Saturday 22nd November 2014
NEWS TICKER – FRIDAY NOVEMBER 21ST 2014: The director of the National Security Agency, Navy Admiral Michael Rogers, says he expects to see adversaries launch a cyber-attack in the next few years aimed at severely damaging America's critical infrastructure. "I fully expect that during my time as commander, we're going to be tasked to help defend critical infrastructure within the United States because it is under attack by some foreign nation or some individual or group," Rogers told the House Select Committee on Intelligence this morning (EST). Rogers, who also serves as commander of the US Cyber Command, says the government is better prepared to defend against those attacks than it was two years ago.On November 24th, the Federal Reserve will conduct a fixed-rate offering of term deposits through its Term Deposit Facility (TDF) that will incorporate an early withdrawal feature. This feature will allow depository institutions to obtain a return of funds prior to the maturity date subject to an early withdrawal penalty. The Federal Reserve will offer eight-day term deposits with an interest rate of 0.29000% and a maximum tender amount of $20,000,000,000. The penalty for early withdrawal is 0.75%, the minimum tender per institution is $20,000,000,000 - The Straits Times Index (STI) ended +29.72 points higher or +0.90% to 3345.32, taking the year-to-date performance to +5.70%. The FTSE ST Mid Cap Index gained +0.64% while the FTSE ST Small Cap Index gained +0.83%. The top active stocks were SingTel (+0.51%), UOB (+1.37%), DBS (+1.64%), Keppel Corp (+0.22%) and OCBC Bank (+1.16%). The outperforming sectors today were represented by the FTSE ST Basic Materials Index (+1.70%). The two biggest stocks of the FTSE ST Basic Materials Index are Midas Holdings (+1.72%) and Geo Energy Resources (+3.02%). The underperforming sector was the FTSE ST Technology Index, which gained +0.16% with Silverlake Axis’s share price gaining 0.41% and STATS ChipPAC’s share price unchanged. The three most active Exchange Traded Funds (ETFs) by value were the IS MSCI India (+1.70%), SPDR Gold Shares (+0.34%), DBXT MSCI Singapore IM ETF (unchanged). The most active Real Estate Investment Trusts (REITs) by value were Suntec REIT (unchanged), Ascendas REIT (unchanged), CapitaCom Trust (+0.89%) - In an interview with US online service Careers Info-Security News Greg Shannon, chief scientist at the CERT Division of Carnegie Mellon University's Software Engineering Institute says that to defeat cyber-adversaries, cybersecurity professionals should adopt a contrarian attitude, says. "Having that contrarian point of view allows you to get into the mindset of the adversary," Shannon says in an interview with Information Security Media Group. "How would this technology work if it did something the designer of it didn't think of?" he asks. "Certainly, that's the way the adversary is thinking, coming up with new attacks, new threats. They're looking at an app, a piece of software or some websites, [and they think] 'What can I do here that the designer didn't think of? Is there a way to get information through channels, through tricks that weren't anticipated? Is there some frailty of humans that I can exploit to get information out of them that they wouldn't normally give me?'" – Raiffeisen Bank International warned in an analyst conference call yesterday that profits in its Russian business would be challenged in Q4 versus Q3. The bank’s Chief Financial Officer Martin Gruell said higher risk provisioning and increased operating expenses could cut profits in its single most profitable market. "I would expect the fourth quarter to be a bit lower than the third quarter," he said. He believes the worst of the rouble's devaluation is over, but explained that the impact on the group’s capital from the dip in the ruble, could push RBI's core capital below 10% of risk-weighted assets by the end of this year - The performance of the Dutch residential mortgage-backed securities (RMBS) market remained stable during the three-month period ended September 2014, according to the latest indices published by Moody's Investors Service. The 60+ day delinquencies of Dutch RMBS, including Dutch mortgage loans benefitting from a Nationale Hypotheek Garantie, decreased to 0.95% in September 2014 from 0.98% in June 2014. At the same time, the 90+ day delinquencies decreased to 0.72% during the three-month period compared with 0.75% in June 2014. Cumulative defaults continued to increase to 0.54% of the original balance, plus additions (in the case of Master Issuers) and replenishments in September 2014, compared with 0.47% in June 2014, says the ratings agency. Cumulative losses slightly increased to 0.11% in September 2014 from 0.10% in June 2014 – According to a Clearstream client bulletin on November 18th, the US Internal Revenue Service and the US Treasury published an amendment to the current temporary regulations (TD9657) regarding FATCA. The amendment impacts Foreign Financial Institutions (FFIs) who have entered into an agreement with the IRS to become a participating FFI. It amends the determination date and timing for reporting with respect to the 2014 calendar year.
North America

