China to release Rio Four January 7, 2010 China is expected to complete its investigation into four Rio Tinto staff accused of spying next week. Lawyers acting on behalf of the Rio staff said that their five-month detention would end on 11 January. The arrests have caused tensions between Australia and China as one of the people being held is Australian. The arrests [...]
BIS calls summit on risk fears January 7, 2010 The Bank of International Settlements (BIS) has asked top central bankers and banking executives to attend a meeting in Basel amid concerns that financiers are returning to the “excessive risk taking” that helped cause the financial crisis. The BIS said it had received reports that “financial firms are returning to the agressive behaviour that prevailed [...]
MPs blast ministers over deficit cut plan January 7, 2010 THE government yesterday faced attacks over the lack of detail in its plans to cut Britain’s ballooning budget deficit. MPs on the influential Treasury Select Committee said ministers had failed to spell out in December’s Pre-Budget Report where the axe would fall in future departmental budgets. Labour has pledged to halve the deficit in the [...]
Goldman set to sell out as SMFG taps markets for £6bn January 7, 2010 GOLDMAN SACHS agreed yesterday to convert 100 billion yen worth of Sumitomo Mitsui Financial Group (SMFG) preferred shares into common stock, as part of the Japanese bank’s preparation for tougher capital requirements. The agreement, which comes as part of Japan’s third largest bank’s plans to raise up to 888.9bn (£6bn) yen through a public offering [...]
Pearl’s creditors set to reject deal on suspended payments January 7, 2010 PEARL Group’s bondholders plan to reject a deal that the insurer hoped would end a bitter dispute over suspended interest repayments. The firm, founded by pizza entrepreneur Hugh Osmond, suspended interest payments on £500m of its bonds last year, sparking outrage from bondholders. Pearl has tabled a deal offering to buy back £100m of the [...]
Top UK banker at Morgan Stanley quits January 7, 2010 ONE of Morgan Stanley’s top London bankers has quit the firm just days after new chief executive James Gorman took over at the US bank. London-based John Hyman, co-head of global capital markets, left the firm two weeks ago for personal reasons, and his departure was revealed in an internal conference call on Monday. It [...]
WII SALES ROCKET January 7, 2010 STRONG Christmas sales for Nintendo’s Wii games console, revealed yesterday, helped allay fears that the popularity of the gadget has waned. Nintendo’s US Wii sales exceeded 3m units in December up sharply from 2.12m units a year earlier. Meanwhile, total sales of Nintendo’s handheld game player, the DS, have reached 40m units in Europe, making [...]
Eat your way out of winter blues January 6, 2010 IF YOU’RE one of those repentant souls trying to stick to a punishing detox regime of lemon water and cabbage throughout January, think again. Experts say that spring is the time to stick to salads and fruit, not winter, when it is crucial to eat the right foods to fend off low moods and a [...]
Stocks edge up but Fed urges caution January 6, 2010 THE DOW and S&P 500 inched higher, while the Nasdaq dipped yesterday after Federal Reserve officials said they were still worried about labour market weakness and a report on the services sector showed only slight improvement in the economy. Cautious minutes from the Fed’s last meeting, as well as the ISM services report, which showed [...]
No need to mistrust providers January 6, 2010 BEING a covered warrants issuer is a big undertaking. The calculation of the price and the dispatch of quotes is carried out by a complex, automated process, but there is also significant human intervention. Every day on the trading floor, our team of 30 market-makers works with a wide range of covered warrants, giving the [...]
