gtnews.com: News

Bank of England Reveals Details of Forecasting Platform

Fri, 17 May 2013 04:00:00 -0400

The Bank of England (BoE) has revealed details of its forecasting platform, which it said the BoE’s rate-setting monetary policy committee (MPC) has been using since autumn 2011 to help put together its quarterly economic forecasts

Wolters Kluwer Launches Conduct Risk Governance for FCA-regulated Firms

Fri, 17 May 2013 04:00:00 -0400

Wolters Kluwer Financial Services has launched a logics conduct risk governance solution for UK firms governed by the new watchdog the Financial Conduct Authority (FCA)

Council of the European Union Sounds the Alarm on SEPA

Fri, 17 May 2013 04:00:00 -0400

The Council of the European Union (EU) has called on member states, banks and end users to redouble their efforts to meet the 1 February 2014 migration deadline for the single euro payments area (SEPA)

IASB and FASB Propose Changes to Lease Accounting

Fri, 17 May 2013 04:00:00 -0400

The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have published for public comment a revised exposure draft outlining proposed changes to the accounting for leases

Johnston Press Appoints David King as CFO(1)

Fri, 17 May 2013 04:00:00 -0400

UK media group Johnston Press has appointed David King as its new chief financial officer (CFO). He succeeds Grant Murray, who resigned as CFO, and will take up his new role on 1 June

Wal-Mart Pledges to Improve Safety for Bangladesh Suppliers

Thu, 16 May 2013 04:00:00 -0400

Wal-Mart has pledged to carry out rigorous safety inspections at the 279 factories in Bangladesh from which it sources goods

SunGard Study Claims Treasury SSCs Fall Short of Expectations

Thu, 16 May 2013 04:00:00 -0400

Software group SunGard is claiming that its latest ‘Market Insights’ study shows a marked difference in perceptions about shared service centre (SSC) levels and capabilities between the users and suppliers of these technology-based services.

HSBC Completes First Transactions on India’s New NACH Payments System

Thu, 16 May 2013 04:00:00 -0400

HSBC has become the first bank in India to complete live corporate client transactions on the country’s National Automated Clearing House (NACH) debit payment platform.

SWIFT More Bullish on Outlook for UK Economy

Thu, 16 May 2013 04:00:00 -0400

SWIFT has forecast that the UK economy will continue to grow at a faster rate than in the first quarter of 2013 as it continues its economic recovery, with a year-on-year gross domestic product (GDP) growth rate of 1.1%

Hannover Re Offers Energy Savings Warranties for German Corporates

Thu, 16 May 2013 04:00:00 -0400

German reinsurance group Hannover Re has developed an energy savings warranty insurance product for industrial enterprises in Germany

Fitch: Sovereign Rating Actions Have Mixed Impact on Bond Yields

Thu, 16 May 2013 04:00:00 -0400

Sovereign ratings and sovereign bond yields do not capture identical risks so investors should not necessarily expect a rating action to always lead to a significant change in bond yields, according to Fitch Ratings

Mark Kociancic Takes Over as Group CFO of SCOR

Wed, 15 May 2013 04:00:00 -0400

French reinsurance group SCOR said that after six years as chief financial officer (CFO) of the group, Paolo De Martin has decided to take a period of sabbatical leave

Australian Government Targets Major Companies in Tax Crackdown

Wed, 15 May 2013 04:00:00 -0400

Australia’s federal government has targeted major corporations in what it said is a crackdown on loopholes in the country’s corporate tax system that will deliver A$4bn in budget savings over the next four years

German Economy Edges Back into Growth as France Contracts

Wed, 15 May 2013 04:00:00 -0400

Germany’s economy, the largest in Europe, edged back into growth in the first quarter of 2013 after a sharp downturn at the end of last year, while France slipped into recession

EC Launches Price Fixing Probe into Oil Majors

Wed, 15 May 2013 04:00:00 -0400

The offices of oil companies Shell, BP and Statoil have been raided by European Commission (EC) officials as part of an inquiry into allegations of price fixing

