IMF warns banks still pose threat as currency war looms October 5, 2010 SOVEREIGN debt risk in Europe and continued real estate woes in the United States have dealt a setback to global financial stability in the past six months, the International Monetary Fund said yesterday. The IMF said risks to the financial sector could be reduced if legacy problem assets were cleaned up, if governments improved their [...]
Olly deserves a shot at the No1 job October 5, 2010 FORMER RYDER CUP CAPTAIN JOSE Maria Olazabal’s admission that he would relish the opportunity of leading the European team in Medinah in 2012 will have certainly come as a welcome boost for the Ryder Cup committee, who would surely have had him as frontrunner in any case. But this is by no means a closed [...]
Fears of double-dip ease on services rise October 5, 2010 British services activity growth rose unexpectedly in September from a 16-month low, but the outlook is poor with the weakest inflow of new business in over a year, a survey showed yesterday. The figures are unlikely to alter expectations that the Bank of England will keep its ultra-loose policy stance unchanged later this week and [...]
Bernanke says it’s too early to cut deficit despite growth October 5, 2010 FEDERAL Reserve chairman Ben Bernanke yesterday warned against taking immediate action to reduce the US deficit warning it could derail the nascent recovery. “Economic conditions provide little scope for reducing deficits significantly further over the next year or two,” Bernanke told an audience in Rhode Island. “Indeed, premature fiscal tightening could put the recovery at [...]
Eurostat may revise Greece’s 2009 deficit October 5, 2010 EU statistics agency Eurostat may revise upwards Greece’s 2009 budget deficit but this will not significantly impact this year’s fiscal gap, a senior official at Greece’s finance ministry said yesterday. “Even if there is a significant revision for 2009, the impact on the 2010 deficit will be very small,” the official, who did not want [...]
Pool stars Tancock and Halsall start English gold rush October 5, 2010 SWIMMERS Liam Tancock and Fran Halsall secured England’s first gold medals of the Commonwealth Games on a day of further success in the pool in Delhi. World champion Tancock won the men’s 50m backstroke after Halsall had upset the odds to snatch the women’s 50m butterfly. England’s Kate Haywood won bronze in the 50m breastroke, [...]
PETTIGREW CALLS ALL ABOARD FOR STEAM RIDE October 5, 2010 IT was all aboard at Tower Pier last night as City bigwig Jim Pettigrew added an unusual venture to his impressive CV, which includes stints at Marks and Spencer, CMC Markets, Icap and, in his current role, Aberdeen Investment Managers. Pettigrew played host as fellow City figures arrived to experience his latest venture: the relaunch [...]
Sportech in £51m deal for US bets firm October 5, 2010 FOOTBALL pools operator Sportech yesterday completed a £51.4m acquisition of US-based gaming group Scientific Games Racing (SRG) and said it was looking to further expand its presence in the country. SGR’s parent company, Scientific Games Corporation, now holds a 19.9 per cent stake in Sportech, under the terms of the deal. The acquisition will transform [...]
Central London homes hit as summer lull takes a toll October 5, 2010 HOUSE prices in central London fell for the first time in 18 months in the third quarter of the year, the property firm and chartered surveyor Cluttons said yesterday. Prices fell 0.2 per cent, reversing a 0.9 per cent increase in the previous quarter, as demand for property weakened and the number of properties offered [...]
FSA mortgage plans would have left 4m without loans October 5, 2010 NEARLY four million homeowners would have been denied a mortgage between 2005 and 2009 under affordability proposals put forward by the Financial Services Authority (FSA), the Council of Mortgage Lenders (CML) said yesterday. It said that amounted to over half of all loans during the period not being granted to potential borrowers, despite the fact [...]
