Treasurers take a closer look

DERIVATIVES CONTROLS

LEADING ARTICLE: Barings and the Bank

The full implications of the Barings crisis are still incalculable. That its effects will be severe - and costly - nobody should doubt. It is 20 years since the Bank of England last organised a full-blown rescue like the one it has been orchestrating over the weekend. As on that occasion, all those involved will be waiting nervously for the reaction of the financial markets when they reopen again today.

New spotlight on derivatives

MPs are to begin an investigation of the potential dangers of the spiralling derivatives market in the next few weeks, as latest figures show that turnover in exchange-traded derivatives grew by 45 per cent worldwide in 1994.

PIA puts up fees

The Personal Investment Authority, the new financial services regulator, yesterday announced fee increases of up to 13.2 per cent for its life company members. Financial advisers face a smaller rise, of 7.7 per cent. The PIA's expected running costs, at £21.7m, are slightly less than the amount first set out in its prospectus last year.

Quotations appeal

Yesterday's decision was the outcome of the first appeal by the Pru against censure by the Stock Exchange over the Mick Newmarch share options affair.

Multi-strategy : WHAT'S NEW

Man Glenwood, the joint venture between ED&F Man and the US-based Glenwood Investment, is launching the Man Glenwood Multi-strategy Fund. It aims to invest in a range of assets, including stocks, bonds and derivatives. Shares are on offer at $100

Share disclosure rules tightened

City regulators announced new disclosure rules yesterday aimed at discouraging attempts to artificially drive down the share prices of the electricity generators before the imminent big power sell-off.

Gerrard reaps rewards of getting out of gilts

A 138 per cent rise in earnings from derivatives broking and fund management helped to push profits at Gerrard & National, the financial group, ahead by pounds 4m to pounds 14.4m in the first half.

A fortune in futures lures locals to Liffe: Correction

Wrong local

City & Business: Charities should opt out

THE Charity Commissioners, in their infinite wisdom, are considering whether to allow charities to play the derivatives markets. Of course, they do not couch it so flippantly; these are not speculators, after all, they are respectable institutions with a legal duty to protect their beneficiaries' funds.

Stock Exchange to tackle problem of short selling

THE STOCK Exchange will later this month issue a consultative document on the problems that arise from 'short selling', the speculative selling of shares the vendor does not own.

World banks told to tighten control over derivatives

BASLE (Reuter) - A key international panel of banking regulators has issued guidelines on managing risk in the booming dollars 18,000bn global market in derivatives.

Knight for trial

The former fugitive Ronnie Knight, 60, was sent for trial at the Old Bailey charged with the violent theft of pounds 5,961,097. He is also charged with receiving money from a raid on a Security Express depot in 1983.

Short selling offers hope to Eurotunnel

THE controversial pounds 858m Eurotunnel rights issue, which is in danger of becoming a disastrous flop, may be rescued by the fact that large institutions will need the newly created shares to cover short positions they are in as a result of persistently selling them.

View from City Road: A welcome note of calm on derivatives

The tail has been wagging the dog again. The market makers may justify this week's nervy swings in equities by fears about higher interest rates et al, but actual trading has been painfully thin. Rather the share price gyrations of the past 48 hours have been primarily driven by activity - at least some of it presumably speculative - in the derivatives markets.
Life and Style
Fans line up at the AVNs, straining to capture a photo of their favourite star
life Tim Walker asks how much longer it can flesh out an existence
Life and Style
Every minute of every day, Twitter is awash with anger as we seek to let these organisations know precisely what we think of them
techWhen it comes to vitriol, no one on attracts our ire more than big businesses offering bad service
News
Professor David Nutt wants to change the way gravely ill patients are treated in Britain
people Why does a former Government tsar believe that mind-altering drugs have a place on prescription?
News
Norway’s ‘The Nordland Line – Minute by Minute, Season by Season’ continues the trend of slow TV
television
Arts and Entertainment
art
Sport
Jonny Evans has pleaded not guilty to an FA charge for spitting at Papiss Cisse
football
Life and Style
Kate Moss will make a cameo appearance in David Walliams' The Boy in the Dress
fashion
News
The image released by the Salvation Army, using 'The Dress'
news
Sport
Liverpool defender Kolo Toure
football Defender could make history in the FA Cup, but African Cup of Nations win means he's already content
Career Services

