Funds
Three brokerages complain of "bullying" banks
LONDON (Reuters) - Three of London's best-known brokerages have accused the bailed-out banks of "bullying" debt-burdened corporate clients into using their investment banking services, skewing already tough competition. Full Article
Luxembourg to boom as hedge funds move onshore
GENEVA (Reuters) - Luxembourg could draw hedge funds in their droves as European investors retreat from offshore vehicles and seek to rein in liquidity and counterparty risk in the post-Madoff, post-Lehman environment. Full Article
Britain floats bank levy at G20
ST ANDREWS (Reuters) - Britain pressed the G20 on Saturday to come up with a plan to make banks pay for any future bailouts but one idea of imposing a global financial transactions tax was immediately shot down by the United States. Full Article
Gold hits record high
Gold has hit a record high above $1,100 an ounce as the dollar slides on expectations U.S. interest rates will remain low. Full Article
PwC readies new plan for returning Lehman assets
LONDON (Reuters) - The administrator of Lehman Brothers' European arm will proceed with a revised plan to return billions of hedge fund assets after a London appeal court on Friday rejected earlier proposals. Full Article
Schroders in big move to emerging debt
LONDON (Reuters) - Schroders has hiked exposure to emerging market and high-yield debt in its Strategic Bond Fund, fearing higher inflation and interest rates will put particular pressure on mainstream western debt. Full Article
Turnaround funds eye Threshers business
LONDON (Reuters) - Funds specialising in turning around troubled companies are among the favourites to buy the stores of off-licence chain Threshers from administrators, people familiar with the matter said on Friday. Full Article
EU Parliament report slams hedge-fund directive
LONDON (Reuters) - A report for the European Parliament attacked a proposed EU directive to regulate hedge funds as "poorly constructed, ill-focused and premature", in a blow for lawmakers who have demanded tough rules for the sector. Full Article
Trinity Mirror to end final salary pensions
LONDON (Reuters) - Newspaper publisher Trinity Mirror is planning to close its final salary pension scheme due to the increased costs of providing the scheme. Full Article
Schroders says bubbles building in emerging markets
LONDON (Reuters) - "Easy" money being pumped into emerging market economies by Western governments could lead to asset price bubbles, Schroders chief investment officer said. Full Article
U.S. insider trading probe widens
NEW YORK (Reuters) - Fourteen people were charged with fraud and conspiracy in a dramatic widening of an insider trading scandal that has ensnared hedge fund managers, top Silicon Valley executives and a bevy of white-shoe advisers. Full Article
Market Update
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Commodities
| Commodity | Last | Pct Chg | Trade Date/Time |
|---|---|---|---|
| Oil | 77.77 | +2.44% | 9 Nov 00:00 GMT |
| Gold | 1105.7 | +0.39% | 10 Nov 00:10 GMT |





