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FSA consults on new liquidity rules
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NY approval brings Ice CDS clearing platform a step closer
The Intercontinental Exchange (Ice) has won permission to create a New York-chartered trust company, the next step towards the creation of its central counterparty (CCP) facility for credit default swaps (CDS).
SEC votes to tighten rules on rating agencies
The US Securities and Exchange Commission (SEC) voted yesterday for new rules governing rating agencies, aimed at reducing conflicts of interest in the ratings process.
Credit Suisse wields axe after Sfr3 billion loss
Credit Suisse is planning to cut 5,300 jobs following a Sfr3 billion ($2.5 billion) net loss at the firm during October and November this year. Two-thirds are expected to be in investment banking - the primary source of the bank's losses.
India lifts ban on four commodity futures contracts
The Indian regulator has given permission for futures trading in soya oil, chickpea, potato and rubber to resume following a seven month ban.
Earth Capital Partners to launch $5bn sustainability fund
Former chief executive of Man Group, Stanley Fink, is chairing an environmentally focused fund management company entitled Earth Capital Partners that aims to raise $5 billion over the next five years.
BIS: external audit quality must improve
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Hedge funds next in EU firing line
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Russia cracks down on insider trading
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AIG terminates $46.1 billion of credit-default swaps (CDS)
AIG announced on Tuesday that an off balance sheet vehicle created by the Federal Reserve Bank of New York (FRBNY) has purchased $46.1 billion of its toxic collaterised debt obligations (CDOs).
Treasury called to account for Tarp
The US Treasury has failed to provide oversight of vital parts of its $700 billion Troubled Assets Relief Program (Tarp), according to a report issued today by the US Government Accountability Office (GAO).
EDF reveals counter-offer for Constellation
Constellation Energy has received an unsolicited $4.5bn bid from Electricite de France (EDF) for 50% of its nuclear business.
UN suspends carbon credit verifier DNV
The United Nations CDM Executive Board has temporarily suspended Norwegian consulting firm DNV's powers for accrediting clean development mechanism (CDM) projects, prompting potential delays for project developers' issuance of Certified Emission…
CFOs outline financial challenges for 2009
Credit capacity constraints will be the greatest financial challenge for the oil & gas industry in 2009, according to 57% of chief financial officers (CFOs) in the sector.
OTC Global Holdings forms new portfolio company
OTC Global Holdings (OTCGH) has formed its ninth portfolio company Pinnacle Derivatives, which will offer a complete range of traded instruments for financial institutions, producers and end users.
CDSs on G-10 sovereigns hit record high
The cost of credit protection on several Group of 10 countries reached record levels in early trading this morning.
EU paper reviews Europe's executive pay measures
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Apra denies 8% Tier 1 capital claims
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Enel launches renewables arm
Italian energy company Enel launched renewables arm Enel Green Power on December 1, to expand operating power generation from renewable resources in Europe and internationally.
Econcern to make €863 million investment in China
Renewables firm Econcern is to invest €863 million in four onshore wind projects in China. The total investment represents 720 megawatts of sustainable generation capacity.
Banks cut staff in Europe and US
More European and US banks joined the growing list of institutions to cut staff in the wake of the financial crisis.
Australian interest rate cut 100bp to 4.25%
The Reserve Bank of Australia (RBA) reduced its overnight interest rate today by 100bp to 4.25% - the lowest level since records began in 1990.
Five new partners for Arch Financial Products
London-based asset-managers, Arch Financial Products, last week appointed five new partners to expand its Middle Eastern and Asian operations.
Exotic derivatives head steps down at Citi
Alberto Cherubini, the former London-based head of exotic equity derivatives trading for Europe at Citi, has taken voluntary redundancy in order to pursue outside interests.