News
Citi names Vikram Pandit as CEO
Citi has appointed Vikram Pandit as a replacement for its previous chief executive officer, Charles Prince, who stepped down in November after the bank faced writedowns of billions of dollars on its mortgage-backed securities business.
Nymex Launches Green Exchange
Nymex Holdings, the parent company of the New York Mercantile Exchange (Nymex), is to form a new exchange trading environmental futures, options and swaps contracts.
Another CDO head leaves Calyon
Edouard Bremond, previously global head of cash collateralised debt obligation (CDO) structuring, has left Calyon.
BGC hires head of fixed-income e-commerce
Andrew Stone has been appointed head of fixed-income products for e-commerce at London-based interdealer broker BGC.
TSX to take over Montreal exchange
TSX Group, which owns the Toronto Stock Exchange, is to buy the Montreal Exchange, after overcoming resistance from its management.
UBS reports further $10 billion subprime writedowns
In its revised fourth-quarter outlook, UBS has changed its prediction for its results from profit to loss. This includes additional writedowns of $10 billion related to US subprime mortgage exposures.
Market reacts to US Treasury subprime plan
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NYSE Euronext to acquire Powernext Carbon
NYSE Euronext has reached an agreement with French energy exchange Powernext to acquire Powernext Carbon, the company's emission permit division, as part of its plan to set up an international carbon market.
US Senate halts progress of energy bill
A package of energy measures passed by the House of Representatives Thursday stalled in the Senate Friday because of opposition to two key provisions.
SIV pain resurfaces through ratings
Moody’s Investors Service has taken negative action on 20 structured investment vehicles (SIVs). The action came as the first part of a sector review started at the beginning of last month by the rating agency.
Rabobank bails out Tango SIV
Rabobank has agreed to take the assets of Tango Finance, a structured investment vehicle (SIV) it sponsors, on to its balance sheet. The Dutch bank plans to do this in early 2008 to prevent a potential fire sale of the SIV’s high-quality assets.
BarCap launches global carbon index
Barclays Capital has unveiled an index intended to be a benchmark for the rapidly growing carbon-trading markets.
Governments must focus on financial crime
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