Wigan's Roberto Martinez was being strongly tipped to take over at Liverpool after talks with the club's American owners Fenway Sports Group in Miami last week.
But there was still no word from Martinez as he arrived back in Manchester today following a family holiday in Barbados and Wigan chairman Dave Whelan has issued a deadline of Thursday for an agreement to be reached.
The story took a new twist today with Swansea boss Rodgers, who originally turned down the chance to speak to FSG, appearing firmly back in frame with online bookies Sky Bet. He is now 1/2 to be appointed Reds' manager with Martinez out to 2/1.
It now appears to be definitely a two-horse race with Borussia Dortmund manager Jurgen Klopp out to 12/1 after being as short as 2/1 early on Monday.
Football trader Joe Petyt explained: "When Martinez was photographed with FSG's John Henry in America he became the strong favourite but even during that time we saw sustained money for Rodgers.
"In the last 24 hours the amount of money we've seen on Rodgers has increased substantially which indicates to us that some people have heard that he's going to take the job."
Stocks Rise Even as Spain Starts to Follow the Greek Script - Yahoo Finance
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For months now, the intelligencia on Wall Street have said that Greece is a "sideshow" and what really matters in Europe is what happens to Spain and Italy.
Well, Spain took a very bad turn over the long holiday weekend and yet financial markets seem focused on a little bit of good news from Greece, at least for the moment.
Major stock proxies rose around the world overnight while U.S. averages were higher in early trading Tuesday morning. Stocks got a boost from renewed hopes about stimulus from China and Philadelphia Fed President Charles Plosser tells The WSJ "there's absolutely no reason for people in the United States to get all in a dither" about Europe.
Still, the action seems disconnected from news out of Spain. On Friday, the government was forced to effectively nationalize Bankia, its third-largest bank. Spanish bond yields surged to euro-era highs and bank stocks tumbled on fears more bailouts will be necessary, even as Prime Minister Mariano Rajoy declared Spain will not ask for funds from the EU (or IMF).
Given Spain's banks are sitting on an estimated $227 billion in bad real estate debt and Spanish unemployment is 24% there is "plenty of skepticism over Madrid's insistence that it will rescue its faltering banking sector without outside support," The FT reports.
Adding insult to injury, the Spanish government reported retail sales fell 9.8% year-over-year in April, the biggest monthly drop on record.
As Henry and I discuss in the accompanying clip, Spain seems to be following the same path of Greece, Portugal and Ireland before it. In other words, things are likely to get worse before they (hopefully) get better -- or spread to Italy, where the CEO of Intesa Sanpaolo, the nation's largest retail bank, expressed pessimism about the outlook for the rest of 2012.
But for the moment, market players seem to be focused on the good news out of Greece, where banks received a long-awaited package worth about $22.5 billion from the European Financial Stability Facility (EFSF).
In addition, the conservative New Democracy party is rising in the latest polls numbers while support for the radical Syriza party has slipped. A victory by Syriza in the June 17 election would be viewed as a rejection of the euro so New Democracy's improvement in the polls is welcomed news.
To be clear, financial markets don't have to make logical sense -- and often do not -- and the stock market is not telling the same story as the currency or bond markets, which seem genuinely concerned about Spain. At the moment, the stock market bulls seem to be either willfully ignoring the news out of Spain or betting it's bad enough to get the EU and ECB to crank up the bailout machines, yet again.
Aaron Task is the host of The Daily Ticker. You can follow him on Twitter at @aarontask or email him at altask@yahoo.com
For those with more money than taste... the £125,000 diamond encrusted gold coins on sale to celebrate Queen's jubilee - Daily Mail
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Forget commemorative mugs or tea towels, there's now a much more elaborate souvenir on sale to mark the Queen's diamond jubilee.
But with a price tag of 125,000, you'll need more money than taste in order to afford it.
