Bernanke not richest on board September 6, 2012 Federal Reserve chairman Ben Bernanke may be wealthy according to the standards of most Americans, but the assets he held last year were valued well below those of some of his colleagues on the US central bank’s board. Bernanke’s assets were listed as being worth between $1.07m ( £672,000) and $2.28m, unchanged from the year [...]
Don’t blame developers: Britain’s planning system pushes up prices September 6, 2012 DURING recent planning rows, opponents of reform have argued that our lack of new homes was nothing to do with our 1940s planning system, but a case of greedy developers sitting on land with planning permission. Yesterday, the Local Government Association argued that the problem is big developers sitting on “land banks”. But big developers [...]
FedEx outlook stokes bearish US sentiment September 5, 2012 US stocks closed out a second straight session of thin trading yesterday, with investors reluctant to make big bets ahead of a crucial meeting of the European Central Bank, which could announce new policies to help contain the Eurozone’s debt crisis. Media reports that European policymakers would unveil a bond-buying plan to bring down crippling [...]
FedEx slashes profit forecast September 4, 2012 PACKAGE delivery giant FedEx last night cut its profit outlook for the current quarter, saying weakness in the global economy was hurting demand for overnight international shipments more than anticipated. The warning, which followed a similar move from rival UPS in July, sent the firm’s US-listed shares down 3.5 per cent in after-hours trading.
US markets await action in Eurozone September 4, 2012 THE S&P 500 and the Dow Jones industrial average closed slightly lower yesterday as investors continued to await clarity on European Central Bank plans to shore up heavily indebted countries, but the market ended off its lows on a rally in Apple shares. The Dow Jones was down 54.90 points, or 0.42 per cent, at [...]
Banks slash juniors’ pay September 3, 2012 INVESTMENT bankers’ pay tumbled further this year, with junior staff’s bonuses plunging on poor market conditions, a lack of competition in the sector and sustained pressure to avoid public outrage. Average bonuses fell 25 per cent on the year for analysts in the investment banks’ merger and acquisitions (M&A) units, following a fall of 10 [...]
Summer‘s Sun is fading as autumn‘s reality sets in September 3, 2012 THE US markets reopen today after a long holiday weekend. Yesterday’s Labor Day marked the end of summer in the US, and of course the first week in September is when the UK and Europe also gets back to work. Even our politicians return to Westminster, although perhaps it would be better for all of us [...]
Gold bugs should remain patient September 3, 2012 For months, it was as if the gold price only had eyes for the US Federal Reserve chairman Ben Bernanke. This perception was reinforced as the markets reacted to his speech at Jackson Hole last week, sending the yellow metal to five-month highs. In his speech, Bernanke stopped short of announcing another round of easing. [...]
Gunners recruits find feet as Rodgers rues Carroll absence September 2, 2012 LIVERPOOL (0) vs ARSENAL (2) ARSENAL manager Arsene Wenger hailed a colossal midfield performance from Abou Diaby after the Gunners plundered their first Premier League win of the season and turned up the heat on new Liverpool boss Brendan Rodgers. Summer signings Lukas Podolski and Santi Cazorla neatly teed each other up for a goal [...]
FTSE opens flat ahead of Jackson Hole speech August 31, 2012 The blue chip index opened modestly up this morning, as investors were cautious ahead of Fed chairman Ben Bernanke’s Jackson Hole speech later, where he is expected to signal more stimulus for the US economy. Rental equipment supplier Lavendon Group led the risers, up more than nine per cent in early deals. Investors were buoyed [...]