The biggest Mad Man in the world still retains a close eye for detail April 7, 2010 This downturn is evidently really beginning to get on the nerves of WPP chief executive Sir Martin Sorrell. He says: “People’s expectations have shifted. Company profits were down 30 per cent in 2008, now that they were only down, say, 13 per cent last year, they are calling that good. But if profits keep falling [...]
Fed says rates could stay low April 6, 2010 THE Federal Reserve could keep interest rates ultra-low for even longer than investors expect if the economic outlook worsens or inflation drops, minutes from the central bank’s last meeting suggested. The minutes of the Fed’s March gathering showed lingering concern about the economy’s prospects, with policymakers indicating they were in no hurry to raise interest [...]
S&P 500 boosted by lift for bankers April 6, 2010 THE S&P 500 and Nasdaq rose modestly yesterday as the banking sector got a lift from positive analyst comments, while minutes from the Federal Reserve’s last meeting eased concern over rising rates. The minutes suggested the central bank could keep interest rates at ultra-low levels longer than investors have anticipated if the economy worsens. Lower [...]
Five tips for traders in the second quarter April 5, 2010 THE first quarter of 2010 was a rocky one. We had confirmation that the British economy exited recession in the last three months of 2009 but political polls increasingly pointed towards a hung parliament come the general election. The Eurozone suffered dreadfully from the Greek fiscal crisis and fears grew that its woes could spread [...]
FOREX FLASH March 30, 2010 CHINESE REVALUATION SAGA CONTINUES BlueGold Capital Management’s Stephen Jen said yesterday in a client note that China may refloat the yuan next month to counter the criticism that it is giving its exporting firms an unfair advantage. A revaluation “should help diffuse much of the risks associated with trade protectionism and allow China to resume [...]
CITI SELL-OFF REAPS $9BN PROFIT March 29, 2010 AMERICAN taxpayers stand to nearly double their profit from the bailed-out Wall Street banks after the US Treasury said it would sell its entire stake in Citigroup yesterday. The US government will reap up to $8.8bn (£5.9bn) if it manages to offload the shares at yesterday’s opening price of $4.39, a four-month high. The profit [...]
DEVIL IN THE DETAIL OF NON FARM DATA March 29, 2010 WITH Good Friday marking the start of the Easter holiday, investors could be forgiven for expecting the shortened week to lead to traders’ indifference and an “end-of-term” atmosphere. Yet this could be a crucial period for markets. The first quarter comes to an end on Wednesday, and with it the Fed’s $1.25 trillion mortgage-backed securities [...]
A central London property means you can avoid the Tube crush and commute on foot March 25, 2010 ONE in 500 Londoners currently walks to work, and those who have witnessed the capital’s rush-hour crush, when mild-mannered professionals turn into a baying rabble, stamping over the elderly, the sick or the pregnant – anyone who gets in between them and a seat – will understand the appeal of this arrangement. The journey to [...]
Google’s move in China boosts its popularity March 23, 2010 GOOGLE’S BrandIndex “Buzz” scores have soared this month following the announcement of a major publishing deal with the Italian government and the decision by Google chief executive Eric Schmidt to break the company’s silence over its long-standing dispute with the Chinese Government over censorship. YouGov’s BrandIndex provides a measure of consumer sentiment for different brands. [...]
FOREX FLASH March 23, 2010 RATES FORCE JAPANESE TO LOOK ABROAD Japanese households are choosing to send their savings overseas at the fastest pace since 2007 as they seek out higher yielding assets. With benchmark interest rates only 0.1 per cent in the Asian country, investors are choosing to buy Chinese stocks and Brazilian bonds to gain exposure to high-yielding [...]