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This is Money
One of the largest defaults in the history of the $62,000bn credit derivatives market has been triggered by the US governments seizure of Fannie Mae and Freddie Mac, raising questions about how dealers will unwind billions of dollars worth of contracts.
US move triggers CDS default
Londons reputation as a leading financial centre suffered a serious blow yesterday when the Stock Exchange was knocked out by a computer systems failure on what promised to be one of the most profitable days of the year.
Stock Exchange glitch costs millions
It took decades for Coca-Cola, McDonald's and Starbucks to make their way over here. It may be only a matter of weeks before the American way of mortgage life, or at least a significant chunk of it, also finds its way to our shores.
The great mortgage bail-out
Steven Harrison, a former hedge fund manager, has agreed not to act as a fund manager or trader for 12 months and to pay a 52,500 fine, in a settlement reached with the Financial Services Authority.
Hedge fund manager sanctioned by the FSA for insider abuses
Momentarily. But not before skittish traders sent shares in United Airlines crashing from $12 -- reportedly to one cent at one stage. The Florida Sun-Sentinel was to blame after accidentally re-publishing a six year-old story from parent paper the Chicago Tribune, stating that after 76 years in the air UAL had filed for bankruptcy.
Web gaffe grounds UAL