The East India Company has released 60 minted gold coins, one for each year of Queen Elizabeth II's reign, encrusted with diamonds to celebrate the royal milestone.
Despite the hefty price tag, the company has revealed that it has had 'brisk and determined interest' from monarchist collectors and investors from across the globe.
Diamond Queen: The East India Company have released 60 of these gold coins encrusted with diamonds to mark the jubilee
The gold coins weigh a kilo and feature the head of the Queen wearing a diamond tiara, necklace and brooch with the words 'Elizabeth Regina, Diamond Jubilee 1952-2012' around the outside.
They have also released 60 silver coins of the same design and weight but at a 'cheaper' price of 25,000.
Each kilo struck by The Royal Mint represents over 1,000 hours of craftsmanship - and the company has received particularly high interest in the coins from international buyers.
As a result, the company is now scheduling private viewings in Monaco, Moscow, Geneva, Hong Kong, the Middle East and India.
The East India Company, which has a flagship store in Mayfair, has long-standing links to the British monarchy.
Expensive souvenir: Diamonds are encrusted in the tiara, necklace and brooch of the Queen's image raising the price of the one kilo gold coin to 125,000
Queen Elizabeth I founded the East India Company in 1600 by Royal Charter.
In the 19th century, the company set jewels in a tiara for Britain's other diamond Queen, Queen Victoria, when she was crowned Empress of India.
Sanjiv Mehta, CEO of East India Company said: 'The company was instrumental in building the British Empire with its legacy still visible today in what we know as the Commonwealth Nations.
'We chose to commission the Royal Mint, another quintessential British brand who first minted coins for us over 200 years ago, with this unique project to create a timeless tribute that reflects the grand achievement it celebrates.'
Commemorative: Sixty silver coins have also been made and are on sale for 25,000
Given the expensive nature of the purchase, buyers get more for their money than just the coin.
It is presented on royal purple velvet in a bespoke presentation case, designed by British company Linley.
A diamond-magnifying loupe is hidden in the base compartment of the presentation case, which enables owners to get a close-up view of the encrusted diamonds.
The purchase also includes a book which tells the story of the Queen Elizabeth II's 60-year reign.
MONEY MARKETS-Spanish bank CDS falls, relief seen temporary - Reuters
LONDON |
LONDON May 29 (Reuters) - Spanish efforts to recapitalise Bankia, its fourth biggest lender, have eased pressure on the cost of insuring Spanish bank debt against default - but not for long because the move is seen as further undermining the country's precarious finances.
The fate of Spain and its banking system is increasingly intertwined as markets worry that any bank rescue will further drive up national borrowing costs in a vicious cycle.
The cost of insuring debt issued by Santander and BBVA fell on Tuesday, having risen in the beginning of May when risk sentiment was also hurt by an anti-austerity vote in the Greek elections.
But analysts expect the fall in the cost of insuring Spanish bank debt against default to be short-lived and that spreads will realign with those on sovereign bonds on concerns that Bankia could be just the start of a rolling rescue of an over leveraged banking system.
Bankia's parent company BFA has asked for 19 billion euros in government help, in addition to 4.5 billion the state has already pumped in to cover possible losses on repossessed property, loans and investments.
Analysts worry that Spain could eventually be forced to seek an international bailout with unforeseeable consequences for the euro zone and financial markets.
A government source told Reuters on Tuesday Spain will recapitalise the nationalised lender by issuing new debt, not by injecting bonds, and will likely adopt on Friday a new mechanism to back its regions' debt.
"I guess a couple of weeks ago we didn't have news about this bailout. I am surprised that people have taken it that optimistically. I guess having something injected is better than nothing," Michael Hampden-Turner, credit strategist at Citigroup said.
"We are likely to see quite a lot of volatility in the bank CDS premium as the summer goes on. We see some volatility but I think it's probably a temporary thing. I think it's likely to realign (with sovereign CDS prices)."