China Set to Overtake US as Largest Corporate Debt Market for Non-financials

Wed, 15 May 2013 04:00:00 -0400

China will surpass the US as the world’s largest corporate debt market for non-financial companies in the next two years, a report from Standard & Poor's (S&P) suggests

IRIS Software Launches Cloud-based Payslip Delivery

Wed, 15 May 2013 04:00:00 -0400

UK-based IRIS Software Group has launched IRIS OpenPayslips, a cloud-based service allowing corporates running IRIS payroll software to deliver payslips directly to their employees through a web browser or smartphone

BofA Merrill Appoints Helen Mason Head of EMEA Commercial Cards

Tue, 14 May 2013 04:00:00 -0400

Helen Mason has been appointed head of commercial cards for Europe, Middle East and Africa (EMEA) by Bank of America Merrill Lynch’s global transaction services (GTS) unit

US Watchdog ‘Investigating Swap Contracts’

Tue, 14 May 2013 04:00:00 -0400

US financial regulator the Commodity Futures Trading Commission (CFTC) has launched a broad inquiry into the legitimacy of more than one million energy and metals transactions by major traders in commodities markets over the past two years

Tata Steel Announces US$1.6bn Writedown

Tue, 14 May 2013 04:00:00 -0400

India’s Tata Steel said that it expects to make a US$1.6bn non-cash writedown of goodwill and assets due largely to falling demand for its products in Europe

Barclays Wins Dismissal of US Lawsuit over Libor as FCA Outlines Replacement

Tue, 14 May 2013 04:00:00 -0400

A US lawsuit brought by shareholders against Barclays, who claimed financial loss as a result of the UK bank’s alleged manipulation of the London interbank offered rate (Libor) has been dismissed. Meanwhile, the head of the new UK Financial Conduct Authority (FCA) has told the 'FT' that a replacement dual-track system with survey-based lending rates running alongside transaction-linked indices, could be introduced by next year.

FTSE350 Pension Deficits Break £100bn Level

Tue, 14 May 2013 04:00:00 -0400

Pension scheme accounting deficits for UK companies in the FTSE350 had risen to £108bn at the end of last month, corresponding to a funding ratio of assets over liabilities of 84% according to Mercer

Late Payments to Australian Small Businesses Top A$10bn

Tue, 14 May 2013 04:00:00 -0400

Australian small businesses are suffering the impact of late payments estimated at an annual A$10.4bn in total, a survey conducted by Commonwealth Bank (CommBank) suggests

Blackstone Group Woos Treasurers with new Cash Management Unit

Mon, 13 May 2013 04:00:00 -0400

The Blackstone Group is targeting corporate treasurers with the launch a new business that aims to tap into potential dissatisfaction with money market funds (MMFs)

European Private Equity-backed Acquisitions Subdued in First Quarter

Mon, 13 May 2013 04:00:00 -0400

Acquisitions by private equity (PE)-backed companies in Europe, aka ‘buy and build activity’, were subdued in the first quarter of 2013 according to data from Silverfleet Capital and mergermarket

SWIFT Adds Daily Updates to SWIFTRef Platform

Mon, 13 May 2013 04:00:00 -0400

SWIFT has added daily updates to its reference data directories to further reduce industry costs associated with payments processing

Fitch Survey shows European Investors Still Pessimistic over Euro Crisis

Mon, 13 May 2013 04:00:00 -0400

The majority of European investors believe buoyant financial markets do not reflect underlying weaknesses in the eurozone, according to Fitch Ratings’ quarterly investor survey

BNY Mellon Launches Intraday Liquidity Analytics

Mon, 13 May 2013 04:00:00 -0400

BNY Mellon’s treasury services group has launched Intraday Liquidity Analytics, an offering that aims to help corporate clients address liquidity transparency and intraday overdraft coverage requirements under the Basel III capital adequacy regime

DTCC and Euroclear Launch joint Collateral Service

Mon, 13 May 2013 04:00:00 -0400

Euroclear and the Depository Trust and Clearing Corporation (DTCC) have signed a Memorandum of Understanding (MoU) to create a joint collateral processing service

Apple iBond Sale Shows Treasuries How to Take Advantage of the New Normal