Monty: Ryder Cup choice ‘impossible’ August 24, 2010 EUROPEAN Ryder Cup captain Colin Montgomerie has compared his selection dilemma with Fabio Capello’s headache over whether to take Theo Walcott to the World Cup. England football team boss Capello caused a stir by dropping Arsenal winger Walcott from his final 23 for South Africa earlier this year. But Montgomerie believes he faces an even [...]
Bank lending to individuals stays weak August 24, 2010 MORTGAGE lending dropped to a five-month low in July with just 33,700 home loans approved, taking the annual percentage decline to 18.5 per cent, the British Bankers’ Association (BBA) said yesterday. Tighter lending conditions combined with subdued demand for home loans pushed mortgage approvals down last month. This is despite recent calls for the banks, [...]
Fed loses bank disclosure appeal August 23, 2010 The Federal Reserve will have to appeal to the Supreme Court if it wants to avoid having to disclose details of its emergency lending programmes to banks bailed out with taxpayer money during the financial crisis. The US Court of Appeals denied the Fed’s motion on Friday to rehear the case in which Bloomberg, the [...]
TRADERS SEX UP THE DULL WORLD OF FOREX August 23, 2010 THE THINGS that bored traders get up to when they get a minute, eh? The Capitalist chances upon an, err, enterprising website set up by a pair of forex traders, who claim to have cracked the conundrum of how to dispense a barrage of information to their peers while simultaneously holding their interest – by [...]
Fed’s Hoenig: Reform to hit smaller banks August 23, 2010 KANSAS City Federal Reserve Bank President Thomas Hoenig warned yesterday that landmark financial reforms may not end market perceptions that taxpayers will rescue the largest banks and cautioned against speculative investments in housing. Hoenig, testifying at a field hearing of the US House of Representatives Subcommittee on Oversight and Investigations, said larger banks perceived as [...]
AIG pays back $4bn of loans from taxpayer August 23, 2010 BAILED-OUT insurer American International Group (AIG) said yesterday it paid back nearly $4bn (£3bn) in US loans in its single largest cash payment so far to reduce its debt to taxpayers. The payment reduces the size of the Federal Reserve Bank of New York’s credit facility by that amount to about $30bn. The outstanding principal [...]
EQUITIES NOT YET PRICING IN DEFLATION August 23, 2010 CFD MARKET STRATEGIST, GFT WHILE July was a good month for most stock indices, August has been pretty grim so far. An early rally faded as the S&P encountered significant resistance around 1,130. Equities have struggled to make headway ever since and low trading volumes have exacerbated intra-day market moves. Yet most indices are range-bound [...]
Hanson win dents Casey’s Ryder hopes August 22, 2010 AT LEAST one of Paul Casey, Padraig Harrington, Luke Donald and Justin Rose will miss out on the Ryder Cup after Sweden’s Peter Hanson took a giant step towards booking his place yesterday. Hanson’s triumph at the Czech Open propelled him from 15th to eighth on Europe’s Ryder Cup ranking list, pushing Casey out of [...]
Blackcurrants are not the only fruit August 18, 2010 BANK of England governor Mervyn King may be warning of the dangers of destructive inflation but the minutes of the latest Bank meeting show that these concerns are tempered by a fear of slowing down what is now officially known as a choppy recovery. Destructive inflation, as far as I understand it, is when inflation [...]
Go surf ‘n’ turfing in Farringdon August 18, 2010 Redhook 89 Turnmill Street, EC1M 5QU Tel: 020 7065 6800 FOOD SERVICE ATMOSPHERE Cost per person without wine: £40 THE restaurant industry has a huge crush on Farringdon. Farringdon is the cool girl that couldn’t care less, twiddling her hair and looking this way and that, with her grimy streets and warehouse-style apartment buildings. The [...]