News
Natixis CEO to be replaced
Dominique Ferrero, the chief executive of French corporate and investment bank Natixis, will lose his job today as part of the bank's restructuring plans.
CDSs on European financials tighten on positive Fed comments
The cost of credit protection on European financial institutions fell this morning following the US Federal Reserve's announcement yesterday that the economic outlook is improving.
Citi asks US Treasury permission for bonuses
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UK fraud police unit claims £315m saved
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EC draft rules would impose leverage limits on hedge funds
A draft European Commission directive, due to be released on April 30, would tighten European oversight of hedge fund managers, including leverage limits, increased disclosure and minimum capital requirements.
SG’s chairman Bouton resigns
Daniel Bouton, the chairman of Société Générale, has said he will step down on May 6, when the bank’s board will elect a replacement for him.
Morgan Stanley named in FCStone saga
Morgan Stanley has revealed its role in the disposal of a loss-making energy trading account by FCStone in March 2009.
LCH snubs DTCC merger
A proposed merger between London-based derivatives clearing house LCH.Clearnet and US clearing giant the Depository Trust & Clearing Corporation (DTCC) has fallen through.
RWE/E.ON and EDF win UK nuclear auction
The UK government has confirmed that the Nuclear Decommissioning Authority has successfully completed the auction of three potential new nuclear sites for a combined total of £387 million, significantly more than the government had previously expected to…
First domestic Australian CER trade
The first Certified Emission Reduction (CER) trade between two Australian counterparties has been made by Victorian electricity generator Loy Yang Power (LYP) and Queensland-based commodity trading and risk management firm Arcadia Energy Trading. The…
LCH snubs DTCC merger
A proposed merger between London-based derivatives clearing house LCH.Clearnet and US clearing giant, the Depository Trust & Clearing Corporation (DTCC) has fallen through.
BoE stability chief: Financial network needs 'rethinking'
The growth of complexity and widespread pursuit of similar products and strategies has created a fragile financial network in need of reform, according to a senior Bank of England (BoE) official.
CDSs on Chinese financials tighten on positive corporate results
The cost of credit protection on Chinese banks fell this morning as a series of positive results for Chinese corporates boosted the Shanghai Composite Index 2.78% and Hong Kong's Hang Seng Index 2.76% in overnight trading.
Record fall in cross-border claims
Cross-border claims at the major banks fell a record 5.4% in the last three months of 2008, according to figures released today by the Bank for International Settlements (BIS).
Study: pension funds should amend ALM risk models
European pension funds would experience greater stability if regulators amended asset liability management (ALM) rules to permit short-term risk taking using internal risk management models, a new paper argues.
Smaller funds lack op risk reserves, says survey
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SEC to host roundtable on short-selling regulation
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Bair: FDIC needs power to take over non-bank institutions
The Federal Deposit Insurance Corporation (FDIC) should have "resolution power" over non-bank financial companies as well as banks, FDIC chairman Sheila Bair told a New York audience yesterday.
Dong extends offshore UK wind investment
Denmark based Dong Energy has announced that it will build a second offshore wind farm in the Irish Sea as part of a €1.3 million (US$ 1.7 million) investment plan.
Total bid for UTS fails
French energy company Total has announced the expiry and termination of its offer to acquire UTS Energy for C$1.75 cash per share.
Deutsche Bank moves into profit
Deutsche Bank reported pre-tax profits of €1.8 billion for the first quarter, clawing its way back from a catastrophic €6.2 billion pre-tax loss in Q4 of 2008.
CDSs on Australian financials widen
As National Australia Bank - Australia's largest bank by assets -predicted a grim economic outlook for the country, the cost of credit protection on Australian financials rose this morning.
Kjaer joins RiskMetrics as president
Knut Kjaer, former chief executive of Norges Bank Investment Management - a division of the Norwegian central bank that oversees the $370 billion Government Pension Fund of Norway and the country's foreign reserves - has been appointed president of New…
Westgate president charged with $150m investment fraud
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