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 [...]
The Fed’s paper plane won’t fly: why the US economy is in need of more than a Twist September 22, 2011 THE markets were hoping for a helicopter drop from the US Federal Reserve this week, a reference to Ben Bernanke’s infamous 2002 speech on how to prevent deflation. What they got was more a paper plane, where the Fed will fly Treasury bonds from the short to the long end of the interest rate curve. [...]
Global markets hammered by US and China gloom September 22, 2011 The FTSE 100 plunged on opening today as a bleak view of the US economy from the Fed and fears over a slowdown in China – a key engine room in the global economy – took their toll. London tracked hefty falls on Wall Street and in Asia with the Hang Seng in Hong Kong [...]
FED ADDS AN EXTRA TWIST TO STIMULUS September 21, 2011 THE FEDERAL Reserve under Ben Bernanke (pictured)announced two new “twists” to its efforts to stimulate the ailing US economy last night, yet stopped short of declaring another phase of quantitative easing. “There are significant downside risks to the economic outlook, including strains in global financial markets,” the Fed said in a bid to justify its latest intervention. [...]
MPC moves closer to new round of QE September 21, 2011 MORE QUANTITATIVE easing (QE) is likely to be implemented “at some point” because of falling economic growth expectations, minutes of last week’s monetary policy committee (MPC) meeting, out yesterday, show. However, the US policy of selling short-maturity assets and replacing them with longer ones, cutting long-term interest rates, was ruled out. Only one of the nine [...]