Archbishop of Canterbury to lead effort to tackle £400m Wonga bill September 15, 2018 The archbishop of Canterbury Justin Welby is to lead an effort to pay for the £400m loan bill left by Wonga after the payday loan provider collapsed last month. The Guardian reported that Welby will meet investors and charitable foundations at Lambeth Palace next week to co-ordinate an effort to rescue around 200,000 customers who are faced [...]
Archbishop of Canterbury to lead effort to tackle £400m Wonga bill September 15, 2018 The archbishop of Canterbury Justin Welby is to lead an effort to pay for the £400m loan bill left by Wonga after the payday loan provider collapsed last month. The Guardian reported that Welby will meet investors and charitable foundations at Lambeth Palace next week to co-ordinate an effort to rescue around 200,000 customers who are faced [...]
10 years on from Lehman’s collapse: seven charts to consider September 14, 2018 | City Talk Ten years ago, US investment bank Lehman Brothers filed for bankruptcy, marking the most symbolic moment of the global financial crisis. It remains the largest bankruptcy filing in US history. The demise of Lehman on 15 September 2008 was just the tip of the iceberg. Little did we know but at the time the whole [...]
What might trigger the next global financial crisis? September 14, 2018 | City Talk Ten years on from the collapse of Lehman Brothers and the deepening of the global financial crisis, the world seems to be a safer place. Over the past decade there have been significant shifts in the world economy such that the imbalances that could lead to a crisis are less. The risks haven’t entirely gone [...]
Sirius shares climb after $250m deal plugs funding gap on Yorkshire mine project September 14, 2018 Sirius Minerals has struck a $250m (£190m) deal to plug a funding gap after its Yorkshire mine project costs rose. The company's shares tumbled more than 18 per cent earlier this month when the miner said it may need an extra $600m to construct its mine under the North York Moors. It said the initial $3bn [...]
Sirius shares climb after $250m deal plugs funding gap on Yorkshire mine project September 14, 2018 Sirius Minerals has struck a $250m (£190m) deal to plug a funding gap after its Yorkshire mine project costs rose. The company's shares tumbled more than 18 per cent earlier this month when the miner said it may need an extra $600m to construct its mine under the North York Moors. It said the initial $3bn [...]
Norwegian trader leaves €114m hole in Nordic energy trading market September 13, 2018 A Norwegian trader who was once the country’s highest tax payer has been kicked off the Nasdaq after defaulting, leaving a €114m (£101m) hole in the clearing house’s default fund. Power trader Einar Aas said in a statement “My position was too big in relation to the market’s liquidity”. Read more: Former UBS trader Kweku [...]
Norwegian trader leaves €114m hole in Nordic energy trading market September 13, 2018 A Norwegian trader who was once the country’s highest tax payer has been kicked off the Nasdaq after defaulting, leaving a €114m (£101m) hole in the clearing house’s default fund. Power trader Einar Aas said in a statement “My position was too big in relation to the market’s liquidity”. Read more: Former UBS trader Kweku [...]
The illusion of control in an uncertain world September 13, 2018 | City Talk Anil Gaba, professor of decision sciences and the Orpar chaired professor of risk management at Insead, explains how risk and uncertainty are not the same and how control can be gained by paradoxically giving up control. Professor Gaba offers a fascinating insight into luck, chance, control, the illusion of control, and decision making. For example, [...]
The illusion of control in an uncertain world September 13, 2018 | City Talk Anil Gaba, professor of decision sciences and the Orpar chaired professor of risk management at Insead, explains how risk and uncertainty are not the same and how control can be gained by paradoxically giving up control. Professor Gaba offers a fascinating insight into luck, chance, control, the illusion of control, and decision making. For example, [...]