US new home sales fall to six-month low September 26, 2011 New single-family home sales in the US fell to a six-month low in August in a sign the crippled housing market will not provide much support for the flagging economy any time soon. The US Commerce Department said sales slipped 2.3 per cent to a seasonally adjusted 295,000-unit annual rate. The reading was in line [...]
Global markets dragged down by Eurozone crisis September 26, 2011 Gains by banks were outweighed by heavy losses among miners in early trading today as Eurozone bailout fears and bleak forecasts on world economic growth cast a shadow over markets. After last week’s rollercoaster ride, volatility looked set to continue as Eurozone leaders conceded that they would have to pump in trillions to have an [...]
Volatile trading and uncertainty are set to persist September 25, 2011 AFTER another roller-coaster week, which was the second-worst of the year for the FTSE 100, the only really safe call this morning is for the volatility to rumble on. Despite repeated international assurances that action will be taken to preserve financial stability and restore economic growth, the markets start another week without anything definite on [...]
WALL STREET WEEK AHEAD September 25, 2011 EARNINGS forecasts for US companies are starting to feel the pain on Wall Street and in the broader economy as the odds of another recession rise. Intense fear that global debt issues and stagnant growth cannot be resolved has pummelled market confidence in the past couple of months. Earnings have been one of the market’s [...]
Haas enjoys bumper $10m payday September 25, 2011 America’s Bill Haas claimed the season-ending Tour Championship along with the with FedExCup honors and a $10m bonus after a thrilling sudden-death play-off against compatriot Hunter Mahan. The pair finished the 72 regulation holes on eight-under-par 272, while British world No1 Luke Donald birdied three of the last five holes for a 69 to finish [...]
Tindall grilling prompts fed-up Johnson to round on press pack September 22, 2011 IRATE England manager Martin Johnson stepped in to swat away questions about Mike Tindall’s private life yesterday when the vice-captain faced the media ahead of tomorrow’s World Cup match with Romania. Tindall answered one question relating to his much-publicised visit to a Queenstown bar, and the tabloid storm that has subsequently stalked the squad, in [...]
Bloodbath: Equities and commodities plunge on fears over global recovery September 22, 2011 A FRANTIC sell-off saw stock markets tumble yesterday while commodities collapsed, as spooked investors retreated from mounting signs of global economic weakness. The world economy is “in a danger zone”, World Bank chief Robert Zoellick said yesterday, while International Monetary Fund (IMF) boss Christine Lagarde again said that the path to recovery is “narrowing”. At [...]
FedEx pares outlook despite rise in profit September 22, 2011 FEDEX, the world’s second biggest package delivery company, last night reported a higher quarterly profit that slightly beat forecasts but pared its outlook for the full year, citing fuel prices and moderate global economic growth. Analysts had expected the company to lower its earnings guidance based on a tepid domestic economy and slower international trade [...]
FTSE suffers 5pc losses on Fed woe September 22, 2011 A TOXIC cocktail comprising a grim economic outlook from the US Federal Reserve and downbeat data in China left Britain’s top shares nursing a near five per cent drop yesterday, as investors pinned some hopes on this week’s G20 meeting. Commodity stocks, sensitive to data showing a stuttering recovery, were the biggest fallers by some [...]
Dire day of selling sinks US equities September 22, 2011 US stocks plunged yesterday, extending a selloff to four days, as policymakers’ failure to arrest global economic stagnation sent markets spiraling downward. The heavy volume of last night’s plunge signaled investors are selling in anticipation of more losses. Wall Street’s “fear gauge”, the CBOE Volatility Index, jumped 12 per cent, giving the index its biggest [...]