The top four have no need to spend September 2, 2009 MARK HUGHES’ declaration that Manchester City have squeezed three years’ worth of dealing in two transfer windows fails to represent what has been a quieter-than-usual transfer window as far as the big clubs are concerned. City’s spending accounted for £120m of the £460m total of the Premier League total spending – and even that was [...]
Bendtner and Denilson net Gunners deals September 2, 2009 ARSENAL boss Arsene Wenger has again put his faith on his young brigade by handing 21-year-old pair Nicklas Bendtner and Denilson new long-term deals. Danish striker Bendtner scored 15 goals for the Gunners in all competitions last season, while Brazilian midfielder Denilson made more starts for the Gunners than any other player, 49 in all. [...]
SPORT IN BRIEF September 2, 2009 Strauss and Onions up for awardCRICKET: Talismanic England captain Andrew Strauss and seam bowler Graham Onions have been nominated for the International Cricket Council’s Cricketer of the Year award. The pair, who featured prominently in England’s Ashes success this summer, are among a 14-man list of nominees which includes Australia’s Mitchell Johnson, India captain Mahendra [...]
BORIS: I’M CITY’S NEW CHAMPION September 2, 2009 LONDON Mayor Boris Johnson yesterday took the fight to save the City to Brussels, where he lobbied EU officials over plans to crack down on hedge funds, private equity houses and the alternative investment sector. Johnson met with various MEPs and Charlie McCreevy, the EU’s internal markets commissioner, to highlight the problems contained within the [...]
UK to fight French in bonus row September 2, 2009 EUROPEAN Union finance ministers yesterday agreed to work together to regulate bankers’ pay – but the UK is set to fight plans to cap bonuses. In the run up to the G20 meetings, France and Germany have been drumming up support for the idea of bonus caps, including a targeted tax and a legal maximum [...]
WHAT THE OTHER PAPERS SAY THIS MORNING September 2, 2009 FINANCIAL TIMES OCH-ZIFF SET TO EARN PERFORMANCE FEES AGAINOch-Ziff, one of the largest hedge fund managers in the world, is set to start earning performance fees again across its $21.7bn (£13.3bn) of funds. The flagship Och-Ziff master fund is up 17.6 per cent this year, meaning it has almost completely recovered from losses incurred in [...]
FSAwill test Lloyds’ plans September 2, 2009 LLOYDS Banking Group’s ambitious plans to launch a giant cash call in a bid to reduce its reliance on the government are thought to have been passed to the City watchdog for stress testing. The Financial Services Authority (FSA) is understood to have been called in to stress test the plans, to judge whether Lloyds [...]
Why Boris is right to fight for the City September 2, 2009 WHENEVER there is a crisis, certain sections of the British establishment revert to type. Rather than vowing to fight back and rebuild our shattered economy, many senior figures have evidently decided that the best we can hope for is to manage decline, post-war style. In a dynamic, forward-looking, optimistic nation, we would be debating how [...]
Fed to keep policy loose September 2, 2009 A SLUGGISH recovery and continued risks to the economy saw the Federal Reserve hold rates at its August meeting, but said its $300bn (£184bn) Treasury purchase programme would end in October “in light of the evolving economic outlook and conditions in financial markets”. The minutes showed that “most participants saw the economy as likely to [...]
Cerberus locks up funds September 2, 2009 Cerberus has placed a three-year ban on withdrawals from new hedge funds in a bid to stop the type of large outflows that followed its purchases of Chrysler and GMAC. Hedge funds usually allow investors the chance to take money out every few months, but are now becoming more interested in longer-term investment structures.
