News
Icap launches iron ore broking service
Interdealer broker Icap has set up an iron ore derivatives broking service based in London.
Downturn changes oil & gas risk landscape
The oil & gas sector has been severely impacted by the global economic downturn, with new risks for the industry emerging that threaten the near-term survival and prospects of companies, according to a report from accounting firm Ernst & Young.
ERBD invest up to €5 billion in renewables stimulus
The European Bank for Reconstruction and Development (EBRD) has announced it will invest between €3-5 billion in sustainable energy projects in Eastern Europe before 2011 in an initiative to attract further co-financing of up to €10 billion.
Regulator expands energy panel to examine carbon trading
The Commodity Futures Trading Commission (CFTC) has appointed 11 members to a newly expanded panel established to prepare the government for carbon trading.
Calyon and EDF Trading form partnership
EDF Trading has formed a trading partnership with Calyon, the corporate and investment banking arm of the Crédit Agricole Group.
Geithner calls for law change to force OTC derivatives clearing
The US Treasury called upon Congress yesterday to amend the Commodities Exchange Act (CEA) to compel the "clearing of all standardised over-the-counter derivatives through regulated central counterparties".
UK inflation will stay low for some time, BoE says
UK inflation will drop below the Bank of England's (BoE) 2% target later this year and remain there "for the medium term", the central bank said in its quarterly inflation report, published today.
Auction finds General Growth Properties LCDS worth 44.25%
An auction held on May 13 determined a final settlement value of 44.25 cents on the dollar for loan-only credit default swaps (LCDSs) referencing Chicago-based shopping mall owner General Growth Properties; the company opted to restructure its debt under…
BoE inflation report pushes CDSs on European financials wider
The cost of credit protection on European financials increased this morning following the release of the Bank of England's quarterly inflation report. The report conceded UK GDP growth had been slower than expected in the first quarter of 2009, and…
UK Treasury releases investment bank insolvency report
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ASX goes live with iAppraise
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Selling pressure lifts on dividends
Implied dividends of European stocks, derived from the prices of dividend swaps on the DJ Eurostoxx 50 index, have rallied sharply, reflecting growing confidence about the future of the equity market.
Ambac makes $1.539bn derivatives gain
Ambac reported a massive $1.539 billion mark-to-market gain on credit default swaps (CDSs) in the first quarter – an upswing largely due to its own deteriorating financial condition.
Alpha and Foundation to form third largest US coal producer
US coal producers Alpha Natural Resources and Foundation Coal Holdings have merged to create the nation's third largest coal producer.
Centrica invests in EDF's UK nuclear business
UK utility Centrica has bought a stake in EDF's newly-acquired nuclear business in the UK.
London Array wind farm receives final investment
Utilities DONG Energy, E.ON and Masdar have announced that they will invest €2.2bn in building the first 630MW phase of the London Array offshore wind farm in the Thames Estuary.
SunGard acquires risk management solution from ICE
Pennsylvania-based software company SunGard has acquired the ICE Risk commodity trading solution from IntercontinentalExchange (ICE.)
CDSs on US financials narrow
Market sentiment towards US banks improved today, with the cost of credit protection on six of the nation's largest financial institutions falling. The move came on the same day Bank of America (BoA) was reported to have raised $7.3 billion from selling…
Bowater worth 15%, according to credit derivatives auction
An auction held on May 12 determined a final settlement value of 15% for credit default swaps (CDSs) referencing North American newsprint manufacturer Bowater, which filed for Chapter 11 bankruptcy on April 16.
UK Treasury: "vital" to expand resolution powers for investment banks
The UK government needs to update its approach to resolving failed investment banks in the wake of the collapse of Lehman Brothers in September last year, according to a Treasury report published today.
CDSs on US banks widen
The cost of credit protection on US banks increased this morning, having fallen - in some cases by as much as 50 basis points - on Friday after the announcement of the US government's stress-test results last week.
Ten US banks fail Geithner's stress tests
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London roadmap fails to address key points
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FSA wants more effective risk governance
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