The cost of insuring debt issued by Santander against default fell 11 basis points on the day to 401 bps, while the BBVA equivalent shed 10 bps to 441 bps, according to Markit data.
Five-year Spanish sovereign CDS meanwhile flirted with a record high of 560 bps, trading at 556 bps - little changed on the day and up from 508 bps in late April. Ten-year Spanish government bond yields also remained above 6 percent danger levels and not far from 7 percent - a level where Portugal and Ireland had to start considering bailouts.
"It seems like (increasingly) the credit risk is being transferred over to the sovereign fundamentally, that's why we have seen Spain hovering near its record wide," Markit analyst Gavan Nolan said.
On bank CDS prices, he said: "They had widened out a lot in the previous few weeks. Mainly I think it's a bit of a pull-back from that."
The trouble for Spanish banks could worsen if clearing house LCH.Clearnet SA further increases the cost of using Spanish bonds to raise funds via its repo service.
Earlier this month the clearer raised the initial margin on two- to 30-year Spanish debt, with the largest move in the 10- to 15- year maturity sector.
"Imposition of higher initial margin charges from LCH on Spanish government repo is almost an inevitability now. This may further depress liquidity in both the underlying government bond market and term repo market for Spain," Don Smith, economist at ICAP said.
Stocks Cut Gains on Spain Fears; FB Below $30 - CNBC
Stocks cut almost half their early gains Tuesday, as the euro slumped to its lowest against the dollar since July 2010 amid renewed jitters over Spain.
Meanwhile, Facebook [FB Loading... () 
] continued to tumble, falling below $29 a share for the first time amid negative sentiment over the company's grwoth potential. The stock has lost more than 20 percent of its value since its market debut on May 18 at $38 a share and Facebook’s market cap currently stands at $79 billion. (Read More: Still Like Facebook? There’s an ETF for That)
The Dow Jones Industrial Average held modest gains, led by Caterpillar [CAT Loading... () ] and United Tech [UTX Loading... () ], after logging its best week in May. Still, the blue-chip index has yet to see a two-day win streak this month.
The S&P 500 and the Nasdaq were also higher. The CBOE Volatility Index, widely considered the best gauge of fear in the market, traded below 22.
All three major averages are on track for their biggest monthly drop since last September.
Most key sectors were in positive territory, led by materials, while utilities dragged.
European shares closed higher, but worries over Spanish banks kept a damper on gains. Egan-Jones downgraded Spain's rating for the third time in the last month, this time to "B" from "BB-" with a negative watch. The euro briefly dropped below $1.25 following the report.
“Normally, we see Europe bringing weakness and U.S. rallying after Europe closes,” said Matt Cheslock, trader at Virtu Financial on CNBC’s “Power Lunch.” “Today, we’ve had the inverse—We had the debt rating cut on Europe but the market itself is surprisingly strong…[But] I’m not so positive on this and so I’m very skeptical of these numbers.”
Meanwhile, investors were encouraged by polls in Greece over the weekend that pointed to support for the pro-bailout party over the leftist organization ahead of the June 17 election.
On the economic front, home prices ended the first quarter at new post-crisis lows, according to the report, according to the S&P/Case Shiller composite index of 20 metropolitan areas. And consumer confidence declined to its lowest level in four months, according to the Conference Board.
"The disappointing consumer confidence number is a direct result of higher gas and food prices, which has decimated the household balance sheet," said Todd Schoenberger, managing principal at The BlackBay Group. "Factor in a miserable labor picture, and confidence continues to erode."
Shares of Opera Software [OPESF Loading... () ] surged amid market talk that Facebook [FB Loading... () ] is in discussions to acquire the firm for its advanced mobile phone software technology.
Chesapeake Energy [CHK Loading... () ] jumped after activist investor Carl Icahn disclosed a 7.6 percent stake in the natural gas producer and called on the company to replace at least four directors.
