News
Vattenfall enters UK power market
Vattenfall Trading Services has started trading over-the-counter and exchange wholesale power in the UK from its Hamburg office.
Quinn Emanuel poaches Allen & Overy's Daniel Cunningham
Daniel Cunningham has been hired by the US arm of business litigation firm Quinn Emanuel Urquhart Oliver & Hedges.
CDSs on financials continue to tighten
The cost of credit protection on both US and European financials continued to fall today, in the wake of US Treasury secretary Timothy Geithner announcing a toxic-asset purchase plan aimed at boosting the US financial system yesterday.
Icap launches repo settlement facility to reduce counterparty risk
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Geithner to announce illiquid asset repurchase programme
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Fraud investigators are hiring as financial crime soars
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Market frustrated by lack of detail on US toxic-asset purchase plan
Economists and analysts have criticised the US Treasury's updated toxic-asset purchase plan for again failing to provide the granular detail or specified launch date necessary to reassure capital markets the proposals will indeed help curb the global…
Lyxor limits counterparty risk of ETN
Société Générale's Lyxor Asset Management unit is marketing a new exchange-traded note (ETN) that follows the price of gold, which it says will significantly reduce the problem of counterparty risk.
'Technical' factors drive banks back to profit
Major US and European banks are predicting profits for the first quarter of 2009 - but analysts caution that the apparent upturn has more to do with technical factors than a real recovery in performance.
Suncor bids for Petro-Canada
Suncor has announced plans to boost its oil sands portfolio through a merger with Petro-Canada that will see the combined entity operate under the Suncor name.
CDSs on European financials tighten ahead of Geithner announcement
The cost of credit protection on European financials fell this morning, ahead of US Treasury secretary Timothy Geithner's announcement of further support for the US financial system.
Iosco releases recommendations for hedge fund supervision
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IndyMac losses put more strain on FDIC funds
Yesterday's sale of failed California mortgage lender IndyMac has left the US Federal Deposit Insurance Corporation (FDIC) with a $10.7 billion bill - weakening its reserves further even as the list of failed banks requiring support continues to lengthen.
CDS spreads widen on financials
The cost of credit protection rose on US and European financials this morning.
FSA recommends adding remuneration guidelines to its Handbook
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OECD and IAIS release corporate governance draft for insurers
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Iosco joins call for offshore crackdown
The International Organisation of Securities Commissions (Iosco) has joined calls for new capital rules to enforce transparency on offshore financial centres.
European utility CEOs aim for carbon-neutral power by 2050
Sixty European electricity company CEOs have handed over a declaration to EU energy commissioner Andris Piebalgs in which they pledge to supply carbon-neutral power by 2050.
CME launches OTC grain swaps through ClearPort
The Commodity Futures Trading Commission (CFTC) has given regulatory approval for the CME to clear corn basis swaps and calendar swaps for corn, wheat and soybeans.
Deutsche Bank takes stake in iron ore brokerage
Deutsche Bank has taken an equity stake of undisclosed size in newly-established London Dry Bulk (LDB), a specialist physical and financial iron ore brokerage division of London Commodity Brokers.
LCH.Clearnet to launch OTC clearing service for spot emissions
LCH.Clearnet has announced intentions to launch a clearing service for UK participants in the spot market for carbon credits.
CDS spreads tighten on European banks
The cost of credit protection fell today on European financials in response to yesterday's commitment by the Federal Open Markets Committee to buy up to $300 billion in long-term US Treasury securities.
Turner report published
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Cebs stresses simplicity and communication in report on liquidity buffers
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