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WRMA to campaign on data and against normalisation
Lynda Clemmons, president of the US Weather Risk Management Association (WRMA), is to sit on an American Meteorological Society (AMS) panel to address issues in the weather industry involving weather data and public-private partnerships.
Royal Bank of Canada reaches agreement over Enron case
The Royal Bank of Canada (RBC) has reached a settlement agreement with Enron, the Enron creditors’ committee and Dutch firm Rabobank, resolving aspects of a share transaction known as ‘Cerberus’. The transaction also involved the use of total return…
Utilities cut spending on IT
Energy utilities have cut spending on IT by 13% so far this year, according to the initial results of a study by Connecticut-based consultancy the Meta Group.
Water faces rising costs
UK water utilities are expecting rising electricity and environmental costs as they and their regulator prepare for the next five-year price review. Maria Kielmas reports
People swaps
BOC’s Mortimer to join European energy users’ body Hugh Mortimer, commercial manager at UK industrial group BOC, has been invited to join the board of the International Federation of Industrial Energy Consumers Europe (IFIEC). He will replace David…
Chicago Climate Exchange live in Octoberwith contract sale
The Chicago Climate Exchange (CCX), a greenhouse gas (GHG) emissions market, will start trading on October 10, it said in August. CCX also said it has contracted Atlanta-based online commodities exchange IntercontinentalExchange (Ice) to design, provide…
Allegheny reduces trading exposure with contract sale
Maryland-based Allegheny Energy has reduced its exposure to energy trading by selling an energy supply contract to a subsidiary of Goldman Sachs for $405 million.
Hedge out on the highway
US haulage firms seem to be making little use of risk management tools to mitigate high fuel prices. But parcel carriers are taking the initiative, finds Kevin Foster
Lloyds TSB selects SAS to manage risk
UK financial services group Lloyds TSB has installed banking risk management software from SAS, a North Carolina-based data management software vendor. The technology will help the bank to meet Basel II credit risk compliance and further automate its…
Goldman Sachs CP3 response published by accident
The five-page response drafted by Goldman Sachs executives to the Basel Committee on Banking Supervision's third consultative paper was published on the internet in mid-August by mistake when the committee posted other comments.
Rémy Cointreau
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Lloyds TSB selects SAS to manage risk
UK financial services group Lloyds TSB has installed banking risk management software from SAS, a North Carolina-based data management software vendor. The technology will help the bank to meet Basel II credit risk compliance and further automate its…
HSBC rolls out risk system
New angles
Prime broker fees "too low"
Pricing credit risk has come under scrutiny from central bankers in London, as increased competition for prime brokerage business has caused service fees to tumble.
Almeida rejoins Deutsche as global FX sales head
Dan Almeida will begin in the newly created position of global head of foreign exchange sales at Deutsche Bank in London on September 2.
Laying the Trac-x
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Reshuffle at CSFB
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