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HMRC loses personal data for 25 million people in the post
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Hackers spoil Thanksgiving
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Italy’s fast track to Mifid
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RWE to invest €1 billion per year in renewables; founds new company
German utility RWE has announced the creation of a renewable energy company, RWE Innogy, which will be backed by at least €1 billion of investment per year.
New commodity and structured credit heads at Calyon
Calyon has named Martin Fraenkel as its new global head of commodities and Benjamin Jacquard as global head of structured products, both based in London.
Deutsche launches Asian currency-correlation indexes
Deutsche Bank has launched a set of indexes designed to capture returns generated by the apparent growing co-ordination of currency policy among Asian central banks. They are the first such indexes in the market.
Citigroup launches risk reshuffle after mortgage meltdown
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CEIOPS releases Solvency II information exchange guidelines
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Citigroup names new chief risk officer
Citigroup has appointed Jorge Bermudez as chief risk officer, and is tightening up risk management after suffering major losses from the subprime crisis.
Kershaw joins ICG
Dagmar Kent Kershaw will join Intermediate Capital Group (ICG) as head of its London-based CDO and institutional mandate team.
Credit cards could be source of next debt shock
Economists believe the next big shock to the financial system might not come from the property market but from consumer credit debt.
Swiss Re admits $1.07 billion loss on two portfolio CDSs
Zurich-based reinsurer Swiss Re has admitted a loss of SFr1.2 billion ($1.07 billion) caused by a fall in the market value of two credit default swaps (CDSs) referenced to a trading portfolio containing US subprime mortgages.
Lower losses than feared at Barclays
Barclays reported a total of £1.5 billion in write-downs associated with US subprime mortgages between June and October this year, reassuring investors who had feared far higher losses.
Bank of America's $19bn China windfall dwarfs $3bn writedown
The $3 billion writedown disclosed by Bank of America early this week has been overshadowed by the announcement that an investment in China stands to earn the firm $19 billion.
Merrill brings Thain to helm
Merrill Lynch has appointed John Thain as chief executive officer to replace Stan O'Neal, who retired on October 30 after the bank announced a larger than expected $7.9 billion of writedowns due to subprime exposure.
Dagmar Kent Kershaw leaves Prudential M&G
Dagmar Kent Kershaw has resigned from Prudential M&G, where she was the London-based head of structured credit products since 2000.
IIF Insurance Committee set up
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