Breaking Finance news
Investors seek to forget dire August
Traders have decided a fresh month deserves a sunny disposition, as positive data out of China provides risk assets with a good start to September
Categories: Finance
UK to launch ‘comprehensive’ policing of online advertising
The UK is to introduce one of the world’s most ambitious attempts to police online marketing next year, when the Advertising Standards Authority extends its regime to corporate websites, social networks and mobile applications
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Obama marks end of US combat in Iraq
President Barack Obama declared it was ’time to turn the page’ on disagreements over the war in Iraq, as he marked the end of the US's combat mission and attempted to chalk up a success
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JPMorgan to close ‘prop’ trading division
JPMorgan Chase is to close the commodity unit that trades with the bank’s own money as Wall Street moves to comply with new US financial services rules banning proprietary trading
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SEC drops probe into Moody’s
The Securities and Exchange Commission warned credit rating agencies that it now had the authority to bring fraud cases over conduct outside the US that has ‘foreseeable effects’ in the country
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Banks’ shift pushes FX trading to $4,000bn a day
Currency trading has surged to record levels in 2010 as banks have become increasingly interested in foreign exchange in their search for less risky sources of profits
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Hawk-Eye ball-tracker developer put up for sale
Maker of ball-tracking systems to the world’s leading tennis tournaments and international cricket tests could have valuation of up to £20m
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Tech ‘seed’ investors kick valuations into long grass
Investors who put up the early ‘seed’ capital for technology start-ups in the US have come up with a novel idea for how to value businesses that in most cases have not started trading: put the issue off until later
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PotashCorp calls BHP’s behaviour 'unethical'
The hostilities between PotashCorp and its suitor BHP Billiton escalated when the Canadian fertiliser producer accused the multinational miner of “highly unethical” behaviour
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Lack of faith in policymakers hits risk
A sense that fiscal and monetary authorities are bumbling their lines in the face of a dangerous plot twist for the global economy is gripping markets, pushing traders back into havens such as core government bonds and the yen
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Investors’ anger rises at poor IPO returns
More than half the big initial public offerings in Europe this year are trading below their issue price
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Osborne plans 25% Treasury staff cuts
George Osborne is planning to cut staff numbers at the Treasury by about one-quarter and scale back his department’s role as he attempts to lead by example in the search for spending cuts across Whitehall
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Eurozone test over €25bn repayment
Irish banks are gearing up to repay more than €25bn of debt, in what could prove an important test of investor sentiment towards the broader eurozone financial sector
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US pay law branded ‘logistical nightmare’
US companies face a “logistical nightmare” from a new rule forcing them to disclose the ratio between their chief executive’s pay package and that of the typical employee, lawyers have warned.
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US housing woes compound job fears
Concerns that the depressed US housing sector will remain a drag on the US labour market have mounted following the loss of nearly 120,000 jobs in construction and related businesses in the last three months for which statistics were available
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Cold war base to be private ‘Top Gun’ school
Iceland’s Keflavik airbase, a bulwark of western security during the cold war, would be home to two squadrons of Russian-made fighter jets under plans being considered by Reykjavik
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Miliband shrugs off Mandelson support
Ed Miliband, the Labour leadership contender, has responded angrily after Peter Mandelson claimed the shadow energy secretary was intent on taking the party into ‘cul-de-sac’ by abandoning the principles of New Labour
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Pakistan status as Test nation under scrutiny
Pakistan’s status as a Test cricket nation was under scrutiny on Monday as current and former players demanded action if allegations about betting corruption involving members of its team are proved
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Airlines’ shares up as recovery gains pace
Airline share prices have risen more than 70 per cent from their lowest point at the beginning of last year, as investors bet on a strong recovery in the highly cyclical aviation business
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Intel to buy Infineon’s wireless chip business
Intel, the US chipmaker, has agreed a deal to buy the wireless chip business of Germany’s Infineon
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