Wall Street falls as investors lose faith October 27, 2010 US stocks fell yesterday as investors dialed back expectations of how aggressively the Fed would act to stimulate the economy. With the uncertain outcomes of the US elections and a Fed meeting next week, traders positioned themselves for more volatile markets. The CBOE Volatility index rose 2.4 per cent and was up for the third [...]
Henson signs for Saracens until summer October 27, 2010 SARACENS boss Brendan Venter admitted his relief last night after the club completed protracted negotiations to sign Wales back Gavin Henson from Ospreys, a move first reported by City A.M. Henson, who has not played competitively for more than 18 months, will officially join the Premiership club today having agreed a contract that runs until [...]
Barclays weighs up costs of quitting UK October 27, 2010 SENIOR executives at Barclays Bank are weighing up the costs of moving the group’s headquarters from London to overseas, most probably New York. The bank’s executives, including at board level, have spent a great deal of time poring over the issue over the past few weeks. While no final decision has been taken, they have [...]
Tensions rise on EU treaty… October 27, 2010 THE EU was yesterday struggling to ensure Franco-German tensions did not threaten a major summit deal Member states were trying to thrash out changes to the EU treaty to strengthen the bloc’s budget rules to avert new sovereign debt crises. EU leaders are expected to approve proposals by a task force of finance ministers to [...]
England captain Moody: Injured eye may never fully recover October 27, 2010 ENGLAND captain Lewis Moody admits he may never see properly again, following the eye socket injury that has jeopardised his involvement in next week’s first autumn international against New Zealand. Moody was temporarily blinded in one eye after suffering the gruesome damage playing for Bath against Gloucester earlier this month. He has not played since [...]
Time running out to halt City exodus October 27, 2010 IMAGINE the scene. It’s late 2011; Bob Diamond, Barclays’ boss, is posing with New York’s Mayor Michael Bloomberg in front of the firm’s New York headquarters. Bloomberg is boasting to the local media about how much he expects his city to make in extra tax receipts from Barclays’ relocation, which has just been completed. Meanwhile, [...]
…as UK loses budget battle October 27, 2010 DAVID Cameron is preparing himself for an embarrassing defeat in his attempt to freeze the EU budget ahead of today’s council of European leaders. At Prime Minister’s Questions yesterday, Cameron promised to fight for a freeze or even a cut in the EU’s 2011 budget. However, after a series of telephone conversations with other European [...]
Bluecrest to close $630m fund October 27, 2010 Bluecrest Capital, one of Europe’s biggest hedge fund companies, said yesterday it would close a $630m (£400m) EU-regulated fund, dealing a blow to the recent boom in onshore hedge fund portfolios. The company will close the Bluetrend Ucits fund, a computer-driven fund that latches onto market trends, because of its inability to replicate sufficiently the [...]
Credit Suisse joins risk fund October 27, 2010 Credit Suisse will raise $800m (£510m) for a new fund aimed at helping banks reduce the amount of capital they must hold under new global banking rules. The Christofferson Robb & Company (CRC) fund will help banks transfer risk, accroding to the Financial Times. Demand for such funds is thought to be high. A letter [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 27, 2010 FINANCIAL TIMES SOUTH AFRICA STILL A DRAG ON ANGLO AMERICAN Anglo American, the mining company, is finding it hard to escape its South African roots despite its efforts to become a cosmopolitan corporate citizen. An array of risks in South Africa, the source of 41 per cent of operating profits last year, is having an [...]
