WALL STREET WEEK AHEAD May 13, 2012 MORE volatility could be in store for US stocks this week as investors grapple with less certainty about the US economic outlook and a new blow to the financial sector after JP Morgan Chase’s trading loss. Europe is expected to keep investors jumpy as well, with inconclusive results from the recent Greek election and the [...]
BERNANKE: BANKING SYSTEM ON THE UP May 10, 2012 THE US banking system has made substantial progress toward becoming healthier since the financial crisis, Fed boss Ben Bernanke said yesterday. However, he warned there were still problems in some areas, noting “many factors suggest that this situation will be difficult to turn around quickly, including the slow recovery of the housing market.”
WHAT THE OTHER PAPERS SAY THIS MORNING May 9, 2012 FINANCIAL TIMES CRH to build on stake in China CRH blamed bad weather in Europe in the first quarter and volatility caused by the Eurozone debt crisis for reduced earnings in the first four months of the year in spite of a stronger recovery in the US market than expected. The Irish building materials group said [...]
FED COULD RAISE INTEREST RATES THIS YEAR May 9, 2012 RECENT improvements in the US economy should mean the Federal Reserve’s next policy move will be to raise interest rates, possibly by the end of the year, Minneapolis Fed president Narayana Kocherlakota said yesterday. “I would say in six to nine months we should begin to be thinking about initiating our exit strategy,” he explained.
RAPID RESPONSES May 9, 2012 Facebook’s trials [Re: Is Facebook’s estimated market value excessively high?, Tuesday] Facebook is often compared to Microsoft. They’re both hugely successful companies that tens of millions use, but which few really love (in contrast to Apple). Facebook has shown impressive growth in revenues and profitability, but to become a $100bn company it must face two [...]
Asian growth boosts profit at Deutsche Post May 8, 2012 Deutsche Post DHL said it was upbeat on the rest of the year yesterday after new contracts and demand for express delivery services in Asia helped it beat expectations for sales and profit in the first quarter. “There is still very healthy growth [in Asia] and we are profiting from that because we are still [...]
RAPID responses May 7, 2012 King looks coy [Re: Mervyn King should have hiked rates to deflate the bubble, Thursday] Mervyn King does seem self-contradictory when he describes growth before 2008 as a bust without a boom. But much of the financial bubble was “offshore,” outside the direct control of central banks. Specifically, much London banking involved transactions in dollars, [...]
Mervyn King should have hiked rates to deflate the bubble May 3, 2012 SIR Mervyn King, the governor of the Bank of England, is not one for mea culpas. His speech last night was an extraordinary defence of his record in office – and a largely unfair attack on his detractors, ignoring their intellectual arguments and questioning their motives. He did admit that he should have done more [...]
Cisse wonder goal halts Chelsea’s top-four bid May 2, 2012 Striker continues scoring streak to inspire Newcastle victory CHELSEA 0 vs NEWCASTLE 2 CHELSEA manager Roberto di Matteo admits his side’s hopes of qualifying for the Champions League hinge on winning the trophy after Newcastle, and Papiss Cisse’s goal of the season contender, tore their top-four hopes to ribbons. Red-hot Cisse’s extraordinary double, capped by [...]
Mervyn King should have hiked rates to deflate the bubble May 2, 2012 SIR Mervyn King, the governor of the Bank of England, is not one for mea culpas. His speech last night was an extraordinary defence of his record in office – and a largely unfair attack on his detractors, ignoring their intellectual arguments and questioning their motives. He did admit that he should have done more [...]