News
UK revenue & customs loses Private details of 25 million People in post
LOSSES & LAWSUITS
The convenient untruth
SPONSORED STATEMENT
Subprime insurance lawsuits reach $3 billlion
LOSSES & LAWSUITS
Bank and mortgage firm scammed for thousands
LOSSES & LAWSUITS
London Stock Exchange hit by outage
LOSSES & LAWSUITS
LEBA launches CER index
The London Energy Brokers’ Association (LEBA) is launching a benchmark index for certified emissions reductions (CERs) on 3 December. The LEBA Carbon CER Index will be calculated using the average of trades for physical delivery transacted by LEBA…
Cruz leaves Morgan Stanley, as Chammah and Gorman rise up the ranks
Morgan Stanley announced a management overhaul yesterday, naming Walid Chammah and James Gorman co-presidents of the firm. They will replace Zoe Cruz, who spent 25 years at the firm and was the highest paid woman on Wall Street, and Robert Scully, who…
Moody's lowers UBS rating due to subprime fears
Rating agency Moody's has cut UBS's bank financial strength rating (BSFR) from A- to B+, saying the bank still has more subprime losses to reveal.
German banks take on $520 million in IKB losses
A pool of German banks led by KfW agreed yesterday to take on the $520 million risk associated with Havenrock, one of the vehicles funding IKB's troubled Rhineland investment conduit.
E*Trade’s CEO departs as Citadel injects $2.5bn into the firm
E*Trade’s chief executive, Mitchell Caplan, is the latest high-profile casualty of the US subprime crisis. Jarrett Lilien, the financial services firm’s president, has been named acting chief executive.
S&P to launch three CDS indexes
Standard & Poor’s will launch three US-based credit default swap (CDS) indexes in the first quarter of 2008.
Automated trading to compose 90% of futures by 2010
Pit trading is fading fast. An estimated 50% of all futures markets transactions in 2007 occurred through automated trading strategies – including market-making and quantitative black-box trading activities - and this proportion will rise to 90% by 2010,…