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Risk management: Hunt is stepped up for the rogue traders (17 October 05:15) |
| Even before the world plunged into financial crisis, risk management was high on the "worry list" of trading houses: 2008 has been marked by a string of trading incidents that exposed big ho... |
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European shares rebound on techs and banks (17 October 04:55) |
| European shares bounced higher on Friday as a rebound in crude prices bolstered oil stocks and investors snapped up technology stocks. |
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Japan shares buck trend with small gains (17 October 04:10) |
| Japanese stocks bucked a regional downward trend on Friday as exporters rose on the back of the weaker yen and defensive stocks made gains. |
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US prepares $250bn banks push (17 October 04:00) |
| Global stock markets staged a historic rally yesterday as European governments pledged a total of €1,873bn ($2,546bn) to shore up their financial sector and the US prepared to unveil its o... |
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Caisse d'Epargne in 600m trading loss (17 October 03:45) |
| Groupe Caisse D'Epargne, one of France's biggest savings bank, made a €600m loss when the market crashed last week after a team of derivatives traders took unauthorised positions. |
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Bargain hunting lifts London equities (17 October 01:00) |
| London equity markets regained some ground, bouncing from a five-and-a-half-year low on Friday after overnight gains on Wall Street. |
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Banks need time and luck as well as funds (17 October 08:45) |
| Shortly before the British government unveiled its show-stopping bail-out plans last week, some UK politicians and finance officials made a quick trip to Japan. |
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Asian shares stage cautious rebound (17 October 08:20) |
| Japanese stocks rebounded mildly on Friday, following its biggest one-day decline since 1987, as exporters rose on the back of the weaker yen and as defensive stocks rose. |
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Two more mortgage brokers hit with FSA fines (17 October 08:00) |
| Two more mortgage brokers have been fined by the City watchdog as it continues to increase its scrutiny of poor practices in the sector. The two penalties took total fines it has levied this... |
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S Korean won edges higher but fears remain (17 October 07:55) |
| South Korea's currency gained 2.2 per cent on Friday, a day after suffering its worst one-day plunge for a decade, but fears remained that the country might become Asia's first victim of the... |
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Beijing assures Pakistan of support for debt payments (17 October 07:40) |
| China has assured Pakistan it will not be forced to default on upcoming international debt payments, Pakistani officials have said. |
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Medvedev tells ministers to 'repair trust' (17 October 07:25) |
| Dmitry Medvedev told members of his cabinet on Thursday that their most urgent task was to repair "trust between creditor and debtor" and said he was preparing extra measures to lower risks ... |
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Iceland accuses UK of financial 'siege' (17 October 04:55) |
| Iceland's central bank has attempted to get money flowing in and out of the hobbled economy, routing all payments through its own accounts and blaming UK banks for withholding funds from Ice... |
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Fortress fights to save value of ski resort (17 October 04:35) |
| Fortress Investment Group, a listed alternative investor with $40bn under management, is taking action aimed at keeping two of the companies it owns afloat, according to people familiar with... |
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Turner rises to the challenge (17 October 04:15) |
| Nobody can accuse Lord Turner of Ecchinswell of shirking a challenge. In the past few years the former McKinsey consultant has tackled problems such as Britain's pensions and global warming.... |
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HSBC seeks to buy back London tower (17 October 04:05) |
| HSBC is in talks to buy back its UK headquarters in Canary Wharf for up to £300m less than the price it sold the tower to Spanish property company Metrovacesa only a year ago. |
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Treasury rescue pushes up US mortgage rates (17 October 04:05) |
| US mortgage rates have soared this week in an unexpected reaction to the latest Treasury financial rescue plan, which has prompted investors to buy bank debt and sell bonds backed by home lo... |
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Lord Turner understands need for urgency (17 October 04:05) |
| Nobody can accuse Lord Turner of Ecchinswell of shirking a big challenge. In the past few years, the former McKinsey consultant has tackled Britain's pensions problem and formulated the coun... |
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L&G urges bank bail-out rethink (17 October 04:05) |
| Legal & General, the UK's largest investment group, on Thursday urged the government to reconsider its terms for bailing out three high street banks that could block them from paying dividen... |
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Banking regulator calls for clean slate (17 October 04:05) |
| Financial regulators should be prepared to "wipe the slate clean" as they search for a more effective global regime in the wake of the credit crisis, the chairman of Britain's financial watc... |
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'Boring and stable' Rathbone rallies (17 October 03:50) |
| Turbulent markets pushed down funds under management and operating profits at Rathbone Brothers but a flood of new money helped the UK wealth management company outperform its indices in the... |
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Bank to overhaul money market rules (17 October 03:50) |
| The Bank of England announced an overhaul of its money market rules on Thursday, to make them more effective in a future financial crisis. |
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Semper's success defies the doldrums (17 October 03:45) |
| In a month of almost unmitigated gloom for hedge funds, Christian Siva-Jothy, the former Goldman Sachs star trader, produced his best returns ever. |
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Chinalco's Rio stake hit by Lehman collapse (17 October 03:45) |
| Chinalco, China's biggest aluminium producer, has emerged as the latest company to have a key asset tied up in the collapse of Lehman Brothers, after it said on Thursday that the failed bank... |
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Deutsche Post insists Postbank sale is on (17 October 03:40) |
| Deutsche Post insists its sale of part of Postbank will go ahead in spite of a sharp drop in Postbank's share price, which is making the terms of the deal much worse for Deutsche Bank DB, th... |
