News
Lehman EM head reappears at Standard Chartered
Mohammed Grimeh, former global head of emerging markets at collapsed dealer Lehman Brothers, has been appointed as head of trading and deputy head of global markets for the Americas at Standard Chartered.
CDSs on European banks widen
The cost of credit protection on European financials and southeast Asian sovereigns widened in early trading today.
WEF backs calls for reverse stress tests
"Glaring gaps in risk management" represent one of the biggest dangers facing the world in 2009, and financial institutions must improve their modelling and testing as a matter of urgency, according to a World Economic Forum report launched today.
New financial regulation research centre launches
The International Centre for Financial Regulation (ICFR), an independent global research institute focused entirely on financial regulation, launched today in London.
Asset price crashes could continue this year, says World Economic Forum
There is still a significant risk of asset prices falling through 2009, according to the World Economic Forum's assessment of global economic risks this year, revealed at a press conference today in London.
European Commission initiates legal action against Standard & Poor's
Daily news headlines
Fund manager charged over 14-year-old Ponzi scheme
Daily news headlines
GAO report calls for US regulatory reformation
Daily news headlines
Liquidity floods into Powernext Gas
French exchange Powernext's recently-launched natural gas spot market has already become the most liquid in continental Europe, says Powernext.
MCX launches India’s first electricity futures
Mumbai-based Multi Commodity Exchange (MCX) launched India's first electricity futures contract on January 9.
RWE to buy Essent
Germany's RWE is buy Dutch utility Essent in an all-cash €9.3 billion deal. Essent will become RWE's operating company in the Netherlands and Belgium, and will continue as an independent entity.
Gold and silver trading hits record levels in 2008
Trading in gold and silver reached record levels in 2008, spurred on by the perception of precious metals as a "safe haven" from the credit crisis, according to International Financial Services London (IFSL) Bullion Markets 2009 report.
Craddock named as Oppenheimer's new risk head
Oppenheimer Funds, based in New York, has named Geoffrey Craddock as director of risk management and asset allocation.
CDSs tighten on insurers
The cost of credit protection on insurance firms continued to fall in early trading today, while spreads widened on eastern European sovereigns.
UniCredit appoints chief risk officer
Italian banking group UniCredit has named Karl Guha as chief risk officer.
Fed offers $150 billion to banks via TAF
The Federal Reserve announced it would offer $150 billion in 28-day discount-rate loans via its term auction facility (TAF) today; the auction will settle on January 15.
JP Morgan wins Risk's derivatives house of the year award
JP Morgan has won Risk magazine's derivatives house of the year award for the second successive year. In a 12-month period that saw the collapse of Bear Stearns and Lehman Brothers, unprecedented volatility in the market and capital injections into…
HKMA urges firms to heed Lehman advice
Daily news headlines
FSA calls on banks to invest £1bn on compensation systems
Daily news headlines
S&P creates ombudsman role
In an effort to "strengthen its ratings process, increase transparency and better serve capital markets", rating agency Standard & Poor's has appointed Ray Groves to the newly created position of ombudsman, effective February 16.
Merrill loses investment banking head
Merrill Lynch's former head of investment banking, Gregory Fleming, has left the bank, less than two weeks after its acquisition by Bank of America was completed.
Sterling Libor falls after rate cut
The cost of interbank borrowing declined throughout the week, with sterling Libor reacting immediately to the Bank of England's decision to cut interest rates to a historic low of 1.5%.
CDSs tighten on insurance and pharmaceutical firms
The cost of credit protection on insurance and pharmaceutical firms fell in early trading today, while spreads on financials and Scandinavian sovereigns widened.
Weinstein leaves Deutsche Bank
Deutsche Bank's New York-based co-head of global credit trading, Boaz Weinstein, will leave the bank in the second quarter to set up a hedge fund.