McDermott maddened by offside goal as unlucky Royals suffer at hands of Chelsea August 22, 2012 CHELSEA 4 vs READING 2 CHELSEA manager Roberto Di Matteo brushed off a row over an offside Fernando Torres goal as his side came from behind to edge a wildly entertaining ding-dong with Premier League newcomers Reading. Goals from Pavel Pogrebnyak and Danny Guthrie stunned the European champions, after Frank Lampard’s penalty had put Chelsea [...]
Lacklustre data and fears over Greece hurt US August 22, 2012 THE S&P 500 erased earlier losses to close flat yesterday after minutes from the latest Federal Reserve meeting indicated the central bank might be ready for another round of stimulus. Minutes from the 31 July to 1 August meeting suggested the Fed is likely to deliver another round of monetary stimulus “fairly soon” unless the [...]
What the other papers say this morning August 21, 2012 FINANCIAL TIMES Generali set to exit US reinsurance Generali has become the latest European insurer to plan an exit from the US after Italy’s largest insurer by annual premiums put its US life reinsurance business up for sale, according to a person familiar with the matter. Citigroup is advising the company on a sale of [...]
China and Us data fail to corrode Qe speculation August 20, 2012 FX360 THE Dow and S&P 500 are both within spitting distance of the highs achieved earlier this year. It will only take a small push for both indices to surmount these heights. After that hurdle, the bulls will have their sights on the pre-financial crisis levels of 2007 – around 14,200 and 1,575 for the [...]
Market awaits public finance and GDP news August 19, 2012 HIGHLIGHTS for the economic week ahead will be tomorrow’s release of UK’s public finance data, followed by the revision of the second quarter’s GDP figures on Friday. While analysts fear there will only be a small surplus for the July finances figure – or possibly a loss – market watchers believe there will be some [...]
Wall Street is waiting for technical signals as doubt remains over rally August 19, 2012 IN the absence of data or policy catalysts and with the S&P 500 near four-year highs, market participants are hoping technical indicators hold the clues on whether stocks will sell off into September following a slow-speed rally. The S&P 500 is a scant 0.06 per cent away from closing at highs last seen in the [...]
Fed and FSA pushing new regulator to play by rules August 16, 2012 STANDARD Chartered’s treatment at the hands of the New York state Department for Financial Services (DFS) has shocked the more established authorities, which are in frantic negotiations with the new regulator to ensure it doesn’t strike out alone again. Regulators in the UK, US and Hong Kong are understood to be furious that they were [...]
New York manufacturing hit as overall US production expands August 15, 2012 NEW YORK manufacturers came in for a walloping during July, in a month where consumer prices edged up, and industrial production as a whole crept up, according to a tranche of data released yesterday by various US official bodies. The headline index for manufacturing in the Empire State collapsed 13 percentage points to -5.9, diving [...]
Stan Chart pays £217m to settle Iran claims August 14, 2012 STANDARD Chartered was last night forced to take a $340m (£217m) hit to settle US regulators’ charges that it broke sanctions against Iran and attempted to hide the evidence. The emerging markets banking group will also have to bring in a monitor to evaluate money-laundering risk controls in its New York branch, reporting back to [...]
US stocks dip on Japanese growth data August 13, 2012 US stocks ended slightly lower yesterday as fatigue set in after a six-day rally and disappointing Japanese growth data provided a fresh reminder of the headwinds facing the global economy. The benchmark S&P 500 index had risen three per cent over the prior six sessions, its longest rally since December 2010. But gains had slowed, [...]