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The ECN, or electronic communications network, is one of those bland terms that mean little to the uninitiated.
Even the experts quibble over a definition, mainly because ECNs are a multi-faceted breed.
In the crudest terms, an ECN is an electronic market for buying and selling shares.
It links up brokers and market-makers that trade on behalf of [...]
The announcement failed to reassure analysts, who said the shake-up was a sign of lingering weakness in Reuters’ markets.
“They’re having to cut additional costs to stand still,” Michael Picken of investment bank Credit Suisse First Boston said.
Fund manager Gerrard said: “Reuters’ markets are continuing to worsen, and as such the company is being forced to [...]
In 2001, purchases in the UK paid for using credit and charge cards were worth £94bn, with £30bn spent using Mastercard branded cards, according to figures cited by the OFT.
The OFT said the fees acted like a “tax on retail transactions that is paid by all consumers in shops that accept credit cards”, resulting in [...]
The role of the Bush administration, which is renowned for its close links with energy firms, has come under close scrutiny since the collapse of Enron.
The subpoena came after Senator Joseph Lieberman said the White House had not responded quickly enough to requests for information.
The White House insisted the subpoena was “unnecessary”, and would make [...]
Enron collapsed last December, becoming the biggest company bankruptcy in US corporate history.
The firm’s collapse was blamed on complex financial arrangements and questionable accounting practices.
The Senate subcommittee said that claims by former directors that they were not told about dubious practices were not true.
The report said directors failed to heed “more than dozen red flags [...]
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WASHINGTON (CNN) — President Obama’s speech to Congress Wednesday on health care reform will probably be one of the high-noon moments of his presidency.
Surrounded by liberals demanding a government-run public option and centrist Democrats — along with Republicans — who want to dump the option, Obama just might have his finger on something that can [...]
Afghan presidential election results from five polling stations were declared invalid by the Electoral Complaints Commission on Thursday because of fraud.
The polling stations are in Paktika province, where incumbent President Hamid Karzai has considerable support.
The decision comes as the Independent Elections Commission of Afghanistan carries out a partial recount of the August 20 presidential election.
The [...]
The United States has suspended Bush-administration plans for a missile defense shield in Poland, the Polish Ministry of Defense said Thursday, a move likely to appease Russia, which had fiercely opposed the plans.
“This is catastrophic for Poland,” said the Polish Ministry of Defense spokeswoman, who declined to be named in line with ministry policy.
A spokeswoman [...]
