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Times Online – Secretive hedge funds will eventually be subject to the same supervisory rules as banks, under a tightening of Britain’s system of regulation.
The changes, which will require banks and other lenders to build up their reserves in healthy economic times, could become the basis for international efforts to overhaul regulation at the G20 summit in London on April 2. The moves will be proposed on Wednesday in a report by Lord Turner of Ecchinswell, chairman of the Financial Services Authority, who will call for an overhaul of the tripartite links between the FSA, the Bank of England and the Treasury.
They follow repeated pledges from Gordon Brown for a crackdown on the “shadow banking system”.
Economic Times – European leaders meeting in Berlin on Sunday backed oversight of the world?s financial markets and products, including hedge funds, and urged that sanctions be drawn up to punish tax havens.
A copy of the “chair’s summary” from a summit hosted by Chancellor Angela Merkel and seen by Reuters describes the situation in financial markets as “fraught” and says structural reforms and a focus on public spending are needed to emerge stronger from the global crisis.
Economic Times - Gold, the traditional safe haven in times of economic turmoil, proved to be more a commodity that everyone loved to hate last year even amid the turbulence that engulfed world markets.
But as 2009 gets under way the yellow metal has found huge traction with money managers. In the last eight sessions, gold has rallied as much as $100 an ounce to hit a near four-month high of $915.30 on Monday — in spite of a rising dollar.
eFluxMedia- Quoting an unnamed Wall Street source, the New York Post said that Apple’s hedge fund investors are very worried after Steve Jobs appearance at MacWorld 2008.
In June, Apple downplayed the rumors rumors and speculations regarding Steve Jobs’ health. The company has issued a statement saying that he was affected by “a common bug”. Apple’s spokesperson noted that he had received antibiotics as treatment and is now recovering. After his speech at WWDC, some major news sites and various blogs have commented about Job’s physical appearance. Apple’s CEO appears to have lost some weight and he looked a little pale.
But since then the company didn’t provide any other update on Jobs’ health. The New York Post noted also that other people who have met with Jobs in the weeks surrounding the introduction of the iPhone 3G on July 11, said they came away troubled by his thin appearance.
Jobs’ health is a reason of concern, because he was diagnosed with pancreatic cancer in October 2003, but Apple did not announce the illness until nine months later, in July next year. Jobs underwent a successful surgery in August 2004.
