News
Derivatives trades rise on falling rouble
Forex derivatives volumes have soared in Russia as investors react to the plunging value of the rouble.
City bonuses may not be closely regulated in the UK
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Anger as Bank of America withholds bonuses after $4 billion Merrill payout
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New US Treasury secretary publishes Tarp bailout contracts online
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US Wrap: Issuers get bullish on S&P 500 recovery
Six products were launched into the US market yesterday, accelerating a subdued week. Morgan Stanley added to its previous launches with two reverse convertibles, while Credit Suisse and Goldman Sachs both launched accelerated growth products. Four of…
US agriculture committee plans to ban naked CDSs
The US House of Representatives Committee on Agriculture has published a draft bill seeking to limit the holding of credit default swap (CDS) contracts to market participants owning the bonds of the reference entity in question.
CDSs widen on European auto industry
The cost of credit protection on European auto manufacturers rose in early European trading today, reversing gains made yesterday, while Japanese corporates continued to suffer.
Spanish police arrest six for $600 million LSE fraud
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Cebs releases template for supervisory college agreements
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Santander offers 1.38 billion euros to Madoff investors
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Hedge funds grilled by UK Treasury committee
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US Wrap: Morgan Stanley gets in the straddle
Three products were launched into the US market yesterday, continuing a subdued week in the space. Morgan Stanley issued two products, which were both linked to the S&P 500, following the trend of issues banking on a recovery in US equity markets.
FOMC holds rates as spectre of quantitative easing looms
The Federal Open Market Committee (FOMC) has kept its target for US interest rates at between 0-25 basis points as the Federal Reserve reiterated its commitment to use new tools to fight the worsening economic downturn.
Wells Fargo posts $2.55 billion loss in Q4
Hampered by its move to bolster credit loss reserves, Wells Fargo saw a $2.55 billion loss in the fourth quarter of 2008.
FFA market shifts further towards clearing
Fears of counterparty credit risk have led to a sharp migration towards clearing in the freight derivatives market over the past four months. The ratio of cleared forward freight agreement (FFA) trades to non-cleared over-the-counter trades in the last…
Total moves to boost oil sands involvement
Total E&P Canada has announced an offer to acquire Toronto-listed UTS Energy (UTS) for C$617m.
European Commission plans global carbon trading scheme
The European Commission (EC) today set out proposals for a global agreement to tackle climate change, a pact it hopes will be signed at the UN climate conference in Copenhagen in December.
US wind energy grows by 8300 MW in 2008
A record 8358 megawatts of new wind-powered generating capacity was installed in the US in 2008, according to the American Wind Energy Association (AWEA). The $17 billion investment represents a 50% growth on 2007 generation levels.
CDSs tighten on European auto industry
The cost of credit protection on European auto manufacturers fell this morning, while rising to record highs on Japanese corporates.
Cebs and Ceiops release 10 principles for supervisory colleges
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Cifas figures show UK fraud on the rise
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US Wrap: Trickle of reverse convertibles begins week
Two reverse convertibles have been launched into the US market by ABN Amro, kicking off a slow start to the week. Both notes have a maturity of three months. One offers exposure to US energy company First Solar Energy, which manufactures solar panels…
CME and JSE to cooperate on corn futures contract
The Johannesburg Stock Exchange (JSE) is to license CME Group's benchmark corn futures settlement prices to create a new JSE cash-settled corn futures contract.
Nomura downgraded after $3.8 billion Q3 loss
Nomura Holdings, Japan's leading brokerage, has announced a third quarter loss of ¥342.9 billion ($3.8 billion). The financial services company said the losses were driven by a series of "one-off" losses from exposure to Madoff funds, Icelandic banks,…