Day In a Page

Independent Travel
Pompeii, Capri & the Bay of Naples
Seven Cities of Italy
Burgundy, the River Rhone & Provence
Prague, Budapest and Vienna
Lake Garda
3.	Provence 6 nights B&B by train from £599pp
Prices correct as of 20 February 2015
Homeless Veterans campaign: Donations hit record-breaking £1m target after £300,000 gift from Lloyds Bank

Homeless Veterans campaign

Donations hit record-breaking £1m target after huge gift from Lloyds Bank
Flight MH370 a year on: Lost without a trace – but the search goes on

Lost without a trace

But, a year on, the search continues for Flight MH370
Germany's spymasters left red-faced after thieves break into brand new secret service HQ and steal taps

Germany's spy HQ springs a leak

Thieves break into new €1.5bn complex... to steal taps
International Women's Day 2015: Celebrating the whirlwind wit of Simone de Beauvoir

Whirlwind wit of Simone de Beauvoir

Simone de Beauvoir's seminal feminist polemic, 'The Second Sex', has been published in short-form for International Women's Day
Mark Zuckerberg’s hiring policy might suit him – but it wouldn’t work for me

Mark Zuckerberg’s hiring policy might suit him – but it wouldn’t work for me

Why would I want to employ someone I’d be happy to have as my boss, asks Simon Kelner
Confessions of a planespotter: With three Britons under arrest in the UAE, the perils have never been more apparent

Confessions of a planespotter

With three Britons under arrest in the UAE, the perils have never been more apparent. Sam Masters explains the appeal
Russia's gulag museum 'makes no mention' of Stalin's atrocities

Russia's gulag museum

Ministry of Culture-run site 'makes no mention' of Stalin's atrocities
The big fresh food con: Alarming truth behind the chocolate muffin that won't decay

The big fresh food con

Joanna Blythman reveals the alarming truth behind the chocolate muffin that won't decay
Virginia Ironside was my landlady: What is it like to live with an agony aunt on call 24/7?

Virginia Ironside was my landlady

Tim Willis reveals what it's like to live with an agony aunt on call 24/7
Paris Fashion Week 2015: The wit and wisdom of Manish Arora's exercise in high camp

Paris Fashion Week 2015

The wit and wisdom of Manish Arora's exercise in high camp
8 best workout DVDs

8 best workout DVDs

If your 'New Year new you' regime hasn’t lasted beyond February, why not try working out from home?
Paul Scholes column: I don't believe Jonny Evans was spitting at Papiss Cissé. It was a reflex. But what the Newcastle striker did next was horrible

Paul Scholes column

I don't believe Evans was spitting at Cissé. It was a reflex. But what the Newcastle striker did next was horrible
Miguel Layun interview: From the Azteca to Vicarage Road with a million followers

From the Azteca to Vicarage Road with a million followers

Miguel Layun is a star in Mexico where he was criticised for leaving to join Watford. But he says he sees the bigger picture
Frank Warren column: Amir Khan ready to meet winner of Floyd Mayweather v Manny Pacquiao

Khan ready to meet winner of Mayweather v Pacquiao

The Bolton fighter is unlikely to take on Kell Brook with two superstar opponents on the horizon, says Frank Warren
War with Isis: Iraq's government fights to win back Tikrit from militants - but then what?

Baghdad fights to win back Tikrit from Isis – but then what?

Patrick Cockburn reports from Kirkuk on a conflict which sectarianism has made intractable