Bottom Line: Yields falling flat for Land Securities

A BETTER than expected 34.3 per cent rise in Land Securities' net asset value to 677p a share, as the value of its portfolio rose by 19.6 per cent, is a reminder of how gearing can work in favour of property companies in a rising market.

Derivatives exposure 'small'

BRITAIN's futures and options specialists yesterday attacked US calls for greater controls over derivatives as ill-conceived, saying worldwide exposure was relatively small, writes Peter Rodgers.

US report urges tight controls over derivatives: Congressional warning of threat to financial stability

A US CONGRESSIONAL report yesterday branded derivatives a potential threat to financial stability and recommended sweeping regulations of the burgeoning market to head off a 'bail-out paid for by taxpayers'.

Commodities and Derivatives: 'Wannabe' wizards glimpse the future

AS DETAILS emerge of Hillary Clinton's huge successes trading commodities futures in the late 1970s, many investors are asking how they can do the same.

Banks act to avert derivatives crackdown

THE top 15 banks and securities houses in the worldwide derivatives markets are putting the finishing touches to a new voluntary code which they hope will head off pressure for tougher government regulation, writes Peter Rodgers.

Link-up on derivatives control: British and US regulators seek to establish international guidelines

British and American regulators have joined together to tighten control over financial companies that trade in derivatives such as futures and options. This follows concern at the huge increase in the use of such securities.

Post Office raid

An armed gang escaped with a 'substantial amount of money' after hijacking a security van on a run to make three cash pick-ups at post offices in Essex.

Warrants oil wheels of investment trusts: The right to buy future shares at a fixed price is a growing perk

TRADING began last week in the shares of two new investment trusts: Kleinwort Benson's heavily oversubscribed European Privatisation trust, and the Taiwan trust from Jupiter Tyndall, which is more specialised.

City & Business: No stopping shares

LAST week we were subjected to the supreme example of how derivative trading is beginning to dominate activity in equity markets. The episode centred on UBS, which spent up to pounds 1bn in a single day buying constituents of the mid 250 index so as to cover a warrant it was selling to clients on the index. As a consequence the mid 250 went through the roof.

Warrant news

Hargreaves Lansdown Asset Management has produced a free information booklet on warrants, a specialised form of investment with potentially high returns but also a high degree of risk. Call 0272 767767.

Exchange delays

The Stock Exchange has delayed release of a report by one of its own working parties on substitutes for the Unlisted Securities Market. It believes there is insufficient evidence of public support for the creation of a separately administered Enterprise Market. The news will dismay venture capitalists and small enterprise companies with relatively illiquid stock.

View from City Road: ASB's bark has more effect

David Tweedie, chairman of the Accounting Standards Board, calls FRS4 a 'negative standard that should never have been issued in the first place'. And now it seems that he and his team need not have bothered to go ahead with it. Just the threat has been enough to bring most companies into line.

How to check on financial advisers

If you want to check up on a firm giving financial advice you have to consult the central register held by the Securities and Investments Board. A free booklet has been produced that explains how you do this. Phone 071-638 1240.

Mortar attack

Two policemen and several civilians were injured and more than 50 buildings damaged when an IRA mortar bomb exploded outside a security forces base at Lisnaskea, Co Fermanagh.

Trust in Lazards

LAZARD Investors is launching an investment trust with a six-year life that aims for a yield of 8 per cent gross through investing mainly in convertible securities. These offer a fixed rate of interest and the right to convert to ordinary shares at a future date. There will be just one class of share. Minimum investment is pounds 1,000. Prospectuses can be ordered on 071-867 8665/6 from next Wednesday.
Career Services

Day In a Page

Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
Sicily – seven nights from £939pp
Pompeii, Capri and the Bay of Naples - seven nights from £799pp
Istanbul Ephesus & Troy – six nights from £859pp
Mary Rose – two nights from £319pp
Screwing your way to the top? Good for Lana Del Rey for helping kill that myth

Screwing your way to the top?

Good for Lana Del Rey for helping kill that myth, says Grace Dent
Will the young Britons fighting in Syria be allowed to return home and resume their lives?

Will Britons fighting in Syria be able to resume their lives?

Tony Blair's Terrorism Act 2006 has made it an offence to take part in military action abroad with a "political, ideological, religious or racial motive"
Beyoncé poses as Rosie the Riveter, the wartime poster girl who became a feminist pin-up

Beyoncé poses as Rosie the Riveter

The wartime poster girl became the ultimate American symbol of female empowerment
The quest to find the perfect pair of earphones: Are custom, 3D printed earbuds the solution?

The quest to find the perfect pair of earphones

Earphones don't fit properly, offer mediocre audio quality and can even be painful. So the quest to design the perfect pair is music to Seth Stevenson's ears
US Army's shooting star: Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform

Meet the US Army's shooting star

Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform
Climate change threatens to make the antarctic fur seal extinct

Take a good look while you can

How climate change could wipe out this seal
Should emergency hospital weddings be made easier for the terminally ill?

Farewell, my lovely

Should emergency hospital weddings be made easier?
Man Booker Prize 2014 longlist: Crowdfunded novel nominated for first time

Crowdfunded novel nominated for Booker Prize

Paul Kingsnorth's 'The Wake' is in contention for the prestigious award
Vladimir Putin employs a full-time food taster to ensure his meals aren't poisoned

Vladimir Putin employs a full-time food taster

John Walsh salutes those brave souls who have, throughout history, put their knives on the line
Tour de France effect brings Hollywood blockbusters to Yorkshire

Tour de France effect brings Hollywood blockbusters to Yorkshire

A $25m thriller starring Sam Worthington to be made in God's Own Country
Will The Minerva Project - the first 'elite' American university to be launched in a century - change the face of higher learning?

Will The Minerva Project change the face of higher learning?

The university has no lecture halls, no debating societies, no sports teams and no fraternities. Instead, the 33 students who have made the cut at Minerva, will travel the world and change the face of higher learning
The 10 best pedicure products

Feet treat: 10 best pedicure products

Bags packed and all prepped for holidays, but feet in a state? Get them flip-flop-ready with our pick of the items for a DIY treatment
Commonwealth Games 2014: Great Scots! Planes and pipers welcome in Glasgow's Games

Commonwealth Games 2014

Great Scots! Planes and pipers welcome in Glasgow's Games
Jack Pitt-Brooke: Manchester City and Patrick Vieira make the right stand on racism

Jack Pitt-Brooke

Manchester City and Patrick Vieira make the right stand on racism
How Terry Newton tragedy made iron men seek help to tackle their psychological demons

How Newton tragedy made iron men seek help to tackle their psychological demons

Over a hundred rugby league players have contacted clinic to deal with mental challenges of game