No longer safe or sound July 6, 2010 WITH disappointing datasets coming out of the US – from employment to house prices – and equity markets looking shaky, some analysts have started to question whether this could be the beginning of the end for the greenback as the world’s “safe haven”. While such scenarios are usually imagined to play out over five- or [...]
It’s a decent result, claims flogged Fed June 30, 2010 ROGER FEDERER saw the defence of his Wimbledon title come to a halt on Centre Court yesterday, but insisted: “It’s a decent result.” The Swiss top seed went down 6-4, 3-6, 6-1, 6-4 to 12th seed Tomas Berdych – his first defeat before the final at SW19 since 2002. Federer cited a back and thigh [...]
FTSE sinks to lowest level in a month as Fed’s statement makes investors nervous June 24, 2010 BRITAIN’S FTSE 100 share index fell yesterday as fears over the sustainability of a global recovery hit commodity-linked stocks and banks as risk appetite waned. The FTSE 100 closed down 78.29 points, or 1.5 per cent at 5,100.23 points, its lowest closing level in almost a month after shedding 1.3 per cent on Wednesday. A [...]
US base rate held at zero June 23, 2010 THE US Federal Reserve said it would hold interest rates at a record low for “an extended period” yesterday, saying it aims to aid an economic climate that has become “less supportive”. The Federal Open Market Committee voted nine to one to keep the rates at zero to 0.25 per cent after its two-day meeting, [...]
Fed spooks stocks with grim outlook June 23, 2010 US stocks mostly fell in a volatile session yesterday after the Federal Reserve downgraded its assessment of the economic recovery as it vowed to keep cheap money flowing. The market bounced between positive and negative territory as investors wrestled over the implications of the Fed’s statement in the afternoon on the economy and interest rates. [...]
‘Lucky’ Fed survives huge SW19 shock June 21, 2010 DEFENDING champion Roger Federer admitted he “got lucky” after surviving what would have surely been one of the biggest shocks in Wimbledon history on a historic opening day at SW19, which finished at almost 11pm. The six-time winner was two sets to love down on little-known Columbian Alejandro Falla, who then served for the match [...]
Fed to keep power post reform June 16, 2010 AFTER heavy criticism of its handling of the financial crisis, the US Federal Reserve yesterday appeared likely to escape the most aggressive congressional scrutiny of its interest rate deliberations. Lawmakers finalising a sweeping overhaul of financial regulations have indicated they may back away from a measure that would subject the US central bank’s monetary policy [...]
Feds charge former US mortgage boss with multi-billion fraud case June 16, 2010 THE former head of the now bankrupt mortgage lender Taylor, Bean & Whitaker Mortgage Corp (TBW) has been charged in a fraud scheme that led to multi-billion-dollar losses and targeted the 2008 federal bank bailout programme, US prosecutors said yesterday. Lee Farkas, 57, served as chairman of TBW, one of the largest privately held US [...]
Wall Street ends flat as mixed data causes caution June 16, 2010 US stocks finished flat yesterday as cautious comments from FedEx and weak housing market data overshadowed a surge in industrial production. Investors were caught off guard after package company FedEx, deemed an economic bellwether because it serves a wide range of industries, said higher costs would constrain 2011 earnings. FedEx shares slid six per cent [...]
Higher costs set to crimp FedEx profits next year June 16, 2010 FEDEX reported a quarterly profit yesterday that beat analyst expectations, but said costs would constrain its 2011 earnings. The company projected 2011 earnings per share in the range of $4.40 (£2.97) to $5.00. “We expect the growth in earnings in fiscal 2011 to be constrained,” chief financial officer Alan Graf Jr said, citing increases in [...]