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This is Money
One of the major market makers on Liffe has collapsed into administration after racking up losses of up to 20m (14m) during the summer credit squeeze crisis. Liffe yesterday declared RV Capital in default, meaning the exchange feared the company would not be able to meet its obligations, and barred members from dealing with it.
RV Capital goes into administration
Britains financial system is vulnerable to new shocks in the wake of its most severe challenge for decades, and banks and authorities must learn the lessons of the crisis, the Bank of England says today. In its first detailed analysis of the squeeze that has engulfed credit markets since the summer, the Bank says that financial institutions have become more fragile and that the availability of credit may tighten. In turn, it sounds a warning that tighter lending conditions could spell serious fallout for the economy, with sub-prime borrowers and highly-leveraged companies particularly exposed.
UK financial system at risk from new shocks, says Bank
Jim Rogers, the veteran investor who predicted the 1999 commodities rally, declared that the US economy was "in recession" as he said he would take flight from the dollar and switch his investments into currencies including the Chinese yuan.
Jim Rogers quits dollar after declaring US recession
Warren Buffett, the billionaire American investor, said yesterday that he doubted that it was possible to find a good buy among Chinese shares because the market was too hot and was worthy of caution. Last week, Mr Buffetts Berkshire Hathaway sold its entire stake in PetroChina, which has risen 76 per cent this year to become the worlds second-biggest company by market value, netting a huge profit for the insurance and investment company.
Warren Buffett warns investors that the Chinese stock market is too hot