News
Merrill fined $1 million over conflicts of interest
Losses & Lawsuits
ING loses EUR1bn; cuts 7,000 jobs
Losses & Lawsuits
GFX capital fund manager seized over £40m fraud
Losses & Lawsuits
Maxam Fund sues auditors
Losses & Lawsuits
Court of Appeal rules on unfair bank charges
Daily news headlines
SEC charges two over $500m "brazen" fraud
Daily news headlines
FDIC: 252 US banks now at risk
The US Federal Deposit Insurance Corporation (FDIC) now has 252 banks on its "problem list", and the industry has dipped into the red for the first time in almost two decades.
VTB Capital enters steam coal market
Russian bank VTB Capital has joined coal trading marketplace globalCOAL to develop its risk management operations in the Pacific region steam coal market.
Spectron begins brokering softs and ags
Interdealer broker Spectron has launched a soft commodities and agricultural products desk.
Fannie Mae hit by $25.2 billion loss in Q4
Government sponsored entity (GSE) Fannie Mae announced losses of $25.2 billion for the fourth quarter of 2008 yesterday, linked to mortgage defaults, falling home prices and ailing credit markets. The poor showing was driven by $12.3 billion in net fair…
New chairman and derivatives head for NYSE Liffe
Hugh Freedberg will succeed André Villeneuve as chairman of London-based derivatives exchange NYSE Liffe.
US government to own 36% of Citigroup
The US government's stake in Citigroup will swell to at least 36% through the conversion of just under half of its existing preferred share holdings, the ailing financial group and the US Treasury have confirmed.
CME appoints Boberski to develop OTC offering
David Boberski was today named managing director of over-the-counter research and new product development at the Chicago Mercantile Exchange (CME) Group.
Tranter leaves BNP
Nick Tranter, BNP Paribas' London-based European head of equity derivatives flow sales, left the bank this week. His responsibilities will be taken on by Jean-Eric Pacini, formerly head of structured product sales for the bank in London.
Eastern European sovereign CDS spreads narrow
The cost of credit protection on the sovereign debt of eastern Europe states fell in early trading today, while rising on US insurers.