Hopes for earnings see Wall Street rise October 6, 2009 WALL Street stocks rose yesterday amid signs the global economy was recovering and optimism that corporate earnings reports will beat expectations. The economic optimism spurred gains in energy and other commodities, lifting shares of oil and resource companies. Shares of Exxon Mobil rose 1.6 per cent to $68.66 and were among the top gainers on [...]
Bernanke says Fed will share oversight role October 1, 2009 FEDERAL Reserve chairman Ben Bernanke yesterday backed away from a controversial provision of President Obama’s administration reform plan, saying new oversight by the Fed on “systemic risk” should be shared with other regulators. The key lawmaker told a congressional panel that a new council of financial regulators, not just the Fed, should monitor big-picture risks [...]
The US is down, but it is far from out September 30, 2009 THERE is nothing better for the soul than a visit to New York. London is the greatest City on earth; but the Big Apple comes a close second. America has suffered even more badly than Britain from the crisis: a greater number of homes have been repossessed, millions have lost their jobs and vast wealth [...]
Woods claims FedEx Cup September 28, 2009 GOLF: World No1 Tiger Woods took home a cheque for $10m (£6.3m) after being crowned the winner of the FedEx Cup, despite Phil Mickelson claiming the Tour Championship. Mickelson shot a final-round 65 on Sunday to claim victory at East Lake Golf Club but Woods was second, ensuring the 33-year-old topped the FedEx Cup standings. [...]
NEW YORK REPORT September 24, 2009 US STOCKS fell yesterday as signs of weakness in housing and investors’ worries that authorities might be curbing stimulus efforts too soon sparked caution. World central banks said they would scale back infusions of US dollars into their banking systems, fueling unease triggered a day earlier when stocks sold off following the US Federal Reserve’s [...]
3i Group asset sales fail to show signs of improvement September 24, 2009 LISTED private equity giant 3i Group yesterday said the recent rallies in stock markets have not fed through to gains on its assets, in a downbeat trading statement. “Despite the recent strong performance of equity markets, the economic outlook is still fragile and private equity and mergers and acquisition markets remain subdued,” said chief executive [...]
UNCERTAINTY MAKES FOR EDGY TRADERS September 23, 2009 GEORGE TCHETVERTAKOVHEAD OF MARKET RESEARCH, ALPARI UK Over the past few weeks, market participants have been quick to price in monetary policy tightening in response to resurgent stock markets, buoyant macroeconomic indicators and strong sentiment across the developed world. Policy divergence or even policy “desynchronisation” whereby policy tightening is carried out at different rates, could [...]
NEW YORK REPORT September 23, 2009 US stocks fell yesterday as investors worried the Federal Reserve is closer to pulling back on extraordinary measures to inject funding to shore up the economy. The Fed’s policy-setters met and kept interest rates unchanged, as expected, but they also said the US central bank would slow its programme of purchasing mortgage debt to its [...]
Fed sounds upbeat on economy September 23, 2009 US CENTRAL bank the Federal Reserve yesterday left interest rates unchanged, as it issued a statement boosting hopes that the world’s biggest economy is emerging from recession. The Fed said it is to keep rates ultra-low for some time to support the post-slump recovery. Short-term interest rates were kept at an all-time low of 0 [...]
Space shuttle on wheels September 22, 2009 IF NASA and superyacht designer Wally Power were to design a car together, this would be the result. Staring at the rear end of the GT-R is like looking at the space shuttle. There are four exhaust pipes, each with a similar girth as a prize-winning marrow, and above them are four tail-lights which, when [...]