SPORT | IN BRIEF September 12, 2010 US Open final postponed TENNIS: The US Open men’s singles final between Rafael Nadal and Novak Djokovic was declared a wash-out last night and postponed until today after heavy rain at Flushing Meadows. It is the third year in a row that the US Open final has been played on a Monday night with the match expected to [...]
US Beige Book shows growth rate is slowing September 8, 2010 THE US Federal Reserve released its snapshot of the economy yesterday, which showed “widespread signs” of slowing in recent weeks. The Fed said in its Beige Book survey of businesses that three of the 12 districts questioned said economic growth was mixed or slow. Seven districts away from the east cost reported modest growth between [...]
Wall Street closes up on light trading September 8, 2010 US stocks rose yesterday as investors latched onto positive news out of Europe in the latest in a string of low-volume sessions suggesting little confidence in market direction. Bank stocks recovered from Tuesday’s losses, with JPMorgan up 2.2 per cent and the BKW bank index up 1.7 per cent. A successful Portuguese debt offering as [...]
Commodities drive surge in food inflation September 7, 2010 FOOD price inflation surged to its highest level in more than a year as rising commodity prices fed through into the supermarkets, the British Retail Consortium (BRC) will say today. The BRC’s monthly shop price index shows that annual food inflation increased to 3.8 per cent in August from 2.5 per cent in July, the [...]
Fed should be prepared to embark on a new stimulus blitz, says ex-vice chair September 6, 2010 THE Federal Reserve should not announce a limit on its actions if it resumes purchases of Treasury securities to stimulate the US economy, the former vice chairman of the central bank said. Donald Kohn, who retired as vice chairman last week, told the New York Times in an interview published yesterday that the economy was [...]
Murray out after epic Wawrinka clash September 5, 2010 BRITAIN’S Andy Murray crashed out of the US Open last night after a dramatic third-round defeat to Switzerland’s Stanislas Wawrinka. Limping Murray twice needed medical attention at courtside before succumbing 6-7 (3-7), 7-6 (7-4), 6-3, 6-3 in an epic match that lasted three hours and 56 minutes. The Scot recovered from a shaky start to [...]
Imperious Fed looks Beck to his best September 2, 2010 FIVE-TIME champion Roger Federer continued his love affair with the US Open after cruising into the third round at Flushing Meadows. The Swiss second seed eased to a 6-3, 6-4, 6-3 victory over German Andreas Beck to earn a third round clash with either Paul-Henri Mathieu or Guillaume Rufin. Meanwhile, Russian sixth seed Nikolay Davydenko [...]
Fuld slams Fed for not saving Lehman September 1, 2010 THE FORMER chief executive of Lehman Brothers blamed the Federal Reserve for the collapse of the notorious Wall Street bank last night, arguing that the Fed withheld vital funds in the run-up to its downfall. Dick Fuld said the Fed helped other institutions such as AIG access liquidity but forced Lehman to instead file for [...]
Fed warns of sluggishness August 31, 2010 US POLICYMAKERS warned of increasing risks to economic growth in the minutes of the Federal Open Markets Committee (FOMC) meeting released yesterday. “The softer tone of incoming economic data suggested that the pace of the expansion would be slower over the near term than previously projected,” the minutes said. The Fed decided to reinvest the [...]
BORIS OUT FOR A RIDE WITH KELLY BROOK TO LAUNCH BIKE SCHEME August 31, 2010 Boris Johnson’s love affair with two wheels continued yesterday with the launch of his driver-frustrating Sky Ride scheme, where roads are cleared throughout central London to allow cyclists to take in the sights. But The Capitalist can’t help but think bikes weren’t the only thing on the mind of the red-blooded Mayor. Accompanying him on [...]