take place on 18 July at the MEN Arena, Manchester, as London’s [...]
Murray vows to keep focus June 15, 2009 TENNIS: British No1 Andy Murray insists he will not get carried away by the euphoria surrounding his victory at Queen’s and has vowed to keep his focus for the start of Wimbledon on Monday. “I think I can win it, but I am going to focus on the very first match,” the Scot said yesterday. [...]
Hero Richards on target as Pearce dodges upset June 15, 2009 ENGLAND U21 (2) vs. FINLAND U21 (1) A BULLET header from Manchester City defender Micah Richards got 10-man England off to a winning start at the European Under-21 Championship in Sweden. Middlesbrough midfielder Lee Cattermole’s deflected shot put Stuart Pearce’s men in front against the run of play in the tournament opener in Halmstad. But England’s fortunes deteriorated [...]
