In an address to the European Parliament on 30 November, Jean-Claude Trichet, the head of the European Central Bank (ECB) warned the Parliament against allowing member states too much leeway when it comes to drafting new “oversight” legislation.
Insider trading has been around for eons. Its recent emergence in the slightly more institutionalized form of an “expert network” says more about the perennial tension between investors’ quest for information versus the public’s desire for a level playing field than it does about the need for an overhaul of the hedge fund industry.
Perhaps the most ominous part of Ireland’s proposed austerity plan is the decrease by €1 in the minimum wage. When you first read that number is doesn’t seem so bad – it’s only a 1/one. That’s until you remember that the minimum wage is expressed in compensation per hour.
The IMF country inspection team concluded its visit to Hong Kong at the end of October. It found the People’s Republic of China Special Administrative Region (a committee-inspired name if ever there was one) in high expansionary mode with a property bubble developing thanks to fast-rising credit growth...
The Spanish Government is getting seriously, but rather impotently, annoyed. With Spanish papers running stories saying that the Spanish Government is in secret talks with the EU, the IMF, and the US Treasury about a possible bailout, firefighting is becoming a full-time job for Spanish officials...
Yet another sign of the irresistible shift of economic power from west to east came in the third quarter of 2010 when, for the first time ever, the volume of derivatives trading in Asia-Pacific surpassed that done in North America.
QFINANCE brings to you its top 5 financial news stories of the week, along with relevant QFINANCE articles and definitions to fill you in on background details. Stories this week include the Irish economic crisis, UK student protests against tuition fees reform, and financial scandals in the US and India.
You know that things must be getting desperate in Ireland when significant numbers of the country's population want to draft in Michael O'Leary, the controversial and famously outspoken Ryanair chief executive, to help run the country.
QFINANCE has been shortlisted in the prestigious ninth annual State Street Institutional Press Awards coming runner up in the ‘Most Innovative Media Outlet’ category.
Just a day or two before ECB president Jean Claude Trichet sketched out how the embryonic European Systemic Risk Board could be a kind of halfway house to fiscal union (see my previous blog on the EU economy for further analysis), the managing director of the IMF, Dominique Strauss-Kahn launched an even more vigorous proposal.