Fed says rates could stay low April 6, 2010 THE Federal Reserve could keep interest rates ultra-low for even longer than investors expect if the economic outlook worsens or inflation drops, minutes from the central bank’s last meeting suggested. The minutes of the Fed’s March gathering showed lingering concern about the economy’s prospects, with policymakers indicating they were in no hurry to raise interest [...]
WHAT THE OTHER PAPERS SAY THIS MORNING April 6, 2010 FINANCIAL TIMES GAZPROM TO LAUNCH RUSSIA’S BIGGEST BOND ISSUE Gazprom will seek to raise Rbs300bn ($10.2bn) in Russia’s biggest bond issue programme to date, as the gas export monopoly tries to take advantage of a booming domestic bond market to restructure its debts and raise funds for upcoming investments. Gazprom said it had mandated Gazprombank, [...]
The truth about the budget deficit April 6, 2010 Bizarre – that is the only way to describe the government’s claim that Britain’s cripplingly high budget deficit is somehow at just the “right” level and that attempting to cut it at a faster rate would jeopardise the recovery. It is one of Gordon Brown’s central claims of the election campaign, yet it has no [...]
Delay for Rio BHP tie up April 6, 2010 AUSTRALIAN competition authorities have delayed approval of a joint venture between iron ore giants Rio Tinto and BHP Billiton until next month. The Australian Competition and Consumer Commission (ACCC) was expected to give the venture the go-ahead in February but then pushed the date to April. The latest delay is because the ACCC wants to [...]
Australia hikes interest rates April 6, 2010 Australia’s central bank raised its interest rate to a 14-month high of 4.25 per cent yesterday, flagging further moves ahead as the resource-rich nation rides a tide of Asian demand. The Reserve Bank of Australia hiked the rate by 25 basis points, its fifth increase in seven months. “With growth likely to be around trend [...]
Facebook bars staff share sales April 6, 2010 Facebook has banned employees from selling stock on the secondary market outside of specific trading windows as demand for the shares heats up. The social networking giant said the new rules were introduced to stop employees falling foul of US Securities and Exchange Commission mandates. A Facebook representative said the policy was designed to protect [...]
Race for RBS assets hots up as bids fly in April 6, 2010 THE main players in the battle to snap up 318 Royal Bank of Scotland branches have all tabled indicative bids, City A.M. has learned. Santander, Virgin Money and National Australia Bank, the owner of Clydesdale Bank, have all privately confirmed their interest in the state-owned assets. It is also thought Banco Bilbao Vizcaya Argentina (BBVA) [...]
HEDGE FUND BOSS KICKS UP A STINK FOR KIDS April 6, 2010 AS FAR as creative forays go, they don’t come much stranger – or more hilarious – than the latest venture set up by Eric Rosenfeld, a prominent New York investment manager who spends his days working as president and chief executive of Manhattan-based Crescendo Partners. The Capitalist chances upon a bizarre website launched by Rosenfeld [...]
Couple to face insider trading charges in court April 6, 2010 A COUPLE accused of a complex insider trading operation spanning almost a decade were released on bail today. Former Dresdner Kleinwort adviser Christian Littlewood, 36, who worked for Shore Capital at the time of the alleged illegal deals, stands accused of 13 counts of insider trading, along side his Singaporean wife Angie, 39. The couple, [...]
Verizon denies plans to merge with Vodafone April 6, 2010 SHARES in Vodafone slumped yesterday, after Verizon Communications’ top executive poured cold water on suggestions that the pair could merge. Asked about the benefits of merging with Vodafone – its partner in joint venture Verizon Wireless – chief executive Ivan Seidenberg said there would be few benefits to such a deal. “Absent of new information, a [...]
