The Wait is Over
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The Wait is Over: Code of Conduct (Stage One) Unveiled – Profit & Loss
The FX Working Group (FXWG), put together by the Bank for International Settlements, has today released the first stage of the new Global Code of Conduct.
Abe Warns on Lehman-Era Crisis Signals
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Abe Warns on Lehman-Era Crisis Signals – fastFT (subscription)
Japanese Prime Minister Shinzo Abe warned leaders at the G7 summit that several indicators–namely commodities prices and the growth rate of emerging markets–are at levels seen before the financial crisis in 2008, the Nikkei website reported Thursday.
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China Weakens Yuan Fixing to Lowest Since 2011
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China Weakens Yuan Fixing to Lowest Since 2011 as Dollar Climbs – Bloomberg
China’s central bank weakened its currency fixing to the lowest since March 2011 as the dollar strengthened.
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Lawsuit Accusing 16 Big Banks of Libor Manipulation Reinstated
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Lawsuit Accusing 16 Big Banks of Libor Manipulation Reinstated – The Guardian
A US appeals court on Monday reinstated a civil lawsuit accusing 16 major banks of conspiring to manipulate the Libor benchmark interest rate. The ruling, which overturns a 2013 decision, could bankrupt the institutions, the judges warned.
US Close to Passing Test for June Rate Rise
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US Close to Passing Test for June Rate Rise, Fed Official Says – FT (subscription)
The US is on the verge of meeting most of the economic conditions the Federal Reserve has set to increase interest rates next month, according to a member of the rate-setting Federal Open Market Committee.
Market Impact of Brexit Is Key Concern for G-7 Finance Chiefs
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Market Impact of Brexit Is Key Concern for G-7 Finance Chiefs – Bloomberg
The risk of Britain exiting the European Union is a key concern for Group of Seven finance chiefs amid fears a vote to leave the EU in just over a month could roil international markets.
EgyptAir Jet Disappears Over Mediterranean Sea
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EgyptAir Jet Disappears Over Mediterranean Sea – Sky News
A search is under way for an EgyptAir flight from Paris to Cairo which has disappeared with 56 passengers and 10 crew on board – including one British national.
Fed’s Lockhart and Williams Say June Is a ‘Live’ Meeting
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Fed’s Lockhart and Williams Say June Is a ‘Live’ Meeting – WSJ (subscription)
Two regional Federal Reserve bank presidents said Tuesday that the US central bank could raise short-term interest rates at its meeting next month, despite low market expectations for such a move and uncertainty surrounding the referendum on the UK’s membership in the European Union.
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When the Going Gets Tough, the Tough Go Electronic
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When the Going Gets Tough, the Tough Go Electronic – Profit & Loss
For several years now, it has only taken the most cursory of looks at any broking or trading firm’s results to understand which way the market is going. The release of Icap’s full year results to the end of March 2016 has reiterated the point further. The markets are going electronic.
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Icap Takes Nex Step
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Icap Takes Nex Step – Profit & Loss
The waiting is over. Icap has announced the name by which it will be known once the sale of its hybrid voice broking business to Tulltett Prebon is completed.