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, [...]
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. [...]
Tests looked at fraud, lawsuits and meltdown March 14, 2012 THE FEDERAL Reserve’s stress test results, released two days ahead of schedule yesterday, put banks’ balance sheets through a projected financial meltdown over a two and a quarter year period. The Fed said the 19 banks taking part would lose a total of $534bn under the worst-case scenario, including loan losses, market shock as well [...]
JP Morgan sparks a US divi bonanza March 14, 2012 SHARES in JP Morgan Chase soared last night after it became the first bank to say it would boost its dividend after passing the Federal Reserve’s stress tests. The bank’s stock closed up more than seven per cent at $43.39, making it the highest riser on the Dow Jones, after it said it would raise [...]
Deutsche to cull 1,000 jobs in its investment bank March 14, 2012 DEUTSCHE Bank is plotting an overhaul of its corporate and investment bank that could see up to 1,000 jobs slashed, City A.M. has learned. The cuts, which will not affect Germany, come in addition to the 500 announced last October. That number sparked surprise at the time because it was significantly less than rivals. But [...]
EU rules loom as Prudential eyes UK exit March 14, 2012 INSURANCE giant Prudential has said its future lies in Asia, underlining fears that the firm will relocate from London to Hong Kong if tough new rules for insurers based in Europe are implemented. Speaking to reporters as he announced a seven per cent increase in worldwide operating profit to £2.07bn, chief executive Tidjane Thiam added [...]
