News
Low oil price puts supply growth at risk
Future oil supply growth could be hit by the fall from last July's peak price of $147 per barrel, according to a new study, with 7.6m barrels per day (bpd) at risk between 2009 and 2014.
Shanghai steel futures begin trading
The Shanghai Futures Exchange launched trading in steel futures on March 26 to modest success, with a wide range of trading houses supporting the new contracts, traders and analysts said.
Top executives leave RBS Sempra
RBS Sempra Commodities has confirmed that president Frank Gallipoli and CEO David Messer have left the company.
Phoenix launches platform for renewable credits
Interdealer broker Phoenix Partners has launched an electronic OTC trading platform for renewable energy credits (REC.)
"Substantial increase" in European corporates hedging exposure to CEE
The depreciation of currencies in central and eastern Europe (CEE) has led to a wave of western European companies hedging their forex exposure to the region.
Shanghai steel futures shine on first day of trading
The Shanghai Futures Exchange launched trading in steel futures on March 26 to modest success, with a wide range of trading houses supporting the new contracts, traders and analysts said. The two new contracts are the seventh and eighth products to be…
Mixed benefits for banks from independent valuations
Flaws in the valuation of complex securities have driven a renewed focus on independent valuations, but vendors remain divided in their assessment of the use banks are making of their services.
CDSs on banks under UK asset protection programme widen
The cost of credit protection on UK banks rose marginally this morning. As the deadline of March 31 for UK banks to sign up to the government's asset protection programme approaches, banks already participating in the scheme saw their CDSs widen the most.
UK firms face greater business continuity risk
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Executive Board streamlines CDM processes
Tighter standards and more streamlined procedures for the accreditation of third-party certifiers of Clean Development Mechanism (CDM) projects were announced at the CDM Executive Board meeting held in Bonn, Germany yesterday.
CDSs referencing US banks widen
The cost of credit protection on US banks continued to rise yesterday, following Treasury secretary Timothy Geithner announcing a plan to relieve US banks of toxic assets on March 23. Some analysts believe Geithner's plan still lacks detail, particularly…
Banks suffer from stricter ratings criteria
Banks may be the latest victims of a continuing drive by rating agencies to impose harsher tests on highly-rated structured finance products, analysts said.
Geithner: US will "force all standardised OTC derivatives into central clearing"
The US Treasury will seek to fully regulate over-the-counter derivatives, secure the registration of large hedge funds with federal authorities and push ahead with plans to create a new systemic super regulator, Treasury secretary Timothy Geithner has…
Moody's: FGIC unable to meet payments
Moody's has warned that monoline insurer FGIC might not be able to meet its payments on the subprime-linked assets it has insured.
CDSs on UK financials begin to widen
The cost of credit protection on UK banks rose this morning after two days of narrowing in five-year senior credit default swap (CDS) spreads.
US Fed and Treasury clarify financial stability responsibilities
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SAS launches new fraud protection framework
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Iosco reports on short-selling regulation
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Banks win slack from FASB on fair value
The Financial Accounting Standards Board (FASB) has proposed amendments to fair-value accounting, which would allow financial institutions employing internal models to valuate assets and liabilities in illiquid markets.
EPA finding could trigger GHG regulation
The US Government is reviewing a proposed finding submitted last week by the Environmental Protection Agency (EPA) concerning the dangers posed to public health by greenhouse gas emissions.
Vattenfall enters UK power market
Vattenfall Trading Services has started trading over-the-counter and exchange wholesale power in the UK from its Hamburg office.
Quinn Emanuel poaches Allen & Overy's Daniel Cunningham
Daniel Cunningham has been hired by the US arm of business litigation firm Quinn Emanuel Urquhart Oliver & Hedges.