S&P falls to bear market over Greek fears October 4, 2011 US stocks have fallen steeply, sending the benchmark Standard & Poor’s 500 index sliding into bear market territory, as investors digested the eurozone decision to delay Greece’s the next tranche of aid. Fears over deepening problems in Europe’s financial system have contributed to equity losses and increased volatility in the past several months, leaving the [...]
Bernanke pledges help for weak recovery October 4, 2011 The Federal Reserve is prepared to take further steps to help an economic recovery that is “close to faltering”, Fed Chairman Ben Bernanke has said. Citing anaemic employment, depressed confidence and financial risks from Europe, Bernanke urged lawmakers not to cut spending too quickly in the short term even as they grapple with trimming the [...]
ANALYST VIEWS: WHAT CENTRAL BANK DECISIONS DO YOU EXPECT? October 2, 2011 LUIGI SPERANZA | BNP PARIBAS “Despite Eurozone inflation rising sharply from 2.5 per cent to 3 per cent we remain of the opinion that the ECB will act boldly in the meeting this week. We expect a 25 basis point rate cut, the announcement of a 12-month LTRO and possibly a new covered bond purchase [...]
I’m a priest who works in finance. Here is my take September 29, 2011 WHILE being interviewed during the Liberal Democrat Conference, the great pious voice of our collective conscious, also known as Vince Cable, solemnly stated that the reduction of the uncompetitive taxes on the “rich” would have to wait. His reasoning was that a reduction in tax on the lowest paid would result in greater overall spending. [...]
Disgraced Tevez picks a fight he’s got no chance of winning September 28, 2011 IN ALL MY years of being involved in football I’ve never seen anything that comes close to matching the stunt Carlos Tevez pulled on Tuesday night in Munich. Disgrace is the word that springs to mind and, although he has clearly been poorly advised during various stages of his career, I have no sympathy for him [...]
Finland gives its backing to EFSF extension September 28, 2011 THE FINNISH parliament yesterday backed extending the powers of the Eurozone bailout fund as members of the ruling coalition sought to keep the country on a pro-Europe course. Lawmakers comfortably supported the new powers for the European Financial Stability Facility (EFSF), with 103 in favour, 66 against and 30 absent from yesterday’s vote. The Finnish [...]
Villas-Boas maintains his love of Lampard September 27, 2011 VALENCIA vs CHELSEA CHELSEA manager Andre Villas-Boas has launched a passionate defence of Frank Lampard and hit out at suggestions the England stalwart is set for a reduced role at the club this season. The 33-year-old Lampard, who once set a record for consecutive Premier League appearances, has started three of Chelsea’s last four matches on [...]
Returns on US Treasuries set to pass 30 per cent this year September 26, 2011 RETURNS on US Treasuries have boomed in recent months, as investors have turned to long-term American debt. Hopes of political action over the Eurozone crisis saw Treasuries slip yesterday, yet 2011 as a whole is on course to be one the most successful ever years for bond-buyers. Despite losing around one and a half points [...]
US home sales fall to a six month low as activity dips September 26, 2011 NEW HOME sales fell to a six-month low in the US last month, according to figures released yesterday by the Commerce Department. The number of sales fell 2.3 per cent, from a seasonally adjusted 302,000 in July to 295,000 in August. That is the fourth consecutive monthly drop, leaving sales 6.6 per cent below April’s [...]
MARKETS NOT HAPPY WITH FED’S TWIST September 26, 2011 ANYONE hoping that last week’s FOMC statement would help to calm markets has been bitterly disappointed. On Wednesday, the US Federal Reserve announced that it plans to sell $400bn of short-term debt and buy $400bn of longer-dated Treasury bonds. This operation is designed to put a lid on longer-term interest rates while keeping the size [...]