JPMorgan Chase [JPM Loading... () ] has sold an estimated $25 billion of profitable securities in an effort to prop up earnings after suffering losses connected to the bank's now-infamous "London Whale" trader, compounding the cost of those trades.
Samsung Electronics launches its Galaxy S smartphone in Europe, with the third generation model expected to be even more successful than its predecessor. The phone has helped the South Korean company topple Apple [AAPL Loading... () ] as the world's top smartphone maker.
Vertex Pharmaceuticals [VRTX Loading... () ] plunged almost 20 percent after the company released a corrected report of its cystic-fibrosis treatment. Initial results had exceeded expectations earlier this month.
China's biggest banks have accelerated lending toward the end of the month as Beijing starts to fast-track its approval of infrastructure investments in an effort to stem sagging growth, according to the Shanghai Securities News, citing unidentified sources.
—By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)
Coming Up This Week:
WEDNESDAY: Mortgage apps, pending home sales; Earnings from TiVo
THURSDAY: Challenger job-cut report, ADP employment report, GDP, jobless claims, Fed's Pianalto speaks, corporate profits, Chicago PMI, oil inventories, chain-store sales, Zipcar shareholders mtg; Earnings from Joy Global
FRIDAY: Non-farm payrolls, personal income & outlays, ISM mfg index, construction spending, auto sales, Wal-Mart shareholders mtg
More From CNBC.com:
- Cramer’s Top Dividend Stocks 2012
- America’s Fattest Cities
- People Who Quit Their Job and Made Millions
Hamilton Bank Recognized as Business 2000 Finalist - YAHOO!
To: BUSINESS AND STATE EDITORS
BALTIMORE, May 29, 2012 /PRNewswire-USNewswire/ -- Hamilton Bank was recognized by Network2000 as one of this year's Business 2000 Award finalists, an award that recognizes organizations for their commitment to promoting the advancement of women in all aspects of business operations.
Network2000 assesses powerful corporations in Maryland for their annual Business 2000 Award. The top five corporations that demonstrate a noticeable commitment to the advancement of women in senior executive positions are selected as finalists.
Hamilton Bank was one of the three Business 2000 finalists, a list that includes KatzAbosch and EntreMed. This year's winner was Chindex International, an American healthcare company.
"It is truly an honor to be recognized as one of the Business 2000 finalists," said Bob DeAlmeida, president of Hamilton Bank. "More than 80% of our employee base comprises women, and we feel very strongly about promoting their advancement across our business operations, in branch locations and in our administrative office."
The executive team at Hamilton Bank consists of seven people, four being women, including Sherri Wilson (vice president, risk and compliance), Dawn Cummings (vice president, business banking), Carole McClean (vice president, lending), and Robin Thiess (vice president, human resources and branch administration).
Along with the recognition from Network2000, Hamilton Bank was recently noted by several organizations for its success in leadership and growth. SmartCEO acknowledged the bank as one of the region's 50 fastest-growing companies and Baltimore's Small Business Administration (SBA) ranked the bank as seventh on its Lender List for providing more than $7.2 million in SBA-guaranteed loans in the region. Also, DeAlmeida was recognized as one of SmartCEO's Smart 100 for his leadership and strategic vision in running the bank.
About Hamilton Bank Founded in 1915, Hamilton Bank is a community bank with more than $325 million in assets and $33 million in regulatory capital. The bank employs more than 50 people and operates five branch locations across Greater Baltimore, serving the communities of Cockeysville, Pasadena, Towson, and Baltimore (Overlea and Hamilton) in Maryland. Whether online or on the corner, Hamilton Bank is a community bank that cares about its customers.
SOURCE Hamilton Bank
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Although some of the comments may seem a little negative, lets face it the Queen's achievment of being on the throne for 60 years is commendable. So why not have something like this to celebrate the jubilee, it goes without saying that this is certainly a once in a life time occasion.
- Geoff Wall-Davis, Longbridge, Birmingham, England., 29/5/2012 19:28
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