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Fair value rules come under scrutiny
Accounting rulemakers are considering easing controversial fair value rules to try to head off EU action in spite of warnings from auditors that Brussels’ proposals could leave them struggling to validate accounts
Rush to put private commodities contracts on exchanges
Commodities traders are rushing their private bilateral contracts into exchanges and clearing houses as they race to reduce their counterparty risk amid a deepening financial crisis
Hapag-Lloyd sold for €4.4bn
Tui has sold its Hapag-Lloyd shipping subsidiary in a €4.45bn ($6bn) deal that will keep the company in German hands and see the tourism group retain an interest via a minority stake in the buyer
Baugur offers a lot of retail bang for the buck
Tanned and relaxed, Sir Philip Green sat in a dark meeting room in downtown Reykjavik on Friday ahead of a whirlwind tour of Icelandic government officials and bankers
Nomura sees its future looking back to era of conservative bankers
As the world braces itself for another week of mayhem on the financial markets, there will be a small celebration of eastern culture in Canary Wharf
Confidence on rocks in shipping sector
One topic dominated the thinking of worried-looking shipping executives in Athens last week for the Financial Times’ World Shipping Congress. On the fringes, all were examining the implications of a sudden breakdown of key networks of trust and mutual confidence
Shipping sector hit by credit crisis
The credit crisis sweeping around the globe is drastically curtailing shipping activity as shippers cancel contracts with shipowners because of difficulty obtaining trade finance
Lehman executives stay in Europe for Nomura
A handful of Lehman Brothers’ key executives have agreed to stay on to run the bank’s operations in Europe and the Middle East following their acquisition by Japan’s Nomura
Harbinger loses a third in three months
Harbinger has missed out on fees of about $1bn, or a fifth of profits, that it would have earned if it had sustained the $5bn gains until the end of the year
Green looks to buy into Baugur chains
Sir Philip Green, owner of BHS and Topshop, is in talks with Icelandic government officials about investing up to £2bn in Baugur, the retailing group which includes House of Fraser, Karen Millen and Hamleys
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