Election fears continue to weigh on sterling March 7, 2010 I WAS reading the news the other day and a headline caught my eye: “The Pound Plummets”. I couldn’t help but feel that it is too early to use “plummets” in this context. Since the beginning of this year, the pound is down around seven per cent against the dollar, but we have been quick [...]
Crouch targets a World Cup berth as two-goal salvo rescues England March 3, 2010 ENGLAND (3) vs Egypt (1) PETER CROUCH staked his claim for a World Cup starting spot after his two-goal show helped galvanise England at Wembley. The Egyptians gave Fabio Capello’s men a stern test in the first-half and deservedly led through Mohamed Zidan’s 18-yard strike. But Crouch replaced Tottenham team-mate Jermain Defoe at half-time and [...]
Fears over banking rules weigh on US March 3, 2010 US stocks ended little changed yesterday as worries about bank regulation and a setback for drug company Pfizer offset signs of improvement in the labor market and services sector. Pfizer, the world’s largest drugmaker, fell 1.6 per cent after its Alzheimer’s drug did not meet the main goals of a late-stage clinical trial, weighing on [...]
The comeback cad trying his luck in the Med March 2, 2010 JAMES Hewitt – former lover of Princess Diana, ex-solider, comeback cad – throws his head back and laughs at what I have just said. “Yes, I suppose this is like Rick’s in Casablanca,” he says when he recovers. “And everyone comes to Rick’s.” We are having dinner in a corner of Polo House, his bar [...]
Fed begins search for Kohn successor March 1, 2010 US President Barack Obama will nominate a replacement for Federal Reserve vice chairman Donald Kohn, who is stepping down from his post, in time for confirmation before Kohn’s term ends on 23 June. “We are not naming a successor today but we do plan to announce a nominee in time for confirmation before the end [...]
WAITING FOR OBAMA TO CALL THE TOP March 1, 2010 DAVID MORRISON CFD MARKET STRATEGIST, GFT ON 3 March 2009, US President Obama became a stock market guru when he delivered the following to investors: “What you’re now seeing is profit and earnings ratios starting to get to the point where buying stocks is a potentially good deal if you’ve got a long-term perspective on [...]
Economic Diary February 28, 2010 DATA on Friday showing Britain grew by 0.3 per cent in the fourth quarter dampened speculation that the Bank of England would change policy on Thursday. Purchasing managers’ indices (PMIs) out this week for the UK should also confirm the continued rebound in the UK economy in spite of the disruption caused by the cold [...]
Probe into US banks’ Greek debt dealings February 25, 2010 GOLDMAN Sachs is among Wall Street banks being investigated for helping Greece mask its alarming financial woes, US Federal Reserve boss Ben Bernanke revealed yesterday. Bernanke said the Fed and the US Securities and Exchange Commission were “interested” in complex derivative deals arranged by the big banks for the previous Greek government. Goldman Sachs is [...]
Wall St rocked by weak labour data February 25, 2010 US stocks recovered most of their losses but ended lower yesterday after weak employment and durable goods data added to recent worries about the strength of the economic recovery. Trading started on a sour note, but rumors of a 4-for-1 stock split planned by Apple coincided with a late-day rebound in stocks. A spokesman said [...]
A £53M CHEQUE GETS YOU THINKING February 25, 2010 WITH The Capitalist taking a well earned holiday, this ancient scribe has been ruminating over a few whimsical anecdotes that he has come across over the past 47 years in the City of London. My first recollection while learning the merchant banking ropes at Philip Hill, Higginson, Erlangers was to be sent to collect a [...]