Darling’s report: good in parts but flawed overall July 8, 2009 THERE will be no return to business as usual, not by any stretch of the imagination. But yesterday’s Treasury white paper also confirms that financial capitalism as we know it is here to stay. The authorities want to reform global finance to make it work better and to try and avoid extreme booms and busts; [...]
SUMMER SALES July 8, 2009 Barca sanction Ribery swoopBARCELONA have given boss Pep Guardiola the green light to sign winger Franck Ribery should he want him. The Frenchman has been linked with a move to Real Madrid all summer, although the big-spending Spanish giants have given up hope of signing the £60m-rated Bayern Munich star. Chelsea remain in the race, [...]
US names PPIP fund managers July 8, 2009 BLACKROCK and Invesco are among nine fund managers named yesterday by the US Treasury to run the public-private partnerships (PPIP) that could buy up as much as $40bn (£25bn) of toxic securities from banks. The Treasury plans to invest up to $30bn into the programme, which will be smaller than the Obama administration initially envisaged [...]
Liebherr is the Saints saviour July 8, 2009 SOUTHAMPTON have been saved from the brink of extinction after Swiss businessman Markus Liebherr announced the completion of his takeover of the League One club yesterday. The 61-year-old has an estimated fortune of £2.5bn and paid an undisclosed fee for the club. Liebherr owns and controls the Swiss-based Mali Group, which consists of five companies [...]
IMF hikes its growth forecasts July 8, 2009 THE global economy is starting to pull out of the worst recession since the Second World War but, with the recovery expected to be sluggish, policies need to remain supportive, the International Monetary Fund (IMF) said yesterday. The IMF updated its world economic outlook, revising upwards its economic growth forecast. A 1.4 per cent contraction [...]
EVOLUTION NOT REVOLUTION July 8, 2009 CHANCELLOR Alistair Darling yesterday unveiled a white paper on financial regulation that will reform the way banks operate while retaining all the major aspects of the global financial system. Darling’s proposals, while costly and onerous to the City, will mean that giant global financial institutions are here to stay, most activities will continue to be [...]
Wilkinson freed up for England return July 8, 2009 JONNY WILKINSON has been cleared to join up with his England team-mates next month by his club Toulon. Wilkinson, 30, was recalled to England’s elite 32-man squad on Tuesday for the forthcoming autumn internationals. Coach Martin Johnson feared a backlash, however, as Wilkinson was ordered to meet up with the squad on August 9-14 – clashing with [...]
United swoop for France U21 star Obertan July 8, 2009 FRANCE Under-21 winger Gabriel Obertan has vowed to seize his chance after completing a surprise move to Premier League champions Manchester United. Obertan, 20, yesterday sealed his switch from French title winners Bordeaux by signing a deal that will keep him at Old Trafford until 2013. United have not disclosed the fee, with reports in [...]
Chelsea dismiss claims of keeping Terry in the dark July 8, 2009 CHELSEA last night angrily hit back at claims they haven’t contacted captain John Terry over Manchester City’s interest in him. Reports suggested Chelsea had kept Terry in the dark over a £30m bid received last week while the England captain was away on holiday. “It is total nonsense, we’ve spoken to him a number of [...]
Arsenal keep Usmanov at arm’s length by rejecting proposal for rights issue July 8, 2009 ARSENAL’S second largest shareholder Alisher Usmanov last night responded frostily after the Premier League club rejected his proposal of a rights issue. Gunners chief executive Ivan Gazidis said yesterday that the board had discussed the fund-raising exercise but concluded it would not greatly improve their financial position. Usmanov, who owns a 25 per cent stake [...]
