News
Derivatives loss impacts on Reliant’s Q3 results
Reliant Energy has announced a third quarter net loss of $1.04bn, due to unrealised losses of $1.69bn on energy derivatives.
Coal futures contract launched on ICE
Coal-trading platform globalCOAL has collaborated with global futures exchange the IntercontinentalExchange (ICE) to introduce a financially settled coal futures contract, entitled the gC ICE Newcastle Futures contract, specifically designed for the…
BP withdraws from CCS competition, exits UK wind power
BP Alternative Energy has just announced that it is withdrawing from the UK competition for funding for a Carbon Capture and Storage (CCS) demonstration plant, leaving just three contenders.
Russian stocks dragged down by plummeting oil price
Trading volumes on Russia’s two main stock exchanges, Russian Trading System (RTS) and the Moscow Interbank Currency Exchange (Micex), were significantly down in October, following plunging commodity prices and a worsened global financial outlook.
Porsche makes €6.83bn on VW options
Porsche revealed today it had made a €6.83 billion gain in the past business year on cash-settled options on shares of rival German car manufacturer Volkswagen.
European and American CDS spreads up again
The cost of credit protection on European banks continued to widen in early trading today as quarterly profits plunged across the board.
Nomura takes on ex-Lehman staff
Nomura, the Tokyo-based financial services group, has appointed Thomas Siegmund and Jai Rapal as joint heads of fixed income for Asia-Pacific, excluding Japan. They will both report to Zenji Nakamura, head of global fixed income.
SG hit by €1.27 billion in writedowns
Société Générale's profits dropped 84% in the third quarter, as the bank's exposure to various aspects of the credit crisis caused it to announce writedowns of €1.27 billion.
Trader and equity derivatives heads depart DB
Two senior equity derivatives heads and one equity derivatives trader have left Deutsche Bank after it reported €386 million in losses on its equity prop trading book.