Pimco Replaced by TCW as Manager of $1.3 Billion Strategy
March 21st, 2014
Bill Gross’s Pacific Investment Management Co., which suffered record redemptions from its main mutual fund last year, was dropped as manager of a $1.3 billion bond fund offered by Columbia Management Investment Advisers LLC. Columbia replaced Pimco with TCW ...
FCA bans and fines trader for manipulating gilt price during QE
March 20th, 2014
The Financial Conduct Authority (FCA), the British financial regulatory authority has announced that Mark Stevenson, a bond trader with nearly 30 years’ experience, has been banned from the industry and fined £662,700 for deliberately manipulating a UK government bond (gilt) ...
Son-in-law’s testimony quotes bin Laden after 9/11: ‘We are the ones who did it’
March 20th, 2014
The defendant’s testimony in a stilled Manhattan courtroom Wednesday took a federal jury half a world and many years away, to a mountain cave in the desolation of Afghanistan, to the hours after the September 11, 2001, terror attacks. ...
Dubai Banking Analysts Seen Earning Double Bonus of London Peers
March 20th, 2014
Junior bankers in the United Arab Emirates are reaping almost 36 percent more salary than their counterparts in London, with bonuses almost double those paid in the U.K. capital, compensation data provider Emolument said. Fixed salaries at the analyst ...
JPMorgan, HSBC Said Planning to Bid for $4 Billion Saudi IPO
March 20th, 2014
JPMorgan Chase & Co. and HSBC Holdings Plc (HSBA) are among banks planning to compete for a role in the largest Saudi Arabian share sale in at least 12 years, according to five people with knowledge of the matter. ...
Court declares ruling party candidate El Salvador’s president-elect
March 18th, 2014
An electoral court in El Salvador has declared ruling party candidate Salvador Sanchez Ceren the next president of the country. The election took place last week, but was litigated when Norman Quijano of the right-wing Nationalist Republican Alliance (Arena) ...
European Parliament backs Commission proposal for the IFRS, the EFRAG and the PIOB
March 14th, 2014
The European Parliament has today backed the European Commission’s proposal on co-financing the IFRS Foundation, EFRAG and the PIOB, three organisations that play a key role in the development of accounting and auditing standards. Internal Market and Services Commissioner ...
HMRC to be £2.2bn short on Swiss deal target, PAC told
March 12th, 2014
SIGNIFICANTLY LESS than the £3bn target will be generated through the tax deal targeting UK residents with accounts in Switzerland, HM Revenue & Customs directors have told the Public Accounts Committee. Tax assurance director Edward Troup and director-general Jim ...
Structure products
March 6th, 2014
Structured products are synthetic investment instruments specially created to meet specific needs that cannot be met from the standardized financial instruments available in the markets. Structured products can be used: as an alternative to a direct investment; as part ...
Bonds
March 6th, 2014
Bonds are negotiable debt instruments issued, in capital markets with the purpose of raising capital. Investors who acquire bonds are lenders to the issuers. Particularly, investors lend some amount of money, the principal, to the borrower. In return, the ...