European companies are showing a greater appetite for US, versus EU, companies for acquisitions, given the country's stronger growth prospects and cost competitiveness, says Moody's in a special Comment report.

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Mariano Rajoy, presidente del Gobierno español, al término de la Cumbre del G-20, ha explicado que las reformas estructurales han sido el centro de los compromisos respaldados en este foro, "muy en línea con el programa de reformas de España que he presentado a petición de la presidencia en la primera sesión de esta reunión".

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In recent years there has been a clear upward trend in fund managers successfully attracting more capital for West Coast-focused vehicles, reports Preqin, with the aggregate capital raised by these funds increasing year on year from $0.8bn raised by 11 funds closed in 2011 to $2.7bn raised by 18 funds closed in 2013. 2014 so far has seen 11 West Coast-focused private real estate funds reach a final close, having raised an aggregate $1.6bn in capital commitments. Read more...

El Premio Nobel de Economía de 2010, Peter Diamond, visitó el Banco Central de Reserva del Perú (BCRP), donde fue recibido por su presidente, Julio Velarde, antes de dictar una conferencia sobre “Perspectivas de la economía mundial y los desafíos del empleo”, auspiciado por el Consorcio de Investigación Económica y Social (CIES).

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4sight Financial Software, a leading provider of software and consultancy to the Securities Finance, Swaps and Collateral Management markets, has hired Edward Cockram as North American Product Consulting director. Cockram will be based in New York and will provide client consultation and business analysis services to 4sight’s North American clients. 

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Wednesday, 29 October 2014

NASDAQ and Shenzhen exchange sign MoU

NASDAQ and the Shenzhen Stock Exchange (SZSE) signed a memorandum of understanding (MOU) at the World Federation of Exchanges' annual General Assembly in Seoul to strengthen cooperation and promote mutual development between the two exchange companies. According to the MOU, SZSE and Nasdaq will explore extensive collaborative opportunities regarding information sharing, market link-up (including potential cross listing of index products), mutual assistance, link-up of IT systems and R&D initiatives. "This paves the way for in-depth cooperation between the exchanges in areas including linking-up IT systems and index-based products. As we connect and leverage the advantages of both markets, we look forward to constructive development through our mutual cooperation." says Wu Lijun, who took over as chairman of the SZCE in September this year. 

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The New York Stock Exchange says Stacey Cunningham has been named president of NYSE Governance Services. Cunningham will oversee codes of conduct and ethics training, while promoting collaboration and sharing of best-practices to support clients’ governance, risk and compliance (GRC) requirements. “The conversation around today’s governance, risk and compliance landscape has become a significant focus in the boardroom and is increasingly a core focus for organizations of all size, maturity and geography,” says Cunningham. “I look forward to supporting the continued growth of our business based on the evolving GRC requirements of our clients around the world.” 

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El Comité de Coordinación e Incorporaciones del Mercado Alternativo Bursátil (MAB) ha remitido al Consejo de Administración del mismo un informe de evaluación favorable sobre el cumplimiento de los requisitos de incorporación de la compañía EUROCONSULT GROUP, S.A. al segmento de empresas en expansión, una vez estudiada toda la información presentada por la compañía.

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