Crisis shows risk can’t be abolished July 27, 2011 IT is going to be a hot summer – and I’m not even talking about the weather. After a brief and irrational lull after last week’s pseudo-deal in the Eurozone, the global sovereign debt crisis is accelerating again, with the row over extending America’s debt ceiling becoming ever more farcical. Gold hit close to $1,630, [...]
WHAT THE OTHER PAPERS SAY THIS MORNING July 27, 2011 FINANCIAL TIMES INSURANCE COST AGAINST US DEFAULT HITS RECORD The cost of buying insurance against a default by the US rose to a record on Wednesday, in a sign of growing unease that gridlock in Washington over raising the federal debt ceiling may result in the Treasury failing to pay interest to bondholders. The market [...]
Osmond in bank interest July 27, 2011 HUGH Osmond, the entrepreneur behind Pizza Express, Punch Taverns and the insurance group Pearl, has emerged as a surprise potential bidder for Lloyds Banking Group’s 632 branches that are up for sale. Sources close to Osmond say that he has been in discussion with Lloyds since the end of last year and is hopeful of [...]
Boeing bounces on profit lift July 27, 2011 Defence and aerospace giant Boeing’s quarterly results beat expectations yesterday, with a 20 per cent jump in profit to $941m (£576m) and a six per cent rise in revenues to $16.5bn. The firm’s shares jumped 2.6 per cent on the news.
Visa reveals new US fee system July 27, 2011 Visa’s quarterly profit rose by 40 per cent, the world’s largest payment processor announced last night, adding that it would introduce a new fee structure for US merchants. Visa will introduce a network participation fee in the US for all of its debit, credit and prepaid card services.
UK court slaps down Lehman July 27, 2011 A subsidiary of fallen Wall Street bank Lehman Brothers lost its final battle to overturn a key UK ruling over a swap dispute with Australian creditors in a decision dubbed a “game changer” by lawyers. The UK’s supreme court unanimously upheld previous UK rulings that creditors should have priority in Lehman Brothers’ $2bn plus “Dante” [...]
London’s ready July 27, 2011 City could stage Games today, says Boris, as last venue is handed over MAYOR Boris Johnson joked London is already so well prepared for the 2012 Games that it should “call a snap Olympics tomorrow and catch the rest of the world napping”, after a day of celebrations to mark one year until the sporting [...]
Aquatics Centre wows first guests July 27, 2011 IT MAY have been the last venue to be finished, but the Aquatics Centre certainly appears to have been worth the wait. The £269m, 17,500-capacity wonder designed by leading architect Zaha Hadid was finally opened yesterday – and was an instant hit. Jacques Rogge, president of the International Olympic Committee called it “a masterpiece”, adding: [...]
TWEDDLE: I’M READY FOR HOME CROWD PRESSURE July 27, 2011 BRITISH gymnastics doyenne Beth Tweddle believes she will have a head start on many of her Olympic team-mates when it comes to handling the extra pressure next summer. The three-time world champion from Liverpool admits she is feeling the burden of an expectant home crowd, but plans to draw on her experience of recent competitions [...]
BERNARD: LET’s GET THIS PARTY STARTED July 27, 2011 BRITISH high jumper Martyn Bernard admits he’s finding it hard not to let his imagination run wild with the prospect of competing in the London Olympics suddenly a very real proposition. Bernard is yet to qualify for next summer’s Games and faces stiff competition to do so from the likes of Beijing silver medallist Germaine [...]
