News
UK banks show resilience
London-based Barclays has reported improved earnings for 2007, despite a $3.2 billion (£1.6 billion) net loss due to exposures to US subprime loans.
Crude oil hits new record
Crude oil for March delivery rose 73 cents to finish at a new record closing high of $100.74 a barrel on the New York Mercantile Exchange (Nymex) today.
TFS Energy launches Green Finance Division
TFS Energy has launched TFS Green Finance, which aims to provide clients with merchant banking and brokerage solutions for the environmental markets.
Amine appointed co-head of Credit Suisse's global investment banking department
Credit Suisse has named Jim Amine as co-head of its global investment banking department and head of its global markets solutions group.
PBGC throws in towel on liability-driven investment
The US Pension Benefit Guaranty Corporation (PBGC) has called time on its commitment to liability-driven investments (LDI) after admitting its current strategy has a less than one-in-five chance of meeting future funding needs.
Morgan Stanley names Owen Thomas CEO for Asia
Owen Thomas has been appointed chief executive of Morgan Stanley, Asia. Thomas has served as president of Morgan Stanley Investment Management (MSIM) since December 2005.
BNP Paribas appoints new strategy head for Americas equity derivatives
BNP Paribas has appointed Christian Roch as head of strategy and corporate development for equities and derivatives in the Americas, a newly created position at the French bank.
Japanese regulators release better regulation strategy
Daily news headlines
Treasury launches market abuse review
Daily news headlines
Mispricings at Credit Suisse cause $2.85 billion loss
Zurich-based Credit Suisse has suffered an additional $2.85 billion in writedowns due to ‘mismarkings and pricing errors’ in structured credit products exposed to US subprime mortgages.
Monoline costs ANZ $200 million
Melbourne-based Australia & New Zealand Banking Group (ANZ Bank) has announced a US$200 million loss provision due to counterparty risk exposures to troubled US monoline insurer ACA Capital.
Cautious optimism over Northern Rock nationalisation
Rating agency Standard & Poor's has upgraded the troubled UK bank Northern Rock from A- to A after the UK government announced its nationalisation.
US supervisors at loggerheads
Daily news headlines
ICAP executes first US Compliance Carbon Allowance Trade
ICAP announced today that its energy and emissions arm has executed the first over-the-counter (OTC) compliance carbon allowance transaction in the United States.
Natixis losses top €1 billion
Paris-based investment bank Natixis has announced a €1.1 billion writedown, as a result of the global credit crisis due to US subprime mortgages.
Deutsche loses US ABS and CDO research head
Deutsche Bank’s New York-based head of US asset-backed securities (ABS) and collateralised debt obligation (CDO) research, Anthony Thompson, is no longer with the bank.