News
Sterling Libor eases after rate cuts
Yesterday’s interest rate cuts in the UK and Europe substantially eased interbank lending conditions this morning.
Constellation announces further plans to boost liquidity
Constellation Energy has reported a third quarter loss and announced plans to sell its downstream gas trading operations in an additional bid to increase its liquidity position.
Derivatives loss impacts on Reliant’s Q3 results
Reliant Energy has announced a third quarter net loss of $1.04bn, due to unrealised losses of $1.69bn on energy derivatives.
Coal futures contract launched on ICE
Coal-trading platform globalCOAL has collaborated with global futures exchange the IntercontinentalExchange (ICE) to introduce a financially settled coal futures contract, entitled the gC ICE Newcastle Futures contract, specifically designed for the…
BP withdraws from CCS competition, exits UK wind power
BP Alternative Energy has just announced that it is withdrawing from the UK competition for funding for a Carbon Capture and Storage (CCS) demonstration plant, leaving just three contenders.
Russian stocks dragged down by plummeting oil price
Trading volumes on Russia’s two main stock exchanges, Russian Trading System (RTS) and the Moscow Interbank Currency Exchange (Micex), were significantly down in October, following plunging commodity prices and a worsened global financial outlook.
Porsche makes €6.83bn on VW options
Porsche revealed today it had made a €6.83 billion gain in the past business year on cash-settled options on shares of rival German car manufacturer Volkswagen.
European and American CDS spreads up again
The cost of credit protection on European banks continued to widen in early trading today as quarterly profits plunged across the board.
Nomura takes on ex-Lehman staff
Nomura, the Tokyo-based financial services group, has appointed Thomas Siegmund and Jai Rapal as joint heads of fixed income for Asia-Pacific, excluding Japan. They will both report to Zenji Nakamura, head of global fixed income.