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Hedge funds in grip of vicious selling cycle (17 October 03:31) |
| Troubles mounted for some of the world's biggest hedge funds on Thursday as Highland Capital Management told investors it was shutting down two of its funds and details emerged of big losses... |
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Institutions try to reassure investors on risks (17 October 03:30) |
| UBS UBS and Credit Suisse CS have chosen very different ways of reassuring investors over the risks on their balance sheets. |
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A writer for troubled times (17 October 02:35) |
| It is 3am in New York but Mohamed El-Erian is not sleeping the contented sleep of a man who, only hours earlier, collected a prestigious prize for his book on world markets. He is up and pre... |
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Wall Street stocks soar in late trade (17 October 02:35) |
| US stocks endured extreme volatility on Thursday and a late afternoon rally pushed the market sharply higher, led by energy groups even as oil slid below $70 a barrel. |
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Overview: Overview: US equities buck worldwide trend with late rally (17 October 02:10) |
| US stocks staged a late rally on Thursday while equity markets elsewhere continued to beat a retreat and commodity prices weakened further amid continuing volatility. |
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Wall St stocks soar in late trade (17 October 02:00) |
| US stocks rallied in late trade to end the day sharply higher. The movement followed stocks' worst sell-off since 1987 on Wednesday. |
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Wall St swings higher despite weak data (17 October 01:35) |
| US stocks endured extreme volatility on Thursday as investors weighed downbeat economic and earnings data with signs that historic levels of strain in money markets had begun to ease. |
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Pru quashes rights issue talk (17 October 01:35) |
| Prudential, one of the biggest UK life assurers, was on Thursday night forced to deny that it was planning an imminent rights issue, as worries about the global economy spread to the plight ... |
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Positive stance by Peru's central bank (17 October 01:35) |
| Peru's central bank has "a lot of latitude" to respond swiftly to the global economy crisis without seeking further authorisation from its board, according to Julio Velarde, CHK central bank... |
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FTSE hits 5-year low (17 October 01:30) |
| Insurance stocks were among the biggest fallers as the FTSE 100 saw another sharp decline on the way to recording its worst two-day performance since the stock market crash of 1987. |
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Swiss to fund $60bn 'bad bank' for UBS (17 October 01:15) |
| Switzerland moved to restore confidence in its banking system on Thursday, agreeing to fund a vehicle that would take on most of the toxic debts held by UBS UBS and injecting SFr6bn (€3.9b... |
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New York reaps reward from hedge fund fears (17 October 01:10) |
| London has suffered a setback in the battle with Wall Street for leadership of what remains of the financial world as hedge funds move billions of dollars to New York banks because of worrie... |
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ECB gives Hungary 5bn credit line (17 October 12:55) |
| The European Central Bank on Thursday stole a march on the International Monetary Fund in extending support to a country in need of credit to cope with the global financial crisis. |
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Mexican companies face derivatives probe (17 October 12:55) |
| Mexico's financial regulators this week announced an investigation into some of the country's best-known listed companies in an attempt to reveal the nature of their use of foreign-exchange ... |
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European slide deepens on growth fears (17 October 12:50) |
| European shares dived for a second consecutive session as fears of a sharp slowdown in global growth erased almost all of the week's early gains. |
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US oil falls below $70 a barrel (17 October 12:40) |
| A leading index of commodities prices fell to a four-year low, with crude oil in New York dropping below $70 a barrel amid mounting fears that the global economy was heading into a recession... |
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Wall St volatile after manufacturing data (17 October 12:30) |
| US stocks endured extreme volatility on Thursday as investors weighed downbeat economic and earnings data with signs that historic levels of strain in money markets had begun to ease. |
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Citi and Merrill warn of US contraction (17 October 12:30) |
| Citigroup C and Merrill Lynch warned of growing economic problems in the US on Thursday as they revealed a total of $8bn in losses during the third quarter. |
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Banking's mission must be to serve its customers (17 October 12:00) |
| The crisis in financial markets underlines more than ever the importance of having a solvent, profitable, healthy and sustainable banking system. Though we are still living through it, it is... |
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A better way to revive credit markets (17 October 12:00) |
| The chatter that the American taxpayers will pay $700bn to save the banks is nonsense. I have a straightforward plan that should revive the market in mortgage-related securities (MRS), great... |
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Southwest reports first loss in 17 years (16 October 11:50) |
| Southwest Airlines LUV, whose hedges against rising oil prices have helped stave off losses, saw its 17-year streak of profitability end after a stunning reversal in commodity prices forced ... |
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Arm's length fix that looks long-term (16 October 11:50) |
| Switzerland's approach to fixing its banking system has turned out to be at once less interventionist and more far-reaching than other government-sponsored bank rescues unveiled this month. |
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Swiss government takes 9% stake in UBS (16 October 11:30) |
| UBS UBS on Thursday turned to the Swiss authorities for its third capital raising this year as one of Europe's biggest casualties of the US subprime crisis tried to draw a line under its exp... |
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UBS and Credit Suisse figures show the strain (16 October 10:55) |
| UBS UBS and Credit Suisse CS pre-released strikingly different third-quarter figures, although both in their separate ways demonstrated the ravages wreaked by the financial crisis. |
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Swiss to bring guarantee in line with EU (16 October 10:20) |
| The Swiss government said it would hold an urgent review of the country's bank deposit guarantee scheme to align savers' protection closer with recently revised European levels. |
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