News
JP Morgan snares Goldman commodity head; ramps up Asia team
JP Morgan has hired Oral Dawe from rival Goldman Sachs as its chief executive of Asia-Pacific commodities. Dawe was previously co-head of commodities for Asia alongside Allan Marson at Goldman Sachs. Marson is now the sole head of commodities for the…
Deutsche names Korean global markets head
Deutsche Bank has relocated Jeffrey Chung, its former Hong Kong-based co-head of equity sales in Asia, to Seoul as its new head of global markets for Korea, replacing MH Kim.
BIS sets up new Americas council
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Financial services confused over TCF
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Regulation and corporate governance still top of agenda
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Enel goes green in China
Italian utility Enel has signed two agreements in China, one to develop Chinese clean coal and carbon capture and storage projects, the other to purchase over 11 million certified emission reduction (CER) credits from green projects in the Chinese steel…
Financial contracts to make June debut on DME
The Dubai Mercantile Exchange (DME) will launch two financially settled futures contracts for Brent and Oman crude oil for trade date June 2, adding to its existing physically delivered Oman futures benchmark contract.
5,500 jobs to go at UBS as losses continue
UBS will cut 5,500 jobs over the next 12 months as its losses due to subprime exposure continue, the bank announced today.
Finance and banking dominate April US CDS trading
The banking and financial services sectors dominated trading volumes of credit default swaps (CDS) in the US in April, according to GFI, a New York-based interdealer broker. The most actively traded names were Washington Mutual, Lehman Brothers and…
Isda launches LCDS update protocol
The International Swaps and Derivatives Association has launched the 2008 European loan credit default swap (LCDS) update protocol.
Fed ramps up bank support to $75 billion
The US Federal Reserve has increased the scale of its Term Auction Facility (TAF), intended to provide extra liquidity in the securities market, and has relaxed its criteria for collateral in another support, the Term Securities Lending Facility (TSLF).
Crude posts new high as analysts eye $200/bbl
Crude oil closed at a new record high of $121.84 a barrel on the New York Mercantile Exchange (Nymex).
HSBC hit by fraud attempt
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New governor overhauls South Korea's financial watchdog
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Mifid MTFs produce cost savings for brokers and dealers
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Banks under pressure to change incentives
Banks are coming under increasing pressure from regulators, politicians and bank shareholders to review their pay and bonus structures to ensure traders are not incentivised to take excessive risks.
Banks urge review of pro-cyclicality rules
The subprime crisis has sparked fears that regulators might insist banks hold higher regulatory capital, a result some bankers insist would choke off lending and push the global economy into a recession.
Moody’s: South African securitisation at turning point
South African securitisations are deteriorating but their ratings remain secure for now, according to New York-based Moody’s Investors Service.
Markit hires Longden from ABN Amro
London-based data provider Markit has appointed Charles Longden as managing director in fixed income and credit.
Idzik exiting as BarCap COO
Paul Idzik, group chief operating officer at Barclays, is leaving the bank.