HAWAIIAN SHIRTS SET THE AGENDA FOR FEDERAL RESERVE COMEDIANS January 15, 2012 THE SUB-PRIME mortgage meltdown was rumbling ever-louder in the background, but the 2006 meetings of the Federal Reserve were still a laugh a minute. The transcripts of that year’s meetings of the policy-setting Federal Open Market Committee were released at the end of last week after a standard five-year delay. But for readers who didn’t [...]
UP THE SWANNY January 15, 2012 SWANSEA (3) vs ARSENAL (2) Arsenal boss Wenger accuses Dyer of diving for penalty after defeat to Swansea in five-goal thriller deals his side’s hopes of catching Spurs and Chelsea a major blow FURIOUS Arsenal manager Arsene Wenger last night accused Swansea winger Nathan Dyer of diving to win a key penalty, after his side [...]
US regulator in favour of Volcker rule January 11, 2012 US REGULATORS came a step closer to implementing the Dodd-Frank rules on banking yesterday, after laying out a fresh draft of the Volcker rule and giving more protection to collateral in swaps deals. The Volcker rule, under the Dodd-Frank Act, prevents banks that hold customer deposits from proprietary trading, on the basis that it could [...]
Fed reports improved growth January 11, 2012 The Fed’s Beige Book last night confirmed improving economic conditions in the US. Most districts reported “more favourable conditions than identified in reports from the late spring through early fall”.
San Fran Fed wants fiscal boost January 10, 2012 Tax and spending policies must be changed to boost the US economy, John Williams, president of the San Francisco Fed, said yesterday. Moves to control the budget deficit “are essential in the long run” but are “damping the economy, not boosting it” currently, he said. Williams praised the steps the Fed has taken to loosen [...]
Murray fourth seed in Aussie Open January 9, 2012 TENNIS: Britain’s Andy Murray has been seeded fourth for the 2012 Australian Open which begins on Monday. Meanwhile, Great Britain have been drawn in the same group as the Netherlands, Israel and Portugal for Judy Murray’s first tie as Fed Cup captain.
Swissie scandal engulfs governor January 4, 2012 SWISS National Bank governor Philipp Hildebrand will today break his silence on controversial currency trades made by his wife. Hildebrand has come under increasing pressure to clarify events, after details of foreign exchange transactions made from his personal accounts at Swiss private bank Sarasin were leaked by one of its employees to lawyers for the [...]
Fed says it will publish interest rate projections January 3, 2012 THE FEDERAL Reserve will from this month onwards publish quarterly projections of future interest rates, in a move widely seen as a further attempt to stimulate the economy. The policy change “could provide an opportunity for a back door policy easing in January”, said Harm Bandholz of UniCredit last night. “If for example most participants [...]
CITY MOVES | WHO’S SWITCHING JOBS January 3, 2012 Avanti Communications Group Paul Walsh, chief executive of Diageo, has joined the board of satellite data company Avanti Communications as a non-executive director. He is also a non-executive director of FedEx Corporation and Unilever. Prior to joining Diageo, Walsh held financial and commercial positions with InterContinental Hotels and in the GrandMet food business, becoming CEO [...]
US markets begin the year on a high January 3, 2012 STOCKS and the euro started the year with a sharp rally yesterday, boosted by better-than-expected global data and hopes the Fed could ease monetary policy further, even as crude surged on tensions between the US and Iran. A number of Federal Reserve officials believed economic conditions could “well” warrant a further easing of monetary policy, [...]