The centrepiece of the Government's plan to overhaul financial regulation has been delayed, perhaps until after the election, it has emerged.
The long-awaited White Paper on financial regulation, due to be published on Wednesday, will offer no firm proposals on how authorities will control banks' balance sheets to avoid future crises, The Daily Telegraph reports.
Although it will indicate that the Government needs so-called macro-prudential tools to control the financial system, it will present topics for discussion rather than hard-and-fast new laws. Full story
Hedge funds enjoyed a bonanza in May with gains at a nine-year high, according to industry figures released today, says The Guardian.
A strong rise in stock values in emerging markets combined with a resurgence in stockmarkets across all major western economies helped the Credit Suisse/Tremont Broad Hedge Fund Index return 4.06%, the largest monthly performance jump since February 2000. Full story...
The worst of the recession is over, according to the British Chambers of Commerce's (BCC) latest economic survey, but the business body warned that recovery was fragile and cautioned against complacency, says The Daily Telegraph.
The results of the BCC's survey of 5,600 businesses, released today, showed progress in the manufacturing and service sectors during the second quarter of the year as well as a marked improvement in confidence. Full story...
A former computer programmer at Goldman Sachs' Wall Street headquarters has been charged with stealing trade secrets by downloading sensitive computer codes that drive the investment bank's automatic trading systems, according to The Guardian.
Sergey Aleynikov, a 39-year-old Russian immigrant to the US, was arrested by FBI agents at New York's Newark airport on Friday after Goldman raised the alarm over a suspected security breach. A Manhattan judge granted him bail today on condition that he raises surety of $750,000. Full story...
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