This document reports on the . The growth of the global credit derivatives market has again dramatically surpassed previous expectations. It is now estimated that at the end of 2001 the global market excluding asset swaps accounted for an estimated $1189 billion or over $1 trillion. The projected growth rate...
By Marc Roca LONDON (Reuters UK) - The country's biggest housebuilder, Taylor Wimpey TW, slumped to a 1.54 billion pound half-year pretax loss as the market for homes dried up and said it has yet to agree a crucial loan deal with its banks. The loss...
Number of approvals down 65% Buy-to-let market suffers Faint hope market has hit bottom Mortgage lending remained at record lows last month, with Britain's beleagured housing market showing little signs of any recovery. While the level of gross mortgage lending...
All this talk of Gordon Brown's 'economic recovery plan' calls to mind the unhappy day, many years ago on a junior bankers' training course, when I took part in a competitive team game which involved managing a computer model of the British economy. We were told it was...
Darren Turner secured pole position for the HiQ MSA British Touring Car Championship for the second successive season at Knockhill after SEAT secured a 1-2 on the grid for the third race in a row. Turner, who took two wins at the circuit last season, led the way...
BBA rejects proposed alterations to Libor *The British Bankers' Association has rejected most of the suggestions for changing the way it calculates the benchmark London Interbank Offered Rates Libor amid recent fears over its accuracy. The Libor rates are based on a daily survey of the rates...
The scale of the crisis in the property market was revealed in stark detail yesterday with the publication of the latest figures on mortgage approvals from the Bank of England. Approvals for new home loans fell by almost 70 per cent to a mere 36,000 in June,...
Outlook It's not just me and the FSA who think short selling a thoroughly suspect activity. No less a figure than Jamie Dimon, chief executive of JP Morgan Chase and a Wall Street legend in his own right, has also been sounding off...
WASHINGTON AFP — July is usually a quieter month for busy Wall Street bankers, spent lounging poolside at the Hamptons or on a Caribbean beach, but a nagging credit crunch has cast a dark cloud over such vacations. Major US banks, including Citigroup, Bank of America,...
Outlook Hard to believe, but this time last year the boom was still in full swing. House prices in some parts of central London were rising at an annualised rate of more than 30 per cent, getting a mortgage was as easy as...
Credit Suisse has promoted one of its star investment bankers, the son of a former Bank of England governor, to run its business in the UK. James Leigh-Pemberton, 52, was yesterday appointed chief executive of Credit Suisse in the UK, overseeing its investment...
Even if the Government fails to hold the safe seat of Glasgow East, it's hard to see the Prime Minister paying the price of defeat When I was growing up, in what was then the coal-mining part of Carmarthenshire, there was a favoured...
BANKING Savings held in banks and building societies could be safer in future under proposals from the Treasury to raise the threshold for protected deposits. Currently, consumers' savings are guaranteed only up to 35,000 if a bank or building society...
AMERICA'S first Irish President, Andrew Jackson, was an "evil" psychopath who killed someone over a gambling debt, a new documentary claims. The documentary Andrew Jackson: Good, Evil And The Presidency, also claims Jackson's mother Elizabeth - who emigrated to the US from...
Outlook Believe it or not, there are some positives to be drawn from the debacle that is Bradford & Bingley. One is that despite the lily- livered behaviour of Texas Pacific Group, an alternative recapitalisation on almost exactly the same terms has been...
It was a week that most retailers would probably prefer to forget - seven days that shook the high street. From the grandest names to the most minor, the news has been uniformly grim. Yesterday, the mighty John Lewis reported that its sales...
Seventy summers ago, Spain versus Germany meant more than the final of a football tournament. The outcome differed, too. When the forces of the Spanish government made their last-ditch push on the Ebro against Franco's rebels in July 1938, ferocious bombing by the Nazi planes of...
Moves to learn the lessons of the humiliating run on Northern Rock last autumn were announced by the "tripartite authorities" yesterday. Aiming to produce a "world-class" regulatory system, the Bank of England, the Treasury and the Financial Services Authority jointly agreed on a range of moves...
Company Honored for Advancing Corporate Social Responsibility on the International Equity Sale of Fiberod DALLAS -- Allegiance Capital Corporation, a full-service investment banking firm serving mid-market companies worldwide, was named the winner of the acclaimed 2008 Caesar Award for Advancing Corporate Social Responsibility CSR for...
The credit crunch is highlighting the cracks in the foundation of Libor, illuminating how a benchmark dependent on participants’ trust unravels when fear dominates the market. To help restore confidence, the British Bankers Association is bowing to pressure from investors and regulators; on June 10 the BBA announced...
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