News
JP Morgan buys Bear Stearns after receiving Fed guarantee
JP Morgan, the middleman in the Federal Reserve's discount-window attempt to prop up Bear Stearns on Friday, will buy the troubled bank at a knockdown price.
Bank writedowns - is the worst over?
The credit crisis that has roiled the financial markets has wiped out massive amounts of value from banks' balance sheets, resulting in crippling losses for some banks. Most recently, HSBC announced a 79% rise in loan impairment charges and credit risk…
Margin calls bring mortgage funds to their knees
Funds that invest in asset-backed securities (ABSs) are struggling to cope with hikes in margin calls from investors – and some are even collapsing.
US regulators tighten grip on mortgage lenders
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Oil falls after record week
Crude oil for April delivery closed down 12 cents to $110.21 a barrel on the New York Mercantile Exchange (Nymex).
Gazprom Marketing & Trading makes smart metering investment
Gazprom Marketing & Trading, the UK-based subsidiary of the Russian natural gas giant has taken an equity stake in a leading automated meter reading supplier.
Montreal Climate Exchange to launch carbon futures
The Montréal Climate Exchange (MCeX), a joint venture of the Montréal Exchange (MX) and the Chicago Climate Exchange (CCX) is planning to launch futures contracts on Canada carbon dioxide equivalent (CO2e) units on May 30, 2008, subject to regulatory…
ISE vice-chairman quits over insider trading charges
John Marshall, the vice-chairman of the International Securities Exchange in New York, has resigned after being charged with insider trading.
Fed bails out Bear Stearns
The Federal Reserve Bank of New York has stepped in to prevent insolvency at Bear Stearns, offering to provide liquidity through JP Morgan.
Technology offers 40% AML saving, says study
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Sovereign wealth funds spark lively debate
At the Sovereign Wealth Management conference - hosted by Central Banking Publications in London on Thursday - calls for greater transparency by sovereign wealth funds were matched by demands from the funds themselves for fair regulatory treatment.
Standard swap-deliverable CCDS expected soon
A working group of about 10 major dealers and brokers could be just two months away from producing a standard contract for swap-deliverable contingent credit default swaps (CCDSs), predicted a person close to the group.
Moody's caves on muni bond ratings
In reaction to criticism of its double standard, credit rating agency Moody's will start rating municipal debt on the same scale as corporate debt, in a move that could make life easier for municipal issuers - but deprive the troubled monolines of a key…
Deutsche names Ritchotte COO of global markets
Henry Ritchotte has been promoted to chief operating officer (COO) of Deutsche Bank’s global markets division. He will replace Mark Ferron, who will retire in early 2009.
New LevX series to debut
Markit has announced the launch of the Markit iTraxx LevX Series 2 leveraged loan index for European loans.
Police question second SG employee
A new lead has emerged in the recent case of unauthorised trading at Société Générale (SG), which cost the bank €4.9 billion in January.
Gu takes over FICC at Merrill
David Gu has taken over as head of fixed income, currency and commodities in Europe, the Middle East and Africa at Merrill Lynch.
FSA releases systems and controls questions on SG rogue trading incident
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UK to launch new fraud intelligence unit
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