Archives
PwC must face $1 billion lawsuit over MF Global collapse
July 11th, 2014
A federal judge on Wednesday rejected PricewaterhouseCoopers’ request to dismiss a $1 billion lawsuit accusing the auditor of providing bad accounting advice that contributed to the October 2011 collapse of MF Global Holdings Ltd, a brokerage run by former ...
Co-heads of ICAP’s EBS Market FX trading platform leave
July 11th, 2014
ICAP, the world’s largest brokerage, said on Thursday that the co-heads of its flagship electronic foreign exchange trading platform, EBS Market, had left the firm amid a management shake-up at the broader business. Darryl Hooker, who has been head ...
India’s Infosys Battles Leadership Turmoil To Post Profits
July 11th, 2014
Indian software giant Infosys (NYSE: INFY), the country’s second-largest software services exporter, reported a jump in profits as well as in revenues in the June quarter, the company announced Friday. The Bangalore-based company reported a net profit of $480.2 ...
CySec: acquisition of CIF (Cyprus Investment Firms) licence
July 11th, 2014
The Cyprus Securities and Exchange Commission (CySec) the Cypriot financial regulatory authority, has announced that “AMFF Ltd” has successfully obtained the CySec license for CIF (Cyprus Investment Firms). The firm is now authorised to operate legally under the supervision ...
Technical Analysis AUD/USD: Aussie Firm on Australian Housing Data
July 11th, 2014
Technical Analysis AUD/USD for July 11, 2014 AUD/USD has edged higher in Friday trade, as the pair trades at the 0.94 in the European session. On the release front, there are no key events on the schedule. In Australia, ...
UK banks paying $2 billion for swaps mis-selling: regulator
July 11th, 2014
Britain’s banks are in the process of paying out 1.2 billion pounds ($2 billion) to compensate small businesses who were mis-sold complex interest rate hedging products, data from the UK financial regulator showed on Friday. Almost 30,000 cases have ...
Gold Improves, Shrugs Off Sharp Unemployment Claims
July 11th, 2014
Gold is firm on Friday, as the spot price stands at $1337.62 per ounce in the European session. Friday has a very light schedule, with just one event, the Federal Budget Balance. In the US, Unemployment Claims dropped, as ...
Bank of England says may be case for extra leverage ratio for banks
July 11th, 2014
Lenders may have to comply with a requirement to set aside funds on top of a proposed minimum of 3pc of their capital, says the Bank The Bank of England said on Friday that big British banks and lenders ...
Announcement regarding the Law on Alternative Investment Funds
July 11th, 2014
The Central Bank of Cyprus has made the following announcement regarding the Law on Alternative Investment Funds: In view of the enactment of the Law on Alternative Investment Funds on 10 July 2014, the Central Bank of Cyprus will no ...
ESMA defines central clearing of interest rate and credit default swaps
July 11th, 2014
The European Securities and Markets Authority (ESMA) has launched a first round of consultations to prepare for central clearing of OTC derivatives within the European Union. The two consultation papers seek stakeholders’ views on draft regulatory technical standards (RTS) ...
