London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
CIT Group’s bounce-back accelerates October 26, 2010 CIT GROUP, the US commercial lender that last year emerged from bankruptcy, reported a forecast-beating quarterly profit yesterday, and revised upwards its profit for the first half of the year after an accounting review. The bailed-out US lender said net income for the third quarter was $131.5m (£83m), taking the total income for the nine [...]
A vintage performer relives a year when he made £7m in just one day October 26, 2010 AS THE wine is poured, Greg Dyke winces slightly: “just a little for me”. That’s nothing to do with the wine, which is one of the world’s best – a 1991 Penfolds Grange – but Dyke, whose stint as Director-General of the BBC ended in controversy in 2004 when he resigned on the publication of [...]
Weak bank figures send FTSE lower October 26, 2010 WEAK banks helped drive Britain’s top share index to a lower close yesterday, with sentiment hit by a loss at UBS’s investment bank and as investors locked in profits after sharp gains over the last two months. The FTSE 100 closed 44.68 points, or 0.8 per cent, lower at 5,707.30, its biggest one-day percentage drop [...]
US stocks firm ahead of elections October 26, 2010 US stocks were little changed yesterday as investors held steady under a raft of earnings in anticipation of next week’s US elections and likely announcement of a new economic stimulus programme from the Federal Reserve. The broader equities market edged lower after weak revenue forecasts from drugmaker Bristol-Myers Squibb and chip manufacturer Texas Instruments. Bristol-Myers [...]
It is about time for the dollar to reverse course October 26, 2010 THE US dollar has been the market’s whipping boy for some time now. For the last three months, the world’s reserve currency has persistently fallen against other currencies and most commodities, in a pattern described by one analyst as “everything up/dollar down”. With yields on dollar-denominated assets lower than ever before, lots of traders are [...]
A BETTER WAY TO PLAY THE POUND RALLY October 26, 2010 DIRECTOR OF CURRENCY RESEARCH, GFT YESTERDAY’S UK GDP data must have impressed even the most ardent cable bulls after it came in at twice the market consensus, increasing to 0.8 per cent versus 0.4 per cent expected. Growth was strong across the board and overall, the third quarter GDP grew at 2.8 per cent on [...]
Little steps of growth should keep QE at bay October 26, 2010 THE UK economy had a good day yesterday. GDP data came in at double what the market was expecting and the rating agency Standard & Poor’s said we no longer face the risk of a downgrade. The good news got instant reactions for sterling, gaining one per cent against the euro and a cent and [...]
FOREX ANALYST PICKS October 26, 2010 FOREX STRATEGIST JOEL KRUGER My pick: Buy dollar-yen at ¥79.50 Expertise: Classic technical analysis Average time frame of trades: 1 month-12 months This market has been under intense pressure over the past few months, with the price dropping relentlessly to multi-year lows and now quickly closing in on a retest of the record lows from [...]
THE TIPSTER October 26, 2010 THE Australian dollar-US dollar is still tentatively trading below parity. As one of the few advanced economies to avoid a recession, the Australian economy should benefit from high demand for raw materials, especially from China. Bulls expect the Aussie to break through to parity soon, so it may be a trade for the optimistic. Capital [...]
Credit where it’s due: a choice asset class in a low growth environment October 26, 2010 CREDIT is tipped to become one of the hottest asset classes of the next decade as the world struggles to achieve little more than mediocre economic growth and deals with the throbbing hangover of the financial crisis. Fund managers are increasingly optimistic about the long-term outlook for credit and see a wealth of opportunities in [...]
