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.
Career Services

Day In a Page

Independent Travel
Pompeii, Capri & the Bay of Naples
Dubrovnik, the Dalmatian Coast & Montenegro
Burgundy, the River Rhone & Provence
Lisbon, Oporto and the Douro Valley
Lake Garda, Venice & Verona
Spain
Prices correct as of 23 January 2015
Isis hostage crisis: Militant group stands strong as its numerous enemies fail to find a common plan to defeat it

Isis stands strong as its numerous enemies fail to find a common plan to defeat it

The jihadis are being squeezed militarily and economically, but there is no sign of an implosion, says Patrick Cockburn
Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action

Virtual reality: Seeing is believing

Virtual reality thrusts viewers into the frontline of global events - and puts film-goers at the heart of the action
Homeless Veterans appeal: MP says Coalition ‘not doing enough’

Homeless Veterans appeal

MP says Coalition ‘not doing enough’ to help
Larry David, Steve Coogan and other comedians share stories of depression in new documentary

Comedians share stories of depression

The director of the new documentary, Kevin Pollak, tells Jessica Barrett how he got them to talk
Has The Archers lost the plot with it's spicy storylines?

Has The Archers lost the plot?

A growing number of listeners are voicing their discontent over the rural soap's spicy storylines; so loudly that even the BBC's director-general seems worried, says Simon Kelner
English Heritage adds 14 post-war office buildings to its protected lists

14 office buildings added to protected lists

Christopher Beanland explores the underrated appeal of these palaces of pen-pushing
Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Human skull discovery in Israel proves humans lived side-by-side with Neanderthals

Scientists unearthed the cranial fragments from Manot Cave in West Galilee
World War Z author Max Brooks honours WW1's Harlem Hellfighters in new graphic novel

Max Brooks honours Harlem Hellfighters

The author talks about race, legacy and his Will Smith film option to Tim Walker
Why the league system no longer measures up

League system no longer measures up

Jon Coles, former head of standards at the Department of Education, used to be in charge of school performance rankings. He explains how he would reform the system
Valentine's Day cards: 5 best online card shops

Don't leave it to the petrol station: The best online card shops for Valentine's Day

Can't find a card you like on the high street? Try one of these sites for individual, personalised options, whatever your taste
Diego Costa: Devil in blue who upsets defences is a reminder of what Liverpool have lost

Devil in blue Costa is a reminder of what Liverpool have lost

The Reds are desperately missing Luis Suarez, says Ian Herbert
Ashley Giles: 'I'll watch England – but not as a fan'

Ashley Giles: 'I'll watch England – but not as a fan'

Former one-day coach says he will ‘observe’ their World Cup games – but ‘won’t be jumping up and down’
Greece elections: In times like these, the EU has far more dangerous adversaries than Syriza

Greece elections

In times like these, the EU has far more dangerous adversaries than Syriza, says Patrick Cockburn
Holocaust Memorial Day: Nazi victims remembered as spectre of prejudice reappears

Holocaust Memorial Day

Nazi victims remembered as spectre of prejudice reappears over Europe
Fortitude and the Arctic attraction: Our fascination with the last great wilderness

Magnetic north

The Arctic has always exerted a pull, from Greek myth to new thriller Fortitude. Gerard Gilbert considers what's behind our fascination with the last great wilderness