Ivanovic horror show leaves Blues facing shock cup exit January 9, 2013 CHELSEA 0 vs SWANSEA CITY 2 CHELSEA manager Rafael Benitez last night refused to blame defender Branislav Ivanovic after two catastrophic errors left the European champions on the brink of a shock Capital One Cup semi-final exit. Ivanovic’s dawdling in possession allowed Michu to put Swansea in front with his sixteenth goal of the season [...]
What the other papers say this morning January 8, 2013 FINANCIAL TIMES Telecoms discuss Europe network Europe’s top telecoms executives are discussing the creation of a pan-European infrastructure network to unite the continent’s fragmented national markets, following prompting from Brussels to consider more radical options. The idea of pooling telecoms infrastructure emerged at a private meeting between Joaquín Almunia, the EU’s competition chief, and bosses [...]
Banks hammered by $20bn mortgage bill January 7, 2013 US BANKS were hit with compensation payments and settlement costs of almost $20bn (£12.4bn) yesterday as regulators and the industry moved to end long-running rows over the toxic debt and aggressive repossessions of the credit crunch era. Ten banks will have to pay a total of $8.5bn in compensation and mortgage assistance to customers who [...]
The dynamics of QE have set the Bank of England on an unintended journey January 7, 2013 SINCE the financial crisis, the Bank of England has made use of some highly controversial monetary policy measures to help the UK economy recover. The most recent was the chancellor’s decision to claw back £35bn of the interest payments the Bank of England made from its holdings of government bonds. This took several economists by [...]
US adds 155,000 jobs last month January 4, 2013 The US added 155,000 jobs in December, with the unemployment rate steady at 7.8 per cent, official figures showed today. Employment increased in the healthcare, food services, construction and manufacturing sectors. The number of unemployed people in the US was broadly flat over the month, at 12.2m. On average last year, 153,000 jobs were added [...]
FTSE 100 slips as miners lead index down January 4, 2013 The blue chip index was broadly flat in early deals, as it failed to replicate its landmark day of trading on Wednesday. The FTSE 100 edged down by around 0.15 per cent this morning. Miners led the way down as worries that the US Fed might halt its monetary easing programme and concerns over US [...]
US fiscal cliff joy fades after Fed split on 2013 QE January 3, 2013 BUOYANT US traders were brought back down to earth yesterday after Federal Reserve minutes showed waning support for asset purchases in 2013, ending the euphoria felt by markets following Wednesday’s fiscal cliff deal. Meeting notes from the Federal Reserve monetary policy committee showed several of the 12 man group wanted to stop the Fed’s relentless [...]
Wall St slides after minutes from the Fed January 3, 2013 US stocks dipped yesterday after signs the Federal Reserve has growing concern about its highly stimulative monetary policy, giving investors reason to pull back after a two-day rally. The minutes from the Fed’s December policy meeting, released yesterday, showed increasing reticence about adding to the central bank’s $2.9 trillion balance sheet, which it expanded sharply [...]
FedEx profits fail to deliver December 19, 2012 FedEx’s profit fell 11.9 per cent in the second quarter, as the package delivery company struggled to improve results at its air freight business, it announced last night. The US-listed firm reported earnings of $438m (£269m). Disruptions relating to superstorm Sandy and falling consumer demand for pricey express postal services dented the results, though the [...]
Looking ahead to the 2013 markets December 17, 2012 IF WE have to go through 2013 in a similar vein to 2012, with a record number of Eurogroup, Ecofin, Euro summit, and FinMin meetings, my patience will be severely tested. It’s about time we moved on from over-analysing upcoming banking unions or aid packages. We need to return to a sense of normality, and [...]