News
Dynegy announces further losses and asset sale
Wholesale power provider Dynegy has implemented a cost-cutting scheme and plans to sell nine power projects after announcing a $345 million second quarter net loss.
Centrica given all clear for British Energy stake
UK competition regulator the Office of Fair Trading (OFT) has approved plans by Centrica to take a minority stake in EDF-owned nuclear generator British Energy. British Energy operates eight nuclear power stations in the UK.
MCX offers imported thermal coal futures contract
India's Multi Commodity Exchange's (MCX) newly-launched thermal coal futures contract traded over 5500 metric tonnes on its first day of trade on Friday 7 August.
ECB's Gonzalez-Paramo Speaks on QE
At Risk Europe 2009 in Frankfurt, an ECB board member discusses the role of central banks, when markets and monetary policy combine.
Chinese bank fraud trial begins
Daily news headlines
GHG allowances could cost $191 by 2030
The Energy Information Administration (EIA) has predicted greenhouse gas allowances could cost $191 per metric ton by 2030 under the American Clean Energy and Security Act.
Indonesian commodities exchange to begin trading in September
Indonesia has followed Asian counterparts Singapore and Hong Kong with the launch of its own commodities exchange set to begin trading in September or October. The Indonesia Commodity & Derivative Exchange (ICDX) will initially trade palm oil and gold…
First-half loss of £1.04 billion for RBS
The Royal Bank of Scotland (RBS) posted a loss attributable to shareholders of £1.04 billion for the first half of 2009 on a pro forma basis, due to £7.5 billion in impairments charges.
Bank CDSs hit by poor results
Market sentiment towards financials has been varied in the past week as more second-quarter bank results were announced.
Momentum gathers for central trade repository
Legislators and industry participants are pushing forward with plans to create a central trade repository to hold records of over-the-counter derivatives transactions as a means of increasing transparency and reducing counterparty risk.
Lockhart steps down from FHFA
Edward DeMarco has been appointed acting director of the Federal Housing Finance Agency (FHFA) in Washington, DC, taking over from James Lockhart, who announced his resignation yesterday.
Derivatives exchange volumes still declining
Derivatives trading volumes continued to fall across several leading exchanges in July.
US Wrap: Reverse convertibles take the lead from growth products
Reverse convertibles made up just over half of new issuance in the US market yesterday, taking the lead back from the accelerated growth products which have been dominating recent activity. The notes were launched by both JP Morgan and Wells Fargo, which…
Governments must develop exit strategies, BIS warns
Governments need to plan how they will halt rescue measures introduced during the financial crisis, and ought to pull out as soon as conditions allow, according to the Bank for International Settlements (BIS).
BoE allocates extra £50 billion for asset purchases
The Bank of England (BoE) will expand its asset purchase facility, or ‘quantitative easing’, by £50 billion to £175 billion, it said today.
Geithner accuses regulators of holding up reform
Daily news headlines
US Wrap: Accelerated growth products gather momentum
Accelerated growth products dominated market activity in the US again yesterday as their issuance continues to gather pace. However, exposure is widening beyond US equity, as a note from Deutsche Bank showed.
HBOS deal leads Lloyds to £3.96 billion loss
Lloyds Banking Group made a pre-tax £3.96 billion loss on a pro forma basis in the first half of 2009, primarily due to losses on commercial real estate assets held by HBOS, which it acquired in January.
US senators criticise rating agency reform proposals
Senators and industry experts have criticised US Treasury proposals to keep tabs on credit rating agencies in relation to competition, conflicts of interest and the quality of ratings.
Survey reveals record £96bn deficit for FTSE 100 pension schemes
The financial crisis has plunged the pension schemes of the UK's 100 largest companies into a £96 billion deficit, according to a report by the London-based actuarial consultancy Lane Clark & Peacock (LCP).
CFTC outlines more regulatory concerns
The Commodity Futures Trading Commission (CFTC) ended the last of three public hearings on the energy market today, citing several additional areas of regulatory interest including firewalls, high frequency trading and over-the-counter market regulation.
New CEO for AIG
Robert Benmosche will join AIG as chief executive later this month.
Positive second-quarter results continue
UK and European banks have posted positive latest second-quarter results, led by strong investment banking revenues - but suffered from tightening credit spreads.
Banks' own credit risk hampers financial results
Own credit risk - the concept of including the credit risk of an institution in the measurement of the liabilities it issues - had a significant impact on banks' profits in the first half of 2009, as credit default swap (CDS) spreads referencing banks'…